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Cannabis Sector Weekly Roundup

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·5 min read
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Key Takeaways:

  • Trulieve continued to reopen Harvest stores and add to its Florida footprint, which now includes 102 stores. It also added a dispensary in Pittsburgh, giving it 14 in Pennsylvania.

  • Greenlane Holdings will be buying DaVinci, a vaporizer company, for up to $20 million in cash, stock and earnouts and milestones.

  • Curaleaf Holdings expanded its B NOBLE brand to six additional states.

  • Cronos Group launched its first products that contain cannabinoids produced through biosynthesis.

  • Awakn Life Sciences Bristol Clinic Receives Care Quality Commission Approval to Begin Treatments in the U.K.’s First Medical Psychedelic Clinic.

Awakn Life Sciences Corp. (OTCMKTS: AWKNF)

Awakn Life Sciences Corp. is a biotechnology company that develops and delivers psychedelic therapeutics to treat addiction. On October 20, 2021, the Company announced that Awakn Clinics Bristol had received Care Quality Commission’s (CQC) formal approval to begin treatments.

“This is a very exciting moment for Awakn Life Sciences, but more importantly for anyone suffering from addiction or other mental health issues in the U.K,” said Dr Ben Sessa, Chief Medical Officer of Awakn Life Sciences. “The recognition from the CQC is a step forward in having psychedelic therapies become a part of mainstream treatments. With the Bristol clinic recognized, Awakn remains committed to having clinical operations open to the public, to help those people who need it the most.”

Awakn Clinics Bristol is the second of three Awakn clinics to be operational this year: Bristol and London in the U.K. and Oslo in Norway, which was the first. Treatments at the clinic will be led by on-site psychiatrists and will treat many mental health disorders and addictions.

Greenlane Holdings, Inc. (NASDAQ: GNLN)

Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and speciality vaporization products in the United States, Canada, Europe, Australia, and South America. The Company provides vaporizers, liquid nicotine, storage solutions, pipes, apparel lines, consumption accessories, bubblers, rigs, and other smoking and vaporization-related accessories and merchandise.

On Tuesday, October 19, 2021, Greenlane announced it had entered into a definitive agreement to acquire DaVinci, a leading developer and manufacturer of premium portable vaporizers. DaVinci is an industry-leading brand differentiated through its groundbreaking Clean First innovation, which employs medical-grade materials and total quality manufacturing processes to ensure the cleanest technology goes into the development of its products. DaVinci’s product line has grown significantly since the launch of its award-winning I.Q vaporizer in 2016. The vaporizer includes new innovative models such as the MIQRO, the world’s smallest premium loose-leaf vaporizer, IQ2, the world’s first on-device dosage control, and the IQC, equipped with a patented ShareSafe mouthpiece created from an FDA-approved antimicrobial polymer.

“At DaVinci, we have been committed to approaching product development with vision and imagination, and we are thrilled to join Greenlane as strong partners in innovation. We are excited to join a team that shares our drive to harness new and changing technologies to engineer consumer experiences that align with the evolving needs of a dynamic, growing cannabis industry,” said Cortney Smith, Founder and CEO of DaVinci.

The acquisition deal is worth a whopping figure of $20 million in cash, stock and earnouts and milestones.

Curaleaf Holdings, Inc. (OTCMKTS: CURLF)

Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. The Company operates in two segments, Cannabis Operations and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. The Non-Cannabis Operations segment provides professional services, including cultivation, processing, retail know-how and back-office administration, intellectual property licensing, real estate leasing services, and lending facilities to medical and adult-use cannabis licensees under management service agreements.

Curaleaf announced the continuation of its national roll-out of the B NOBLE brand two-pack pre-rolls to dispensaries in Arizona, Illinois, Maine, Michigan, Nevada, and Oregon. On July 2021, Curaleaf rolled out the brand in Massachusetts and Maryland, and on October 20, 2021, the Company announced that the B NOBLE band would now be available in six more states.

B NOBLE was founded in partnership with well-known visual artist, filmmaker and hip-hop pioneer Fab 5 Freddy to raise awareness and create funding to defend people from cannabis-related criminalization. The brand is dedicated to telling the story of namesake Bernard Noble, who was arrested in Louisiana and sentenced to 13 years in prison for possessing the equivalent of two joints.

“Our partnership with Curaleaf is our deeper dive into dedicated social equity work,” said Fab 5 Freddy. “B NOBLE exists to generate support for the defence of people impacted by the War on Drugs.”

Cronos Group Inc. (NASDAQ: CRON)

Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States

On Wednesday, October 20, 2021, announced the launch of its SPINACH FEELZ Chill Bliss 2:1 THC|CBG gummy, the first cannabis edible of its kind in Canada to feature THC and cultured cannabigerol (“CBG”) from fermentation in a sweet, delicious gummy for adult consumers. As the only cannabis gummy in Canada to feature cultured CBG, one of many rare cannabinoids found in small quantities within the cannabis plant, this gummy is formulated to deliver a happy and relaxed experience.

The post Cannabis Sector Weekly Roundup appeared first on Market Exclusive.