MJBizMag February 2022 - 18

COMPANY NEWS U.S., Canada & International
CANADIAN DEVELOPMENTS
Tilray and AB InBev
End Cannabis Partnership
One of the world's largest brewers,
AB InBev, and Canada's leading
cannabis producer by market share,
Tilray, ended their partnership
making CBD- and THC-infused
beverages.
The joint venture, Fluent
Beverage Co., will continue as a
subsidiary of Labatt Breweries of
Canada, one of AB InBev's Canadian
subsidiaries. Tilray will serve as
Fluent's co-manufacturing partner.
Fluent will now focus on nonalcoholic
CBD beverages in Canada,
Hemp Industry Daily reported.
AB InBev and Tilray first
announced the partnership in late
2018, shortly after Canada legalized
adult-use cannabis. Each company
had a 50% ownership interest. The
partnership was formed before
Tilray merged with Aphria.
Village Farms Delists From
TSX, Remains on Nasdaq
Canadian produce and cannabis
company Village Farms
International voluntarily delisted
its shares from the Toronto Stock
Exchange on Dec. 31. The company
will retain its U.S. share listing on the
Nasdaq Capital Market, where its
stocks have traded since 2019.
The company, headquartered
in Delta, British Columbia, cited
the expense associated with
maintaining a listing as its reason
for leaving the TSX.
Village Farms also said the
Nasdaq listing offers enough
liquidity for shareholders and that
the cost savings " can be redirected
INTERNATIONAL DEVELOPMENTS
Dermapharm Buys Canopy
Cannabinoid Subsidiary C3
German pharmaceutical
manufacturer Dermapharm
Holding struck a deal to buy C3
Cannabinoid Compound Co.
from Canadian cannabis producer
Canopy Growth.
Dermapharm will pay Smiths
Falls, Ontario-based Canopy
$91.6 million (80 million euros)
upfront, plus another $48.8 million
if certain milestones are met by C3.
Audacious Brands Ships
Hempseeds to Thailand
A Las Vegas-based marijuana
operator sent its first shipment
of CBD-rich hempseeds to Asia as
part of a new partnership with
a company based in Thailand.
Audacious Brands entered a
18 February 2022 | MJBizMagazine
partnership with Golden Triangle
Health, a subsidiary of the
publicly traded
NRF, to supply
major consumer
packaged goods
companies with white-label and
branded products. The seeds will
be cultivated for food products and
CBD extraction.
Aurora Sends Its Largest
MMJ Shipment to Israel
Edmonton, Alberta-based Aurora
Cannabis sent its largest-ever
shipment of medical marijuana to
the fast-expanding Israeli market.
The company said the shipment
was worth nearly $8 million.
Aurora reported $12.8 million
in medical cannabis sales outside
North America in its latest quarter.
Honest Marijuana Co.
Makes Inroads in Tanzania
California-based Honest Marijuana
Co. is working with Your Local
Clinic, a chain of medical offices
in Tanzania, to establish itself for
the production and sale of medical
marijuana and to create supply lines
for expansion opportunities such
as distribution to Europe. Honest's
plan depends on Tanzania's
recognition of MMJ.
Have a company announcement you
want us to consider? Send a news
release or general information to
omar.sacirbey@mjbizdaily.com.
(Note: We're looking for news
about expansions, financing,
deals, partnerships and similar
developments, not product
announcements.)
to initiatives intended to generate
shareholder value. " '
Organigram Acquires
Laurentian Organic
Organigram
Holdings,
a New
Brunswick-based license holder,
acquired Quebec cannabis producer
Laurentian Organic in a deal worth
at least $27.8 million (CA$36 million).
The purchase price includes
$7.7 million in cash and $20 million
worth of Organigram shares.
Organigram said the acquisition,
which included privately held
Laurentian's Tremblant Cannabis
hashish brand, would boost the
company's presence in the Quebec
market, Canada's second-largest
by population.
MJBizMag February 2022

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