48North was at the head of the pack of LPs applying for outdoor growing licences, and received the second such license in mid-May. This week they announced they’d completed planting 10 cultivars over 100 acres and will have two harvests, in late August and mid-October.
NewsWire, Market Exclusive
- 48North Co-CEO Jeanette VanderMarel told me, “We had a record-setting wet spring this year and the fields were not ready to be worked until the rain finally let up. We are on pace with farmers of other crops in our area and are very confident that we will have a substantial Harvest this year.”
- Cannabis growing cannabis is surprisingly reliant on fossil fuels, partly because the energy required for greenhouses is greater than could be derived easily from renewable sources.
- Luxury grower Flowr withdrew an equity offering “due to prevailing market conditions.” Investor Daniel Sax noted, “This is a good litmus test for the market. Not a great time to be looking for capital, even if you’re a solid company.”
Press Release, Twitter
- Toronto LP HeavenlyRX—a subsidiary of SOL Global—invested $9M to acquire 25% of Seattle soft-drink manufacturer Jones Soda. They will develop a line of CBD beverages.