Venable represented Glass House Group, California's largest cannabis producer, and its affiliates in a merger with Mercer Park Brand Acquisition Corp. in a deal worth more than $1 billion.
The merger makes Glass House the latest cannabis producer to list on Canada's NEO exchange. Pursuant to the terms of the merger, Glass House also will acquire 17 dispensary licenses for cannabis retailer Element 7 in California and purchase a 5.5 million-square-foot greenhouse facility owned by Equilibrium Capital Group in Camarillo, California. The facility will be converted to grow cannabis, helping cement Glass House's position as the state's largest cannabis producer and retailer and the second-largest cannabis producer in the United States. The merger is expected to close later this quarter.
The merger was covered in numerous publications, including this Reuters article.