Video Staff, Author at Green Market Report

Video StaffMay 14, 2021

1min6930

A pair of Republican Congressman introduce the latest cannabis legalization bill, but it’s missing social justice clauses. So will it make the floor of either house? Called the Common Sense Cannabis Reform for Veterans, Small Businesses, and Medical Professionals Act, it is being co sponsored by two Reps. David Joyce (R-OH), and Don Young (R-AK). Vote Pro Pot Cast Phil Adams has more in the DC report. The biggest deal in cannabis business history as Trulieve acquires Harvest. Green Market Report’s Debra Borchardt has the details. MJBiz predicts a weed market of 92 Billion dollars in 2021. Another celebrity weed strain makes it to the East coast. Bertha goes down the road feeling bad, on one more Saturday NIght to listen to Uncle Johns Band, yes Jerry Garcia’s hand picked strain finds dispensaries coast to coast. Rick Thompson in Michigan, Tara Misu in New Jersey, NORML’s Margo Vesely from Illinois, Jessilyn Dolan has Ben Cohen’s social equity initiative in her Vermont report. Jimmy Young from Pro Cannabis Media anchors Weed Talk News.


Video StaffMay 14, 2021

2min4380

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

 COMPASS Pathways plc (Nasdaq: CMPS) reported its financial results for the first quarter of 2021 as the company continues to plug away at research. The net loss was $12.7 million, but Compass was granted 2 patents during the quarter and continues to have a generous cash cushion of $179 million. 

Havn Life Sciences Inc. (OTC PINK: HAVLF) reported this week its research team has developed a rapid testing method that enables precise and accurate measurement of psilocybin content in under 5 minutes. The fast test allows the Company to quickly experiment with and validate new extraction processes, which is essential for internal process development and maintaining quality control and accurate dosing of psychedelic compounds.

Numinus Wellness Inc. (TSXV: NUMI) and Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) developers of a functional mushroom brand have submitted a pre-clinical trial application to Health Canada for review and comment. The application includes the investigational product’s chemical constituents, genotype, and formulation as well as procedures and processes to produce a consistent dosage from Psilocybe mushrooms.

And finally, Wesana Health Holdings Inc. (CSE: WESA) began trading on the Canadian Securities Exchange this week under the ticker symbol “WESA.”

Psychedellux is brought to you by the Green Market Report.


Video StaffMay 14, 2021

5min6210

It was a big week for Trulieve Cannabis Corp.  (OTC: TCNNF). The florida-based company said it was buying  Harvest Health & Recreation Inc.  (OTCQX: HRVSF) in a deal valued at approximately $2.1 billion. The combined businesses will have operations in 11 states with 126 dispensaries serving both the medical and adult-use recreational cannabis markets. Right after that Harvest Health reported its first-quarter revenue rose 101% to $88.8 million. The company said in its earnings that it has a cash position of $106 million, but the company’s total liabilities are $554 million.

Then on Thursday Trulieve said its revenues increased 102% to $193.8 million and beat the Yahoo Finance average analyst estimate for revenues of $189 million.

GrowGeneration Corp. (NASDAQ: GRWG) reported its first-quarter 2021 revenues rose 173% to $90 million. GrowGen said same-store sales increased 51% year over year. Net income was $6.1 million, or $0.10 per share which beat the estimate for $0.07.

Green Thumb Industries Inc.  (OTCQX: GTBIF) continues to show its strength delivering total revenue of $194.4 million in the first quarter up 89% from last year beating analyst estimates. The company also delivered a net income of $10.4 million versus last year’s net loss. 

Charlotte’s Web Holdings, Inc. (OTCQX: CWBHF) reported revenue increased 9.1% to $23.4 million, but net losses grew to $13 million.

In the not so great column:

MedMen Enterprises Inc. (OTCQX: MMNFF) reported its revenue fell to $32 million, from last year’s $44.1 million. This also missed the average analyst estimates of $37.3 million.

The Green Organic Dutchman (TSX: TGOD) (US: TGODF) reported its unaudited revenue increased 194% year over year to $8.98 million but decreased 18% sequentially abd blamed covid store closings for the drop. 

In stock news:

ETF Managers Group has launched its latest cannabis ETF (exchange-traded fund) that will once again focus on the cannabis U.S. stocks. The ETFMG U.S. Alternative Harvest ETF (NYSE Arca: MJUS) will begin trading on the New York Stock Exchange.

Flora Growth Corp. (NASDAQ: FLGC) priced its IPO raising $16 million and will trade on the NASDAQ with the symbol “FLGC.” 

True Leaf Brands  (OTC Pink: TRLFF) has launched both a traditional private placement and an equity crowdfunding offering.


Video StaffMay 7, 2021

3min5000

This is Psychedellux – the leading recap of the week’s top news in the psychedelics industry.

The Multidisciplinary Association of Psychedelic Studies (MAPS) released data from its Phase III trial with the FDA for the use of MDMA (ecstasy) to treat PTSD. MDMA showed efficacy for treating PTSD in six MAPS Phase II trials, providing a cost-saving and clinically beneficial treatment for those with severe or extreme chronic PTSD resulting from any cause. The Phase III trial data revealed that 67% of the group who received MDMA no longer qualified for a PTSD diagnosis after three treatment sessions

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) reported its net loss was $26.9 million for the year ending December 31, 2020.  Subsequent to the year-end 2020, the company raised approximately $30 million.

Psychedelic clinic companies have been expanding quickly as more patients are seeking alternatives to traditional prescription drug treatments. Field Trip Health Ltd. (OTCQX: FTRPF)  opened its fifth location in the United States in the city of Houston, TX. Novamind Inc. (OTC PINK:NVMDF) reported it would open four new Cedar Psychiatry clinics, doubling its network to eight total locations. 

Revive Therapeutics Ltd.(OTC: RVVTF) has entered into a sponsored research agreement with the University of California, San Francisco to explore the utility of Bucillamine as a treatment for severe COVID-19. 

Champignon Brands Inc. (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) has changed its name from “Champignon Brands Inc.” to “Braxia Scientific Corp.” and its ticker symbol will change from “SHRM” to “BRAX” on the Canadian Securities Exchange (the “CSE”).

Field Trip Health Ltd. (OTCQX: FTRPF)  announced that its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States

 


Video StaffMay 7, 2021

5min10960

This year’s New York City annual cannabis parade brought out a who’s who of New York politicians and activists. Senator Chuck Schumer told the Green Market Report that he and Senator Booker will be introducing legalization legislation in a few weeks.

Sundial Growers Inc. (NASDAQ: SNDL)  said it was buying Inner Spirit Holdings  (CSE: ISH) (OTCQB: INSHF) in a deal valued at approximately $131 million. Inner Spirit is better known as the retailer and franchisor of Spiritleaf recreational cannabis stores across Canada. The Spiritleaf network includes 86 locations and the deal is expected to close in the third quarter of 2021.

Ascend Wellness Holdings, Inc. closed its previously announced IPO raising $80 million. The shares began trading today on the Canadian Securities Exchange, under the ticker symbol “AAWH.U”. The company expects its shares to become quoted on the OTC markets in the near future.

Tilray, Inc. and Aphria Inc. have officially completed the previously announced merger. The combined company, which will be known as Tilray and the combined company had a market cap of approximately $8.2 billion. 

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) closed on its acquisition of GW Pharmaceuticals and announced financial results for the first quarter of 2021 and affirmed financial guidance for 2021. Total revenues increased 14% in the first quarter of 2021 to $607 million compared to the same period in 2020 which was $534 million.

The Scotts Miracle-Gro Company (NYSE: SMG)  announced company-wide sales increased 32% in its fiscal second quarter to $1.83 billion versus $1.38 billion a year earlier. This beat the analyst estimates on Yahoo Finance. Sales for the hydroponic segment known as Hawthorne increased 66% to $363.8 million. Scotts said that due to its fiscal calendar, the second quarter of 2021 ended six days later than the second quarter of fiscal 2020. The shift had a sales impact of approximately $122.5 million within the lawn and garden business.

Cansortium Inc. (OTCQB: CNTMF) reported revenue increased 54% to $14.7 million in the fourth quarter versus $9.5 million for the same time period in 2019. Cansortium also delivered a net loss of $8.4 million in the quarter, which was an improvement over last year’s net loss of $32.8 million for the same time period. For the full year of 2020, Cansortium reported its revenue increased 84% to $52.4 million. 

Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) delivered another quarter of solid results. The real estate investment trust (REIT) reported that its total revenues increased 103% to $42.9 million for the first quarter ending March 31, 2021. This beat the yahoo Finance average analyst estimate for revenues of $42.88 for the quarter.

Cannabis data firm Headset has raised $1.825M in a round led by Silverleaf Venture Partners, a private equity investment manager.

 


Video StaffMay 3, 2021

1min8820

This year’s New York City annual cannabis parade brought out a who’s who of New York politicians and activists. Senator Chuck Schumer told the Green Market Report that he and Senator Booker will be introducing legalization legislation in a few weeks. In addition to Schumer, NY Attorney General Tish James spoke about social equity, Steve DeAngelo reminisced about his first NYC cannabis parade when he was 17. Vlad Bautista from Happy Munkey spoke for legacy operators, Tonya Osbourne represented cannabis women, Grizzzly BoCourt spoke on behalf of social equity applicants and Blinc CEO Arnaud Dumas de Rauly voiced his excitement over the soon to be legal market in New York. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date.


Video StaffMay 3, 2021

1min9780

This year’s 2021 New York City was one of happiness, dancing and an overall sense of freedom. People openly consumed cannabis with no fear of being arrested. This year’s parade drew people from all over the country. Activist Steve D’Angelo came in from California to celebrate the decades since he attended his first parade. Politicians like Senator Chuck Schumer and New York State Attorney General Laticia James spoke at a rally following the parade which brought a who’s who of New York cannabis activists.


Video StaffApril 30, 2021
Billboard-WTNews.jpg?fit=960%2C558&ssl=1

1min9010

A few ounces of weed might be legal in New Jersey but not hundreds of pounds, as Tara Misu explains in her New Jersey report. Vermont’s Green Nurse Jessilyn Dolan has the story of her state banning Delta 8 THC and why that is a good thing. No movement on the Federal legalization front as the SAFE Banking bill can’t even get onto the Senate floor. 4-20 sets a buying record for cannabis sales in the USA. Plus the Green Market Report with Debra Borchardt, and state wrap-ups from Washington DC, Illinois, Michigan, and north of the border in Canada with MJBiz Canada reporter Solomon Israel. Jimmy Young from Pro Cannabis Media anchors Weed Talk News, the most comprehensive cannabis news roundup on the internet.


Video StaffApril 30, 2021

3min7530

This is Psychedellux – the week’s top psychedelic industry headlines.

MindMed (NASDAQ: MNMD) shareholders have been taken on quite the trip over the last few days as the company uplisted from the Over The Counter Market to the big time at the NASDAQ. The stock jumped to over $5 a share in its last days at the OTC Markets, only to move to midtown Manhattan and see the shares plunge 29% in its debut. The stock closed at $4.02 on Tuesday. 

Numinus Wellness Inc. (TSXV: NUMI) announced that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial. The Phase 1 trial will enroll 14 human volunteers and assess the safety and psychoactive properties of a Psilocybe mushroom product extracted and formulated at the Numinus Bioscience lab. The company also said it was listing its warrants on the TSX Venture Exchange

PharmaTher Holdings Ltd. (OTCQB: PHRRF) has filed a provisional patent application with the U.S. Patent and Trademark Office outlining the novel use of ketamine as a potential treatment for Type 2 diabetes and obesity, based on the evaluation of the company’s drug repurposing artificial intelligence platform. PharmaTher recently used this platform to discover novel uses of psilocybin in the potential treatment of certain cancers, which led to the sale of the company’s psilocybin intellectual property portfolio to Revive Therapeutics Ltd. (OTC: RVVTF) for a consideration of up to C$10 million.

COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the launch of a proposed public offering of 4,000,000 American Depositary Shares (“ADSs”), each representing one ordinary share.


Video StaffApril 30, 2021

4min11290

For a company that mostly sells papers, Turning Point Brands (NYSE: TPB) is turning into a behemoth in the cannabis industry. During its recent earnings results, the company announced that it was increasing its guidance for 2021 net sales to a range of $422 million to $440 million. Results for the first quarter have net sales increasing 18.7% to $107.6 million and net income increased $7.3 million to $11.8 million.

Hydroponic company Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) has had a busy week. First things first, Hydrofarm said it expects to deliver net sales in the range of $109 million to $111 million for the quarter. The company also acquired Heavy 16 in a deal valued at $78 million. And supersized a huge offering that intends to raise $269 million.

Fire & Flower Holdings Corp. (OTCQX: FFLWF) announced its financial and operational results for the fiscal year and quarter ending January 30, 2021. In the fourth fiscal quarter, Fire & Flower reported total revenue of $43.2 million versus revenue of $16.8 million for the fourth quarter of 2019. It was an increase in revenue of 30.5% and an increase of 42.8% in total gross profit dollars compared to the third quarter of 2020.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported total revenues for the fourth quarter were $18.8 million versus $3.1 million for the same time period in 2019. For the full year of 2020, revenue jumped 508% to $50.7 million versus 2019’s $8.3 million. 

Harborside Inc.  (OTCQX: HBORF)reported in the fourth quarter, it had gross revenues of approximately $13.1 million, which was a 12% increase versus 2019’s fourth-quarter revenues of $11.7 million. For the full year, 2020 gross revenues increased 29.4% to $63.4 million.

Michigan-based Gage Growth Corp.  (CSE: GAGE) reported that its revenue increased 615% to $10.5 million in the fourth quarter over last year. Gage also reported that its revenue increased 1,972% for the full year to $39.9 million versus $1.9 million in fiscal year 2019. The company also trimmed its net losses to $29.8 million from 2019’s net loss of $75 million.

The Valens Company Inc.  (OTCQX: VLNCF) is buying Green Roads and its majority-owned manufacturing subsidiary in a deal potentially valued at $60 million.

 

And finally,  Pennsylvania’s medical cannabis sales have escalated, and between April 2020 and March 2021, Pennsylvania’s medical markets brought in $909.4 million.


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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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