MJBizMag July 2021 - 22

CompanyNews | U.S., Canada & International
The combined company has a market cap of approximately
$8.2 billion, according to a May 3 news release
announcing the merger. The new Tilray will be led by
Aphria CEO Irwin Simon, with former Tilray CEO Brendan
Kennedy taking a seat on the new company's board.
The company will control about 19% of Canada's
Hexo Announces Multiple Acquisitions
Hexo Corp. of Ottawa, Ontario, struck a definitive deal
to buy Redecan, one of the leading adult-use producers
in the country by market share, in a cash-and-stock deal
worth $766.4 million (CA$925 million).
The deal would vault Hexo into the No. 1 position in
Canada's recreational cannabis market, surpassing rival
producers Canopy Growth and Tilray.
Hexo has been on an M&A tear this year, spending
$1 billion (CA$1.2 billion) buying competing licensed
producers. The company is buying competitor 48North
Cannabis Corp. of Ontario in an all-stock deal worth
approximately $41 million. Hexo also agreed to buy
a 50,000-square-foot cannabis production facility
in northern Colorado, marking a step forward for the
Canadian producer's U.S. ambitions. Terms of the deal
weren't disclosed.
Tilray and Aphria Complete Merger
Once-rival cannabis producers Tilray of British Columbia
and Aphria of Ontario completed a megamerger, forming
one of the biggest diversified marijuana, hemp and beer
companies in the world. The new company will operate
under the Tilray corporate name, with shares trading on
the Nasdaq.
recreational cannabis market, estimates ATB Capital
Markets, an investment banking and financial services
firm in Toronto.
Canadian Manufacturer Buys Green Roads CBD
The Valens Co., a Canadian marijuana product
manufacturer, announced that it will acquire Florida
hemp-CBD manufacturer Green Roads CBD.
The deal includes $40 million up front, including
$25.4 million in Valens common shares and up to
$14.6 million in cash, plus up to an additional
$20 million in earnout payments if earnings goals are
met after the transaction.
A privately owned, hemp-derived CBD company, Green
Roads makes consumer products that are sold online
and in more than 7,000 retail stores. Additionally, Green
Roads provides B2B manufacturing services for several
of its partners.
High Tide Gets OK for Nasdaq Listing
High Tide, a major Canadian retail marijuana chain,
received approval to list its shares on the Nasdaq
Capital Market. Shares of the Calgary, Alberta-based
company began trading June 2. The company will retain
its Canadian stock exchange listing on the TSX Venture
Exchange. High Tide consolidated its shares in May to
meet the Nasdaq's listing requirements.
Canapar sources biomass from farmers under its
subsidiary, Canapar Farming in Italy, then manufactures
and processes CBD oil and isolates. Ramm is active in
CBD pharmaceuticals in South America, producing the
drug Epifractan in Uruguay for the local medical market
and the wider regional market.
Ramm Pharma Acquires Italian Processor
Ramm Pharma, a cannabis-based pharmaceuticals
company with products in several Latin American
countries, bought Sicilian CBD processing firm Canapar
in an all-stock transaction worth about $22 million.
Toronto-based Ramm purchased 49% of Canapar stock
earlier this year.
Have a company announcement you want us to
consider? Send a news release or general information
to omar.sacirbey@mjbizdaily.com.
(Note: We're looking for news about expansions,
financing, mergers and acquisitions, partnerships
and similar developments, not product-related
announcements.)
22 MJBiz Magazine | July 2021
INTERNATIONAL DEVELOPMENTS
CANADA DEVELOPMENTS
MJBizMag July 2021

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