The Week In Cannabis: CannTrust Rallies Unexpectedly, Josh Kushner And Shane Victorino Join The Industry, And More

In a week with relatively few cannabis news items, Florida state Rep. Shevrin Jones filed a bill to decriminalize the possession and delivery of cannabis; the Mexican government announced a public hearing to discuss the legalization and regulation of cannabis; Josh Kushner’s Thrive Capital entered the marijuana space, leading the closing of a $35-million Series B funding round for cannabis wholesale marketplace LeafLink; and KPMG withdrew its CannTrust Holdings Inc (NYSE: CTST) financial statements for 2018 and 2019, a few weeks after the company was involved in a licensing scandal in Canada.

CannTrust shares spiked Friday, closing the day up more than 43.5%. 

In other news, Canada-based TerrAscend Corp (OTC: TRSSF) (CSE:TER) announced it is acquiring Pennsylvania-based Ilera Healthcare in a transaction valued between $125 million to $225 million.

TerrAscend is a portfolio company of Canopy Rivers Inc (OTC: CNPOF), the investment arm of Canopy Growth Corp

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