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InterCure’s $35M purchase of Israeli marijuana producer Better scrapped

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Israeli cannabis producer InterCure’s proposed acquisition of rival medical marijuana company Cann Pharmaceutical, also known as Better, was terminated after the companies failed to bridge differences.

Herzliya-based InterCure had announced the proposed transaction, valued at $35 million (44.4 million Canadian dollars), approximately one year ago.

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It’s the latest breakup in the cannabis industry and underscores the difficult market conditions facing marijuana companies.

They include a dearth of funding, falling wholesale cannabis prices and macroeconomic headwinds.

In January, U.S. multistate operator Ayr Wellness said it canceled its planned acquisition of Chicago marijuana retailer Dispensary 33, noting the “cannabis market has changed significantly in the 15 months since” the proposed $55 million deal was hammered out.

In a Wednesday news release, InterCure said its plan to purchase Better, based in Tel Aviv, Israel, was terminated because the closing conditions in the original agreement had not been met.

The terms

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Massachusetts’ adult-use marijuana sales topped $1.6 billion in 2024

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Marijuana retailers in Massachusetts recorded $1.65 billion in sales of adult-use products between Jan. 1, 2024, and Jan. 5, 2025.

That’s according to data from the state’s Cannabis Control Commission, which noted that recreational cannabis sales in December 2024 reached $140.2 million, the third-highest monthly total since Massachusetts legalized an adult-use market in November 2018.

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Other top sales months were August 2024 ($147.6 million) and July 2024 ($142.8 million).

During the week ended Jan. 5, 2025, flower represented 40.5% of sales, vapes 19% and pre-rolls 12.6%, followed by edibles and concentrates.

In April, Massachusetts cannabis regulators announced that adult-use sales had surpassed $6 billion since the market launched.

According to the latest figures, recreational cannabis sales in Massachusetts now top $7.2 billion.

Despite

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Trudeau’s departure is a turning point for Canada’s cannabis industry

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Deepak Anand (Courtesy photo)

As Canada’s cannabis industry stands at a pivotal crossroads, the impending departure of Prime Minister Justin Trudeau marks the end of an era that reshaped Canada’s relationship with the plant.

Trudeau’s bold decision to legalize recreational cannabis in 2018 not only transformed the nation’s social and economic landscape but also established it as a global pioneer in marijuana reform: Canada remains the only G7 nation to have federally legalized the plant both for medical and adult-use purposes.

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The impact of cannabis legalization on Trudeau’s legacy is undeniable.

Recent polls indicate that 62% of Canadians support cannabis legalization, a testament to

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President Trump will decide marijuana rescheduling, federal reform

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Did Donald Trump mean it when he said he wanted marijuana reform – and will the former and current president follow through?

With the marijuana rescheduling process paused indefinitely – its future is at the mercy of Trump’s future choice to lead the U.S. Drug Enforcement Administration – and Republicans in Congress mostly bent to the once and current president’s will, nothing less than the future of the $32 billion marijuana industry depends on the answer.

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Trump made history in September when he became the first major-party presidential nominee to endorse a state adult-use legalization campaign.

Though Trump’s backing of Florida’s Amendment 3 – some critics say his endorsement was mostly spurred by his acrimonious relationship with Florida Gov. Ron DeSantis – didn’t

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