Marijuana MSO TerrAscend will restructure in bid to list on TSX

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2 years ago

April 21, 2023

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Marijuana multistate operator TerrAscend Corp. revealed its plans to reorganize in a way that will allow the U.S. plant-touching company to list on the Toronto Stock Exchange (TSX).

If 66 2/3% of votes cast by shareholders agree to the proposal in a meeting scheduled for June 22, trading on the TSX could begin shortly after, according to a news release.

The proposal, detailed in a proxy filed April 20, also requires final approval from the TSX.

TerrAscend also increased its ownership of Cookies Retail Canada Corp. to 95% of issued and outstanding shares.

The company in March announced its plans to list on the TSX in March.

A successful move to the TSX could blaze a trail for other U.S. plant-touching operators to tap into a wider investor pool on the larger exchange.

Both Ontario, Canada-based Canopy Growth, which is accelerating its plans to acquire U.S. operators,

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Marijuana firms Eaze, Green Dragon find new life after $10 million capital infusion

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2 days ago

November 12, 2024

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Newly rebranded California-based marijuana operator Eaze raised $10 million to acquire select assets of Eaze Technologies, its predecessor company, to fund the reopening of 70 Eaze and Green Dragon locations across California, Colorado, Florida and Michigan.

The now-defunct Eaze Technologies, which purchased Denver-based Green Dragon about three years ago, announced in October that it would close its Colorado and Florida operations.

Billionaire Jim Clark, founder of defunct tech company Netscape, provided the funding, which was announced Tuesday, and now has controlling ownership of the new entity, Eaze.

CEO Cory Azzalino said the company does not intend to reimagine its business model, which it shifted four years ago from a delivery platform to a plant-touching entity.

“The focus going forward will be continued expansion

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Oregon voters approve pro-labor change to state cannabis law

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6 days ago

November 8, 2024

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Voters in Oregon appear to have approved an organized labor-friendly change to state cannabis law that’s had mixed results in other states.

With more than 80% of ballots counted, 55.7% of state voters cast yes ballots on Measure 119, which will require cannabis operators in the state to submit a “labor peace agreement” to regulators before receiving or renewing business permit, Oregon Public Broadcasting reported.

The voter initiative’s main sponsor was the United Food and Commercial Workers (UFCW) Local 555, which spent more than $2.8 million on the campaign after a failed attempt to impose a labor peace agreement (LPA) requirement through the state Legislature.

Several other states, most notably California, require cannabis businesses to have an LPA as part of licensing

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Infused beverages lead marijuana product sales spike on Election Day

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6 days ago

November 8, 2024

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Marijuana product sales jumped nearly 6% on Election Day compared to the previous three Tuesdays, according to Seattle-based cannabis industry analytics provider Headset.

Nearly every product category experienced an increase in sales in the 15 regulated U.S. marijuana markets tracked by Headset.

THC-infused beverages were the product of choice for many cannabis consumers on Election Day; sales in that category jumped 14.2% on Tuesday, the biggest increase in any segment.

Beverages typically account for 1% or 2% of retail sales, although infused beverage sales spike during the holidays, when social gatherings increase, according to Headset Data Analyst Mitchell Laferla.

“In 2024, the Beverage category saw the largest spike in total sales across all categories on 4/20, 4th of July, and Labor Day,”

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