The Daily Hit: February 12, 2019

It’s time for your daily hit of cannabis financial news for February 12, 2019.

On The Site

TerrAscend

Yesterday, the San Francisco-based cannabis dispensary chain, The Apothecarium, announced that they had been acquired by TerrAscend Corp. (CSE: TER) for $118.4 million in cash and stock. Including in the purchase agreement are three retail dispensaries in San Francisco; one vertically integrated cannabis operation which includes cultivation, edibles manufacturing, and a retail dispensary location; and the edibles brand Valhalla Confections.

With more than 200 employees and $45 million in combined revenue, Apothecarium made for an attractive buy to TerrAscend, which recently has been making moves to enter the U.S. market.

Supreme Cannabis

The Supreme Cannabis Company, Inc.  (OTCQX: SPRWF) reported a 359% increase in revenue to $7.72 million for the second quarter ending December 31, 2018. This was a 50% sequential increase over the first quarter revenue of $5.14 million.

The company trimmed its losses by delivering a net loss

... read more at: https://www.greenmarketreport.com/the-daily-hit-february-12-2019/

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