NORWOOD, Mass., July 01, 2025 (GLOBE NEWSWIRE) -- Following today’s announcement that Delaware will commence adult-use sales of cannabis, MariMed CEO Jon Levine released the following statement: “We are excited to participate in the expansion of Delaware’s cannabis program to include adult-use sales. Our Delaware business unit, First State Compassion (“FSC”), was the first licensed operator in the state 10 years ago, and since then we have proudly served the state’s medical cannabis patients. The investment ...

Core Insights - TerrAscend Corp. has decided to exit the Michigan market as part of a strategic review, selling all Michigan assets including cultivation and processing facilities, retail dispensaries, and real estate [1][2][3] - The net proceeds from these divestitures will be utilized to pay down existing company debt, enhancing the financial profile of TerrAscend [1][2] - The exit from Michigan is expected to be substantially completed in the second half of 2025, with the Michigan operations reported as discontinued starting from Q2 2025 [1][2] Financial Impact - Following the Michigan exit, TerrAscend will operate 19 dispensaries and 4 cultivation and processing facilities across five states, which is anticipated to improve key financial metrics such as gross margin, adjusted EBITDA, and cash flow conversion [2][3] - The company expects a reduction of approximately 21% of its overall workforce, which consists of about 1,200 employees, primarily by the end of Q3 2025 [3] Strategic Focus - The strategic decision to exit Michigan is aimed at reallocating resources to core markets in the northeastern U.S., specifically New Jersey, Maryland, Pennsylvania, and Ohio, to unlock value for the company and its shareholders [3] - The company believes that concentrating efforts in these core markets will lead to stronger financial performance, improved margins, and operational efficiencies [3] Company Overview - TerrAscend is a leading cannabis company listed on the TSX, with operations across North America, including vertically integrated operations in several states and retail operations in Canada [4] - The company operates various dispensary brands and has a portfolio of synergistic businesses and brands, providing a wide selection of cannabis products for both medical and adult-use markets [4]

Grow Sciences flower, pre-rolls, solventless extracts, vaporizers and edibles will initially be sold exclusively at Zen Leaf dispensaries in the Illinois market CHICAGO, June 19, 2025 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced an exclusive partnership with Grow Sciences, a cultivator of elite genetics in craft cannabis formats, to bring a suite of the Arizona-based company’s premier flower and ...

Company Overview - Vireo Growth Inc. has successfully completed the acquisition of Deep Roots Holdings, a cannabis operator in Nevada [1][3] - Deep Roots operates a 54,000 square foot cultivation and manufacturing facility and has ten active retail dispensaries [2] Financial Details - The total consideration for the acquisition was $132.7 million, paid in 255.2 million Subordinate Voting Shares at a reference price of $0.52 per share [3] - The purchase price represents a multiple of 4.175x the 2024 "Closing EBITDA" of $30 million [3] - The transaction includes clawback provisions if the 2026 EBITDA falls below the Closing EBITDA as of December 31, 2026 [3] Strategic Positioning - Deep Roots benefits from strategically located stores in Southern Nevada, particularly near the Utah border, enhancing its market performance [2] - The company also holds equity and debt investments in a retail chain in California and a vertical operator in Ohio and Massachusetts [2] Company Background - Vireo was founded in 2014 as a pioneer in medical cannabis and focuses on empowering local market leaders and strategic resource allocation [4]