Connect with us

breaking news

Cresco Labs’ acquisition of Columbia Care pushed back to June

Published

on


MJ Biz reports

Marijuana multistate operators Columbia Care and Cresco Labs have “mutually agreed” to extend the companies’ acquisition closing date timeline from March 31 to June 30 of this year.

It’s the second such extension, which underscores the complexities of closing a large deal at a time when other acquisitions have been called off amid widespread layoffs and tight funding in the cannabis industry.

According to a news release, the extension will give Cresco and Columbia Care time to finalize asset divestiture agreements necessary to close the merger and obtain approvals from regulatory bodies.

Chicago-based Cresco Labs’ acquisition of Columbia Care, valued at approximately $2 billion last March, is contingent on both companies selling off a number of assets.

The megadeal initially had been scheduled to close in December 2022.

That date was postponed until March, raising questions about whether the merger would indeed close. The latest delay is sure to fuel added speculation.

Many of the companies’ assets are slated to be sold to rapper and business mogul Sean ‘Diddy’ Combs, who plans to create the first Black-owned multistate cannabis operator in the United States.

Assets in Florida, Maryland and Ohio still need to be sold to close the merger.

“We continue to make meaningful progress on the remaining divestitures and look forward to making those announcements,” Nicholas Vita, CEO of New York-based Columbia Care, said in a statement.

Read the full report at 

https://mjbizdaily.com/marijuana-mso-cresco-labs-acquisition-of-columbia-care-pushed-to-june/?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20230228_NEWS_Daily



Source link

Continue Reading

breaking news

Massachusetts: Office of the Inspector General Publishes Press Release Re Appointing A Receiver To Manage State’s Cannabis Commission

Published

on

By


Independent journalist Grant Smith Ellis  writes today to linked in

Press release from Massachusetts Inspector General confirms that a decision in June of 2024, by three CCC Commissioners, to strip the powers of acting agency Executive Director Debbie Hilton-Creek led to today’s emergency hearing request on Beacon Hill.

 



Source link

Continue Reading

breaking news

Movie Time In Oregon. Special Screening of Frenchy Dreams of Hashish

Published

on

By


CHEECHABLE & OG EMPIRE PRESENT:

A SPECIAL 7/10 with FRENCHY CANNOLI! We are pleased to announce a special screening and Oregon premier of the movie Frenchy Dreams of Hashish, a documentary by Jake Remington. Frenchy Dreams of Hashish showcases master hashishin Frenchy Cannoli’s lifelong pursuit of perfect hashish and highlights the ethos of sustainable, sun-grown cannabis. Join us as we celebrate the art of making hash and honor the late master, Frenchy Cannoli. Get your tickets here!

 



Source link

Continue Reading

breaking news

Curaleaf Start Process Of Getting Their Claws Into The UK’s National Health System – With Former MP (Resigned Today 30/5/24) As The Front Man

Published

on

By


It’ll take a while but the business plan to get Curaleaf products available via the NHS starts here…and the front man is  now former Conservative MP George Freeman

See the press release dated 28 May (scroll down)  about his involvement and and what a surprise

30 May 2024

George Freeman is no longer a Member, but was most recently the Conservative MP for Mid Norfolk, and left the Commons on 30 May 2024.

https://members.parliament.uk/member/4020/career

 

 

 

Positioned at the heart of the life sciences sector, the Cannabinoid Research & Development Group UK is a new research strategy group led by academics, researchers, clinicians, patients and industry.

The group will propel scientific research and development of pharmaceutical cannabinoid-related products in the UK.

Our ambition is to develop and implement a comprehensive strategy to transform the UK into the global leader in cannabinoid research and medicine development.

We will build a robust ecosystem by integrating universities, research institutions, investors, businesses, and the NHS – driving innovation and development, nurturing top talent and fostering advances in healthcare.

 

 



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media