Each week, DCN will curate a rundown of startup, tech, and innovation news in the cannabis industry for its new series, DCN Micro News.

February 11th, 2019

Canadian Cannabis Company TerrAscend to Buy California Retailer Apothecarium for $118.4 Million

TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend”) today announced the signing of definitive securities purchase agreements facilitating a significant investment in three entities in California operating the award-winning retail dispensary brand known as “The Apothecarium” (the “Apothecarium”). The purchase agreements also include the acquisitions of a vertically integrated operation in Nevada with cultivation, edible manufacturing and an Apothecarium retail location, as well as Valhalla Confections, a provider of leading premium edible products.

Original Press Release, Click Here.

February 12th, 2019

MassRoots to Acquire COWA Science Corporation, Expands Offerings of Cannabis Related Products and Services

MassRoots, Inc. (“MassRoots” or the “Company”) (OTCQB:MSRT), one of the leading technology platforms for the regulated cannabis industry, announced today that MassRoots has entered into a definitive agreement (the “Agreement”) to acquire COWA Science Corporation (“COWA Science”), a supply-chain as a service company, for common-stock consideration valued at approximately $5.78 million, and dependent on COWA Science achieving annual revenue milestones of $2.5 million and $7.5 million. The closing of the Agreement is subject to the satisfaction of customary closing conditions, including the completion of audited financial statements of COWA Science.

Original Press Release, Click Here.

Green Thumb Industries (GTI) Closes on Acquisition of Advanced Grow Labs LLC; Enters Connecticut Market

Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF) has closed on its acquisition of Connecticut-based Advanced Grow Labs LLC (AGL), previously announced on January 7, 2019. AGL is one of only four companies in Connecticut licensed to grow and process cannabis. The Connecticut-based cannabis company operates a 41,000 square foot manufacturing facility in West Haven with the potential to expand. In addition, AGL has an ownership stake in a recently-awarded dispensary that will be located in Westport which makes it the only vertically licensed company in the state. AGL produces and distributes a wide range of cannabis products to every operating store in the state.

Original Press Release, Click Here.

Ventura Cannabis to Acquire Cannabis Dispensaries in Cathedral City, California, and Portland, Oregon With Combined Annual Revenues of $2,500,000

Ventura Cannabis and Wellness Corp. (“VCAN” or the “Company”) (CSE: VCAN) announced today that it has entered into a binding agreement to acquire two cannabis dispensaries. The first, located in Cathedral City, California just outside Los Angeles, is a strategic acquisition that pairs well with the Company’s detox centers located nearby. The second is a cannabis dispensary in Portland, Oregon which will become part of its existing Oregon business. Additionally, Ventura Cannabis announced it secured Craig Lipsay, a senior investment banker and former Managing Director at Morgan Stanley and Merrill Lynch in New York City to advise its Board and management.

Original Press Release, Click Here.

Veritas Pharma Enters into agreement to acquire Commercial Hemp and Cannabis Processing Facility

Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that it has entered into an agreement with TG Initiatives Ltd., to purchase a commercial processing facility for hemp and cannabis products(“asset”), that asset is capable of making a variety of hemp and cannabis products including edibles for human and animal use. Additionally, this asset provides the capability to make a variety of natural topical creams for pain relief and other ailments including any product that come out of the company’s acute pain reduction human trials recently announced in Puerto Rico.

Original Press Release, Click Here.

Volero Brands Announces $5 Million Private Placement Offering of Common Shares

Volero Brands Inc. (“Volero” or the “Company”) is pleased to announce that it has entered into an agreement (the “Agreement”) with Mackie Research Capital Corporation (the “Agent”) who has agreed to sell, on a “best efforts” private placement basis, up to 10,000,000 Class A common shares in the capital of the Company (“Common Shares”) at a price of $0.50 per Common Share for gross proceeds of up to $5,000,000 (the “Offering”).

The Company intends to use the proceeds from the Offering for construction of the Company’s facility in Alberta, working capital and general corporate purposes. The closing of the Offering is expected to occur on or about the week of February 28, 2019.

Original Press Release, Click Here.

February 13th, 2019

Sunniva Announces Completion of $15 Million Convertible Debenture Financing

Sunniva Inc. (“Sunniva”, the “Company”, “we”, “our” or “us”) (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, is pleased to announce the completion of the previously announced non-brokered offering (the “Financing”) of convertible debentures (“Convertible Debentures”). The originally announced $10 million Financing was over-subscribed with gross proceeds received of CAD $15,042,055. This Financing provides additional working capital to enable Sunniva to meet the higher than anticipated near term sales demand for Sunniva branded cannabis products in California and for general corporate purposes. The Financing included two insiders of the Company subscribing, directly or indirectly, for a total of CAD $2.3 million which demonstrates management and insiders’ commitment to the Company.

Original Press Release, Click Here.

February 14th, 2019

MPX International Announces US$15 Million Private Placement of Units

MPX International Corporation (“MPX International” or the “Company”) (CSE:MPXI) intends to raise up to C$20 million (approximately US$15 million) in a non-brokered private placement offering of up to 41,666,666 units (the “Units”) of the Company at a price of C$0.48 per Unit.

The proceeds of the Offering will be used to fund capital expenditures in Owen Sound, Ontario as well as potential future acquisitions and for working capital and general corporate purposes.

Original Press Release, Click Here.

Harvest Health & Recreation Agrees to Acquire California’s Falcon International Corp.

Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company with one of the largest footprints in the U.S., announced a definitive agreement to acquire Falcon International Corp. (“Falcon”), a California cannabis company and leader in cultivation, manufacturing, wholesale distribution and brand development, for a non-material undisclosed amount of stock.

Original Press Release, Click Here.

Flow Kana Raises $125 Million to Build Largest Sustainable Cannabis Supply Chain

Flow Kana, the leading sustainable supply chain company and distributor of sun-grown cannabis products and services, today announced the completion of a $125 million round of financing – the nation’s largest private funding round for a private cannabis company to date. Gotham Green Partners, which led Flow Kana’s Series A raise in May 2018, invested in the round along with additional private investors to accelerate the company’s rapid growth. Flow Kana has raised a total of $175 million to date to build and scale the California cannabis supply chain centered around small, decentralized, sustainably operated cannabis farms.

Original Press Release, Click Here.

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