On Monday,
Tilray, Inc. (NASDAQ:TLRY) and
Aphria, Inc. (NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion. Benzinga spoke with
Irwin Simon, CEO of the new combined company.
Check out the video below:
Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.
Jazz Pharmaceuticals (NASDAQ:JAZZ) finalized its acquisition of
GW Pharmaceuticals plc. (NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma s cash.
Meanwhile,
Ascend Wellness Holdings (CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.
A vast network of local buyers and suppliers
Satisfaction ratings for both buyers and sellers
Built-in personalized sourcing and sales agents
Detailed filters
“The cannabis industry lacks trust and transparency. Wholesale buyers and suppliers want and benefit from quality verification and grading,” said Jhavid Mohseni, CEO of Tamerlane Trading. “We created an open marketplace where graded inventory leads to a 90% reduction in returns, allowing buyers to trust their orders will arrive correctly, and suppliers to leverage the value of their product and access developed sales channels.”
Furthermore, Tamerlane Trading marketplace plans to utilize artificial intelligence and machine learning to enable organized buying and selling operations. Additional future integrations will include automated auctions and tokenized Certificates of Grade (COG) from grading partner Big Tree Grading with crypto-token standards.