Title: Four Pot Firms Merge in Bet Bundled Services Beat Volume
Date: 15 May 2018
The burgeoning cannabis industry, rife with mergers these days, is adding another to the list.
Four businesses agreed to join forces as TILT Holdings Inc., which will have a market capitalization of more than $500 million and plans to trade on the Canadian Securities Exchange, the company said Tuesday. The merger focuses on bundling services — from software to development of indoor cultivation, rather than amassing marijuana volume, according to Chief Executive Officer Alex Coleman.
Pot M&A is front of mind for many after Aurora Cannabis Inc. agreed to buy Canadian rival MedReleaf Corp. Monday in the largest pot deal to date. The combined producer will have the capacity to grow 570,000 kilos (1.26 million pounds) of marijuana a year across two countries.
“I would argue there should be more attention paid to how the consumer is going to purchase it and what they’re going to consume,” Coleman said when discussing recent industry deals.
TILT is taking a distinct path. Rolling together different parts of the business means the company will be prepared to serve interest from new brands as well as existing consumer-packaged-goods giants who want to gain entry into the space, he said.
The four entities that are merging are Baker Technologies, a software company; Briteside, a developer of products including modular cultivation units; Sea Hunter, an investment and management firm for the industry; and Sante Veritas Holdings, a planned Canadian cannabis producer working to obtain a license. The merged company expects to establish operations in every state where cannabis laws exist, it said in a statement.
Title: Louisiana Senate Supports Expanding Medical Marijuana to Treat Several More Conditions
Author: Cannabis Business Times
Date: 14 May 2018
Title: New medical marijuana bill would open the door for more N.J. patients
Date: 15 May 2018
New legislation designed to “significantly increase” access to New Jersey’s medical marijuana program would allow more dispensaries and cultivation centers to open and permit more medical professionals to refer their patients, NJ Advance Media has learned.
The bill was introduced Tuesday by Sens. Joseph Vitale, D-Middlesex, Nicholas Scutari, D-Union, and Declan O’Scanlon, R-Monmouth, in response to Gov. Phil Murphy’s call to reform New Jersey’s medical marijuana program.
Title: NJ.com Launch Subscription Publication – NJ Cannabis Insider
Date: May 2018
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Report: Estimated Tax Revenues From Marijuana Legalization In New York – May 2018Legal_Marijuana_051418