MJBizMagazine September 2021 - 19
which Iroquois bought from a third party in 2019.
The company is requesting a court injunction to
prevent Iroquois from pursuing the matter through
arbitration, saying it would cause " irreparable harm. "
Ayr Wellness Enters Two Deals
Marijuana multistate operator Ayr
Wellness agreed to purchase Illinoisbased
Herbal Remedies Dispensaries
for approximately $30 million. The
transaction is made up of $10 million in stock,
$12 million in seller notes and $8 million in cash.
Herbal Remedies operates two licensed cannabis
retail shops with 50 total employees. The deal is
expected to close in the fourth quarter of 2021.
Ayr Wellness also is spending $17 million to acquire
two Nevada cannabis businesses: Tahoe Hydroponics
Co., a cultivator, and NV Green, a concentrates
producer. The deal includes two cultivation licenses,
one production license and one distribution license.
The acquisition's $17 million price tag includes
$5 million in cash, $3.5 million in debt and $8.5 million
in stock.
High Tide Continues Acquisition Spree
Canadian cannabis retail chain High Tide entered
a $3.85 million deal to acquire online marijuana
accessories retailer DankStop.
Under terms of the deal, High Tide's U.S. subsidiary will
purchase 100% of DankStop shares for $3.85 million in
High Tide shares.
Feliks Khaykin, co-founder of New Jersey-based DankStop,
will join High Tide as director of U.S. operations,
and DankStop director Gabe Aronovich will become High
Tide's director of U.S. business development.
Oregon Hemp Businesses Accused
of Mistreating Seasonal Workers
Three Oregon hemp companies are being sued by more
than a dozen seasonal workers who say the businesses
required them to sleep on dirty floors and use the
bathroom outside.
The lawsuit was filed by 17 migrant workers against
West Coast Growers, Topshelf Hemp and Fire Hemp, all
managed by the same man in Grants Pass, Oregon.
The workers charge that the companies withheld
wages and required them to work without lunch or rest
September 2021 | mjbizdaily.com 19
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MJBizMagazine September 2021
Table of Contents for the Digital Edition of MJBizMagazine September 2021
MJBizMagazine September 2021 - 1
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