Staff, Author at Green Market Report

StaffStaffMarch 23, 2018


Here are the day’s cannabis news briefs for March 23, 2018.

A spending bill passed by Congress early Friday contains language that renews restrictions on the use of federal funds to interfere with state medical marijuana programs. While the president made it sound like he wouldn’t sign the bill, the latest news is that he does intend on signing the legislation. The rider called the Rohrabacher-Blumenauer amendment will continue to prevent the Department of Justice from spending any money to go after medical marijuana patients and providers who comply with laws in states where medical marijuana is legal. The budget is good until September 30 and the rider would need to be renewed in the FY2019 spending bill. This language was originally approved in 2014 and has been included in every subsequent budget agreement.

What didn’t happen was a separate piece of legislation that would have protected recreational marijuana businesses. That was not approved by House Republicans to go to the floor for a vote.

InMed Pharmaceuticals Inc.

Biopharmaceutical company InMed Pharmaceuticals (IMLFF) that specializes in the research and development of novel, cannabinoid-based drug therapies announced that is has received final approval for the listing on the Toronto Stock Exchange.

Maricann Group Inc.

Maricann Group (MRRCF) announced that on March 20, 2018, it received an occupancy permit from Norfolk County for Phase One of its new grow facility in Langton, Ontario. The company is now ready to begin cultivation in its Canadian expansion subject to receipt of Health Canada approval.  Phase One is expected to increase the Company’s annual growing capacity to 25,000 kg of dry cannabis flower per year. Phase One is the first 217,000 square feet of a planned 942,000 square foot facility.

StaffStaffMarch 21, 2018


Here are the news briefs for March 21, 2018:

Delta 9 Cannabis Inc.

Delta 9 Cannabis  (TSXV: NINE)  signed a binding letter of intent and a lease agreement with 6599362 Canada Ltd.  for the land and building containing the company’s current cannabis production facility or “Building E”. The new lease also contains an option for Delta 9 to purchase Building E for a price of $6.25 million at any time during the term of the new lease. The company anticipates executing this option to purchase Building E within the next few days.

WeedMD Inc.

WeedMD (WDDMF)  announced that it made a strategic investment in Snipp Interactive Inc. (SPN.V), a global loyalty and promotions company focused on disruptive engagement platforms for consumers. The companies have also entered into an agreement whereby WeedMD will appoint Snipp as its technology vendor of record to design and deploy custom marketing solutions for direct sales, retail sales, referral/sourcing programs, distributor programs and other programs.

Nemus Bioscience, Inc.

Cannabinoid biotech firm Nemus Bioscience (NMUS) named Professor David Schubert, Laboratory Head of the Salk Institute’s Cellular Neurobiology Laboratory to its Scientific Advisory Board.

Dr. Schubert is a two-time recipient of the Jacob Javits Award for outstanding contributions to neuroscience from the National Institute of Neurological Disorders and Stroke (NINDS), a section of the National Institutes of Health (NIH).

StaffStaffMarch 20, 2018


Horizons ETFs Management completed its quarterly rebalance of the  holdings of the Horizons Marijuana Life Sciences Index ETF (HMMJ) on March 16, 2018. As a result, 10 new companies have been added to HMMJ’s portfolio.

The HMMJ portfolio recently expanded to include the following constituents:

Company Name Ticker Exchange
Abattis Bioceuticals Corp. ATT Canadian Securities Exchange
Beleave Inc. BE Canadian Securities Exchange
HIKU Brands Co. Ltd. HIKU Canadian Securities Exchange
Isodiol International Inc. ISOL Canadian Securities Exchange
National Access Cannabis Corp. NAC TSX Venture Exchange
Neptune Technologies and Bioressources Inc. NEPT Toronto Stock Exchange
Nuuvera Inc. NUU TSX Venture Exchange
Tetra Bio-Pharma Inc. TBP TSX Venture Exchange
Terrascend Corp. TER Canadian Securities Exchange
THC Biomed International Ltd. THC Canadian Securities Exchange

“One of the key benefits of HMMJ is its diversification – providing access to a broad cross-section of stocks involved in the marijuana sector. It’s exciting to see an increase in the number of investable companies that qualify to be included in HMMJ’s portfolio,” said Steve Hawkins, President, and Co-CEO of Horizons ETFs. “As we move closer to the Canadian government legalizing the recreational use of marijuana, we continue to watch the Cannabis sector rapidly grow in size and breadth.”

The Index now has 39 total holdings:

as at 03/16/2018
WEEDMD INC . 0.73%
ICC LABS INC . 0.84%
APHRIA INC . 9.51%

StaffStaffMarch 19, 2018


Terra Tech Corp. (TRTCD) delayed its earnings announcement from Thursday to Friday following the market close. On Friday the stock closed $3.77, but then on Monday after the investors digested the news, the stock fell to a close of $3.24 and then slipped further to $3.20 on Tuesday.

Full-year revenues for 2017  increased 41% to $35.80 million over 2016’s $25.33 million. Total revenues for the fourth quarter ending in December increased 54% to $11.01 million over last year’s $7.13 million for the same time period.

Terra Tech delivered a net loss of $32.68 for 2017, which was an increase over last year’s loss of $26.72 million. In a company statement, the loss was blamed on “an increase in sales, general and administrative expenses from the opening of the new dispensaries, an increase in the amortization of debt discount, an increase in loss on the extinguishment of debt, an increase in loss on fair market valuation of derivatives, an increase in loss on fair market valuation of contingent consideration offset by a gain on settlement of contingent consideration in the year ended December 31, 2017, compared to the prior year.” The loss per share for 2017 was ($0.71) versus last year’s loss of ($1.04).

Expenses for the year amounted to approximately $25.36 million, compared to approximately $20.72 million for the year ended December 31, 2016.

Management Comments

Derek Peterson, Chief Executive Officer of Terra Tech said, “The rapid growth of the legal cannabis market, coupled with our aggressive expansion strategy, has led to Terra Tech’s emergence as a pre-eminent retail and wholesale cannabis company in the United States. Our strategy to establish our Blüm and IVXX brands as premium cannabis experiences in targeted states set the foundation for the Company to quickly expand into the adult use market when Nevada welcomed legalization in July 2017, followed by California in January 2018. These regulatory milestones significantly expanded our addressable market and transformed the Company’s potential growth path.”

Terra Tech has $5.45 million in cash as of December 31, 2017. Subsequent to the quarter end, the company announced that it has secured a $40 million investment commitment, to be made in eight tranches of $5 million over 24 months.

Reverse Split

On March 13, the company conducted a 1:15 reverse split that was originally approved last year. As a result of this, the stock also changed its CUSIP number and the stock symbol was changed from TRTC to TRTCD.

The company said in its filing, “Although we believe that a higher market price of our common stock may help generate greater or broader investor interest, there can be no assurance that the reverse stock split will result in a share price that will attract new investors, including institutional investors. In addition, there can be no assurance that the market price of our common stock will satisfy the investing requirements of those investors. As a result, the trading liquidity of our common stock may not necessarily improve.”

StaffStaffMarch 19, 2018


Here are today’s cannabis briefs for March 19, 2018:

MedReleaf Corp.

MedReleaf (MEDFF) announced that it entered into an agreement to become the largest supplier of medical cannabis products to Cannamedical Pharma GMBH, a leading medical cannabis distributor to pharmacies in Germany. According to a company statement, MedReleaf will provide Cannamedical with monthly exports of five of its premium strain varieties significantly improving the predictability and security of drug delivery to the German market. Sales to Germany will commence promptly upon the expected receipt of MedReleaf’s European Medical Agency Good Manufacturing Practices certification and export permit from Health Canada in the coming weeks.

Kona Gold Solutions, Inc. 

Kona Gold announced its wholly owned subsidiary, HighDrate, LLC, is entering the Chicago market with its new CBD Energy Waters.  The Company’s new distribution partner, 1 Oak Wholesale, based in Addison, IL, will distribute the Company’s HighDrate CBD Energy Waters in Chicago and surrounding areas.  “Our new HighDrate CBD Energy Waters has hit the market with a splash with overwhelmingly positive feedback from customers and quick re-orders from our retailers around the country,” stated Robert Clark, CEO of Kona Gold Solutions, Inc.  “I am very excited to announce our first distribution partner of our HighDrate CBD Energy Waters just three months after launch.”

True Leaf Medicine International Ltd.

True Leaf Medicine (TRLFF) has recruited two medicinal cannabis cultivation experts to lead the development of its medicinal cannabis products. Stephen Schroeder, Chief Cannabis Industry Advisor, and Christian Zofchak, Director of Horticulture Operations, have joined the True Leaf team, driven by a motivation to help patients, as well as their own family members, who find their pharmaceutical treatments ineffective or intolerable.

The cultivation team members are Canadian leaders in selective cannabis plant development. They will identify the best cannabis plant genetics worldwide, and, as part of True Leaf’s proprietary intellectual property, will develop unique strains capable of producing the active ingredients needed to develop a highly-effective medicinal product line to address neurological, musculoskeletal, gynaecological, and gastrointestinal conditions.

WeedMD Inc.

WeedMD  (WDDMF) announced that it has made a strategic investment in Scorpion Resources Inc., to be renamed Blockstrain Technology Corp. WeedMD will be amongst the first federally-licensed producers to initiate the integration of blockchain technology into its ecosystem. Blockstrain delivers a secure and immutable blockchain platform to establish global certainty for cannabis strains and their ownership.

Canopy Growth Corporation

Canopy Growth confirmed that it has successfully completed a transfer of 1,500 cannabis clones to its Madrid -based partner, Alcaliber SA, completing the first phase of a partnership entered into by both parties as announced on September 11, 2017.

StaffStaffMarch 19, 2018


CanniMed Therapeutics (CMMDF) reported that its sales rose 41% to $4.8 million from last year’s $3.4 million for the same time period. The company said that rising demand for dried medical cannabis caused those sales to jump 33% to 455kg with an average selling price of $10.56.

Net earnings for the first quarter were $5.3 million and according to the company statement,  included a $23.6 million gain on derivative instruments (Q1 2017 – $3.9 million net loss, including a $2.4 million loss on derivative instruments) that was partly offset by transaction costs of $13.1 million (Q1 2017 – $nil) and a mark to market loss on marketable securities of $2.2 million (Q1 2017 – $nil).

“CanniMed’s continued success reflects our accomplished team that always strives for excellence and remains focused on high-quality products from GMP compliant production practices,” said Brent Zettl, CEO, CanniMed. “This past quarter we have met many key milestones, including new product introduction and capacity growth. Now, as CanniMed transitions and integrates with Aurora Cannabis, I am confident that our tremendous people will continue to serve our customers well and help Aurora to realize even greater accomplishments.”

Readers may recall the epic battle that took place between Aurora Cannabis (ACBFF) and CanniMed Therapeutics. Last week,  Aurora announced that it had completed its initial take up of common shares.  Aurora extended the period in which shareholders of CanniMed may tender their shares under the offer to March 25, 2018.


CanniMed is targeting production expansion which is estimated to reach 17,000 to 21,000 kg within the next 24 months. The company launched CanniMed Topical Cream, a new product that has been formulated to provide relief from pain and inflammation and began fulfilling orders and shipping Topical Cream Kits.

The company is also prepared to commence sales of cannabis oil capsules, in anticipation of Health Canada approval in the second quarter of 2018.

During the first quarter of fiscal 2018, CanniMed announced that it had entered into an international marketing and distribution agreement with leading global pharmaceutical compounding company Fagron NV.

StaffStaffMarch 15, 2018


Massachusetts-based MariMed Inc. (MRMD) announced that it has raised  $2.828 million in equity through the sale of its restricted stock in private placements between October 30, 2017 and January 24, 2018 at prices averaging 15% below the market price. The stock has traded in a range between 20 cents and $1.48 and was lately trading at $1.21.

The company said that the funds were used for the continued development of MariMed cannabis facilities in Maryland and Massachusetts. In conjunction with raising the money, MariMed reduced its liabilities by $1.8 million through the conversion of $1.25 million of promissory notes into common stock retiring $550,000 of additional promissory notes.  MariMed also said it converted $500,000 plus dividends in holdings of Preferred Class A Stock to common stock.

“We have a combination of new and returning investors who recognize MariMed’s achievements of major milestones within announced timeframes and are confident in MariMed’s proven business model,” stated Jon Levine, MariMed CFO.  “These transactions strengthen our balance sheet by increasing our assets and reducing our debt.  As MariMed continues to grow stronger and expand its footprint in the cannabis industry, our increasing revenue, assets, and earnings are attracting new capital, positioning our company for a continued upward trajectory and future growth.”

Earlier this week MariMed announced that its Kalm Fusion™ brand precision dosed Kalm-Corn cannabis-infused popcorn and Kalm Powdered Tincture drink mixes were now available for the first time to state-licensed Nevada dispensaries as part of the company’s national expansion of its branded products. Prior to that announcement, MariMed named Ryan Crandall Vice President of Product & Sales as part of its plan to expand its executive team and staff to support the company’s planned strategic growth in 2018 and beyond.  In a statement, the company said that in this position, Crandall will be responsible for MariMed’s national sales initiative and growing MariMed’s portfolio of products and brands. MariMed is part of the U.S. Marijuana Index, (

StaffStaffMarch 14, 2018


The Green Organic Dutchman Holdings Ltd. (TGOD)  announced that it has filed an amended and restated preliminary long form prospectus with the securities regulatory authorities in each of the provinces of Canada in respect of its previously announced initial public offering (IPO). The company plans a minimum offering of $75 million with a maximum offering of $100 million through the issuance of a minimum of 20,547,945 units and a maximum of 27,397,260 units at a price of $3.65 per unit.

The IPO is being led by Canaccord Genuity Corp. as the sole bookrunner and co-led with PI Financial Corp., together with Industrial Alliance Securities Inc., INFOR Financial Inc., Echelon Wealth Partners Inc. and Mackie Research Capital Corporation as agents. To date, the company has raised approximately $160 million dollars and has over 4,000 shareholders.

TGOD grows high quality, organic medical cannabis with sustainable, all-natural principles and its products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. Additionally, TGOD has a capacity to grow 116,000 kg of cannabis and is situated on approximately 175 acres of land between two of the most populated areas of Canada; Ontario & Quebec.

According to the company statement, each unit consists of one common share of the TGOD and one-half of one common share purchase warrant of the company. Each warrant is exercisable into one common share at the price of $7.00 per warrant Share, subject to adjustment, on or prior to 4:00 p.m. eastern time on the date that is the earlier of (i) 24 months after the Closing Date and (ii) the date specified in any Warrant Acceleration Notice. If, at any time, the volume-weighted average trading price of the common shares of the company is equal to or greater than $9.00 for any 10 consecutive trading day period, the company may provide written notice to Computershare Trust Company of Canada as warrant indenture trustee and the registered holders of warrants  that the expiry time of the Warrants shall be accelerated to the date which is 30 days after the date of such Warrant Acceleration Notice, subject to TSX approval.


StaffStaffMarch 14, 2018


CannaRoyalty Corp. (CNNRF) through its subsidiary, Trichome Yield Corp. will provide up to $2.5 million to 180 Smoke to fund an expansion of its retail footprint in anticipation of Canadian adult-use cannabis legalization.

180 Smoke was co-founded by world-renowned heart surgeon Dr. Gopal Bhatnagar, and is an Ontario-based vape products company. is the highest trafficked vaping website in Canada and currently attracts 64% of Canadian vape-related web traffic. The money will support 180 Smoke’s retail and cannabis product offering expansion and help the company open 11 new stores as well as expanding the company’s cannabis hardware offering. 180 Smoke and CannaRoyalty’s subsidiary, CR Advisory, will also work together to bring cannabis products to the Canadian marketplace.

“Forming a relationship with leading Canadian omnichannel retail leader 180 Smoke ahead of adult use legalization represents a compelling and unique first deal for Trichome. It also presents CannaRoyalty shareholders with multiple paths to value creation,” said Marc Lustig, CEO of CannaRoyalty. “180 Smoke’s harm reduction platform has enabled the company to develop an authentic and responsible Canadian retail experience that has served Canadian cannabis consumers for years. This unique model makes them a stand-out – not just in Canada – but also positions them favorably against established cannabis retailers we have seen in the mature California market, where we have benefited from investing in and securing distribution pipelines into retail sales channels.”

According to the statement, 180 Smoke will receive up to $2.5 million from the financing, with an initial investment of $500,000 to be followed by additional investments up to the $2.5 million maximum, subject to satisfactory due diligence and other customary conditions. The Financing will be secured against the assets of 180 Smoke. Further, 180 will issue warrants to acquire shares of 180 Smoke at a pre-determined exercise price for a three-year term.

180 Smoke reported $7.7 million in net sales for 2017 and currently has 16 retail stores in its network. 87% of its net sales come from vape and nicotine related products, while only 12% comes from cannabis vape products.

StaffStaffMarch 13, 2018


Here are the quick hits for March 13, 2018:

Aurora Cannabis

Aurora Cannabis (ACBFF) announced the grant of three permits by the Australian Government, Department of Health, for the importation of cannabis into Australia for research purposes. The Permits were granted to the Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland and allow PACE to import shipments of cannabis plant material for research purposes. Aurora, in turn, has received the required Canadian permits to export the cannabis to PACE. The cannabis will be shipped from Canada by Aurora and used for PreveCeutical’s soluble gel drug delivery research program, which is being conducted by PreveCeutical’s research partner UniQuest Pty Inc. and led by PreveCeutical’s Chief Research Officer, Dr. Harendra Parekh.

Nutritional High International Inc.

Nutritional High. (SPLIF) announced it has entered into an agreement to acquire a 75% interest in cannabis producer Green Therapeutics in the State of Nevada. In conjunction with the acquisition, the company will also purchase certain lands and premises owned by Nevada-based cultivation company Meridian Companies which is utilized by Green Therapeutics. Nutritional High and Green Therapeutics have also entered into a binding lock-up agreement while purchase and sale agreements are negotiated and due diligence is completed.

Aphria Inc.

Aphria (APHQF) announced that it received a license amendment from Health Canada that provides Aphria with additional production space of 200,000 square feet, as part of its Part III expansion at its facility in Leamington, Ontario. This will more than triple the Company’s production capacity of medical cannabis from 9,000 kg annually to 30,000 kg annually.

CannaRoyalty Corp. 

CannaRoyalty (CNNRF) announced the appointment of Brent Cox to the Board of Directors of Trichome Yield Corp. a subsidiary of CannaRoyalty. Following this board appointment, the board consists of five members, four of whom are independent of CannaRoyalty. Cox is a founding partner of The Inception Companies, a private investment vehicle focused on the global cannabis market, following a number of years at The Yucaipa Companies, where he helped invest and monitor over USD$4.0 billion of private equity transactions. He currently serves on the boards of two successful vertically integrated U.S. cannabis companies, MedMen and The Pharm.

The Hydropothecary Corporation

Hydropothecary announced the addition of three new members to its management team. Roch Vaillancourt (General Counsel), Sonia Isabel (Vice-President of Sales), and Jocelyn Racine (Vice-President of Finance) bring decades of management, financial, business, and legal experience to Hydropothecary as the company strengthens its leadership in the lead-up to the legalization of adult-use recreational cannabis.


TerraTech (TRTC) gave a business update ahead of the company’s earnings. It read as follows:
Company secures $40 million investment, to be made in eight tranches of $5 million over 24 months. Capex to be directed toward the build out of the Company’s cultivation, extraction and retail infrastructure in California, Nevada and New Jersey Capital injection positions the Company to leverage M&A opportunities and ramp its sales and marketing strategy 1 for 15 reverse split to be effected on March 13, 2018, to position the Company for a potential uplisting.

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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