Hashish Weekly Spherical-Up: Plus Merchandise Will get Acquired

In the cannabis space, a US adult edible manufacturer was acquired by a listed cannabis maker in a blockbuster deal this week.

In addition, shortly before the end of the year, Canadian cannabis producer Organigram Holdings (NASDAQ: OGI, TSX: OGI) announced a series of strategic investments and acquisitions that will further cement the trend of mergers and acquisitions (M&A) for the cannabis market.

Read on for more cannabis highlights from the past five days.

MSO buys popular US cannabis brand

Glass House Brands (NEO: GLAS.AU, OTCQX: GLASF) announced that it will acquire US company Plus Products for approximately $ 25.6 million, provided through unsecured convertible bonds and equity.

Kyle Kazan, CEO of Glass House, highlighted Plus Products’ reputation in the edibles sector, especially gummy bears.

“Our vertically integrated platform will allow us to expand the distribution of PLUS to the 700+ stores in our network, as well as our own retail stores, as we have a top position in both the flower and food categories in the largest market in the country sales. ”“, said Kazan.

The board noted that the acquisition is made in anticipation of expanding the potential for PLUS branded products that can compete with those of another major rubber goods manufacturer.

“With its presence in California and operations in other states, we believe PLUS has a broad avenue to play nationally, at least on par with Wana, which won over $ 297.5 million from Canopy Growth in October. Dollar was taken over, “he added in the press release.

Organigram ends the year with investments

New Brunswick-based cannabis operator Organigram has acquired Laurentian Organic for $ 36 million in a cash and stock transaction.

Organigram said this deal is a way to expand its presence in the premium product category. The company will win additional hash and craft cannabis product offerings.

“We look forward to building on the momentum Laurentian has built to bring these products to even more Canadian provinces and territories,” said Beena Goldenberg, CEO of Organigram, of the Quebec-based company.

In addition, Organigram purchased $ 2.5 million convertible bonds from private biotechnology company Hyasynth Biologicals. The deal follows two separate initial investments in 2018 and 2020.

“(Hyasynth) have made tremendous scientific advances in cannabinoid biosynthesis, with the technology likely to be protected by intellectual property,” said Goldenberg. “We remain committed to our investment in this strategic partner and look forward to helping Hyasynth advance its commercialization efforts.”

News from cannabis companies

  • The Valens Company (TSX: VLNS, NASDAQ: VLNS) entered into two separate agreements with a Mexican drug supplier, PMI Mexico, that include a CBD delivery strategy for studies and a manufacturing component. “The relationship we have established with PMI Mexico marks an important milestone in Valens’ international expansion and the beginning of our strategy for Central and Latin America,” said Tyler Robson, CEO, Chairman and Co-Founder of Valens Company.
  • Neptune Wellness Solutions (NASDAQ: NEPT, TSX: NEPT) confirmed the launch of its Mood Ring pre-roll line of adult cannabis products in Canada. The launch is set up for Alberta and Ontario. “The pre-roll market is booming in Canada and we are excited to add this popular format to our popular Mood Ring product mix,” said Michael Cammarata, CEO and President of Neptune.
  • MediPharm Labs (TSXV: LABS, OTCQX: MEDIF) issued a notice to investors with an update on their business plans and strategy for achieving a profit sharing.
  • Clever Leaves Holdings (NASDAQ: CLVR) has secured a license for a greenhouse facility in Portugal from the regulatory authorities. “With this latest licensing for our Portugal expansion, we are optimistic about what we will achieve in 2022 and beyond,” said Kyle Detwiler, CEO of Clever Leaves.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, have no direct interest in any company mentioned in this article.