Company News
Budweiser eyes the Other Bud Biz via Tilray Partnership: Beer giant Anheuser-Busch InBev, the maker of Budweiser, said this week it would invest $50 million in a new partnership with Canadian cannabis-grower Tilray Inc. aimed at developing CBD- and THC-infused beverages. Boston Globe
Boxer Mike Tyson Planning 2019 Cannabis-Friendly Music Festival: The Kind Music Festival, which hasn’t yet announced acts but describes itself as an all-ages music festival that embraces California’s updated cannabis regulations, will debut on Feb. 23 at the future site of the Tyson Ranch Resort, owned by former heavyweight boxer Mike Tyson. Assembly Bill 2020, which was signed into law by Gov. Jerry Brown, goes into effect at the beginning of the year. It allows the state to authorize cannabis events at any venue that has local approval. The festival plans to sell alcohol, but will not sell cannabis products, according to a release from organizers. However, that doesn’t mean that people 21 and older are barred from lighting up and partaking. Press Enterprise
Netflix Docuseries Looks at Effects of Cannabis Business: Murder Mountain, a six-part Fusion docuseries now streaming on Netflix, follows the disappearance and murder of 29-year-old Garret Rodriguez, a friendly surfer-boy from San Diego who ventured north to cash in on California’s green rush. Through the search for clues in his case—handled almost entirely by his family and a private investigator, in the face of an apathetic local police force—the series infiltrates the notoriously close-knit community of Alderpoint, shedding light on how this supposed Eden became a haven for criminality. Daily Beast
Hostile Bid for Pot Producer Aphria Comes from Billionaire Ohio Family’s new U.S. Company; Aphria Rejects Bid: Backed by the wealthy and powerful Schottenstein family, U.S. marijuana producer Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) said late Thursday it is making a takeover bid for Aphria Inc. (TSX: APHA) (NYSE: APHA), one of Canada’s largest cannabis producers by market value. Aphria’s U.S. listed stock soared 26% in after-hours trading Thursday after closing down 4.3% at $5.57 during the regular session. The stock was up about 17% in premarket trade Friday. Aphria’s Canada-listed shares were halted after the close.Green Growth said that its offer values Aphria at C$11 a share, or roughly $2.1 billion, which represents a 46% upside to Aphria’s closing price on Dec. 24. Aphria responded early Friday by saying the offer “significantly undervalues” the company, but that it would form an independent committee to review it. Marketwatch Aphria Inc. rejected the hostile offer., saying it significantly undervalues the company. Bloomberg
Canada’s MedC to Develop Cannabis-Based Cancer Treatment Based on Israeli Technology: Cannabis treatment company MedC Biopharma Corporation of Canada announced earlier this month it has a global licensing agreement for a cannabis-based anti-cancer treatment developed at Israeli government research body Agricultural Research Organization (ARO), Volcani Center. MedC, founded by Israeli brothers Avi and Guy Drori, also announced a partnership with a subsidiary of Israel-based Nextar Chempharma Solutions, an outsourcing company for drug development and manufacturing services, to develop treatments. Volcani Center is preparing to submit the patents for the treatment of Cutaneous T cell lymphoma (CTCL), a type of immune system cancer that is classified by the U.S. Food and Drug Administration as an orphan disease. Clinical trials are planned for the beginning of 2019. CalCalist
Good Tree Launches Social Equity Incubator, Seeks to Grow Black Entrepreneurship in Cannabis As several states have legalized marijuana, giving birth to very successful and profitable businesses, black people weren’t part of the picture: only 4 percent of cannabis businesses are African American-owned. Seeking to address this racial inequity, major cities in California, Maryland, and Massachusetts have either started or are looking to start social equity programs. These programs strive to provide people of color with opportunities to enter the multibillion-dollar legal cannabis industry. Rashaan Everett is the founder of Good Tree, a vertically integrated medical cannabis delivery service and cultivation operations franchise, and Growing Talent, a social equity incubator launched in collaboration with cannabis compliance software developer Simplifya.The equity incubator aims to provide a comprehensive curriculum comprised of videos, written coursework and other materials provided by the law firm Vicente Sederberg. Applicants will be trained on how to use Simplifya’s compliance platform to mitigate their risk. Benzinga
Cannabis REIT Investing $25 Million in Illinois MMJ Grow Facility – Innovative Industrial Properties, a San Diego real estate investment trust (REIT) serving the medical marijuana industry, is spending up to $25 million to acquire and a lease out a property in Illinois that is slated to be used as an MMJ cultivation and processing facility. Innovative Industrial Properties, bought the 10-acre property in Barry, a small town in western Illinois, for $19 million, according to a news release. The REIT also entered into a lease and development agreement with Boston-based Ascend Wellness Holdings. MJ Biz Daily
Horizons ETFs Rebalances its Marijuana-Focused Funds: Horizons ETFs Management (Canada) Inc. (“Horizons ETFs“) has completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (“HMMJ:TSX“) and the Horizons Emerging Marijuana Growers Index ETF (“HMJR:NEO“). HMMJ is the world’s first ETF offering direct exposure to North American-listed securities that are involved with marijuana bioengineering and production. Once again, the ETF has added additional companies to its portfolio as more firms have become eligible for inclusion in its underlying index – the North American Marijuana Index. The Cannabis Investor
HEXO Reaches Construction and Licensing Milestones for its Massive 1 million sq. ft. Greenhouse – on Time and on Budget: HEXO Corp (TSX: HEXO) (OTCPK: HYYDF) has reached a construction and licensing milestone with the first phase of its 1 million sq. ft. greenhouse expansion. The expansion is ready and licensed on time and on budget for plants to move in. The Cannabis Investor
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