Staff, Author at Green Market Report

StaffStaffSeptember 20, 2018
img_mjf.jpg

6min40

Batu Capital Investments, Cresco Capital Partners and existing investors participate in raise for the largest global cannabis tech company

Denver, CO – September 18, 2018/ AxisWire/ MJ Freeway, the company which invented seed-to-sale technology and has the cannabis industry’s first enterprise resource planning product, announced the completion of its $10 million oversubscribed Series C financing. The financing, which will accelerate MJ Freeway’s growth in advanced technological build-outs, centered around increasing new product features for businesses and governments. The round was led by Batu Capital Investments, a tech-focused multi-family office managed by Emery and Evan Huang. Cresco Capital Partners, a private equity investment firm dedicated to investing in the cannabis industry, also participated significantly.

“The industry is maturing rapidly and needs software that can handle increasing complexity, with state-of-the art functionality and data security,” said Jessica Billingsley, Co-Founder & CEO of MJ Freeway. “With adult-use permitted in 9 states and medical in 30 states, MJ Freeway is uniquely enabled to support regulation at every level. Indeed, we are — and have been — the backbone upon which the cannabis industry is built. We thank our new and existing investors for realizing the tremendous importance of our enterprise.”

“MJ Freeway’s technology is vastly superior to other offerings in the marketplace. It supports the full range of cannabis business operations – from cultivation to manufacturing to dispensary – with the industry’s first fully-integrated enterprise resource planning (ERP) product, MJ Platform,” said Emery Huang, Senior Partner of Batu Capital. “We believe MJ Freeway is the market innovator and will maintain its market dominance through a clear technological edge over the competition.”

“Cresco Capital Partners has made significant investments in the cannabis space since 2015, and we believe MJ Freeway is the clear leader in the cannabis supply chain management SaaS market, positioned for dominance,” said Matt Hawkins, Managing Principal at Cresco Capital Partners. “The company’s innovative product line and experienced management team led to our decision to invest in MJ Freeway’s unparalleled tech platform.”

About MJ Freeway

MJ Freeway® is the largest global cannabis technology company having tracked more than $10B in sales with clients in Australia, Canada, Europe, South America, Switzerland, and the United States in 23 states and the District of Columbia. Founded in 2010 by technologists creating tech specifically for cannabis businesses, MJ Freeway’s tracking software includes patent-pending inventory control and grow management applications to streamline workflow and increase efficiency. MJ Freeway’s Leaf Data Systems software solution enables governments to track cannabis plants from seed-to-sale and ensure patient, public, and product safety. MJ Freeway also offers a complete suite of professional consulting services for cannabis businesses.  For more information, visit mjfreeway.com.

About Batu Capital

Batu Capital is a multi-family office managed by Emery and Evan Huang. We look for opportunities in cryptocurrency, cannabis, and big data that constitute either game-changing technologies or are late-stage/pre-IPO enterprises that have built wide economic moats.

About Cresco Capital Partners

Cresco Capital Partners is a private equity firm that is focused on investing exclusively in the legalized cannabis space. The firm has deployed over $25MM in the industry since 2015 and is currently raising their second fund.  Fund II has made six (6) investments thus far and will close its raise at $50 million.  Led by an experienced team of private equity professionals, the firm’s principals have over 20 years of investment experience collectively within the legalized cannabis industry. 

Media Contact:

Jon Goldberg
KCSA Strategic Communications
Tel. 212.896.1282
Email: jgoldberg@kcsa.com

 


StaffStaffSeptember 20, 2018
MJFreeway2.jpg

4min230

MJ Freeway, the company which invented seed-to-sale technology and has the cannabis industry’s first enterprise resource planning product, completed a $10 million oversubscribed Series C financing. The round was led by Batu Capital Investments, a tech-focused multi-family office managed by Emery and Evan HuangCresco Capital Partners, a private equity investment firm dedicated to investing in the cannabis industry, also participated significantly.

“The industry is maturing rapidly and needs software that can handle increasing complexity, with state-of-the-art functionality and data security,” said Jessica Billingsley, Co-Founder & CEO of MJ Freeway. “With adult-use permitted in 9 states and medical in 30 states, MJ Freeway is uniquely enabled to support regulation at every level. Indeed, we are — and have been — the backbone upon which the cannabis industry is built. We thank our new and existing investors for realizing the tremendous importance of our enterprise.”

MJ Freeway has tracked more than $10B in cannabis sales with clients in AustraliaCanadaEuropeSouth AmericaSwitzerland, and the United States in 23 states and the District of Columbia. MJ Freeway’s Leaf Data Systems software solution enables governments to track cannabis plants from seed-to-sale and ensure patient, public, and product safety. The company has had a difficult year as it has been forced to navigate software hacks that it believes has been at the hands of competitors. Still, MJ Freeway has continued to push ahead and defy its critics by signing more customers.

“MJ Freeway’s technology is vastly superior to other offerings in the marketplace. It supports the full range of cannabis business operations – from cultivation to manufacturing to dispensary – with the industry’s first fully-integrated enterprise resource planning (ERP) product, MJ Platform,” said Emery Huang, Senior Partner of Batu Capital. “We believe MJ Freeway is the market innovator and will maintain its market dominance through a clear technological edge over the competition.”

“Cresco Capital Partners has made significant investments in the cannabis space since 2015, and we believe MJ Freeway is the clear leader in the cannabis supply chain management SaaS market, positioned for dominance,” said Matt Hawkins, Managing Principal at Cresco Capital Partners. “The company’s innovative product line and experienced management team led to our decision to invest in MJ Freeway’s unparalleled tech platform.”


StaffStaffSeptember 19, 2018

5min500

It’s time for your Daily Hit of cannabis financial news for September 19, 2018.

On The Site

Concentrates

The cannabis market has received a bit of good press recently, as Coca-Cola said it is “eyeing” the cannabis-infused drink market, following Constellation Brands investment in Canopy Growth last month.

But it’s one sub-sector of the market, cannabis concentrates, which may be the true star of the show. Cannabis market intelligence and consumer research firm BDS Analytics has issued a new report showing that cannabis concentrates are expected to hit sales of $2.9 billion in 2018, up 49 percent year over year. That would make the concentrate market the second largest, behind only flower, according to the report.

In Other News

Tilray (TLRY) stock jumped to $300 in trading on Wednesday before the stock was halted and then resumed trading. It still finished the day with an increase of 38% to close at $214. In after hours, the stock was falling modestly. The stock has moved over 40% in two days following the news that the DEA approved Tilray to bring in medical marijuana for a medical study in San Diego. The approval to bring marijuana legally across the border is a pretty big deal, but doesn’t really warrant the crazy move higher. The limited amount of outstanding shares and the johnny-come-lately’s trying to get a piece of the action have caused a frenzy of trading. All the while short sellers are screaming its time to get out.

MPX Bioceutical Corporation

MPX Bioceutical  (MPXEF) is acquiring all of the outstanding shares in the capital of Spartan Wellness Corporation from Ninth Square Capital Corporation and Veteran Grown Corporation both of which are at arm’s length to the Company. Spartan is a Canadian organization whose mission is to help veterans suffering from various ailments, mostly psychological, to reduce or eliminate dependencies on opioids by directing them towards medical cannabis. MPX will acquire all of the Spartan Shares for a total purchase price of up to $6,000,000 comprised of the following consideration and based upon the achievement of certain milestones

Sunniva Inc. 

Sunniva Inc. (SNNVF) announced its second quarter financial results, detailing milestones and achievements both for the second quarter and the first half of 2018. Revenue was reported to be up by C$1.2 million in Q2 and by overall C$4 million in the first six months of the year. During this six month period, the company’s total revenue amounted to C$9.6 million, against a net loss of C$11.2 million, compared to an C$11.7 million loss in the same period last year.

“We made great progress in Q2 2018 towards our goal of becoming a vertically integrated cannabis company in the U.S. In California, construction progressed at our phase one 325,000 square foot state-of-the-art Sunniva California Campus with completion targeted by the end of this year and first harvest expected in Q1 2019,” Holler stated in a news release. “Our extraction facility began generating revenue this quarter. We continue to secure new contracts and are excited about the future revenue opportunities in this and other vertical channels that maximize the synergies with our Full-Scale Distributors device business.”

Aurora Cannabis

Aurora Cannabis COO Cam Battley told the Financial Post that it would soon be listing its stock on a major exchange in the U.S., but wouldn’t disclose which one it would be.


StaffStaffSeptember 18, 2018
daily_hit004-1280x533.png

7min970

It’s time for your Daily Hit of cannabis financial news for September 18, 2018.

On The Site

KushCo Holdings, Inc. (KSHB) formerly known as Kush Bottles said that it is expecting to report a 171% increase in annual revenue to over $51 million for the fiscal year ended August 31st, 2018. The stock popped over 8% to lately trade at $5.23 on the news.

The news wasn’t all good. KushCo gave the market a heads up on a balance sheet hit. The company said that it expects to take a $1.8 million inventory adjustment charge resulting largely from opening multiple new distribution centers and its lack of a global warehouse management system. KushCo said that the situation would be addressed with software solutions being evaluated for implementation in the first half of the 2019 fiscal year.

The company experienced significant growth and blamed the problems on “growing pains.” KushCo opened several new distribution centers including Worcester, Massachusetts and Las Vegas, Nevada.

Coca-Cola

The news that soda giant Coca-Cola (KO) could be considering an investment or partnership with Aurora Cannabis (ACBFF) rocked the cannabis industry. First, because Coke is the king of beverages and secondly because cannabis is been so taboo in the consumer products industry.

“Consumer research shows Coca-Cola’s interest in marijuana is well-founded,” said Jeff Stein, Vice President at Consumer Research Around Cannabis (CRAC), a U.S. consumer company that specializes in researching the general consumer market and more recently, targeting cannabis consumers. “Soft drink users are more inclined to cannabis use than the general market according to our ongoing studies,” he said. CRAC said that the more a person drinks soda, the more likely they are to purchase cannabis.

In Other News

Tilray Inc. 

Tilray Inc. (TLRY) announced that the U.S. Drug Enforcement Administration (DEA) has granted the company approval to import a cannabinoid study drug into the United States from Canada for a clinical trial at the University of California San Diego Center for Medicinal Cannabis Research examining its safety, tolerability, and efficacy for Essential Tremor.

Tilray is providing a cannabinoid formulation for the trial in capsule form, which will allow researchers to test an investigational drug product containing two active ingredients extracted from the cannabis plant, cannabidiol (CBD) and tetrahydrocannabinol (THC).

Sunniva Inc. 

Sunniva Inc (SNNVF)  entered into an agreement with Beacon Securities Limited and Canaccord Genuity Corp. to purchase, on a bought deal basis, 1,900,000 units in the capital of the Company at a price of $5.27 per Unit for aggregate gross proceeds to the Company of $10,013,000. (All figures are in Canadian dollars unless otherwise stated). Each Unit shall consist of one common share in the capital of the Company and one-half (1/2) of one common share purchase warrant of the Company. Each whole Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price per Common Share of $6.85 for a period of 24 months from the Closing Date on or about October 10, 2018.

Elixinol Global Limited

Elixinol Global Limited, known as EXL, (ELLXF) commenced trading on the “OTCQX Best Market” in the United States under the symbol “ELLXF,” as of September 18, 2018.  The OTCQX listing will operate in parallel to the Company’s ASX listing where Elixinol Global trades under ticker code EXL.

EXL’s half-yearly report issued in August 2018, the company posted strong revenue growth and a maiden profit for the group, driven considerably by Colorado-based industrial hemp division, Elixinol. Elixinol’s increased sales were lead by cannabidiol (CBD) private label sales with e-commerce, mid-market and bulk sales also showing a strong performance. EXL was the only ASX-listed company in this sector to post a profit.

Emblem Corp.

Emblem Corp. (EMMBF) along with Canntab Therapeutics Limited announced that they have achieved a milestone with regards to the development of a patent-pending oral extended release formulation for cannabinoids. Dissolution testing conducted by Emblem and Canntab’s research and development teams indicated that the Extended Release Tablets released cannabinoids consistently over a 12-hour period. Given these positive test results, Canntab will now begin manufacturing pivotal batches of the Product at Emblem’s Paris, Ontario facility, and tablets from these batches will proceed to clinical testing.

NUGL Inc.

NUGL Inc. (NUGL) announced its joint venture marketing agreement with Nichols Publishing Company, the publishers of Garden & Greenhouse and Professional Marijuana Grower magazines that will expand the reach of NUGL’s user-friendly cannabis and indoor gardening search app as it becomes the industry’s go-to-app for unbiased client reviews, retail shop and dispensary listings, locations of favorite cannabis brands and in-depth company profiles.

Green Hygienics Holdings Inc.

Green Hygienics Holdings Inc. (GRYN) announced its strategic acquisition of the Canna Brands Portfolio. Cannagram, which will be rebranded Cannagram Services, is a flagship platform that establishes the company as a trusted partner while extending brand awareness and cross-portfolio resources. Myijuana is a destination portal comprised of news, reviews, e-commerce and dynamic content curation. The CoursePro Academy was originally created to enable a variety of subject matter experts to create, publish, manage and sell their courses on one system.


StaffStaffSeptember 17, 2018
plant2.jpg

3min740

Auxly Cannabis Group Inc. (CBWTF) completed a strategic investment and a commercial rights agreement with Kaneh Bosm BioTechnology Inc. (KNHBF).  The deal will give Auxly access to a significant and established portfolio of international cannabis licenses, assets and distribution networks.

Kaneh Bosm is changing its name to ICC International Cannabis Corp. but will continue to use its existing stock symbol. The shares should begin trading under the new name on September 20.

Kaneh Bosm specializes in the acquisition of marijuana projects and cannabis-related companies and has agreements in place for European-based pharmaceutical distribution, wholesale importation, research, and development. In addition to that, the company has working interests in industrial hemp licenses in Greece, plus licenses to cultivate, produce, distribute, store, and export cannabis and cannabis derivatives in Colombia, the Kingdom of Lesotho, Africa, and Denmark.

“Auxly’s investment in Kaneh Bosm represents another synergistic partnership that adds depth to the Auxly platform,” said Hugo Alves, President, and Director of Auxly. “This time, however, the partnership substantially expands our platform on an international scale. We commend Eugene and his team on the work they have done in acquiring the valuable platform of assets that make up Kaneh Bosm and we look forward to working together to build a meaningful international asset base.”

Eugene Beukman, Chief Executive Officer and Director of Kaneh Bosm, added, “We are very fortunate to have attracted a partner like Auxly. Their support is a further validator of our conviction that international opportunities in the right jurisdictions are likely to represent the next major growth and focus area for capital, as these significant markets mature and develop. Our licenses and target licenses in Europe and Latin America blanket a massive population of eligible and interested consumers.”

Terms

According to the company statement, Auxly has subscribed for $5,000,000 of senior unsecured convertible debentures of Kaneh Bosm by way of a non-brokered private placement. The debentures bear a coupon of 8.00% and have a maturity date of September 17, 2021. The debentures can be converted into units, at the option of the company, at a price of $0.53 per unit. Each unit consists of one common share of Kaneh Bosm and one common share purchase warrant exercisable into one common share of Kaneh Bosm at an exercise price of $1.06 for a period of three years.

 


StaffStaffSeptember 12, 2018
img_brightfield.jpg

6min1120

Chicago, IL: On Sept. 12, 2018, Brightfield Group LLC, a cannabis market research firm, released its much-anticipated 2018 Hemp-Derived CBD Study, available on the company’s website. The company established itself as a thought leader in the CBD space last year, propelled by a Forbes headline reading: “Nearly Half of People who use Cannabidiol [CBD] Products Stop Taking Traditional Medicines” referencing a study Brightfield Group conducted in collaboration with HelloMD. Since that time, Brightfield Group has expanded the reach of its research, generating a much more in-depth hemp CBD study that covers market sizes and projections, growth drivers, product innovations, competitive landscape, regional differences, and several other elements of what now promises to be a significantly larger market. With the anticipated passing of the 2018 U.S. Farm Bill, which includes a provision that would fully and unambiguously legalize hemp and its extracts, the hemp-derived CBD market is expected to quickly go mainstream and become a $5.7 billion market by next year, and a $22 billion market by 2022 – nearly forty times its current size.

Regarding the massive growth forecasts, Brightfield’s Senior Analyst, Jamie Schau, said, “Our team works diligently to cast a realistic view of the market – we believe that blowing market sizes and growth figures out of proportion would do our customers and the market a great disservice. This year’s hemp CBD forecasts might seem like a departure from that view, but I assure you they are not. These numbers reflect the substantial changes we anticipate will follow full federal legalization of hemp-derived CBD, a prospect that is no longer a pipe dream but looking more and more likely as bi-partisan support for hemp and its extracts continues to grow. Legalization without an asterisk will be a game-changer for this market, and after reviewing hemp-derived CBD from every angle, we are excited to be the first ones reporting on the very real possibility that it will become the next major nutraceutical phenomenon.”  

Beyond the extensive updates made to Brightfield Group’s market sizes and projections and its sections on the regulatory environment, top players in the market, and characterizing the hemp CBD consumer, various new elements can be found in this year’s study, including:

  • Product Innovations by Segment
  • Pre- and Post-Legalization Distribution Channel Analysis
  • Clinical Trials and Research Review

“A few years ago almost no one know what hemp-derived CBD was, it was sold my mostly small brands of tinctures sold online and through head shops.   All of a sudden, CBD is everywhere – it is both a trendy new ingredient in drinks, face creams, pre-rolls and pet treats and an answer to the prayers of so many people suffering from medical conditions ranging from epilepsy, anxiety and chronic pain,” explained Bethany Gomez, Director of Research. ” It rides the waves of so many global food and health trends, as a substitute for opioids, towards more natural health alternatives and functional ingredients.”

“What is most notable is that this market has grown almost exclusively based on word-of-mouth, with marketing heavily restricted due to the legal gray area that hemp CBD operates in. But, if Mitch McConnell has his way, the Farm Bill will change that, officially descheduling hemp and paving the way for mass retailers and CPG companies to enter the space.  And that is what will change the game entirely. ”

About Brightfield Group: Brightfield Group offers market research insights into the legal cannabis and CBD industries, taken to the next level by a team of expert market analysts drawing on their years of experience analyzing opaque markets with the most sophisticated analytical and statistical tools available, including AI-driven consumer research. Brightfield knows that poor decisions based on faulty data can sink a business, and believes in the value of getting it right the first time. For that reason, its analysts use all the tools at their disposal to help clients avoid this fate by pinpointing the growth drivers to help them stay ahead of the curve and thrive.

Brightfield Group LLC
1212 N. Ashland Ave.
Chicago, IL 60622

(866) 395-9661

 

Media Contact:

Rich DiGregorio, NisonCo

Rich@nisonco.com

856-889-7351

 

 


StaffStaffSeptember 11, 2018
img_cmd.jpg

11min860
New York – September 11, 2018 /AxisWire/ With cannabis going mainstream by the minute, and support for legalization in the U.S. at record highs (above 60 percent, according to Pew Research Center and Gallup), an increasing amount of highly-trained, seasoned executives are getting into the cannabis industry. From NYU grads, to Yale MBAs, to former U.S. House Speakers, talent is flooding the space.
In the latest move of this kind, Entrepreneur learned exclusively that veteran media executive Michael Klein has joined medical cannabis-focused digital media company cannabisMD.com to fulfill the Chief Executive Officer position. Klein brings more than twenty years of experience in mainstream media to the table, having served as Executive Vice President of Original Content at Viacom-owned MTV, Executive Vice President of Programming & Content Strategy for Digital Channels at Condé Nast Entertainment, and as a high-ranking executive at  SundanceTV, Travel Channel, TLC and Discovery.
According to a representative of cannabisMD.com, Klein will “oversee all creative and business operations for the company, launched in April 2018 by co-founders and chairmen G. Scott Paterson and Rory Millikin.”
Why Klein?
When asked why cannabisMD.com had picked Klein as its CEO, Paterson explained that the choice was based on the exec’s experience building and growing media companies, as well as a profound editorial and creative expertise.
“We’re in the early days of an enormous cultural shift in thinking around the therapeutic and wellness benefits of medical cannabis and CBD, and a new world of consumers is looking for unbiased, quality information to help them make the right choices for their individual needs and lifestyles,” said Klein. “We want to grow cannabisMD into a one-stop destination for comprehensive information and trusted voices, presented in the most compelling ways, so consumers can be smart about determing the benefits of medical cannabis and CBD for their loved ones and themselves.”
A Growing Trend
The news of Klein joinin cannabisMD does not only respond to a trend of seasoned executives migrating into the cannabis industry, but also to another tendency in the industry: the emergence of educational resources aimed at debunking stoner stereotypes and promoting the therapeutic benefits of marijuana.
Other websites undertaking a similar endeavor include:
“I’m impressed with the volume of original content out there,” Klein said when prompted about cannabisMD’s peers. However, he added, most of the existing content “seems to focus on the adult consumption market.
Klein believes that what differentiates his company is having identified a “real need among a fast-growing, underserved audience for unbiased information on the potential benefits of medical cannabis and CBD.
“For me personally, it’s really exciting as I can apply what I’ve learned about content and storytelling to help audiences make smart, informed decisions in this rapidly emerging area of health and wellness,” he told Entrepreneur.
The ‘Deats’
By this point in the conversation, we’d discussed the quality of cannabisMD’s content extensively. However, we still didn’t have a clear picture of the kind of programming the site will be creating, and what the actual reach will be.
“At the heart of cannabisMD is storytelling — from doctors and researchers sharing their latest findings; to myth-busting videos that educate and surprise; to personal stories and experiences of individuals from all walks of life,” Klein anwered. “This is urgent, timely programming on the potential benefits of medical cannabis and CBD that is honest, authentic, unfiltered and unbiased.
“As we strive to create a safe environment for consumers and brands, we do not see any barriers to distribution,” he supplemented.
By means of conclusion, the new CEO mentioned that cannabisMD has a unique opportunity to “become the authority for premium, unbiased content in the fastest growing space in health and wellness.
“Cannabis can be a provocative, intimating subject, but there’s no reason it has to be,” he said. “We’re creating a safe environment for consumers to explore this space and make choices that are right for them while brands can use the platform to reach this fast-growing, premium audience.
“Health and wellness has never been more important to consumers, and cannabisMD will seek to drive the cultural conversation around the emergence of medical cannabis and CBD with the help of some of the best thinkers and creators in the space.”

StaffStaffSeptember 11, 2018
img_altitudein.jpg

8min860

Ten New Investments Since Initial March 2018 Fund Close

New York – September 11, 2018 /AxisWire/ Altitude Investment Management, LLC updated the market today on its fund Altitude Investment Partners, LP’s recent cannabis industry investments. During the period of March through August 2018, Altitude invested in ten companies: six of which were add-on investments to existing portfolio companies and four were investments in companies new to the Altitude portfolio.

The Altitude portfolio now consists of investments in 15 companies. The following is a summary of a selection of notable recent investments:

BDS ANALYTICS

Altitude made an add-on investment as co-lead in BDS Analytics’ Series B Preferred Stock $3.5 million capital raise. BDS is the leader in cannabis business intelligence. This funding places BDS in a very strong position to execute the national expansion of its GreenEdgeTM software and to roll out its Consumer Insights & Industry Intelligence services to a much broader client base. Using the GreenEdgeTM sales tracking software, BDS Analytics is able to generate actionable insights pulled from hundreds of dispensary partners’ point-of-sale systems and closely study the behaviors and psychographics of cannabis users through its Consumer Insights Group. Its Industry Intelligence Services enables the company to make accurate market-wide financial projections and help the cannabis industry make better informed decisions. “We are very impressed with the management team,” says Jon Trauben, partner at Altitude. “Based on extensive experience in other industries, BDS Analytics has developed proprietary software and services that provide its clients with really useful data and insights. Its value is reflected in the rapid growth and diversification of the BDS Analytics client base.”

CANNDESCENT

Altitude made an add-on investment in Canndescent’s Series C Convertible Note $13 million capital raise. Canndescent closed 2017 as the #1-selling brand of cannabis flower in California with its market-leading effects—Calm, Cruise, Create, Connect and Charge and is taking that success to the vape and ingestible categories. Canndescent is a leading modern cannabis company by combining world class management with best practices from consumer-packaged goods, advanced agriculture, and luxury lifestyle marketing. The company is commencing a multi western-state expansion strategy. John Brecker, partner at Altitude added, “We took a small position in Canndescent’s Series B Preferred Stock raise and have increased our investment significantly based on the milestones the company has achieved in such a short period of time.”

GRASSROOTS CANNABIS (AES Compassionate Care PA and Grassroots Compass Ventures IL)

Altitude made separate investments in both AES Compassionate Care Pennsylvania and Grassroots Compass Ventures Illinois. Each are fully-licensed, vertically-integrated cannabis companies that are active in cultivation, extraction, manufacturing and retailing. Both companies are managed by the same management team. Altitude partner Michael Goldberg stated, “Our investments in multistate vertically-integrated operators will allow us to participate in the growth and value creation as the medicinal markets grow, new patients are added, and new approvals for qualifying conditions increase the patient base. Additionally, large upside exists when a planned rollup takes place and as these states legalize adult use.”

FLOWHUB

Altitude made an add-on investment in Flowhub’s Convertible Note $3.3 million capital raise. Setting a new standard for the highly regulated industry, Flowhub offers dispensary and cultivation license holders a metrc™ integrated platform built specifically to simplify compliance, with data automatically sent to state regulators via an API. Flowhub’s award-winning software serves more than 300 of the largest retailers and cultivators in the United States. Flowhub processes over $1B in cannabis sales annually and is the top cannabis compliance technology recommended by state agencies. Rod Stephan, partner at Altitude added, “Flowhub has successfully created software which meets the regulatory and compliance requirements of each state and also creates a sticky customer with recurring monthly revenues. We are excited by the accelerating growth of this company.”

C4 DISTRO (Golden Systems)

Altitude made a lead investment in Golden Systems’ Class B Preferred Units $5 million capital raise. Golden Systems owns C4 Distribution Co. (a.k.a C4 Distro), a California-licensed distribution operating company. C4 is poised to become a leader in the California cannabis distribution market. California needs companies to provide quality distribution services due to the extremely fragmented market of suppliers and retail dispensary buyers. C4 has most recently added four new brands for distribution to its growing list of products. Rod Stephan stated, “With service to over 160 dispensaries in southern California, C4 is experiencing accelerating month-over-month growth by leveraging its high touch business model to build close relationships with its customers. The distributor plays a material role in the supply chain as well as in creating and growing brands. We believe C4 has the right management team to capitalize on this opportunity.”

PATHOGEN DX

Altitude was the co-lead investor in PathogenDx’s Convertible Note $3.4 million capital raise. PathogenDx provides DNA-based disruptive testing technology and solutions to the cannabis, botanical, food, and agriculture markets at an adaptable scale for both large and small testing facilities. The company offers growers, processors, producers, consumers, and ancillary services real-time data and information pertaining to the quality of their product, ensuring a safer commodity and preventing millions of dollars in losses from contaminated or spoiled crops. PathogenDx’s testing kits identifies bacterial and fungal contaminants and reduces testing time down to hours from the traditional petri-dish method which takes days. Jon Trauben commented, “The company is in an enviable position as it fulfills a central regulatory need with cutting edge science, while alleviating existing bottlenecks.”

ABOUT ALTITUDE INVESTMENT PARTNERS

Altitude Investment Partners, LP is a US-based, global venture capital fund that invests in a range of early-stage to growth companies supporting the fast-growing legal global cannabis industry. The fund is managed by Altitude Investment Management, LLC, (the “Manager”), whose members have been actively investing in the cannabis industry and have successfully invested in the alternative investment space for years. The Manager provides institutional quality investment management experience to its investors. The fund continues to accept new investments and plans to close the fund to investors later this year. For more information about Altitude Investment Management please contact info@altitudein.com or visit www.altitudein.com.


StaffStaffSeptember 10, 2018
daily_hit004-1280x533.png

5min1480

It’s time for your Daily Hit of cannabis financial news for September 10, 2018:

On The Site

Aurora Cannabis

Aurora Cannabis Inc. (ACBFF)  is planning to acquire South American ICC Labs Inc.(TSX-V: ICC) in a deal valued at C$290 million. Aurora will pay roughly C$1.95 per share in an all-stock transaction.

ICC is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis, and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay and is focused on becoming the worldwide leading producer of cannabinoid extracts.

Golden Leaf Holdings

Cannabis company Golden Leaf Holdings Ltd. (GLDFF) entered into an agreement with Canaccord Genuity Corp. as sole agent and bookrunner for a private placement of unsecured convertible subordinated debenture units. The deal is expected to close on or about October 4.

Golden Leaf is a Canadian company operating in multiple jurisdictions, including Oregon, Nevada, and Canada, with cultivation, production and retail operations built around recognized brands like Chalice Farms. Golden Leaf distributes its products through its Chalice Farms retail dispensaries, as well as through third-party dispensaries. Golden Leaf’s cannabis retail operations and products are designed with the customer in mind, focused on superlative in-store experience and quality products.

In Other News

Emerald Health Therapeutics, Inc.

Emerald Health Therapeutics, Inc. (EMHTF) has been selected as an authorized cannabis supplier by the Newfoundland Labrador Liquor Corporation to supply cannabis products to the NLC and serve the newly legalized adult-use market in the province of Newfoundland Labrador when sales begin on October 17.

According to the company statement, with its previously announced supply agreements with the provinces of British Columbia and Ontario, as well as its commercial production facilities quickly ramping up in British Columbia and Quebec, Emerald is prepared for the adult-use market. The company is focused on product innovation that will command high-profit margins; differentiating its marketing strategy; and securing significant supplies of safe, quality, low-cost cannabis.

The Supreme Cannabis Company, Inc.

The Supreme Cannabis Company, Inc. (SPRWF) announced that its wholly-owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd., a subsidiary of Tilray Inc. (TLRY). The statement said that the value of this initial supply agreement is estimated to be in excess of C$2 million.  Dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray’s robust patient population.

MVC Technologies

It was announced today that a company identified as 10557404 Canada Corp. signed a non-binding Letter of Intent with MVC Technologies Inc. a cannabis-focused service and technology company and a plan to file a prospectus with the British Columbia Securities Commission to go public in a reverse take over.

According to the company statement,  the key drivers of this acquisition are Sail, a pre-eminent cannabis EMR platform, Canna Care Docs, a multi-state network of patient evaluation and education centers and revenue of $5.4-million for the six months to June 30, 2018.

Hexo Corp.

HEXO Corp. (TSX:HEXO)  announced the acquisition of a 25%  interest in a 2,004,000 sq. ft. facility in Belleville, Ontario. This is the first facility of the Company to be established outside of Quebec, further delivering on its national expansion strategy and providing capacity for the manufacturing of advanced cannabis products, including cosmetics, vapes, non-alcoholic beverages and other edibles.


StaffStaffSeptember 10, 2018
img_tgod.jpg

6min2250
TORONTO, September 10, 2018/ AxisWire/ The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF)is pleased to be featured as the Keynote Interview for the upcoming Green Market Summit this Friday, September 14, 2018 with CNBC’s Jim Cramer.

Founder of TheStreet.com, American TV personality, former hedge fund manager, and best-selling author Jim Cramer will be interviewing Brian Athaide, TGOD’s CEO, on the Company’s successful IPO, future growth strategy, the future of cannabis beverages, international markets, and more. Expect Cramer to ask former P&G executive Athaide about his new role as CEO and why he thinks his product will resonate with consumers. This will be the first cannabis conference attended by Jim Cramer.

The Green Market Summit, The Advanced State of Cannabis Economics will take place Friday, September 14, 2018 at the One World Trade Center in New York City. More information on the event is available here.

“I am excited to share our story with CNBC’s Jim Cramer this Friday,” said Brian Athaide, TGOD’s CEO. “With such a vast US shareholder base and our objective to list on the NYSE in the near future, I look forward to the opportunity to showcase our company, methodology, and differentiated approach focused on both organic, beverages, and the international markets to a strong, sophisticated US audience,” Continued Athaide.

Investors looking to learn more about TGOD may visit the Company’s Investor Centre at https://tgod.ca/investor-centre/ or contact the Company at invest@tgod.ca, and patients may now register for the Company’s beta patient program at https://tgod.ca/patients/

Contact Us:
E: invest@tgod.ca
T: 1 (416) 900-7621
W: www.TGOD.ca



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 – 8 hours

$CGC ⁦@CanopyRiversInc⁩ great panel last week at the

@GreenMarketRpt – 8 hours

The good and bad on $TLRY this week.

@GreenMarketRpt – 1 day

Ready to talk $TLRY ⁦@WallandBroad⁩ on ⁦@cheddar⁩

Back to Top

You have Successfully Subscribed!