Week In Review: Cansortium Completes Merger with RIV Capital; Cannabis Industry Forecast for 2025: A Year of Transformation; MariMed Launches Wholesale Cannabis Operations in Missouri; Aurora Cannabis Expands Distribution in Australia

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) Cansortium Completes Merger with RIV Capital: Cansortium Inc., operating under the Fluent brand, has finalized its merger with RIV Capital Inc., establishing a multi-state cannabis operator with a presence in Florida, New York, Texas, and Pennsylvania.

#2) Cannabis Industry Forecast for 2025: A Year of Transformation: As the calendar turns to 2025, the cannabis industry stands on the brink of transformation. This year could mark a pivotal point, shaped by evolving policies, shifting consumer preferences, and new market opportunities on both local and global scales. Let’s explore the trends and challenges that could define the cannabis landscape in what promises to be a critical year

#3) MariMed Launches Wholesale Cannabis Operations in Missouri: MariMed Inc, a multi-state cannabis operator, has initiated wholesale operations in Missouri, marking its expansion into a sixth revenue-generating state.

#4) Aurora Cannabis Expands Distribution in Australia: Aurora Cannabis Inc. has announced a distribution partnership between its wholly owned subsidiary, MedReleaf Australia, and The Entourage Effect, a company that provides distribution and support services to pharmacies in Australia.

#5)Organigram Expands Market Presence with Strategic Investments and Acquisitions: Organigram Holdings Inc., a Canadian cannabis producer, is actively broadening its market reach through strategic investments and acquisitions, supported by British American Tobacco (BAT).

#6) LEEF Brands Closes CAD $500K Financing Round: LEEF Brands Inc. , a California-based cannabis extraction and manufacturing company, has successfully closed the second tranche of its private placement financing, securing an additional CAD $500,000. This follows the first tranche, which raised CAD $2,118,375, bringing the total gross proceeds to CAD $2,618,375, surpassing the initial target.

Psychedelic Sector Update

1#)Kaya Holdings Unveils Psilocybin Therapy Series at Sacred Mushroom Center: Kaya Holdings, Inc. a in wellness and mental health solutions, has announced an inaugural open house event for its psilocybin treatment center, The Sacred Mushroom™. The event will take place on Friday, December 27, 2024, from 5:00 PM to 8:00 PM, at its facility in Portland, Oregon.

2#)FDA Restricts Psychoactive Mushroom in Edibles: The U.S. Food and Drug Administration (FDA) has issued a warning regarding the use of Amanita muscaria (fly agaric) mushrooms and their psychoactive compounds—muscimol, ibotenic acid, and muscarine—in food products. The FDA has determined that these substances are not approved for use in conventional foods and may pose health risks to consumers.

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