💸 The Tape

In a move that’s part beverage coup, part branding bonanza, Canada’s top cannabis company, Organigram Global Inc. (NASDAQ: OGI), has acquired Collective Project Limited (CPL)—a sparkling cannabis beverage startup with artistic flair—for a cool C$6.2 million upfront and a frothy potential of up to C$24 million more in milestone and earnout payments.

The deal marks Organigram’s bold foray into the burgeoning hemp-derived THC beverage market in the U.S., while simultaneously fast-tracking its entry into the cannabis drinks scene at home. And according to CEO Beena Goldenberg, it’s all part of a bigger plan: “This acquisition marks yet another strategic milestone towards Organigram’s global leadership ambitions.” Translation? They want to be the Coca-Cola of cannabis.

Founded by the folks behind Ontario-based Collective Arts, CPL is best known for mixing real fruit juice, punchy THC, and even punchier label art designed by over 2,000 artists worldwide. Now under Organigram’s wing, Collective Project will continue its mission to make weed bubbly, tasty, and surprisingly upscale.

Why beverages, and why now? Chief Strategy Officer Paolo De Luca explained that as more consumers put down the bottle and pick up the bud, cannabis drinks are the new frontier. "Brands that deliver an enjoyable experience without the negative effects of alcohol will be poised to win," he said, already imagining a THC-infused toast to future success.

The U.S. beverage scene is booming, with hemp-derived THC drinks carving out space in major chains like Total Wines and Top Ten Liquors. CPL has already landed shelf space in Minnesota, North Carolina, and beyond, and plans to crack more markets by year’s end. Canada’s beverage market, while still saddled with regulatory hurdles, is eyed as ripe for a breakthrough—especially if on-premise consumption rules are ever relaxed.

Organigram also gains a 5.6% stake in the Canadian cannabis beverage market overnight. The real kicker? They can now bring their proprietary FAST™ nano-emulsion tech to a product line that’s already flavorful, functional, and artist-approved.

The deal structure includes earnout provisions based on U.S. beverage revenue, capped at C$24 million—so there’s skin in the soda game. And while the base price won’t touch Organigram’s Jupiter strategic investment pool, future payouts might, depending on how fizzy things get.

For now, it’s bottoms up at Organigram HQ. With Collective Project on board, they’ve added more than just beverages to their lineup—they’ve added serious buzz.

📈 Dog Walkers.

Canopy Prepays $100M

What’s Going On Here:Canopy Growth just gave its debt a haircut, prepaying $100 million on its senior secured term loan—at a tidy discount of $97.5 million. That savvy move shaves off about $13 million in annual interest and clears the deck of any major debt obligations until 2027. CFO Judy Hong called it a strategic step toward a leaner balance sheet and lower interest costs, and she's not wrong—this prepayment extends the loan's maturity and signals Canopy's intent to tighten up financially while staying competitive in the ever-evolving cannabis space. In a market where every dollar counts, Canopy just bought itself some breathing room—and a little swagger.

Why This Matters: Much of the CGC story has always been leverage and cleaning up the balance sheet. They have been now paying down debt in large tranches for the last couples of years. You love to see it.

Cardiol Announced Corporate Update

Whats Going On Here: Cardiol Therapeutics wrapped up 2024 with serious momentum, positioning itself as a rising star in the fight against heart disease. The company advanced CardiolRx™ into Phase III trials for recurrent pericarditis after impressive Phase II results showed sharp reductions in pain, inflammation, and disease recurrence. Meanwhile, its ARCHER trial for acute myocarditis surpassed enrollment targets, with topline results expected in Q2 2025. Cardiol also made strides in pre-clinical development of CRD-38, a cannabidiol-based therapy targeting heart failure, backed by recent data showing strong cardioprotective effects. Financially, the company closed a $15.5M raise in Q4 and is funded into late 2026, giving it a solid runway to hit key milestones—including progressing MAVERIC enrollment, reporting ARCHER data, and advancing CRD-38 toward clinical trials. In short, 2024 was a pivotal year, and Cardiol's heart is definitely in the right place.

Why This Matters: Cannabis biotech is alive and they are the most interesting story pertaining to the topic since GW Pharma.

🗞️ The News

📺 YouTube

What Will Trump’s New Drug Czar Do About Cannabis Rescheduling? | Trade to Black

What we will cover:

✅ Host Shadd Dales breaks down the big news out of Washington—President Trump’s appointment of Sara Carter as the new drug czar. A former Fox News reporter and investigative journalist, Carter is widely known for her hard-hitting coverage on border security, fentanyl, and the opioid epidemic.

Though she lacks a traditional background in public health, her appointment reflects the Trump administration’s continued focus on enforcement and border control. Trump has praised Carter as a “fighter,” aligning closely with his tough stance on drug policy.

So, what does this mean for the cannabis industry? While Carter isn’t a vocal advocate for legalization, she has shown cautious support for medical marijuana and has even suggested openness to cannabis rescheduling.

If cannabis is moved from Schedule I to Schedule III, it could spark major change—lowering tax burdens and opening the door to broader research and reform.