CULTIVATED: CBD pitch deck — Cannabis and heart health — SPAC hype

Welcome to Cultivated, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.

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Happy Friday everyone,

We've got another quick edition this week as we prep for a slew of cannabis earnings next week. I'll be speaking with execs at Canopy Growth, Green Thumb Industries, Trulieve, Terrascend, and potentially a few others next week — let me know what you'd like to ask them.

Beyond that, we've got a few more great stories in the hopper, so look out for those.

-Jeremy

Here's what we wrote about this week:

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Barbara Goodstein, the founder of CBD startup B Great, shared the pitch deck she's using to raise $2.5 million.

She's closed on $1.5 million in equity financing already, and she's looking to raise another $1 million in convertible notes. She told Business Insider she's brought in $450,000 of that already.

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In a new letter, American Heart Association doctors advised against smoking and vaping cannabis because it could contribute to heart-health problems like heart palpitations and heart attacks.

The doctors said current cannabis users should avoid black-market products and consider using edible or topical cannabis products because they're less likely to cause heart damage.

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SPACs are on the rise, and they have developed an interest in "hype'' sectors: cannabis, space travel, electric cars, and sports gambling.

Some hyped-up companies demonstrate a potential for growth, but remain unprofitable, whereas other hyped-up companies belong to industries that investors generally avoid, like gambling.

But hype is actually a powerful creative force in the longer arc of tech innovation, says one VC, and funding hyped-up ideas can draw in fresh talent and lead to further innovation.

Executive moves

• TerrAscend has appointed Jason Marks as chief legal officer. Marks joins the company after serving as the general counsel of InflaRx N.V., a biotech firm. TerrAscend also $4.

Deals and launches

• Fintech startup Spence Labs $4, a cashless payment app for cannabis dispensaries. The app lets customers pay for cannabis through their mobile phones, and will be rolled out in all Pharmacann dispensaries in the coming months.
• Colorado CBD and hemp processor Mile High Labs $4, led by billionaire Paul Mitchell and Patron founder John Paul DeJoria. Financial terms of the rounds were not disclosed.
• WeedMD is partnering with Mary's Medicinals to $4.

What we're reading

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