Week In Review: Village Farms Completes Divestiture of Fresh Produce Business to Focus on Cannabis; Massachusetts House Approves Cannabis Oversight Reform Bill; Ascend Wellness Secures $50 Million Through Private Placement of Senior Secured Note; FLUENT Corp. Expands Indoor Cultivation with Rosa Facility in Florida

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#)Village Farms Completes Divestiture of Fresh Produce Business to Focus on Cannabis: Village Farms International Inc. has finalized the transaction to privatize its fresh produce operations, marking a strategic shift to concentrate on its cannabis ventures. The deal, completed on May 30, 2025, involves the transfer of the majority of its produce assets to Vanguard Food LP, a joint venture with private investment firms including Sweat Equities.

2#)Massachusetts House Approves Cannabis Oversight Reform Bill: The Massachusetts House of Representatives has unanimously passed legislation aimed at restructuring the state’s cannabis regulatory framework. The bill, designated as H 4187, seeks to address administrative challenges and enhance oversight within the Cannabis Control Commission (CCC).

3#)Ascend Wellness Secures $50 Million Through Private Placement of Senior Secured Note: Ascend Wellness Holdings, Inc. a multi-state, vertically integrated cannabis operator, has completed a $50 million private placement of its 12.75% senior secured notes due 2029.

4#)FLUENT Corp. Expands Indoor Cultivation with Rosa Facility in Florida: FLUENT Corp.a vertically integrated cannabis operator, has initiated cultivation at its new Rosa indoor facility in Tampa, Florida. This development adds 9,200 square feet of high-efficiency indoor canopy to the company’s operations, marking a significant step in its 2025 growth strategy.

5#)Cresco Labs Reports $30 Million in Q1 Operating Cash Flow: Cresco Labs Inc. reported $30 million in operating cash flow for the first quarter of 2025, reflecting its ongoing emphasis on cash generation and financial discipline. This figure follows a record $132 million in operating cash flow for the full year 2024, more than doubling the $59 million reported in 2023

6#) Czech Republic Advances Cannabis Decriminalization: The Czech Republic’s Chamber of Deputies has approved a significant amendment to the nation’s criminal code, decriminalizing the possession and cultivation of cannabis for personal use. The measure permits adults to grow up to three cannabis plants and possess up to 100 grams at home or 25 grams in public. Possession beyond these limits may result in misdemeanour or criminal charges, depending on the quantity involved.

7#)Italy Enacts Security Decree Targeting Protests, Squatting, and Cannabis Industry: Italy’s Senate has passed a comprehensive security decree introduced by Prime Minister Giorgia Meloni’s right-wing coalition, intensifying penalties for public demonstrations, unauthorized property occupations, and the commercial sale of certain cannabis products. The legislation, approved with 109 votes in favor, 69 against, and one abstention, follows prior approval by the lower house and has prompted significant domestic and international criticism.

Psychedelic Sector Update

1#) Silo Pharma’s SP-26 Ketamine Implant Meets All Endpoints in Preclinical Fibromyalgia Study: Silo Pharma Inc. a developmental-stage biopharmaceutical company, announced that its investigational ketamine implant, SP-26, met all primary endpoints in a preclinical study targeting fibromyalgia. The study, conducted in minipigs, assessed the implant’s safety, tolerability, and pharmacokinetics.

2#) Atai Life Sciences and Beckley Psytech Announce Strategic Merger to Form Atai Beckley: Atai Life Sciences, a biopharmaceutical company, and Beckley Psytech, a private UK-based biotechnology firm, have announced a definitive agreement to merge, creating a new entity named Atai Beckley. The all-share transaction values Beckley Psytech at approximately $370 million, with its shareholders set to receive about 105 million new shares, representing a 31% stake in the combined company .

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