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Tilray (TLRY) Joins Cannabis Sector’s Pause, Which Is Good News For People Who Missed Its July IPO

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With the high-flying cannabis sector taking a pause, now is the time for investors to reassess their positions.

A good place to start would be by taking a moment to examine who is guiding cannabis-focused companies. In other words, who is it that is forming a company’s reputation.

Take, for example, high-flying Tilray, Inc. (TLRY). It’s a pioneer in medical cannabis research, cultivation, processing, and distribution. Now it is rapidly staking a strong place in Canada’s soon-to-be legal adult marijuana market.

Looking beyond its world-class research teams, investors will discover Tilray has one of the sector’s most prestigious board of directors.

Tilray’s board includes Rebekah Doop, who is a principal at Google. Then there’s Scotty Greenwood, who was chief of staff sat the U.S. Embassy in Canada, and is now the CEO of the Canadian American Business Council.

Of course, the board itself is not solely responsible for the 400 percent run up since Tilray’s July IPO. Still, it should comfort investors to know Tilray is in such good hands.

Doop and Greenwood are joined on the board by other corporate heavyweights, such as Christine St. Claire, who was a principal and lead audit partner at KPMG; Michael Auerbach, a risk expert who has held senior positions at the Center for American Progress and The Century Foundation, where he concentrated on issues related to U.S. Foreign Policy, National Security, and Conflict Resolution.

Rapid Expansion Into Legalized Pot

Based in British Columbia, Canada, Tilray is global concern. It is the only GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers in 11 countries on five continents.

It’s also perfectly positioned in the heart of Canada’s legalized cannabis industry.

The Prince Edward Island Cannabis Management Corporation recently selected a Tilray subsidiary to supply its adult-use cannabis.

The purchase order will allow its wholly owned affiliate, The High Park Company, to supply PEI’s four cannabis stores and online channels with cannabis products. It’s all in anticipation of the launch of the adult-use market on October 17, 2018.

In all, Tilray has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories, including British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory, and the Northwest Territories

Its subsidiary, High Park, is Toronto-based, and is led by a team with deep experience in cannabis and global consumer brands.

Tilray established High Park in order to develop, sell, and distribute a broad-based portfolio of adult-use cannabis brands and products. Its portfolio is uniquely crafted and grown by master horticulturists dedicated to sustainable growing practices.

Tilray’s shares were downgraded Northland Capital, which gave “complex valuations” as the basis of its esoteric reasoning. Tilray’s share price shed nearly 11 percent on the news.

But Tilray is a strong company.

It has a partnership to develop medical products with Sandoz Canada, a division of Novartis (NVS). Tilray also has a relationship with Privateer Holdings and marijuana information website Leafly, along with distribution deals with Shoppers Drug Mart, Pharmasave and various Canadian provinces.
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*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Planet 13 Holdings Inc (OTCMKTS: PLNHF) Announces Purchase of License to Operate as a Medical Marijuana Treatment Center

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Planet 13 Holdings Inc (OTCMKTS: PLNHF) has announced that it has finished the purchase of a $55 million license from the Florida Department of Health through Planet 13 Florida Inc, its subsidiary, that allows it to operate as a Medical Marijuana Treatment Center (MMTC) in the state. The company made the payment in cash.

Only MMTCs are permitted to supply to caregivers and qualifies patients

According to the Co-CEO of Planet 13, Robert Groesbeck, Planet 13 will place its attention on a few top-performing stores that are designed based on its Medizine dispensary. It will also focus on cultivating and manufacturing its top products in the state to introduce them to Florida. Planet 13 will also open its Superstores in highly populated areas in Florida as soon as the state makes adult cannabis legal in Florida.

MMTCs are the only businesses in the state that can supply qualified patients and caregivers with medical marijuana. These businesses focus on the cultivation, production, transport, and sale of medical marijuana.

By September 24, 2021, only 22 companies in Florida had MMTC licenses and had 370 locations in the state.  These companies have no limit on the size and number of cultivation facilities or dispensaries they can open.

Services offered by Planet 13

Planet 13, which started on April 26, 2002, has headquarters in Las Vegas. It holds more than six cannabis licenses which allow it to focus on the cultivation, production, and operation of dispensaries in Las Vegas. It also operates dispensaries in Orange County, California.

Planet 13 owns Superstore, which sells Medizine, one of its brands, and its product lines. The Planet 13 Superstore sells cannabis products in various forms such as concentrates, pre-rolls, edibles, and vapes. Other Planet 13 brands include Leaf & Vine and TRENDI. With Medizine alone, the company hopes to produce more award-winning products. Plant genetics for Medizine are hand-selected from Chloe, another award-winning strain.

The company aims to run high-end dispensaries and sell their products in their stores and to through third parties via wholesale. It is so far the most prominent entertainment complex and cannabis superstore in the world.

Planet 13 also owns Trece, which is a Mexican themed restaurant.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Trulieve Cannabis Corp (OTCMKTS: TCNNF) Announces Acquisition of Harvest Health & Recreation Inc (OTCMKTS: HRVSF)

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Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced that it has acquired all the outstanding and issued shares, super-voting shares and multiple voting shares on Harvest Health & Recreation Inc (OTCMKTS: HRVSF).

The company has announced that the acquisition will increase sales in its markets as it creates the biggest cannabis operator in the U.S through the combination of their cultivation and retail expertise.

According to the CEO of Trulieve, Kim Rivers,  the acquisition is a milestone for the company, which is a leading cannabis company in the U.S for adult and medical use cannabis. The move will allow Trulieve to grow further. The companies will also integrate further to make them a leading brand in the cannabis industry.

The CEO of Harvest, Steve White, adds that bringing together companies with vast expertise will grow in the coming years. Trulieve’s focus on providing quality products for its customers also goes hand in hand with Harvest’s desire to improve lives through cannabis.

Details of the transaction

The companies did the transaction per the Business Corporations Act. To complete the transaction, Trulieve issued a total of 50,874,175 of its shares.

Harvest shareholders will receive 0.1170 of subordinate voting shares from Trulieve for every Harvest subordinate voting share. The Canadian Securities Exchange will delist Harvest. It will also no longer have reporting obligations and will stop being a reporting issuer.

Benefits of the acquisition 

The acquisition comes with some benefits for the company, such as extending its product and brand portfolio.  Trulieve’s will add products from Harvest brands such as Roll One and Alchemy to its portfolio. It also brings together two different businesses that have vast experience and success in the cannabis industry.

The move will also improve Trulieve’s balance sheets by bringing together its $289 million and Harvests $71 million. This amount increased after Trulieve announced a $350 million debt financing and the $55 million in proceeds Harvest got from selling its Florida license.

Trulieve is a leading cannabis company with operations in 11 U.S states. It is a top performer in Pennsylvania, Florida, and Arizona. It also has operations in Massachusetts, Connecticut, West Virginia, and California. It runs about 100 dispensaries, 90 of which are in Florida.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Cresco Labs Inc (OTCMKTS: CRLBF) Announces Plans to Exit Third-party Distribution for Other Cannabis Companies

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Cresco Labs Inc (OTCMKTS: CRLBF) announced that it would exit any agreement where it exclusively serves as a third-party distributor for other branded cannabis products in California. This move is per the company’s plan to distribute its cannabis brands and increase profitability in California.

California has played a significant role in the success of Cresco Labs

According to the Co-founder and CEO of Cresco Labs, Charlie Bachtell, since the beginning of 2020, California has been monumental in the growth of Cresco Labs. At this time, the company was trying to operate the platform, Continuum to bring top brands to the state.

Bachtell adds that Cresco Labs has managed to penetrate the California market because of its leading brands, such as Kings Garden. Its strategy has also positioned another of its brands, FloraCal and Cresco Liquid Live Resin, and a top-15 and top-10 flower and live resin brands in the state.

The company plans to keep implementing strategies to accommodate each of its markets and hopes that this move will allow it to focus on its brands in California. The state has played a critical role in the company becoming a leading wholesaler in the cannabis industry.

Meanwhile, Cresco Labs will retain its partnership with a few top brands in the state. Ceasing distribution to third parties causes a lowering in the fourth quarter projected sales.

Services offered by Cresco Labs

Cresco Labs is a leading cannabis operator in the U.S. that focuses on the cultivation, manufacture, and sale of medical-use cannabis in the U.S. It aims to normalize cannabis. The company produces top quality brands such as FloraCal Farms, Wonder Wellness Co., Good News, Mindy’s Edibles, Remedi, High Supply, and Cresco. These products offer varying products such as flower shakes, and pre-rolls, which the company sells under the Cresco brand. The company has headquarters in Chicago, Illinois.

It also operates a dispensary brand known as Sunnyside. This dispensary aims to educate, build trust and offer convenience to cannabis users. Cresco Labs runs the largest Social Equity and Educational Development Initiative, SEED, in the cannabis industry. The SEED gives people the opportunity, skills, and knowledge to work in the cannabis industry and run their cannabis businesses. Cresco Labs has about 32 dispensaries and 44 retail licenses.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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