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

March 11th, 2019

Harvest Health & Recreation to Acquire Verano, Creating One of the Largest U.S. Multi-State Cannabis Operators

Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest footprints in the U.S., is pleased to announce that it has entered into a binding agreement to acquire Verano Holdings, LLC (“Verano”), an arm’s length third party, one of the largest privately held multi-state, vertically integrated licensed operators of cannabis facilities, in an all-stock transaction for an estimated purchase price of approximately USD $850,000,000 based on a share price of CND $8.79.

The combined company will be one of the largest multi-state operators (“MSO”) in the U.S., as measured by licenses held and facilities permitted. Upon completion of the transaction and regulatory approval, Harvest will hold licenses that will allow it to operate up to 200 facilities in 16 states and territories across the country, including 123 retail dispensaries

Original Press Release, Click Here.

March 12th, 2019

48North Enters Into $25 Million Bought Deal Equity Financing

48North Cannabis Corp. (TSXV:NRTH) (“48North” or the “Company”), is pleased to announce that it has entered into a letter of engagement with Eight Capital, under which Eight Capital has agreed to purchase, as sole bookrunner and lead underwriter, along with a syndicate of underwriters (the “Underwriters”), 18,382,400 units of the Company (the “Units”), on a “bought deal” basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $1.36 (the “Issue Price”) for gross proceeds of $25,000,064 (the “Offering”).

Original Press Release, Click Here.

Weedmaps Appoints New Chief Executive Officer

Weedmaps today announced that the Company’s Board of Directors has appointed Chris Beals as Chief Executive Officer, effective March 6, 2019. In addition to assuming day-to-day leadership of Weedmaps, Beals will serve as a member of the Company’s Board. Since joining the Company in August 2015, Beals has served as Weedmaps’ President and General Counsel and has led the growth of the Company’s government relations, finance and compliance functions. Weedmaps announced that co-founder and previous CEO, Doug Francis, has been appointed Chairman of the Company’s Board of Directors.

Original Press Release, Click Here.

HEXO Corp to acquire Newstrike Brands Ltd.

HEXO Corp (“HEXO”) (TSX: HEXO; NYSE-A: HEXO) and Newstrike Brands Ltd. (“Newstrike”) (TSX-V: HIP) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike’s issued and outstanding common shares in an all-share transaction valued at approximately $263 million (the “Transaction”).

Under the terms of the Arrangement Agreement, Newstrike shareholders will receive 0.06332 of a HEXO common share in exchange for each Newstrike common share held.

Original Press Release, Click Here.

March 14th, 2019

Growpacker Inc. Launches Cannabis Brand Incubator and Accelerator Program in California, Welcomes CERIA Brewing Company as First Launch Partner

Growpacker Inc. (“Growpacker” or the “Company”), a contract manufacturer of THC- and CBD-infused edibles and beverages in the United States has announced the launch of its Brand Incubator and Accelerator Program, designed to fast-track both THC and CBD brands sold in California.

The new Brand Incubator and Accelerator Program gives Growpacker manufacturing partners the opportunity to leverage the Company’s industry expertise, gain early access to new formulations, receive discounted services and fast-track their market penetration in California. Growpacker retains an equity interest in the participating brands and companies, strategically aligning the interests of both parties and positioning Growpacker as a brand portfolio company, in addition to leading co-packer.

Original Press Release, Click Here.

Green Peak Innovations Closes $30+ Million In Oversubscribed Mezzanine Round

Green Peak Innovations, LLC announced today that it has closed $30+ million in an oversubscribed mezzanine debt round consistent with its planned expansion in Michigan and beyond.

Green Peak Innovations is fully licensed by the LARA Bureau of Medical Marijuana Regulation as the largest holder of “Class C” cultivation licenses, processing, and has plans in place to open 19 provisioning centers. The company anticipates opening the first of its 19 Skymint-branded provisioning centers within the next few months.

Original Press Release, Click Here.

Aleafia Health and Emblem Announce Closing of Arrangement

Aleafia Health Inc. (TSXV: ALEF, OTC: ALEAF, FRA: ARAH) (“Aleafia Health”) and Emblem Corp. (TSXV: EMC, OTCQX: EMMBF) (“Emblem”) are pleased to announce that they have completed the previously announced plan of arrangement (the “Arrangement”) under the provisions of the Canada Business Corporations Act, pursuant to which, among other things, Aleafia Health has acquired all of the common shares of Emblem (the “Emblem Shares”) following Emblem’s amalgamation with Aleafia Health’s wholly-owned subsidiary, 11208578 Canada Inc., to form a new wholly-owned subsidiary of the Corporation continuing as “Emblem Corp.” (“Amalco”).

Original Press Release, Click Here.


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