The Every day Hit: February 15, 2022

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On The Website

MedMen

Ascend Wellness (OTC: AAWH) has pulled off the gloves in its newest criticism (filed on February 14, 2022) towards MedMen (OTC: MMNFF) calling the corporate, “A damaged and mismanaged hashish firm that has repeatedly reneged on its guarantees to its workers, suppliers, shareholders, medical marijuana sufferers, regulators, and now Ascend.” MedMen had agreed to promote its New York property to Ascend, however the deal was contingent upon New York State giving approval to the deal. The state regulators gave an ambiguous approval in December however tried to make clear that language within the waning hours of 2021. MedMen has since refused to shut the deal saying the state hadn’t actually given ultimate approval and accusing the state and Ascend of affect peddling. Learn extra right here

Cann

Infused beverage firm and movie star favourite Cann introduced a $27 million Collection A funding spherical coming from contemporary institutional capital in addition to current buyers like  Imaginary Ventures who added to its authentic funding. Cann was launched in 2019 and raised $5 million in a seed spherical in 2020. Cann added its latest movie star buyers Nina Dobrev, Julianne Hough, Sara Foster, Paul Scheer, and Adam Devine. They be a part of present buyers, Gwyneth Paltrow, Baron Davis, Insurgent Wilson, Kate Hudson, Rosario Dawson, Darren Criss, Casey Niestat, Tove Lo, and Bre-Z. Learn extra right here.

iPower

Hydroponic tools firm iPower Inc. (Nasdaq: IPW) reported its monetary outcomes for its fiscal second quarter ended December 31, 2021, with whole income rising 52% to $17.1 million. iPower mentioned that the rise was pushed by better in-house product gross sales and robust demand for air flow merchandise. The corporate reported that its internet earnings elevated 39% to $0.8 million or $0.03 per share. Learn extra right here

Acquisitions

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With so many offers by no means making it to the end line, two hashish firms closed on strategic offers at this time. Trulieve Hashish Corp. (CSE: TRUL) (OTCQX: TCNNF) accomplished the acquisition of an operational 64,000 sq. ft. cultivation facility in Phoenix, Arizona. Trulieve mentioned it is going to pay $13.75 million money at closing, with potential milestone funds topic to earn-out and escrow necessities. Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) has closed the acquisition of Cultivauna, LLC, the proprietor of Levia branded cannabis-infused seltzers and water-soluble tinctures. Learn extra right here.

KetaDASH

Ehave, Inc. (OTC Pink: EHVVF) reported that its wholly-owned subsidiary, KetaDASH has began medical operations which can be providing in-home ketamine remedy to sufferers affected by treatment-resistant psychological well being points. Ehave mentioned that the therapy will likely be provided within the San Francisco Bay Space and Higher Sacramento Space first with plans to develop to different markets within the coming months. Learn extra right here.

In Different Information

Aleafia Well being Inc.

Aleafia Well being Inc. (OTCQX: ALEAF) reported its monetary outcomes for the three and 12 months ended December 31, 2021, final after the market closed on Monday. Internet income was $36.1 million for the 12 months ending December versus $44.5 million within the 12 months ending December 2020. For the fourth quarter, internet income was $8.8 million, in contrast with $15.2 million in This autumn 2020. The corporate mentioned the decline in internet income was primarily based on shifting from decrease margin, larger quantity bulk wholesale commodity hashish income to higher-margin, larger efficiency and progressive adult-use merchandise, providing a singular worth proposition. Learn extra right here.



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Disclosure

The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are normally not meant to diagnose, take care of, treatment, or forestall any sickness. All information discovered proper right here won’t be meant as another option to or completely different from information from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or completely different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.

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