Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), an innovative California-based cannabiotech company, is providing an update on progress with the Company’s previously announced Notice of New Cannabis Product (“NNCP”) filed with Health Canada for its patented Hourglass™ Time Release THC+CBD infused Topical Delivery Cream. Approval of the NNCP by Health Canada will enable Grapefruit to sell its patented Hourglass™ Time Release THC+CBD infused Topical Delivery Cream to licensed retail outlets throughout Canada.

Vancouver-based TAAT Global Alternatives, a manufacturer of hemp-based cigarettes,  recently announced it would acquire HLND Holdings, Inc., the parent entity of a convenience and tobacco wholesaler based in Ohio. This follows an October announcement that the company received $8 million from a group of private investors led by Debbie Chang. Chang is the co-founder of Horizons Ventures, which serves as the venture capital arm of billionaire Hong Kong business magnate Li Ka-shing.

Xebra Brands Ltd. ("Xebra") (CSE: XBRA) (OTCQB: XBRAF) (FSE: 9YC), a cannabis company, is pleased to report on its progress towards having its first cannabis beverage product, Vicious Citrus Lemonade available for sale in Canada. The Xebra team has been actively targeting the three major provinces of Alberta, British Columbia and Ontario with its differentiated product offering.

Canadian cannabis producers Tilray Brands (TSX:TLRY) and Hexo Corp. (TSX:HEXO) are forming a new strategic partnership.

The joint venture will see Tilray take a minority stake in its financially troubled rival Hexo. In a news release, Tilray said it will acquire up to $211 million U.S. of Hexo’s debt, an investment that will give it the right to own 37% of Hexo.

In addition to the debt deal, the two companies said their joint venture will help the companies produce cannabis products such as pre-rolls, beverages and edibles within the next two years while leading to $50 million in cost efficiencies.

Aurora Cannabis (NASDAQ: ACB) and Canopy Growth (NASDAQ: CGC) are two of the top cannabis companies in Canada. But both businesses have struggled in recent years in growing their operations and staying out of the red.

In their most recent quarterly results, the two companies appeared to be moving in different directions. Aurora has been making significant progress in strengthening its bottom line while Canopy Growth remains nowhere near breakeven.

High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that it is taking yet another step to expand its bricks-and-mortar retail cannabis operations, by entering into a definitive agreement (the "Acquisition Agreement") pursuant to which High Tide will acquire four operating retail cannabis stores in Ontario (the "Stores") under the name Crossroads Cannabis ("Crossroads"), for CAD$2.5 Million (the "Transaction"). The Stores are located in Stratford, Woodstock, Hanover and Markdale. The Stratford store is located in a retail plaza anchored by a national discount grocery chain.

Cronos Group planning a ‘phased reduction and transition of activities,’ which should see the plant close completely by the end of 2022

A major cannabis grower in Clearview Township will be closing its doors later this year.

According to an investor update posted on their website on March 1, Cronos Group announced they will be closing their Peace Naturals campus in Stayner in 2022.

“Extensive analysis went into this decision,” said Cronos Group’s Chief Executive Officer Kurt Schmidt in a conference call with investors on Tuesday.

“We know this is the right decision to ensure Cronos’ long-term growth.”

“We have always maintained that cultivation would shift to large-scale agricultural specialists as the industry matures,” he said.

A bright future lies ahead for these pot stocks.

Cannabis stocks might be having a hard time now due to the lack of positive movement toward U.S. federal legalization. But states have understood the benefits of legalization. So as long as states continue to push toward legalizing marijuana at the medical and/or recreational level, cannabis companies will keep growing.

The industry is loaded with sizzling stocks that are performing staggeringly well amid a limited legal market. If there is more state legalization in 2022, this will create room for these companies to expand. Most cannabis stocks are available at a bargain rate now, but in my opinion, these three are the right ones to buy and hold for another decade. 

The Locations in Kelowna, BC and Napanee, ON Mark the 17th store opening under the Kiaro and Hemisphere brand

Kiaro Holdings Corp. ("Kiaro" or the "Company") (TSXV: KO) (OTC: KIARF), a national omni-channel cannabis retailer and wholesale distributor, is pleased to announce the opening of it's new store located at 89 Jim Kimmett Boulevard in Napanee, Ontario (the "Napanee Store"). With the addition of the recently announced Kelowna Store and now the Napanee Store, the Company now has a retail footprint of 17 locations under the Kiaro and Hemisphere banners across Canada, which accompany its wholesale distribution business in Saskatchewan and multi-jurisdictional e-commerce business.