Staff, Author at Green Market Report - Page 22 of 181

StaffMarch 7, 2022
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3min6670

 Seelos Therapeutics, Inc. (Nasdaq: SEEL) announced its year-end 2021 business and clinical update. In the second half of 2021, Seelos said it had achieved several major clinical and financial milestones and continued to make progress on its multiple clinical-stage development programs. As of year-end 2021, Seelos had $78.7mm of cash.

SLS-002 (intranasal racemic ketamine)

  • In July, Seelos began dosing patients in Part 2 of the registration-directed, double-blind, placebo-controlled cohort in Acute Suicidal Ideation and Behavior (ASIB) in patients with Major Depressive Disorder (MDD).
  • In June, based on feedback from a Type C meeting with the FDA, Seelos is planning to expand the size of the trial and number of sites now that this trial has been labeled registration directed.
  • In October, Seelos presented a poster titled “A Phase 2 Open Label Study of Efficacy, Safety, and Tolerability of SLS-002 (Intranasal Racemic Ketamine) in Adults with Major Depressive Disorder at Imminent Risk of Suicide”, at the 2021 IASR/AFSP International Summit on Suicide Research Virtual Conference. SLS-002 demonstrated rapid, robust and sustained reductions on the Montgomery-Åsberg Depression Rating Scale (MADRS), the Clinical Global Impression of Severity for Suicidal Ideation and Behavior, the Patient Global Impression of severity for Suicidal Ideation and Behavior, and the Sheehan-Suicidality Tracking Scale. Additionally, the group mean met the MADRS remission criteria initially on day 6 after only 2 doses of SLS-002.

“In the second half of 2021, we continued to accomplish several significant milestones and continued to execute in the face of one of the most difficult environments for publicly-traded biotech companies that I’ve seen in my career,” said Raj Mehra Ph.D., Chairman and CEO of Seelos. “We began the placebo-controlled Part 2 of the registration directed study of SLS-002 and plan to enroll in over 30 sites. The SLS-005 IV trehalose program’s registrational study in ALS, which was accepted into the HEALEY ALS Platform Trial at Harvard, commenced dosing participants in February 2022 and our IND was accepted to study SLS-005 in spinocerebellar ataxia and its Phase IIb/III pivotal study should begin dosing in Q2 2022. We have begun additional in vivo studies with our Parkinson’s disease-focused gene therapy program SLS-004 after demonstrating its capability of reducing alpha-synuclein expression. We look forward to continuing to provide meaningful updates on the current state of progress on all of our programs as well as additional initiatives.”


StaffMarch 7, 2022
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3min5620

CANNACLUSIVE

MARY PRYOR – COFOUNDER, CANNACLUSIVE

What is your proudest accomplishment in the cannabis industry?

We’re excited about the launch and continuation of our work with various companies and brands on their inclusion strategies and marketing needs. Alongside that, I’m glad that the community relies on us for that along with quality information.

Do you feel that the cannabis industry has more opportunities for female-identifying people than other industries?

Honestly, I think that women need to build more community and mentorship amongst each other in order to create and sustain opportunities in cannabis overall.

 

Do you feel you have to work twice as hard as male colleagues or do you think the industry has moved past that?

Women have to work 100 times as hard. Twice as hard seems to be seen as not enough and it’s really concerning given how many amazing women I know in cannabis.

 

What was your biggest challenge in business and how did you overcome it?

Our business challenge is capital. And it’s something we are working to change this year.

 

What have you or your company done to help give more opportunities for women?

We’ve generated funding and monetary support dollars for entities that are part of Cannabis for Black Lives and we’ve connected a lot of dots when it comes to extended and job opportunities with other brands in the space.

 

What are your personal goals for 2022?

 

Preparing for larger collaborations, expanding Inclusivebase, and finding better ways to create balance and fun for everyone who is taking the time to help us evolve.

 


StaffMarch 4, 2022
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5min5840

PLUS Products

SHIAO WILLIAMS-SHENG – DIRECTOR OF INNOVATION, PLUS PRODUCTS (now owned by Glass House Brands (OTC: GLASF)

 

What is your proudest accomplishment in the cannabis industry?

 

I’ve had the pleasure of launching several new product lines throughout my time in cannabis. But my proudest accomplishment was bringing sleep-focused products to market in the fall of 2020. They’re cloudberry and lychee, which are two of my favorite candy flavors, and really demonstrate how much the industry has evolved. All of the work – ideation through launch – was done during COVID, and much of it remotely. I am immensely proud of how our team came together to navigate the  uncertainty and significant challenges COVID presented to our physical and emotional health and business. Throughout the pandemic, I’ve both experienced and observed in my community an uptick in stress-induced sleepless nights. Developing a line of products that aid in deep and restorative sleep has been very gratifying. 

 

Do you feel you have to work twice as hard as male colleagues or do you think the industry has moved past that?  

 

One of the reasons I love working in the cannabis industry is that social justice is woven into its fabric. I hope that industry leaders continue to push boundaries to advocate for federal decriminalization with gender and racial equity as key pillars. While the industry is more progressive than most given its history and continued federal prohibition, my experience has shown that gender inequality is as present as other less nascent industries. Society has centuries of inherent bias baked into how it treats women, people of color, and an array of marginalized communities. Acknowledging and breaking down these biases has to be a collective effort; I am always learning ways to be a more effective agent of change. 

 

What was your biggest challenge in business and how did you overcome it?

 

Finding my voice has been my biggest challenge. I’m an introvert, and communicating to a larger audience was not something that I felt comfortable with early on in my career. I’ve had to learn to project my voice and opinions to large, cross-functional teams with very different ways of working. My newfound confidence in public speaking, parried with my more introverted traits of adaptability, attentive listening, and learning how to read a room, helped me to develop and evolve my communication. 

 

What are your personal goals for 2022?

Balance and growth.

 

Bio:

Shiao is always hungry. She’s hungry for food that tingles her brain with joy, for dishes she has yet to try, and a hunger to connect with the individuals behind those creations. She’s the sum of a family made up of liberal misfits. She was homeschooled with the directive to find her passion/s, but more importantly to be kind and compassionate. She’s carved out an unorthodox existence in the world. A semi-autodidact, she started in fine dining at the age of 13 and has never looked back. She’s worked her way through kitchens, R&D labs, cannabis start-ups and hearts. She now happily resides as the resident Director of Innovation of PLUS with a strong desire to bring euphoria into people’s daily existence.

 


StaffMarch 3, 2022
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6min7380

The Daily Hit is a recap of the top cannabis business stories for March 3, 2022.

On The Site

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) reported its financial and operating results for the fourth quarter and year ended December 31, 2021. Total revenue was $320 million for the fourth quarter of 2021, an increase of only 1% from $317 million in the third quarter of 2021 and 39% from $230 million in the fourth quarter of 2020. Curaleaf said that the revenue growth was due to new retail store openings, the addition of new wholesale partner accounts, product launches, and the expansion of cultivation and production facilities. The net loss for the quarter was $28 million versus the third quarter’s net loss of $55 million and last year’s $37 million in the fourth quarter of 2020. Curaleaf said that the year-over-year improvement in net loss was primarily driven by an approximately $20 million increase in operating income and $2 million of lower income tax expense, partially offset by $15 million of higher other expenses, net. The earnings per share were ($0.04), which missed the Yahoo Finance analyst estimate for earnings of ($0.03). Read more here.

Female Fraud

A New Jersey cannabis license applicant is suing the state and claiming that some license winners were using certain women as props to get special female-owned business license. Curio Holdings LLC, a subsidiary of privately-owned Curio Wellness based out of Maryland,  filed a lawsuit in the Superior Court of NJ, Appellate Division (#A-000947-21), against New Jersey Cannabis Regulatory Commission (NJCRC) for a stay of Alternative Treatment Center license awards in the Central Region, alleging application fraud from several of the awardees of the coveted licenses. Read more here.

Tilray

Tilray Brands, Inc.  (Nasdaq: TLRY) is striking up a partnership with Hexo Corp. (Nasdaq: HEXO) by buying $211 million of its debt. The move will bring together Canada’s top two cannabis market share leaders, strengthening their respective positions and setting the stage for increased production efficiencies amid competitive market dynamics. Tilray’s stock was slipping slightly in early trading on the news. Read more here

High Tide

High Tide Inc.  (Nasdaq: HITI) is buying four operating retail cannabis stores in Ontario under the name Crossroads Cannabis, for C$2.5 million in an all-stock deal. In the latest quarter, Crossroads generated annualized revenue of C$7.6 Million and annualized Adjusted EBITDA of C$0.7 Million. The purchase price represents 3.5x annualized Adjusted EBITDA for the three months ended December 31, 2021. Read more here.

In Other News

Greenwave

Greenwave Technology Solutions, Inc. (OTC: MSRTD) is pleased to announce that it will begin trading under the ticker “GWAV” on March 28, 2022. Greenwave is currently trading with a “D” added to its ticker symbol for 20 business days following the effectiveness of a share consolidation on February 28, 2022. The company expects to formally submit its application to uplist to a national exchange in the coming weeks, with its subsidiary, Empire Services, Inc., generating approximately $27.5 million in revenue in the fiscal year 2021.

TerrAscend

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF)announced the appointment of Kara DioGuardi to its Board of Directors. A Grammy nominated songwriter, producer, record executive, music publisher, Broadway actress and former American Idol judge, Ms. DioGuardi’s credits include 320 songs released by major labels, 11 of which have earned Grammy nominations, 23 BMI Awards and more than 50 charting singles, cumulatively surpassing one billion streams.


StaffMarch 3, 2022
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9min10130

Headset

 

JOCELYN SHELTRAW – DIRECTOR OF INDUSTRY RELATIONS, HEADSET

 

What is your proudest accomplishment in the cannabis industry? 

Being a connector and bringing the community together, especially during the pandemic where so many people were lacking human connection. I facilitated in-person gatherings and digital meetups at a time when people were alienated because of Covid, but also struggling through the turmoil of the cannabis industry. A lot of people in our industry were reaching out asking if what they were experiencing in their business was like others, and I was able to help people feel less alone by sharing insights and bringing people together. 

 

Do you feel that the cannabis industry has more opportunities for female-identifying people than other industries? 

I don’t know that I would say that the cannabis industry has more opportunities for women, but it is an industry unlike any other I’ve been a part of because it’s an industry built on community, and because of its prior illegal nature, there’s an air of non-judgment, and therefore acceptance. 

 

Think about it…up until a few short years ago cannabis was illegal, and so the type of person working in the industry generally was someone comfortable with discomfort. There’s a camaraderie that happens between people navigating unknowns, and that often overpowers someone’s gender or ethnicity. 

I came from the ad tech industry, and while there were about even rates of women in executive positions, it felt much more closed-minded to me. It felt hierarchical. Maybe this is our American values changing, or the fact that people in cannabis are bound by similar beliefs, but there does seem to be a shift happening where people in the industry are building companies on a culture of openness and acceptance. 

 

Do you feel you have to work twice as hard as male colleagues or do you think the industry has moved past that?

I don’t feel I have to work twice as hard in executing on the core functions of my job, however, I do operate in an environment that requires more thoughtfulness, which is ultimately more work for me in certain areas. 

I don’t know that a man has to think as much about how he words an email, how he comes across in meetings, how he dresses, how close he gets to another when he speaks, how late he stays out during conferences or events. I think about all these things, all the time. It’s a lot of exerted energy. 

For example, I co-founded an executive cannabis meetup called CannaPac and when I’m co-hosting I have to think about all the aforementioned, but I also have to be cognizant of how to drive more diversity of attendees. It’s been a challenge…our first event we had about 80 men and 10 women attend. This has shifted over time with more conscious planning. 

Ultimately, people gravitate to people that are similar to them. This is why men, or people in positions of power, have a responsibility to lead with diversity in mind. You have to be proactive in changing the environment, and I believe the companies/programs that do that will be more successful in the long run. 

What was your biggest challenge in business and how did you overcome it?

My biggest challenge in business is learning to navigate my ego so I can be the leader I want to be. 

I’m a fiery type-A personality…I’m passionate, a perfectionist, and have high expectations, which can be great qualities in a leader, but I’ve learned these traits have to be managed thoughtfully. 

I’ve found myself in situations where my passion and perspective don’t take into consideration my colleagues’ differing, yet valid points of view. For example, I tend to get hyper-protective of our brand at Headset and want every touchpoint with our team and company to be thoughtful and perfect. This is a great goal, but when things are as busy and unstable as they are in this industry, it can be hard to prioritize attention to detail over the speed of execution. 

I’m learning that if I lead with empathy and understanding, I get the end result that yields a better outcome for the team and company.

What have you or your company done to help give more opportunities for women?

At Headset, our founders have strived to create a diverse work environment…almost half of our leadership team is women. I’m proud that our company is well above industry averages. 

For me personally, I’ve mentioned the CannaPac executive meetups and that I’ve been working to increase female attendees. We had an event on February 22 in LA and we had 3x as many women as our first event. This is great progress as many people come to the events to network with other leaders, and to find new jobs or opportunities. To increase the percentage of women in executive roles, there needs to be more connection to break down social barriers. 

What are your personal goals for 2022?

I rarely set goals for myself. Goals suggest I have to be working toward something and I prefer to live my life in the moment, with the “goal” being to live as intentionally and consciously as possible. 

Living intentionally means being thoughtful about my physical, spiritual, intellectual, and mental well-being. I live this way because I find that the more present I am, the more I know and take care of myself, the more people I know and treat well…the more a fulfilling life manifests itself.

The end result of living life in the present is that I don’t live in a state of fear or anxiety over what my life should be like. My “goals” right now are to focus my time on the things that bring me fulfillment…my partner Claudio Miranda (he’s also a part of the cannabis industry), spending time with my family and friends, destigmatizing cannabis because I believe there is far more positive impact to our society than negative, helping build Headset so our team can have a successful exit and contribute positive growth to the industry, and fulfilling my creative outlets by devoting time to playing music, writing, and photography. 

I often feel like people overcomplicate what life should be about…just be present and enjoy all the beauty, good and bad, that your life has to offer. 

 


StaffMarch 2, 2022
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4min6750

Daily Hit is a recap of the top business stories in the cannabis industry for March 2, 2022.

On the Site

Twitch

Cannabis companies continue to struggle with inconsistent guidelines and the arbitrary enforcement of Terms of Service imposed by social media sites like Facebook Meta and Instagram, but social media marketing is not a platform that any business can afford to overlook. Twitch, an American company operated by Twitch Interactive and a subsidiary of Amazon.com, Inc., (NASDAQ: AMZN) is a live video streaming service that focuses primarily on video games that might just present a viable marketing alternative to more restrictive social media environments. Read more here

SOTU

President Joe Biden began his first State of the Union Address laying out the numerous ways that he is working to support the people of war-torn Ukraine. He went on to describe his triumphs in turning around the economy post-pandemic and then rattled off several issues that he says need to be dealt with like crime, infrastructure, childcare, opioid abuse, veterans care, even going so far as to cure cancer, but the one element that was sorely lacking from the speech – cannabis. Read more here.

Australis

Long after the market closed on Tuesday, Australis Capital Inc. also knowns as Audacious (CSE: AUSA) (OTC: AUSAF)  announced that it had filed its financials and management discussion and analysis for the three-month period ending December 31, 2021, its fiscal third quarter of fiscal 2022 (the year ending March 31, 2022). Audacious reported that it had total revenues of $2.37 million, an increase of 2,623% year-over-year from $90,378 in the third fiscal quarter of 2021 and even grew 4% sequentially. Read more here.

In Other News

Planet 13

Planet 13 Holdings Inc. (OTCQX:PLNHF) and Next Green Wave Holdings Inc. completed the previously announced arrangement under the Business Corporations Act, with Planet 13 acquiring Next Green Wave. The Arrangement was overwhelmingly approved by NGW shareholders in accordance with the requirements of the BCBCA at a special meeting of NGW shareholders held on February 25, 2022, and was subsequently approved by the Supreme Court of British Columbia on March 1, 2022. Read more here.

HYTN

HYTN Innovations Inc. (CSE: HYTN) reported unaudited Q1 financial results for its operating subsidiary, HYTN Beverage Corp., for the quarter ended December 31, 2021. HYTN Beverage generated total sales of $212,581 during Q1. Read more here.


StaffMarch 2, 2022
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6min9980

TerrAscend

 

 

CHANTELLE ELSNER – SVP of Retail Operations, Northeast Division, TerrAscend Corp.(OTC: TRSSF)

 

What is your proudest accomplishment in the cannabis industry?

 First, it is not about pride for me, it is an honor to be in my position as a leader in the Cannabis field and a steward of responsibility for TerrAscend.  I do feel particularly accomplished in a generative sense, however.  From creating the design and layout of stores to cultivating new front-line teams, and ultimately generating new opportunities for our brand, I take great joy in the creative elements of my position.  Blending seamlessly the operational, artistic, and human elements of my sphere of influence is where I feel most accomplished.

 Do you feel that the cannabis industry has more opportunities for female-identifying people than other industries? 

 Yes, I do.  A key aspect of leadership in a burgeoning industry is pioneering new pathways for those communities that have been underserved or marginalized.  The sheer youth of the Cannabis industry allows leaders to see the historical failures of the marketplace to actively address, and correct, discriminatory practices.  TerrAscend has extraordinary women driving much of our success and we hope to stand as an example to other companies and industries of what can be accomplished when women are promoted, valued, and encouraged.

 Do you feel you have to work twice as hard as male colleagues, or do you think the industry has moved past that?

 My male-identifying colleagues are exceptional and industrious.  I do not work twice as hard as they do.  However, the area where women often see the need to work more diligently arises from challenging the fraternal structures that have traditionally lacked inclusivity.  That the Cannabis community should be homogenous is clear, but that must include key factors to benefit women like women’s leadership groups on a large scale, and women mentoring women on a smaller one.  I should point out that men should be welcomed to all women’s leadership events as a way of breaking down non-inclusive structures.

 What was your biggest challenge in business and how did you overcome it?

 Cannabis is youthful, which makes innovation necessary and easier to implement, but it also means that the industry changes rapidly and unexpectedly.  My biggest challenge is devising and coordinating tactical elements of our retail success while maintaining focus on grander more strategic elements.  Building a team-oriented around the cultivation of unique voices and independence allows for flexibility and supporting the autonomy of those team members bypasses unnecessary impediments to progress.

 What have you or your company done to help give more opportunities for women?

 We recently addressed shortcomings in how our insurance handled caregiving for women, choosing to have children.  I should point out that that situation was identified and rectified by male-identifying leaders to support their team.  That speaks to our internal core values, the ones that guide us toward principled and thoughtful leadership.  We have also produced training materials and guidelines for best practices in candidate screening, diversity, and inclusion, and promoting “culture fit” as a key component in hiring and promotion.  All of those are quality responses, but the truth is that opportunities for women can only be realized when leadership believes in the value of women and supports in both theory and practice a workplace of genuine inclusion.  I am one of those leaders for TerrAscend.

 What are your personal goals for 2022?

 This one is easy for me. The rigors of my position demand a hefty measure of my time, and while I am doing the things mentioned in the previous answers, I find it difficult to establish close personal ties with other industry professionals.  While most refer to that as networking, I find that term to be clinical and impersonal.  Reaching out to like-minded people, forming meaningful relationships, and personally attaching myself more to the community, I work so diligently for professionally.


StaffMarch 2, 2022
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3min9660

Novamind Inc.(CNSX: NM)(OTCQB: NVMDF) reported its financial results for the fiscal second quarter ending December 31, 2021). All results were reported in Canadian dollars, unless otherwise specified. Novamind delivered total revenue of $2,452,540,  an increase of 32% over the previous quarter. Subsequent to quarter-end, the company closed a $5 million private placement with an institutional investor on January 26, 2022.

Novamind CEO, Yaron Conforti, commented, “We’re pleased to report record-high revenue this quarter driven by continued revenue growth from existing and new clinics. Novamind is focused on providing clinical research services to leading drug developers, meeting patient demand by delivering innovative, evidence-based mental healthcare and bringing to market new treatment programs such as Psychedelic Palliative Care by Novamind and Frontline KAP.”

The company also reported that during the quarter it had announced a strategic investment and advisory agreement with Bienstar Wellness to develop Latin America’s first network of integrative mental health clinics. The company also opened a new outpatient clinic located in downtown Salt Lake City, specializing in integrative behavioral health and services for adults with substance use disorders.

In January 2022, the company closed the acquisition of Arizona-based Foundations for Change, a mental health practice specialized in ketamine-assisted psychotherapy with two clinic locations in the Phoenix area.

The company was contracted to provide clinical research services for the following clinical trials:

    • A phase I clinical trial examining ketamine-assisted therapy combined with Mindfulness-Oriented Recovery Enhancement therapy to treat opioid use disorder, led by investigator Eric Garland, PhD at the University of Utah
    • A phase II clinical trial investigating ketamine-assisted psychotherapy for adults with life-threatening illness, sponsored by the Ketamine Research Foundation
    • A phase II clinical trial investigating an antidepressant medication for adults with major depressive disorder and post-traumatic stress disorder, sponsored by Alto Neuroscience

StaffMarch 2, 2022
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5min9940

Long after the market closed on Tuesday, Australis Capital Inc. also knowns as Audacious (CSE: AUSA) (OTC: AUSAF)  announced that it had filed its financials and management discussion and analysis for the three-month period ending December 31, 2021, its fiscal third quarter of fiscal 2022 (the year ending March 31, 2022). Audacious reported that it had total revenues of $2.37 million, an increase of 2,623% year-over-year from $90,378 in the third fiscal quarter of 2021 and even grew 4% sequentially.

The net losses were trimmed to $4.7 million in the quarter versus last year’s $19.2 million for the same time period. A 16% reduction in operating loss was recorded $(4.3) million as compared to $(5.1) million for the prior year, with growth in margins offsetting increased operating costs.

“The third quarter saw us expand internationally through our partnership with Green Triangle Health (“GTH”), where we have already started generating revenues,” said CEO Terry Booth. “Our partner is exceptionally well-connected, which is translating into commercial arrangements with major regional and international distributors. In the U.S., we continue to make good headway too, with an important partnership with First Americans of the Saint Regis Mohawk Tribe, which sees us move into New York well ahead of statewide commencement of adult-use sales, providing us with a significant early mover advantage. Our partnership with PBR has seen us launch our Wreck Relief brand, which is now starting to generate online sales, and our Provisions and LOOS brands continue to do very well in California, in part through our partnership with EAZE, the world’s largest legal cannabis delivery company.”

During the quarter under review, the company said it recorded its first billings in California, offset by lower kiosk income as the Cocoon business is wound down. Furthermore, as the company exits its investment in Body and Mind, no further consulting fees were generated from this relationship.

Jon Paul, CFO of AUDACIOUS, added, “The third quarter was an important pivot for us, as we spent heavily towards future growth opportunities while moving further from our past. We successfully launched the AUDACIOUS brand at our highly trafficked booth at MJBizCon and the Roll-Up Launch Event featuring Machine Gun Kelly. We had our first sales in California while also investing heavily in key raw materials to expand our capacity for future quarters. We began funding our relationship with PBR and built inventory in Wreck Relief for the Q4 release. Even with loss of revenue from past fintech and consulting lines, we still grew sales over Q2 and have multiple opportunities for even faster sales growth in the quarters ahead.”

Looking Ahead

Audacious said that in the coming months it will continue to execute on its strategy with further growth in its current markets and anticipates entering new jurisdictions, including New YorkNew Jersey, and others, as well as further expansion of its product line portfolio. “Additionally, the company will be pursuing multiple initiatives to increase production volume, further driving growth. The company is following rigorous financial discipline and anticipates reducing certain operating expenses in the coming months. Additionally, following conversations with the regulators in Nevada, the company is confident the license transfers relating to the GT acquisition will be completed shortly, following which the Company can consolidate the GT results, further boosting growth.”


StaffMarch 1, 2022
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11min9450

The Daily hit is a recap of the top business stories in the cannabis industry for March 1, 2022.

On The Site

Hydrofarm

Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) announced financial results for its fourth quarter and full fiscal year ended December 31, 2021. In the fourth quarter, Hydrofarm‘s net sales increased 26.3% to $110.4 million compared to $87.4 million. This beat the Yahoo Finance estimate for $105 million in revenues. The growth in the volume of products sold was related entirely to recently acquired brands, which offset a decline in organic sales. Read more here.

GrowGen

GrowGeneration Corp. (NASDAQ: GRWG) reported record fourth-quarter and full-year 2021 financial results. Revenues for GrowGen were $90.6 million in the fourth quarter of 2021 compared to $61.9 million in the same period last year. Same-store sales at 26 locations open for the same period in 2020 and 2021 were $40.3 million in the fourth quarter of 2021, compared to $46.0 million in the same period last year, representing a 12.3% year-over-year decline. Read more here.

GTI

Green Thumb Industries Inc.  (CSE: GTII) (OTCQX: GTBIF) reported its financial results for the fourth quarter and full-year ended December 31, 2021. GTI delivered total revenue for the fourth quarter of 2021 was $243.6 million, up 37.4% from $177.2 million for the fourth quarter of 2020. Net income for the fourth quarter of 2021 was $22.8 million or $0.10 per basic and diluted share, compared to net income of $22.4 million, or $0.11 per share in the prior year. this also beat the Yahoo Finance average analyst estimates for earnings of $0.08. Read more here.

Cronos

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced its 2021 fourth quarter and full-year business results. Cronos reported that in the fourth quarter it had net revenue of $25.8 million an increase of $8.7 million from the same time period last year. Cronos said the increase year-over-year was primarily driven by continued growth in the adult-use market in Canada and increased sales in the Israeli medical market. Once again though the company recorded an eye-popping net loss of $133 million in the quarter and earnings per share of ($0.36).  The stock was slipping 2% in early trading to lately sell at $3.50, down from its year high of $11.67. Read more here

Valens

After the market closed on Monday, The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) delivered its fourth quarter and fiscal year financial results for the period ending November 30, 2021. Valens reported total revenue of $23.3 million for the fourth quarter, which fell sequentially from the third quarter’s total revenue of $24.5 million. Read more here

Grown Rogue

Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) reported audited results for the fiscal year ended October 31, 2021. Total revenue for Grown Rogue in 2021 grew to $9.3 million versus $4.2 million for 2020. The company had a net loss of $1 million, which dropped from the previous year’s net loss of $2.3 million. Read more here.

Village Farms

Village Farms International, Inc. (NASDAQ: VFF)  announced its financial results for the three months and year ended December 31, 2021. Sales for the fourth quarter increased 55% to $72.8 million versus last year’s sales of $47.4 million for the same time period. This beat the average analyst estimate on Yahoo Finance for $70 million in revenue. The net income for the quarter was $2.1 million versus last year’s net income of $7 million. The company said it was the 13th consecutive quarter of positive adjusted EBITDA. The earnings per share for the quarter were $0.03, which beat the Yahoo Finance average analyst estimate of $0.02. Read more here.

In Other News

Jazz Pharmaceuticals

 Jazz Pharmaceuticals plc (Nasdaq: JAZZ) announced financial results for the full year and fourth quarter of 2021 and provided financial guidance for 2022. Epidiolex/Epidyolex® year-over-year revenue growth1 of 29% underscores the blockbuster potential. Epidiolex/Epidyolex net product sales were $463.6 million in 2021, or $658.3 million on a proforma basis, and $193.8 million in 4Q21. On a proforma basis, these net product sales represent growth of 29% and 35% compared to 2020 and 4Q20 respectively. Read more here.

Acreage

Acreage Holdings, Inc. (OTCQX: ACRHF, ACRDF) announced the appointment of Dennis Curran as the Company’s Chief Operating Officer. The Company also announced the resignation of James Doherty, General Counsel, effective April 30, 2022, and has launched a national search for his successor.

RIV Capital

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) released its unaudited condensed interim consolidated financial statements and management’s discussion and analysis for the three and nine months ended December 31, 2021. Operating income (before equity method investees and fair value changes) in Q3 2022 was $0.1 million and primarily consisted of royalty and interest income (before provisions for expected credit losses) of $0.8 million generated from the Company’s debenture and royalty agreements with 10831425 Canada Ltd. d/b/a/ Greenhouse Juice Company and NOYA Cannabis Inc. respectively; offset by an increase in provision for expected credit losses on interest and royalty receivables of $0.7 million. Read more here.


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