Multi-state operator Curaleaf, released record results for Q4 and 2020 and announced plans to move into the European market. The results enforce its position as a leading player in the U.S. as more states legalize REC and the push for federal reform intensifies.
WeedWeek

The Wakefield, Mass.-based company reported total revenue of 230.3M for Q4, up 205% year-over-year and total annual revenue of $626.6M, up 184% year-over-year. 

• Curaleaf also announced a definitive agreement to acquire London-based EMMAC Life Sciences Group, which it describes as Europe’s largest vertically integrated independent cannabis company.  Curaleaf said it would pay $286M for EMMAC, 85% in stock and 15% in cash.
• The results open what stock analyst Alan Brochstein anticipates will be a “very solid earnings season” for American operators.
  New Cannabis Ventures
• Separately, VC firm Arcadian Capital is pushing forward with a lawsuit (Paywall) against Curaleaf for an unpaid finder's fee related to Curaleaf's 2020 acquisition of vape brand Select. Curaleaf didn't immediately respond to a request for comment.
  Law360

Quick Hit

1. A lawsuit accuses Canadian operator Canopy Growth and several partners of a complex stock pumping scheme. Former Canopy subsidiary RIV Capital said the suit was "entirely without merit." Canopy told MJBiz it doesn't comment on pending litigation.

Cannabis users could be an attractive target demographic for mainstream brands, according to a study from market research firm Mintel:
Bloomberg

In 2020, roughly one in three adults in states with legal recreational cannabis had consumed it in the last three months -- up from 28% the prior year, according to the study, which drew on polls of 2,000 internet users in states where cannabis is legal.

Cannabis is indirectly affiliated with some lucrative markets, like video streaming and gaming. About two-thirds of respondents said they watched television or movies after using marijuana, Mintel found, while 58% listened to music, 46% had snacks, 29% engaged in creative activities and 28% played video games.

Read the whole thing.

ALSO: Digiday looked at the increased acceptance of cannabis use among corporate executives.

Here's what else is happening:

• It's not clear what New York Gov. Andrew Cuomo's metastasizing scandals will mean for the state's REC push.
  Times Union, Marijuana Moment
• With weeks left in the New Mexico legislative session, REC legalization could come down to the wire.
  Albuquerque Journal
• U.S. News wonders which PotCos are most likely to merge. 
• Cannatech player Dutchie made Fast Company's list of 10 most innovative North American companies.
• A new study found teens who vape cannabis are at greater risk of lung injury than those who smoke cannabis or tobacco, or those who vape nicotine.
  The University Record (U of Michigan)
• A study suggests cannabis extracts might relieve some symptoms associated with Covid-19.
• Another study looks at growers' "giant carbon footprint."
• The Thai green rush is on as the government promotes cannabis and hemp as cash crops. 
  Reuters
• Mexico's long awaited REC bill inched closer to enactment.
  Reuters
• CBS meets Maryland's Hope Wiseman, 29, the youngest Black woman in the country to own a dispensary.