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Cannabis Briefs for May 4, 2021

May 4, 2021

•The Parent Company has launched Caliva Flowersticks, a new line of whole flower vapes made for the Omura X vaporizer. Caliva Flowersticks are debuting in three strains—Alien OG (Indica), Sour Diesel Lemon Kush (Sativa) and Watermelon Sorbet (Hybrid)—with a pack of 12 Flowersticks retailing at $30. Along with Caliva, The Parent Company’s portfolio also includes Jay-Z’s cannabis brand Monogram.

•Chicago-based Green Thumb Industries has acquired one of Virginia’s five vertical licenses following the passage of legalization legislation last month. Green Thumb has agreed to take 100% ownership of Dharma Pharmaceuticals, which owns an operational production facility and a retail location in Abingdon, Virginia, having been a leader in Virginia’s medical market. Green Thumb will have the option to open an additional five dispensaries. Before this deal, Dharma’s majority equity share was held by Merida Capital. The deal is expected to close sometime in the back half of this year, at which time Green Thumb will be active in 13 states. Financial details were not disclosed.

•New York medical cannabis giant Columbia Care has acquired an additional cultivation location on eastern Long Island. The company will pay $42.5 million, broken into $15 million cash and $27.5 million in Columbia Care stock, to the current owners, who use the facility to grow ornamental flowers; it has previously been engaged in industrial hemp production. The facility offers 740,000 square feet of operational greenhouse space to augment Columbia Care’s existing Rochester facility, which has been operational since 2015.

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