Jack Smith, Author at Green Market Report

Recent Stories by Jack Smith

Vape pens, a discreet way to let people consume and smoke cannabis, continues to see strong growth in Washington, Colorado, and Oregon, new research shows.

Investment firm Cowen, combined with Headset, which is described as a “leading data provider in the U.S. cannabis industry,” shows that vaping has continued to gain in popularity, outpacing other forms of cannabis consumption.

“Across these three states, vapor is showing notable growth from a category share perspective (averaging 14.7% share),” Cowen analyst Vivien Azer wrote in the investment note. “The growing popularity of vapor looks to be fairly consistent across all three of these geographies, which is similar to the trends that we are seeing for nicotine consumption (where consumers, and in particular younger consumers, are increasingly moving away from combustion).”

Azer added that in markets like Colorado and Washington, vapor share is now at between 13 and 15 percent, up from January 2017. In Nevada, it’s even higher at 18.7 percent, compared to an initial reading of 15.7 percent.

“The distinct trends noted in today’s report around pricing, disruptive form factors and shifting consumer preferences are squarely based on sales data drawn from states representing nearly one-quarter of the total U.S. population residing in jurisdictions that have legalized cannabis for adult-use,” Azer said in a statement, discussing her research.

The findings are significant, as these three states generated more than $2 billion in sales, with Colorado the biggest market at $1.1 billion in 2017. Washington generated approximately $928 million in cannabis sales, while Nevada saw $198 million in sales in the first six months the data was available.

In addition to being popular with consumers, value-added products, which may include vapor pens, as well as other products such as edibles and topicals, could see pricing power, Azer wrote in the note.

“In particular, we see healthier pricing trends for tinctures & sublingual products, topicals and edibles,” Azer wrote. “We believe this better pricing could reflect the appeal that these products have among less sophisticated cannabis consumers.”

Conversely, products that are combustible, have seen a decline in popularity in the aforementioned states. Flower now has a 52.1 percent market share and pre-rolls account for 7.7 percent as of May 2018, but they are ceding market share fast.

“Over time, we would expect to see consumers continue to move away from whole flower purchases as innovative products offer more consumer control and convenience,” Azer wrote in the note.

Azer estimates the U.S. cannabis industry could reach $75 billion in sales by 2030.

Aphria (APHQF) announced that it has entered into an agreement with Clarus Securities to raise $225 million on a “bought deal” basis, as it looks to expand both its production facilities around the world and its state-of-the-art Extraction Centre of Excellence.

The announcement, made Wednesday, will see Aphrais sell 18.9 million shares at a price of C$11.85. The underwriters also have the option to buy an additional 2.8 million shares at the offering price, 30 days from when the offering closes, which is expected to close on or about June 28, 2018, the company said in a statement.

Aphria, which trades on the Toronto Stock Exchange under the ticker “APH.TO,” will also use the proceeds, which could total as much as C$258.7 million if the over-allotment is exercised, for “strategic acquisitions and investments and other industry related transactions, and for general corporate purposes.”

Shares of Aphria jumped more than 5 percent on Wednesday, closing at C$12.79.

The company could look to expand its business presence in Quebec or its hometown of Leamington, Ontario, which it describes as “the greenhouse capital of Canada.” Aphria describes itself as “one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis.”

Aphria makes and markets four different products, according to its website: cannabis capsules, oral solutions, concentrate syringes and THC & CBD vaporizers.

In the U.S., Aphria’s products are available in dispensaries through Liberty Health Sciences. Liberty has 4 dispensaries in Florida and is opening a fifth later this year.

The capital raise comes after some cooling off in the cannabis sector, particularly in Canada. Aphria stock was lately trading at C$12.79, down from its 52-week high of C$24.75 but above its year low of C$4.78.

Investors recently fretted that Canadian Prime Minister Justin Trudeau and his team hinted that recreational use could start in the fall, as opposed to July, as had been previously thought.

Coupled with a later-than-expected start to legalization and regulatory concerns in the U.S., where cannabis is still illegal on the federal level (though 29 states and the District of Columbia have legalized it on some level), a sharp correction was seen across the cannabis sector in the first quarter. The Green Market Report Cannabis Company Index fell 21.9 percent in the first quarter.

The effects of legalized marijuana are being felt far and wide across different sectors of the economy, especially media, as cannabisMD.com has officially launched, aiming to be the destination for consumers to learn about medical marijuana and how to treat particular ailments.

Described as WebMD meeting cannabis and CBD, cannabisMD.com will provide potential patients a plethora of curated and original content, including peer-reviewed research, original video content and more, to give readers the opportunity to make better-informed decisions about medicinal marijuana.

“We created cannabisMD.com to meet the educational needs of the marketplace,” said Rory Millikin, co-founder of cannabisMD.com in a statement. “Though the majority of Americans (61 percent) favor the legalization of cannabis for medicinal use, many of those consumers lack awareness of the ways in which cannabis may address ailments and diseases, and don’t know where to go to find credible information on the plant and its derivatives.”

Up to this point, Millikin added that the cannabis media market has largely consisted of companies that provide reviews, dispensary mapping technology or e-commerce, but little about the scientific information about the plant itself.

“cannabisMD.com has been designed with the patient and caregiver in mind,” Millikin said.

In the U.S., 29 states have legalized some form of marijuana use, making reputable content (such as that from cannabisMD.com and Green Market Report, the publisher of this website), more important than ever. Nine states, including the District of Columbia, allow it to be used for recreational use, though it is still illegal at the federal level.

Canada is expected to legalize marijuana across the entire country sometime this summer. However, recent industry reports have noted that Prime Minister Justin Trudeau and his team could push that back to the fall, as opposed to July, as had been previously thought.

In addition to the aforementioned content that will run on cannabisMD, readers will also see patient testimonials, various patient and clinical forums and content from a “best-in-class medical staff with multiple Ph.D. degrees and experts in biomedicine, psychology and Western medicine.”

Neptune Technologies and Bioresources Inc. (NEPT) announced fourth-quarter results and said revenue declined sharply year-over-year, impacted largely by the sale of its krill oil manufacturing business.

Fourth-quarter revenue came in at $7 million, aided by a rise of 14.9 percent in its Solutions Business. In the prior year, revenue was $11.8 million, though the company noted the year-ago quarter was four months, compared to three months this year.

“During the fourth quarter, we sustained an intense pace of activity in developing the cannabis business opportunity, meeting with potential suppliers and partners while continuing to move forward with the regulatory licensing process,” Neptune’s President and CEO Jim Hamilton said in a statement.

Hamilton added that more than 90 percent of the company’s $5 million capital plan has been committed, to work on areas like sight security, license compliance and carbon dioxide extraction, with the first phase of its commercialization strategy set for later this year.

“Simultaneously, we began work on Phase II and successfully completed solvent lab scale trials,” Hamilton continued. “As a consequence, we are very excited that the Board approved the $4.8 million investment for Phase 2 capacity expansion.”

Shares of Neptune, which trade on both the Toronto Stock Exchange and NASDAQ, finished lower in Tuesday trading. NASDAQ-listed shares fell 0.7 percent to $2.75, giving the company a market cap of just over $218 million.

During the period, the company had a net loss of $4.8 million, compared to a gain of $300,000 in the prior period, and suffered a non-FRS (International Financial Reporting Standards) loss of $4.8 million, compared to an Adjusted EBITDA gain of $900,000 in the prior period, as the company continued to invest in its cannabis business.

Though the results may seem bleak, there were some bright spots for the company, particularly its Solution Business, Hamilton said. It also signed an agreement with Tetra Biopharma for “purified cannabinoid oil-based products targeting pain and inflammation,” the company said in a statement.

“As we move into fiscal 2019, we are keenly focused on executing our strategy to establish Neptune as an innovative health and wellness products company focused on the extraction, purification, and formulation of cannabis oil ingredients and differentiated products to serve customers globally,” Hamilton said.

Quebec-based Neptune, which sells products such as MaxSimil, premium krill oil directly to consumers and is working on a variety of other cannabinoid-based products, received $23.7 million from the sale of its krill manufacturing business, leaving it with $26.7 million in cash at the year-end.

Krill noted that the company’s “healthy cash balance” and its removal from the capital-intensive manufacturing business put it in a good spot for the rest of 2018 into 2019.

“[W]e have the financial strength to fund our cannabis business opportunity through commercialization based on our current timeline of developments,” Hamilton concluded.

Canopy Rivers said it is completing a reverse takeover with AIM2 Ventures and separately said it is raising $60 million ahead of an eventual public listing.

As part of the deal, Canopy will take over AIM2 Ventures, which trades on the TSX Venture Exchange under the ticker symbol “AIMB.P.”

Canopy Rivers, which was formed just over a year ago on April 26, 2017, will use its investment and operating expertise to look for additional opportunities in the cannabis sector, the company said in a statement.

Canopy Rivers is closely aligned with Canopy Growth, which trades on the NYSE under the ticker symbol CGC, is “managed by an experienced team of qualified financial and technical professionals with significant industry experience and relationship networks.”

Voting Rights Protected

According to the company statement, the Canopy Rivers Subordinated Voting Shares and the Canopy Rivers Multiple Voting Shares held by Canopy Growth represent approximately 29.15% of the issued and outstanding Canopy Rivers shares and approximately 88.01% of the votes attached to all of the issued and outstanding Canopy Rivers shares (on a non-diluted basis).

The deal is being structured as a three-part amalgamation, where AIM2 will combine with Canopy to become a new company. Class B shareholders of Canopy will receive one new share in AIM2 subordinated voting shares and Class A shareholders of Canopy will get one new AIM2 Multiple Voting Shares. In addition, the companies said “each Canopy Rivers stock option and each Canopy Rivers warrant will be exchanged for an AIM2 stock option or AIM2 warrant, as applicable, on substantially the same terms and conditions.”

After the deal is completed, AIM2 will be the parent company and then change its name to Canopy Rivers. Canopy Rivers, which was formed just over a year ago and has quickly expanded into investment areas such as licensed producers, late-stage applicants and technology/media platforms, will replace the existing officers and directors.

In addition to the aforementioned investments, Canopy also has investments in branded developers and has made investments in a variety of securities, including equity, debt, royalty and profit sharing agreements, the companies noted in the statement.

It’s expected that the new board of directors for the combined company will be Canopy Growth’s Bruce Linton (CEO), Eddie Lucarelli (the new CFO and formerly of TD Securities), Olivier Dufourmantelle (COO) and several others. The entire list can be found here.

The deal is subject to conditions, including the parties entering into an agreement on or before July 15. It’s also subject to other conditions, including shareholder and regulatory approval.

Trading AIM2 shares will be halted until the deal has been reviewed by the TSXV and it’s not expected they will resume trading after the deal is closed.

Additionally, Canopy said it entered into a deal with CIBC Capital Markets and GMP Securities to sell $60 million worth of itself in a private placement.

The offering is expected to close on July 5, 2018.

Golden Leaf Holdings said first-quarter revenue soared, thanks to its 2017 acquisition of Chalice Farms and highlighted the progress it’s making in expanding its cannabis operations in California.

Golden Leaf, which trades on the Canadian Stock Exchange under the “GLH” ticker and is traded over-the-counter in the U.S., said revenue jumped 42 percent year-over-year to $3.2 million for the period ending March 31, 2018. It also generated $353,000 in gross profit, up from $238,000 in the year-ago quarter. The company said gross margins included a one-time charge of $377,000 for a write-off of obsolete packaging inventory.

Net income was a gain of 2 cents per share, compared to a loss of 2 cents per share in the first-quarter of 2017. However, the company said that it benefited from a $12.4 million benefit due to favorable changes in the fair value of its warrant and debt liabilities.

Golden Leaf’s CEO William Simpson called out the Chalice Farms acquisition, which took place in July 2017 in prepared marks, noting it’s opened more locations since the deal closed.

“Subsequent to quarter-end, we opened our seventh overall retail dispensary, and sixth Chalice Farms location, located in Happy Valley, Oregon, which has exceeded our expectations and is already our second highest selling Chalice location after just a few weeks since opening,” Simpson said.

He continued: “Our retail operations are a key component of our growth strategy and we are pleased to see our increased brand recognition among customers further entrench our position as a leading retailer in Oregon. We will continue to strategically invest in our retail strategy, adding stores in optimal locations.”

Golden Leaf also called out its new Fruit Chews edible line, which was launched in March in Oregon. The chews come in four flavors (Tangerine, Tropical Fruit, Kiwi Strawberry and Acai Berry) and are designed to “bring more variety to the Golden brand of products and aim to deliver delicious tasting edibles that are vegan-friendly, gluten-free and soy-free for the health-conscious, non-smoking cannabis consumer.”

At the end of the quarter, Golden Leaf had $22.1 million in cash, aided by a CAD $17.5 million private placement in January.

During the quarter, Golden Leaf also added Craig Eastwood as its CFO. Eastwood’s hire, along with raising the $17.5 million CAD, were “instrumental in fortifying the financial management side of the business, which underpins our growth initiatives,” Simpson added.

For the rest of 2018, Simpson said that Golden Leaf’s growth initiatives include building out its retail presence in Nevada and California, both of which have legalized cannabis for recreational use. Golden Leaf also wants to establish a franchise model for its Chalice Farms acquisition in the western part of the U.S. and Canada.

Simpson concluded by saying that the company is “making great strides” building the company that will allow it to take advantage of opportunities that presented to it in the future.

“We are pleased with the progress we have made laying the foundation for our entry into new geographies, across both our retail and cultivation operations,and look forward to continuing to drive revenue growth throughout 2018,” Simpson said.

BDS Analytics has issued a new report on the public attitude towards marijuana in Colorado and there has been a strong movement towards more positive perception, as the state continues to embrace its cannabis culture.

The study, which was conducted from Jan. 16, 2018-Feb. 13, 2018 and ensured all participants were 21 or older, noted there has been “a substantial increase” in Colorado adults consuming marijuana, compared to the first-quarter of 2017. The researchers also found that adults were more open to exploring cannabis in different forms, though they did have prior cannabis experience or were open to using it in the future.

Colorado continues to be among the few states with legalized marijuana for recreational use and it’s clear its residents are taking advantage of that. The state saw a 12 percent increase in dollar sales year-over-year from the first-quarter of 2017 to the first quarter of 2018, according to retail sales that BDS tracks.

Among those who are consuming, BDS found Colorado’s consumers as skewing slightly older and more likely to be male. The consumers are also more likely to see it as medicine, consider themselves “connoisseurs” and claim that cannabis is part of their everyday routine.

There’s also been a shift in using it towards health and wellness benefits, especially for pain management and belief.

Here are 9 of the most interesting facts from BDS Analytics’ findings about the Colorado cannabis market.

1. Consumption is going up.

BDS found that 35 percent of Colorado residents consumed marijuana in the first-quarter of this year, as opposed to just 25 percent in the first-quarter of last year.

2. Rejectors are less likely to support it now.

Marijuana became legal to purchase in Colorado in 2014 for anyone over the age of 21 for any purpose, making it the first place in the world to have that distinction. Since then, however, rejectors have become more entrenched in their thinking.

Just 63 percent of rejectors would support legalization now, compared to compared to 80 percent in the first-quarter of 2017. In total, 85 percent of respondents think there should be some form of legal marijuana use. Perhaps not surprisingly, 99 percent of consumers who’ve used marijuana in the past six months think it should be legal in some form.

3. Health benefits.

Sixty-eight percent now believe marijuana has some health benefits, including 68 percent who believe it can relieve pain, 61 percent believe it can help with the side effects of chemotherapy and 55 percent believe minors should use it if okayed by a doctor and with parental consent.

4. Relaxation usage going down.

People who said they were using it for relaxation benefits went down year-over-year. Thirty percent said they were using it for relaxation (things like managing anxiety or stress) in the first-quarter, compared to 34% in the first-quarter of 2017.

5. An evening hit.

Consumption of marijuana is favored mostly in the evening, though the study noted that consumers are partaking in their usage throughout the day.

6. Methods are shifting.

The way people are consuming marijuana is shifting, if just a bit. They continue to prefer inhaling it, but topical use is also growing. 79 percent of consumers inhaled it in the first-quarter of 2018, compared to 67 percent in the first-quarter of 2017.

7. Gummy divine.

For those who prefer to consume it using edibles, gummy candies reign supreme.

Fifty-four percent of respondents say they have consumed gummy candies in the past six months. Forty-nine percent say they have consumed baked goods, 44 percent say they’ve eaten chocolate candy and 36 percent say they’ve eaten hard candy in the past six months.

8. Topical.

Salves are the most preferred way to consume it by topical consumers, but lotions and creams also receive heavy usage. Thirty-four percent say salves or balms are the most preferred way to use it.

However, of those who have applied it topically in the past six months, lotions comes in at 45 percent, creams at 43 percent and salves or balms at 41 percent.

9. Where to buy?

Overwhelmingly, Colorado consumers prefer to purchase their marijuana from a dispensary, at 90 percent, compared to 88 percent in Q1 2017.

A bourbon heir is betting that the legalization of marijuana in Canada will be similar to the end of Prohibition in the U.S. and lead to untold riches.

Ben Kovler is bringing Green Thumb Industries or GTI public in Canada, according to Bloomberg, due in large part to similarities seen between the liquor industry in the 1930s and cannabis today. Speaking with Bloomberg, Kovler said he intends to bring GTI public via a reverse merger with a publicly traded Canadian company. Kovler, whose family invested $5,000 in the distiller group that would eventually become Jim Beam bourbon, is also the shareholder of GTI

According to the company’s website, Kovler founded GTI in 2014 “and has successfully grown it into a national cannabis cultivation and dispensary operator with 26 licenses across five highly-regulated U.S. markets.” Kovler is also the Chief Investment Officer of an investment partnership that allocates capital across a wide range of industries in both public and private companies. The 39-year-old Kovler believes that GTI can emulate liquor industry heavyweights and move beyond selling marijuana into vaporizer products.

“We’re taking the world from moonshine to cocktails,” Kovler told Bloomberg. “People come in complaining that the moonshine burns their throat, and we say, ‘Here, try this rum and Coke.’ We’re seeking to create an authentic relationship with consumers in the same way that alcohol companies do with hard liquor, beer, and wine.”

Kovler told Bloomberg that he and GTI expect to generate more than $70 million in revenue this year, after surpassing $20 million in 2017, as the company now has its products in more than 100 stores across the U.S.

All of GTI’s locations across the U.S. can be found here.

Kovler added that he expects raising capital will be cheaper in Canada than it is in the U.S., after the company raised $45 million in funding this year, largely from U.S.-based investors. The timing comes just shortly after the Canadian cannabis sector has taken a bit of a hit.

Extreme optimism led to investors bidding up cannabis-related stocks in 2017, especially towards the end, but that bubble burst a bit as investors fretted when Canada would legalize cannabis for adult use. Prime Minister Justin Trudeau and his team have hinted that recreational use could start in the fall, as opposed to July, as had been previously thought.

The sharp corrections seen in Canadian cannabis stocks are indicative of the entire cannabis sector in the first quarter. The Green Market Report Cannabis Company Index fell 21.9 percent in the first quarter, as regulatory concerns, especially in the U.S., weighed on investors’ minds.

iAnthus Capital Holdings (ITHUF) said on Monday it received a $50 million investment from private equity firm Gotham Green Partners to help it pay down debt and expand in key areas such as Florida and New York.

iAnthus, which is traded on both the Canadian Stock Exchange and over-the-counter in the U.S., said it will receive $46 million in cash from the investment once fees are paid. $20 million of that will go towards the repayment of a one-year note with interest to VCP Bridge. The rest will be used for the “continued cultivation and dispensary build-outs in New York and Florida markets” and general corporate purchases. After the note is paid, iAnthus said it will have $32 million in cash left on hand.

“Gotham Green Partners is well recognized as a long-term investor and leader within the cannabis investment community, and we are excited to partner with GGP to create value for our shareholders,” said Hadley Ford, CEO of iAnthus in a statement. “As the U.S. cannabis industry continues to grow, we will be well-capitalized and well-positioned to continue the buildout of our existing assets and pursue opportunistic acquisitions to expand our footprint.”

Gotham said iAnthus’ “compelling structure” (it operates in several U.S. states), was part of the reason it invested in the company.

On iAnthus’ website, the company says it owns and operates licensed cultivators, processors, and dispensaries across the U.S., a model which it believes “provides a unique combination of capital and hands-on operating and management expertise to create unparalleled value for its shareholders.” The company has one of only two licenses for Brooklyn, NY.

The management team of iAnthus said the investment is believed to be the largest investment ever made by one investor in a U.S. publicly traded marijuana company.

Julius Kalcevich, CFO of iAnthus, said the Gotham Green team has helped its portfolio companies “accelerate geographic expansion and operational efficiencies,” something iAnthus is looking forward to.

“GGP’s investment enables iAnthus to recapitalize its balance sheet with long-term exchangeable debt and significantly fund its key operations, particularly in New York and Florida,” Kalcevich added in the statement. “We look forward to GGP’s involvement in these activities in the coming quarters.”

The investment is considerably expensive for iAnthus, as it has issued $40 million worth of high-yield three-year notes, which have a 13 percent coupon. The notes are convertible to iAnthus’ stock at $3.08 per share and also include a warrant to purchase 6.67 million shares of iAnthum at $3.60 per share.

In addition to the secured debt issued by iAnthus, it has also issued $10 million worth of units, with each unit comprised of one common share worth $2.57 and a warrant to purchase the stock at $3.86 per share.

U.S.-listed over-the-counter shares closed on Monday at $3.69, the highest level seen since mid-January.

A new report from Moody’s highlights the impact that legalized marijuana could have in the U.S. and Canada and the implications for other recreational substances, such as alcohol could be damning.

Moody’s estimates that marijuana could replace alcohol “on some occasions,” but spirits makers aren’t sitting on their laurels. Beer maker Constellation Brands (NYSE: STZ) purchased a 9.9 percent stake in Canopy Growth, a Canadian cannabis company. Additionally, Scotts Miracle Gro (NYSE: SMG) and leaf tobacco company Alliance One International have both acquired or invested in cannabis-related companies.

In the report, Moody’s notes that the legalization of marijuana could impact tax revenue from alcohol and potentially create “modest downward pressure on the use of pharmaceutical products,” especially those used to treat pain, anxiety, and depression as marijuana would theoretically replace them for treatment.

The negative effect would be felt greater at smaller pharmaceutical companies, particularly those with nascent drug pipelines, Moody’s says.

“Some small, unrated pharmaceutical companies are developing products based on the chemical cannabidiol, with one product advancing to the FDA review stage,” said Michael Levesque, a Moody’s Senior Vice President. “Thus far, large, traditional pharmaceutical companies haven’t invested heavily in cannabidiol, but that could change if smaller drug makers develop a market for these products.”

There is uncertainty about how the U.S. tobacco companies would enter the sector if and when marijuana is legalized at the federal level. Altria (NYSE: MO) and Vector Group (NYSE: VGR) have seen cigarette smoking on the decline for several years and there remain several questions about heated tobacco products and their long-term viability.

Still, the legalization is likely to have some modest positive impact on tax revenue, especially for the areas where it’s already legal.

“For US states and local governments that allow retail sales of marijuana, the related tax revenue is marginally credit positive,” said Grayson Nichols, a Moody’s Vice President-Senior Analyst in a press release. “Even for states with mature industries, such as Colorado, and large states like California expected revenue will remain only a small share of annual general fund revenue, given the limited opportunities for significant market expansion.”

In the U.S., 29 states have legalized some form of marijuana use. Nine states, including the District of Columbia, allow it to be used for recreational use, though it is still illegal at the federal level.

As with the U.S., Moody’s notes its difficult to anticipate how legalization would impact tax revenue in Canadian provinces.

“Given Canadian provinces’ limited experience with legalization, competitive pressures and calls to offset the costs of increased policing, we anticipate limited fiscal gain from legalized marijuana,” observed Michael Yake, a Moody’s Vice President – Senior Credit Officer. “On the other hand, legalization has the potential to reduce judicial burden, boost employment and offer a new revenue stream for First Nations populations. Suffice to say, if passed, the transition to adopting legal cannabis is expected to be complicated in the medium-term.”

That uncertainty has impacted the share price of many Canadian-based cannabis companies, including those in the Green Market Cannabis Index.

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Jack Smith, Author at Green Market Report - Page 2 of 5

Recent Stories by Jack Smith

Vape Pens Continue to See Strong Growth in Key Cannabis States, Research Shows

Aphria Raises $225M to Build ‘Centre of Excellence,’ Expand Production Facilities

CannabisMD.com Launches, Aims to be ‘One-Stop Destination’ For Consumers

Neptune Sees Q4 Revenue Decline as Divestiture Weighs on Results

Canopy Rivers Does Reverse Take-Over, Raises $60M Ahead Public Trading

Golden Leaf Holdings Sees Strong Revenue Growth Thanks to Recent Acquisition

New Report Finds ‘Substantial’ Increase In Marijuana Use In Colorado

Bourbon Heir Says End of ‘Prohibition 2.0’ Will Lead To Cannabis Fortunes

iAnthus Gets $50M Investment To Pay Debt, Expand On East Coast

Moody’s Says Legalized Marijuana Could Put A Dent In Alcohol, Pharmaceutical Businesses

The Daily Hit: December 1, 2023

Hemp-based Food Company Raises C$3 Million, Expands Store Presence

2023 Farm Bill Primer Addresses Proposed Amendments

Recent Stories by Jack Smith

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