Marijuana Money: December 10, 2021

In Congress, a new version the National Defense Authorization Act (NDAA) did not include banking reform. Senator Schumer has insisted on focusing full marijuana reform instead of tackling safe banking. Rep. Perlmutter filed an amendment in committee to attach the marijuana language to the legislation— but he ultimately didn’t insist on a vote.

 

This week included National Brownie Day and what better way to celebrate than creating the world’s largest edible – an infused brownie. MariMed, Inc. (OTCQX: MRMD) unveiled the world’s largest -infused brownie in celebration of the launch of its new brand Bubby’s Baked and National Brownie Day and the news went crazy – even landing on the Jimmy Kimmel show. 

 

There were a few acquisitions this week to discuss:

 

Tilray, Inc. (NASDAQ: TLRY) is buying Breckenridge Distillery, a leading distilled spirits platform located in Breckenridge, Colorado that is widely known for its award-winning bourbon whiskey collection and innovative craft spirits portfolio. Tilray didn’t disclose the price it paid for the company but it did say that the acquisition will be immediately accretive to EBITDA. 

 

Agrify Corporation (Nasdaq: AGFY) is buying extraction company PurePressure for $9 million. PurePressure engages in solventless extraction and advanced ice water hash processing in the and hemp industry. 

 

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF)  is buying Pineapple Express Delivery Inc., Canada’s largest delivery and logistics company serving the cannabis sector in a deal valued at $5.3 million

 

In money moves, Schwazze (OTCQX:SHWZ) has entered into a securities purchase agreement for $95 million of principal amount and $93 million of funding amount of convertible notes. High Tide Inc.  (TSXV: HITI) (NASDAQ: HITI) announced that it was going to issue up to C$40 million (or the equivalent in U.S. dollars) of common shares at the company’s discretion and subject to regulatory requirements.

 

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) reported total revenue of $6.5 million for the fourth fiscal quarter. The company also delivered a net income of $1.1 million, an increase of $5.0 million from a net loss of $3.9 million in the fourth quarter of 2020. 

 

And finally Chicago Atlantic Real Estate Finance, Inc., priced its common stock at a public offering price of $16.00 per share. Shares began trading on The NASDAQ Global Market using the symbol “REFI.” 

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