Video Staff, Author at Green Market Report

Video StaffVideo StaffSeptember 20, 2018

1min500

The Green Market Summit hosted by the Green Market Report on September 14, 2018, featured a panel that looked into the effect of a legalized adult use marijuana market on existing medical marijuana markets. Panelists included Adam Orens of Marijuana Policy Group, Jeannette Horton and Jessica Billingsley from MJ Freeway and Emily Paxhia of Poseidon Asset Management.

The panel resulted in a new report issued at the Summit titled, “The Economics of Adult Use Marijuana on Medical Marijuana Markets.” The findings from the data provided by MJ Freeway noted that instead of adult use legalization cannibalizing medical marijuana markets, the medical markets turn out to be very resilient.


Video StaffVideo StaffSeptember 19, 2018

1min4850

At last week’s Green Market Summit in New York City, TheStreet’s founder and CNBC star Jim Cramer interviewed The Green Organic Dutchman’s (TGODF) Chief Executive Officer Brian Athaide in a keynote address. Cramer was specifically interested in Athaide’s background at Procter & Gamble (PG) and how that experience would translate to the cannabis industry.

Cramer and Athaide also discussed cannabis company valuations and whether they were too rich. The Constellation Brands (STZ) investment into Canopy Growth Corp. (CGC) was also discussed. Athaide told Cramer that he didn’t think Constellation overpaid at all. He thinks they actually got a good deal. This is a fascinating interview that is well worth watching.

Video editing was performed by Small Cap Nation.


Video StaffVideo StaffSeptember 10, 2018

3min720

Green Table Global recently held an event in Southampton NY bringing together cannabis companies and cannabis investors. It was a beautiful evening and even though it was a Sunday night, there was plenty of interest. Investors listened to presentations from Matt Karnes of GreenWave Advisors, Multiverse Capital, Green Revolution, Franki Global, and Kannalife.

Multiverse Capital is a Venture Capital Firm Investing in all Sectors of the Global Cannabis Industry. The Multiverse name is reflective of our broad-based strategy since it invests in both private and public cannabis companies, globally. Multiverse Capital has 3 distinct cannabis investment venture funds: medicinal, adult use (recreational), and ancillary (real estate, ancillary products & services, and biotech). Multiverse Capital management and advisors have worked with hundreds of private and public cannabis companies in over 15 countries and have a combined 16 years of commercial cannabis and industrial hemp experience.

Green Revolution is the first crossover cannabis health and lifestyle brand in the country. At Green Revolution, the company has created a family of cannabis-based products for all vital dimensions of your life. By using the latest scientific methods and innovative technologies, Green Revolution has become a recognized leader in multiple product categories within the cannabis industry and is poised for national expansion. Its products serve a broad demographic from 21 to 80 and have consistently proven to be the go to option for veteran users as well as people experiencing cannabis for the very first time.

Franki Global Inc. is a unique video-based social media experience via its brand “franki”. franki connects consumers and businesses through an authentic social video review experience. Unlike other review apps, franki invites consumers to create video reviews that share their true opinion and allowing franki users to discover their next adventure – all whilst giving businesses and brands valuable feedback on their products and services.

Kannalife Sciences, based at the Pennsylvania Biotechnology Center is a pharmaceutical and phyto-medical company involved in the research and development of novel therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants. Kannalife holds an exclusive license with NIH for the commercialization of US Patent #6630507, “Cannabinoids as Antioxidants and Neuroprotectants” to treat Hepatic Encephalopathy (HE) and an additional license to treat Chronic Traumatic Encephalopathy (CTE).


Video StaffVideo StaffSeptember 7, 2018
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3min3000

Next week is the Green Market Summit on September 14 in New York City, go to www.greenmarketsummit.com to buy your tickets. We’ve got TheStreet’s Jim Cramer interviewing Brian Athaide, the CEO of The Green Organic Dutchman (TGODF) and Danny Moses of Moses Ventures, the trader made famous in The Big Short will talk about why he’s long marijuana. All the conference goers will get to attend the one-year anniversary party for the Green Market Report.

It was a shortened trading week with markets closed on Monday for Labor Day, but there were lots of financial deals happening.

Cronos Group (CRON) announced a partnership with Gingko Bioworks to produce cultured cannabinoids in a deal potentially valued at $122 million.

The Flowr Corporation raised $36 million in an oversubscribed offering ahead of its plans to do a reverse takeover of the Needle Capital Corp. This is expected on or about September 10th. This company is led by former founders of MedReleaf.

Canndescent raised another $13 million that’s in addition to the $10 million they already raised. The California cannabis company will use the money for expansion.

Liberty Health (LHSIF) reported that its second-quarter sales jumped 95% to $2.2 million. The company also got approval by Florida to implement FlorPass as the state’s first online patient management system. the company said that “The growth in revenue reflects the wider recognition of the Liberty brands in terms of quality and consistency as well as the patient-centric approach that the Company uses. The corresponding patient count increased to almost 10,000 patients at the end of August from 4,600 at the end of May, a 112% increase over this time period.”

Charlotte’s Web (CWEB.CN) closed on a $5.6 million private placement, this follows the company’s launch on Canadian markets last week.

Aurora Cannabis (ACBFF) closed on its big $200 million debt facility and the company got The Green Organic Dutchman to agree to an extension for its investment option into the company.

And finally, Kush Bottles (KSHB) officially changed its name to Kushco Holdings.


Video StaffVideo StaffAugust 31, 2018

4min5895

As a reminder folks, the Green Market Summit is on September 14 in NYC, head to www.greenmarketsummit.com for your tickets. This is the first time you will see TheStreet’s Jim Cramer interview The Green Organic Dutchman CEO Brian Athaide.

Charlotte’s Web, the cannabis company responsible for turning CNN’s Dr. Sanjay Gupta into a medical marijuana believer filed for an IPO worth C$100 million and began trading on Thursday under the symbol CWEB. That’s a pretty rich valuation considering the company only had $40 million in revenues for 2017. Having said that the company has a 14% market share for CBD products

Early this week, Plus Products filed a  prospectus for its IPO and is planning to list shares on the Canadian Securities Exchange. The company hopes to raise $15 million through the offering,

CannaRoyalty Corp.  (CNNRF) agreed to sell its equity stake in Alternative Medical Enterprise or Alt-Med to  Tidal Royalty Corp. (TDRYF) for $8 million. Canna Royalty will continue to have the right to license MÜV products in California, Nevada, Canada and other select markets. CannaRoyalty said that the sale of AltMed represents a roughly 168% return on investment for its shareholders.

CV Sciences, Inc. (CVSI) issued a statement denying that it had violated securities laws. The statement stemmed from a claim by Citron Research that CV Sciences had a patent application rejected by the United States Patent and Trademark Office (USPTO) and that it didn’t disclose this to shareholders. That prompted a class action lawsuit. CV Sciences said it appealed the rejection, but didn’t really address whether it had told shareholders about the patent office’s communications.

Lots of earnings this week as we close out the third quarter of the calendar year here are the highlights.

MPX Bioceuticals (MPXEF) reported that its revenues increased 224% to 14.5 million Canadian dollars versus last year’s $4.5 million. Still, though MPX delivered a net loss of 11 million Canadian.

Green Thumb Industries (GTBIF) announced that its revenues in the second quarter rose 25% from $10.9 million to $13.6 million, driven mostly by the increased wholesale distribution of its finished branded products to retail customers in Illinois and Maryland, as well as increased traffic at the company’s retail stores.

Tilray (TLRY) reported that its revenues increased to $9.7 million, an increase of 95.2% over last year’s $4.9 million for the same time period. The company said that the jump was due to increased patient demand in Canada, sales to licensed producers and international sales.

In addition to these companies, you can get more details on earnings from Golden Leaf Holdings, True Leaf Medicine, FluroTech, WeedMD, VIVO Cannabis and Kalytera therapeutics on the Green Market Report website.

This weekend is Labor Day and so markets will be closed on Monday.


Video StaffVideo StaffAugust 24, 2018

4min4800

Don’t’ forget to buy your tickets now for the Green Market Summit to be held on Sept. 14 in NYC. For the first time ever you’ll get to see TheStreet founder Jim Cramer interview The Green Organic Dutchman’s new CEO Brian Athaide. This week TGOD said it is acquiring HemPoland in an immediately accretive deal

The state of California released its tax data for Q2 cannabis sales last week.  Tax revenue from the cannabis industry totaled $74 million from April 1, 2018, through June 30, 2018. However, the state is behind what it had estimated it would get. For the first six months California only bro,ught in $135 million, not the $175 million it expected.

MedMen (MMNFF) said on Monday that its stores accounted for roughly six percent of all legal retail sales of cannabis and cannabis products in the second quarter for the state. On a separate note, MedMen signed an exclusive deal to use the iconic Woodstock brand on cannabis products and get premium placement at Woodstock branded festivals.

Namaste Technologies Inc. (NXTTF) signed a wholesale supply agreementwith Manitoba-based licensed producer, Bonify Inc.  Namaste will buy bulk cannabis products through the wholly-owned subsidiary, Cannmart. Bonify is a leading provider of medical marijuana and it operates a large-scale cultivation facility.  Namaste also signed a revenue sharing agreement with cannabis business tech company Cannvas MedTech Inc.

CannaRoyalty reported that its second quarter revenues jumped 266% to C$3.5 million Canadian dollars and the company delivered a net income of $9.3 million. Compare that to last year’s C$2 million loss for the same time period.

Toronto-based Emblem Corp. (EMMBF) reported second-quarter revenues of $1.5 million for the quarter ending June 30, 2018, an increase of 180% over last year. The company also delivered a gross loss of $159,000 for the quarter versus last year’s zero amount and a let loss of $4.7 million versus last year’s net loss of $2.9 September

Kaya Holdings had a 45% increase revenues with $291,000 for the quarter. It’s a 60% increase year-over-year.

Cannabis Strategic Ventures acquired The Asher House Pet CBD brand.

BlackRock is now the largest institutional holder of 22nd Century group stock

Canopy Growth said that its venture arm Canopy Rivers will complete its Reverse Take over of AIM2 during the week of September 17 and will use the symbol RIV. As a side note, Canopy Rivers will be at the Green Market Summit.

 

 


Video StaffVideo StaffAugust 17, 2018

4min4081

Buy your tickets now for the Green Market Summit to be held on Sept. 14 in NYC. Go to www.greenmarketsummit.com for details.

The big news this week was the $5 billion investment by alcohol company Constellation Brands (STZ) into Canopy Growth (CGC). Constellation made an earlier investment in the company late last year and this recent move brings its total ownership up to 38%. Constellation also paid a premium for its shares. Canopy plans to use the money for strategic expansion into other countries.

That wasn’t the only big deal this week.

The longtime Bay Area Harborside dispensary which is actually a company called FLRish Inc. is entering into a binding letter agreement with  Lineage Grow Company Ltd.  (CSE:BUDD) for a reverse takeover in a deal valued at C$200 million. Lineage will acquire all of the outstanding shares of Harborside in exchange for newly issued shares of Lineage.

C21 Investments Inc. (CSE: CXXI)  has entered into an agreement to acquire Oregon-based premium cannabis edible companies Grön Chocolate and Grön Confections. The deal is expected to close by November 1, 2018. C21 has agreed to pay Grön unitholders $6.8 million plus the bonus earn-out shares of $4.375 million

Cronos Group (CRON) stock popped over two percent in early market trading after the Canadian cannabis reported that its revenue for the second quarter jumped 428% to $3.4 million. It was an increase of $2.8 million over the previous year’s quarter.

The main drivers behind the revenue increase were an expansion in patient onboarding, an increase in average sales price and the strong growth in cannabis oil sales. Second quarter cannabis sales were responsible for 40% of the company’s domestic medical sales.

The Green Organic Dutchman (TGODF) reported its quarterly results that demonstrate the company is still in a phase of ramping up as there are no sales to report as of yet. The net loss for the quarter ending June 30, 2018, was C$8.5 million or C$0.04 per share versus last year’s C$2.3 million loss or C$0.02 per share.

MedMen (MMNFF) reported its unaudited fiscal fourth-quarter sales of $19 million. The sales come from 7 locations in Southern California and do not include the newest store in Abbot Kinney or the store that was just opened in Las Vegas. The company said it would release its full-year audited results in October.

Cowen Research initiated coverage on Tilray Inc. with an Outperform rating and a $34 price target.

Stifel initiated a buy rating on GW Pharmaceuticals (GWPH) and $181 (36% upside) price target citing bullish prospects for Epidiolex.


Video StaffVideo StaffAugust 13, 2018

3min2120

iAnthus Capital Holdings (ITHUF) recently broke ground for its new medical marijuana facility in Warwick, New York. The company and its subsidiary, Citiva are celebrating the groundbreaking of its medical cannabis facility.

Citiva is one of only ten licensed medical cannabis producers in New York State. This location used to be the Mid-Orange Correctional Facility, and will eventually support up to 125,000 square feet of total cultivation and processing space, with an estimated yearly medical cannabis production of 2,400 kg.

“We’re excited to be taking the first steps in building out our robust and comprehensive medical cannabis program in the State of New York. The iAnthus and Citiva teams have worked incredibly hard to reach this milestone,” said Hadley Ford, CEO of iAnthus Capital. “The growth and success of our Warwick facility will lay the foundation for the rest of our operations across New York State, and we look forward to continued expansion, development, and most importantly, service to our patients, through our vertically integrated operations.”

According to the company statement, Phase 1 of the buildout is projected to be completed in the first half of 2019. The Warwick site can eventually support up to 125,000 sq. ft. of total cultivation and processing space and will be built out in several phases. Citiva purchased the eight and a half acres of land for the Warwick facility in May of 2018 for US$526,000.

Warwick is pleased to welcome one of the nation’s leaders in the medical marijuana industry to the Warwick Technology Park and is honored that Citiva has found a home in our town,” said Michael SweetonTown of Warwick Supervisor. “Our goal in acquiring the Mid-Orange Correctional Facility was to bring well-paying jobs to the area, and we look forward to seeing this come to fruition through the official groundbreaking of Citiva’s medical cannabis facility.”


Video StaffVideo StaffAugust 10, 2018

3min3520

It was a busy week for earnings and most of them came from the biotech side of the industry.

GW Pharmaceuticals reported that its revenue rose 34.6% to $3.5 million and its net loss fell 31.7% to $35.7 million. The company also said it was gearing up for the launch of its drug Epidiolex, which was approved by the FDA by hiring more people. GW also continued to state that it expects cannabis to be rescheduled as a result of the FDA approval.

Insys Therapeutics Inc. (INSY) delivered its second-quarter numbers on Wednesday missing analysts estimates for revenues and earnings. This was following an earlier announcement that it had settled with the Department of Justice saying that it had agreed to pay $150 million over five years.

Arena Pharmaceuticals reported a net loss of $31 million or 65 cents per share, which missed analysts estimates by 3 cents. Don’t worry, the company is sitting on a cash equivalent and investments balance of $592.4 million.

General Cannabis Corp (CANN) announced financial results for the quarter ended June 30, 2018. The company delivered a net loss of $3.6 million for the quarter a 130% drop from the previous year’s loss of $1.5 million for the same time period. The loss per share was ($0.10) versus last year’s loss of ($0.08). Revenues jumped to $1.1 million from last year’s $833,000.

In the non-earnings news – Willam “Beau” Wrigley joined Surterra Wellness’ board and helped the company close a $65 million fundraising round bringing that company’s total raise to $100 million. The medical marijuana company is focused on the Florida and Texas markets.

Navy Capital invested $3 million into Nevada-based Oasis Cannabis. The deal could go higher if the overallotment is taken pushing it to $5.75 million.

Aurora Cannabis entered into an LOI to acquire HotHouse Consulting.

Sugarmade, Inc. (SGMD), a publicly traded cannabis-related hydroponics supply companies is returning to the OTCQB Venture Market.

Mentor Capital, Inc.(MNTR), an M&A and funding provider for the cannabis and medical marijuana sector, will start to trade on the OTCQX Best Market effective today


Video StaffVideo StaffAugust 3, 2018

3min4161

Here are the top financial cannabis news stories for the week ending August 3, 2018.

Scythian Biosciences is taking the money it received from selling its Caribbean and Latin American assets to Aphria and is entering the Florida market. It is purchasing CannCure along with two other entities in a deal valued at $136 million.

Maricann upsized its private placement to $35 million.

Earnings season is underway and we had quite a few companies deliver their numbers, so let’s jump right in.

An overproduction of cannabis in California and regulatory changes put pressure on the Hawthorne division of Scotts Miracle-Gro (SMG). At first glance, it looked like a strong quarter with sales increasing 2% for the overall company and the Hawthorne division, but the cannabis sales actually dropped had it not been for acquisitions.

CV Sciences (CVSI) popped on its overall solid second quarter. Sales rose 203% to $12.3 million and the gross profit came in at $9 million, a huge improvement over last year’s $2.8 million.

Isodiol International (ISOLF) reported a net annual loss of C$36 million, but revenue came in at C$19 million, well above last years’ $300,000 and the company recorded a gross profit of $8.8 million.

Organigram (OGRMF) stock rose when it reported sales of $3.7 million for the fiscal third quarter and earned net income of $2.8 million.

Zynerba Pharmaceuticals (ZYNE) delivered a net loss of $12 million, but the company is still sitting on $43 million in cash. The company recently completed an offering, which investors felt was unnecessary because it diluted the stock but it has set the company up with a big cash cushion.

And finally. While everyone is touting the size of the California cannabis market, the job growth in the industry out there is slowing, while cannabis job growth in the northeast is booming. A new report by Joblift noted a surge in medical marijuana job postings this year in Pennsylvania, Massachusetts and yes even here in NY.

Green Market Report is hosting its first cannabis conference on Sept. 14. Go to www.greenmarketsummit.com for more details.

 



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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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