FOLLOWING its recent purchase of UK cannabis firm EMMAC Life Sciences, Curaleaf has now secured an additional $130m from a single institutional investor to fund its European ambitions.
This will lead to the the creation of Guernsey-based Curaleaf International Holdings Limited, with Antonio Costanzo, co-founder and CEO of EMMAC, as its CEO.
He said: “This is an important day for the European cannabis market as EMMAC transitions to Curaleaf International … we will work closely to leverage the consumer packaged goods experience and innovation from the US to capitalise on the emerging adult-use market as legislation allows.”
Organigram CEO Greg Engel said the purchase of the edibles manufacturer “will continue to provide our consumers access to innovative cannabis products while leveraging Organigram’s national sales and distribution network”.
VOX Markets listed Block Commodities together with Century Cobalt has entered into an agreement to purchase a 70% stake in a medicinal cannabis licence in Africa.
The commodity-focused trading company, which is focused on the continent, said the two parties will acquire the licence granted to Magnus Cannabis Group Limited from the Government of Zimbabwe in exchange for a 35% holding each.
Scottish CBD firm Voyager says it has raised £874,000 from around 350 investors, representing an over-subscription of approximately five times its initial target of £175,000.
This latest raise follows another over-subscribed seed funding round, which saw the company make £500,000 in November.
Voyager has also created four new jobs at its headquarters in Perth. It has 16 products already launched, seven more scheduled for release during April with further product roll-outs planned.
New Hemp-Infused Energy Drink
A subsidiary of UK drinks giant PepsiCo has entered the hemp space with the launch of a new drinks range.
Las Vegas-based Rockstar Energy, a drink brand that was bought by PepsiCo for $3.85bn last year, has launched a line of hemp-infused drinks in Germany.
Just-Drinks reports that Rockstar Energy + Hemp was released earlier this month in three flavours. The drinks contain hemp seed extract, caffeine and the amino acid taurine.
MediPharm Labs has exported its first shipment of cannabis oil products manufactured in Australia to Germany.
Canadian firm IM Cannabis (IMC) has boosted its operation in Germany with the expansion of its product portfolio following the signing of a new supply agreement.
IMC’s German-based subsidiary Adjupharm, an EU GMP-certified medical cannabis distributor reaching over 6,000 pharmacies, has signed a supply agreement with Northern Green Canada to provide medical cannabis, it has been announced.
Canopy To Buy Rival For Over $250m
Canada’s Canopy Growth is to buy rival Supreme Cannabis for US $256.85m in a cash-and-stock deal. Supreme owns cannabis brands 7ACRES and Blissco.
US software firm Fyllo has closed an oversubscribed Series B round totalling $30m co-led by JW Asset Management and Sol Global. Fyllo has raised nearly $60m since it was launched in 2019.
The company’s Fyllo Compliance Cloud suite of SaaS software is used by multi-state operators including Columbia Care and Grassroots Cannabis. Additionally, Fyllo has worked with some of the world’s largest mainstream brands to leverage its cannabis data to reach cannabis consumers.
Following the move to permit recreational cannabis in New York, its Industrial Development Agency is supporting Green Thumb Industries to build a cannabis cultivation and manufacturing facility at the site of a former federal prison; now known as the Warwick Valley Office and Technology Corporate Park.
Canadian firm Aphria’s share price fell by over 10% on Monday after a disappointing set of results, which Chairman and CEO Irwin Simon said were due to further pandemic restrictions in its two main markets of Germany and Canada and increased competition leading to a fall in recreational cannabis prices in its domestic Canadian market. Shareholders are set to approve its merger with Tilray later this week.