MJBizMag February 2021 - 16

CompanyNews | U.S., Canada & International
By Omar Sacirbey
Recent deals, acquisitions
and other announcements
from cannabis companies
Driven currently operates in California. The new company
will be known as Driven By Stem.
The company's brand offerings will cover multiple
cannabis product categories, particularly flower, extracts,
edibles and topicals.
The combined market capitalization of the company after
Verano Going Public
Multistate marijuana company Verano Holdings signed
a definitive agreement to go public on the Canadian
Securities Exchange at a value of $2.8 billion through
a reverse takeover of Majesta Minerals, an existing,
publicly held company in Calgary, Alberta.
The move came one month after Chicago-based
Verano agreed to acquire Florida-based Alternative
Medical Enterprises (AltMed) and nine months after an
$850 million deal with Arizona-based Harvest Health &
Recreation collapsed.
Verano hopes to raise $50 million-$100 million in
capital from the offering, according to a news release.
The parties said they hope to close the transaction in
the first quarter of 2021.
Verano currently is active in 12 states, including
Illinois, New Jersey and Nevada, with 18 retail locations
and 440,000 square feet of cultivation space.
Curaleaf Seeks Big Raise, Also Gets Loan
Multistate cannabis operator Curaleaf Holdings of
Massachusetts priced a new offering of 16.5 million
subordinate voting shares in a bid to raise $216.6 million.
The share offering was announced after markets closed
Jan. 6, with Curaleaf saying the funds would be used " for
working capital and general corporate purposes. "
Curaleaf trades on the Canadian Securities Exchange
and on the U.S. over-the-counter markets.
Curaleaf also announced on Jan. 11 that it is borrowing
$50 million by way of a three-year secured revolving
credit facility. The loan will " fund capital expenditures to
support future growth initiatives, potential acquisitions
and ... general corporate purposes, " Curaleaf said in
a news release. The loan carries an interest rate of
10.25% and was fully drawn at closing, Curaleaf said.
The loan matures Jan. 10, 2024.
Vertically Integrated MSO
Acquires Delivery Business
Stem Holdings, a vertically integrated
MSO based in Boca Raton, Florida,
completed its acquisition of Driven Deliveries, an
e-commerce and DaaS (delivery-as-a-service) provider.
16 Marijuana Business Magazine | February 2021
the acquisition was $65 million as of Dec. 29. Shares of
common stock of the new company will continue to trade
under Stem's previous symbols on U.S. over-the-counter
markets and the Canadian Securities Exchange.
Schwazze Acquires Dispensaries
Schwazze, a Denver-based
cannabis company formerly
known as Medicine Man
Technologies, acquired six retail outlets from Colorado
competitor Star Buds in a cash-and-stock deal worth
$37.1 million. The deal announced in late December
was a partial step toward completing a $118 million
acquisition of all 13 Star Buds stores and a cultivation
facility, all of which Schwazze agreed to in June. The
purchase price breaks down to $13.9 million in cash,
$13.9 million in a seller's note and $9.3 million in stock,
according to a news release.
The acquisition includes storefronts in the Colorado
cities of Denver, Commerce City, Longmont, Niwot,
Pueblo and Pueblo West and brings Schwazze's total
retail footprint to 17 cannabis shops. The news release
further noted that Schwazze expects to acquire the
seven remaining Star Buds stores in the first quarter of
2021, " subject to securing the requisite financing. "
Columbia Care Buys SoCal Dispensary
New York-based multistate marijuana operator Columbia
Care struck a deal to acquire Southern California medical
and recreational cannabis store The Healing Center San
Diego for approximately $15 million. The purchase, which
will expand Columbia Care's retail presence in California,
will be paid with $3 million in cash, $6 million in stock
and $6 million in seller promissory notes. In California,
Columbia Care now has five retail stores, two cultivation
sites and one manufacturing facility.
The company has been expanding its portfolio
recently, including acquiring Mid-Atlantic cannabis company
Green Leaf Medical for $240 million in December.
Vireo Picks Up Nevada Grow Licenses
Cannabis multistate operator Vireo Health of Minneapolis
finally closed on a 2018 deal valued at $4 million to
purchase four Nevada marijuana production licenses.
According to a news release, the permits are only for
U.S. DEVELOPMENTS

MJBizMag February 2021

Table of Contents for the Digital Edition of MJBizMag February 2021

MJBizMag February 2021 - 1
MJBizMag February 2021 - 2
MJBizMag February 2021 - 3
MJBizMag February 2021 - 4
MJBizMag February 2021 - 5
MJBizMag February 2021 - 6
MJBizMag February 2021 - 7
MJBizMag February 2021 - 8
MJBizMag February 2021 - 9
MJBizMag February 2021 - 10
MJBizMag February 2021 - 11
MJBizMag February 2021 - 12
MJBizMag February 2021 - 13
MJBizMag February 2021 - 14
MJBizMag February 2021 - 15
MJBizMag February 2021 - 16
MJBizMag February 2021 - 17
MJBizMag February 2021 - 18
MJBizMag February 2021 - 19
MJBizMag February 2021 - 20
MJBizMag February 2021 - 21
MJBizMag February 2021 - 22
MJBizMag February 2021 - 23
MJBizMag February 2021 - 24
MJBizMag February 2021 - 25
MJBizMag February 2021 - 26
MJBizMag February 2021 - 27
MJBizMag February 2021 - 28
MJBizMag February 2021 - 29
MJBizMag February 2021 - 30
MJBizMag February 2021 - 31
MJBizMag February 2021 - 32
MJBizMag February 2021 - 33
MJBizMag February 2021 - 34
MJBizMag February 2021 - 35
MJBizMag February 2021 - 36
MJBizMag February 2021 - 37
MJBizMag February 2021 - 38
MJBizMag February 2021 - 39
MJBizMag February 2021 - 40
MJBizMag February 2021 - 41
MJBizMag February 2021 - 42
MJBizMag February 2021 - 43
MJBizMag February 2021 - 44
MJBizMag February 2021 - 45
MJBizMag February 2021 - 46
MJBizMag February 2021 - 47
MJBizMag February 2021 - 48
MJBizMag February 2021 - 49
MJBizMag February 2021 - 50
MJBizMag February 2021 - 51
MJBizMag February 2021 - 52
MJBizMag February 2021 - 53
MJBizMag February 2021 - 54
MJBizMag February 2021 - 55
MJBizMag February 2021 - 56
MJBizMag February 2021 - 57
MJBizMag February 2021 - 58
MJBizMag February 2021 - 59
MJBizMag February 2021 - 60
MJBizMag February 2021 - 61
MJBizMag February 2021 - 62
MJBizMag February 2021 - 63
MJBizMag February 2021 - 64
MJBizMag February 2021 - 65
MJBizMag February 2021 - 66
MJBizMag February 2021 - 67
MJBizMag February 2021 - 68
MJBizMag February 2021 - 69
MJBizMag February 2021 - 70
MJBizMag February 2021 - 71
MJBizMag February 2021 - 72
MJBizMag February 2021 - 73
MJBizMag February 2021 - 74
MJBizMag February 2021 - 75
MJBizMag February 2021 - 76
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-may-june-2024
https://www.nxtbook.com/emerald/MJBizMag/20240304
https://www.nxtbook.com/emerald/MJBizMag/20240102
https://www.nxtbook.com/emerald/MJBizMag/20231112
https://www.nxtbook.com/emerald/MJBizMag/202310
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-packaging-23
https://www.nxtbook.com/emerald/MJBizMag/202309
https://www.nxtbook.com/emerald/MJBizMag/202308
https://www.nxtbook.com/emerald/MJBizMag/202307
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-retail-strategy-23
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-lighting-23
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2022
https://www.nxtbook.com/emerald/MJBizMag/202210
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-sustainability
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-retail
https://www.nxtbook.com/emerald/MJBizMag/202204
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-security
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag
https://www.nxtbook.com/emerald/MJBizMag/202208
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2022
https://www.nxtbook.com/emerald/MJBizMag/2022-buyers-guide-indoor-grow
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-packaging-automation-buyers-guide-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021-lighting-buyers-guide
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-september-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2020
https://www.nxtbookmedia.com