Video Staff, Author at Green Market Report

Video StaffVideo StaffFebruary 26, 2021


This is Psychedellux, the week’s top news for the psychedelics industry.

Massachusetts lawmakers are moving forward to decriminalize psychedelic drugs. The effort began at the city level when Somerville and Cambridge adopted measures that would make possession of psychedelics a low law enforcement priority. Now it has moved to a state-wide initiative with legislature introduced in both the state senate and house. 

Red Light Holland Corp. (OTC: TRUFF) announced that Brazil has granted authorization for the company’s iMicrodose packs, which contain 15g of Psilocybin Truffles, to be legally imported to Brazil. Also this week, the company issued 26 million units in an offering that brought in over $11 million. 

EMPOWER CLINICS INC. (EPWCF:OTCQB) announced the launch of its first three integrated health centres in Ontario, Canada with each location expected to generate $2.5 – $3.6 million in annual revenue. Advanced discussions are currently underway on multiple additional locations as the company begins the rollout of its national clinic expansion strategy.

NeonMind Biosciences Inc. (CSE: NEON) has purchased an initial order of GMP grade psilocybin from Psygen Labs Inc. for its planned phase 2 human clinical trial expected to begin in Canada later this year. Psygen is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug products for clinical research, therapeutic applications and is a leading supplier for the emerging commercial market.

Novamind Inc., (OTC PINK:NVMDF)  has changed its OTC symbol from “HNLMF” to “NVMDF” effective February 19, 2021.

Psychedellux has been brought to you by the Green Market Report.

Video StaffVideo StaffFebruary 26, 2021


On Monday, New Jersey’s Democratic Governor Phil Murphy signed legislation that legalizes adult-use marijuana possession and licenses retail marijuana sales. The new law caps the number of state-licensed cultivators at 37 for the first two years. Existing state-licensed medical cannabis producers will be among those eligible to provide to the retail market. It has been estimated that adult-use retailers may be operational within six months.

James Patterson, the former CEO of California cannabis delivery platform Eaze pleaded guilty to one count of conspiracy to commit bank fraud according to a report at Law360. The plan was a scheme to deceive banks into processing more than $100 million worth of credit and debit payments for marijuana purchases. The major banks and credit card companies like Visa (NASDAQ: V) and Mastercard (NYSE: MA) refuse to work with cannabis companies as the product is still federally illegal. So any transactions using these products or lying to banks about the nature of the transactions is illegal. It is being suggested that the plea could be an indication that Patterson is with prosecutors and could testify against other defendants in an effort to lower his punishment

Privately-held multi-state cannabis operator Parallel and special purpose acquisition corporation (SPAC) Ceres Acquisition Corp.  (OTCQX: CERAF) have entered into a definitive business combination agreement involving a transaction that, if completed, would result in Parallel becoming a public company. The investors have an over-subscribed private investment in public equity (PIPE) of $225 million. The deal is expected to close in Summer 2021.The deal values Parallel at an implied enterprise value of $1.884 billion with expected net revenues of $447 million in 2021. 

Green Thumb Industries Inc. (OTCQX: GTBIF) announced it has raised approximately $56 million by selling 10 million of its subordinate voting shares, which was declared effective by the U.S. Securities and Exchange Commission (SEC) as of February 8, 2021.  Green Thumb said it had received and accepted offers from investors to purchase 1.6 million registered subordinate voting shares at $35.50 per share for a total of approximately $56 million. 

Acreage Holdings, Inc. (OTCQX: ACRDF, ACRHF) announced its subsidiary, High Street Capital Partners was selling Acreage Florida, Inc. to Red White and Bloom Brands, Inc.  (OTCQX: RWBYF) for $60 million. Acreage Florida is licensed to operate medical marijuana dispensaries, a processing facility, and a cultivation facility in the state of Florida. Last summer, Acreage had announced it was scaling back from its initial plan to be the cannabis company in the most states to one that was more focused on core-markets in just nine states in the Northeast, Mid-Atlantic, and Midwest. 

Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) released results for the fourth quarter and year ending December 31, 2020. Innovative Industrial delivered a fourth-quarter FFO of $1.36 missed by $0.07 and the revenue of $37.09 million missed by $1.41 million despite increasing by 110%. 

High Tide Inc. (OTCQB: HITIF) announced the closing of its previously announced “bought deal” offering that raised over  $22 million.

That’s the big news for the week.

Video StaffVideo StaffFebruary 23, 2021


Bengal Capital’s Sanjay Tolia points out the disconnect between Canadian cannabis company valuations and U.S.-based cannabis companies. Tolia points out a way to overcome this unfair advantage in the U.S. stock markets. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money. The Green Market Report focuses on the financial news of the rapidly growing cannabis industry.

Video StaffVideo StaffFebruary 22, 2021


Cypress Hill rapper and Dr. Greenthumb founder B-Real tells Green Market Report’s Debra Borchardt about the company’s plans for expansion. He also talks about why the customer is always right and why some celebrity brands are more successful than others. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with all the original content from GMR.

Video StaffVideo StaffFebruary 19, 2021


On Weed Talk News this week, NBA legend Chris Webber teams up with JW Asset Management to create a 100 million dollar investment fund for social equity. Webber is another example of a professional athlete making a difference for society. Six lobby groups combine their efforts to write to new President Joe Biden asking for an executive order to expunge the records of non-violent cannabis offenders. New Jersey Governor still waiting to sign his state’s new legislation into law, while South Dakota’s ballot question is now heading to that state’s Supreme Court. Is Weed going to be for sale in our nation’s capital after all? California’s fertile ground in Humboldt County bans outdoor growing of legal hemp while their cannabis crop continues to provide 80% of the illegal market in the U.S. Debra Borchardt’s Green Market Report, Solomon Israel’s Canadian report from MJBiz International’s bureau, and Vote Pro Pot Cast’s, Phil Adams with the DC Report Jimmy Young from Pro Cannabis Media anchors.

Video StaffVideo StaffFebruary 19, 2021


Psychedelic medicine biotech company MindMed (OTCQB: MMEDF) said it will acquire HealthMode for roughly C41 million. HealthMode is a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. The acquisition will give MindMed access to HealthMode’s Intellectual Property, platforms for clinical drug trials, and its entire twenty-four-person digital medicine team. MindMed said it will incorporate HealthMode’s machine learning (ML) engineering, product development, and operations employees into its newly established digital medicine division, Albert. 

Revive Therapeutics Ltd. (OTC: RVVTF) entered into an agreement with Newscope Capital Corporation (OTCQB: PHRRF) to buy PharmaTher Inc.’s intellectual property pertaining to psilocybin for roughly C$10 million. PharmaTher is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals.

Field Trip Health Ltd. (OTCQX: FTRPF) reported its third fiscal quarter results for the three ending in December. Patient services revenues of $316,329 represented a 235% increase over the previous quarter. Net loss for the third fiscal quarter was $8 million.

Champignon Brands Inc. (OTCQB: SHRMF) announced it will withdraw and refile its condensed interim consolidated financial statements and MD&A for the three and six month periods ended March 2020. The restatement is related to previously recognized intangible assets in connection with the acquisitions of Artisan Growers, Novo Formulations and Tassili Life Sciences  for roughly $12 million.

That’s it for this week. Psychedellux has been brought to you by the Green Market Report. 

Video StaffVideo StaffFebruary 19, 2021


The trading week was a little shorter as markets celebrated President day on Monday. However, there was still big news this week.


Verano Holdings began trading on the CSE this week using the symbol VRNO after closing the reverse takeover of Alternative Medical Enterprises better known as AltMed and sometimes referred to as AME. The stock quickly shot up from its listed price of $10 to $30 in canadian dollars. On a pro forma basis, the nine months of revenue would be $241 million and the net income would be $172 million making this one of the largest cannabis companies out there.


HEXO Corp. (TSX: HEXO; NYSE: HEXO) is buying Zenabis Global Inc.  (TSX: ZENA) in an all-stock deal valued at approximately $235 million. Zenabis had hinted that such a deal was in the making during its fight with Sundial.  In January, the company had said it had started talks with another significant licensed cannabis producer, so it seems Hexo was the company. 


five-time NBA All-Star Chris Webber announced a partnership with Jason Wild and JW Asset Management, LLC to launch a $100 million private equity cannabis fund that will invest in companies led by entrepreneurs of color pursuing careers in the cannabis sector.


GW Pharmaceuticals plc (Nasdaq: GWPH) reported total revenue for the fourth quarter of $148.2 million. The net loss for the quarter was $29.1 million. The total revenue for the full-year 2020 was $527.2 million, a 69% increase over last year.


Tilray, Inc. (Nasdaq: TLRY) said that total revenue in the fourth quarter increased 20.5% to $56.6 million. For the full year of 2020 total revenue increased 26% to $210.5 million. The net loss for the year decreased to $(271.1) million versus last year’s loss of $(321.2) million 


MedMen Enterprises Inc. (OTCQX: MMNFF) reported its net revenue was $33.8 million for the second quarter, up 0.3% sequentially excluding Evanston. Still, the company delivered a net loss of $68.9 million. The company reported that the general and administrative expenses were $33.8 million in the second quarter, a 47% decrease from the same period last year. However, revenues are barely covering the company’s expenses.


California-based cannabis company Harborside Inc.  (CSE: HBOR), (OTCQX: HBORF) has been fighting the IRS over tax payments related to IRC Section 280E. The company announced that the United States Tax Court ruled in favor of the Commissioner of Internal Revenue with respect to The SJW case which refers to San Jose Wellness which had two pending tax court cases. 

Video StaffVideo StaffFebruary 12, 2021


The week’s recap of psychedelic industry news:

Revive Therapeutics Ltd. received a receipt for its final short form prospectus for aggregate gross proceeds of $20 million through a syndicate of underwriters led by with Canaccord Genuity Corp. the company also filed a Business Acquisition Report in connection with its acquisition of Psilocin Pharma Corp. 

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) announced that Canaccord Genuity Corp. has agreed to purchase, on a bought deal basis, an aggregate of 30,000,000 units of the Company at a price of C$0.50 per Unit for aggregate gross proceeds to the Company of C$15,000,000. 

PharmaDrug Inc. (OTC: LMLLF) filed an application with the U.S. Food and Drug Administration to receive Orphan Drug Designation for N,N-Dimethyltryptamine or DMT in the treatment of stroke patients presenting for emergency medical assistance within 3-hours of symptom onset. 

Field Trip Health Ltd. (OTCQX: FTRPF) announced the official opening of the Field Trip Natural Products Limited Research and Development Laboratory for Psychedelic Fungi in Mona, Jamaica. The research facility, which is opening as part of Field Trip’s previously announced strategic partnership with the University of West Indies.

And finally, Red Light Holland announced it is legally selling natural microdoses to consumers, via Magic Truffles in their branded iMicrodose packs in the Netherlands. The company named Comedian, Russell Peters, Chief Creative Officer, and  Industrial Artist, Karim Rashid, was named Head of Design.

Next week I will be moderating a panel in the Mydecine speaker series on Feb 18 at The topic is “Can Psychedelic Drug Design Improve Safety and Efficacy for Medicine?” And it starts at 1:30 eastern

That’s the big news this week

Psychedellux was brought to you by the Green Market Report

Video StaffVideo StaffFebruary 12, 2021


Canopy Growth (NASDAQ: CGC) announced its third quarter fiscal 2021 results with net revenue of $153 million, an increase of 23% versus Q3 2020. Canopy Growth said that $99 million of that revenue was driven by an increase in Canadian recreational and International medical cannabis revenue. Despite the increase in revenue, the company also recorded an eye-popping net loss of $829 million. Canopy said that this was a $720 million wider loss than the previous quarter and blamed the loss on impairment and restructuring charges and other related charges of $416 million.

Zig-Zag maker Turning Point Brands, Inc. (NYSE: TPB) announced financial results for the fourth quarter and full-year ending December 31, 2020. For the fourth quarter, the company said net sales increased 31.2% to $105.3 million and the net income increased from $25.0 million to $12.7 million. Turning Point beat expectations as the average analyst estimate for the quarter according to Yahoo Finance was $0.76 and the average estimate for revenues was $101 million. For the full year. net sales increased 11.9% to $405.1 million and the net income increased $19.3 million to $33.0 million.

The Green Organic Dutchman Holdings Ltd.  (TGOD) (OTC: TGODF) announced unaudited consolidated gross revenue for the fourth quarter of 2020 is expected to be approximately $10.9 million, reflecting growth of 235% over the prior year. Still the company revised its Canadian net revenue forecast to a range of $40 million to $45 million from the previous forecast of $61 million. 

cbdMD, Inc. ( NYSE: YCBD) announced its financial results for its first quarter ended December 31, 2020. Net sales for the first quarter of fiscal 2021 increased by 22% year-over-year to a record of $12.3 million from $10.1 million from the prior year’s quarter.

Canopy Rivers Inc. (OTC: CNPOF) reported an operating income of $3.0 million for the fourth quarter. The net income was $1.4 million.  Other comprehensive income was $80.8 million for the quarter and that led to a total comprehensive income for the quarter of $82 million. 

Zenabis Global Inc. (TSX:ZENA) announced that it has established an at-the-market equity program that allows the Company to issue up to C$15 million of common shares 

Columbia Care Inc. (OTCQX: CCHWF) has entered into an agreement with Canaccord Genuity Corp. for 2.8 million common shares at a price of C$9.00 per share for aggregate gross proceeds of C$25 million It is expected that the offering will be primarily sold to one large institutional investor. The deal is expected to close on or about February 25, 2021. 

And that’s the big news this week, on Monday the markets will be closed for President’s Day.

Video StaffVideo StaffFebruary 5, 2021


Welcome to Psychedellux – the recap of the top psychedelic industry news for the week ending February 5, 2021.

Cybin Inc. (NEO:CYBN) closed its previously announced bought deal that issued over 15 million units of the Company at a price of CDN$2.25 per Unit for aggregate gross proceeds of CDN$34 million. 

Delic Corp., signed a binding agreement to acquire Ketamine Infusion Centers (KIC), which owns and operates two ketamine infusion treatment clinics.  one in Phoenix, AZ and one in Bakersfield, CA. In the last three years, the company has generated over $1.5MM in revenue.

Algernon Pharmaceuticals said it is going to pursue DMT for the treatment of stroke in humans and is planning clinical trials this year. The company said it is motivated  by results of a 2020 pre-clinical study where rats treated with DMT recovered motor-function more quickly and exhibited better neural growth of brain cells; plus brain lesions were significantly reduced compared to animals that did not receive DMT (Today’s Press Release with details).

In legislative news, 

The Campaign to Decriminalize Nature DC said that Initiative 81, the Entheogenic Plant and Fungus Policy Act of 2020, has been transmitted to Congress and the “Projected Law Date” is March 19, 2021.  Initiative 81 reforms police priorities to help ensure that DC residents benefiting from natural psychedelics known as entheogens are not police targets. Initiative 81 passed with support from more than 76% of DC voters in November.

In Australia, the TGA announced its interim decision not to amend the current Poisons Standard in relation to the use of medical-grade psilocybin and medical-grade MDMA as part of therapy to treat patients suffering from treatment-resistant mental illnesses including Depression, PTSD, and Substance Abuse. Mind Medicine Australia said it will contest the Decision Not to Reschedule Psilocybin and MDMA for Medical Use as Part of Therapy for Key Mental Illnesses. 

Psychedellux is brought to you by Green Market Report.

About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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