Barely a quarter of cannabis users trust their doctor to provide them with reliable information about medical cannabis and how to use it to treat their medical or health conditions, according to a recent survey. At the same time, 80% of those surveyed said that they would be willing to use medical cannabis to treat a medical condition if it was recommended by their physician.
New Cannabis Ventures
AWH intends to use the proceeds to (i) repay substantially all of the Company’s debt excluding approximately US$12 million of outstanding acquisition payments with near-zero interest rates, (ii) finance the Company’s pending investment in MedMen NY, Inc. and (iii) support the Company’s future growth and acquisition initiatives. It is a mark of how the cannabis debt markets have improved that there was no warrant coverage necessary as a prerequisite to the deal.
Marijuana Business Daily
North American cannabis company TerrAscend plans to enter Michigan’s marijuana market after reaching a deal to buy local operator Gage Growth in an all-stock transaction worth $545 million. Under terms of the deal, Gage shareholders will receive 0.3001 common shares of TerrAscend in exchange for each Gage share, representing an 18% premium for Gage shares based on the companies’ closing share prices Tuesday.
New Cannabis Ventures
The destination dispensary chain continues to expand following the opening of their 2nd store in Orange County, California. With the upcoming merger between Harvest and Trulieve, this deal marks a meaningful step in consolidating the license regimes between those two organizations, and the first step towards Planet 13 bringing their dispensary experience to the East Coast.
Gov. Kathy Hochul vowed that getting New York’s budding marijuana sales program off the ground will be a high priority. Hochul on Wednesday promised to clear the logjam. “Nominating and confirming individuals with diverse experiences and subject matter expertise, who are representative of communities from across the state, to the Cannabis Control Board is a priority for Gov. Hochul,” the new governor’s spokesman, Jordan Bennett, told The Post.
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This Week's Cannabis News: August 26th, 2021
Booming Massachusetts marijuana market offers select cultivation, retail opportunities (MJ Biz Daily) | Legal weed dispensaries banned in more than 70% of NJ towns (NJ Herald) |