Kaitlin Domangue, Author at Green Market Report

Kaitlin DomangueKaitlin DomangueFebruary 27, 2020
daily_hit004-1280x533.png

5min3460

It’s time for your Daily Hit of cannabis financial news for February 27th, 2020. 

On the Site

Top Selling CBD Products on LeafLink

LeafLink broke down the data of their top-selling products at the request of Hemp Market Report, with the top-selling product being Mary’s Medicinals patch priced at $10. The rest of the list is as follows: 

Most purchased products containing CBD (by order volume)

  • 1:1 CBD:THC Patch, 100 mg – Mary’s Medicinals
  • 1:1 CBD/THC Sour Gummies, Strawberry Lemonade – Wana Brands
  • 10:1 CBD/THC CBD Therapy Assorted Pucks, 200 mg  – CannaPunch

Top categories for products containing CBD 

  • Edibles & Ingestibles 
  • Cartridges 
  • Topicals 

Top-selling brands with products containing CBD 

  • Terrapin Pennsylvania 
  • Wana Brands
  • Mary’s Medicinals

Social Club TV Gives Cannabis Content a Home

Green Market Report was able to talk with Josh Otten of Social Club TV. Social Club TV is a collaboration of RONIN Content Services (CEO Josh Otten) and Cookies (CEO Berner Milan Jr.) This is a cannabis network that will be available for streaming on Apple TV, Amazon Prime, Roku, and Pluto. The network features over 17 series and 300 episodes. 

Innovative Industrial Properties Generates $17 Million in Q4 

Innovative Industrial Properties, Inc. (NYSE: IIPR) reported its earnings from the fourth quarter yesterday, exceeding analysts’ expectations. The quarter ended on December 31st, 2019. 

The cannabis real estate company reported total revenue of approximately $17.7 million in Q4, an astonishing 269% increase from the prior year’s quarter. This is an amazing jump from the companies total revenue of just $4.8 million in Q4 of 2018. 

Vermont Takes Another Step Towards Legalization of Recreational Cannabis

On Wednesday, the Vermont House of Representatives voted in favor (90-54) of a bill that would legalize, regulate, and tax cannabis sales for adults 21 and older. 

According to the Marijuana Policy Project, S. 54 will now be scheduled for a final House vote, which is expected tomorrow. If it passes there, it will return to the Senate, which has already approved a different version of the bill in a 23-5 vote. The House and Senate will have to agree on a final version of the bill before it can proceed to Gov. Phil Scott’s desk.

In Other News

Acreage Holdings Stock Falls Due to Q4 Earnings 

Acreage reported a loss of $50.5 million over the 3-month period of Q4, with revenue coming in at $21.1 million. Despite revenue for the full year reaching $155 million, full-year net loss was US$150.3 million, leading to an 8% drop-off in Acreage stock.


Kaitlin DomangueKaitlin DomangueFebruary 27, 2020
plant2.jpg

3min3801

Innovative Industrial Properties, Inc. (NYSE: IIPR) reported its earnings from the fourth quarter yesterday, exceeding analysts’ expectations. The quarter ended on December 31st, 2019. 

The cannabis real estate company reported total revenue of approximately $17.7 million in Q4, an astonishing 269% increase from the prior year’s quarter. This is an amazing jump from the companies total revenue of just $4.8 million in Q4 of 2018. 

According to IIRP’s report, since October of 2019, the company has acquired 20 properties and executed five lease amendments across various states in the U.S., totaling an aggregate investment of approximately $308.8 million. New tenant relationships include key cannabis players like Cresco Labs and Green Thumb Industries, and the company expanded existing relationships with companies like Trulieve and PharmaCann.

Since the addition of company properties, IIP has grown its portfolio from 11 properties to an impressive 51 properties since January 1st, 2019. The total properties have grown from approximately 1.0 million square feet in nine states, to roughly 3.2 million rentable square feet across 15 states. IIP’s total investment in its property portfolio has increased by 307%, with the aggregate amount going from $167.4 million to $680.7 million. The company acquired multiple properties in Illinois, Pennsylvania, Michigan, and Ohio, with the rest being in California, Colorado, Massachusetts, Arizona, and North Dakota. 

The total net income available to the company’s common share stockholders accumulated a total of $9.6 million for the total, with each diluted share representing $0.78. Adjusted funds from operations totaled $14.3 million, or $1.18 per diluted share. The adjusted funds from operations represented a 293% increase and an increase of 211% from the previous quarter’s earnings, respectively.  

Following the end of the quarter, the company completed an underwritten public offering of 3,412,969 shares of common stock, including the exercise in full of the underwriters’ option to purchase an additional 445,170 shares, resulting in gross proceeds of approximately $250.0 million. IIP also established an “at-the-market” equity offering program, issuing shares of common stock from September until February. According to the company, the net proceeds from that issuance totaled approximately. $184.8 million.

The company paid a quarterly dividend of $1.00 per common share, on January 15th to stockholders, positioning the company at an increase of 186% from the prior year’s quarter. 

Innovative Industrial Properties, Inc. will conduct a conference call and webcast at 10:00 a.m. Pacific Time on Thursday, February 27, 2020, to discuss IIP’s financial results and operations for the fourth quarter. 


Kaitlin DomangueKaitlin DomangueFebruary 26, 2020
daily_hit004-1280x533.png

10min4530

It’s time for your Daily Hit of cannabis financial news for February 26th, 2020. 

On the Site

U.S. Hemp Could Benefit from the Coronavirus

As a major supplier of cut-rate hemp fiber and CBD for the world market, China has proven stiff competition for United States’ suppliers both domestically and internationally. The disruption of that supply chain by the coronavirus outbreak means that U.S. producers could finally gain an advantage in domestic and international markets.

MedMen Reports Revenue Of $44 Million, But A Net Loss Of $96 Million

MedMen Enterprises Inc.  (CSE: MMEN) (OTCQX: MMNFF) delivered its financial results for the second quarter of 2020 ending December 28, 2019. Revenue across MedMen’s operations in California, Nevada, New York, Illinois, and Florida increased to $44.1 million for the quarter, up 50% year-over-year and 11% sequentially. 

The net loss for the quarter was a staggering $96 million versus last year’s $64 million. The loss per share was ($0.09) versus last year’s ($0.23), so some improvement there.

Surviving Legalization 

Green Market report republished a story from Cannabis Law Report, diving into what has happened to the Emerald Triangle, and specifically Humboldt County, since legalization. The article is a response to the article “Cannabis Regulation: The Struggle of Small Farmers,” written by Lance Griffin. The responding article notes that legalization has been a disaster for Humboldt County, but not necessarily for their growers and shifts some of the blame of the financial crisis of Humboldt County since legalization to the Board of Supervisors and the Planning Commission, and pins the greatest responsibility of Humboldt County’s financial disaster on the “cadre of consultants, experts and advisors who took so much money for knowing only a little more than their clients.”

 

Acreage Holdings Reports 2019 Revenue Of $74 Million, Net Loss Of $195 Million

 

Acreage Holdings, Inc. (ACRG-U.CN) (ACRGF) delivered fourth-quarter revenue of $21.1 million and full-year 2019 revenue of $74.1 million, a 101% and 251% increase, respectively, compared to the same periods in 2018.

The net loss was a whopping $65 million versus last year’s $29 million for the same time period. The net loss for the full year was a staggering $195 million versus the fiscal year 2018’s loss of $32 million. 

 

Nevada Publishes List of Cannabis Test Failures

The Nevada Department of Taxation issued a Public Health and Safety Notice Advisory 2020-05 on February 21, 2020, advising consumers and patients to avoid consuming marijuana which was listed in the notice. The affected marijuana failed secondary microbial testing conducted by an independent testing laboratory. The cannabis was tested for yeast and mold, bile-tolerant gram-negative bacteria, coliforms, and Aspergillus. The products were sold at the following dispensaries: 

  • Rise (owned by GTI or Green Thumb Industries)
  • Essence
  • Thrive Cannabis Marketplace
  • MMJ America
  • Fine Cannabis Dispensary
  • Jardin Premium Cannabis Dispensary
  • Curaleaf
  • ShowGrow
  • Blum
  • Nevada Made Marijuana
  • Jenny’s Dispensary
  • Las Vegas ReLeaf
  • Sahara Wellness
  • Top-Notch Health Center
  • Deep Roots Harvest
  • Acres Cannabis
  • The Source
  • Thrive Cannabis Marketplace
  • Exhale
  • Silver Sage
  • The Grove
  • Oasis Cannabis and The Dispensary NV

Products were from various strains and the statement said that there was no reason to believe that the dispensaries or cultivators had any knowledge that the products exceeded allowable limits.

In Other News

3 Sixty Announces Interim CFO

3 Sixty, a Canadian company that works closely with the cannabis industry offering security solutions, has announced Candice Matthews as the interim CFO of the company alongside her current duties as the Director of Finance. 

“The Board and I have full confidence in Ms. Matthews’ ability to lead our finance operations in the short term, and we expect a seamless transition once the new CFO has been recruited in the near future,” said Thomas Gerstenecker, Founder and Chief Executive Officer.

Nutritional High Announces Non-Binding Letter of Intent with Calyx Brands, Inc. 

Nutritional High International Inc, a cannabis oils and edibles company has announced its non-binding letter of intent to sell a controlling interest in Calyx Brands, a cannabis distribution and logistics company based in California. Closing is expected in the second quarter of 2020. 

“Current challenges in the capital markets have been especially acute for distributors, who require working capital to grow their business,” commented Dakota Sullivan, CEO of Calyx. “We see this as an opportunity to combine our distribution reach with our new Partner’s supply chain and flower business to form a powerful, end-to-end brand.”

Harvest One Announces Sale of Non-Core Interest in Burb and Lillooet Property Totaling Proceeds of $2.3 Million

Harvest One Cannabis Inc. has announced its entry into a definitive agreement to sell its interest in Burb Cannabis Corp, a British Columbia based cannabis retailer, along with its interest in the Lillooet, British Columbia based 398-acre site, dubbed the “Lillooet Property.” Harvest One has agreed to sell its 19.9% equity stake in Burb back to the founders of Burb and has forgiven a shareholder loan with a face value of $250,000 in exchange for total cash consideration of $1,512,600. Per the Lillooet Transaction, Harvest One has entered into a contract to sell the Lillooet Property for cash consideration of $770,000. The transaction is scheduled to close on March 31, 2020.

AYR Strategies Q4 Revenue Increases to $32.3 Million 

Vertically-integrated cannabis company AYR Strategies reported a total revenue increase of 75% to $124.2 million compared to $70.9 million, and an Adjusted Gross Profit increased 78% to $63.0 million compared to $35.5 million. 

Enviva Reports Q4 Earnings 

Enviva has announced its Q4 earnings. For the fourth quarter of 2019, the company reported a net income of $0.9 million, adjusted net income of $17.2 million, and adjusted EBITDA of $53.3 million. 

For the full year of 2019, it reported a net loss of $2.9 million, an adjusted net income of $33.4 million, and adjusted EBITDA of $141.3 million. 


Kaitlin DomangueKaitlin DomangueFebruary 24, 2020
legislation.jpg

4min7770

The Trump Administration has proposed the removal of a rider provision protecting state-legal cannabis businesses from the federal government’s interference. 

This comes with the release of his fiscal year 2021 budget plan.

The rider in question specifically states the Justice Department can’t use federal funding to prohibit states or territories “from implementing their own laws that authorize the use, distribution, possession, or cultivation of medical marijuana.”

Removing this provision would leave a lot of room for government interference, potentially destroying many state-legal businesses.

This action comes contrary to many things President Trump has said and expressed in the past. Most famously, declaring that cannabis legalization should be a state issue. What he is pushing now directly negates that previously spoken belief.

“I think it certainly has to be a state—I have not smoked it—it’s got to be a state decision … I do like it, you know, from a medical standpoint … it does do pretty good things,” Trump said on the 2016 campaign trail. “But from the other standpoint, I think that it should be up to the states.”

Donald Trump also previously spoke in favor of the STATES Act, a bipartisan bill that protects legal cannabis states from federal interference.

When asked if he supported the legislation filed by Democratic senator Elizabeth Warren and Republican Senator Cory Gardner, he said “I really do. I support Senator Gardner.” Trump said in 2018. “I know exactly what he’s doing. We’re looking at it. But I probably will end up supporting that, yes.”

To add fuel to the already ablaze fire, President Trump was heard in a leaked audio clip say that he believes smoking cannabis makes you lose IQ points, though experts seem to disagree.

This rider has been renewed every year since 2014, however, it has faced scrutiny in the past, with President Obama asking for it to be removed during his time in office.

Trump is choosing to take it a step further than Obama by stating he could ignore any medical marijuana protections provided by Congress. This was revealed in his large-scale spending legislation released in December.

The President wrote in a signing statement “Division B, section 531 of the Act provides that the Department of Justice may not use any funds made available under this Act to prevent implementation of medical marijuana laws by various States and territories.” Trump continues by saying “My Administration will treat this provision consistent with the President’s constitutional responsibility to faithfully execute the laws of the United States.”

By calling out this rider specifically, Trump is vaguely saying he believes his administration can enforce federal drug laws that interfere with the state’s laws, even though there is a provision saying he can’t.

Trump’s fiscal year 2021 budget also includes a rider that prohibits Washington D.C. from using local tax dollars to regulate the legal sale of cannabis.

Donald Trump has given the cannabis community good reason to believe that he supports them and their cause. These recent actions and statements may prove otherwise.


Kaitlin DomangueKaitlin DomangueFebruary 20, 2020
daily_hit004-1280x533.png

2min4630

It’s time for your Daily Hit of cannabis financial news for February 20th, 2020. 

On the Site 

Sol Global’s CannCure Takes Next Step For Reverse Takeover

SOL Global Investments Corp. (CSE: SOL) (OTCPK: SOLCF) portfolio company CannCure Investments has entered into a definitive business combination agreement with Goldstream Minerals Inc.  The deal was previously announced in January and the companies are planning a reverse takeover of Goldstream by CannCure.

FDA’s CBD Budget Could Increase by $5 Million

President Trump’s proposed budget for fiscal year 2021, should he gain re-election and have the opportunity to present it to Congress, allocates an additional $5 million to the Food and Drug Administration specifically for further regulation and law enforcement pertaining to cannabis and cannabis-derived products. This is the first time that CBD has been mentioned in a federal budget proposal.

In Other News

National Access Cannabis Corp. Changes Name

Canadian cannabis retail giant, National Access Cannabis Corp. (TSXV: META), has announced that its shareholders have approved all resolutions that were put in front of them, including a special resolution to change the company name to Meta Growth Corp.

“Our name change allows us to align our corporate brand with our retail brand, and reflects the Company’s evolution from medicinal to recreational cannabis,” said Mark Goliger, CEO of Meta Growth.

Clever Leaves Launches New Platform 

Multi-national cannabis operator, Clever Leaves, has launched a direct-to-business sales platform called Clever Leaves 360. The platform will offer medical-grade cannabis extracts and finished products for different industries throughout the world like cosmetics, pharma, consumer products, and pets.


Kaitlin DomangueKaitlin DomangueFebruary 19, 2020
daily_hit004-1280x533.png

4min4730

It’s time for your Daily Hit of cannabis financial news for February 19th, 2020. 

On the Site

Cannabis Sustainability: Minimize Wastewater

Drought and water shortages are an expensive reality in some of the best cannabis-growing regions. As a result, water conservation practices help reduce water waste and overall operations costs, particularly for commercial grows.

Use Cannabis? Spotlight on Driving Unimpaired

The article went in-depth on what those who are pulled over with medical cannabis in Florida should do. Drivers must be able to produce a valid medical cannabis card. In other words, don’t leave your card at home. Drivers should also not drive with hemp/CBD without a certificate of analysis in the vehicle as well.

Zenabis to Produce Sparkling Beverages

Zenabis Global Inc. (TSX: ZENA)  announced details of its cannabis derivative product strategy and execution, including entering into an agreement with a Canadian beverage manufacturer to produce a range of cannabis-infused beverages.

The initial launch of cannabis-infused sparkling water beverages under the HYTN brand is listed with all Zenabis’ Provincial counterparties, with strong indicative demand. The first shipment of the initial four flavors of the cannabis-infused sparkling water beverages expected in Q2 2020.

Australis Kills Folium Deal

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) terminated a proposed merger with Folium Equity Holding LLC and Folium Merger Sub, LLC.

Australis had sent warning signs that the company may not move forward with the deal in corporate meeting notes that surfaced on Google. In those notes, Dowty said, “It was concerning with the multiple lawsuits and all of the stuff on social media. After due diligence and getting to know the team at folium, we felt comfortable you know, with where they are going.”

Move Over Impossible Burger, The CBD Burger Is Next On The Menu

Even though the FDA has expressed its displeasure at adding CBD to food, that hasn’t stopped hamburger chains from tossing in some cannabidiol to enhance their burgers.

Carl’s Jr. became the first fast-food chain to sell a CBD burger for one day at one of its franchises in Denver, Colorado. That has sparked Colorado-based Illegal Burger to offer what it calls its biggest differentiator, “its exclusive line of CBD products.”

In Other News

TILT Holdings Revamps C-Suite

TILT Holdings has appointed interim CEO Mark Scatterday as the permanent CEO of the company. Tim Condor has been appointed as Chief Operating Officer, adding the title of President, effective immediately.

Tilray Stocks at a Low

Tilray (TLRY) has been one of the worst-performing stocks in the cannabis market in the last year. After their IPO price rising to $300 from $17, their luck ran dry and shares recently hit a low around $15. Estimates from analysts predict Tilray’s stock to fall.


Kaitlin DomangueKaitlin DomangueFebruary 18, 2020
daily_hit004-1280x533.png

4min3570

Its time for your Daily Hit of cannabis financial news for February 18th, 2020. 

On the Site

2020 Top 11 Most Effective Cannabis PR Firms

The cannabis industry is one of the most unique and restricted industries in general, but when it comes to advertising, marketing, and public relations, it stands alone in its capabilities and the landscape in which to operate. Green Market report compiled a list of the 11 most effective companies. The list is as follows: ICR Strategic Communications & Advisory, MATTIO Communications, CMW Media, KCSA Strategic Communications, Rosen Group, GVM Communications, 5W Public Relations, Grasslands Agency, Nison Co, Coppertop Media Relations, Lola Red.

Constellation Brands Executive Joins Napa Valley House of Saka

House of Saka, a Napa Valley-based company that makes an alcohol free infused beverage (it can’t be described as an infused wine) has hired Sue Bachorski as its Chief Operating and Financial Officer. Bachorski is a wine and spirits veteran who previously spent nearly three decades as a Senior Operations and Finance Executive at Constellation Brands, Inc. (NYSE: STZ).

At House of Saka, she will oversee operations, logistics, and finance for the company’s Saka Vinfusions as it continues to expand its portfolio of products as well as its national footprint. 

Digipath Reports 26% Increase In Revenue

Cannabis testing and analytics firm Digipath, Inc. (OTCQB: DIGP) reported a 26% increase in revenue to $808,930 for the first quarter of 2020 ending December 31, 2019. This is compared to $642,115 in the first quarter of 2019, and gross profit of $403,449, which rose approximately 152% over the comparative quarter in 2019. The company was able to trim its first-quarter net loss to $220,427 versus $462,174 for the same time period in 2018, an improvement of $241,747, or 52%.

House of Hemp: Could Hemp Disrupt the Building Sector?

While hemp has been used as a building material in Europe for more than 30 years, it’s only beginning to gain ground in the U.S.

American entrepreneurs are turning hemp fibers into wood, concrete, and insulation. There are no limits on the scope of this growing green industry. Manufacturers intend to deliver materials to residential, commercial, and industrial builders.

In Other News

GL Brands to Begin Trading on the OTCQB Venture Market

The cannabis consumer packed goods company excitedly announced today that it will begin trading on the OTCQB Venture Market. CEO Carlos Frias comments: “Qualifying for the OTCQB is a benchmark event, pairing increased transparency with increased access to opportunities and partnerships in line with our vision for explosive growth in the rapidly expanding cannabis industry.”


Kaitlin DomangueKaitlin DomangueFebruary 18, 2020
saka_thanksgiving_cocktail_3_50-1280x1920.jpg

6min8570

House of Saka, a Napa Valley-based company that makes an alcohol free infused beverage (it can’t be described as an infused wine) has hired Sue Bachorski as its Chief Operating and Financial Officer. Bachorski is a wine and spirits veteran who previously spent nearly three decades as a Senior Operations and Finance Executive at Constellation Brands, Inc. (NYSE: STZ).

“After spending my career in the alcohol beverage industry, I am eager to bring my knowledge and experience to the cannabis industry – especially in the infused beverage sector,” stated Bachorski. “I am thrilled with the opportunity to join the House of Saka and I am eager to help the company continue to carve out its niche in this exciting space.”

At House of Saka, she will oversee operations, logistics, and finance for the company’s Saka Vinfusions as it continues to expand its portfolio of products as well as its national footprint. As a wine and spirits expert, Bachorski has also worked as an SVP at Global Wine & Spirits, which supported 24 production locations in 5 countries including Supply and Demand Planning, Procurement, Logistics, Warehousing and Distribution, Environmental Health and Safety, Quality and Research and Development.  She also served as SVP & CFO Pacific Wine Partners where she led her teams through multiple acquisitions, business combinations, and organizational re-alignments.

“A talent acquisition such as Sue’s is paramount to delivering on House of Saka’s mission to produce and market the best-selling, most highly-regarded infused beverages in North America,” explained Tracey Mason, co-founder, and CEO for House of Saka, Inc. “We believe this addition to our team will provide the additional know-how and competitive advantage we need to flourish for years to come.”

House of Saka

House of Saka has two beverages at this time, Pink (which looks a lot like a rose type of beverage) and White. The Pink recently won third place in the December Emerald Cup Beverage category, which was the brand’s first entry into a competition. The product uses a nano-emulsion technology in which cannabis oil is broken down into microscopic, water-soluble and self-homogenizing particles, which allows for immediate absorption through the mouth and stomach lining for rapid onset. House of Saka’s experience begins approximately 5 to 15 minutes after consumption, so users get immediate feedback on how to self-dose. The products are only available in California at select dispensaries at this time.

The company also plans a line of infused beauty and wellness products under the banner House of Saka Beauty. The company boasts an all-female leadership team guided by an all-female advisory board with more than 100 years of collective experience in wine, cannabis and luxury branding.

Infused Beverages

According to a recent report on the global cannabis-based ‘alcoholic beverages market,’ this sector, which includes non-alcoholic cannabis-infused beers, wines, and spirits, is expected to grow by 19% or $155 million between 2020 and 2024 making it the fastest-growing segment of the cannabis industry. Constellation Brands was one of the first companies to eye this trend when it made a huge investment in Canopy Growth (NYSE: CGC). However, the investment may have been too big and too soon as Constellation has since written off a large sum of the investment and fired the company’s CEO Bruce Linton.

The writedown of Canopy Growth hasn’t scared away others. Molson Coors Brewing’s Canadian unit formed a joint venture with medical marijuana producer Hydropothecary Corp. to produce a  nonalcoholic cannabis-infused beverage. Breakthru Beverage Group, the alcohol wholesale business co-led by  Blackhawks Chairman Rocky Wirtz, said it would invest $9.2 million in Canadian cannabis producer CannTrust.

Editors Note: Green Market Report’s Co-Founder Cynthia Salarizadeh is a Co-founder of House of Saka and Editor-in-Chief Debra Borchardt is on the Advisory Board.

 


Kaitlin DomangueKaitlin DomangueFebruary 13, 2020
daily_hit004-1280x533.png

4min4400

Its time for your Daily Hit of cannabis financial news for February 13th, 2020. 

On the Site

Meet the Weedy Award Finalists 

The founder and Editor of WeedWeek, Alex Halperin, has created the Weedy Awards, with winners being announced on February 28th in Hollywood. Awards will be presented in categories like best grow, the most socially responsible company, the best delivery company, the best edibles, and the people’s choice cannabis celebrity. 

Aurora Cannabis Stock Slides as Revenue Falls

Canadian-based Aurora Cannabis Inc. (NYSE: ACB) saw its shares falling in early trading after the company said that revenues fell in the second quarter of fiscal 2020 ending December 31, 2019. Aurora reported that its total net revenue reported in Canadian dollars fell 26% sequentially to $56 million in the second quarter from $75 million in the first quarter of 2020. It was higher than the 2018’s second quarter, which delivered net revenue of $54 million.

Neptune Wellness Delivers Solid Quarter as Sales Increase

Neptune Wellness Solutions Inc.  (NASDAQ: NEPT) (TSX: NEPT) announced its financial results for its fiscal third-quarter ending December 31, 2019. Total revenues for Neptune were $9.1 million, a sequential increase of $2.6 million or 41% over the second quarter ended September 30, 2019. This was also an increase of $2.6 million or 40% compared to $6,538 for the three-month period ended December 31, 2018. 

In Other News

SLANG Worldwide Partners with Cali Cannabis Cookie Company 

SLANG Worldwide Inc. (CNSX: SLNG), leading cannabis consumer packaged goods company, has partnered with Cookies, a leading California-based cannabis brand. 

Pursuant to the deal, SLANG will bring Cookies’ products to the Oregon market. 

Cresco Labs Expands C-suite

Cresco Labs will name marketer Greg Butler as its first-ever Chief Commercial Officer. Butler has past supported the brand in a CMO capacity, developing the commercial growth strategy for the brand. He has strong plans to develop Cresco’s market in 2020, as well as promoting diversity and social equity in the cannabis space. 


Kaitlin DomangueKaitlin DomangueFebruary 12, 2020
daily_hit004-1280x533.png

2min3240

Its time for your Daily Hit of cannabis financial news for February 12th, 2020. 

On the Site

Kentucky Hemp Farmer Files For Bankruptcy 

GenCanna Global USA, Inc. filed a petition for voluntary Chapter 11 reorganization with the U.S. Bankruptcy Court in the Eastern District of Kentucky. The filing will allow GenCanna to continue to operate its business without interruption to customers, vendors, partners, and employees while working through a reorganization plan that could include the refinancing of the company’s existing indebtedness, or an alternative restructuring transaction such as a sale.

Despite Layoffs, Cannabis Industry Job Growth Continues to Boom

Companies in the cannabis industry have faced a series of layoffs in 2019 and early 2020. Though many jobs were cut, the industry continues to grow at a rapid pace. Its addition of roughly 30,000 jobs last year qualifies it as the fastest-growing job sector in the United States.  

In Other News

Kentucky Medical Cannabis Bill One Step Closer to Reality

Kentucky’s House committee overwhelmingly approved a bill legalizing medical marijuana in the state. The bill, however, might face a snag in the Senate, where there is less enthusiasm about medical cannabis coming into play in Kentucky. Opponents of the bill claim more research is needed before it can safely pass into law for use.



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 – 15 hours

Israeli Connection Grows $PNAX $SPRWF $FIRE ⁦@TheSupremeFIRE⁩ ⁦@WallandBroad⁩

Back to Top

You have Successfully Subscribed!