•Canadian cannabis giant High Tide reported Q3 2024 revenue of C$131 million ($97m), an all-time high for the company, on 6% growth both year-over-year and sequentially.  Adjusted EBITDA was positive for the quarter, at C$9.6 million, a decline from the same period in 2023, but High Tide had a positive adjustment of C$2.4 million during Q3 2023. During the quarter, High Tide opened 11 new Canna Cabana locations across Canada and, since the closing of the quarter at the end of July, has added three new locations as well as acquiring an additional retail footprint in Mississauga, Ontario. “This quarter’s record revenue, positive net income, and free cash flow, for the fifth consecutive quarter, sit in stark contrast to some of our big-name competitors recently filing for bankruptcy protection or shutting down completely,” said CEO and founder Raj Grover.

•Cannabis producer and distributor Mammoth Distribution has acquired California-based brand Papa & Barkley. Financial details were not disclosed but the acquisition brings together some of the longest-running cannabis brands in California, with Mammoth Distribution also handling 710 Labs in the Golden State. With the acquisition complete, Mammoth Distribution said the next steps are to cut CO2 emissions and streamline distribution and delivery, while working with the Papa & Barkley team to develop new products. According to Papa & Barkley co-founder Adam Grossman, the sale comes as the brand is planning a national push in regulated markets. In addition to serving as the exclusive distributor for 710 Labs, Mammoth Distribution produces the Almora and Heavy Hitters brands.