Kaitlin Domangue
It’s time for your Daily Hit of cannabis financial news for February 2nd, 2020.
On the Site
Vangst Report Shows Cannabis Jobs on the Rise
Vangst projects that 26,241 new cannabis jobs will be added by the year 2025, based on the five newly legalized states: Arizona, New Jersey, Mississippi, Montana, and South Dakota. The jobs, unfortunately, have a few downsides – low pay being one of them. Social equity also seems to be lacking, with more talk happening than action. The cannabis industry, however, excels at the benefits it provides its employers. Things could be worse.
Money Moves: Aleafia Health, Sundial Growers
Sundial Growers Inc. (NASDAQ: SNDL) has closed a best efforts underwritten registered offering of 100,000,000 Series A Units with gross proceeds from the offering coming at approximately $100 million, before deducting underwriting discounts and estimated offering expenses. In addition to that announcement, Sundial also said that it has priced a best efforts underwritten registered offering of 60,500,000 Series A Units raising $74.5 million. The exercise price of the Series A Warrants will be $1.10 per common share.
In Other News
Cresco Labs Scores Recreational License in Arizona
The MSO has been approved to sell cannabis Arizona’s new adult-use market. The approval was granted for the company’s Sunnyside dispensary in Phoenix. The dispensary is currently operating as part of the medical landscape, and will be serving adult-use consumers, too.
