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Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany

By Jelena Martinovic
June 5, 1:48 PM
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,

CSE:IMCC

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Craft Cannabis Co. Grown Rogue Expands In This Booming East Cost Weed Market Via New Acquisition

By Jelena Martinovic
June 5, 11:30 AM
Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) has obtained licensing approval with the New Jersey Cannabis Regulatory Commission and closed its first option to acquire 44% of ABCO Garden State, LLC on Friday, May 31.Obie Strickler, the company's CEO, said "All regulatory approvals from the CRC have been received and we exercised and closed our option to acquire 44% of ABCO."Under the deal, Grown Rogue has an option to acquire 70% of ABCO through two options, including Option 1 and Option 2, for 44% and 26%, respectively.

CSE:GRIN

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Cannabis Joint Venture Looks To Capitalize On Marijuana Beverages As Growing Alternative To Alcohol

By Jelena Martinovic
June 4, 2:05 PM
Flora Growth Corp. (NASDAQ: FLGC) has formed a joint venture with Althea Group Holdings (ASX: AGH) to debut in the hemp-derived beverage market.Peak USA JV LLC is designed to capitalize on current commercial opportunities in the beverage market in the U.S.It will utilize and combine Flora's U.S.-based CPG team with Althea's Peak Processing Solutions - which is a recognized operator in the cannabis-infused beverages space. Peak has a 40% market share in Canada.

FLGC

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Canopy Growth Doubles Down On Its USA Strategy, Announces Exercise of Acreage Options

By Jelena Martinovic
June 4, 12:51 PM
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced on Tuesday today that the option to acquire all of the issued and outstanding Class E subordinate voting shares of Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), has been exercised.The latest move is by the terms of the arrangement agreement dated April 18, 2019, as amended, between Canopy Growth and Acreage.In connection with the arrangement agreement dated October 24, 2022, by and among Canopy Growth, Canopy USA, LLC and Acreage, as amended, in respect of the Class D subordinate voting shares of Acreage, on closing, Canopy USA will acquire all of the fixed shares and floating shares and Acreage will become a wholly-owned subsidiary of Canopy USA.

ACRDF