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StaffJanuary 18, 2022
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6min7490

It’s time for your Daily Hit of cannabis financial news for January 18, 2022.

On The Site

Index

Cannabis companies may be reporting record sales in some cases, but investors wouldn’t think that based on the stock prices. The fourth quarter was challenging for a number of reasons ranging from a fast expansion of stores in some provinces in Canada, disappointments in legislation for new cannabis states, and overwhelming debt clouding some company outlooks. In addition, there were companies reporting slowing sequential sales and that was enough to cause many investors to throw in the towel. You can read the entire report here

Charlotte’s Web

National supplements retailer GNC is going to start selling Charlotte’s Web Holdings (OTC: CWBHF), Inc. full spectrum hemp extract products. Initial shipments of six varieties of Charlotte’s Web Gummies will be available for purchase at GNC retail locations across 24 states, with the intent to expand into additional states.

“To best reach and serve consumers we rely, in part, on strong partnerships with proven mass retail partners,” said Jacques Tortoroli, Chief Executive Officer of Charlotte’s Web. “GNC’s established retail footprint adds depth to our reach domestically and broadens consumer access to our high-quality hemp CBD products. We expect GNC will become one of our largest retail customers this year, and we are excited about the growth provided by bringing our two leading brands together.”

Tech

Using data gathered through research to more effectively develop products that meet consumer needs is not new, but a promising innovation, at least for the cannabis industry, is using Artificial Intelligence to streamline and enhance not only the research but development processes. Nancy Whiteman, CEO of Wana Brands (one of the cannabis companies currently utilizing AI for R&D purposes in collaboration with The Effects Lab by budboard) is enthusiastic about AI’s potential. “Instead of creating a product and then waiting to hear from consumers whether it hits the mark, we are starting by looking at data across thousands of user reports to identify terpenes and cannabinoids that deliver a specific effect, then integrating those into our case-specific products.” Wana Brands will be teaming up with Canopy Growth (NASDAQ: CGC) in the future due to a deal agreed upon in October. 

In Other News

MariMed

 MariMed, Inc. (OTCQX: MRMD) signed a definitive agreement to acquire Green Growth Group, Inc. holder of a provisional Cannabis Craft License in Illinois. For this Craft License, the Company will acquire a building to develop up to 14,000 square feet of canopy for cultivation, build an extraction lab to produce concentrates, and build a production kitchen for the manufacture of edibles and other derivative products. A Transportation License also being acquired will enable the company to wholesale its products throughout Illinois. the price was not disclosed.

The company said it intends to manufacture and distribute in Illinois its proprietary brands and products, including its Betty’s Eddies® fruit chews, which was one of the top-selling edibles in the state until 2019 through a third-party licensing agreement, its award-winning Nature’s Heritage® flower and concentrates, its Bubby’s Baked™ soft and chewy baked edibles, and more.

Columbia Care

Columbia Care Inc. (CSE: CCHW) (OTCQX: CCHWF) has hired Derek Watson as Chief Financial Officer. Derek brings more than 30 years of finance and leadership experience to the role, including in strategy, investor relations, information technology, tax, treasury, accounting, financial planning and analysis, operational improvement, and risk management. Prior to joining Columbia Care, Derek served as the Chief Financial and Commercial Officer at Tastes on the Fly, a private equity-backed, national consumer retail company based in California. He has also held Chief Financial Officer roles at two other consumer companies, Starr Restaurants and Samba Brands, and as Chief Financial Officer and Vice President of Strategic Initiatives at Schindler Elevator, the U.S. subsidiary of Schindler Holding AG (SCHN.SW).


StaffJanuary 13, 2022
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3min4690

Up and coming cannabis delivery platform company Lantern announced its financial and operational results for fiscal year 2021, ending 12/31/21. Lantern reported a 350% year-over-year growth following the expansion of its on-demand marketplace delivery platform into Colorado and Michigan, two of the fastest-growing cannabis delivery markets in the U.S. In July 2021, Lantern became the first adult-use delivery platform to launch in Massachusetts and serve the Greater Boston area.

“Lantern’s record year of growth is a bellwether for the enormous potential of the cannabis delivery market -especially considering how consumer adoption of delivery services increased by 25% throughout the country,” said Meredith Mahoney, Co-Founder and CEO of Lantern. “Our team is eager to leverage our current momentum and foster deeper relationships with additional local partners to bring accessible and personalized cannabis retail experiences to an ever wider audience in the upcoming year.”

Lantern said it has secured partnerships with numerous local dispensaries and couriers, including Sanctuary, Cultivate, Freshly Baked, NETA, Garden Remedies, Insa, and Theory Wellness. In Michigan, where Lantern was first-to-market in both Detroit and Grand Rapids, the company has partnered with leading dispensaries such as High Profile, and Joyology over the past year.

In October 2021, Lantern officially transitioned to a separate corporate entity and received $40 million in capital from its former sister company, Drizly Group -the largest on-demand alcohol marketplace in the United States-after Uber finalized its acquisition of Drizly. In February 2021, Uber announced an agreement to acquire Drizly for approximately $1.1 billion in stock and cash.

Drizly was co-founded by Justin Robinson in 2012 and is currently the largest on-demand alcohol marketplace in the United States. Under his leadership, Drizly’s network grew to over 5,000 retailer partners that reach 235 over markets across North America. In 2015, Justin was named to Forbes’ prestigious 30 Under 30 List under the Food and Wine category. Lantern, which was incubated out of Drizly, launched in May 2020 and uses Drizly’s leading marketplace technologies and operational expertise to support best-in-class consumer and retailer experiences.


StaffJanuary 13, 2022
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3min5070

Cannabis industry hiring platform Vangst has completed a $19 million Series B financing. Vangst said it plans to use the money to expand its platform into new markets to support the influx of jobs. Vangst also said it will use this infusion of capital to launch products that support both cannabis businesses and employees, including training and employee payment solutions. Cannabis employment is expected to grow over 100% by 2025.

“The cannabis industry is one of the fastest-growing industries and job creators in the world, and Vangst is defining how cannabis businesses attract and hire talent in a brand new industry,” said Karson Humiston, Founder and CEO of Vangst. “We are incredibly excited for the opportunity to help thousands of people land their dream job in the cannabis industry.”

Vangst’s latest round of financing highlights the company’s growth over the last three years alongside the maturing cannabis industry. In the past 12 months, the sector reported a 25% increase in full-time employees and currently employs over 400,000 individuals.

Vangst currently works with 1,200 of the leading cannabis businesses, including Green Thumb Industries, Dutchie and Holistic Industries. The Vangst platform streamlines the hiring process by matching both full-time employees as well as vetted, credentialed, W2, on-demand GIG workers, with cannabis businesses across the U.S. As the first and only gig platform in cannabis, Vangst has filled over 150,000 part-time gigs since launching the product in 2018.

The round was led by Level One Fund, with participation from previous investors including Lerer Hippeau, Colle Capital, Casa Verde Capital, Phyto Partners, and new investors including L2 Ventures, Althea, Delta Emerald Ventures, Achari VC and others.

“Cannabis is an undeniably large and fast-growing market, and Vangst is the only company offering scalable recruitment solutions tailored for the industry’s unique needs,” said James Stewart, Managing Partner at Level One Fund. “Few, if any industries, share the constant state of flux and unpredictability that cannabis has, and consequently, there are only a handful of founders equipped to handle the challenges that come with it. Vangst is not only an extremely effective solution to these challenges, but its founder is a true force of nature. We are proud to lead this round and support Vangst as it continues to be a crucial utility to the entire industry.”


StaffJanuary 12, 2022
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5min6090

This is your Daily Hit of cannabis financial news for January 12, 2022.

On The Site

Leafly

Leafly Holdings Inc. and cannabis SPAC Merida Merger Corp. I (NASDAQ: MCMJ) (a special purpose acquisition company sponsored by Merida Capital Holdings) announced that it has entered into a $30 million convertible note purchase agreement with new investors led by Cohanzick Management LLC and affiliates, an investment management firm. This supplemental financing, which will close immediately prior to the closing of the proposed business combination between Leafly and Merida, will help to ensure full funding of Leafly’s current multi-year business plan. The stock was jumping almost 18% in pre-market reading to lately sell at $9.97.

Viola

Michigan-based Viola Brands announced the closing of a $13 million equity funding round. The company said this latest round of funding will allow it to expand into several key new markets, including Pennsylvania, Illinois, New Jersey, and Maryland, and continue executing on strategic marketing initiatives, further positioning Viola to be one of the top brands and operators in the rapidly growing cannabis industry. Viola also said it is considering raising additional capital aimed at increasing supply to meet market demand.

Audacious

Australis Capital Inc. (OTC: AUASF) also known as Audacious has entered into a definitive agreement with Golden Triangle Health (GTH) on a strategic partnership that marks the company’s first foray into the Asian market. GTH is a majority-owned subsidiary of Thai public company NRF instant PCL with a market capitalization of C$440 million. To start, Audacious will be sending CBD hemp seeds to Asia. The hemp seeds will be cultivated and used for food products as well as CBD isolate extraction. Ultimately, the partners said they plan to supply major CPG companies with B2B white label and branded products.

In Other News

Halo

Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) announced that it is strategically expanding into the functional beverage market with a proposed stock-based acquisition of a private company operating as H2C Beverages and the entering into of a distribution and manufacturing agreement with Elegance Brands Inc. Pursuant to the terms of the Distribution Agreement, Elegance has agreed to purchase $30 million of Halo’s H2C and Hushrooms branded products during the 24-month period following the launch of the products and to distribute these products to retail outlets in respective legal states across the United States. The H2C Acquisition is expected to provide Halo with a toehold in one of the fastest-growing sectors of the cannabidiol market, estimated to account for $16 billion in U.S. sales by 2025, according to Brightfield Research1, as well as to directly participate in rising consumer consciousness toward the health benefits of consuming small doses of cannabinoids and functional mushroom extracts paired with adaptogens. H2C’s product portfolio includes a line of premium flavored waters that are nano emulsified to maximize absorption and other plant-based beverages infused with cannabinoids, functional mushroom extracts with fulvic and humic minerals from the Rocky Mountains.


StaffJanuary 12, 2022
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4min5610

Michigan-based Viola Brands announced the closing of a $13 million equity funding round. The company said this latest round of funding will allow it to expand into several key new markets, including PennsylvaniaIllinoisNew Jersey, and Maryland, and continue executing on strategic marketing initiatives, further positioning Viola to be one of the top brands and operators in the rapidly growing cannabis industry. Viola also said it is considering raising additional capital aimed at increasing supply to meet market demand.

“We’re looking forward to a big 2022. The team at DelMorgan has always supported our vision and continues to be great partners for us as we bring Viola to new markets.” – Al Harrington, Co-Founder & CEO of Viola.

Viola closed on a $16 million funding round led by Gotham Green Partners 2019. Viola is the leading Black-owned producer and licensed wholesaler of premium cannabis products rooted in purpose. Founded in 2011, NBA veteran Al Harrington was inspired to launch the brand by his grandmother, Viola, who suffers from glaucoma and diabetes and found solace in cannabis remedies. The brand integrates the latest cutting-edge technology with its own proprietary processes designed for every stage of cultivation, extraction and production. Viola is known for its wide variety of product offerings, from high-quality flower to premier butane extracts. From regulation to representation and reform, Viola’s mission is to create opportunities for communities of color in the cannabis industry.

Viola products are now available in select Oklahoma dispensaries, and vape cartridges and pens are now available in select Colorado dispensaries. In July, Viola announced a partnership with NBA Legend Allen Iverson. The icon and people’s champ entered into a multi-year partnership that spans cannabis, product, and merchandise with Viola. Viola has a dispensary in Detroit and a partnership for dispensaries in Missouri with former NBA player Larry Hughes. Viola Missouri or VMO was awarded four licenses which made them one of 11 fully integrated cannabis operators in the state. VMO also stands as the only Black-owned and operated cannabis company in Missouri

DelMorgan & Co., an internationally recognized investment banking firm headquartered in Santa Monica, California, acted as an exclusive strategic transaction advisor to Viola in connection with the transaction.

Rob Delgado, Chairman of DelMorgan, commented, “Al Harrington has proven himself to be a visionary in the Cannabis industry, demonstrating an ability to execute on initiatives that resonate deeply with today’s popular culture and consumers.”  Neil Morganbesser, President & CEO of DelMorgan, noted, “This investment is transformative, allowing Viola to significantly accelerate its expansion nationwide as one of the most iconic brands in cannabis.”  Chris Delgado, Senior Managing Director at DelMorgan, added, “Under Al Harrington’s leadership, Viola has demonstrated how a commercially successful brand can benefit from a mission-driven focus. This mission and focus will be further strengthened through this investment.”

Check out our interview with Harrington in 2019 here.

 


StaffJanuary 12, 2022
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3min10170

Australis Capital Inc. (OTC: AUASF) also known as Audacious has entered into a definitive agreement with Golden Triangle Health (GTH) on a strategic partnership that marks the company’s first foray into the Asian market. GTH is a majority-owned subsidiary of Thai public company NRF instant PCL with a market capitalization of C$440 million. To start, Audacious will be sending CBD hemp seeds to Asia. The hemp seeds will be cultivated and used for food products as well as CBD isolate extraction. Ultimately, the partners said they plan to supply major CPG companies with B2B white label and branded products.

“We continue to execute and deliver growth, as will be materially shown by this agreement,” said Booth. “Through the distribution channels that GTH and their parent company bring, we anticipate being able to rapidly expand in this very promising market with a broad portfolio of products. The market in Thailand is anticipated to take off in the coming year, while other countries in the region are considering various degrees of legalization as well. Through our early mover advantage and our partner’s deep connections, AUDACIOUS is positioned very well to pursue rapid expansion in this region with enormous potential.”

Thailand became the first East Asian nation to legalize medical marijuana in 2018. Its law permits and regulates the use of medical marijuana. A new law took effect on December 9, 2021 that allows residential households to grow cannabis with no restrictions of how many plants each household can grow.

Tom Kruesopon, a co-founder of GTH, added, “The partnership with AUDACIOUS further strengthens our operational capabilities in the cannabis space, adding very valuable equity to our brand positioning. We have many opportunities and are leveraging our network of international distribution contacts to execute rapidly and build the leader in the Asia-Pacific cannabis market.”

Max Weinberg, Director of International Regulatory Affairs for AUDACIOUS, said, “We are proud of being the first North American firm to ship seeds for CBD production to Asia, marking a milestone that kicks off our revenue generating initiatives in the region. We anticipate engaging in more such transactions in the near future.”


StaffJanuary 11, 2022
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7min5050

It’s time for your Daily Hit of cannabis financial news for January 11, 2022.

On the Site

Organigram

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) delivered its results for the first fiscal quarter ending November 30, 2021, with revenue increasing 57% to $30.4 million, from $19.3 million for the same time period last year. This beat the Yahoo Finance average analyst estimate for revenue of just $23.9 million. Organigram said the increase was primarily due to an increase in adult-use recreational revenue and international revenue, partly offset by lower average selling price due to product mix and a decrease in medical revenue. Organigram also trimmed its net loss to $1.3 million, versus last year’s net loss of $34.3 million. The company attributed it to the higher gross margin in the current quarter along with fair value adjustments on biological assets and inventories sold.

Garden Society

Female-owned Garden Society has raised more than $7 million in Series A funding. The funding was led by RJ Primo LLC and the proceeds will be used to scale product offerings, modernize manufacturing, and further expand its team to meet the growing demand throughout California, as well as to expand into other states in 2022. Garden Society said that in addition to the primary funding, the round included an oversubscribed SPV composed of strategic female and BIPOC angel investors.

Awakn

Awakn Life Sciences Corp. (OTCQB: AWKNF) reported positive data from its Phase II A/B trial. It was the first controlled trial to investigate Ketamine-Assisted Therapy for the Treatment of Alcohol Use Disorder (AUD), the results have been published in the American Journal of Psychiatry. Awakn said the double-blind placebo-controlled trial included 96 patients with severe AUD, who were randomized to one of four groups: 1) three ketamine infusions (0.8 mg/kg IV over 40 minutes) plus proprietary manualized therapy (KARE); 2) three saline infusions plus KARE therapy; 3) three ketamine infusions plus alcohol education; and 4) three saline infusions plus alcohol education.

Pilgrim Soul

Cannabis lifestyle brand Pilgrim Soul raised $2 million in a strategic seed round from top tech, retail, and cannabis investors. The company said that the round includes investments from Merida Capital Holdings, Bee House, Meaningful Partners, serial entrepreneur and Skip-Hop founder Michal Diament, and other well-known tech entrepreneurs. Additional brand advisors and equity holders include veteran NBA player and Viola Brands founder Al Harrington, Merlin Kauffman, founder of Soothe, and former Sperry & Club Monaco CMO Ann Watson.

Field Trip

Field Trip Health Ltd. (NASDAQ: FTRP) announced that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for Field Trip’s patent application No. 17/364,047 for claims related to FT-104 (informally known as “Isoprocin Glutarate”), Field Trip’s first novel psychedelic molecule in development. FT-104 is being developed as a more efficient treatment with the experience lasting less than four hours. It has a potency and pharmacology similar to psilocybin and the cost and accessibility are also better with this compound. Claims in the allowed patent application titled, “Tryptamine Prodrugs”, cover the composition of matter, use, and manufacturing of a family of hemi-ester compounds of hydroxytryptamines, including FT-104.

In Other News

Greenlane

Greenlane Holdings, Inc. (NASDAQ:GNLN) announced that it has received approval from the United States Postal Service for a business and regulatory exception to the Prevent All Cigarette Trafficking Act, allowing Greenlane to ship vaporizers and accessories classified as electronic nicotine delivery systems products to other compliant businesses. With this new approval, over 97% of total annual sales will be eligible for shipment by freight, USPS, or major carriers, and the PACT Act’s impact will be reduced to less than 3% of annual sales.

Wesana

Wesana Health Holdings Inc. (OTCQB: WSNAF) announced that the U.S Food and Drug Administration (FDA) granted the company’s request for a pre-IND (Investigational New Drug) meeting to discuss the novel therapy and proprietary protocol of SANA-013 for the treatment of Traumatic Brain Injury (TBI) related major depressive disorder (MDD).


StaffJanuary 11, 2022
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6min5470

Female-owned Garden Society has raised more than $7 million in Series A funding. The funding was led by RJ Primo LLC and the proceeds will be used to scale product offerings, modernize manufacturing, and further expand its team to meet the growing demand throughout California, as well as to expand into other states in 2022. Garden Society said that in addition to the primary funding, the round included an oversubscribed SPV composed of strategic female and BIPOC angel investors.

Additionally, Brooke Carpenter, former head of sales for Flow Cannabis, has joined the Garden Society team as head of sales to help drive the company forward. Gore and her co-founder, Karli Warner, are active members of the California cannabis community and fearless advocates for women-owned cannabis businesses and as such wanted to make sure this fund raising effort included a diverse set of investors.

“This new capital will allow us to focus on executing our growth plans as we charge out of the post-pandemic gates,” said Erin Gore, founder and CEO of Garden Society. “Despite a crazy past two years in 2021 we were able to continue to realize rapid growth with a focus on profitability. With this infusion we can further scale production, launch new products, and hire the team to meet the demand we have worked so hard to build over the past five years.”

Last month, the company announced a new line of fast-acting, full spectrum gummies inspired by Wine Country. Incorporating a proprietary cannabis extract to enable its rapid effect, and infused with real wine concentrate, the edibles are available in three flavors: Tart Cherry Pinot Noir, Peach Prosecco, and Sparkling Strawberry Rosé. Each has a varying blend of THC + CBD that provides a desired effect, from relaxing to uplifting, in around 15 minutes.

In addition to their own products, Garden Society has utilized their manufacturing expertise to further drive revenues, collaborating with other leading cannabis brands to both bring new products to California and help current brands scale. In early 2021, the company substantially grew its production team for manufacturing pre-rolls to both meet the current demand as well as to manage other manufacturing contracts. The company also has plans to become a multi-state operator in 2022, taking an innovative approach by leading with their manufacturing expertise to bring Garden Society products to these new markets

The financing round was led by Janna Meyrowitz Turner who said, “There is a huge market opportunity for Garden Society as both a brand and as a highly reputable operator and partner manufacturer. Steady growth, a stellar reputation in California, and industry leadership, as well as investments in impact and DEI infrastructure make it a beloved company selling a product that consumers love.”

“The addition of this SPV is very meaningful to us,” said Garden Society co-founder Karli Warner. “Erin and I have always wanted to share in our success, and yet we are the ones who are already winning. Our ‘Ladies’ Slate’ is composed of amazing entrepreneurs and C-level executive women in both cannabis and mainstream industries who are already helping us build a stronger business. It’s powerful.”

 


StaffJanuary 11, 2022
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3min4980

Cannabis lifestyle brand Pilgrim Soul raised $2 million in a strategic seed round from top tech, retail, and cannabis investors. The company said that the round includes investments from Merida Capital Holdings, Bee House, serial entrepreneur and Skip-Hop founder Michal Diament, and other well-known tech entrepreneurs. Additional brand advisors and equity holders include veteran NBA player and Viola Brands founder Al Harrington, Merlin Kauffman, founder of Soothe, and former Sperry & Club Monaco CMO Ann Watson.

The company was launched in October 2020 and created The Creative Thinking Journal and premium Live Resin Vape Pens (available in California) designed to help unlock the mind and release creative flow. Pilgrim Soul said in a statement that it has brought in $5.8M in revenue through The Pilgrim Soul Creative Thinking Journals, which maintains its position as one of the top 500 best-selling books on Amazon. The book retails for $29. The brand boasts a growing database of 250,000+ consumers who see the many benefits of enjoying and using cannabis for creativity, and has received a Clio Award for its innovative cannabis packaging. Pilgrim Soul said it is tapping into a significant and growing trend in creativity. Guided journals and courses focused on creativity have seen double-digit growth each year for the last decade as categories for self-help and creativity continue to skyrocket. 

“Through my previous experiences at Stanley Bros, MedMen and Lowell Herb Co., it became clear that the next wave of cannabis brands will be vertically focused, mission-driven, and built around a strong belief system where the cannabis itself is just a portion of the total brand package,” said Shawn Gold. 

In addition to the journal, Pilgrim Soul released a line of Live Resin Vape Pens in 2021 featuring exclusive blends of the most dynamic creative strains, available at top cannabis retailers in California including MedMen and Sweet Flower. In partnership with the scientists at AbstraxLabs, Pilgrim Soul analyzed 100+ cannabis strains that index high for creativity, along with secondary and tertiary states of mind. After identifying each strain’s common cannabinoid and terpene profiles, they developed a matrix to blend select strains to enhance a particular type of creative thinking, including Creative Awareness, Creative Imagination, Creative Focus, and Creative Reflection. 


StaffJanuary 10, 2022
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5min4010

It’s time for your Daily Hit of cannabis financial news for January 10, 2021.

On The Site

Tilray

Tilray, Inc.  (Nasdaq: TLRY) stock is popping over 11% in early trading as the company turned in a solid earnings report for the second fiscal quarter ending November 30, 2021. As shares were lately trading at $7.25, Tilray reported revenue increasing approximately 20% to $155 million versus last year’s $129 million for the same time period. However, analysts had estimated Tilray would report revenue of roughly $170 million causing the company to miss expectations for the second quarter in a row.

Tilray outlined the increases with a 7% growth in cannabis revenue to $58.8 million, net beverage alcohol revenue of $13.7 million from SweetWater, and wellness segment revenue of $13.8 million from Manitoba Harvest. The net income increased to $6 million from a net loss of $89 million in the previous year’s quarter. The earnings per share came in flat, which did beat analysts’ estimates that ranged from a loss of ($0.08) to a loss of ($0.13.)

Virginia

Even as cannabis companies are making lots of noise about their social equity actions, Republicans are quickly moving to strip out any efforts to level the playing field. The latest move is by Virginia’s legislation. The state’s SB107 was filed on January 6 and is scheduled to be offered on January 12, 2022. What is notable about the legislation is that 30% of the tax revenue was originally carved out to go to the Cannabis Equity Reinvestment Fund established pursuant to § 2.2-2499.8 and instead is being directed to the general fund. Sources told Green Market Report that legislators were calling the program, “give a felon a license.”

Paul McLean of the Virginia Minority Cannabis Coalition one of the most respected new voices within the Virginian cannabis industry said, “The SB107 appears to be the first move in dismantling social equity in Virginia. Having funding is essential to the success of an equity program, and eliminating that funding is a slap in the face to those who have worked so hard to ensure Virginia has a healthy and equitable cannabis market. Part of what VMCC is doing with our boot camps is providing funding connections to graduates because of the systemic lack of funding opportunities overall and primarily Black and Brown entrepreneurs, especially those impacted by the war on drugs. We know that our elected officials can do better, and Virginians must demand they do what is fair for their constituents.”

In Other News

Jushi

Jushi Holdings Inc.(OTCQX: JUSHF) announced that Chief Executive Officer, Chairman, and Founder, Jim Cacioppo, has purchased 66,800 Class B Subordinate Voting Shares of the company in the open market for an approximate amount of$220,000. Jim holds in the aggregate, approximately 19.2% of the issued and outstanding Subordinate Voting Shares (calculated in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and on a non-diluted basis).

MindMed

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the resignation of Stephen Hurst from his role as a Director of the Company’


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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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