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Tyson 2.0, co-founded by Mike Tyson, has successfully closed a $9 million Series A funding round, led by JW Asset Management. The company, which has become a popular cannabis brand across 20 U.S. states and Canada, has sold over 4,000 pounds of cannabis flower. The funds will be instrumental in acquiring celebrity intellectual properties, enhancing marketing, and expanding distribution. Additionally, Nicole Cosby has been appointed as the Chief Legal and Licensing Officer. Tyson 2.0 aims to capitalize on the growing demand for celebrity-backed cannabis products.
TerrAscend Corp. (TRSSF) reported Q1 2022 net sales of $49.7 million, a slight increase from $49.2 million in Q4 2021, but a decrease of 7% year-over-year. Gross profit margin fell to 30.5% from 42.3% in the previous quarter, with adjusted EBITDA dropping to $3.3 million from $11.9 million. The company experienced challenges due to a vape recall in Pennsylvania and increased costs in New Jersey ahead of adult sales. However, it remains optimistic for Q2, expecting improved revenue and margins, supported by strategic acquisitions and market growth.