Cannabis mega-mergers could create industry giants. Weeks after Tilray and Aphria merged, Trulieve Cannabis just announced its plans to acquire Harvest Health & Recreation in a $2.1 billion all-stock deal. Combined they would be one of the largest cannabis companies in the world in terms of sales, notes Barron’s. Coupled with state and potential federal legalization of cannabis could be substantial news for companies like Allied Corp. (OTCQB:ALID), Aleafia Health Inc. (TSX:AH)(OTCQX:ALEAF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), and Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTCQX:CWBHF).
In fact, not only are more states legalizing cannabis, but we could soon see a federal legalization bill from Senate Majority Leader Chuck Schumer. According to Marijuana Moment, “Schumer for months has signaled that he and Democratic colleagues Sens. Cory Booker (D-NJ) and Ron Wyden (D-OR) intend to bring legislation this session to legalize cannabis nationwide, though the group has not yet revealed their proposal.”
Look at Allied Corp. (OTCQB:ALID), For Example
Allied Corp. just announced that it has sold out of its first harvest production inventory. The demand for Allied’s high-quality product has surpassed Allied’s initial supply. In response to this, Allied is swiftly scaling the production in Colombia.
Allied has signed the last purchase order from an international buyer that completes the sale of the last volume of production output from Allied’s initial harvest. This news comes as follow up to Allied’s approvals for being able to commercialize its production output as well as approvals to export to two very large international markets. This positive response from the market has enabled Allied to expedite its business plan.
Scaling the Colombian Production Center
Allied has now prepared the cultivation site and required infrastructure to be able to have the current site operating at full capacity. Allied intends to further expand this to include the additional land surrounding its current location. Due to the advantages that the equatorial climate offers, Allied has adopted a weekly rolling harvest schedule. This presents consistent reliable supply at national level volumes. With the current export approvals, Allied can supply national level quantities to wholesale buyers in several international markets.
“Like in any healthy market, good quality product moves very quickly. We have been very purposeful to not expand too quickly but rather match our supply to the market demand. In light of this, we have put resources towards scaling the production footprint in Colombia. 2021 is an exciting year thus far for Allied to say the least,” said Calum Hughes CEO of Allied.
Other Related Developments From Around the Markets Include:
Aleafia Health Inc., a global leader in cannabis wellness products and services, is pleased to announce that CEO Geoffrey Benic will present at Canaccord Genuity’s Global Cannabis Conference on Tuesday, May 11, 2021 at 11:00 a.m. EDT.
Canopy Growth Corporation, a world-leading diversified cannabis, CBD and vaporization device company, announced Southern Glazer’s Wine & Spirits, the world’s pre-eminent distributor of beverage alcohol, as the distribution partner for its U.S. portfolio of CBD-infused beverages. This partnership announcement follows the recent launch of Quatreau – Canopy’s first line of CBD-infused beverages sold in the U.S. market.
Tilray Inc., announced that as of May 5, 2021, its shares of class 2 common stock have commenced trading on the Toronto Stock Exchange under the ticker symbol “TLRY.” The Tilray Shares will continue to trade on the Nasdaq Global Select Exchange under the ticker symbol “TLRY.” As previously announced, each holder of common shares of Aphria Inc. received 0.8381 of a Tilray Share for each Aphria common share held on April 30, 2021, the effective time of the business combination of Aphria and Tilray. Holders of Tilray Shares prior to the completion of the business combination continue to hold their Tilray Shares with no adjustment as a result of the business combination.
Charlotte’s Web Holdings Inc., the market leader in hemp-derived cannabidiol wellness products and a Certified B Corporation, will report its first quarter results on May 11, 2021 before the open of trading on the Toronto Stock Exchange. A conference call to discuss the results is scheduled for the same day at 8:30 a.m. Eastern Time.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Allied Corp. by a third party. We own ZERO shares of Allied Corp. Please click here for full disclaimer.