Valley AgMulti-state cannabis company iAnthus Capital Management has now planted its flag in New York with Monday's announced acquisition of Valley Agriceuticals. The deal is valued at $17.3 million and includes $2.3 million in cash and $15 million in iAnthus shares priced at $2. The acquisition, which is expected to close in the third quarter, includes 136-acre campus zoned for cannabis, a 6,500-square-foot cultivation facility and ultimately the Valley Ag New York State license for cultivation and four dispensaries. Valley Ag is one of the new soon-to-be cannabis licensees following the state's decision to increase the licenses from five operators to 10. Valley Ag had already been on the iAnthus radar.

Source: Forbes June 13, 2017 13:52 UTC