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Ascend Wellness Holdings Launches Fully Refreshed eCommerce Ecosystem
Prnewswire· 2025-07-17 12:00
Core Insights - Ascend Wellness Holdings, Inc. has launched a new eCommerce platform and loyalty program, the Ascenders Club, aimed at enhancing customer experience and engagement in the cannabis retail sector [1][3]. eCommerce Platform - The new eCommerce platform is designed to provide a faster and frictionless shopping experience, featuring an AI-powered recommendation engine for personalized product discovery [7]. - Ascend Pay, a new payment solution, allows customers to shop and pay online seamlessly without needing a physical wallet, facilitating quicker pickups [7]. Loyalty Program - The Ascenders Club is structured into four tiers: Blue, Gold, Platinum, and the exclusive Legends Club, offering elevated perks at each level, such as special offers and priority access to new product launches [2][3]. - The revamped loyalty program aims to deliver industry-leading value and exclusive benefits, incentivizing spending and boosting customer retention [7]. Customer Engagement - Existing customers are automatically enrolled in the loyalty program based on their purchase history, while new customers can join through various channels including the new Ascend Dispensary App [3]. - The integration of the loyalty program within the shopping app creates a one-stop shop for customers to browse, shop, earn, and redeem loyalty points [7]. Company Overview - Ascend Wellness Holdings operates in multiple states including Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania, with a focus on cultivating award-winning cannabis strains and producing a curated selection of products [5].
Red White & Bloom Brands Confirms Date for Reconvened Annual General Meeting
Globenewswire· 2025-07-16 23:00
Core Points - Red White & Bloom Brands Inc. has announced the reconvening of its 2025 Annual General Meeting of Shareholders on August 8, 2025, at 8:00 a.m. Pacific Time, following an adjournment on July 11, 2025 [1][2] - The adjournment was necessary to allow the company additional time to complete and present its audited financial statements for the fiscal year ended December 31, 2024 [2][3] - Shareholders of record as of the previously set date will remain eligible to attend and vote at the reconvened meeting, and they are encouraged to review the company's materials in advance [2] Company Overview - Red White & Bloom Brands Inc. operates as a multi-jurisdictional cannabis operator and house of premium brands in the United States, Canada, and select international markets [4] - The company is focusing its investments on major U.S. markets, including California, Florida, Missouri, Michigan, and Ohio, in addition to Canadian and international markets [4]
FLUENT Corp. Announces Shares for Debt Settlement
Globenewswire· 2025-07-16 20:15
Core Viewpoint - FLUENT Corp. will issue 2,750,000 common shares to directors in exchange for the cancellation of US$137,500 in director fees for the period of April 1, 2025, to June 30, 2025, at a price of US$0.05 per share [1][2]. Group 1: Share Issuance Details - The Debt Shares issuance is classified as a "related party transaction" under Multilateral Instrument 61-101, with the fair market value deemed reasonable by the directors [2]. - The company will rely on exemptions from valuation and minority shareholder approval requirements as neither the fair market value of the Debt Shares nor the debt exceeds 25% of the company's market capitalization [2]. - The company did not file a material change report more than 21 days before the expected closing due to finalization timing of the debts, aiming to reduce accrued liabilities promptly [3]. Group 2: Company Overview - FLUENT Corp. is a national cannabis consumer packaged goods company operating in Florida, New York, Pennsylvania, and Texas, with a commitment to operational excellence [4]. - The company employs 700 staff across 8 cultivation and manufacturing facilities and operates 42 retail locations, along with a wholesale division servicing third-party retailers [4]. - FLUENT produces a diverse portfolio of cannabis products under various brands, including MOODS, Knack, Wandr, Bag-O, and Hyer Kind [4]. Group 3: Trading Information - FLUENT's common shares are traded on the Canadian Securities Exchange under the symbol "FNT.U" and on the OTCQB Venture Market under "CNTMF" [5].
Glass House Brands Announces Preferred Equity Refinancing
Globenewswire· 2025-07-16 20:05
Core Viewpoint - Glass House Brands Inc. announced a recapitalization and non-brokered private placement of Series E Convertible Preferred Stock, aimed at replacing existing Series B and C Preferred Stock, with a total offering anticipated to be approximately $77.5 million [1][4]. Group 1: Offering Details - The Series E Preferred Stock will have a face value of $1,000 per share and will offer an annual dividend rate of 12%, paid quarterly [2]. - Investors can convert Series E Preferred Stock into Class B common stock at a conversion price of $9.00 per share, and ultimately exchange it for the Company's publicly-traded equity shares on a one-for-one basis [2]. - GH Group has a 5-year redemption right for the Series E Preferred Stock under specific conditions, including a minimum share price of $12.00 and an average daily trading volume exceeding one million shares [2]. Group 2: Comparison with Previous Offerings - The previous Series B and C Preferred Stock issued in 2022 offered a cumulative annual dividend rate of 22.5%, which included a 10% annual dividend and 12.5% paid-in-kind [3]. Group 3: Subscription and Capital Inflow - The Offering is nearly fully subscribed, with over 75% of Series B and C investors exchanging into Series E Preferred Stock, resulting in approximately $14.7 million of new capital from new investors [4]. - GH Group will pay around $4.1 million in cash to fund the redemptions of non-participating Series B and C Preferred Stock [4]. Group 4: Related Party Transactions - Directors, officers, and significant shareholders exchanged existing Series B and C Preferred Stock for $12.9 million of Series E Preferred Stock, representing 16.6% of the total [5]. - The Company did not announce the recapitalization transaction more than 21 days before the expected closing date due to the timing of related party participation [5]. Group 5: Regulatory Information - The securities issued in the recapitalization have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption [6].
High Tide Closes on $30 Million Convertible Debt from Cronos Group Inc.
Prnewswire· 2025-07-16 20:01
Core Viewpoint - High Tide Inc. has secured a $30 million convertible debt loan from a subsidiary of Cronos Group to fund future acquisitions and expand its cannabis retail operations in Canada, aiming to grow its store network beyond 300 locations [1][2][3]. Group 1: Loan Agreement Details - The Junior Secured Loan has a principal amount of $30 million, secured by a third priority lien on certain assets of High Tide, and bears an interest rate of 4% per annum [4]. - The loan has a 5-year term and can be repaid at any time without penalty, with the option for Cronos to convert the loan into common shares at a price of $4.20 per share [4]. - Cronos also received a warrant to purchase up to 3,836,317 common shares at an exercise price of $3.91 per share, representing a 25% premium to the 30-day volume weighted average price [5]. Group 2: Company Growth and Strategy - High Tide aims to utilize the working capital from the loan to enhance its business operations and expand its retail presence, reinforcing its position as a key player in the legal cannabis ecosystem [2][3]. - The company has been recognized as one of Canada's Top Growing Companies and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [11]. - High Tide operates the largest cannabis retail chain in Canada, Canna Cabana, with 202 locations and continues to innovate in retail technology and consumer products [7][8]. Group 3: Industry Context - The investment from Cronos reflects a belief in the importance of a competitive retail environment that benefits producers, retailers, and consumers alike [3]. - High Tide's integrated operations across various components of cannabis, including retail, consumption accessories, and CBD, position it well within the growing cannabis market [7][10].
Aurora Continues Deep Commitment to Veterans Through Strains for Heroes Initiative
Prnewswire· 2025-07-16 11:00
Insights gained from veterans participating in the program help guide the company in crafting custom cannabis strains, focusing on attributes such as aroma, appearance, and effects that matter most to veteran patients. Since its launch in 2022, there have been five purpose-grown strains developed within the Strains for Heroes lineup, and named by veterans, including, Valour, Courage, Honour, Esprit De Corps and United Victory. Aurora is proud to support a growing number of veteran-focused organizations, by ...
Verano Announces Promotion and Appointment of James Leventis as Chief Strategy and Compliance Officer
Globenewswire· 2025-07-15 11:00
Core Viewpoint - Verano Holdings Corp. has appointed James Leventis as Chief Strategy and Compliance Officer, effective July 1, 2025, to enhance its strategic leadership in regulatory and compliance matters across its national operations [1][4]. Company Overview - Verano Holdings Corp. is a leading multi-state cannabis company in the U.S., recognized for its historical revenue, geographic scope, and brand performance [5]. - The company operates under the Zen Leaf and MÜV dispensary brands and offers a range of high-quality cannabis products through its diverse portfolio, including brands like Verano, Essence, and MÜV [5]. - Verano's operations span 13 U.S. states with 15 production facilities and over 1.1 million square feet of cultivation capacity [5]. Leadership and Experience - James Leventis has been with Verano since 2019 and has significantly contributed to the company's growth from a single-state operator to one of the largest publicly traded cannabis companies [2]. - Leventis has a background in regulatory, compliance, M&A, and licensing across various sectors, including healthcare and cannabis, and has served in leadership roles in multiple trade associations and political action committees [2][3]. Strategic Importance - The promotion of Leventis is expected to strengthen Verano's executive leadership team and support the company's initiatives in navigating the dynamic cannabis sector [4]. - His advocacy for cannabis reform at both state and federal levels is seen as a valuable asset for the company as it seeks to influence legislative advancements [3][4].
Pure Sunfarms Publishes First-Of-Its-Kind Cannabis Potency Research in Scientific Reports
GlobeNewswire News Room· 2025-07-15 11:00
Core Insights - Pure Sunfarms Corp. has published significant research on THC potency variability in cannabis, emphasizing the need for improved labeling practices in the industry [1][3][4] Group 1: Research Findings - The study conducted by Village Farms Canadian Cannabis Research analyzed dried cannabis flower from commercial-scale production, revealing substantial THC level variations within individual plants and across different strains [2] - The research indicates that cannabis, being an agricultural product, exhibits natural variability influenced by environmental factors, challenging the notion of a fixed THC percentage as a quality measure [3] Group 2: Industry Implications - Current Canadian regulations require a single THC percentage on cannabis packaging, which the study suggests misrepresents the actual cannabinoid content experienced by consumers [3] - The findings provide a basis for evidence-based policy discussions and potential regulatory changes in the cannabis industry [3] Group 3: Company Overview - Pure Sunfarms is a leading cannabis producer in Canada, operating one of the largest cannabis facilities globally, with a focus on high-quality B.C. grown cannabis [5][8] - The company is recognized for its popular cultivars, including Pink Kush, and maintains EU GMP certification for international medicinal market exports [6][8] Group 4: Future Growth and Expansion - Village Farms, the parent company of Pure Sunfarms, is expanding its cannabis operations internationally, targeting markets with significant growth potential and exporting medical cannabis to countries like Germany and Australia [9] - The company also plans to enter the U.S. THC market, leveraging its greenhouse assets in Texas for future expansion [10]
X @Forbes
Forbes· 2025-07-15 06:40
Industry Focus - Cannabis industry has a "Willy Wonka Flavor Factory" [1] Company Overview - The report focuses on a specific company within the cannabis industry [1]
X @Bloomberg
Bloomberg· 2025-07-14 13:38
RT Businessweek (@BW)Cannabis, legalized in Thailand in 2022, was a lifeline for rural farmers. Now, as the government backtracks, their future is unclear https://t.co/DKyg9zSUfw ...