Happy new year’s everyone and welcome to 2019. We hope you had a nice break from work over the holidays and that your batteries are recharged to tackle this new year.
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The acquisition race is already fired up this week with TILT Holdings’ (TILT.CN) plan to acquire Jupiter Research in a deal valued at $210 million. The acquisition is expected to close on January 31. TILT’s goal was to expand its technology ecosystem and B2B reach across the supply chain.
“Our latest acquisition of Jupiter Research is paramount to our goal of consolidating and centralizing services for all industry verticals: cultivation, production, and retail,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Vaporization is increasingly becoming the preferred method for cannabis consumption. With Jupiter’s proprietary inhalation technology, our offerings in this category are going to be unparalleled.” TILT only just began trading last month and also announced that it was acquiring BlackBird in December.
Cannex Capital Holdings reported that its revenue rose 223% to $3 million for the second quarter ending in October. The company also reported net income of almost $700 thousand for the quarter.
The Horizons ETF added three new companies to its portfolio. The new names included Khiron Life Sciences, Auxly, and MediPharm. The ETF has lost 46% of its value since hitting a year’s high in October.
Biome Grow Inc. began trading on the OTC Markets Group this week with the symbol BIOIF. It will also continue trading on the CSE using the symbol BIO.
Xanthic Biopharma has officially changed its name to Green Growth Brands.
Sunniva completed its previously announced acquisition of LYTR Logistics.