Staff, Author at Green Market Report

StaffStaffMarch 26, 2020
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7min1820

DaVinci has been leading the vaporizer market for almost 10 years (the company launched its original vaporizer in 2012). Founder Cortney Smith (Cort) is known for engineering vaporizer devices that set the industry standard, including the newly released When Apple banned vaping apps, his team created the first on-device dosage control in just 3 days, to make sure every user has access to their dosage information. Cort has a vision for clean, responsibly built vaporizer devices that can put the cannabis industry at the forefront of mainstream consumer technology.

Executive Spotlight: Cortney Smith, CEO, and founder, DaVinci

Title: Founder, Inventor, and Chief Executive Officer

Company: DaVinci

Years at current company: Nine; I founded DaVinci in 2011.

Education profile: Graduated from Brigham Young University with a degree in Chinese and International Relations.

Most successful professional accomplishment before cannabis: Before becoming a cannabis entrepreneur, I brought bungee jumping to China in the 1990s. I moved to China as part of my college education, and in 1991 I founded Bungee International, which designed, manufactured and installed large-scale theme park attractions across China. Bungee International became the world’s largest bungee jumping company, with over 2 million jumpers and 70 locations throughout Asia. My passion for extreme sports also led me to produce China’s first X Games event in 1998.

Company Mission: I founded DaVinci with the desire to change the world’s imagination of what is possible for plant-based wellness. Drawing from my history in manufacturing and hardware design, DaVinci’s mission is to innovate cannabis consumer tech while bringing responsible consumption to the forefront.

Company’s most successful achievement: We continue to design and produce new advanced devices that cannabis consumers deserve while tackling the challenges of the vaporizer market. From the 2019 vaping injury outbreak to the Apple App Store ban on vaporizer apps, we’ve weathered quite a few obstacles just in the past year.

Fortunately, our team has built responsibly from the start with clean, medical-grade hardware—and we have the ability to pivot at a moment’s notice. We started 2020 with the launch of the DaVinci IQ2. Our engineers designed an exceptional portable device that works with both flower and concentrates, and has new features that really resonated with cannabis aficionados. To overcome Apple’s app ban, for example, we developed the world’s first Load Your Own & Know Your Dose feature that gives consumers their dosage information right on the device. And the IQ2’s adjustable airflow is another innovation for which we’ve received a lot of positive feedback.

Necessity is the mother of invention. When you’re an inventor, you need to believe that anything is possible with human ingenuity. Without that inventor mindset, you don’t open yourself up to the new solutions that must be created in times of uncertainty. The cannabis companies that will succeed are the companies with a culture of possibility. That’s how you win in a market that faces as many barriers as cannabis does.

Has the company raised any capital (yes or no): No, we have no debt and have always operated as a boot-strapped organization.

Any plans on raising capital in the future? Yes, we will be seeking capital in the future to aid in the expansion of the company.

Most important company 5-year goal: Consumers need quality cannabis brands they can trust. As the leading vaporizer brand, DaVinci has a responsibility to continue our legacy of safety and innovation in everything we do, and that comes from delivering a consistent product experience, whether that’s our debut Classic vaporizer that’s still on the market or a more recent model. Our goal for the next five years is to expand our product offerings while building brand loyalty and trust that we’re already known for. From the IQ2 to other new product categories we have in the works, we’re supporting cannabis consumers and moving the market forward for years to come.


StaffStaffMarch 25, 2020
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6min2070

It’s time for your Daily Hit of cannabis financial news for March 25, 2020.

On The Site

Top Cannabis Legal Firms

In these trying times, it’s always good to have an excellent lawyer on your side. A strong contract goes a long way towards protecting your interests and if you find yourself in a dispute, you certainly want someone who understands your business and can work with cannabis companies.

Green Market Report compiled this list with assistance from the Cannabis Law Report. We separated the list into two categories: cannabis only legal firms and large cannabis divisions within larger firms. We put them in alphabetical order and there is no ranking.

Also, no free legal advice was given to get on this list nor did anyone pay to be included.

EcoWaste

Interview with Arman Zeytounyan, CEO and Co-Founder of EcoWaste in California

The “Beast” in this scenario is cannabis sustainability, and the distinct lack thereof. The market for change is wide open, and here’s the perspective of one man and the vision of one California company who is getting an edge in the sustainability market due to the cannabis waste removal and compliance services they offer.

EcoWaste ensures compliance every step of the way for the security of your cannabis license. EcoWaste provides an exceptional, reliable and proven cannabis waste disposal. EcoWaste believes there’s a better way to conduct cannabis waste management, combining the right knowledge and provide a solution that is effective and embraces the regulations.

Jushi

Multi-state operator Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) said that its dispensaries received the “life-sustaining” business designation in Pennsylvania and the “essential services” designation in Illinois. As a result, the company’s six dispensaries in Pennsylvania, operating under the brand “BEYOND/HELLO,” and its two dispensaries in Illinois, operating under the brand “The Green Solution” (transitioning to BEYOND/HELLO branding later this year), will remain open.

Covid 19

Cannabis dispensaries have been super busy as sales skyrocketed ahead of lengthy lockdowns. With anxiety levels rising, many consumers turned to cannabis to ease their tensions and help make the time stuck inside go by a little easier. For some companies, they have taken extra steps in order to assist in the fight against the virus.

In Other News

MedMen

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) announced the appointment of Errol Schweizer to its board of directors. Mr. Schweizer has over 25 years of experience in the food and cannabis industries, including 15 years at Whole Foods Market, where he held a number of roles within the organization, including Vice President of Grocery. In this role, Mr. Schweizer oversaw merchandising, product assortment, promotional programs and financial performance for over 80 product categories and $5 billion in annual sales. Mr. Schweizer departed Whole Foods Market in 2016 and has been a strategic advisor to several high-growth retailers and brands.

Simultaneous to Mr. Schweizer’s appointment, the Company announces that Jay Brown resigned from the Company’s Board, effective March 24, 2020. Mr. Brown has left the Board in order to focus on other business endeavors and will continue to serve as a strategic advisor to the Company’s management team.

Vertosa

Vertosa announced new product launches in conjunction with four new brand partnerships for spring 2020: the start-up THC sparkling beverage  line Calexo; hemp-CBD infused cold brew coffee from California cannabis brand CalivaCC Wellness’ first ever CBD sensual care products; and a custom development partnership with Resonate Blends.

“Vertosa’s reach has expanded rapidly in the first quarter of 2020 and we’re thrilled to help propel best-in-class infused products from innovative brands such as Calexo, Caliva and CC Wellness to market,” said Vertosa CEO Ben Larson. “Our collaboration with Resonate Blends, a company committed to utilizing cannabinoids to their full wellness potential, is also an important step towards the mainstreaming of cannabis. Thanks to this partnership, we can create a multitude of cannabis products that fit an array of wants and needs.”


StaffStaffMarch 25, 2020
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7min3860

Cannabis dispensaries have been super busy as sales skyrocketed ahead of lengthy lockdowns. With anxiety levels rising, many consumers turned to cannabis to ease their tensions and help make the time stuck inside go by a little easier. For some companies, they have taken extra steps in order to assist in the fight against the virus.

Canopy Growth/Hexo

BNN Bloomberg reported that Canopy Growth (NYSE: CGC) spokesperson Jordan Sinclair said that the company donated “thousands” of gloves, Tyvek suits, and masks sourced from two massive greenhouses in British Columbia that it shut down earlier this month. “We committed our personal protective equipment from our recently shuttered B.C. sites to the front-line medical staff at a local health unit in Victoria,” Sinclair said in an email to BNN Bloomberg. Hexo said it donated 150 N95 facemasks to paramedic services in the Outaouais region in Quebec to “help fill their critical need”, according to a company spokesperson.

CannaCraft

The edible cannabis company CannaCraft said it has converted a portion of their manufacturing space and production capacity to formulate and package individual bottles of hand sanitizer that will be donated to individuals and organizations throughout California.

The company trialed the program last week, creating hundreds of tubes that were distributed to employees and customers. After the successful test run and registering with the FDA, the company procured enough materials to make 40 gallons (or 5,000 1oz. tubes) of hand sanitizer. The hand sanitizer will be donated to non-profits, customers, employees, and essential businesses and will be distributed later this week by Kind House Distribution, the company’s wholly-owned distribution arm.

“We are doing everything we can to protect our employees and our communities by adhering to guidelines and directives from officials and experts. At the same time, we are uniquely positioned to help in other ways because we have manufacturing equipment, scientific expertise, and a statewide distribution network built into our business,” said Jim Hourigan, CannaCraft CEO. “When we started hearing reports of a shortage in hand sanitizer, we knew that we could be of assistance without negatively impacting our employees or our operations.”

The hand sanitizer was formulated by CannaCraft’s head of R&D, Matthew Elmes, Ph.D., and is being packaged and distributed by a limited production team, due to the company’s decision to restrict facility access to essential production and distribution staff only. The teams have been split into smaller groups and are spread throughout CannaCraft’s 70,000 ft2 headquarters to reduce unnecessary interactions. Additionally, CannaCraft has implemented robust health and safety protocols throughout every step of the supply chain process.

Glass House

Glass House Group is donating 1,000 protective gowns to Cottage Hospital, a Santa Barbara hospital, so their healthcare workers can use the disposable protective equipment during the COVID-19 health crisis. The company is also working with its suppliers to find extra masks for frontline healthcare workers, donating 5% of their local product sales from its Santa Barbara dispensary to the food bank to help kids get free nutritious meals while schools are closed and offering all of their workers two weeks of paid leave.

Marrone Bio Innovations

Plant health company Marrone Bio Innovations, Inc.  (NASDAQ: MBII) announced that its Jet-Oxide® 15% post-harvest sanitizer and industrial disinfectant product is now allowed by the U.S. EPA for use against human coronaviruses to sanitize industrial food and agricultural hard surfaces.  The allowed use was based on a study conducted by the EPA with Human Coronavirus Strain 229E (one of the viruses associated with human colds)  on the effectiveness of spreading of diseases on hard surfaces.

The study, conducted at a sanctioned EPA laboratory, met all requirements for 40CFR 160 – yielding a 99.99% reduction of Human Coronavirus Strain 229E. The study was conducted using a dosage of approximately 1300 ppm (0.130%) of the active ingredient with a contact time of 60 seconds at an ambient temperature of 22 degrees Celsius.

Crazy Calm

CBD coffee brand Crazy Calm said that for every online order from now until the end of March, all profits will be donated to Direct Relief. The company said it chose Direct Relief (DirectRelief.org) because it has a long-standing track record, have already helped tremendously and will continue to do so:

“In the U.S., Direct Relief is delivering protective masks – along with exam gloves and isolation gowns – to health care organizations in areas with confirmed COVID-19 cases.”

“In China, Direct Relief has delivered via FedEx more than 30,000 pounds of protective gear — nearly 800,000 N95 and surgical masks, more than 400,000 gloves, and numerous coveralls, face shields, and shoe covers — to frontline health workers.”


StaffStaffMarch 24, 2020
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5min1800

It’s time for your Daily Hit of cannabis financial news for March 24, 2020.

On The Site

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) said it will acquire three Arrow Alternative Care (AAC) dispensaries in the state of Connecticut. AAC operates three out of 18 total stores currently operational in the state. Its first store opened in Hartford in 2014, the second in Milford in 2017, and the Stamford store opened its doors in January 2020.

Curaleaf is already one of four licensed growers in Connecticut and currently operates a 60,000 square foot cultivation facility in Simsbury that provides high-quality cannabis products to over 40,000 patients throughout the state. The acquisition will now allow Curaleaf to be vertically integrated, providing products to the patients directly as well as through existing wholesale channels.

DEA

Late last week, the Drug Enforcement Administration (DEA) and the Department of Justice announced action to further expand opportunities for scientific and medical research on marijuana in the United States.

The Notice of Proposed Rulemaking was filed for public inspection on March 20.  The proposed rule was then published in the Federal Register on Monday, March 23.  The new approach will expand opportunities for marijuana growers who seek to grow marijuana for research purposes and outline the agency’s proposed process for administering the new program, consistent with applicable law.

Leafly

Private cannabis company Leafly laid off 91 employees this week amid the COVID-19 pandemic. Former Leafly editor Ben Adlin announced on Twitter that he had heard Leafly had made the layoffs which were later confirmed by the company. Adlin also noted the company still owed him $6,700. Adlin’s employment was prior to the pandemic layoffs. The company said it would provide one week of severance pay for the laid-off employees and two months of health insurance

In Other News

Charlotte’s Web

Charlotte’s Web announced a definitive agreement to acquire Abacus, where the combined entity is anticipated to represent nearly 35% of U.S. CBD sales withing the Food/Drug/Mass Retail channel.  Under the terms of the Arrangement Agreement, shareholders of Abacus will receive 0.85 of a common share of Charlotte’s Web for each Abacus Share held. The Exchange Ratio implies a price per Abacus Share of C$4.39, representing a premium of 38% based on the 10-day volume-weighted average price of the Abacus Shares on the Canadian Securities Exchange and the 10-day VWAP of the Charlotte’s Web Shares on the Toronto Stock Exchange as of March 20, 2020, for implied total equity consideration of approximately C$99 million.

Elixinol

Elixinol, a global hemp-derived CBD brand, announced it has named Tom Siciliano as the organization’s new CEO Americas effective immediately. Siciliano is charged with leading Elixinol’s refined strategy on hemp-derived CBD in the Americas region.

Siciliano has an extensive background in the cannabis industry. In his most recent role, Siciliano was president of Nutritional High International Inc. a vertically integrated cannabis manufacturing and distribution company with operations in Colorado, Oregon, Washington, Nevada and California. Prior to Nutritional High, Siciliano served as President and Chief Financial Officer for Canna Security America where he turned the company into the second-largest security company within the cannabis industry.


StaffStaffMarch 24, 2020
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3min2000

Shannon Reed is a brand marketer with a decade of experience building global consumer focused brands. She’s worked on some of the largest brands in the world including Samsung, Google, Tinder and Bacardi.

Throughout her career Shannon has focused on marketing based on deep consumer insights, helping to launch first of its kind digital experiences for Google Star Wars as well as Tinder’s Swipe Night.

GMR Executive Spotlight Interview:

Full Name: Shannon Reed

Title: VP of Marketing

Company: Omura 

Years at current company: Less than 1 year

Most successful professional accomplishment before cannabis: I have a deep love of technology and have had the honor of working with some absolutely amazing technology brands delivering first of its kind products with Google, Samsung and Tinder.

Company Mission: At its heart Omura is a technology brand, founded by flower enthusiasts. Omura’s mission is to lead heat-not-burn technology innovation by delivering the cleanest whole flower vaping experience. 

Company’s most successful achievement: Development of our proprietary technology for the entire Omura Platform. We’ve created patented technology for our flower sticks, the method to fill our flower sticks, the filling equipment as well as the heat-not-burn technology within the oven itself.

Has the company raised any capital (yes or no): We’ve successfully raised $5 million in capital in the last year. 

Any plans on raising capital in the future? Yes. 

Most important company 5 year goal: We want to take the Omura platform global and become the go to brand for vaporization of whole flower. This will allow us to create a new category for consumers that focuses on the best way to vaporize whole flower. 


StaffStaffMarch 24, 2020
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3min1690

Late last week, the Drug Enforcement Administration (DEA) and the Department of Justice announced action to further expand opportunities for scientific and medical research on marijuana in the United States.

The Notice of Proposed Rulemaking was filed for public inspection on March 20.  The proposed rule was then published in the Federal Register on Monday, March 23.  The new approach will expand opportunities for marijuana growers who seek to grow marijuana for research purposes and outline the agency’s proposed process for administering the new program, consistent with applicable law.

“The Drug Enforcement Administration continues to support additional research into marijuana and its components, and we believe registering more growers will advance the scientific and medical research already being conducted,” said DEA Acting Administrator Dhillon.  “DEA is making progress to register additional marijuana growers for federally authorized research, and will continue to work with other relevant federal agencies to expedite the necessary next steps.”

This proposed rule will result in additional registered growers and a larger, more diverse variety of marijuana available for research. The new regulations will enable DEA to evaluate each of the 37 pending applications to grow marijuana for research under the applicable legal standard and conform the overall program to relevant laws.

The release of this Notice of Proposed Rulemaking is the latest and most significant action taken to expand the number of registered marijuana growers in the United States and underscores the federal government’s support for scientific and medical research with marijuana and its chemical constituents.

Since the beginning of this Administration, there has been a 58 percent increase in the number of active researchers registered with DEA to conduct research with marijuana, marijuana extracts, and marijuana derivatives – from 377 in January 2017 to 595 in March 2020. At present, more researchers are registered to conduct research on marijuana, marijuana extracts, and marijuana derivatives than on any other schedule I substance in the United States. More than 70 percent of DEA’s total schedule I research registrant population is registered to conduct research on these substances.  To accommodate this growth in research, DEA has increased the annual production quota for marijuana by 575 percent – from 472 kilograms in 2017 to 3,200 kilograms in 2020.


StaffStaffMarch 24, 2020
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4min2680

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) said it will acquire three Arrow Alternative Care (AAC) dispensaries in the state of Connecticut. AAC operates three out of 18 total stores currently operational in the state. Its first store opened in Hartford in 2014, the second in Milford in 2017, and the Stamford store opened its doors in January 2020.

Curaleaf is already one of four licensed growers in Connecticut and currently operates a 60,000 square foot cultivation facility in Simsbury that provides high-quality cannabis products to over 40,000 patients throughout the state. The acquisition will now allow Curaleaf to be vertically integrated, providing products to the patients directly as well as through existing wholesale channels.

“Arrow Alternative Care’s stores are the gold standard of pharmacy-like operations in Connecticut. They have grown a large, dedicated patient base by providing exceptional service and quality products,” said Joe Lusardi, CEO of Curaleaf. “This acquisition will be immediately accretive and provides Curaleaf with vertical integration in Connecticut. We can now bring the knowledge we’ve cultivated through our experience across 15 states to Connecticut’s medical cannabis patients directly.”

Essential Services

The company said that it has received an Essential Services Designation in key markets which will allow the company to continue to meet the needs of its customers. Curaleaf noted that the designation means that like pharmacies and grocery stores, Curaleaf dispensaries provide an essential service to communities and are authorized to remain open during the COVID-19 outbreak.

“The COVID-19 situation is evolving rapidly and we are responding as quickly as possible to ensure we can continue to meet the needs of our customers. We have never been more committed to providing our vital services and products and will continue to do everything we can to fulfill that mission while protecting the wellbeing of our dedicated employees. In these difficult times, we will be hiring employees and working with local organizations to provide job opportunities to those who are out of work,” said Joseph Lusardi, Chief Executive Officer of Curaleaf.

Curaleaf dispensaries will remain open in ArizonaFloridaMaineMarylandMassachusetts (medical only), Nevada (delivery only), New JerseyNew York, and Oregon. Curaleaf said it has adjusted its dispensary schedule to accommodate increased demand and prioritize vulnerable customers, including dedicated hours for seniors. The company is also enforcing social distancing, increasing sanitation and hygiene measures and using technology to minimize contact and increase safety by working to employ curbside delivery, mobile pre-ordering, express pickup, and a waitlist ordering app.

Curaleaf is working to minimize risk to its customers and employees by collaborating closely with local and statement governments, and implementing new procedures, technologies and policies at its dispensaries.


StaffStaffMarch 23, 2020
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6min1730

It’s time for your Daily Hit of financial News for March 23, 2020.

On The Site

Organigram

Canadian-based Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) gave good news and bad news on Monday morning. The company stated that it had received approval from Health Canada for its expansion, but then also said its workforce would be reduced due to Covid-19.

Organigram said it had been carefully monitoring and actively planning for the evolving situation related to COVID-19 and the potential impacts on business. The company noted that not all of the jobs at its Moncton facility can be done remotely and that in order to protect employees it was expecting temporary layoffs. “The Company currently expects that its workforce will be materially reduced as a result of voluntary and company-imposed temporary lay-offs to facilitate adequate social distancing while the COVID-19 situation lasts. This will result in corresponding production and packaging reductions.”  Organigram said it hoped to “reallocate its remaining workforce as needed, utilize inventory already on hand and focus on leveraging its most efficient and automated lines of production.”

Green Growth

Since this story was published on Friday, March 20, 2020, Green Growth Brands informed its laid-off workers that they would get paid. A spokesman for the company said, “At the time of the decision, the company remained uncertain of its ability to fund the payroll for the period ending today, March 20, 2020. As of this writing, I can confirm that such funding has been secured, that payroll has been initiated, and that all associates released will be paid for their time worked.”

The spokesman also confirmed that Horvath resigned voluntarily and would receive no severance pay. According to the company’s Management Information Circular, “If Mr. Horvath had been terminated by the Company without cause or had resigned from the Company for good reason as at June 30, 2019, Mr. Horvath would have been entitled to a payment of $2,550,000.”

Mindbloom

Mental health company Mindbloom provides guided psychedelic therapy treatments using ketamine. The company opened its first location in New York City during the COVID-19 crisis. Mindbloom has quickly pivoted to telemedicine as the demand for its services has risen during the pandemic. Green Market Report was able to speak with Founder Dylan Beynon to discuss the company’s response and its plans for expansion.

In Other News

DEA

The Drug Enforcement Administration (DEA) announced on Friday that it will be taking significant steps to expand marijuana research. “The Drug Enforcement Administration continues to support additional research into marijuana and its components, and we believe registering more growers will advance the scientific and medical research already being conducted,” said DEA Acting Administrator Dhillon.  “DEA is making progress to register additional marijuana growers for federally authorized research, and will continue to work with other relevant federal agencies to expedite the necessary next steps.”

This proposed rule will result in additional registered growers and a larger, more diverse variety of marijuana available for research. The new regulations will enable DEA to evaluate each of the 37 pending applications to grow marijuana for research under the applicable legal standard and conform the overall program to relevant laws.

Inner Spirit

Inner Spirit Holdings Ltd. (CSE:ISH) announced it has appointed Manjit Minhas as a Strategic Advisor to the Board of Directors. During the current COVID-19 pandemic, the Company has been maintaining operations with the majority of its Spiritleaf cannabis retail stores open and working with new customer service processes such as Spiritleaf Select & Collect in place to ensure the safety of employees and customers.

Tetra Bio-Pharma

Tetra Bio-Pharma Inc. (OTCQB:TBPMF)  announced that it has ensured that all of its employees work under conditions that comply with federal and provincial public health recommendations. Additionally, following the completion of its $17.8 M financing in February and early March, the company is in a good position to maintain its drug development programs.

Regulatory activities have not slowed down despite the COVID-19 crisis. These activities are now performed by Tetra’s employees from their home offices. Tetra confirms that it will continue all planned Clinical Trial Applications (CTA), DIN (Drug Identification Number applications), veterinary drug clinical trial applications (Experimental Studies Certificate; ESC) and Pre-Submission meetings in Canada and Investigational New Drug Applications (IND), veterinary IND applications, Pre-IND meetings (PIND) (including Type B and C meetings), Orphan Drug Designation (ODD) applications in the United States. European regulatory activities will also continue.


StaffStaffMarch 20, 2020
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4min3850

CannaVu, the largest curated collection of compliant advertising for Cannabis and CBD marketers, just released its inaugural “CBDscape: State of the North American Hemp/CBD Market,” which is now live at https://cannavu.net/cbdscape

CannaVu’s CBDscape diagrams the relationship between various stakeholders in the Hemp ecosystem, from businesses growing and producing the products to the brands facing the consumers. The CBDscape is modeled off of CannaVu’s CANNAscape conceptual diagram which is the leading document for understanding the Canna-ecosystem.

The CBDscape identifies notable participants including those involved in farming/extraction/wholesale, lead-gen portfolio companies involved in the segment, leading brands, segment leaders in beauty, terpenes, pets, drinks, edibles, as well as the retailers and sites driving near-term sales. More than 150 companies are represented in the first edition. The CANNAscape is available for download at http://CannaVu.net/cbdscape

“Few new product categories have caught consumer interest and acceptance as quickly hemp-based CBD products,” stated Miles Dennison, Chief Executive Officer at CannaVu. “This industry, however, is crowded and most of the brands are too new to generate the types of awareness, preference and buyer connection of a typical consumer packaged goods brand. While there’s certainly a race to capture lower-funnel buyers, the businesses that create brands that transcend the category will ultimately win. And nobody has done that yet.”

CannaVu developed the CBDscape as an internal strategic planning tool, but decided to make it available more broadly, to answer questions from media companies, strategic partners, investors, advertisers and their agencies about the evolving CBD ecosystem. CannaVu uses the information to build advertising packages and attract new premium publishers to its platform. The CBDscape will be updated monthly, with drill-downs planned around regional and rapidly evolving specialty areas.

“To many consumers, ‘CBD’ is the brand, not the companies creating and selling the products,” said Paul Calento, Chief Operating Officer at CannaVu. “That’s dangerous, as a sales-before-brand mindset can create a race to the bottom for new businesses dependent on quick and near-immediate sales. As a result, the CBDscape is likely to change significantly over time, which is why we’re committing to a quarterly update schedule.”


StaffStaffMarch 18, 2020
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4min2940

It’s time for your Daily Hit of cannabis financial news for March 18, 2020.

On The Site

Aleafia Health

Aleafia Health Inc. (TSX: ALEF)(OTC: ALEAF) delivered its financial results for the 2019 fourth quarter and fiscal year with a 22% sequential increase in quarterly net cannabis revenue to $6 million. Aleafia said the increase was primarily due to a $1.0 million jump in cannabis revenue.

For the fiscal year, net revenue was $16.4 million, an increase of 391% over the previous year. The increase was attributed to an $11.0 million increase in net cannabis revenue, along with an increase of $2.0 million in clinic revenue.

The fourth-quarter net loss was $9.8 million versus $1.9 million in the previous quarter. This loss was primarily due to non-cash items including a decline of $8.0 million in unrealized gain on the fair value of biological assets compared to Q3 2019, and a non-cash $3.6 million deferred income tax expense in the quarter.

Cannabis Stocks

The coronavirus has had a big impact on the world’s economy, and even more so on the financial cannabis market. While the S&P Index has seen a 17% drop, various marijuana companies have experienced a drop of 30% and more. Of course, this raises the question of whether it’s a good time to buy cannabis stocks right now, and if there’s any chance of finding a bargain.

In Other News

Wana Brands

Wana Brands has tapped seasoned cannabis marketing pro Joe Hodas to join the Wana C-Suite as Chief Marketing Officer. In this newly created position, Hodas is responsible for overseeing the planning, development and execution of the organization’s marketing and advertising initiatives. He is based in Wana’s Boulder headquarters and reports to CEO Nancy Whiteman.

“I’ve known Joe for many years and have always been impressed with his innate abilities as a marketer, communicator and industry leader. When we saw the right timing to bring Joe into the Wana team, we jumped at the opportunity to have him join us,” Whiteman noted. “With Wana’s international expansion Joe will ensure that our brand and message remain consistent while helping us deliver at the highest level on the potential that every new market expansion provides. The influence of his previous marketing work in the cannabis industry is undeniable.”

CanaFarma

The common shares of CanaFarma Hemp Products Corp., have been approved for listing on the CSE. The symbol is CFNA and trading is expected to begin on March 19.

Core One Labs

Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF) has signed definitive agreements with respect to a CDN$1,500,000 convertible debt facility with Cannabis Growth Opportunity Corporation. In addition to the Debenture and the Warrants, the Company and CGOC also exchanged approximately CDN$2,000,000 worth of each other’s common shares, with the company issuing to CGOC 5,333,333 common shares at an agreed value of $0.375 per share, and CGOC issuing 3,149,606 common shares to the company at an agreed value of $0.635 per share.

 

 

 



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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