Kaitlin Domangue, Author at Green Market Report

Kaitlin DomangueKaitlin DomangueJanuary 16, 2020


It’s time for your Daily Hit of cannabis financial news for January 16th, 2020. 

On the Site

Halo Buying Outer Galactic Chocolates, Makes Progress in Africa

Halo Labs Inc. (NEO: HALO)(OTCQX: AGEEF) has exercised its Mendo Distribution and Transportation’s (MDT) option to purchase Outer Galactic Chocolates, which is a holder of a Type N manufacturing license. MDT was recently acquired by Halo through a merger on January 9, 2020. The acquisition will give Halo a license to produce infused and edible cannabis products adjacent to the MDT facility in Ukiah, California.

The company also said that Bophelo Bioscience & Wellness has started the certification process required to achieve European Good Agricultural and Collection Practices accreditation for cannabis grown at the Company’s 205-hectare cultivation site at Bophelo in Lesotho, Africa.

High Times To Open Dispensaries

Longtime cannabis print publisher High Times is getting into the dispensary business. The company said that it has signed a binding letter of intent to launch branded retail stores in Las Vegas and Los Angeles. The company did not specify who it had signed the agreements with or the value attached to the agreements. The locations were only described as being in high traffic areas.

The dispensaries are intended to become flagship High Times stores and in addition to selling cannabis products, will also carry High Times branded products. The stores will also feature award winners from the company’s Cannabis Cup events. There are plans to expand beyond the first two locations.

Wikileaf Names New CEO

​​​​​​Wikileaf Technologies Inc. (CNSX: WIKI) founder Dan Nelson will step down as the Chief Executive Officer and become the company’s, Chief Growth Officer. Derek Firth, an early invest and advisor of the company, has been appointed as the CEO of the Company. Wikileaf is a price comparison platform for recreational and medicinal cannabis consumers. 

Caliva Opens “DELI” Retail Location and Delivery Service Throughout Los Angeles

Caliva has officially announced the opening of its new cannabis retail concept store, DELI,  in Bellflower, CA, officially marking the brand’s expansion into the Los Angeles area. The store resembles a traditional deli, with a friendly vibe designed to evoke the nostalgia of great customer service in a trusted neighborhood environment. Upon arrival, customers take a number and are seated at the deli counter, where budtenders talk through their freshest product assortment. “The DELI store concept is all about catering to the well-versed cannabis consumer who knows what they like. Customers learn about daily deals and fresh new items that are added regularly to the assortment,” said Elizabeth Cooksey, SVP of retail at Caliva.

In Other News

Aleafia Health Announces Launch of Cannabis-Infused Sublingual Strips

The award-winning cannabis-infused sublingual strips by Kin Slips are currently produced and sold under license exclusively in California. However, a Canadian company, Aleafia Health, has recently reached a definitive licensing agreement with Kinstate, Inc. to bring the brand to the cannabis market in Canada. The Company expects to provide products to consumers in Canada during Q2 2020. 

Cannabis Legalization Bill Filed After Governor Puts The Issue on 2020 Agenda

The bill introduced by Sen. Jerry Ortiz y Pino (D) and Rep. Javier Martinez (D) would allow adults in the state to purchase and possess cannabis from licensed retailers. “Having worked towards cannabis legalization in New Mexico for the better part of the last decade, we are excited by the possibility for New Mexico to become the 12th state in the country to legalize and regulate cannabis,” Emily Kaltenbach, New Mexico state director for the Drug Policy Alliance (DPA), said in a press release. “Senator Ortiz y Pino and Representative Martinez’s legislation puts local communities and New Mexican families first.”


Kaitlin DomangueKaitlin DomangueJanuary 15, 2020


It’s time for your Daily Hit of cannabis financial news. 

On the Site 

Organigram Adjusts To Canadian Slow Roll

Canadian-based cannabis company Organigram Holdings Inc. (NASDAQ:OGI) reported that its first-quarter 2020 revenue rose by 102% over last year to $25.15 million, which beat analyst estimates by $10.24 million. Last year the company reported $12.4 million for the first quarter of 2019. The earnings per share reported by Organigram were flat, but that also beat the estimates by two cents. The company also stated that it had a total target production capacity of 89,000 kilos per year, it was going forward at a slower pace. The company said that it has $34 million in cash and short-term investments and still has $30 million in available capacity on a term loan, which remains undrawn. 

Curaleaf Upsizes Loan Facility To $300 Million, Makes Progress in Utah

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) said that it has upsized and closed a Senior Secured Term Loan Facility from a syndicate of lenders totaling $300 million. The notes for Curaleaf will bear interest at a rate of 13.0% per annum, payable quarterly in arrears, with a maturity 48 months from closing. The company said that the proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes.

Florida Issues New Rules On CBD

Last week, the office of Nikki Fried, the Florida Commissioner of Agriculture and Consumer Services, took control of CBD products consumed by people. Fried, a Democrat, made cannabis and its regulation a vital part of her 2018 campaign. During the 2019 legislative session, lawmakers put the Florida office in charge of creating the regulations associated with hemp, along with CBD products, sold at gas stations, grocery stores, and flea markets. Those selling CBD have 30 to 45 days to comply with the law and must pay Fried’s department a fee of $650.

Carlos Santana Launches Cannabis Brand

Ten-time Grammy-winning and three-time Latin Grammy-winning guitarist and longtime cannabis advocate Carlos Santana announced his partnership with Left Coast Ventures to develop premium cannabis and hemp CBD brands. Influenced by his Latin heritage, these lines will provide consumers with high-quality products designed to leverage the power of historical remedies and allow consumers to discover and follow their light. “Cannabis is a window or a door to different awareness of consciousness,” said Carlos Santana. “It gives you the choice to perceive through a different filter of awakening and healing, the misperception of distance as an illusion, which keeps you from being centered in your essence-core. It helps you arrive at knowing, accepting and owning a quality of life that is being with joy!”

Impeachment Could Mean A Biden Win in Iowa

Four of the remaining presidential candidates and a few frontrunners, Senators Bernie Sanders, Elizabeth Warren, Michael Bennet, and Amy Klobuchar, will not be able to campaign and participate in the Iowa Caucus or the New Hampshire and South Carolina primaries because they will be sitting in their seats listening to arguments on abuse of power and obstruction of Congress. While all those races could be cause for concern, we truly need to just look at Iowa to determine the possible fate of cannabis.  Iowa has been a strong indicator of who will be the Democratic nominee and it will be impacted by the upcoming hearing. Biden is by far the worst possible nominee for the cannabis movement because of his involvement with the war on drugs. 

In Other News

Cultivar Holdings Announces CSE Listing and Gives Update on AI-Powered Impairment Detection Tools for Sobriety Testing

The Canadian company is developing a tool powered by artificial intelligence for cannabis and alcohol for both workplaces and law enforcement. It is expected to see major growth in 2020 and beyond. PredictMedix uses facial and voice recognition to identify both cannabis and alcohol impairment, removing human error. Toronto-based Cultivar Holdings Inc. (CSE:CULT) announces its common shares have been listed on the Canadian Securities Exchange.

Tsunami and GT Flowers Unite at High Times Cannabis Cup 

The two joined to take home a prize in four areas, 1st Place Best Indica Concentrates, 1st Place Best Sativa Concentrates, 2nd Place Best Hybrid Concentrates, and 3rd Place Vape Cartridges. “The great showing at the High Times Cup validates the hard work, creativity and care Green Therapeutics uses when approaching the cultivation and extraction processes,” said Dr. Duke Fu, CEO of Green Therapeutics, LLC. “We are proud to have been successful in the manufacturing and creation of differentiated products that bring joy to our customers.”

Dixie Brands on Track to Join Oklahoma’s Rapidly Growing Market this Month

By the end of 2020, Dixie Brands, leading cannabis brand, is set to launch its initial branded product into Oklahoma’s market. It will be followed by a full portfolio launch, including Dixie’s pioneering CBD brand AcesoHemp, in February 2020. “We are excited to be bringing Dixie’s unparalleled portfolio of THC & CBD-infused brands to 200,000 medical patients in the dynamic Oklahoma market,” said Chuck Smith, President, and CEO, Dixie Brands. “The fact that we are able to bring product to market within 60 days of announcing our licensed manufacturing partner is a testament to the agility and expertise the Dixie Brands team has developed over a decade in business.”


Kaitlin DomangueKaitlin DomangueJanuary 9, 2020


Its time for your Daily Hit of cannabis financial news. 

On the Site

Dixie Brands Says Michigan Market A High Point For Sales

Dixie Brands Inc. (CSE: DIXI.U) (OTCQX: DXBRF) said that it closed out the Michigan market in 2019 on a high note. By entering a packaging and supply agreement with Choice Labs, Dixie grew its sales by 108% and increased dispensary penetration by 33% in the fourth quarter. Chuck Smith, President and CEO of Dixie Brands Inc., said “Expanding into the great state of Michigan was a priority for Dixie in 2019 and the incredible results we have managed to achieve so quickly are a testament to the strength of our brands and the expertise of both our production and commercial teams. And this is only the beginning! With the approval of recreational use, we expect the market to grow exponentially and Dixie’s portfolio is well-positioned to expand on its market-leading position into 2020 and beyond.”

SOL Globals’ CannCure To Go Public Through Reverse Merger

SOL Global Investments Corp.’s  (CSE: SOL) (OTCPK: SOLCF) CannCure Investments Inc. will be going public through a reverse merger with  Goldstream Minerals Inc. (NEX: GSX.H). The companies entered into a letter of intent dated January 8, 2020, outlining the proposed terms and conditions.  Goldstream will buy a 100% interest in CannCure and then do a reverse takeover by the shareholders of CannCure. The deal is expected to close on or near March 31, 2020. 

In Other News

KushCo Holdings

KushCo Holdings, Inc. (KSHB) reported financial results for its fiscal first quarter ended November 30, 2019. Net revenue increased 38% from the prior-year quarter to $35.0 million. The net loss was approximately $12.5 million, compared to approximately $8.6 million in the prior-year period. Basic and diluted loss per share was $0.12 compared to $0.11 in the prior-year period. On a Non-GAAP basis, excluding the impact of certain non-recurring charges and gains, net loss for the quarter was $9.2 million and net loss per share was $0.09.

KushCo reiterates its net revenue guidance for fiscal 2020 to be between $230 million and $250 million. The Company also reiterates that included in this financial guidance is its expectation that net revenue from its hemp trading business will exceed $25 million for fiscal 2020. KushCo also reiterates its expectation to achieve positive adjusted EBITDA on a quarterly basis in the second half of fiscal 2020.

Trulieve Set to Open New Storefront in Northwest Florida

Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) a leading cannabis company based in the United States, is on track to open their Fort Walton Beach storefront on January 10th. The location will be their 43rd in Florida and their 45th nationwide. “Trulieve is focused on creating a strong customer-centric experience, and that starts with ensuring that patients across Florida have access to the medications they’ve come to rely on. Expanding our reach inside the Florida Panhandle is just one of the ways we’re doing that. Our well-trained staff is ready and willing to assist patients during every step of the process, from exploring medical cannabis for the first time to transitioning into a new treatment process.”, says Trulieve CEO Kim Rivers. Patients can find THC and CBD products in Trulieve’s stores, in a variety of consumption methods. The store will host a grand opening event on January 10th. 

Halo Announces Closed Acquisition of Mendo Distribution and Transportation

Halo Labs Inc., acquired Mendo Distribution and Transportation for $4.95 million. The deal is set to be paid for using Halo’s common shares. The transaction is expected to increase revenue and gross margins across all Californian operations, extend distribution capability in Northern California, launch new edible and white label product lines with Type N license onsite, and reduce overall distribution costs and potentially manufacturing & distribution tax rates.

Kaitlin DomangueKaitlin DomangueJanuary 8, 2020


A multi-state cannabis operator, Justice Grown, was recently awarded five total licenses across two states. The company was awarded two licenses in Utah and three in Missouri. The recent approval of these licenses brings Justice Grown’s operations to a total of seven states. In addition to Missouri and Utah, the company operates in Illinois, California, Pennsylvania, New Jersey, and Massachusetts. 

The competition for aspiring commercial cannabis cultivators in Missouri was fierce. With almost 600 applicants and only 60 spots, hundreds of groups were out thousands of dollars and the countless hours that were put into their applications. The Missouri Department of Health and Senior Services has already been sued by Sarcoxie Nurseries, who felt the ruling on approved cannabis cultivation facilities was unjust. In Utah, the competition for “medical cannabis pharmacies”, as Utah calls dispensaries, was even tougher with only 14 total licenses awarded, and a maximum of two licenses per company. Justice Grown’s pharmacies will be in Salt Lake City and St. George, Utah. 

In addition to Justice Grown’s rapid operations expansion, Darin Carpenter, former Director of Operations for Tryke Companies was recently brought on as the Chief Executive Officer of Justice Grown. Carpenter says, “We are ecstatic and honored to hear that we have been selected as recipients of licenses for Missouri and Utah’s medical cannabis programs. We could not have done this without the tireless work from our business development team. We look forward to serving the great people of these two states.”

Both Utah and Missouri passed medicinal cannabis into law in 2018. Patients in Utah say that they have struggled to find doctors that will recommend cannabis for medicinal use. Some going to as many as five doctors to get a recommendation. Though some have been recommended by physicians for medicinal use, Utah says they will not be accepting applications to the state for medical patient cards until March of 2020. In Missouri, that is not the case. According to a Missouri cannabis publication, Greenway, 26,511 people have already been approved for patient cards in Missouri as of December 30th, 2019. 

Justice Grown has a few blurbs on the About Us page of their website, explaining the company’s mission. They include “providing safe, legal access to cannabis products, implementing sustainable farming methodologies while never using synthetic pesticides, and working to undo the damage done by cannabis prohibition through action and charitable giving.”

The company has two dispensaries already operating in Pennsylvania, and are on track to open another dispensary and a cultivation facility in the state in 2020. The company is set to open its first recreational dispensary in Santa Rosa, California, as well as expanding and improving its cultivation operation in the state. Currently under construction is a New Jersey cultivation operation, as well as the state’s first Justice Grown dispensary. Illinois is also expecting a cultivation facility from Justice Grown in 2020. 


Kaitlin DomangueKaitlin DomangueJanuary 2, 2020


The highly anticipated adult-use cannabis program in Illinois rolled out yesterday morning. The maximum amount of dispensaries allowed in the state for 2020 is 185, though only 43 licenses were approved at the time of the state’s new industry launch. Six of these approved licenses were not able to begin sales on the 1st for various reasons. 

The open dispensaries hosted a huge turnout for those hoping to be among the first to purchase recreational cannabis products in Illinois. Chicago based Cresco Labs expected as such and rented out an entire nearby coffee shop for patrons to take shelter from the cold while they wait. Among one of the first to purchase was Julia Stratton, lieutenant governor of Illinois. She told the Chicago Tribune she purchased gummies at the Sunnyside dispensary in Chicago.

Cannabis giant, Green Thumb Industries opened a store called Rise Joliet in Illinois. Rise Joliet brings GTI’s total store count to 40 nationwide. Founder and CEO Ben Kovler says, “January 1 was a historic day in Illinois as adult-use cannabis sales launched in Illinois, and we’re honored that Rise Joliet is part of that history. Our stores that sell to all adults 21+ – Rise Mundelein, Rise Canton, Rise Joliet, and 3C Joliet – have served thousands of people so far and the energy and enthusiasm from new customers has been overwhelming.”

Cresco Labs announced that they served 3,145 people at its five Sunnyside Dispensaries located in Lakeview, Elmwood Park, Champaign, Buffalo Grove and Rockford, Illinois on the first of the year. They sold 9,258 cannabis products, including Cresco’s house of brands and items from other Illinois suppliers, with the average ticket price being $135.

Though Illinois voted yes to this program with great enthusiasm, many are not impressed with the taxes. This receipt a customer shared from yesterday’s rollout shows the high taxes in Illinois on adult-use cannabis. There were seven different taxes on this purchase, the medical standard tax, local sales tax, local excise tax, Illinois sales tax, Illinois recreational tax on a product with less than 25% THC, Illinois recreational tax on an infused product, and Illinois recreational tax on a product with greater than 35%. The total tax on this purchase added up to $75.85. 

There is also concern that the state is putting profits above its citizens who are medical cardholders. Illinois medical marijuana program launched in 2014. Illinois had one of the strictest medical cannabis laws in the state, but until the adult-use cannabis program patients usually had no problems obtaining their medicine. 

Darren Miller, cannabis advocate, patient, and entrepreneur credits his life to cannabis. He was denied his medicine two days before the rollout of the adult-use program. The dispensary where he has purchased his medicine for years without issue, claimed low supply when he went to purchase it. On January 1st, thousands of folks got their recreational product without issue. Miller says, “They went from about 50 kinds of cannabis flower to three overnight. Then the recreational thing starts and all of a sudden they have no problem finding product to sell for major money markup. All of the patients who have been going there for four years, we actually saw this coming. We called it, and now we are witnessing it.”

The adult-use market in Illinois has been projected by Marijuana Business Daily to potentially generate up to $2.5 billion annually, depending on how many tourists take part in purchasing cannabis products. 


Kaitlin DomangueKaitlin DomangueDecember 23, 2019


The world of e-sports has long been a space where competitors can come together and share their passion for video games. It allows gamers to showcase their talent, make some friends, and maybe even some cash. The “pothead gamer” stigma has been around just as long. We see gamers lighting up a joint in the movies, enthralled with their games while a cloud of smoke surrounds them. According to many gamers, cannabis helps them to focus and do better in their competitions. It is only right that the cannabis industry cashes in on it. 

SOL Global

SOL Global Investments Corp. (OTC: SOLCF), a cannabis investment firm in the United States, has invested into Canadian e-sports company, Torque. As of September of 2019, SOL Global had 12,444,448 convertible debenture units in Torque valued at $7,466,668. Torque Esports offers gaming content production, data, esports events, and hardware. Its popular racing games, Gear.Club and F1 Mobile have seen more than 23 million downloads since their launch. SOL Global recently sold some of its common shares of Torque, but still owns 317,123 common shares, representing approximately 9.0% of the issued and outstanding Common Shares


HelloMD, a digital cannabis education platform, recently announced its launch of Daily Bonfire. Daily Bonfire is the industry’s first cannabis gaming app, and it is hosted by cannabis comedians, including the star of Netflix’s “Cooking on High,” Ngaio Bealum. The app allows users the chance to win a very-fitting cash prize of $420 per live game, as well as helping to fight the war on drugs and support regulated retailers throughout the country. Players can choose to donate a portion of the earnings to one of three cannabis non-profits” ACLU, NORML, or MAPS. The trivia game features a round of 12 multiple choice questions about different cannabis topics, with each question successfully answered sending players to the next round. 

Daily Bonfire’s host says, “I hella look forward to hosting Daily Bonfire each week,” says local I get to encourage consumers to get lit and profit and learn compelling facts about cannabis. Who knew that it was the first product ever sold over the internet in 1971… between MIT and Stanford computer science students? Weed makes you smarter. It’s science.” Merry Jane recently named Daily Bonfire as one of the “Top 5 Cannabis Brands to Dominate 2020.”

Merry Jane

Even prominent cannabis advocates are putting their hands in the mix. Snoop Dogg recently launched his own esports league, Gangsta Gaming League (GGL). It was founded in partnership with Merry Jane, and the league explicitly stated that it “will most definitely allow the use of cannabis.” The GGL began live sports action earlier this year and announced a new season would be starting up again in 2020.

Kaitlin DomangueKaitlin DomangueDecember 19, 2019


Its time for your Daily Hit of cannabis financial news for December 19th, 2019. 

On the Site

CuraLeaf Says 2019 Was Great, 2020 Will Be Even Better

Debra Borchardt at Green Market Report sat down with Curaleaf’s CEO Joe Lusardi at MJBizCon in Las Vegas last week. There were talks of Curaleafs acquisition with Select, a premium cannabis product company known for their vapes, the cannabis market in Illinois and other states, and Curaleaf’s 2020 hopes. Lusardi says that he “thinks it’s also important to know that the Select brand is not just the vape brand, it’s a family of products.”, and we will be seeing gummies, tinctures, sprays, and more from Select. He says that Illinois is the next big market, and he knows by looking at the state’s numbers. The CEO touched on Massachusett’s market not living up to 2019 expectations, but thinks 2020 will be a good year for the state. Curaleaf just opened their first adult-use store in the state in November. Lusardi says 2020 will be a fantastic year for Curaleaf. “We’re opening stores, we’re executing on our business. We’re turning all of the investment we’ve made into cash-generating assets. So this is the best year in our company history. I mean, it was really a great year, operationally. 2020 sets up to be even better.”

Grateful Dead’s Mickey Hart Launches Hash-infused Pre-roll

Grateful Dead drummer Mickey Hart is expanding his cannabis brand Mind Your Head with the launch of Space Ticket, a 1-gram hash-infused pre-roll. Space Ticket is inspired by the transformation and enlightenment that fans experience at live shows. Mind Your Head Space Ticket is a potent 1-gram hemp leaf wrapped pre-roll featuring Indica-leaning strains Trinity Star and D.O.G. Chem and is infused with an aromatic, artisanal ice-water hash. Mind Your Head was launched earlier this year with its first product offering of Magic Minis, pre-rolled whole-flower joints packaged in a tin adorned with Hart’s celebrated artwork. The brand was founded on the belief that cannabis grown with care can transport minds by inspiring creativity and mindfulness. Mind Your Head operates using sustainable, just and innovative practices.

Trulieve Finds Itself in the Crosshairs

Trulieve Cannabis Corp. (OTC: TCNNF) was being touted as the most promising of cannabis stocks. Its earnings reports put competitors to shame as the company delivered impressive net incomes and others instead struggled with net losses. This week a short-seller report has accused the company of being a fraud and that comes a week after the company faced fire over unwanted texts. The stock tumbled on the news of the Grizzly Report but began to recover as others stepped up to defend the company. The stock fell from a close of $11.91 on Monday to $10.40 on Tuesday but was lately trading at $10.84. The report called out the company for a variety of bad behaviors and questioned the earnings. The summary of the allegations are as follows; Low-quality cultivation facilities that could lead to poor products, accusations that the CEO Kim River’s husband JT Burnette is involved in an FBI probe, accusations that Burnette is Trulieve’s main construction partner, alleges that Trulieve is not being truthful about its lenders and takes out small loans from insiders even as it suggests it has plenty of cash, alleges that Trulieve is marking up the product to portray profitability.

In Other News

Online Cannabis Marketplace Dutchie Secures $15 Million Series A Round

Dutchie, the leading e-commerce platform for cannabis pickup and delivery, closed a $15 million Series A round. The powerhouse team of investors included Led by Gron Ventures, Snoop Dogg’s Casa Verde Capital, Kevin Durant’s and Rich Kleiman’s Thirty Five Ventures, Sinai Ventures, Shutterstock founder and CEO Jon Oringer, DoorDash founders and early executives. Dutchie is an online platform that allows customers to order cannabis products from dispensaries for pickup or delivery. Ross Lipson, CEO and co-founder of Dutchie says “We’re thrilled to have such a great group of investors to help guide us through this next phase of the business. Scaling a company has its share of challenges, especially in an emerging new industry; however, having seasoned investors in our corner who can lend their experience and expertise will help us take Dutchie to the next level.” The company is in a period of extreme growth,  facilitating over $140 million in Annualized GMV with over 450 dispensaries across 18 states now using the platform. This latest round of funding brings the total investment to $18 million. 


Kaitlin DomangueKaitlin DomangueDecember 18, 2019


Its time for your Daily Hit of cannabis financial news for December 18th, 2019.

On the Site

Elixinol Continues To Navigate CBD Labeling Rules

Green Market Report sat down at the 2019 MJBiz Conference with Leif Harrison, the CEO of Elixinol. Debra and Leif discussed the frustrating issues surrounding hemp regulations in the United States. Elixinol figured there would have been more concrete movement at the end of 2019 then there has been in terms of labeling products. Elixinol’s CEO said it can all be boiled down to one question, “Is CBD a dietary supplement or isn’t it?” Debra at Green Market Report mentioned to Leif that companies have been getting warning letters because of the terms that have been used for marketing, and how it seems that it is getting harder and harder to simply describe the products. Leif says, it absolutely is and it is a constant battle to say the right thing, especially when the right thing is changing all of the time. Leif also talked with Debra about Elixinol’s recent rebranding, as well as adding organic products to their already highly-rated product portfolio. Elixinol’s CEO also touched on pulling out of Japan’s market.

Executive Spotlight: Oregrown’s Aviv Hadar

Green Market Report talked to Aviv Hadar, the CEO and co-founder of Oregrown Industries, Inc. He has been in this role for six years and transitioned to cannabis from the tech sector. Before Oregrown, he was attending school at the University of Montana for computer science. He stopped school to found a software company that recently celebrated its 10th year in existence.

Oregrown is a farm-to-table cannabis company based in Oregon. They use organic methods to produce high-quality products. Oregrown is the first, exclusive Oregon producer for PAX Era. The company also crafts several of the state’s premier dispensary products including their own lines of Oregrown flower, extracts, and concentrates. Oregrown’s flagship dispensary located in downtown Bend, Oregon has won several awards including Best Budtender (2019), Best Place to Work (2017), Bend’s Best Place to Visit for First Dispensary Experience (2016), and Bend’s Best Dispensary five years in a row (2015-2019). They consider their best achievements to be winning Best Dispensary for five years in a row in downtown Bend, being voted the best place to work for two years in a row, and voted startup of the year by Bend Chamber of Commerce. The company has raised capital and plans to do so as well in the future. The company’s most important five-year goal? Aviv Hadar says it simply, “growth and profitability. If the perfect M&A transaction emerges, to take the ride.”

GrowGeneration Buys Oregon’s GrowWorld

GrowGeneration Corp. (NASDAQ: GRWG) has purchased the assets of Portland, Oregon-based GrowWorld for an undisclosed amount. GrowWorld was founded in 2011 and is the largest retail and warehouse garden space by square footage in the state. In addition to that, it has the highest sales volume of a hydroponic store in Portland and the highest revenue in the state.

A GrowGen statement said that “The GrowWorld acquisition is our 8th in 2019, adding an accretive $5.0 Million in revenue to our Company.  GrowWorld is one of the largest hydroponic stores in Oregon and strengthens our position in the Pacific Northwest region, that currently includes our Seattle location. With over 700 commercial cultivation licenses and a strong medical caregiver program, we feel we can capture a large market share of the Oregon hydroponic supply market.”

Leafly Expands Into E-Commerce, Data

Green Market Report sat down with Dave Cotter at Leafly during the recent MJBiz Conference in Las Vegas. Dave talked with Debra about their recent launch of Leafly Market, an e-commerce platform for purchasing the largest selection of CBD products. It has been said that Leafly’s e-commerce expansion was an organic one, because of the education Leafly already provides on different strains and dispensaries. Dave says that the company was “responding to where [their] customers are pulling [them], which is now that I understand or now that I’m educated, I now want to buy something. And so we’re creating a platform that allows them to do so.” The company also recently announced its partnership with the American Marijuana Medical Physician’s Association and their plans to work on a joint curriculum for different doctors.

The Rise of Do-It-Yourself CBD

DIY CBD is thriving. Recipes for products ranging from gummies to facial scrubs and beard wax to candles and personal lubricant jostle for space online. A small 30ml bottle of CBD oil can cost up to $300 depending on the quality and strength per dose, so many are turning to crafting their own products at home. The process in most cases is not overly onerous, although the hemp flower buds must be “decarboxylated” before use, which is an intimidating term that simply refers to the process of putting the hemp buds under low heat (between 225-245 degrees Fahrenheit) for about an hour in order to activate their chemical and pharmacological effects. Afterward, the hemp buds are ready to be used for teas, cocktails, baking, infused into oil, etc. It sounds pretty straightforward, but there is still room for frustrating and costly user error to occur. If a recent study cited by Iris Dorbian in Forbes Magazine is accurate and the CBD market could indeed surpass $20 billion dollars by 2024, there is plenty of room for DIYers and entrepreneurs alike to work for CBD, and make CBD work for them.

In Other News

Akerna to Acquire Canadian Cannabis Software Provider Ample Organics

Akerna, developer of the industry’s first seed to sale enterprise resource planning software technology (MJ Platform), has entered into a definitive agreement with Ample Organics Inc. to acquire all of the issued and outstanding shares of the company. The cash and stock transaction was valued at up to $45 million USD. The possibility of Akerna paying an additional $7.6 million in the form of stock-based deferred consideration may be paid to Ample Organics shareholders, pending specific certain revenue targets are reached by Ample Organics in the 2020 calendar year. Ample Organic’s projected 2020 calendar-year revenue is $8.7 million, reaching projected-cash flow positive in the second quarter. The acquisition multiple on 2020 revenue is 5.2x, assuming the deferred consideration is achieved in full. The purchase is expected to close by the end of Q1 2020.

Green Growth Brands Terminates Its Bid for Moxie

Green Growth Brands announced the termination of its proposed business combination with Moxie, amid the market’s adjustment to the changing macro environment. CEO of Green Growth Brands, Peter Horvath, says, “We are aggressively growing our businesses across America as we drive to become a leading cannabis retailer in the country. While we continue to be open to collaborating with other industry leaders, we need to ensure we are focused on building our operational strengths, maximize our returns and, most importantly, avoiding excessive dilution to our shareholder base.” The company will continue with its powerful growth in multi-state operations and CBD businesses. The MSO business includes a 47 dispensary rollout in three key states.




Kaitlin DomangueKaitlin DomangueDecember 17, 2019


Its time for your Daily Hit of cannabis financial news for December 17th, 2019. 

On the Site

Fire & Flower Revenue Grows As Company Reports Net Income For The Third Quarter

Fire & Flower Holdings Corp.  (TSX: FAF) announced that its third-quarter 2019 revenue increased 443% to $13.7 million for the quarter ending November 2 over last year’s $2.5 million for the same time period. It was also higher sequentially over the 2019 second-quarter total revenue of $11.1 million. The company also delivered a net income of $10.2 million over last year’s net loss of $22.5 million for the same time period. It was just a note, but one of the most important items in the company’s announcement was that it closed the strategic investment with Alimentation Couche-Tard Inc. The company said that the strategic investment would result in Couche-Tard obtaining a controlling interest in Fire & Flower if all securities issued in connection with the strategic investment are converted/exercised in full.

New Jersey Kicks Full Legalization To The Voters In 2020

On Monday, lawmakers in New Jersey’s Senate and Assembly approved a resolution for full legalization in November 2020. The politicians came close in 2019 to writing legislation that would legalize adult-use cannabis, but ultimately failed and were unable to pass any laws. By punting, the voters will now decide whether to legalize cannabis for adults’ use in November 2020. Steve Hawkins, executive director at the Marijuana Policy Project said, “Legalizing, taxing, and regulating marijuana is the cannabis policy New Jersey deserves. It is unacceptable to accept the status quo of prohibition that continues to negatively impact countless lives and communities. I am hopeful that New Jerseyans will vote in favor of adult-use legalization in 2020.”

In Other News

Tilray Announces New Cannabis Products

High Park Holdings Ltd., a wholly-owned subsidiary of Tilray, Inc. introduced its phase two adult-use cannabis products today. The products will launch across Canada in 2020. The line includes edibles and confectionary, beverages, and vape products. High Park is based in Toronto and all of their products are in line with Health Canada’s standards for safety and quality. 

Cansortium Inc. Announces Definitive Plan to Sell Non-Core Operations

Canasortium Inc. announced the signing of separate definitive agreements to sell their non-core operations in Canada and Puerto Rico. The terms of the sales were not disclosed. Canastortium Inc. is based in Florida and operates under the Fluent brand. The company is committed to being the highest quality cannabis company in Florida, focusing on excellence from seed to sale. 

Health Canada Recalls Zenabis CBD Gel Capsules Containing THC

Zenabis released incorrectly labeled cannabis gel capsules under their Namaste brand and they are being recalled by Health Canada. The label indicates the product is “CBD Light gelcaps” but the product contains THC. The label is said to show each pill contains 0.19 mg of THC and 6.13 mg of CBD. Health Canada said the actual values are 2.247 mg of THC and 0 mg of CBD. 


Kaitlin DomangueKaitlin DomangueDecember 16, 2019


Its time for your Daily Hit of cannabis financial news for December 16th, 2019.

On the Site

Valens GroWork Says Revenue Almost Doubles From Last Quarter

Valens GroWorks Corp. (TSXV: VGW) (OTCQX: VGWCF)  gave revenue guidance for the fourth quarter of 2019 in the range of $27 million to $30 million. This is a big jump sequentially for the company as it delivered revenue of $16.5 million in the third quarter of 2019. Valens GroWorks Corp. (TSXV: VGW) (OTCQX: VGWCF)  gave revenue guidance for the fourth quarter of 2019 in the range of $27 million to $30 million. This is a big jump sequentially for the company as it delivered revenue of $16.5 million in the third quarter of 2019. In addition to giving a heads up on the increasing revenue, Valens said it is planning to launch a Normal Course Issue Bid or NCIB for the purchase and cancellation of up to 6,275,204 shares, representing approximately 5.0% of the issued and outstanding Shares, calculated on a non-diluted basis. 

HEXO Reports Decline In Revenue, Rising Expenses

HEXO Corp. (TSX: HEXO)(NYSE: HEXO)  reported its financial results for the first quarter fiscal 2020 ended October 31, 2019, in Canadian dollars. The company reported that the net revenue in the first quarter decreased sequentially to $14.5 million versus $15.4 million in the fourth quarter of 2019. The revenue increased over $5.7 million reported in the first quarter of 2019.

The net loss for the quarter was an eye-popping $62.4 million. The company attributed the increase in loss to “The larger magnitude of the company’s operations, the expanding scale production and sales in the period, and an impairment loss.” Operating expenses increased from $22 million in the first quarter of 2019 to $35.1 million for the first quarter of 2020.

In Other News

Jerry Jones, Dallas Cowboys Owner, Speaks on Cannabis Use

The owner of the NFL’s Dallas Cowboys told CBS Sports that the issue of cannabis use is one that the NFL is evaluating. He says, “It’s also an issue contemporarily we’re excited about being in step with the social and legal scene as it goes forward. And, so, we not only have the interest of competitiveness in mind when it comes to any type of substance, we have the issue of the law and we have the issue of the society focus on it.” While he did not confirm any upcoming changes in the league, his comments are a step forward. Other athletes and prominent figures in sports have shown their support for policy changes regarding cannabis in the NFL and other national sports leagues. 

FSD Pharma

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) announced that Nasdaq has approved its application to have its Class B Subordinate Voting Shares listed on the Nasdaq Capital Market. FSD Pharma expects the Shares to commence trading on Nasdaq in the near future.



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


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