Industry Update: Cannabis
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the cannabis industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
Industry Highlights
- Innovative Industrial Properties, Inc., the self-advised Maryland corporation
focused on the acquisition, ownership and management of specialized properties for medical cannabis cultivation, continued its pace of acquisitions in the second quarter of 2022. Spending approximately $77 million on three developed properties located in Texas, Maryland and Massachusetts. - On May 12, 2022, Skye Bioscience, Inc. and Emerald Health Therapeutics, Inc. announced the companies entered into a definitive agreement whereby Skye would acquire all of the issued and outstanding shares of Emerald in a share-for-share-transaction. Skye is a San Diego-based pharmaceutical company developing proprietary, synthetic cannabinoid derivatives to treat glaucoma and other diseases with unmet needs.
