Core Viewpoint - Organigram is set to acquire Sanity Group, a leading German cannabis company, to enhance its position in the global cannabis market, particularly in Europe, which is experiencing rapid growth in both medical and recreational cannabis sectors [1][2]. Acquisition Details - The acquisition will involve an upfront payment of €113.4 million, consisting of €80 million in cash and €33.4 million in Organigram shares, with an additional earnout of up to €113.8 million based on Sanity's financial performance [1][3]. - The share price for the upfront consideration is set at C$3.00, representing a 71% premium over the closing price of C$1.75 on February 17, 2026 [1][3]. - The acquisition is expected to close in the second quarter of 2026, subject to regulatory approvals and shareholder consent [3][4]. Financial Performance of Sanity Group - Sanity Group's annual net revenue grew from €9 million in 2023 to €60 million in 2025, with €19 million generated in Q4 2025 alone [1][2]. - The company has improved its gross margin from 15% in 2023 to 47% in 2025, indicating strong operational efficiency [1][2]. - The German medical cannabis market, where Sanity operates, was valued at over €2 billion in 2025 and is projected to exceed €4.5 billion by 2028, with a 50% year-over-year growth rate [1][2]. Strategic Rationale - The acquisition will allow Organigram to leverage Sanity's established presence in Europe, enhancing its ability to sell higher-margin products and capture more value in the cannabis supply chain [1][2]. - Sanity's expertise in navigating European regulatory frameworks will be critical as Organigram expands its footprint in new markets, including the UK and Poland [1][2]. - The combined entity will strengthen Organigram's competitive edge in the world's largest federally legal cannabis markets, positioning it as a leader in both Canada and Germany [2][3]. Funding and Financial Structure - The cash component of the acquisition will be financed through a combination of cash on hand, a new credit facility, and a C$65.2 million equity investment from British American Tobacco (BAT) [1][3]. - Organigram has secured a senior secured credit facility of up to $60 million to support the acquisition and related expenses [3][4]. - The earnout consideration will be contingent on Sanity achieving specific financial performance metrics, ensuring that the acquisition is financially accretive [2][3].

Core Viewpoint - Verano Holdings Corp. is expanding its presence in West Virginia with the opening of Zen Leaf Charleston, its sixth dispensary in the state, enhancing its nationwide footprint to 159 locations [1][6]. Company Expansion - Zen Leaf Charleston is located at 117 Summers Street and will operate Monday to Saturday from 10 a.m. to 7 p.m. and Sunday from 10 a.m. to 5 p.m. local time [1]. - This new dispensary complements Verano's existing five locations in West Virginia: Buckhannon, Clarksburg, Morgantown, Westover, and Wheeling [2][6]. Market Context - The West Virginia Department of Health reports over 35,000 approved medical cannabis patients in the state, indicating a growing market for medical cannabis [2]. - Zen Leaf Charleston is situated in Charleston, the most populous municipality in West Virginia, which has a population of 48,000 residents [6]. Operational Capacity - Verano's operations in West Virginia include a 40,000 square foot cultivation and processing facility in Beaver, producing a variety of branded products for medical patients [3]. - The company operates 15 production facilities across 13 U.S. states, with over 1.1 million square feet of cultivation capacity [5][6]. Product Offering - Verano offers a diverse range of high-quality cannabis products under various brands, including Essence, MÜV, Savvy, BITS, Encore, and Avexia [5]. - The company provides a superior shopping experience in both medical and adult-use markets through its Zen Leaf and MÜV dispensary banners [5].

Core Viewpoint - Trulieve Cannabis Corp. has received conditional approval for a Dispensing Organization license under the Texas Compassionate Use Program, allowing the company to cultivate, manufacture, and distribute medical cannabis products in Texas [1]. Company Overview - Trulieve is a leading vertically integrated cannabis company and multi-state operator in the U.S., with significant market positions in Arizona, Florida, and Pennsylvania [1]. - The company aims for accelerated growth and expansion through a hub strategy, enhancing retail and distribution capabilities in both new and existing markets [1]. - Trulieve focuses on providing innovative, high-quality products across its brand portfolio to improve customer experiences and increase access to cannabis [1]. Regulatory Approval - The Texas Department of Public Safety granted Trulieve TX, Inc. conditional approval for the license, which is subject to final approval [1]. - The CEO of Trulieve expressed excitement about the selection for the Texas license and emphasized the company's commitment to providing compassionate care and expanded access to medical cannabis products [1].