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1mo ago Cannabis greenmarketreport Views: 162

This week Tilray, Inc. (NASDAQ: TLRY) bought the majority of the outstanding senior secured convertible notes of MedMen (OTCQX: MMNFF) that were originally held by Gotham Green Partners. The transaction is valued at $165.8 million. Tilray said the purchase sets the company up to own a significant equity position in MedMen. In connection with the sale of the Notes, MedMen and GGP amended the restrictive covenants and extended the debt maturity to 2028 to provide MedMen some flexibility. In addition to the Tilray purchase, MedMen announced that investors, led by Serruya Private Equity are buying $100 million of units of MedMen at a purchase price of $0.24 (C$0.32) per Unit. Ayr Wellness Inc. (OTCQX: AYRWF) reported revenue rising 222% to $91.3 million. This was a 56% increase sequentially. Ayr is raising its revenue guidance for 2022 revenue to $800 million, up from $725 million. Ayr’s net losses increased to $24.9 million over last year’s $5.4 million. Also this week Ayr said it was buying beverage company Cultivauna, LLC, the owner of Levia branded cannabis-infused seltzers in a deal valued at potentially $40 million. TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) reported that second-quarter revenues increased 72% to $58.7 million over last year’s $32.4 million. Notably, TerrAscend withdrew its previous 2021 guidance due to temporary yield declines of quality flower in Pennsylvania related to ongoing construction and expansion. In addition to that, the company has decided to increase its allocation of the company’s branded products to its own Apothecarium dispensaries in New Jersey. Last quarter the company raised its full-year guidance to $300 million versus the previous guidance of $290 million. Greenlane (Nasdaq: GNLN) reported second quarter revenue increasing 7.1% to $34.7 million from last year’s $32.4 million. It was a slight miss for Greenlane. The net loss fell 7.5% to $5.8 million from last year’s $6.3 million net loss. The company said that core revenue (defined as non-nicotine revenue) grew 14.9% to $34.5 million. Auxly Cannabis (TSX.V – XLY) (OTCQX: CBWTF) reported total revenue of $29.5 million for the second quarter. MariMed, Inc. (OTCQX: MRMD) reported its revenue increased 239% to $32.6 million versus last year and the company also increased its revenue guidance in 2021 to $118 million. Marijuana Money: August 20, 2021 on Green Market Report. -

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