In this week's "Rising High," The Fly's recurring series focused on cannabis stock news, The Fly looks back an acquisition, partnerships and product and services launches.
GREENLANE ACQUIRES EYCE: Greenlane Holdings (GNLN) announced Wednesday it acquired the Eyce brand and substantially all of the assets of Eyce, a manufacturer of specialty silicone smoking products. “Eyce is the definitive leader in premium silicone smoking products and a trusted Greenlane partner for more than seven years. We are very excited to welcome them as the newest addition to our in-house family of brands,” said CEO Aaron LoCascio. “Eyce’s premium products and innovative designs set them apart and we are thrilled to be working with the highly experienced and talented Eyce team to accelerate growth in the Greenlane brands portfolio.” The acquisition is expected to be immediately accretive to Greenlane’s revenue and earnings.
GREEN THUMB PARTNERS WITH CANN: Green Thumb Industries (GTBIF) announced Wednesday an exclusive partnership with cannabis-infused beverage brand Cann to manufacture and distribute its line of cannabis-infused sparkling beverages beginning in Illinois this spring. Green Thumb and Cann will expand distribution to additional markets including New Jersey, which recently legalized adult-use cannabis sales. “The cannabis beverage category is poised for growth. Consumers are increasingly entering the market seeking alternatives to alcohol with familiar consumption experiences,” said Green Thumb CEO Ben Kovler. “Cann sits squarely in this opportunity, delivers on the consumer need, and complements our brand portfolio with entry into the beverage segment.”
RUBICON, VALENS ENTER EXTRACTION AGREEMENT: The Valens Company (VLNCF) announced Wednesday that it had entered into an extraction and custom manufacturing agreement with Rubicon Organics (ROMJF). Under the terms of the agreement, Valens will have the opportunity to leverage its full complement of proprietary extraction capabilities, including organic certified CO2, ethanol, and other extraction technologies, to deliver customized consumer experiences in a variety of 2.0 products under the Rubicon Organics portfolio. Additionally, the custom manufacturing agreement provides a platform for collaboration, new product development and innovation to bring next generation formats to the market, allowing Valens to further expand its industry-leading portfolio of product manufacturing capabilities.
DELTA 9 LAUNCHES SASKATCHEWAN DELIVERY: Delta 9 (VRNDF) announced Friday it had introduced new services to meet consumer demand for online ordering in all retail markets it serves. Delta 9 already has am online service in the Manitoba market and it has now launched a province wide delivery service in Saskatchewan and same-day home delivery service program to the Lloydminster, Saskatchewan marketplace. Delta 9 has also launched an online order service allowing customers to reserve products from Delta 9 stores in Calgary and Grande Prairie and have them ready for pick up within one hour. The company also announced on Monday that it has completed its final services milestone under an agreement with Ontario-based micro cultivation partner, F1NE Cannabis Cultivation. On February 19, 2021, F1 confirmed it had reached its final milestone under the SCA and has been granted its cannabis micro cultivation licenses from Health Canada
CANOPY LAUNCHES BEVERAGE BRAND IN U.S.: Canopy Growth Corporation (CGC) announced Thursday it has entered the U.S. CBD beverage category with the launch of Quatreau, a ready-to-drink CBD-infused sparkling water. The stateside launch follows the 2020 rollout of Canopy Growth's CBD-infused beverages in Canada, where Quatreau is a top-selling ready-to-drink CBD beverage. Quatreau sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD and one of four flavors. With an MSRP of $3.99 per 12-ounce can, Quatreau is a functional zero-sugar drink that delivers a natural, low calorie beverage alternative.
CANNABIS STOCKS: Other publicly-traded companies in the space include Acreage (ACRHF), Akerna (KERN), Aleafia (ALEAF), Aphria (APHA), Aurora Cannabis (ACB), Auxly Cannabis (CBWTF), CannTrust (CTST), Canopy Rivers (CNPOF), Clever Leaves (CLVR), CordovaCann (LVRLF), Cresco Labs (CRLBF), Cronos Group (CRON), CV Sciences (CVSI), CURE Pharmaceutical (CURR), Emerald Health (EMHTF), FluroTech (FLURF), General Cannabis (CANN), GrowGeneration (GRWG), Harborside (HBORF), Hemp (HEMP), HempFusion (CBDHF), HEXO (HEXO), IM Cannabis (IMCC), India Globalization Capital (IGC), Indiva (NDVAF), Lowell Farms (INDXF), Inner Spirit (INSHF), Innovative Industrial Properties (IIPR), Khiron Life Sciences (KHRNF), Liberty Health Sciences (LHSIF), MediPharm Labs (MEDIF), MedMen Enterprises (MMNFF), MJardin Group (MJARF), Neptune Wellness (NEPT), Omnicanna (ENDO), Organigram (OGI), Planet 13 (PLNHF), Skye Biosciences (SKYE), Sproutly (SRUTF), Stem Holdings (STMH), Sunniva (SNNVF), Supreme Cannabis (SPRWF), Valens, TerrAscend (TRSSF), Tetra Bio-Pharma (TBPMF), Tilray (TLRY), Trulieve (TCNNF), Village Farms (VFF), Vireo Health (VREOF), WeedMD (WDDMF), Wildflower Brands (WLDFF), YSS Corp. (YSSCF), Zynerba (ZYNE) and 4Front Ventures (FFNTF).
Greenlane
-0.26 (-4.70%)
Green Thumb Industries
+ (+0.00%)
Valens Company
+ (+0.00%)
Rubicon Organics
+ (+0.00%)
Delta 9 Cannabis
+ (+0.00%)
Canopy Growth
-1.55 (-4.66%)
APHA
+
Aurora Cannabis
-0.46 (-4.40%)
CV Sciences
+ (+0.00%)
CannTrust
+ (+0.00%)
Cronos Group
-0.4 (-3.88%)
Trees Corporation
+ (+0.00%)
IGC Pharma
-0.11 (-6.18%)
Tilray
-1.5 (-5.94%)
Trulieve Cannabis
+ (+0.00%)
Zynerba
-0.29 (-6.43%)