Video Staff
MedMen had a busy week. The company acquired a Scottsdale Arizona cannabis company Monarch including the dispensary and cultivation operation. It comes with all the licenses and some exclusive brand agreements. MedMen also acquired Chicago-based dispensary Seven Point this week and announced that it closed on a $73 million loan facility, which immediately got bumped up another five million.
Dixie Brands is the latest to declare a reverse take over to go public in Canada. The cannabis beverage company will take over Academy Explorations. The company also completed $25 million fundraising round.
Innovative Industrial Properties (IIPR) began a public offering of 2.6 million shares. It is priced at $40.00 per share for gross proceeds of $104 million. intends to use the net proceeds from this offering to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry.
GW Pharmaceuticals (GWPH) said it planned on selling $300 million of ADS’s with a possible overallotment of $45 million. GW will issue 1,900,000 American Depositary Shares, representing 22,800,000 ordinary shares of GW, at a price to the public of $158.00 per ADS on the Nasdaq Global Market, raising gross proceeds of approximately $300 million (before deducting underwriting discounts, commissions and offering expenses). GW has granted the underwriters a 30-day option to purchase up to an additional 285,000 ADSs at the public offering price less underwriting discounts and commissions. It is expected to close on or about October 5, 2018.
Cannex Capital Holdings (CNXXF) reported that its revenues increased 223% to $3.4 million in its fiscal first quarter. Net income was $2.4 million versus a loss last year of $403 thousand for the ame time period. Revenue was generated primarily by way of packaging sales and rental income. Income for the period was $2,428,507 for Q1 2019, $.01 per share, as compared to a loss of $403,027 for the comparative period.
Aleafia Health (ALEAF) applied to list on the NASDAQ. The company currently trades in Canada on the OTC markets.
Hollyweed North Cannabis acquired Women Grow for an undisclosed amount.
