Staff, Author at Green Market Report - Page 2 of 38

StaffStaffApril 9, 2019
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9min500

Former Geisel School of Medicine at Dartmouth Clinician and Researcher Brings Expertise in Clinical Cannabinoid Therapeutics to Guide Multi-State Cannabis Operator

 

NEW YORK, April 09, 2019 /AxisWire/ Acreage Holdings (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF), today announced the appointment of Corey Burchman, MD as Chief Medical Officer. Dr. Burchman will oversee development of an Acreage medical advisory board, assist in developing patient outreach programs, and serve as medical risk mitigator to the company’s product development and innovation. Additionally, Corey will cultivate important relationships with regulatory partners and patient advocacy groups, and drive medical education and engagement throughout the company. Dr. Burchman will report to Chief Operating Officer, Bob Daino.

“Corey is a nationally recognized expert on clinical cannabinoid therapeutics and has chaired multiple national and international conferences on the use of medical cannabis for therapeutic purposes. He is the perfect fit for this critical position and will play an instrumental role in helping Acreage deliver on our mission of bringing safe, affordable cannabis to anyone who needs it,” said Acreage Chairman and CEO, Kevin Murphy

Prior to joining Acreage, Dr. Burchman served as Assistant Professor of Anesthesiology and Pain Medicine at the Geisel School of Medicine at Dartmouth, in Lebanon, NH. At Dartmouth-Hitchcock Medical Center, he directed the Section on Neuroanesthesia, the Post Anesthesia Care Unit, and the Same Day Surgical Program. Additionally, he was an Attending Physician on the Acute Pain Service. Dr. Burchman also served as Medical Advisor to the Board at Prime Alternative Treatment Center of New Hampshire, a therapeutic cannabis dispensary.

Dr. Burchman is an author of a May 2017 study that found a significant reduction in use of opioids, antidepressants and alcohol for pain, anxiety and sleep among medical cannabis patients in New England. Published in the Journal of Psychopharmacology, it remains one of the largest studies of its kind.

On joining Acreage Dr. Burchman said, “In my role as Chief Medical Officer, I hope to bring my experience in clinical cannabinoid therapeutics as the basis for developing strong patient outreach programs, and building relationships with advocacy groups and partners. Working with Acreage allows me to further a theme that has anchored my entire career—patient safety—in an industry that has the capacity to change lives for the better across the country.”

Dr. Burchman received his medical degree from George Washington University School of Medicine and his residency and fellowship training at Harvard Medical School, the Massachusetts General Hospital and the Brigham and Women’s Hospital. He has been actively involved in teaching medical residents, medical research, and administering clinical care for over 33 years. He is a US Navy veteran of 13 years.

ABOUT ACREAGE HOLDINGS
Headquartered in New York City, Acreage is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis related licenses, according to publicly available information.  Acreage owns licenses or has management services agreements in place with license holders to operate in 19 states (including pending acquisitions) with a population of more than 172 million Americans, and an estimated 2022 total addressable market of approximately $14 billion in legal cannabis sales, according to Arcview Market Research.  Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.  Acreage’s national retail store brand, The Botanist, debuted in 2018.

FORWARD LOOKING STATEMENTS
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information, including, for greater certainty, statements regarding expanding our industry-leading footprint, rolling out a national brand, pending legislation, opening of new cannabis markets and the commencement of Oklahoma operations in 2019. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Acreage’s current beliefs and is based on information currently available to Acreage and on assumptions Acreage believes are reasonable. These assumptions include, but are not limited to: market acceptance and approvals. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Acreage to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation affecting Acreage; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labor or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Acreage’s disclosure documents, such as Acreage’s listing statement filed on November 14, 2018, on the SEDAR website at www.sedar.com. Although Acreage has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Acreage as of the date of this news release and, accordingly, is subject to change after such date. However, Acreage expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.  The Canadian Securities Exchange nor its Regulation Service Provider has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Investor Contact:

Steve West
Vice President, Investor Relations
Investors@acreageholdings.com
646-600-9181

Media Contacts:

Howard Schacter
Head of Communications
h.schacter@acreageholdings.com
646-600-9181

 

 


StaffStaffApril 9, 2019
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5min830

RELEAF APP PROVIDES RESOURCES FOR MEDICAL CANNABIS PATIENTS TO RECEIVE CERTIFICATIONS, COACHING, AND CONSULTATIONS

Philadelphia, Pennsylvania /AxisWire/ – Releaf App, the real-time data collection tool providing patients, businesses, and medical professionals with efficacy insights regarding their use of cannabis as-a-medicine, has introduced a new app update to provide patients and app users with the ability to book appointments with certified doctors, health coaches, and wellness consultants across the United States and Canada.

The Releaf App is a free app available for download in the Apple Store or on Google Play. The new “Book a Consultation” feature gives patients and app users direct access to doctors and medical cannabis coaches who are certified and available on-demand for appointment bookings virtually, or physically depending on the user’s state or region. With this new feature, patients can compare different cannabis certification groups and seamlessly engage with medical cannabis professionals who can directly consult with app users based on locality.

Leading telemedicine companies like Heally are partnered with Releaf App to provide patients with advice, guidance, and certifications from medical professionals in states like California, New York, Maryland, Florida, Ohio, Massachusetts, Connecticut, and across Canada. For patients or app users in other areas of the United States and Canada, Heally’s certified doctors can also provide general consultations and health coaching that does not result in a recommendation or patient certification.

“I am thrilled that Releaf users will be able to connect with Heally’s certified doctors, right from the app,” said Greg Rovner, CEO of Heally. “With so many new and exciting cannabis products entering the market, it makes sense to provide customers with accurate medical information and real-time advice to ensure they’re buying the right products for their needs. This partnership will undoubtedly drive better outcomes for cannabis patients.”

Releaf App CEO, Franco Brockelman, plans to make additional telemedicine partners and geographic territories available through the app within the coming weeks. “Releaf App continues to be the best free tool for patients to track, learn from, and improve their use of medical cannabis and we’re now developing new in-app solutions to further empower patients to more confidently approach cannabis as medicine,” says Brockelman. “Heally shares our patient-focused approach and has a similar mission to improve cannabis healthcare, so it made a lot of sense to form this partnership and expand the services and support we each provide patients”.

Releaf App plans to announce additional app updates in 2019 aimed at closing the data-feedback loop that exists between grower-processors and licensed producers, retail operators, healthcare professionals, caregivers, and cannabis consumers. Download the Releaf App in the Apple Store or on Google Play today. If you are interested in being a Releaf Affiliate contact the Releaf App team at contact@releafapp.com.

About Releaf App

MoreBetter is a big data company providing information as a service and answers as a service solutions to inform and educate patients, businesses, and medical professionals on the efficacy of cannabis as-a-medicine. MoreBetter empowers patients, business, and healthcare professionals in the supply chain with actionable data-backed insights that cultivators, manufacturers, retailers, and consumers use to track and improve industry standards and procedures. MoreBetter collects real time consumer reported treatment outcomes and product effectiveness data via a free mobile app. MoreBetter’s mission is to close the data feedback loop that exists between consumers, businesses, healthcare professionals, and researchers regarding medical cannabis.

About Heally

Heally connects consumers, licensed medical professionals and natural alternatives into one ecosystem. Using Heally, one has the ability to visit with a doctor online, and purchase the most effective wellness products for their needs.


StaffStaffApril 9, 2019
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4min1790

Cartagena, Colombia, April 9, 2019 /AxisWire/ Today, Expo Cannabiz Business Conference 2019 organizers announced additional details about the Conference’s international schedule of speakers and sponsors in anticipation of one of the year’s largest American cannabis events, attracting attendees and investors from North and South America to Hotel Cartagena and the Cartagena Convention Center May 9-11, 2019. The Expo promises unparalleled networking, education, investment, and business opportunities, with a variety of tiered attendance options available.

The three-day weekend event, held in the beautiful Caribbean port city of Cartagena, Colombia, has two key components: a cannabis investor forum scheduled throughout the day on May 9, followed by a two-day business conference May 10-11.

The Investor portion of the Expo, to be held at Hotel Cartagena, features a Cannabis Investing Forum and Investor Pitch Contest with awards; networking opportunities throughout the day, including during the breakfast, lunch, and refreshment breaks; keynote speakers, guest speakers, speaker panels, and industry sessions; as well as special access to cannabis investment experts for all attendees. This daylong event promises special opportunities and is particularly relevant to new and aspiring business owners, venture capitalists, angel investors, wealth managers, financial planners, and accredited investors. A selection of attendance passes is available, including bundled passes for all events, as well as pre-approved investor passes (free of charge) for the May 9 investor program.

The Expo Cannabiz Business Conference segment of the Expo on May 10-11 at the Cartagena Convention Center includes a full slate of leading cannabis business leaders on its speaker agenda. Among those scheduled to speak is former Mexican President Vicente Fox, now a drug-legalization activist in Latin America with an eye toward supplying cannabis products to emerging markets in Latin America. Fox is a board member of and advisor to Khiron Life Sciences Corp., which is poised for extensive sales throughout Latin America this year. The Toronto-based company recently partnered with Colorado-based Dixie Brands with plans to market products utilizing cannabis grown in four South American countries; marijuana activist and business leader Steve DeAngelo, a well-known cannabis-industry leader and commentator in the United States, DeAngelo is known as “The Father of the Cannabis Industry” and is owner and founder of Harborside, a leading dispensary in California; alternative agriculture and holistic health-industry expert Jennifer Sanders, a Harvard Business School graduate with private equity expertise. Sanders is a founder of CNS Equity Partners and an avid philanthropist. In 2018, she made the largest cannabis medical research donation in North America to the University of California, Los Angeles (UCLA) Cannabis Research Initiative through her company, AURA Ventures.

 

Attendee and exhibitor space are limited. Register today at https://www.expocannabiz.com/#/index.

For additional information, contact Brad Turner at (310) 663-1434; brad.turner@expocannabiz.com.


StaffStaffApril 8, 2019
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4min1530

It’s time for your Daily Hit of cannabis financial news for April 8, 2019.

On The Site

POSaBIT

Seattle-based fintech company, POSaBIT began trading this morning on the CSE under the ticker PBIT.  The company that serves cannabis retailers by delivering bitcoin-enabled payment processing and point-of-sale systems, with built-in compliance features customized to the state each retailer operates in.

For the nine months ending Sept. 30, 2018, the company generated $1.39 million in revenue, a 266% increase over the prior year for the same time period. The company said that pursuant to private placement financings undertaken in conjunction with the listing, POSaBIT generated gross proceeds of $1.3M. The company’s footprint includes California, Nevada, Oklahoma, Colorado, and Washington.

In Other News

1933 Industries

Cultivator and producer of cannabis flower 1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF) signed a licensing agreement dated April 3, 2019 between House of Hawk, LLC and the company’s subsidiary, Infused MFG, LLC for the launch of several co-branded CBD wellness products for a two-year term in North America.

Chris Rebentisch, USA COO and Founder of Infused stated, “It’s truly an honor to be working with Tony Hawk’s Birdhouse Skateboards™ brand and their incredible organization. Birdhouse team members Clive Dixon, Ben Raybourn, David Loy and Clint Walker will help support the new partnership via social media. The opportunity of offering our sports recovery products under a partnership with Hawk’s brand Birdhouse adds credence to our brand. Tony is an internationally recognized action sports figure and responsible for fuelling the growth of skateboarding as a professional sport.” Mr. Rebentisch added, “Infused recognizes that the action sports vertical is an underserved market. Our mission is to offer the best of breed recovery products in the market today and we look forward to working with Birdhouse in this endeavour.”

Mr. Tony Hawk remarked, “We’re excited to be a part of this new movement that is becoming more recognized as a healthy alternative to recovering from the aches and pains that we regularly incur in the action sports world. And we couldn’t be happier to join forces with Canna Hemp™, an established and trusted partner with an expertise in this market.”

Greenlane

Greenlane Holdings, Inc.  has commenced an initial public offering of 5,333,333 shares of its Class A common stock, of which Greenlane will be offering 4,666,666 shares and the selling stockholders will be offering 666,667 shares. In addition, the selling stockholders will also grant the underwriters a 30-day option to purchase up to an additional 800,000 shares. The price range for the initial public offering is currently estimated to be between $14.00 and $16.00 per share. Greenlane has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “GNLN.”

Cowen and Canaccord Genuity are acting as joint-lead bookrunners for the proposed offering. Ladenburg Thalmann & Co. Inc., Roth Capital Partners and Northland Capital Markets will act as co-managers for the proposed offering.


StaffStaffApril 8, 2019
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4min3010

Seattle-based fintech company, POSaBIT began trading this morning on the CSE under the ticker PBIT.  The company that serves cannabis retailers by delivering bitcoin-enabled payment processing and point-of-sale systems, with built-in compliance features customized to the state each retailer operates in.   POSaBIT has enhanced its payment service offering by developing incremental features to sell and accept both Litecoin and Bitcoin for purchases, as well as perform EMV card compliance on debit card transactions.

“This is a significant achievement for POSaBIT and we are proud to make this important transition from the private to the public markets,” said Ryan Hamlin, co-founder, and CEO of POSaBIT. “The past year has been an exciting one for the company, marked by a series of milestones. We continued to expand geographically in the California, Colorado, and Washington markets successfully completed the acquisition of DoubleBeam, and rolled-out a fully-integrated POS and payments platform that fulfills an unmet need in the cannabis industry. Our service is now in use at over 120 cannabis merchants across various US states. We are pleased with our traction in the market, as demonstrated by our strong year-to-date growth, and are very encouraged by the continued momentum we saw as we closed out 2018.”

For the nine months ending Sept. 30, 2018, the company generated $1.39 million in revenue, a 266% increase over the prior year for the same time period. The company said that pursuant to private placement financings undertaken in conjunction with the listing, POSaBIT generated gross proceeds of $1.3M. The company’s footprint includes California, Nevada, Oklahoma, Colorado, and Washington.

POSaBIT brings its deep retail, food service, and hospitality expertise to the cannabis sector. It has processed $76M in payments in the hospitality industry in 2017. In February 2018, the company acquired DoubleBeam, which specializes in POS payment processing for the Hospitality sector.

POSaBIT designed and released a new front-end POS console that is suited for cash-only merchants such as the cannabis industry. This entirely new console offers an array of key features, including loyalty programs, in-store digital menus, online ordering / in-store pickup, inventory management, state seed-to-sale compliance, and customizable discounts.

POSaBIT also completed all of the necessary state requirements to support the Leaf system, a seed-sale track and trace software system used by regulators in the State of Washington. POSaBIT offers built-in state compliance – a key component that minimizes risk for owners as they navigate new legal footing. With rich data analytics and reporting, owners more effectively keep track of budtender and product performance, on average resulting in doubled ticket sales.


StaffStaffApril 5, 2019
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3min3180

Sunniva Inc.  (CSE: SNN) (OTCQB: SNNVF) reported preliminary revenue of C$14.0 million for the quarter ending March 31, 2019.  This represents a 169% increase over the C$5.2 million in revenue generated for the same time period in 2018. The company did not release any pross or net profit figures, but it did state that full figures for the fourth quarter and full-year 2018 would be released on April 29. The official first quarter results will be reported by May 30.

The company said that gross profit margins for the first quarter were expected to be between 30-35% due to operational ramp-up costs in California.  Sunniva reiterated that its 2019 revenue estimate in California through CP Logistics of $72$78 million (USD $55$60 million), with an estimated gross margin of 40-50%. However, the estimate did not include revenue from FSD, the Sunniva California Campus or NHS.

“In California, we now have the strategic pillars in place to ensure scalability and growth for our newly announced brands and we are very proud of our entire team for the execution and delivery of a very strong first quarter,” said Dr. Anthony Holler, CEO of Sunniva. “Our $14.0 million in revenue during the first quarter is close to the total revenue generated by Sunniva in all of 2018. With strong leadership and operating assets producing premium cannabis products, supported by our recent distribution company acquisition, we continue to demonstrate our ability to achieve significant revenue growth and secure shelf space for our Sunniva brands throughout the state.”

In California, Sunniva began selling cannabis products in the first three months of 2019 through its wholly-owned subsidiary, CP Logistics, LLC with preliminary revenue of C$10.0 million (USD $7.5 million). The company reported that revenue came from the sales of premium flower, vape cartridges and concentrates. In March, Sunniva unveiled its first three in-house brands, Sun Fire, KYNDNESS and Herbella, and announced that additional super premium brands would be launched in conjunction with production from the 325,000 sq. ft. purpose-built greenhouse under construction in Cathedral City, California.

Sunniva said that its other wholly-owned subsidiaries, Full-Scale Distributors, LLC, and Natural Health Services Ltd., contributed first quarter 2019 revenue of $2.3 million and $1.7 million, respectively.

 


StaffStaffApril 4, 2019
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9min2210

Cannabis private equity fund Merida Capital Partners has launched its third fund for $200 million, which will focus on concentrated, high conviction investments in leading companies in the cannabis ecosystem. The company said that since launching its first fund in late 2016, it has deployed nearly $80 million across its first two funds and now has more than $125MM under management.

The company counts a portfolio of 25 investments through public listings for GrowGeneration, Vireo Health, and CB2 Insights as well as leading investments in public companies KushCo Holdings and Freedom Leaf Health.

“As Merida transitions to our third fund, we continue to define our thesis through the depth of our information gathering and synthesis, our focus on ecosystem connectivity, portfolio company governance and identifying opportunities that offer asymmetric upside returns to our investors,” said Mitch Baruchowitz, Merida Capital Partners Managing Partner. “Through the knowledge gained from investments made in Funds I and II, our incredible team of investment professionals will continue to implement our strategy of risk-mitigated investments in leading companies throughout the cannabis industry.”

In addition to announcing the new fund, Merida said it was also expanding its international operations by opening an office in Toronto, Canada to go with its New York flagship office and satellite offices in San Francisco and Bethesda, Maryland.

“Having met the Merida team shortly after the launch of Fund I, I have been able to watch Merida thoughtfully navigate the challenges of the cannabis industry as both an investor and a member of Merida’s Investment Committee,” said Danny Moses, Merida Capital Partners Investment Committee Member. “The amount of research and diligence performed on both potential and current investments, including deal structure and corporate governance, is where Merida truly excels. I am excited to continue my work on the Investment Committee with the rapidly growing team as they launch Fund III.”

In addition, the firm announced the expansion of its team with three new key hires, which brings the firm’s total employee count to 19.

Dr. Deb Kimless, Chief Scientific Officer

Dr. Deb Kimless, an expert on cannabinoid research and cannabis-based medicines, has joined Merida as its Chief Scientific Officer, overseeing Merida’s research efforts as well as identifying opportunities in the life sciences and biotechnology verticals. Dr. Kimless is a board-certified anesthesiologist with a subspecialty in pain management and holds a B.S. in Natural Sciences and Biology from Muhlenberg College and an MD from Rutgers University.

Matthew Bartlett, West Coast Operating Partner

Matthew Bartlett recently joined Merida as its West Coast Operating Partner responsible for overseeing Merida’s portfolio of consumer products companies. Bartlett most recently founded Garden Society, a boutique Sonoma County-based cannabis operator. He previously managed global logistics and supply chain for Costco’s Kirkland Wine & Spirits, along with and several multi-nationally distributed Napa, Sonoma and California premium and luxury wine brands. Matt also established the Wine Division for Bank of Marin (NASDAQ: BMRC); was Vice President at American AgCredit, a part of the National Farm Credit System; and was a Vice President and Regional Manager in Capital Markets Finance for HSBC.

David Lubotta, Partner

David Lubotta has joined Merida as a Partner and will oversee Merida’s Canadian efforts from its new Toronto office. David brings 25 years of Canadian institutional finance experience to Merida, including participation in numerous financings and M&A transactions in cannabis companies such as: Green Therapeutics, Nutritional High, Green Rush, Emerald Family Farms, and Xanthic Biopharma Inc., which was recently purchased by Green Growth Brands.  David holds an MBA from Northwestern Kellogg School of Management.

 


StaffStaffApril 3, 2019
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6min1970

It’s time for your Daily Hit of cannabis financial news for April 3, 2019.

On The Site

Aurora Cannabis

Aurora Cannabis Inc.  (TSX: ACB) (NYSE: ACB)  filed a preliminary short form base shelf prospectus $750 million during the 25 month period that the shelf prospectus is effective.

“Although we have no immediate intention of drawing capital against this Shelf Prospectus, we have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy,” said Michael Singer, Executive Chairman. “With our recent listing on the NYSE, our successful financing in January 2019 led by U.S. institutional investors, and as we work with Nelson Peltz to explore potential partnership opportunities, this filing is a natural evolution for our company as we rapidly mature into a global and profitable organization.”

High Times

Hightimes Holding Corporation has hired Kraig Fox as President and Chief Executive Officer. Fox will oversee the company’s portfolio of global media, events and licensed properties. Adam Levin, who has served as High Time’s CEO since its acquisition by Hightimes Holding Corp in 2017, will now serve as the company’s Executive Chairman.

The announcement of Mr. Fox comes as High Times is raising capital through its Regulation A+ funding initiatives in cannabis history in preparation for the public listing of its shares, expected later in 2019.

In Other News

MediPharm Labs Corp.

MediPharm Labs Corp. (LABS.V) (MLCPF) (MLZ.F) reported fourth-quarter 2018 revenue of C$10.2 million, commencing November 12th after receipt of sales license from Health Canada. Gross profit of C$4.0 million, gross Margin 39% and adjusted EBITDA(1) of C$2.1 million, Adjusted EBITDA(1) margin of 21%. The net loss for the quarter was C$3.5 million. The revenue for the full-year 2018 was C$10.2 million, but the net loss for the full-year 2018 was C$8.5 million.

2019 Year-to-Date Highlights

  • Executed Private Label Sales Agreements in place valued in excess of $85 million over the 15-month period from December 2018
  • Executed large Private Label cannabis oil sale for $35 million with an additional $13.5 million purchase option over 13-month period
  • Signed a 3-year Tolling Agreement with TerrAscend Corp.

Vibe Bioscience Ltd.

Vibe Bioscience Ltd. Announced that its common shares began trading on the Canadian Securities Exchange under the symbol “VIBE” at market opening on April 3, 2019.

Vibe also executed a purchase agreement to acquire all of the membership interests in the outstanding securities of EVR Managers, LLC, which holds a license for an adult use cannabis retail operation located in Redding, California.

Vibe Highlights

  • Two cash flow positive adult-use dispensaries in Sacramento and Stockton, California with two additional dispensaries set to open in the second half of 2019;
  • A cultivation site in Sacramento and a distribution center under development in Sacramento with a distributor temporary license which provides authority to distribute cannabis products on a state-wide basis;
  • A purchase agreement to acquire all of the outstanding securities of NGEV Inc., which holds a cannabis cultivation and equipment facility in Crescent City, California that has historically produced cannabis flower, clones and seeds.

AgraFlora Organics International Inc.

AgraFlora Organics International Inc. (CSE: AGRA) (OTC: PUFXF), and Liberty Leaf Holdings Ltd. (CSE: LIB) (OTC: LIBFF) together have made significant advancement with respect to gaining entry into the medical cannabis market in the European Union and, as such, have formed a jointly owned Greek company, AgraLeaf SA, so as to formally capitalize on the opportunity. AgraFlora and Liberty Leaf will own an equal equity stake in AgraLeaf with specific details regarding the obligations of the Companies to be outlined in a shareholder’s agreement.  AgraLeaf has established a team in Greece consisting of personnel with expertise in commercial horticulture, government affairs, legal and finance.

iCan

iCAN: Israel-Cannabis has issued a secured convertible loan in the amount of CAD $4,000,000 to a group of investors led by Plaza Capital.


StaffStaffApril 3, 2019
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3min930

PORT RICHEY, FL, April 2, 2019 /AxisWire/ — Garyn Angel, CEO and founder of MagicalButter and inventor of the award winning MB2e botanical extractor, “MagicalButter machine,” was honored by High Times Magazine for his contributions shaping the global cannabis industry. This is the second year in a row Angel has been named High Times’ 100 Most Influential People in Cannabis.

Angels invention, The MagicalButter MB2e, is the world’s first countertop botanical extractor designed for creating recipes infusing the essence of healthy herbs into butter, oil, grain alcohol, lotions, and more. In 2012, Angel also founded the Cheers to Goodness Foundation, a unique, non-profit charity dedicated to uplifting medical refugees. The organization provides financial assistance to patients in need of specialized medical treatment, most recently donating MB2e machines to medical marijuana patients in need in the aftermath of Hurricane Maria in Puerto Rico.

“The top 100 of anything is an incredible honor, but High Times 100 Most Influential—when it’s the hottest industry in the world—really inspires us to work harder and continue to deliver products that our customers really love,” says Angel. “The DIY edibles market has really just begun, and MagicalButter is confident we’ll expand the shelf space we’ve created.”

MagicalButter’s groundbreaking products are distributed across North America, South America, Europe, Asia and Australia. The Port Richey, Florida, based company has spurred a global edible DIY market through providing consumers and patients with the tools and knowledge to decarboxylate, extract, infuse, create and store edibles and medibles at home.

Every year, The High Times 100 celebrates the 100 most influential people in the cannabis world, from entrepreneurs and activists to entertainers, politicians, cultivators and more.

About MagicalButter

MagicalButter is an entirely new category of products. The MagicalButter machine MB2e is the world’s first countertop botanical extractor designed for creating recipes infusing the essence of healthy herbs into butter, oil, grain alcohol, lotions, and more. Most important are the amazing benefits of certain plants people all over the world are discovering can be used to enrich their health. MagicalButter products are consistently affordable, easy to use, made from premium quality materials, and offer peerless customer service from TeamMB. As a team, we own the company, we design the products, we use them, we truly care about quality and about each customer—and our fans tell us it shows in the personalized attention they receive. Together We Win. https://www.magicalbutter.com

Media contact:

Zoe Wilder
zoe@zoewilder.com


StaffStaffApril 1, 2019
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5min1300

Its time for your Daily Hit of cannabis financial news for April 1, 2019.

On The Site

Cresco Labs

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF)  is acquiring CannaRoyalty Corp. also known as Origin House (CSE: OH) (OTCQX: ORHOF) in a deal valued at C$1.1 billion or C$12.68 per Origin House Share (based on the Exchange Ratio and the closing price of Cresco Labs Shares on March 29). The deal looks to be the largest public company acquisition in the history of the U.S. cannabis industry.

The combined company will be one of the largest vertically-integrated multi-state cannabis operators in the U. S.; a leading North American cannabis company, by footprint; and one of the largest cannabis brand distributors.

GrowGeneration

GrowGeneration Corp. (OTCQX: GRWG) reported revenue of $29.0 million or 102% over 2017 revenues of $14.4 million. The company delivered a net loss of $5 million for 2018 a big increase over 2017’s net loss of $2.5 million. Gross profits were $6.4 million for 2018, as compared to $3.3 million for 2017, an increase of approximately $3.1 million or 97%. The company’s same-store sales, in the 4th quarter, increased by 12.4%.

Nutritional High

Nutritional High International Inc.  (CSE: EAT) (OTCQB: SPLIF) reported revenue of $6.1 million for the second quarter of 2019 from the sale of Cannabis related products in California primarily via its wholly owned distributor, Calyx Brands Inc. The company also reported a gross profit of $1.5 million, but a net loss of $6.8 million. At the end of January 31, 2019, the company has now recognized a trailing-twelve-month revenue from Cannabis sales of approximately $17.6 million.

1933 Industries

1933 Industries Inc.  (CSE: TGIF) (OTCQX: TGIFF) reported that for the second quarter FY2019, the company had consolidated revenues of $3,720,993, gross margin of $2,088,740 and a net loss of $2,926,981.

In Other News

WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) has entered into a credit facility with Bank of Montreal. Under the terms of the credit facility, BMO will provide WeedMD up to $39 million of secured debt financing at a rate of interest that is expected to average in the low-to-high 5% per annum range over a three-year term.

The facility consists of a $33.1 million term loan, a $3.0 million equipment term loan and a $3.0 million revolving credit facility, all of which mature in 2022. WeedMD may, at its discretion, repay the balance of the Loans without penalty at any time during the term. Concurrently, WeedMD has exercised its option to purchase the Health Canada-licensed, 98-acre Strathroy property from Perfect Pick Farms. The Strathroy purchase includes the licensed 610,000 sq. ft. state-of-the-art hybrid-greenhouse, more than 100,000 sq. ft. of ancillary structures and all other infrastructure and equipment as well the 50 acres of land upon which the Company intends to cultivate outdoor cannabis.

Helix TCS, Inc. (OTCQB: HLIX) filed its fourth quarter and fiscal year 2018 financial results Friday, March 29, 2019. Highlights of the fourth quarter compared to the same quarter a year ago included total revenues that increased 189% to $3.45 million and gross profits for the quarter was $1.37 million, a 40% gross margin.

Curaleaf Holdings, Inc. (CSE: CURA)(OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States announced that it completed the acquisition of EC Investment Partners, LLC.

 



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