E Cannabis Central: Marijuana Company Deals Flourished In June & July But Most Of Their Stock Prices Floundered

The cannabis market flourished this past June & July with acquisitions, financings, and partnerships by numerous U.S. & Canadian marijuana companies but all that activity had no positive influence on the performance of most of the stocks involved. In fact, the price of 15 of the 18 stocks involved floundered. This article provides a recap of those corporate activities and the performance of the "pot" stocks involved.

Mergers & Acquisitions

  1. Curaleaf Holdings Inc. (OTC: CURLF; CSE: CURA) acquired GR Companies, Inc. (Grassroots), the largest private integrated multi-state cannabis operator in the U.S., for US$875 million to expand its presence from 12 to 19 U.S. states and to solidify its position as the world's largest cannabis company by revenue and the largest in the U.S. across key operating metrics.
  2. Supreme Cannabis Company Inc. (OTC: SPRWF; TSX: FIRE) acquired privately held Canadian-licensed producer Truverra Inc., for US$20 million in stock and Blissco Cannabis Corp. (CSE: BLIS; OTCQB: HSTRF), a premium wellness company, for US$48 million in an all-stock deal, which will complement its growing brand portfolio and cement its position as Canada’s only premium cannabis company producing at scale.
  3. Green Growth Brands Inc. (OTC: GGBXF; CSE: GGB), acquired cannabis extract company, MXY Holdings LLC (commonly known as Moxie), for US$310 million to enable it to provide consumers CBD and THC products and distribution that runs from mainstream retail to cannabis dispensaries. In addition, GGB acquired 100% of Spring Oaks Greenhouses, Inc. which holds a medical marijuana dispensary license to operate up to 40 dispensaries in the state of Florida, for US$55 million.
  4. Canopy Growth Corp. (NYSE: CGC; TSX: WEED) acquired KeyLeaf Life Sciences, a large-scale Canadian extraction company with extraction-related facility in the U.S., to support its U.S. CBD expansion.
  5. Jushi Holdings Inc. (OTC: JSHHF; NEO: JUSH), a U.S. cannabis operator, acquired all of the membership interest of medical cannabis permit holders in Franklin Bioscience-Pen LLC from the Pennsylvania Department of Health, for US$63 million which allows for the opening of 12 medical marijuana dispensaries in Pennsylvania thereby cementing it as a leader in the state. In addition, Jushi acquired the intellectual property, including cannabis brands and trademarks, from The Clinic Consulting Services TM, for US$10 million.
  6. Halo Labs Inc. (OTC: AGEEF), a Toronto-based U.S. cannabis extraction company, increased its position in Bophelo Bioscience & Wellness Ltd. of Lesotho, Africa, the first African country to grant medical marijuana licenses for cultivation and patient use, for US$18.9 million, to strengthen its position in Africa.
  7. MedMen Enterprises Inc. (OTC: MMNFF; CSE: MMEN), a U.S. cannabis operator, acquired 100% of MattnJeremy Inc. LLC, a cannabis retailer in California operating under the name One Love Beach Club, for US$13 million. to enhance its industry-leading California footprint.
  8. PharmaCielo Ltd. (OTC: PHCEF; TSXV: PCLO), a Canadian cannabis oil company, acquired Cresco Pharma Ltd. (ASX:CPH), which has sales in 13 countries, for A$122 million, to complement its own networks in South America, Mexico, and Italy.
  9. Green Thumbs Industries Inc. (OTC: GTBIF; CSE: GTII), a U.S. a cannabis consumer packaged goods company and retailer, acquired Integral Associates for US$290 which will enable GTII to establish scale distribution of its products and establish a retail footprint in the Nevada market and in California.
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