Walmart, Target among major retailers eyeing CBD product lines: report
More U.S. retailers are exploring adding CBD products to their shelves amid the growing popularity for cannabis-infused drinks, gummy bears and topical creams. The New York Post reported that top executives at major chains such as Walmart and Target as well as big supermarkets such as Kroger and Safeway are quietly meeting with cannabis producers to be able to sell CBD products in states where such products are legal. The executives are said to be requesting samples of CBD products, along with lab results and pricing information, the newspaper is reporting. Some U.S. chains, including Walgreens, CVS and GNC, have already begun selling CBD-infused topical creams that treat wrinkles and pain in states where they’re allowed, including New York.
Acreage links up with REIT firm to purchase and lease back cannabis real estate assets
Acreage Holdings is getting into the REIT business. The company said it signed a letter of intent with GreenAcreage Real Estate Corp., a newly formed REIT, under which the company would purchase and lease back to Acreage cannabis related real estate assets. GARE is externally managed by GreenAcreage Management, an entity in which Acreage holds a 20 per cent interest and in which its CEO Kevin Murphy has invested in. The REIT would purchase properties identified by both companies and lease back to Acreage under negotiated terms, the company said in a release. Acreage has close ties with Smiths Falls, Ont.-based Canopy Growth after the Canadian cannabis company said it would pay US$3.4 billion for the right to later acquire the firm when marijuana is federally legalized in the U.S. Canopy’s CEO Bruce Linton has also mulled spinning off the company’s real estate assets into a REIT for some time.
Aurora secures first cannabis extraction shipment from Radient Technologies
It’s no secret that cannabis companies are beginning to stockpile extracted marijuana in advance of this year’s launch of edible and concentrate products in the Canadian market. With that said, Aurora Cannabis said it received a shipment of finished cannabis derivatives from Radient Technologies, the company said in a release on Monday. The shipment comes following an agreement between the two companies in 2017 of a research joint venture that validated Radient’s extraction work on a commercial scale. Radient’s technology is said to be able to ship fully processed commercial scale batches of dried cannabis biomass and refine them within a 24-hour period. Radient is also expected to handle approximately 300,000 kilograms of cannabis biomass at its Edmonton location, the company said.
Pot Pickups – Neptune Wellness hires GMP’s Landry in new corporate role, Organigram adds Tilray’s Bishop
The cannabis industry is down one sell-side analyst after former GMP managing director of equity research Martin Landry joined Neptune Wellness Solutions as the company’s new head of corporate development and strategy. Landry is said to oversee the development and implementation of Neptune’s corporate strategy as well as be involved in certain key financial, and communication processes. Meanwhile, Organigram hired former Tilray executive Cameron Bishop as its new VP of public affairs and stakeholder relations. The Moncton, N.B.-based firm said Bishop will lead its cannabis education, policy development and future development of improved cannabis forms. Lastly, cannabis extraction processor Valens GroWorks tapped Deepak Anand, a former industry consultant, to join its board of directors.DAILY BUZZ
— The amount of revenue reported by Aleafia Health the Canadian cannabis producer generated in its fiscal first quarter, up from $100,000 a year earlier.
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