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Cannabis Canada Daily: Will U.s. Vaping Health Concerns Spell Weaker Demand For Vapes In Canada? - Article

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MedMen says DOJ review period for PharmaCann acquisition expired, deal expect to close this year

MedMen Enterprises said Tuesday that the U.S. Department of Justice’s Antitrust division’s 30-day review period for its proposed acquisition of PharmaCann expired with no further follow-ups requested. The company described the event as a “monumental day for the cannabis industry” and should clear a major hurdle for the deal to close sometime by the end of the year. Canaccord Genuity analyst Matt Bottomley said in a note to clients on Tuesday the DOJ’s decision – or lack of a decision – should result in other major U.S. cannabis deals moving forward and could spark a new wave of M&A in the U.S. cannabis market. “We believe this is more of an educational process for the DOJ, as opposed to objective issues with any particular announced deals to date,” Bottomley said. The DOJ didn’t return a request for comment to BNN Bloomberg on why it let its review period expire.

Valens provides 3Q guidance, expects revenue to nearly double from prior quarter

Source: https://www.bnnbloomberg.ca/cannabis-canada-daily-will-u-s-vaping-health-concerns-spell-weaker-demand-for-vapes-in-canada-1.1314062

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