The U.S. legal cannabis industry has grown significantly and to the point that it now rivals large worldwide corporations like Netflix and McDonalds. And the industry is expanding rapidly due in part to California’s massive cannabis market. According to data compiled by Marijuana Business Daily’s Factbook, the legal cannabis market delivered revenues of approximately USD 6.2 Billion in 2017 and is expected to grow by more than 200% from 2017 to 2022. (January 17, 2019 (PR Newswire))
Acquisition to Bring Harvest’s Award-Winning Retail, Operations and Products to Florida, Adding to Footprint Across 10 States
PHOENIX & GAINESVILLE, Fla., November 21, 2018–(BUSINESS WIRE)–Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HTHHF) (“Harvest”), a vertically integrated cannabis company with one of the largest footprints in the United States, today completed the purchase of its previously announced plans to acquire 100 percent of the issued and outstanding common stock of San Felasco Nurseries, Inc. (“San Felasco”), a holder of a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida that can produce, process and dispense medical marijuana and marijuana products. Each Medical Marijuana Treatment Center is allowed to operate up to 25 dispensaries in the State of Florida, subject to increase in certain circumstances.
CCanadian marijuana producer Hexo Corp. HYYDF, +5.10% HEXO, +4.99% said early Thursday that it has been approved for listing on the NYSE American exchange, and will begin trading Jan. 23. Hexo’s current over the counter listing in the U.S. is up 1.9% in Thursday trading. Hexo follows other Canadian licensed cannabis producers such as Aurora Cannabis Inc. ACB, -2.28% ACB, -2.99% and Canopy Growth Corp. CGC, +2.27% WEED, +1.16% which have also listed on U.S. exchanges. Hexo and Molson Coors Brewing Co. TAP, +2.91% have signed a joint venture to develop non-alcoholic, cannabis infused beverages