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The Week In Cannabis: Amazon, Canopy's Earnings, Africa's Largest Co., Drake, Ashley Benson And More


Another busy week in cannabis saw the stock market post generalized losses, as
Amazon.com Inc. (NASDAQ:AMZN) came out in support of the federal legalization of marijuana, announcing it will drop marijuana testing requirements for some of its workers.
Dave Clark, CEO of Amazon’s worldwide consumer division, said in a blog post that the e-commerce giant will actively support the Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act), which would decriminalize marijuana at the federal level. The bill was reintroduced in Congress last Friday.
Canopy Growth Corporation (TSX:WEED) (NASDAQ: CGC) reported its fourth quarter and fiscal year 2021 earnings with a net loss for the year amounting to CA$1.7 billion ($1.41 billion), representing a CA$283 million wider loss versus FY 2020.  ....

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Enveric Envisions Using Mushrooms and Cannabis to Help Patients


Enveric Envisions Using Mushrooms and Cannabis to Help Patients
The cannabis biotech company explains why the acquisition of MagicMed makes sense, additional capital raises and the Psybrary.
Stocks quotes in this article:
ENVB
Cannabinoid biotech company Enveric Biosciences Inc. (ENVB) recently decided to expand its product offering to its targeted patient group by bringing psychedelic medicine company MagicMed into its fold.
Enveric acquired privately held MagicMed recently in a deal valued at $30 million. Enveric s CEO David Johnson is moving into the Chairman role, while MagicMed s leader, Dr. Joseph Tucker, will be named the new CEO of the combined company.
I had the chance to speak with Dr. Tucker and find out why this cannabis biotech company felt the need to expand into psychedelics. ....

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The Week In Cannabis: Trulieve's $2.1B Acquisition, New ETF, Earnings, Federal Legalization And More


On Monday,
Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) announced it s purchasing
Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HRVSF) for roughly $2.1 billion in stock. Harvest shareholders will own roughly 26.7% of Trulieve s issued and outstanding pro forma shares on a fully diluted basis.
Commenting on the deal, Debra Borchardt, CEO of Green Market Report, told Benzinga, “The acquisition is likely to come with its fair share of headaches. Harvest Health has a mountain of debt and lots of lawsuits over various deals. Still Trulieve is certainly on a quest to become a nationwide company and this will certainly help pave the way.” ....

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