Video Staff, Author at Green Market Report

Video StaffJuly 23, 2021

4min5540

July 10 or Dab Day is turning into a dud day. It’s also called “oil” day and the idea is that 710 upside down spells oil. This year total US cannabis sales decreased by -10.4% over an average of the previous four Saturdays. concentrates sales increased by 24.1% and were the only category that enjoyed positive growth.

Ayr Wellness Inc. (OTC: AYRWF) is buying Nevada-based Tahoe Hydroponics Company, LLC in a deal valued at $17 million. It is a cash and stock deal that will consist of $5 million in cash, $3.5 million in debt, and approximately $8.5 million in stock. Tahoe Hydro operates roughly 33,000 square feet of total cultivation and manufacturing space in its facilities in Carson City, Nevada, and Sparks, Nevada.

Entourage Health Corp. (formerly WeedMD Inc.) (TSX-V:ENTG) (OTCQX:WDDMF) announced preliminary unaudited revenues of $13.6 million for the three months ending June 30, 2021. The company said this was another sequential quarter of record sales growth across its adult-use and medical sales channels.

Clever Leaves Holdings Inc. (Nasdaq: CLVR) closed on $25 million in financing from Catalina LP, an affiliate of SunStream Bancorp Inc., a joint venture initiative sponsored by Sundial Growers Inc. (Nasdaq: SNDL).

Empower Clinics (OTC: EPWCF) is selling its legacy cannabis assets for $1 million and said it plans to fully focus on its integrated healthcare business. 

Michigan-based Gage Growth Corp. (CSE: GAGE) has added another high-profile name to its dispensaries. Gage and Pure Beauty have entered into an exclusive five-year partnership agreement to launch Pure Beauty’s line of premium cannabis products in Michigan, pending Michigan. Pure Beauty is a California-based boutique cannabis brand that combines art, culture, and style with sustainable and social justice practices.

And finally, Harborside Inc. (CSE: HBOR), (OTCQX: HBORF) announced that Peter Bilodeau has been asked to step down from his role as Interim Chief Executive Officer effective immediately, and Matt Hawkins, Chairman, will assume the position of Interim CEO while the company completes its search for a successor.


Video StaffJuly 16, 2021

3min4250

U.S.-based psychedelic investment fund Palo Santo has launched with an initial $35 million in capital raised and an active portfolio of 20 companies. The diversified venture fund said in a statement that it is focused on tackling the growing global mental health crisis by investing in innovative psychedelic-based and adjacent therapies that are poised to shape the future of psychiatry and fields beyond.

 

Wesana Health Holdings Inc. (CSE: WESA) (OTC: DBDIF) is buying Psychedelitech Inc., also known as PsyTech Inc., for a price of approximately C$21 million an all-stock deal. PsyTech uses data-driven tools that allow physicians insight into patient well-being and clinical best practices. PsyTech is mainstreaming the adoption of psychedelic-assisted therapies through the promotion and delivery of safe and effective therapy, combating stigma, and accelerating innovation.

 

Empower Clinics reported total revenues of $2 million in the first quarter of 2021. The company also reported a net loss of $25 million, which it said was primarily driven by a non-cash loss on the fair value adjustment related to the Company’s warrants. 

 

PharmaDrug Inc. (CSE: BUZZ) (OTC Pink: LMLLF)reported interim positive results from its ongoing preclinical study evaluating the company’s patented Cepharanthine (“PD-001”) in a broad panel of human cancers. To follow up on these highly encouraging results, PharmaDrug said it will quickly initiate an additional in vitro efficacy study to assess the potential of cepharanthine to provide additive benefits in combination (combo-therapy) with the current standard of care agents. The drug is derived from a non-psychedelic plant called Stephania.


Video StaffJuly 16, 2021

5min6410

The big news this week was that  Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR), and Sen. Cory Booker (D-NJ) released the full text of their federal draft marijuana legalization bill called the Cannabis Administration and Opportunity Act. This massive piece of legislation is clocking in at a hefty 163 pages. In general, the legislation aims to deschedule cannabis, expunge prior records, fund equity programs, remove collateral consequences, and transfer regulatory authority for marijuana to the Food and Drug Administration and other federal agencies. Only consumers over the age of 21 would be allowed to buy legal cannabis and adults would be limited to purchases of up to 10 ounces. The bill would also impose a federal tax on marijuana products and put some of that revenue toward grant programs meant to support people from communities most impacted by prohibition who want to participate in the industry.

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) released its results for the third quarter ending May 31, 2021, with revenue growing 31% over last year to $29.1 million. This was an increase of 51% from the second quarter. The net loss fell 96% to just $4 million from last year’s $89 million

EVIO Inc. (OTC: EVIO) has entered into a Letter of Intent to acquire Leading Edge Pharms, Inc. (LEP) of Henderson, Nevada. LEP is a biotechnology company focused on the research, development, and commercialization of novel cannabinoid therapies and innovative drug delivery systems that provide safe and effective topical solutions for pain management.

High Tide Inc. (TSXV: HITI) (Nasdaq: HITI) is buying a dispensary chain with six stores owned by 102105699 Saskatchewan Ltd. for C$2,900,000. High Tide will acquire a portfolio of six retail cannabis locations in Regina, Saskatchewan, out of which one is operational and five are in various stages of construction and development and are all expected to be operational by the end of 2021.

Australis Capital Inc., operating as Audacious (CSE: AUSA) (OTC: AUSAF) is buying a cannabinoid-infused shot beverage company called LOOS.

MJardin Group, Inc. (CSE: MJAR) (OTCQX: MJARF) said that it has decided to suspend construction and certain business activities at the company’s Warman facility effective July 12, 2021. Additionally,  MJardin said in a statement that it has launched a Sales and Investment Solicitation Process related to the company, and all its Canadian and US assets.

And finally

Sacha Baron Cohen, the creator of the character “Borat” has sued privately-owned Massachusetts cannabis company Solar Therapeutics Inc. and the company’s President Edward Dow III for $9 million. Cohen is angry that his likeness as the character Borat was used without his permission on a billboard that was placed on a busy highway. The lawsuit claims that by using Cohen’s image it looks as if he is endorsing cannabis products.


Video StaffJuly 9, 2021

3min7590

This is Psychedellux – the week’s top business headlines in the psychedelics industry. 

Dublin-based GH Research is now listing its stock on the Nasdaq under the symbol “GHRS” after opening for trading on Friday, July 2 at $22. The company had an IPO of 10 million shares at an initial price of $16 per share for total proceeds of approximately $160 million. The company said that its initial focus is on developing the novel and proprietary version of DMT for the treatment of patients with Treatment-Resistant Depression, or TRD.

Numinus Wellness Inc.  (TSXV: NUMI) (OTC: LKYSF) is buying the Neurology Centre of Toronto as of an agreement dated July 2, 2021, in a deal valued at half a million dollars. The deal is expected to close by the end of August 2021. All of NCT’s staff – including medical doctors, nurses, physician assistants, occupational therapists, psychotherapists, physiotherapists, nutritionists, and administrative staff – are expected to remain with Numinus after the deal closes.

Compass Pathways signed a deal with an NHS Trust and King’s College London. The new partnership will speed up Compass Pathways’ work in treatment areas such as post-traumatic stress disorder, anorexia and bipolar disorder. It will result in a number of new research studies and give the company access to NHS patients for clinical trials.

Cybin Inc. (NEO:CYBN) entered into an exclusive research and development collaboration agreement with TMS NeuroHealth Centers Inc., a wholly-owned subsidiary of Greenbrook TMS Inc. which operates 129 outpatient mental health service centers in the United States. Cybin and Greenbrook will work together to establish Mental Health Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression.

 


Video StaffJuly 9, 2021

3min8920

This is your Marijuana Money Minute for the week ending July 9. It was a shortened trading week with markets closed on Monday for the 4th of July holiday. It was also fairly quiet for the cannabis industry. 

 

 Agrify Corporation (NasdaqCM:AGFY) entered into a definitive agreement with current customer Nevada Holistic Medicine for the build-out of their 12,400 square foot state-of-the-art facility that should result in about $12,000 in fees. The company has also signed a definitive Collaboration Agreement forming a long-term research and development partnership with Curaleaf Holdings. Agrify will supply its software platform for three years at Curaleaf’s primary R&D facility located in Massachusetts.

 

Gage Growth Corp.  (CSE: GAGE) (OTC: GAEGF) now has an exclusive partnership agreement with multi-platinum-selling, GRAMMY Award and Golden Globe Award-nominated recording artist Wiz Khalifa’s brand, Khalifa Kush (“KK”), to develop and launch a line of premium cannabis products in the state of Michigan. Gage will be the exclusive producer, processor, and retailer of KK branded products in Michigan.

 

 WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) is changing its name to Entourage Health Corp. over the next few months. The company said that throughout the transition it will continue doing business as Entourage Health Corp., its Health Canada license will continue under its wholly-owned subsidiary WeedMD RX Inc.

 

Terra Tech Corp. (OTCQX:TRTC) has changed its name to Unrivaled Brands following its completed merger with UMBRLA, Inc. As part of its rebranding, Terra Tech will start trading under its new ticker symbol, “UNRV”, on the OTCQX market at the market opening on Thursday, July 8, 2021.

 

Khiron Life Sciences  (OTCQX: KHRNF) has agreed to sell 27 million units of the company for gross proceeds of $12 million. 


Video StaffJuly 2, 2021

3min5420

This is Psychedellux – the weekly recap of the business news in the psychedelics industry.

 

Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) released financial and business highlights for its financial year ended March 31, 2021. The company noted that it had a net loss of  $32.2 million for the year ended March 31, 2021 of which non-cash expenses totaled $13.1 million and cash-based operating expenses totaled $19,120,000. Cybin also reported that it had cash and cash equivalents of $64 million as of March 31, 2021.

 

Empower Clinics Inc. (CSE: CBDT)(OTC PINK: EPWCF) released its audited consolidated financial statements in United States dollars. Empower Clinics reported total revenues grew 58% to $3,209,196 for the fiscal year 2020 versus revenues of $2,031,581 for the fiscal year 2021. The company had a net loss of $17,066,311 or $0.09 per share compared to $4,301,663 or $0.04 per share for the fiscal year 2019. the company said this was primarily driven by a non-cash loss on the fair value adjustment related to its warrants outstanding that were impacted by the significant appreciation of the company’s share price (a key input in determining the fair value).

 

Allied Corp. (OTCQB: ALID) signed a supply and manufacturing agreement with HAVN Life Sciences (CSE:HAVN) to produce and distribute Psilonex™ RX psilocybin medical products for Allied’s patient cohort. HAVN will produce bottles of PsilonexRX capsules which is a proprietary formulation of psilocybin, cordyceps, lions mane, vitamin B and other ingredients.


Video StaffJuly 2, 2021

5min10540

Akerna (NASDAQ: KERN) is predicting the 4th of July will bring in over $206 million in legal cannabis sales across the United States. The report predicts July 2nd to be the second highest sales day of the year, just after 4/20. 

TPCO Holding Corp. also known as The Parent Company (OTCQX: GRAMF) is buying a West Hollywood, CA dispensary named  Calma West Hollywood in a deal valued at $11.5 million. It is expected to close in the third quarter of 2021.

There were a few earnings to discuss this week. 

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) said its revenue increased by 99% to $40.9 million in the second quarter versus $20.6 million in the same quarter last year. 

Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) reported first quarter revenue rising 53% to $13.9 million over last year’s $8.8 million. This topped the previous guidance from Flower One of $13.5 million and was a big jump sequentially over the fourth quarter’s $9.7 million.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) announced preliminary unaudited revenue results for the quarter ending in  May. The Company expects total revenue to be approximately $7.1 million, representing a $5.1 million increase compared to the second quarter of 2021.

CBD company Exactus, Inc. (OTCQB:EXDI)  acquired Panacea Life Sciences which was founded by Leslie Buttorff, in 2017 as a woman-owned business Buttorff will lead the newly merged company.

It seems like capital raising is back with a vengeance. 

 Kadenwood, a leading plant-based wellness company has raised $50 million of cash and media value in a Series B fundraising round. 

Nabis, California’s largest licensed cannabis wholesale marketplace platform, announced it raised $23 million in a Series B funding round.

Columbia Care Inc.  (OTCQX: CCHWF) closed its previously announced private placement raising $75 million.

Markets will be closed on Monday in the U.S. to celebrate the fourth of july holiday. Everyone have a safe and happy weekend.

 


Video StaffJune 25, 2021

3min6380

Psychedelic biotech company Awakn Life Sciences Corp. (NEO: AWKN)  began trading on the NEO Exchange Inc. under the symbol “AWKN”. The company has raised C$13.5 million to date and has plans to open three UK psychedelic-assisted psychotherapy clinics where it will deliver ketamine-assisted therapies near term and MDMA when they secure authorization in 2021. The company’s target is 20 clinics by the end of 2024.

Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) has entered into a non-binding letter of intent to acquire a 51% stake in Acadian Exotic Mushrooms Ltd. AEM is a dormant gourmet mushroom production facility. Upon completion of start-up activities, the 22,000 square foot facility is expected to produce up to 5,000 pounds of Shiitake mushrooms per week. AEM will also have the ability to produce, package and distribute a wide variety of fresh mushrooms while offering an assortment of dried options and the potential to produce functional mushroom consumer packaged goods.

Silo Wellness Inc.  (CSE: SILO) (OTC: SILFF) has launched Marley One, a psychedelic mushroom consumer brand, in collaboration with the family of legendary musician Bob Marley. Silo said that the initial product offering will include a range of functional mushroom tinctures with unique blends highlighting the brand’s connection to Jamaica, including species such as cordyceps, lion’s mane, chaga, reishi, and turkey tail. These initial mushroom supplements have no psychoactive properties, but Silo said it is planning a psychedelic mushroom product line under the Marley name later this year.

 


Video StaffJune 25, 2021

5min11360

It was a big week for legalization in the northeast. Connecticut officially legalized adult-use cannabis. on July 1, adults ages 21 and older may legally possess up to 1.5 ounces of cannabis flowers and up to five ounces of marijuana in their private residence. Retail sales of cannabis and cannabis products are not anticipated to begin until some time next year.

Rhode Island’s Senate has approved a bill to legalize and now it moves to the state’s house for approval. 

A Manhattan federal judge sentenced two former consultants for cannabis delivery company Eaze Technologies Inc to prison last Friday for their roles in a scheme to dupe U.S. banks into processing credit card transactions for cannabis purchases. The fraudulent transactions totaled $100 million in payments to the online cannabis marketplace. U.S. District Judge Jed Rakoff sentenced Hamid (Ray) Akhavan, 43, to two and a half years in prison and Ruben Weigand to 15 months in prison. 

The Massachusetts Cannabis Control Commission fined both TILT Holdings Inc. (CSE: TILT) (OTCQX: TLLTF) and Ayr Strategies (OTC: AYRWF) last week for over $200,000 each as both companies try to resolve issues each blamed on previous management. The settlement also allows each company to move forward with plans in the state. 

Canopy Growth Corporation  (TSX: WEED) (NASDAQ: CGC) has completed its acquisition of The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF), a deal that was valued at $435 million.

Alimentation Couche-Tard Inc. (OTC: ANCUF),  the owners of Circle K exercised warrants to acquire over 10 million shares of Fire & Flower Holdings Corp.  (TSX: FAF) (OTCQX: FFLWF). The company now owns roughly 20% of Fire & Flower. 

Bhang Inc. (CSE: BHNG) (OTCQX: BHNGF) provided an update with respect to its previously announced management cease trade order issued by the Ontario Securities Commission on May 3, 2021. The company reported that revenue dropped considerably from $4.6 million in 2019 to just $1.6 million in 2020. Product sales dropped from $3.7 million in 2019 to just $120,915 in 2020, with licensing income making up the difference.

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) announced that it is changing its name to Audacious Brands.  The company’s ticker symbol will remain AUSA on the CSE and AUSAF on the OTC. The company said it will consolidate its brands under the new Audacious banner and intends to launch additional product lines under the new name.


Video StaffJune 18, 2021

1min7640

On Weed Talk News this week, once Governor Ned Lamont signs the bill, Connecticut will become the 19th legal cannabis state in the USA. The Tiger King launches a celebrity weed strain from prison. Two US Congressman file a bill to legalize all drugs, 50 years to the day Ex-President Nixon started the so-called war on drugs. Former Boston Celtics star Paul Pierce enters the cannabis market, and his Truth strain is coming to Massachusetts courtesy of The Hub Craft. Plus State reports from Coast to coast including a new California report from The self-proclaimed “Canna Bitch” Jackie Byrant. Michigan with Rick Thompson, Vermont with Jessilyn Dolan, Illinois with Margo Vesely, The DC Report with Phil Adams from Vote Pro Pot Cast and The Green Market Report’s Debra Borchardt with the latest IPO from a major cannabis brand, Weedmaps. Jimmy Young from Pro Cannabis Media Anchors Weed Talk News.


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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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