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Tilray Makes Public Debut Worth 153 Million

Tilray Makes Public Debut Worth 153 Million

A heavily anticipated initial public offering (IPO) from Tilray finally made its debut on the Nasdaq with a higher price tag than expected on Thursday (July 19). During its first day in the public market, Tilray’s stock delivered on anticipation from the investor...

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Featured Articles

Tilray Makes Public Debut Worth 153 Million

Tilray Makes Public Debut Worth 153 Million

A heavily anticipated initial public offering (IPO) from Tilray finally made its debut on the Nasdaq with a higher price tag than expected on Thursday (July 19). During its first day in the public market, Tilray’s stock delivered on the anticipation from the investor audience with an offering size of approximately US$153 million. The offering is expected to complete on July 23. The cannabis producer started offering 9 million shares with an initial price tag of US$23.05 each–an increase from the original plan to sell between US$14 and US$16. At the end of Thursday’s trading session TLRY was worth US$22.39 per share. Tilray will trade its class 2 common stock shares with subordinate voting power under the ticker symbol “TLRY.” The producer’s parent company Privateer Holdings, a private equity firm based in Seattle, holds all of the multiple-voting shares, according to The Globe and Mail.

Hemp Land, Cannabis Hemp Blog, 04/09/2021 07:56:00

Open article: https://hempland.net/tilray-makes-public-debut-worth-us153-million/

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Alabama House Committee Approves Medical Marijuana Legalization Bill Already Passed The Senate

Alabama House Committee Approves Medical Marijuana Legalization Bill Already Passed The Senate

A Senate-passed bill to legalize medical marijuana in Alabama cleared a key House committee on Wednesday, but not before members also approved a number of amendments to the proposal. The legislation, sponsored by Sen. Tim Melson (R), would allow people with qualifying conditions to access cannabis for therapeutic purposes. The Senate approved the proposal last month, and now the House Judiciary Committee has advanced it in voice vote. The measure will now head to the House Health Committee before moving to the floor. Melson is the same lawmaker who sponsored a similar bill that was approved by the full Senate last year but which later died without a House vote amid the coronavirus pandemic. This latest proposal would establish an Alabama Medical Cannabis Commission to implement regulations and oversee licensing. To qualify for the program, patients would have to be diagnosed with one of about 20 conditions, including anxiety, sleep disorders, post-traumatic stress disorder and intractable pain.

Kyle Jaeger, Marijuana Moment, 04/07/2021 16:48:00

Open article: https://www.marijuanamoment.net/alabama-house-committee-approves-medical-marijuana-legalization-bill-already-passed-the-senate/

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Texas Lawmakers Tackle Marijuana Decriminalization, Medical Cannabis And Hemp In Committee Hearings

Texas Lawmakers Tackle Marijuana Decriminalization, Medical Cannabis And Hemp In Committee Hearings

Cannabis reform is the hot topic in the Texas legislature this week, with lawmakers holding hearings on multiple marijuana decriminalization bills, a proposal to expand the state’s medical cannabis program and another piece of legislation concerning hemp regulations. The bills were separately scheduled for discussion in three House committees throughout the week, raising hopes for advocates that lawmakers may still advance cannabis reform this year despite setbacks from the coronavirus pandemic and the state’s ice storm. Five of the proposals that were heard in the House Criminal Jurisprudence Committee on Tuesday would decriminalize possession of various amounts of marijuana by making it a class C misdemeanor, which does not carry the threat of jail time. The possession thresholds range from one to four ounces.

Kyle Jaeger, Marijuana Moment, 04/07/2021 13:17:00

Open article: https://www.marijuanamoment.net/texas-lawmakers-tackle-marijuana-decriminalization-medical-cannabis-and-hemp-in-committee-hearings/

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Virginia Lawmakers Approve Governor’s Marijuana Amendment To Speed Up Legalization

Virginia Lawmakers Approve Governor’s Marijuana Amendment To Speed Up Legalization

he Virginia House of Delegates and Senate have both accepted the governor’s amendment to their respective versions of legislation to legalize marijuana in the state, including a revision that will push up the timeline to allow adults to possess and cultivate cannabis for personal use this summer instead of in 2024. Gov. Ralph Northam (D) has been strongly advocating for the reform, and lawmakers sent bills to legalize marijuana for adult use to his desk in February. Late last month, the governor formally submitted substitute language to the bills, and on Wednesday, both chambers approved the proposed changes to their own versions, with the House accepting its revised measure, 53-44, and the Senate clearing its legislation by a vote of 21-20, with Lt. Gov. Justin Fairfax (D) breaking a tie.

Kyle Jaeger, Marijuana Moment, 04/07/2021 16:35:00

Open article: https://www.marijuanamoment.net/virginia-lawmakers-approve-governors-marijuana-amendment-to-speed-up-legalization/

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Canopy Growth to Acquire Supreme Cannabis for $435 Million in Stock

Canopy Growth to Acquire Supreme Cannabis for $435 Million in Stock

Canopy Growth Corporation nd The Supreme Cannabis Company, Inc announced that they have entered into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis’ issued and outstanding common shares (the “Supreme Cannabis Shares”) in a transaction valued at approximately $435 million on a fully-diluted basis. Under the terms of the Arrangement Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Cannabis Share held. The Transaction provides Supreme Cannabis shareholders with a premium per Supreme Cannabis Share of approximately 66% based on the closing prices of the Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange as of April 7, 2021. The Transaction is expected to provide several benefits to both Canopy and Supreme Cannabis shareholders.

Published Ncv Newswire, New Cannabis Ventures, 04/08/2021 08:46:00

Open article: https://www.newcannabisventures.com/canopy-growth-to-acquire-supreme-cannabis-for-435-million-in-stock/

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Curaleaf Closes EMMAC Deal, Raises $130 Million For Expansion

Curaleaf Closes EMMAC Deal, Raises $130 Million For Expansion

Curaleaf Holdings, Inc. (OTCQX: CURLF) has successfully completed the previously announced acquisition of the European-based EMMAC Life Sciences Limited, a deal valued at approximately $50 million in cash and 17.5 million shares of Curaleaf. Curaleaf has simultaneously established Curaleaf International Holdings Limited in Guernsey to hold the EMMAC investment and further its European expansion. In order to speed up the process of expanding Curaleaf International, Curaleaf said it has secured an investment of $130 million from a single strategic institutional investor in exchange for a 31.5% equity stake in Curaleaf International, implying a $413 million Post Money valuation, with $80 million in cash available to spend. The company said that the subscription will fund the entire cash portion of the EMMAC acquisition consideration of $50 million with the remaining $80 million to be used to fund Curaleaf International’s current capital expenditures plan through 2022, as well as its pipeline of potential acquisitions.

Sean Hocking, Cannabis Law Report, 04/07/2021 14:37:00

Open article: https://cannabislaw.report/curaleaf-closes-emmac-deal-raises-130-million-for-expansion/

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