Since Canopy Growth’s offbeat acquisition of Acreage Holdings last month, the cannabis industry is seeing an uptick in partnerships, acquisitions, and joint ventures across all markets in North America. Legalization is on the mind of more than one presidential hopeful, and consumers themselves are calling for product diversity and regulation. As if to answer the call, pot stocks and industry leaders are looking for the right partners to take on this ever-expanding, barely legal industry.
Here’s a closer look at this week’s top joint ventures in cannabis:
Trulieve closes latest acquisition and enters their fourth cannabis market
Trulieve Cannabis Corp. (CSE:TCNNF) officially closed their acquisition of Connecticut-based dispensary chain The Healing Corner, Inc. earlier this week. The Healing Corner is known for their one-on-one consultations between patients and pharmacists, and Trulieve CEO Kim Rivers believes this acquisition will uphold the cannabis stock’s growing reputation for customer experience.
“The Healing Corner has demonstrated a strong track record of profitable growth, and we believe we are well-positioned to leverage our combined vision of delivering exceptional customer experience and best-in-class products,” she stated in Tuesday’s press release.
This acquisition puts Trulieve in their fourth North American market, driving their strategy to become a multi-state cannabis operator. Investors should note that the company will be speaking more about The Healing Corner and this transaction in their upcoming conference call scheduled for May 29.
Aurora spin-off Australis Capital acquires Green Therapeutics and a new state-of-the-art cannabis facility
Australis Capital Inc. (CSE:AUSA)(OTC:AUSAF) also announced Tuesday that the company would be acquiring Green Therapeutics. Per the purchase agreement, Australis will now be privy to all of GT’s intellectual property, their operations team, and their brands of cannabis flower. GT’s 55,000 square