Video Staff, Author at Green Market Report

Video StaffVideo StaffNovember 25, 2020

1min440

Rebelle Dispensary in Great Barrington MA is quickly making a name for itself. The group is led by Charlotte Hanna who is committed to social equity causes. The dispensary turns over a percentage of its profits for social equity causes. Rebelle also prides itself on its retail design acumen and product curation. Check out the latest entrant to Massachusetts cannabis retail.


Video StaffVideo StaffNovember 20, 2020

3min2820

Once again it was another big week for earnings from some of the industry’s biggest players. 

Curaleaf (CURLF) reported total revenue of $182 million. A 195% increase over last year.  Still, the company had a net loss of $9.3 million. Current Curaleaf President, Joseph Bayern, has been appointed as the company’s next CEO. The current CEO Joseph Lusardi will be named Executive Vice-Chairman of the Board

Cresco Labs Inc.  (OTCQX: CRLBF) released its unaudited financial results for the third quarter with revenue hitting $153.3 million. This was a 63% sequential increase over the second-quarter revenue of $93 million and an even bigger jump over last year’s revenue of $36 million for the 2019 third quarter. The company also delivered a net income of $4.9 million for the quarter versus last year’s net loss of $85 for the same time period last year.

Trulieve Continues to Flex With Strong Revenue Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) reported revenue of $136.3 million for the third-quarter ending September 30, 2020. This was a 13% sequential increase over the second quarter and topped the analyst estimate for revenue of $131 million. Trulieve also delivered a positive net income of $17.4 million

Cannabis multi-state operator, Ayr Strategies, reported their third-quarter earnings today and revenue was up 61% quarter over quarter. The company reported a revenue of $45.5 million. 

The smoking accessory e-commerce giant Greenlane Holdings, Inc. (Nasdaq: GNLN) reported that its net sales fell 20% to $35.8 million in the third quarter ending September 30, 2020 versus $44.9 million in the 2019 third quarter. 

Vertically-integrated cannabis company, Harborside Inc., reported strong third-quarter results. The company reported total gross revenues of $19 million for Q3 of this year, up from $16 million in the second quarter. 

Captor Capital Corp. (CSE: CPTR) announced its common shares will no longer be traded through the facilities of the OTC in the United States. The U.S.  SEC has revoked the registration of the shares because the company has not been filing continuous disclosure documents.

Next week is Thanksgiving and we wish everyone a happy holiday. There will be no Marijuana Money next week. 


Video StaffVideo StaffNovember 13, 2020

5min2950

Verano Holdings, LLC is buying and merging with Alternative Medical Enterprises, LLC, Plants of Ruskin, LLC,  called AltMed to create the largest privately-owned cannabis company. The value of the transaction was not disclosed. Earlier this year Harvest health killed its plan to buy Verano in a deal valued at $850 million.

 It was a huge week for earnings with numbers coming from some of the biggest players. We’ll break it down into a winners, losers amd meh category. 

The winners are 

Green Thumb Industries or GTI had another tremendous quarter with revenue increasing 131% to $157.1 million. Revenue growth was driven primarily by the increased scale in the company’s Consumer Packaged Goods and Retail businesses.  

Canopy Growth Corporation (NYSE: CGC) reported net revenue of $135.3 million for the second fiscal 2021 quarter causing the stock to jump. This was a 77% increase over last year’s fiscal second-quarter revenue of $76.6 million. Still, Canopy delivered a net loss of $96.6 million versus last year’s net income of $242 million for the same time period.

Grow Generation is a specialty garden center with 31 locations across 11 US states. The company recently released their third quarter earnings, and reports that, “Revenues rose 153% to $55.0 million, for third-quarter 2020, versus $21.8 million for the same period last year.” 

Harvest Health & Recreation Inc. (OTCQX: HRVSF) reported revenue rising 86% in the third quarter to $61.6 million. This was a sequential increase of 11% 

Acreage Holdings, (OTC: ACRHF, ACRDF) reported their third-quarter revenue of $31.7 million, a 42% increase compared to the same period in 2019. It also was a 17% increase compared to the second quarter.

In the so so category:

Aurora reported a slight increase in total and net revenue in Q1, with numbers reaching $67.8 million, but then the company announced a $125 million offering and that was not well-received by shareholders because of the company’s elevated cash burn

Tilray, Inc. (Nasdaq: TLRY) reported that its total revenue for the third quarter was flat at $51.4 million and up 2.0% sequentially. Net losses fell to  $(2.3) million 

Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) reported  that its revenue  was rising to $25.2 million only a tiny bit better than the $25.1 million in 2019. The net loss was $6.6 million which was higher than last year’s net loss of $1.3 million. 

Not so great earnings included

Canopy Rivers Inc. (OTC: CNPOF) which acknowledged taking a $112 million hit for its PharmHouse investment.  The total comprehensive loss for the quarter was $87.0 million.

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI),shares plunged this week on an  underwritten public offering of units for C$60 million. 

In psychedelic news, Cybin began trading this week and Compass reported that it has enough cash to last it through 2023. 

 


Video StaffVideo StaffNovember 10, 2020

1min820

Mike “Zappy” Zapolin participates in both sides of the psychedelic marketplace. He’s an advocate for the use of psychedelic drugs and fights for legalization with his group, the Mind Army. He’s also a businessman and is building a ketamine company because of his passion for treating people. Green Market Report was able to chat with Zappy on several psychedelic topics. Thank you for watching the Green Market Report! Be sure to subscribe to our channel. It’s free.


Video StaffVideo StaffNovember 6, 2020

5min2761

Despite not officially deciding the presidential election, american’s made it clear they wanted legal cannabis as five states passed some form of legalization. Arizona, Montana, New Jersey, and South Dakota have all legalized marijuana for adults 21 and older, as voters in each state approved their respective ballot initiatives at the ballot box. New jersey was closely watched as many see this decision as tipping the big market of New York to legalize adult use cannabis.

 

Psychedelic legislation was also a big winner this week. In Washington D.C., the decriminalization law  Initiative 81 secured enough votes from residents to pass. The plants and fungi covered by Initiative 81 include psilocybin mushrooms, ayahuasca, iboga, and mescaline-containing cacti, which can help those suffering from depression, anxiety, and addiction.Oregon became the first state in the country to legalize psilocybin as voters in the state passed Measure 109. The measure will allow regulated use of psychedelic mushrooms in a therapeutic setting. The product will have to be stored and administered at licensed facilities.

We’re just starting to kick off earnings season.

GW Pharmaceuticals plc reported total revenue of $137.1 million for the quarter ending September 30, 2020, a big jump over the $91.0 million for the same time period in 2019. This beat the Yahoo Finance average analyst estimates of $127 million for revenue.

The market was cheered by the drop in net losses to $12.2 million versus last year’s net loss of $13.8 million for the 2019 third quarter. 

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) announced preliminary financial results for its third-quarter ending September 30, 2020, with net sales of $51.0 million, representing 8% sequential and 90% year over year growth. All amounts are in Canadian dollars. TerrAscend did not say whether there were any net profits or losses.

Innovative Industrial Properties, Inc. (IIP)(NYSE: IIPR) reported total revenues of approximately $34.3 million for the third quarter ending September 30, 2020. This was a 197% increase from the prior year’s third quarter. 

Acquisitions continued to happen this week.

Aphria Inc. (TSX: APHA) (Nasdaq: APHA) entered into an agreement of merger and acquisition to acquire SW Brewing Company, which is one of the largest independent craft brewers in the United States based on volume in a deal valued at $300 million. 

Ayr Strategies (OTCQX: AYRSF) announced it is buying a vertically integrated operation in Arizona, including cultivation and processing facilities and three licensed dispensaries in a deal valued at $81 million.

GrowGeneration Corp. (NASDAQ: GRWG) continues to add to its stable of hydroponic stores with the latest acquisition being The GrowBiz. GrowGen did not disclose how much it paid for the chain, which is the country’s third-largest, but did note that it is expected to deliver $50 million in annual revenues. The deal is expected to close before fiscal year-end 2020.

Canopy Growth (CGC) has announced that it will be transferring its U.S. stock exchange listing from NYSE to Nasdaq on November 13, 2020 after market close. 


Video StaffVideo StaffNovember 2, 2020

1min1540

Four time NBA Champion John Salley joined TIDL hemp oil company as the new Vice President of Business Development. Green Market Report was able to speak with Salley and TIDL CEO Badal Shah to learn more about the company and its plans. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money.


Video StaffVideo StaffOctober 30, 2020

16min1410

Debra Borchardt (Green Market Report):

Nial DeMena is the CEO of Manna Molecular and one of the cool things I learned about this company recently is that within Manna is another company called Vella. And it has a lot to do with products geared towards women and in particular, women and their sexuality. And I’m going to turn it over to Nial because Nial, you were telling me about some of the research that Manna had done, and that’s really what sets Manna Molecular apart. And my opinion is that this is a company that really heavily focuses on the science and they let the science take them wherever that goes.

Nial DeMena, CEO Manna Molecular:

Absolutely.

GMR:

Tell me how Vella came about?

Nial DeMena:

So Vella came about, we were looking for a second product. We did patches first and that’s a very niche product, a very high barrier to entry, and requires specialized knowledge. And we liked that method and we wanted to apply it to whatever our second product would be.  I had the good fortune of being asked to sponsor an event in LA and I said, “Yes.” And they had the former head of the FDA, David Kessler there and the host was this doctor, Dr. Harin Padma-Nathan. And as he was recruiting me just to sponsor his event, I got to talking with him and really liked him and just said, “Hey, you’ve had a really amazing background, what do you think about cannabinoids in women and sex?” And he was kind of interested in it and the more I talked to him, the more I convinced him that this would be a good idea. And I eventually ended up recruiting him to the company and we agreed to follow the same development pathway of Viagra and Cialis, two drugs that he was the principal investigator for.

And lo and behold, we’ve found in a study that there is a dose-response relationship to CBD and smooth muscle tissue relaxation of the vagina. And from there, we got really excited because that’s the same pathway that all these other drugs work for. And we went on to test it in 30 women, had a 90% success rate across four orgasm outcome measures, and a 16% success rate across two arousal measures, and this is a clinically validated instrument that we modified for our purpose. And then we tested it in a population of women that were taking different antidepressants and we found out that 100% of them were able to orgasm after they were not able to orgasm since going on their drugs.

So all of those things combined made us really excited to move forward and one really cool thing that we’re going to do more of is this photoplethysmography study where you look at temperature and electrical response using probes. And this is from Nicole Prause’s lab. So she’s featured in a lot of articles and we have a relationship with her. So we got an end of one on that, and that was very positive too. So through every indicator we took, we tried to disprove it and we just kept getting better and better responses.

GMR:

This is a topical product, correct?

Nial DeMena:

We’re calling it a women’s pleasure serum and it’s a topical pre-placed serum for arousal and orgasm. So the idea is you put it on 20 or so minutes before you have any sexual activity and it causes relaxation down there and that allows enhanced sensation and engorgement. And these are hallmarks of a good sexual experience.

GMR:

What other products are coming out of the Vella umbrella?

Nial DeMena:

Well I can’t say too much because there is a lot of IP, but I will say this: we have noticed the effect of the relaxation of smooth muscle. There’s smooth muscle intravaginally, there’s smooth muscle anally, so there’s a lot of interesting things that we can do but we really want to focus on women. We have two really awesome women executives Bobel Hoda and Carolyn Wheeler who we’re really lucky to have. And they’ve been amazing in helping us market this and all of our agency partners who we’ve been working with on the creative side; they’re all women too.

So we’re really excited to bring this to market as a separate standalone company and a separate standalone product. And we envision different products in that time sequence so we can have something pre-play like Vella, we can have something during and post. And then there’re other things that we can do to attack pain perhaps. So that’s what’s really exciting is that we’ve discovered a completely novel effect and we’re just application engineering at this point.

GMR:

I’m so happy that you mentioned these female executives because that was something that we were seeing in the cannabis industry with some of these larger corporate companies where they were developing a female product, and it was kind of pinkwashing in a way where they would have very feminine looking product packages and then when you would look at the team behind that, it was just a marketing team and mostly made up of men.

So I love that you are clearly sensitive to the fact that you want to have women driving this bus because that’s just so important. For maybe our readers that aren’t as familiar with Manna Molecular, could you maybe talk a little bit about the company and the other products because I know them, but I just don’t think maybe our readers are as familiar with your company?

Nial DeMena:

Well, I think that’ll change pretty soon. We are in about twelve markets. We do some white labeling, although we’re really moving towards a strictly brand play because we’ve gotten the recognition that we’ve gotten. But we make transdermal patches and we developed a method where our business licensees and people that are state-licensed can basically kit our patches, take their extract, and apply it at the point of production and create a very high-quality repeatable product that’s the same across every state.

So while in California, we are selling patches under Papa & Barkley’s name, in a state like Ohio, we’re under our own name and that’s more common than not. So in about nine of the twelve, we’re under our own name. We’ve got about three white labels and right now in fact, we’ve just released a speed tab, which is a sublingual tablet that onsite is very quick and we think of it as an ultra-fast edible. And we think that that category, these units of gummies, they’re a great package for this but I think a fast tablet that tastes good. That’s another thing we wanted to do is we’re using naturally extracted terpenes and adding really cool flavors and effects to these so there’s something that you can use during the daytime to focus.

We’re making a CBN version, which we’ve gotten really, really good feedback on that to help people fall asleep and I know COVID has really messed with people’s sleep patterns. And we also have a CBD version and we’ll be making different ratios because it’s a fast-acting tablet and it lasts for about 60 to 90 minutes. So you can use it to get high, you can use it to treat your pain or inflammation with CBD, or you can use it to go to bed with CBN and that’s something that I’ve been using really recently and it’s certainly nice to have in your toolkit.

GMR:

Well, I really liked the idea about the fast onset because that’s always been the real trick with edibles for people. You don’t know whether it’s going to take an effect in a half-hour, an hour. It’s really hard to plan around that.

Nial DeMena:

And the offset too. Not to interrupt, but it’s the offset to me has always been the most important because hey, I want my experience but I’ve got to go somewhere in three hours or four hours. And I think everybody right now, they’ve got multiple Zoom calls, you’re at home, everybody knows that you’re a home so they’re more likely to call you at night or at odd hours because you’re not going to be out. And so I think having something that can fit into somebody’s schedule really nicely. You could watch your favorite TV show and by the time the show’s over, the effects are over.

So that’s how we thought about it is that there’s these really discreet periods of time when you’d like to be able to switch it on and switch it off. And for people that don’t like vaping and given all the vape related injuries we’ve been seeing lately, that’s not going to go away. Inhalables are a big part of the cannabis market and we understand that, but I do think that people are looking for different methodologies and there has been an incredible shift towards edibles in this year specifically and we think that there’s room to play in that space.

GMR:

Great. Well, as we’re aware, Manna is not a publicly-traded company. You guys continue to be-

Nial DeMena:

Not yet.

GMR:

A private company.

Nial DeMena:

Future.

GMR:

You are raising capital though, correct?

Nial DeMena:

Yeah. Yeah. We have money coming in from the spinoffs. So Vella is raising, we’ll have $10 million. Vella is actually paying Manna back for the development costs of Vella And we’re coupling that with more investment from our investment partner, Merida Capital, One East has been a great venture capital firm behind us. We’ve been talking to a few others.

Whenever you have money and things are going well, that’s the right time to get more investors and our backers have been incredibly patient with us. These are slow development time incubation, but we hope that the payoffs have been really good because we are discovering really cool things that no one’s ever done before and I think there’s renewed interest in what we’re doing. And we just opened a new ISO accredited facility to produce our patches. So we’re going to really look to a big box pharmacy chains now, because we can do ISO 13485, which is GMP as well, but that’s like sterile manufacturing goods. So we know we can do these at scale. We can do them super high quality and we have a new adhesive and performance data on that too.

So we feel like we’re trending up and our investors feel the same way too, but we certainly welcome other people and other perspectives and other investors. We’d like to get bigger as a company, we’d like to do more deals with the MSOs that we have and expand into states with players that we already work with. So all of those things require capital and operational overhead, but I think we’ve got the platform technologies to expand, to add new terpenes, new experiences in our patches and our speed tabs. And we have a beverage powder coming out in about three months too. Again, I think we’re really more recreational focus than we were before and ideally, consumers will really benefit from that.

GMR:

Thank you so much for spending your time with us at the Green Market Report. I was super excited when I heard all this stuff about Vella and I really, really wanted to bring that to our reader’s attention and our viewers on our YouTube channels. So if you haven’t already, subscribe to our channel now, it’s free. And Nial, thank you so much for joining us and we’re going to keep our eye on Manna Molecular.

Nial DeMena:

I appreciate it and you’re one of my favorite every interviewees. So thank you and appreciate the time.

 


Video StaffVideo StaffOctober 30, 2020

6min2650

Happy Halloween everyone. This has certainly been a scary year and let’s celebrate that there are only 2 months left in 2020. This week the Dow fell over 2,000 points as fears of another covid lockdown took over amidst rising hospitalizations.

It apparently seemed like a good week to plan on issuing more shares

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) filed a new prospectus with securities regulators to make offerings of up to $500 million of common shares. Akerna Corp. (Nasdaq: KERN) has priced a public offering of 5,000,000 shares of its common stock at a public offering price of $2.40 per share. 

TILT Holdings Inc.  (OTCQB: TLLTF ) announced preliminary financial results for the third quarter ended September 30, 2020, the promotion of Gary Santo to President of TILT, and the appointment of Brad Hoch as TILT’s permanent chief financial officer. Third-quarter revenue is expected to be  $40 – $41 million, a 4% – 6% increase from Q2 2020 revenue of $38.6 million.

California-based cannabis company Hollister Biosciences Inc.(OTC: HSTRF) gave an update on its third-quarter 2020 performance sales figures. The company said it generated record quarterly revenue of C$ 12.5 million. The company did not state whether there was any net loss or profits for the third quarter. These figures would be a sequential increase over the revenue from the second quarter ending June 30th, 2020, which was $8.47 million.

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF ) announced that Victor Mancebo has resigned from the Board of Directors and his role as Chief Executive Officer, effective December 31, 2020. George J. Gremse, a member of the Board of Directors, has been appointed as Interim CEO. This comes after shareholders expressed dissatisfaction with the company’s disappointing cannabis production in the state of Florida

Real Brands Inc. (OTCPK: RLBD) has completed a reverse merger to acquire Canadian American Standard Hemp Inc., (CASH) effective immediately. Real Brands’ name and trading symbol will be maintained, with CASH shareholders acquiring majority control of Real Brands.

Nabis Holdings defaulted on an $8 million debt payment associated with its acquisition of Perpetual Healthcare in Arizona. 

In psychedelic news this week, Champignon stock was told to stop trading on the Canadian exchange for failure to submit the required documentation for its acquisitions. The company said it was in the process of getting caught up on its paperwork.

 


Video StaffVideo StaffOctober 27, 2020

1min1490

It’s time for another Unboxing video from the cannabis world. This box is from the Nugg Club monthly cannabis subscription company. This box included products from Plus Products, Sunspire Farms, Claybourne Co., edibles from Flav Gummies, Oasis Cannabis, Heavy Hitters, and flower from Dropout Cannabis. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money.


Video StaffVideo StaffOctober 23, 2020

5min4680

The Flowr Corporation (TSXV: FLWR) (OTC:FLWPF) is buying  Terrace Global in a deal valued at $63 million. Together the two companies have a strong balance sheet with more than $31 million in combined cash and marketable securities to support their growth.

Vibe Growth Corporation (CSE: VIBE) (OTC Pink: VBSCF) announced preliminary unaudited third-quarter 2020 financial highlights. The company said that its revenue is expected to exceed $7.25 million, a 28% sequential increase over the second quarter. Vibe also said it expects to continue to report positive EBITDA and adjusted funds flow in Q3 2020 due to the strategic initiatives implemented earlier this year which resulted in improved margins and operating efficiencies.

Lots of financing moves to go over this week as companies try to clean up balance sheets

Harvest Health & Recreation Inc.  ( CSE: HARV ) has entered into an agreement pursuant to which Eight Capital, as lead agent and bookrunner, will purchase on a “bought deal” basis 13,274,400 units of the Company at a price of $2.26 per Unit for aggregate gross proceeds to Harvest of $30 million.

Planet 13 upsized a previously announced offering of units. Earlier this week, the Vegas superstore company said it was raising $20 million with 4.7 million units at C$4.30 per unit. The new deal is now 5.825 million units at the same price bringing in $24 million. The closing of the Offering is expected to occur on or about November 5

4Front Ventures Corp Announced a C$15 Million Bought Deal Public Offering. the company entered into an agreement with Beacon Securities Limited. The underwriters have agreed to purchase, on a bought deal basis, 21,430,000 units.

Acreage Holdings (OTCQX: ACRHF, ACRDF), announced that it retired short-term strategic financing. The financing was announced in June 2020 and the company paid an aggregate amount of approximately $18 million in order to retire the full balance and accrued interest. 

And finally, LeafLink’s October data reported a 118% year-over-year (YoY) increase as measured by LeafLink’s Gross Merchandise Value or the total value of merchandise sold over a certain period of time, so in this case, January-September. LeafLink’s data is representing wholesale cannabis data from six key legal states: Nevada, California, Colorado, Oregon, Arizona, and Michigan.  Michigan’s YoY GMV increased by a whopping 342%, and out of these six states, it is the strongest escalation in GMV.

 



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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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