MJBizMag September 2020 - 18

CompanyNews | U.S., Canada & International
By Omar Sacirbey
Recent deals, acquisitions
and other announcements
from cannabis companies
cannabis, to conduct a second collaborative research
study on the effectiveness of Pennsylvania's medical
marijuana program.
The study will measure the quality of life reported by
patients using cannabis to address pain relief. Results
from a previous study found that the levels of THC in
products used by patients had the biggest impact on
symptom relief.
LeafLink Raises $250 Million
LeafLink, a New York-based cannabis inventory and
ordering platform, raised $250 million in a credit
financing. The company said its supply-chain financing
arm closed the senior secured credit facility with a private
commercial lender, but terms weren't disclosed. LeafLink
plans to use the capital to provide liquidity to licensed
cannabis businesses at a time when they face challenges
such as limited access to basic financial services.
Curaleaf Completes Acquisition,
Partners with IIP on New Jersey Leaseback Deal
Massachusetts-based multistate operator Curaleaf
completed its purchase of privately held Grassroots
Cannabis, expanding Curaleaf's footprint to
135 dispensary locations and licenses in
23 states. Curaleaf said it now will have 88
operational dispensaries, 30 processing facilities
and 22 grow sites with a total cultivation capacity
of 1.6 million square feet.
The original value of the deal was $875 million, but
Curaleaf announced in June an amended agreement
that reflected a selloff of unspecified Grassroots assets
in Illinois, Maryland and Ohio to comply with license
caps in those locations. Analysts at that time put the
value of the revised deal at about $700 million.
Curaleaf was also involved in a sale-leaseback deal
with Innovative Industrial Properties, a San Diegobased,
marijuana-centric real estate investment trust
(REIT). Innovative bought a 111,000-square-foot
facility in Blue Anchor, New Jersey, for $5.5 million,
then leased it back to a subsidiary of Curaleaf for use
as a commercial marijuana facility. The California REIT
agreed to reimburse Curaleaf for up to $29.5 million in
improvements to the property.
IIP also has brokered deals with cannabis MSOs such
as Cresco Labs, Green Thumb Industries and Trulieve.
Pennsylvania Cannabis
Study Consortium
Keystone Canna Remedies dispensary is partnering
with the University of the Sciences in Philadelphia and
Releaf App, an app for individuals to track their use of
18 Marijuana Business Magazine | September 2020
New Name For Chicago Cannabis Firm
NuMed, a vertically integrated cannabis company in
Chicago, changed its name to NuEra to reflect the
company's expansion from serving exclusively medical
marijuana patients to both MMJ and recreational
cannabis consumers.
NuEra has three retail outlets in Illinois-Chicago,
East Peoria and Urbana-and a new brand of flower and
pre-rolls. NuEra also recently took over ownership of the
Hillcrest Cultivation Center in Rochelle, Illinois.
Verilife Opens Dispensary in Massachusetts
Multistate cannabis company PharmaCann opened a
Verilife dispensary in Shrewsbury, Massachusetts. It is
the second Verilife retail location in the state and will
initially serve the adult-use market with plans to serve
medical patients. PharmaCann operates another Verilife
location in Wareham, Massachusetts, which serves
medical and adult-use consumers.
TerrAscend Opens Apothecarium Berkeley
Ontario, Canada-based TerrAscend Corp. opened its
seventh retail store. The Apothecarium Berkeley is
TerrAscend's fourth dispensary in California and its
seventh in the United States.
The Apothecarium Berkeley is a 4,200-square-foot,
full-service recreational and medical cannabis retailer
that offers online ordering and delivery.
ECS Brands Earns Organic and Non-GMO Certifications
Broomfield, Colorado-based ECS Brands, a hemp
and cannabinoid supply and products manufacturing
U.S. DEVELOPMENTS
MJBizMag September 2020

Table of Contents for the Digital Edition of MJBizMag September 2020
