Forbes: Hall Of Flowers: Acquisitions And Celebrity Cannabis Debuts
Sara Brittany Somerset
FLOWERS, PRESS, NEWS
Dispatches live from Hall of Flowers, in Sonoma County, California:
Curaleaf is Acquiring Select
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf"), a vertically integrated cannabis operator in the United States, announced today it has signed a definitive agreement to acquire the state-regulated cannabis business of Cura Partners, Inc. ("Cura"), owners of the Select brand, in an all-stock transaction valued at C$1.27 billion or US$948.8 million. Post-transaction, Cura will have approximately 16% pro forma ownership of Curaleaf on a fully-diluted basis.
Immediately upon the closing of the deal, Select CEO Cameron Forni will join Curaleaf as President of Select and will join the Curaleaf Board of Directors.
Big Pharma Comes to Cannabis
MMJ International Holdings has announced an agreement for manufacturing of its oral drug product for the treatment of multiple sclerosis (MS) and Huntington's disease (HD) with Thermo Fisher Scientific.
Under the terms of the agreement, MMJ International Holdings will develop the active pharmaceutical ingredient (API) for drug product MMJ 001 as a liquid-filled gel capsule. MMJ-001 is derived from the marijuana plant containing THC and CBD as a natural whole plant extract.