Week In Review: Aurora Cannabis Denies Acquisition of MedLeaf Therapeutics; Canadian Cannabis Producers Expand Exports; Method Man and Zamnesia Partner to Launch Eight TICAL Cannabis Seeds in U.S. and Europe

LOS ANGELES — Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well…they’re not doing so well (hello New York). Let’s get to it! 

Cannabis Industry Highlights

1#)Aurora Cannabis Denies Acquisition of MedLeaf Therapeutics: Aurora Cannabis Inc. publicly refuted recent reports claiming it was acquiring New Zealand–based MedLeaf Therapeutics. In a statement issued on June 18, 2025, the Edmonton-headquartered company confirmed it “has not entered into any such agreement, has had no discussions with MedLeaf Therapeutics with respect to any business combination transaction, and has not made any statement or filed any information pertaining to any such transaction”.

2#)Canadian Cannabis Producers Expand Exports: Canada’s licensed cannabis sector continues its move toward international markets, driven by strong global demand, especially for medical cannabis. During the 2023–24 fiscal year, Canada exported approximately CA$218 million of medical cannabis for commercial and scientific use, marking a significant waypoint in the industry’s evolution. In the first quarter of 2025 alone, over 16 metric tonnes were shipped to Germany, accounting for nearly half of the country’s imported supply.

3#)Method Man and Zamnesia Partner to Launch Eight TICAL Cannabis Seeds in U.S. and Europe: Zamnesia—a European online retailer specializing in cannabis seeds—has partnered with Method Man’s cannabis brand, TICAL, to launch eight exclusive premium seeds across the U.S. and Europe. The collaboration, announced in early June 2025, targets both seasoned home growers and collectors.

4#)AYR Wellness Updates Delay of Q1 2025 Interim Filings: AYR Wellness Inc. announced that it did not complete the filing of its interim financial statements, management’s discussion and analysis, and related CEO and CFO certificates for the three-month period ended March 31, 2025, by the anticipated June 13, 2025 deadline. The delay stems from ongoing negotiations with creditors and the assessment of the appropriate accounting classifications of certain debt obligations under discussion with a committee of its senior lenders. These efforts form part of a broader strategic review process evaluating capital-structure alternatives and other options to address upcoming payment obligations and support execution of the company’s long-term plan.

5#)NewLake Capital Partners Declares $0.43 Second Quarter 2025 Dividend: NewLake Capital Partners, Inc. announced on June 16, 2025, that its Board of Directors has approved a cash dividend of $0.43 per share of common stock for the second quarter of 2025. The declaration underscores the internally-managed REIT’s commitment to delivering consistent returns to its shareholders.

6#)Israel’s Health Ministry Approves Expansion of Apex Labs’ Phase 2b Psilocybin Trial for PTSD: Apex Labs Ltd. has secured approval from Israel’s Ministry of Health (MoH) and relevant ethics boards to expand its ongoing Phase 2b SUMMIT‑90 clinical trial assessing macrodose psilocybin therapy (APEX‑90) for post-traumatic stress disorder (PTSD). The company will add two new sites: Tel Aviv University’s Institute for Psychedelic Research at the Sagol Brain Institute (Tel‑Aviv Sourasky Medical Center) and the Center for Psychedelic Studies at Be’er Yaakov Mental Hospital .

7#) Ohio’s Cannabis Revenue Trends Offer Strategic Guide for Pennsylvania: As Pennsylvania moves closer to legalizing adult-use cannabis, Ohio’s first-year revenue data and regulatory experiences offer critical insights. Since launching sales in August 2024, Ohio has generated approximately $540 million in cannabis revenue from nearly 82,000 pounds sold and over 7.5 million transactions, according to state data. These figures suggest a strong consumer market and fiscal potential, informing Pennsylvania’s ongoing budget discussions, which now include projections of cannabis tax contributions.

8#)MJ and MSOS ETFs Signal High Upside on U.S. Legalization Outlook: Investment in cannabis-focused ETFs such as Amplify’s MJ and AdvisorShares’ MSOS reflects growing investor anticipation of federal legalization-driven expansion, even amid pronounced volatility and structural headwinds. Analysts argue that rescheduling cannabis from Schedule I to Schedule III, expected following the U.S. Department of Health and Human Services recommendation, would ease tax burdens under IRS Section 280E and unlock institutional capital—potentially delivering outsized upside if implemented.

9#)Legislative Wave Follows Growth of Hemp-Infused Beverage Market: The market for hemp-derived cannabis beverages has expanded rapidly since the 2018 federal legalization of hemp, reaching an estimated value of over $1 billion today and projected to exceed $30 billion by 2035. These ready-to-drink products—including seltzers, tonics, and teas infused with cannabinoids such as delta-8 and delta-9 THC—are sold outside traditional dispensaries, attracting health-curious consumers as well as sober-curious drinkers. Their broad availability has also drawn interest from established alcohol distributors and craft brewers seeking to enter the nascent sector.

Psychedelic Sector Update

1#) Trump Administration Supports Psychedelic Research in Mental‑Health Efforts: The Trump administration is showing growing support for research into psychedelics such as MDMA, psilocybin, and ibogaine as potential treatments for mental health conditions. Led by Health and Human Services (HHS) Secretary Robert F. Kennedy Jr., the administration is emphasizing evidence-based approaches to evaluate these substances, particularly for conditions like post-traumatic stress disorder (PTSD), depression, and addiction. Veterans’ mental health is a key focus of this initiative.

To have all our content delivered right to your inbox, and never miss a beat, subscribe to our newsletter at highlycapitalized.com  Stay tuned to Highly Capitalized for more updates as the cannabis and psychedelic industries continue to shape the future at the intersection of wellness and innovation. Subscribe to our newsletter and follow us on LinkedIn.