MJBizMag November-December 2021 - 19

Recent deals, acquisitions
and other announcements
from cannabis companies
that resulted in some customers ingesting high-THC
instead of CBD wellness drops.
The case involves the Oregon-based brand Select,
which Curaleaf acquired as part of the Cura Cannabis
deal in February 2020.
According to the lawsuits, at least three people went
to hospital emergency departments after suffering
adverse reactions. The Oregon Liquor and Cannabis
Commission, which issued an expanded product recall
on Sept. 24, said 13 people reported taking the mislabeled
drops. Curaleaf said it has worked with Oregon
regulators to recall the two batches in question.
The Parent Co. to Buy Coastal for Up to $56.2M
The Parent Co. in San
Jose, California, agreed
to acquire 100% of the
equity of California-based Coastal Holding Co. in a
cash-and-stock deal worth up to $56.2 million.
In a news release, The Parent Co. said it will pay for
the transaction with up to $16.2 million in cash and
another $20 million in its common stock upon signing
management-services agreements at each Coastal location
and another $20 million in stock " contingent upon
the successful transfer of Coastal's cannabis licenses. "
The vertically integrated operator also said it will
inherit a minority stake that Coastal holds in a Southern
California dispensary and an option to purchase the
remainder of that business for $9 million in cash. The
transactions are expected to close next year.
AFC Gamma to Raise $100 Million in Notes
and Expand Loans
Florida-based cannabis
business real estate lender
AFC Gamma announced plans
to raise $100 million through an
upcoming debt offering.
According to a news release, net proceeds from the
offering of senior unsecured notes will be used to fund
loans and commitments and provide working capital.
Separately, AFC Gamma loaned an additional $30 million
to Arizona-based multistate marijuana operator Devi
Holdings, which does business as Nature's Medicines.
November-December 2021 | mjbizdaily.com 19

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MJBizMag November-December 2021

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