Ayr Wellness
Ayr Wellness recently hosted its second Changing Legacies, a series of clinics to expunge the records of individuals with past cannabis convictions. This year, the multi-state operator hosted expungement clinics in Connecticut, Florida, Massachusetts, New York and Pennsylvania. The series is part of Ayr’s corporate social responsibility program, which is dedicated to restorative justice and combatting the effects of the War on Drugs.
Ayr partnered with community and nonprofit organizations for this year’s clinics, including Blaze Responsibly, Cannabis Noire, Center for Community Alternatives, Lady Jane CT and Mass CultivatED.
Moose Labs
Moose Labs, inventors of the germ-free smoking device MouthPeace, recently placed 21st among the fastest growing companies in the Pacific region on Inc. Magazine’s Inc. 5000 Regionals, which showcases businesses from numerous industries with high growth rates during the past two years.
“Recreational cannabis use is steadily increasing, and we are dedicated to creating a more health-conscious smoking experience,” Moose Labs co-founder Jay Rush said in a press release.
The Inc. Regionals list highlights job-generating companies with sustainable growth. This year’s honorees were ranked based on percentage growth of annual revenue between 2019 and 2021. Moose Labs saw a 951% increase during that time.
6 Brick’s
Cannabis retailer 6 Brick’s received a slew of accolades in March. The Black- and family-owned business won two awards at the New England Cannabis Convention, including Best MA Recreational Dispensary, and owner Payton Shubrick received the Young Entrepreneur of the Year. In addition, the company was recently honored with two mayoral proclamations creating 6 Brick’s Day and Payton Shubrick Day on March 16 in the City of Springfield.
In an email to Marijuana Venture, Shubrick said the company is focused on “people, plant and purpose,” including providing “top tier customer service, education, and diverse products with diverse price points.”
High Quality
High Quality, a cannabis retailer based in Corvallis, Oregon, became the first dispensary to win the city’s Small Business of the Year award at the 74th annual “Celebrate Corvallis” event hosted by the Corvallis Chamber of Commerce.
High Quality was also the first cannabis retailer to join the city’s Chamber of Commerce, in 2021. High Quality CEO Brock Binder accepted the award at a ceremony on March 17.
“I am truly humbled and honored to accept this award on behalf of our team at High Quality,” Binder said during his acceptance speech. “Being a part of something larger than ourselves, being of service to others, and contributing to those around us is medicine in itself.”
Zelira Therapeutics
Zelira Therapeutics, a business focused on the development and commercialization of clinically validated cannabinoid-based medicines, recently announced that it has received a binding term sheet from Cantheon Capital LLC to provide an initial $8.6 million cornerstone funding to conduct FDA Phase 2 and Phase 3 clinical trials for its proprietary HOPE 1 product as a special purpose vehicle (SPV).
Zelira will manage the SPV as part of its business and will contribute to the SPV its HOPE 1 product and real-world data to receive 55% equity ownership of the SPV. Cash investors will contribute a total of about $35 million to fund the SVP and FDA trials for HOPE 1 and will receive a cumulative equity interest of 45% of the SVP.
Zelira also contracted with SW4 Advisors Limited to raise the remaining funding required for the SVP on standard commercial terms.
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