Of the Northern Green Canada deal, Matt Darrin, CEO of Curaleaf, says that “It’s got a lot of different benefits to it, like ensuring this supply of this high-quality indoor flower that we have a number of different outlets for throughout the world. … But also from a margin standpoint, we view this as very margin-accretive to bring this as part of our vertical supply chain.”
In an interview on the April 22nd episode of Trade to Black, Matt Darin shares details on Curaleaf’s recently announced closing of a $16m acquisition of Northern Green Canada. The company has claimed that the acquisition will “amplify” its strategic advantage in European markets overseas including Germany, Poland, and the United Kingdom and give emerging oceanic markets a foothold. Matt goes on to explain exactly how they expect this to support Curaleaf’s pursuit of a global cannabis market projected to generate $55 billion in sales by 2027.
In our Into The Wire segment, we touch on the biggest recent cannabis headlines and the impact they’ve had on the industry. Cannabis retailers using Dutchie’s point-of-sale (POS) system experienced widespread outages on 4/20. Some outlets reported that the POS was down for over five hours.
In New Mexico, the US Customs and Border Protection (CBP) has been seizing cannabis shipments. Some of these shipments include commercial, state-authorized supplies. Since February, agents have been responsible for six incidents of product loss worth hundreds of thousands of dollars. We will explore the measures local companies are taking to seek protection.
A legislative agenda was revealed last week by the Congressional Progressive Caucus (CPC) regarding a number of domestic policy issues. The agenda was introduced to “reduce criminalization and incarceration through sentencing reform, legalizing cannabis, expunging records, providing restorative justice, and an accelerated and reformed clemency process for people with marijuana-related convictions.”
Be sure to also tune in to catch AdvisorShares’ Dan Ahrens for MSOS Monday. Dan will talk about price action we’ve seen since 4/20 and details from his discussions with industry leaders at last week’s Benzinga Cannabis Capital Conference.