Two Bay Area cannabis dispensaries announced big deals this week with publicly traded Canadian marijuana companies.
The Apothecarium, which operates three popular dispensaries in San Francisco and one in Las Vegas, accepted an offer of $118 million in cash and stock from TerrAscend, a cannabis company in Toronto.
In a separate deal, Oakland-based Harborside, one of the largest dispensaries in the country, announced a new partnership with Lineage Grow Co., also in Toronto. The arrangement will allow Harborside to be listed on the Canadian Securities Exchange, a favored destination for U.S. marijuana businesses.
The two deals are subject to regulatory approvals in both countries.
Last October, Canada became the first major world economy to legalize recreational marijuana (it’s also legal in Uruguay), and a growing number of U.S. cannabis businesses are looking north for investors.