Health-related marijuana sales in Pennsylvania top rated $500 million
– Linked Press
Cannabis firm Cresco Labs amends, delays purchasing Canada’s Origin Residence
Chicago-primarily based Cresco Labs on Wednesday announced it amended its all-stock acquire of Canada-primarily based marijuana distributor Origin Residence and delayed the closing date. The deal for Ottawa, Ontario-primarily based Origin Residence is now anticipated to close in mid-January, as an alternative of this month.
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Canadian cannabis producer Tilray’s revenues rise
Cannabis producer Tilray, primarily based in British Columbia, Canada, reported third-quarter income of $51.1 million (CA$67.eight million), a 408% jump from the exact same period a year earlier. Tilray, which trades on the Nasdaq as TLRY, also booked an 11% improvement from the second quarter’s $46 million, in line with consensus estimates.
A chart displaying the quarterly earnings for significant cannabis businesses is available right here.
Marijuana firm Green Thumb sells Pennsylvania facility for $39.six million
Chicago-primarily based Green Thumb Industries, a cannabis customer packaged goods business and owner of marijuana retail retailers, sold its processing and cultivation facility in Pennsylvania to Revolutionary Industrial Properties (IIP) in a $39.six million deal. Green Thumb Industries will lease the facility in Danville, Pennsylvania, from San Diego-primarily based IIP and continue to operate it.
Acreage Holdings’ third-quarter cannabis revenues soar
Acreage Holdings, a multistate marijuana operator primarily based in New York, reported third-quarter earnings of $22.four million, a 307% enhance from the exact same period in 2018. The business reported a net loss of $39.9 million for the quarter that ended Sept. 30.
A chart displaying quarterly earnings for significant cannabis businesses is accessible right here.
Nevada marijuana mogul sues competitor for slander
Armen Yemenidjian, a huge player in the Las Vegas cannabis market, is accusing a further prominent marijuana dispensary owner in the city of slandering him by saying he engaged in criminal activity, according to The Nevada Independent. Yemenidjian was portion of a group that sold Nevada marijuana operations to Chicago-primarily based Green Thumb Industries in a $290 million deal. He remains affiliated with a quantity of cannabis dispensaries in Nevada.