GROWTH FOR CANOPY
Canopy pushes further into the US
While Alberta-based Aurora sold off its Sun greenhouse at a fraction of its cost, Ontario-based Canopy announced plans to acquire California extracts and vape company Jetty, according to a press release. Like other Canopy acquisition plans in the US, the deal is contingent upon federal cannabis legalization “or earlier at Canopy Growth’s election.”
About Jetty Extracts
- Founded in 2013
- Top 10 cannabis brand in California
- Top 5 in the vape category
Under the agreement, Canopy will make aggregate and upfront payments of cash and common shares worth about US $69 million for 75% of the company, and will have the option to acquire the rest of the company at a later date.
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MY GUEST NEEDS A SMOKE
Kevin Durant gets high before David Letterman interview
NBA superstar Kevin Durant told David Letterman he smoked cannabis before their interview about the changing attitudes toward the drug, reports the New York Post.
“To me, it clears the distractions out your brain a little bit. It settles you down. It’s like having a glass of wine,” he said in a clip that went viral on Twitter, adding that he had smoked before the interview. “I’m actually high right now.”
The Brooklyn Nets power forward announced a partnership to supply content to Weedmaps last year. The full interview will be available on Netflix’s My Guest Needs No Introduction on May 20.
LEGACY TO LEGAL
Legacy faves Blessed and Flir are now legal
At long last, Canadian pre-legalization edibles entrepreneurs Angelina Musicco and Riley Starr have transitioned to Ontario’s legal market through a partnership with Gallery Brands, per Business of Cannabis.
Quebec-based craft brewer and chocolatier Starr, who was known for E/P Infusions drinks, will launch a series of infused chocolate under the brand name Flir. With flavours like blended dark milk and orange as well as matcha and black current, they sound amazing.
Musicco’s brand Blessed will launch with a vegan, gluten-free and sugar-free infused mint chocolate bar developed with chocolatier Brandon Olsen. “My mantra has always been Train. Treat. Repeat,” she said. “From the gym to the boardroom, I push myself hard everyday, I’m no stranger to pain. Years ago, we developed the perfect product to treat myself and my taste buds. I’m proud to introduce this to the Canadian market.”
Intercure reports ‘all time record’ results
Israel-based Intercure’s share price shot up by 20% after reporting “all time record” quarterly results, reports BusinessCann.
But during an investor presentation this week, CEO Alexander Rabinovitch said the international-focused company will achieve more when it has successfully scaled up its supply chain.
“We are still far away from meeting the strong demand for our products, even in the Israeli market,” he said. “In fact, we could have so much more if we have more supply.”