Cannabis Weekly Round-Up: Mike Tyson’s Cannabis is Coming to Canada
News hit this week that notorious boxing legend Mike Tyson will launch his own cannabis brand in Canada thanks to a partnership with HEXO (NASDAQ:HEXO,TSX:HEXO).
Meanwhile, following a blockbuster acquisition plan, a cannabis producer in Canada announced another deal. Keep reading to find out more cannabis highlights from the past five days.
Mike Tyson is coming to Canada by way of HEXO
Infamous boxing figure Tyson launched his cannabis company TYSON 2.0 back in October 2021.
The firm has expanded the availability of its celebrity-endorsed products through partnerships with established producers, and has found its way into cannabis dispensaries across the US.
Now, thanks to its agreement with HEXO, the brand will enter into the Canadian marketplace.
“With their broad product range from flower to straight edge pre-rolls to edibles, the TYSON 2.0 brand fits perfectly into HEXO’s market leading portfolio,” Charlie Bowman, CEO of HEXO, said.
For his part, Tyson said he’s excited to provide Canadians with access to his lineup of products, which includes both premium and entry-point cannabis flower, concentrates and consumables.
SNDL’s acquisition spree continues
A week after cannabis producer SNDL (NASDAQ:SNDL) announced plans to acquire The Valens Company (NASDAQ:VLNS,TSX:VLNS), it’s back on the purchasing train. The company told investors last Wednesday (August 31) that it wants to acquire the assets of boutique cannabis retail operator Superette.
“The Superette team has worked tirelessly to create an immersive and differentiated experience within the cannabis community and the bid seeks to further solidify SNDL’s position as a prominent multi-banner cannabis retail operator,” Zach George, CEO of SNDL, said.
SNDL is pursuing this deal through Superette’s current status under Companies’ Creditors Arrangement Act (CCAA) proceedings, which the retailer has been part of since Tuesday (August 30).
According to SNDL, Superette will go back to court on September 9 to seek approval for the sale. In this hearing, a “stalking horse bid” will set the minimum price for the Superette assets.
“Through the CCAA Proceedings, we are committed to supporting Superette through the restructuring and ensuring the continuity and preservation of the Superette experience consumers have come to know and love,” George said.
Cannabis company news
- Innovative Industrial Properties (NYSE:IIPR)completed the acquisition of an industrial facility in Webster, Massachusetts, for US$21.5 million. Additionally, the facility has been agreed upon for use by a subsidiary of Curaleaf Holdings (CSE:CURA,OTCQX:CURLF).
- Cresco Labs (CSE:CL,OTCQX:CRLBF)will open three new dispensaries in Florida under its Sunnyside retail brand. The openings will bring the total number of stores in the state up to 19.
- TILT Holdings (NEO:TILT,OTCQX:TLLTF)secured approval for the opening of its medical cannabis business in Massachusetts.
- Jushi Holdings (CSE:JUSH,OTCQX:JUSHF)released its Q2 financial results to shareholders. “I am confident that our strong foundation and cost discipline will ensure we maintain our momentum into the second half of the year,” Jim Cacioppo, CEO of Jushi Holdings, said.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
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