Debra Borchardt, Author at Green Market Report

Debra BorchardtDebra BorchardtJune 15, 2018
woman.jpg

4min7620

The ladies of cannabis are crushing it lately. From Tilray naming a woman-led board to these women and their accomplishments.

Dr. Michele Ross was just named to the board of NanoSphere Health Sciences. She has a doctorate in Neuroscience and is the author of Vitamin Weed: A 4-Step Plan To Prevent and Reverse Endocannabinoid Deficiency. In 2013, she founded IMPACT Network, a 501c3 nonprofit dedicated to clinical research, education, and advocacy on cannabis for women’s health.

Dr. Ross has helped patients around the world and she has trained the next generation of cannabis healthcare professionals. She speaks from personal experience as having been diagnosed with fibromyalgia, neuropathy and chronic pelvic pain. Cannabis was the only thing that reduced her symptoms and allowed her to return to work.

Naomi Granger announced this week that her company DOPE CFO now has students in 26 states. Granger is a former “Big 4” accounting professional with over 12 years of experience in both public and industry accounting.

Granger recognized a knowledge gap in the cannabis industry and co-founded DOPE to provide educational tools for accountants and financial professionals to enter the cannabis industry. She coaches CPA’s and other cannabis industry professionals on how to succeed as they deal with laws and regulations that vary from state to state.

Kim Sanchez Rael just launched her line of Azuca CBD edible product in New York last month. Azuca is a fast-acting chef-quality edible food additive that can be used for medical or adult-use consumption. It is a line of cannabis-infused sweeteners and syrups with flavors like almond, ginger, grapefruit, and vanilla. Rael is the CEO of the company and she has teamed with famous NYC chef Ron Silver, the owner of Bubby’s restaurant in Tribeca.

Rael joined the cannabis industry after 20 years of experience in entrepreneurial startups and venture investing experience. Rael has an MBA from Stanford and led the Flywheel investment in MIOX Corp. a water disinfection company whose technology treats water using only salt, water and power to generate a dilute disinfectant on site. She was a co-founder and investor in Qynergy, worked at Intel and served as a legislative aide in the U.S. Senate.


Debra BorchardtDebra BorchardtJune 14, 2018
daily_hit004-3-600x250-1.png

3min770

It’s time for your Daily Hit of cannabis financial news for June 14, 2018.

On The Site

The Green Organic Dutchman

The Green Organic Dutchman Holdings Ltd.  (TSX:TGOD) (TGODF) entered into a strategic partnership with Jamaican cannabis company Epican Medicinals Ltd. According to the company statement, this partnership will add an additional 14,000 kgs, taking TGOD’s total organic funded capacity to 130,000 kgs. In addition to the production agreement, TGOD has also entered into a binding agreement to invest into Epican for a 49.18% stake.  TGOD will also provide Epican access to its financing facilities to support future expansion requirements.

In Other News

Canopy Growth

Canopy Growth (CGC) announced that it plans to release its earnings on June 27 for its fiscal fourth quarter and fiscal year, which ended on March 31. In its press release, Canopy Growth also offered a preview of what to expect from its results. The company stated that it expects revenues to be between 22.5 million and 23 million Canadian dollars for the quarter compared to 14.7 million Canadian dollars a year ago, an increase of 53% to 56%.

Insys Therapeutics

Insys Therapeutics (INSY) jumped over 12% in trading in heavy volume after the biotech company announced positive data from an early-stage trial assessing its epinephrine nasal spray for the treatment of acute allergic reaction (anaphylaxis). It was a relatively small study of 60 people with seasonal allergies, but it showed that the bioavailability of nasally administered epinephrine was similar to Mylan’s (MYL) which is an injection of medicine.

The Hydropothecary Corporation

The Hydropothecary Corporation (TSXV:THCX) announced that the first two zones of its 250,000 sq. ft. greenhouse expansion is now licensed by Health Canada, under the Access to Cannabis for Medical Purposes Regulations (Canada) (the “ACMPR”) which allows the Company to transfer plants in immediately.  This, along with the 1 million sq. ft. expansion set to be complete by year-end, will bring total production capacity up to 1.3 million sq. ft. and will allow Hydropothecary to produce 108,000 kgs of dried cannabis annually.


Debra BorchardtDebra BorchardtJune 14, 2018
jamaica.jpg

3min540

The Green Organic Dutchman Holdings Ltd.  (TSX:TGOD) (TGODF) entered into a strategic partnership with Jamaican cannabis company Epican Medicinals Ltd. According to the company statement, this partnership will add an additional 14,000 kgs, taking TGOD’s total organic funded capacity to 130,000 kgs. In addition to the production agreement, TGOD has also entered into a binding agreement to invest into Epican for a 49.18% stake.  TGOD will also provide Epican access to its financing facilities to support future expansion requirements.

Epican produces high-quality cannabis at its Blue Mountain cultivation site and has partnered with TGOD to construct a second 125,000 sq. ft. GMP compliant facility. Upon receiving the second site license, both facilities will cultivate high premium organic strains for the Jamaican and international markets. TGOD will be working with Eco-Cert to achieve organic certification in Jamaica.

“This represents the first of many strategic partnerships TGOD intends to execute in the coming months,” said Robert Anderson, TGOD CEO. “Our value-added approach taken in this investment will set an international M&A framework for capital investment, transfer of knowledge, and sector expertise. We will continue to evaluate international opportunities that will assist us in executing our business plan to become the world’s largest organic cannabis brand,” continued Anderson.

Epican’s extraction laboratory has been designed, licensed and built to GMP standards, establishing the company as a leader in sustainability with Jamaica’s Cannabis Licensing Authority. The company said that it intends to sell a wide range of products such as dried flower, oils, pre-rolled joints, vapes, tinctures, among others. Epican’s initial offering of 11 scientifically formulated products will allow the company to service medical cannabis patients through its network of retail dispensaries called Herb Houses.

Karibe McKenize, CEO of Epican, stated “We are excited to partner with and benefit from TGOD’s immense knowledge in organic cannabis cultivation. This expertise supports and enhances our authentic Jamaican production and ensures patients receive a product that is completely free from chemical pesticides and synthetic fertilizers. Our partnership with TGOD solidifies our commitment to producing cannabis in the most sustainable and natural methods possible, honoring Jamaica’s historic relationship with the natural and medicinal benefits of the plant.”

 


Debra BorchardtDebra BorchardtJune 13, 2018
daily_hit004-3-600x250-1.png

5min960

It’s time for your Daily Hit of cannabis financial news for June 13, 2018.

On The Site

Green Thumb Industries

Chicago-based cannabis company Green Thumb Industries (GTI) will begin trading on June 13 under the ticker symbol “GTII” on the Canadian Securities Exchange. GTI’s owner VCP23 LLC did a reverse take over (RTO) of Bayswater Uranium Corporation raising C$87 million or $67 million through a private placement.

VCP reported revenue in its filing for the three months ending March 31, 2018, as $10.9 million with a gross profit of $4.8 million and a net loss of $1.5 million. VCP also reported that its total revenue for the year ending December 31, 2017, was $16.5 million with a net loss of $4 million.

Lab Testing

new report from the Alaska Alcohol and Marijuana Control Office and the Department of Environmental Conservation found that labs testing marijuana for potency were delivering very different results.

Different labs using similar methodology should have reported similar results, instead, the results came back and they weren’t even close. For example, the test took a marijuana muffin, cookie crumbs, capsules and dried flower and brought them to the only two testing labs in the state. The results delivered a large margin of error between the two.

In Other News

Farm Bill Passes

The Farm Bill passed with the attached hemp legalization language. According to CNBC, The Senate Agriculture Committee passed the 2018 farm bill in a 20-1 vote despite an attempt to tighten farmer subsidies. Sen. Chuck Grassley, R-Iowa, cast the sole “no” vote, because his amendment to limit subsidy payments wasn’t added to the proposed bill. The farm bill includes hemp legalization legislation that is backed by Senate Majority Leader Mitch McConnell, R-Ky. McConnell made a case during Wednesday’s agriculture panel meeting for supporting the hemp legalization.

22nd Century Group Inc.

22nd Century Group, Inc. (NYSE: XXII) announced that it the Company will be added to the Russell 2000Russell 3000, and Russell Global Indexes when FTSE Russell (Russell) reconstitutes its U.S. and global equity indexes on June 22, 2018. Russell’s preliminary announcement of its annual reconstitution of these Indexes, which includes 22nd Century Group, was posted on the Russell website on Friday, June 8, 2018, after the U.S. stock market closed.

Aurora Cannabis Inc.

Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) announced that it intends to complete a $7 million investment in Choom Holdings Inc.  (CSE:CHOO) (OTCQB: CHOOF), whereby Aurora will receive 9,859,155 common shares from Choom’s treasury, priced at $0.71 per share (the “Transaction”), representing an 8% ownership interest. Choom currently operates two late-stage applicants under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). Choom has agreements in place to acquire two additional late-stage applicant craft growers in BC and Saskatchewan, including a facility in Sooke, British Columbia, anticipated to receive its cultivation license from Health Canada in the third quarter of 2018.

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TGOD.TO) (TGODF) announced that, effective June 13th, the company has secured DTC Eligibility. The Green Organic Dutchman also wishes to announce that it will begin trading on the OTCQX Best Market June 14th under the symbol “TGODF.”


Debra BorchardtDebra BorchardtJune 13, 2018
lab3.jpg

5min1810

A new report from the Alaska Alcohol and Marijuana Control Office and the Department of Environmental Conservation found that labs testing marijuana for potency were delivering very different results.

Different labs using similar methodology should have reported similar results, instead, the results came back and they weren’t even close. For example, the test took a marijuana muffin, cookie crumbs, capsules and dried flower and brought them to the only two testing labs in the state. The results delivered a large margin of error between the two.

The report said “Each of two muffins in three different retail packages were cut in half and submitted as separate samples. One half of each muffin went to CannTest and the other half of each muffin went to Steep Hill for testing and reporting.” The report said that CannTest said it had a strength of 5.2, while the Steep Hill lab said the strength was 11.9. The state apparently can’t even determine which lab is correct and which isn’t.

“We need some type of standardization for the labs,” said Jeff Doughty, CEO of Capital Analysis a company focused on testing in the recreational cannabis market. “Competency isn’t the issue. Plus, we already have accreditation processes. However, there could be improvements in proficiency testing.”

The Dark Side Of Testing

In addition to inaccuracies among labs, Doughty said that another issue is brewing and that is that some companies are actually paying for potency. He called it the dark side of cannabis. He said that cannabis companies are not accounting for test failures in their business models. A rigorous lab may find all kinds of things wrong with a company’s harvest causing the company to have to destroy expensive inventory. The word gets out and then cannabis companies quit going to the “tough” lab, which causes the lab to rethink how its testing cannabis in order to survive.

“Just because they’re scientists doesn’t mean they won’t do this,” said Doughty. “Producers are also learning to take their samples to various labs to get the best results.” As in the example of the testing in Alaska, a producer may choose to stick with the lab where it gets the results it wants.

Doughty is concerned that this is going to create a race to the bottom for labs. “I could see where big players, the kind of size where one customer alone can support an entire lab will get great numbers. Then the smaller competitor that only brings the lab a little business might end up with deflated numbers.”

One way labs have tried to self-correct is that they redefine what is considered a test fail. They still complete the test, but fewer customers are called out for failing

“It’s not an insurmountable problem,” said Doughty. “We just need to use intelligent processes when crafting our regulations.”

Recommendations

The Alaska report recommended 1) a complete assessment of lab operations as a follow-up to that of A2LA. Essential items to cover in this assessment are verifying the implementation of critical parameters (e.g. incubation temperatures and times, calibrations of support equipment), procedures (e.g. laboratory homogenization and sub-sampling protocols), and general adherence to the laboratory SOPs) 2)
accuracy controls (including all applicable positive controls for microbial testing and frequency) must be incorporated into lab activities, and 3) a regulation update that incorporates the framework for regular oversight of the laboratories.


Debra BorchardtDebra BorchardtJune 13, 2018
shutterstock_751259302.jpg

4min1690

Chicago-based cannabis company Green Thumb Industries (GTI) will begin trading on June 13 under the ticker symbol “GTII” on the Canadian Securities Exchange. GTI’s owner VCP23 LLC did a reverse take over (RTO) of Bayswater Uranium Corporation raising C$87 million or $67 million through a private placement.

The bookrunners were GMP Securities and Canaccord Genuity on behalf of a syndicate of agents (including Beacon Securities Limited, Echelon Wealth Partners Inc., and Eight Capital) to complete the brokered financing. Cassels Brock & Blackwell LLP served as counsel to GTI regarding the financing and the listing on the CSE. In connection with the transaction, Bayswater was de-listed from the Toronto Venture Exchange effective June 12, 2018.

“Listing on the CSE provides access to capital to fuel the company’s strategic growth,” said GTI Founder and Chairman Ben Kovler. “But it doesn’t change our focus on capital allocation and execution to optimize shareholder value. We will continue to move the business forward while providing the best possible customer experience.”

VCP reported revenue in its filing for the three months ending March 31, 2018, as $10.9 million with a gross profit of $4.8 million and a net loss of $1.5 million. VCP also reported that its total revenue for the year ending December 31, 2017, was $16.5 million with a net loss of $4 million.

GTI owns and operates seven manufacturing facilities, distributes a well-rounded suite of branded cannabis products, and operates a chain of retail locations in seven highly regulated, limited supply U.S. markets: Illinois, Pennsylvania, Ohio, Massachusetts, Maryland, Florida, and Nevada. The company announced yesterday that it was awarded five dispensary licenses in Ohio and plans to open locations in Cleveland, Toledo, Lorain and two in Lakewood.

“GTI is an experienced dispensary operator with 13 dispensaries currently open and on its way to a 50-store retail chain,” says GTI Ohio, LLC partner Bobby George. “I’m thrilled to be part of the team that will bring quality medical marijuana to Ohio patients, with safety and security among our top priorities.  GTI is excited to soon be a part of these Ohio communities – and it’s especially gratifying for me to have a role in providing access to this medicine for my fellow Ohioans.”

GTI recently opened its 13th RISE dispensary and is on its way to a 50-store retail chain. GTI employs more than 350 people and serves hundreds of thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. GTI’s revenue in 2017 exceeded $20 million and is on track for continued growth in 2018.

“The opportunity to touch the lives of more customers through expanding our brand distribution footprint and the RISE retail experience is extremely rewarding,” says GTI Chief Executive Officer Pete Kadens. “We have the right infrastructure and people in place — and we will work to maximize GTI’s potential for the shareholders who’ve entrusted us with their capital.”

A review of the company’s top executives share ownership and compensation seems reasonable. Founder and Chairman Ben Kovler owns 23.7% of the shares, CEO Pete Kadens owns 12% of the shares making a total compensation of $345k for 2018 and CFO Anthony Georgiadis owns 2.9% of the shares and will earn $300k for 2018.

 


Debra BorchardtDebra BorchardtJune 12, 2018
daily_hit004-3-600x250-1.png

5min810

It’s time for your Daily Hit of cannabis financial news for June 12, 2018.

On The Site

Aurora Cannabis Inc. (ACBFF) has signed a binding term sheet to acquire all the shares of private company Anandia Laboratories Inc. in an all-stock transaction valued at C$115 million. Anandia Labs is led by cannabis expert Jonathan Page, Ph.D., the company’s CEO and Co-founder. Dr. Page was the first scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids and the interplay between cannabinoids and terpenes.

In Other News

GrowGeneration Corp.

GrowGeneration Corp. (GRWG) announced that it has purchased all of the assets of Central Coast Garden and Farm Supply located in Salinas, CA. CCG generated approximately $1.7 Million in revenue in 2017 and will serve as a retail and warehouse location servicing the growing number of commercial cultivators in the Central Coast California market. Central Coast Garden and Farm Supply add the 5th store to the GrowGen portfolio of stores in California.

The Green Organic Dutchman

TGOD’s wholly-owned subsidiary, Medican Organic Inc., received its cultivation license from Health Canada for its breeding facility in Salaberry-de-Valleyfield, Quebec. The plan is to use the Valleyfield facility to engineer and grow proprietary, organic strains of cannabis and cannabis seeds. Valleyfield is turning into a true marijuana campus for TGOD. Once at capacity, the greenhouse will be able to produce 116,000 kilograms (255,736 pounds or 127 tons) of premium cannabis each year.

Aldershot Resources Ltd.

Aldershot Resources Ltd. (ALZ) announced that, as a result of excess institutional demand, the company has increased the size of its previously announced private placement of common shares and units from $20.0 million to $25.0 million. The net proceeds from the Private Placement will be used by the Company to establish and launch a retail cannabis business in Western Canada.  The new management team expects to execute its strategy by capitalizing on its collective experience in the following areas: (i) controlled substance retail market; (ii) an understanding of consumer purchasing habits and provincial demographics from historical data; (iii) leveraging existing relationships with landlords, municipalities and regulators; (iv) expertise tailoring product brands and retail experience; and (v) operational know-how including store sizing, site development, inventory management, staffing, training and cost structure.

GemmaCert

GemmaCert, the innovative company behind the cannabis composition and potency testing “lab-on-a-desk,” today announced the opening of a new funding round, seeking to raise an additional $5-6 million (US) to help the company advance the commercialization of its groundbreaking testing solution and visionary product roadmap. To date, the company has raised just over $3 million (US) including investors from a number of investors, including  European-based NEO Ventures Inc., Beverly Hills-based Applied Biosciences Corp., and Tel Aviv-based Arba Finance Company Ltd.

GemmaCert delivers a unique hybrid testing solution that combines leading-edge near-infrared spectroscopy (NIRS) technology with visual image analysis, extensive data science, and machine learning.  Food and Drug Administration (FDA)-endorsed NIRS is a scientific measurement technique that measures how the near-infrared region of the electromagnetic spectrum is emitted, absorbed, or scattered through a cannabis sample.

 


Debra BorchardtDebra BorchardtJune 12, 2018
lab2.jpg

5min1080

Aurora Cannabis Inc. (ACBFF) has signed a binding term sheet to acquire all the shares of private company Anandia Laboratories Inc. in an all-stock transaction valued at C$115 million.

Anandia Labs is led by cannabis expert Jonathan Page, Ph.D., the company’s CEO and Co-founder. Dr. Page was the first scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids and the interplay between cannabinoids and terpenes.

Anandia’s intellectual property includes the exclusive rights to a number of key genes in the cannabinoid pathway, as well as patents pending for genetic markers. According to a company statement, Anandia’s expert staff, proprietary assets, and know-how will provide Aurora with a very significant advantage in developing new cannabis cultivars. The statement said, “For instance, genome-based variety development and technological fortification can tailor metabolite (cannabinoid and terpene) profiles, improve disease resistance, enhance crop yield and optimize flowering time, and can be employed to develop specialized cultivars for oil production.”

Management Comments

“This is a transformative acquisition that expands our science capabilities in the upstream segment of the seed-to-sale cannabis value chain, significantly boosting plant-based innovations in cultivation, enabling accelerated product development, and, ultimately, enhancing our margin profile going forward,” said Terry Booth , CEO of Aurora. “Anandia has a fantastic, complementary corporate culture and some of the best and brightest minds in the cannabis industry, including Dr. Jonathan Page , the first scientist to sequence the cannabis genome. By adding Dr. Page and the Anandia team to the existing Aurora and CanniMed research infrastructure, we are assembling a unique, world-class research group to capitalize on the many exciting opportunities the cannabis plant offers society.”

Dr. Jonathan Page, Anandia’s co-founder, and CEO added, “Anandia is already on its way to developing a world-leading library of cannabis genetics coupled with in-depth genomic analysis. We expect our breeding efforts to be accelerated through access to Aurora’s financial resources and scientific expertise, as well as through the addition of Aurora’s multiple cultivation sites. Anandia and Aurora are strong believers in research and science-based solutions. Joining forces with Aurora allows us to continue to provide best-in-class testing services to our customers, while rapidly advancing cannabis science for the benefit of patients, consumers and growers.”

Testing To Stay Separate

Anandia’s cannabis testing services will remain operationally independent of Aurora. Anandia said that it will continue to service its customers with regards to testing and that it would maintain data confidentiality. Anandia also said that it will continue to build capacity to take on the increased sample volume arising from legalization, including expansion to its new testing facility in Vancouver. Anandia was named the Top Testing Lab at the 2017 Lift Canadian Cannabis Awards.

Aurora Acquisitions

Aurora has been on an acquisition binge this year. It has signed deals with CanniMed Therapeutics, MedReleaf, BC Northern Lights and has ownership stakes and numerous companies like The Green Organic Dutchman and Hempco.

Aurora Cannabis stock on the Toronto Exchange was lately trading at C$8.92, down from its 52-week high of C$15.20, but above the year’s low of C$2.03. While the acquisitions are believed to be important as the company builds market share, some traders have voiced concerns that the deals have pushed the company’s break-even point far into the next year. This would explain the pressure placed on the stock price.


Debra BorchardtDebra BorchardtJune 11, 2018
daily_hit004-3-600x250-1.png

9min1490

It’s time for your Daily Hit of cannabis financial news for June 11, 2018.

On The Site:

48North

Toronto-based 48North is set to begin trading on Monday on the TSX Venture Exchange with the ticker NRTH. Led by Chief Executive Officer Alison Gordon, this cannabis company is a vertically-integrated house of brands focused on women’s health and wellness.

So far the company has raised $27M between 2014-2016 via non-brokered private placements. $16M was raised in January 2018 via bought deal private placement of units. It is going public transaction by way of three-cornered amalgamation with Kramer Capital Corp., a capital pool company listed on the TSX Venture Exchange.

Tilray

Canadian medical marijuana company Tilray has busted the bro culture in cannabis by naming three accomplished women to the board of directors, making it one of the few woman-led boards in cannabis.

Tilray Inc. announced the appointment of Rebekah Dopp, a Principal in Global Partnerships at Google; Maryscott “Scotty” Greenwood, CEO of the Canadian American Business Council and a Principal at Dentons; and Christine St.Clare, founder of St.Clare Advisors and formerly a Partner at KPMG, to the company’s Board of Directors. Tilray is owned by private equity company Privateer Holdings.

Aurora Cannabis

Aurora Cannabis Inc. (ACBFF)  announced that it signed a cannabis flower and trim supply agreement with Agrima Botanicals Corp. a wholly-owned subsidiary of Ascent Industries Corp. Agrima is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”).

According to a company statement, Agrima will supply Aurora with up to 20,000 kg of dried cannabis flower and up to 6,000 kg of cannabis trim per year from its Canadian cultivation facilities. The deal can last up to five years and is subject to a 12,000 kg per year minimum. Currently, Cannabis Benchmarks lists the spot price of wholesale cannabis at $1,237 per pound. At 2.2 pounds per kilogram, this gives the deal an approximate potential value of $54 million.

In Other News

PRØHBTD

PRØHBTD, the leading cannabis lifestyle media, and brand platform has raised $12 million in funding, $8 million of which was recently secured from a Series A round of investment. In addition to being a lead investor, the Delavaco Group acted as the sole strategic advisor to PRØHBTD. This financing represents the single largest round of funding for a media-related company in the cannabis industry to date and follows an initial $4M of seed funding.

The funding will be used to accelerate the continued production and distribution of PRØHBTD’s slate of original content, make new key hires and deepen the expertise and capabilities across the company through strategic acquisitions, as it continues to help cannabis companies build their businesses and reach global audiences. PRØHBTD will soon announce its plans for a Canadian public offering that will provide investors with an opportunity to participate in the future growth of the cannabis industry’s leading modern media company.

The Green Organic Dutchman

The Green Organic Dutchman Holdings Ltd (TGODF) announced that its wholly-owned subsidiary, Medican Organic Inc. has received its Cultivation License from Health Canada for the company’s breeding facility in Salaberry-de-Valleyfield, Quebec. The commissioning of this facility will allow the Company to create proprietary, organically grown strains of cannabis and cannabis seeds.

Located on a 72-acre property, the breeding building will house the cultivation of cannabis and the production of seeds and new strains. This building marks TGOD’s first facility in Valleyfield, which will be followed by the addition of TGOD’s flagship 820,000 square foot state-of-the-art hybrid grow facility, which, when complete, will bring TGOD’s domestic production to 116,000 kgs of high-quality, premium organic cannabis annually.

Isodiol International

Isodiol International Inc.  (ISOLF) announced unaudited May 2018 consolidated revenue numbers of $3,316,646 CDN. Marcos Agramont, CEO of Isodiol, stated, “May was a historic month for revenues. These numbers legitimize what we have accomplished over the last several months, particularly with the acquisitions of KURE Corp and BSPG Laboratories, Ltd. Shareholders can expect audited financials for the period of April 1, 2017 – March 31, 2018, to be available on July 30th, 2018.”

Rising Biosciences, Inc.

Rising Biosciences, Inc. (RBII) announced that it is currently working with producers and processors in California, Arizona and Ohio to produce its products under licensing agreements with a target for the end of September 2018 for the Company’s first products to hit dispensary shelves.

Rising Biosciences is also pleased to announce that FINRA has approved its name and ticker change and the Company is currently recognized by OTC Markets and otherwise as Rising Biosciences, Inc. under ticker RBII. As well, the Board has voted to move forward with steps to file a registration with the SEC to become a fully reporting company. We are currently identifying legal counsel and auditing firm toward QB while growing operations to meet listing qualifications for one of the major exchanges.

Sugarmade

Sugarmade (SGMD) has now filed its results for the quarter ending September 30, 2018, and is in process of finalizing reports for the quarters ending December 31, 2017, and March 30, 2018. The company said that much of the delay in reporting was caused by personnel augmentations relating to the significant expansion of revenues and operations that are occurring. Sugarmade expects to return the company to fully reporting status over the short term and sees no major issues moving forward relative to timely financial reporting.


Debra BorchardtDebra BorchardtJune 11, 2018
48North.jpg

3min17350

Toronto-based 48North is set to begin trading on Monday on the TSX Venture Exchange with the symbol NRTH. Led by Chief Executive Officer Alison Gordon, this cannabis company is a vertically-integrated house of brands focused on
women’s health and wellness.

So far the company has raised $27M between 2014-2016 via non-brokered private placements. $16M was raised in January 2018 via
bought deal private placement of units. It is going public transaction by way of three-cornered amalgamation with Kramer Capital Corp., a capital pool company listed on the TSX Venture Exchange

“48North is a future-focused company on track to serve the female health and wellness cannabis market with innovative next-generation products and brands,” said CEO Alison Gordon. “As Canada’s first female CEO of a now publicly-traded licensed producer of cannabis, 48North will provide an intrinsic and authoritative view to a valuable demographic that is currently underserved in this industry.”

It is the parent company of DelShen Therapeutics Corp., an ACMPR licensed producer with a 40,000 sq ft state-of-the-art facility in Kirkland Lake, ON with 2,500 kg/yr production capacity. In addition to that, it has 800 acres of owned land with a two-phase expansion
plan for an additional 200,000 sq ft with 40,000 kg/yr production capacity.

“In addition to our market position, we have an exciting and unique strategy that aims to leverage 48North’s cultivation facilities with our expertise in the consumer packaged goods space,” continued Ms. Gordon. “The TSXV was built to facilitate entrepreneurial companies like us and within this reputable and highly regulated environment, our public listing will increase visibility and access to capital, while providing liquidity for our shareholders.”

As of March 31, 2018, 48North has C$14 million in cash, no outstanding debt and approximately 77 million shares outstanding. The company said in a statement that its goal is to have licensed CPG products available in Canadian retail upon legalization of adult recreation in accordance with the Cannabis Act.

While the company stated it is targeting the female market, there was little information as to the products it plans to produce.

 



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 6 hours

RT : Thanks again to for having GreenWave Advisors Founder speak about the Canadian market with @Wa…

@GreenMarketRpt – 3 days

It’s time for your of financial news $TGOD $CGC $INSY $THCX #GMR…

Back to Top