Cannabis CBD Marijuana

Welcome to Cultivated, our weekly newsletter where we’re bringing you an interior ogle on the gives, trends, and personalities utilizing the multibillion-greenback global hashish mutter.

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Hi there all,

That you might also very neatly be catching us scripting this text from house this week as all of Business Insider has started WFH. Here is your day by day reminder to shipshape your fingers and moisturize.

This week Jeremy got the scoop on MedMen’s silent cuts to 128 positions in February after digging thru the company’s securities filings. That brings our ongoing chronicle of layoffs in the hashish change to over 2,800 other folks. Jeremy additionally got the scoop on a key executive departing vape and accessories company Greenlane Holdings, which laid off 31 workers in February.

Within the intervening time, Yeji talked to 5 edibles companies eyeing the 2.0 change in Canada and profiled California-primarily based mostly mostly Race Kana. Race Kana acknowledged it be planning to increase one more spherical of funding soon, given the complicated times in the change.

While hashish info is with out problems no longer of well-known significance in these attempting times, we will peaceable be working paunchy-time to favor you all as a lot as this level. On that front, we will absorb a perceive at how the change is making ready for — and reeling from — the pandemic next week.

And we’re peaceable beginning for guidelines — you have to well obtain the absolute most sensible ways to attain us on the bottom of this text.

Protect safe out there, all americans.

-Jeremy and Yeji

Here’s what we wrote about this week:

Canada’s hashish market can even balloon to $2.8 billion this 365 days. No topic strict packaging principles, top edibles companies snarl they’re racing to get a foot in the door.

The packaging on Canadian hashish edibles is important from fast-witted. It’s plastered with yellow health-warning labels and prohibited from having photos or fluorescent colors.

Nevertheless that hasn’t stopped one of the most important most standard US edibles producers from announcing they peaceable obtain the market fast-witted. Business Insider talked to CEOs at five edibles companies in the course of atmosphere their ideas for the Canadian market.

Embattled hashish retailer MedMen quietly terminated 128 other folks in February, filings impress

MedMen terminated 128 workers and made 15 new hires in February, for a procure loss of 113 jobs, in conserving with a securities filing reviewed by Business Insider.

The layoffs near amid a months-long restructuring belief attach into blueprint by the company’s board and frail CEO Adam Bierman, who stepped down from his role on February 1. MedMen has engaged a turnaround firm, FTI Consulting, to reduction with the procedure.

A key executive departed hashish-vaporizer company Greenlane Holdings two days after the company laid off 31 workers

A key executive at hashish-vaporizer and accessories company Greenlane Holdings resigned from the company on February 20, two days after the company laid off 31 workers in its Florida and California offices, per a securities filing reviewed by Business Insider.

The executive, frail chief marketing and marketing officer Sasha Kadey, officially left the company on February 28, the filing says. Kadey informed Business Insider over the cell phone that he’ll address on as a strategic marketing and marketing consultant to Greenlane for six months, centered on brand-building.

A buzzy hashish startup that companions with native farmers in the Emerald Triangle is soliciting for to increase unique cash from merchants

While most hashish companies are attempting to compete with the hashish growers in the Emerald triangle, Race Kana has raised $175 million to team up with them as a replacement.

The corporate, which is one among the freshest startups in hashish, in conserving with merchants we surveyed, is gearing as a lot as increase extra funds all the blueprint thru the subsequent two quarters of this 365 days, in conserving with CEO Mikey Steinmetz.

Cannabis CBD Marijuana Capital raises, M&A exercise, partnerships, and launches

  • Tilray announced on Friday the pricing of a $90.4 million registered offering, with Canaccord Genuity acting as the sole real bookrunner. Tilray’s stock has dropped 32% on Friday.
  • Canopy Train is lending TerrAscend $80.5 million (CAD) to fund TerrAscend’s Canadian operations.
  • SōRSE Technology obtained share of most cancers study crew Pascal Bioscience to accomplish scientific trials for Pascal’s cannabinoid study program.
  • Vireo Smartly being raised $10.5 million in a interior most placement spherical,

Cannabis CBD Marijuana Govt strikes

Cannabis CBD Marijuana Chart of the week

Files for Canada’s first 365 days of grownup-employ hashish reveals three provinces main the pack. Ontario made $249.7 million from hashish gross sales in the nation’s first 365 days of legalization, adopted by Quebec and Alberta who made $223.9 million and $224.1 million respectively:

cannabis CBD Marijuana first year adult use cannabis sales in canada chart“>



Shayanne Gal/Business Insider


Cannabis CBD Marijuana What we’re reading

Federal prosecutors investigate California marijuana companies in huge-ranging probe (MarketWatch)

Does the Resort Industry Protect close pleasure in Hashish Legalization? Analysis Suggests So. (Hashish Wire)

Canada defends marijuana legalization in accordance with worldwide skepticism (The Boston Globe)

Did we omit something else? Contain a tip? Staunch must chat? Send us a display veil at hashish@businessinsider.com or obtain Business Insider’s hashish team on twitter: @jfberke & @jesse_yeji. You would possibly per chance additionally attain Jeremy on encrypted messaging app Signal on at (646) 376 6002.