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Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.
Here’s what we’re rolling up this week:
Organigram outlines European expansion plan
Virginia vets recreational regulatory frameworks
iAnthus initiates Arizona asset sale
…and more. Let’s get to it.
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🚨 ROLL CALL
Business
Source: Organigram Global
Global growth. Leading Canadian cannabis producer Organigram Global has reached an agreement to acquire the remaining shares of Germany’s Sanity Group for €113.4 million upfront, with potential performance-based earnouts of up to an additional €113.8 million.
Organigram has secured a private placement investment of C$65.2 million from British American Tobacco (BAT) through its subsidiary to help fund the cash portion of the proposed deal, issuing BAT a mix of common and preferred shares as part of the financing package.
“The proposed acquisition of Sanity Group marks a pivotal step in Organigram's global expansion strategy as a leader in the rapidly expanding cannabis industry. This transformational acquisition will bring together two market leaders, extend our commercial footprint into Europe, and strengthen our competitive edge in the world’s largest federally legal cannabis markets.”
The transaction is expected to close in Q2 2026, subject to regulatory approvals and shareholder consent.
Policy
Source: NORML
Recreational recommendations. Virginia’s legislature has taken a significant step toward establishing a regulated adult‑use cannabis market by advancing competing bills in the House (HB 642) and Senate (SB 542) that set differing timelines, tax rates, and licensing provisions for when and how adult‑use cannabis can be sold in the state.
Under both bills adults 21 and over would be permitted to purchase up to 2.5 ounces of cannabis, and a licensing regime would be overseen by the Virginia Cannabis Control Authority.
These proposals reflect nearly five years of effort since adult-use possession and home grow became legal in the state. Commercial adult-use retail sales could launch as early as late 2026 or early 2027, with the authority empowered to begin accepting license applications by the middle of this year.
Business
Source: iAnthus
Strategic sale. Multi-state cannabis operator iAnthus announced the sale of select Arizona assets to Tempe-based Sonoran Roots for approximately $36.5 million. The deal includes three dispensaries and two processing/cultivation facilities.
This strategic divestiture allows iAnthus to streamline its geographic footprint and concentrate resources on high‑growth markets with stronger margin profiles.
“This transaction aligns with our ‘smart growth, strong margins’ strategy by enabling us to double down on markets where we can deliver the most value to our customers and long-term business interests. By streamlining our Arizona operations, we are laying the foundation for a future defined by operational excellence, unmatched customer loyalty, and enhanced profitability.”
The company will retain a single dispensary location in Mesa, Arizona after the transaction closes.
🇺🇸 STATE OF THE INDUSTRY
Massachusetts: Regulators voted to hold a public hearing on possibly freezing new cultivation licenses and other approvals to help stabilize the market amid oversupply and falling prices.
Minnesota: An administrative law judge struck down the state’s ban on direct‑to‑consumer shipping of hemp‑derived edible and beverage products, allowing licensed retailers to ship these goods to customers instead of forcing in‑person sales.
Missouri: The House of Representatives passed a bill to ban most intoxicating hemp products by restricting sales to only licensed dispensaries and tightening THC limits, sending the legislation to the Senate for further consideration.
💼 BUSINESS
Canopy Growth acquisition climbs closer to completion
The Canada-based cannabis company announced that shareholders of MTL Cannabis overwhelmingly approved its previously announced acquisition plan, clearing a key step toward completing the strategic combination expected to strengthen its position in the medical cannabis market.
💨 QUICK HITTERS
Chicago Mayor Brandon Johnson vetoed an ordinance passed by City Council that would have banned the sale of most intoxicating hemp‑derived products in the city.
Cann is expanding its reach in Texas by partnering with the state’s largest beverage retailer Spec's Wine, Spirits & Finer Foods to carry its full line of award‑winning THC social tonics.
British Columbia’s Supreme Court ordered ex‑Columbia Care CEO Nicholas Vita to pay more than $7.4 million after he engaged in a financial scheme to bypass U.S. securities rules.
Goldflower Cannabis received approval for a new cultivation site in Florida to boost its production capacity and genetic library.
📚 WHAT WE’RE READING
If America has a marijuana problem, The New York Times wants to make it worse (MJBizDaily)
NORML’s Response to the NYT: Editors Fail To Distinguish Between Regulated and Unregulated Marijuana Markets (NORML)
The Best Ways to Regulate Marijuana (New York Times)
Congress Should Delay The Federal Hemp Ban And Instead Enact Regulations For THC And CBD Products (Op-Ed) (Marijuana Moment)
Hunting for the world's most mythical cannabis: Big Sur Holy Weed (SFGATE)
Up in smoke: Records show how retail cannabis imploded in Anaheim amid FBI probe (Los Angeles Times)
Fluharty: WV losing ‘billions’ as Ohio, Pennsylvania move ahead on legal cannabis (WVNews)
🎙️ POTCASTS
Building THC Beverages That Actually Scale (High Spirits)
The Inspire Greatness Podcast - Featuring Socrates Rosenfeld (Inspire Greatness)
📽️ VIDEO OF THE WEEK
🔎 JOB BOARD
Minnesota Cannabis Services
$85,000—$100,000
Jane Technologies
$89,000—$95,000
First Fidelity Bank
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Stay tuned for more cannabis industry news next week!
💚,
The Pre Roll Team
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