Curaleaf Holdings disclosed that it might buy Cura Partners’ Select brand. Reportedly, this purchase might be completed in an all-stock agreement of about $948 Million. With the latest deal, the firm intends to present itself as the world’s biggest cannabis firm by revenue.
The news of the latest acquisition has triggered to surge the shares of Curaleaf by about 15% to reach C$15.35. The latest deal is expected to enlarge the firm’s presence on the U.S. West coast. It would as well add Select-branded weed oil to its portfolio of topical lotions, vape oils, mints, capsules, and lozenges. In recent times, the pot sector has witnessed a string of agreements as the firms look to propel the scale of their operations in the U.S. Now, the recreational cannabis use is legal in about 10 states and the District of Columbia. At the same time, medical marijuana as well is legal in about 23 states.
On a similar note, a cannabis investor came into the news as he is giving the Harvard and Massachusetts Institute of Technology, his alma maters, about $9 Million. This fund is supposed to be used to study the health impacts of marijuana, as per published reports. Both institutions describe the fund as the biggest private funding of marijuana study, reported the Boston Globe.
Charles R. Broderick, the donor, told the Globe that the lack of fundamental science research allows people to make claims in a vacuum that are either based on old science or anecdotal. He added that due to various sorts of societal reasons we haven’t been able to study this thing for generations. He added that this situation should stop now. One of the motives of the study will be to find out the cognitive and psychological impacts of marijuana. In 2015, Broderick started investing in the cannabis sector in Canada. Then, he expanded his investments to the U.S.