Video Staff, Author at Green Market Report

Video StaffVideo StaffNovember 8, 2019


Earnings season is underway and with the sector in a bear market, there seems to be a lot of pressure on companies to deliver solid results. GW Pharmaceuticals managed to do that but the stock still tumbled confusing shareholders. The company reported third-quarter net sales of $86 million in the cannabis drug Epidiolex. Revenue for the quarter was $91 million beating estimates. The losses were cut to $13 million versus last year’s $79 million, still, the stock sold off.

Innovative Industrial Properties beat analyst estimates with revenue that rose over 200% to $11 million and earnings per share of 55 cents. The dividend increased by 30% to 78 cents per share. The stock jumped over 9% on the news. 

CV Sciences (OTCQB:CVSI) reported revenue of $12.6M (-7.4% Y/Y) which missed estimates by $6.01M. Third-quarter sales were impacted by increased market competition in the natural product category, and the continued impacts on retail customers as a result of the uncertain regulatory environment for CBD. The third quarter Non-GAAP EPS of -$0.01 missed by $0.02 and the GAAP EPS of -$0.02 missed by $0.03. The decline in operating income is primarily related to reduced sales and additional investment in sales, marketing, and R&D activities.

For fiscal year 2019, the company expects revenue to be in the range of $55 million to $57 million.

Merida Priced its IPO to form a $120 million special purchase acquisition company. The units will commence trading November 5, 2019 on Nasdaq under the symbol “MCMJU” and are expected to commence trading on the Neo Exchange Inc. on or about November 8, subject to satisfying certain listing conditions, under the symbol “MMK.UN”.

TILT Holdings closed on a $35 million private placement which will be used to pay off a high-interest rate bridge loan. The company also agreed to board changes.

Terra Tech is merging with the over the counter drug company OneQor and may spin off its cannabis holdings.

Sunniva lost its CFO but said its CannaPharmRx deal is still on.

MediPharm Labs filed to list on the NASDAQ.

Video StaffVideo StaffNovember 4, 2019


Riley Cote is a Canadian former professional ice hockey left winger. Upon retiring from the Philadelphia Flyers Riley founded the Hemp Heals Foundation, a 501c3 non-profit organization that promotes cannabis/hemp as a viable renewable resource. Cote is a co-founder of Athletes For Care, a not-for-profit organization dedicated to creating a community where athletes can find support, opportunity, and purpose in life after a career in sports. Cote is currently launching a product line – BodyChek Wellness, a line of hemp-based personal care products whose mission is to optimize everyday performance and challenge individuals to rethink the healing process. The line reinforces Cote’s passion to help individuals discover safe nontoxic methods for pain management and self-healing.

This interview was conducted by Michael Miller of LA Weekly at the Green Market Summit in Los Angeles. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money.

Video StaffVideo StaffNovember 1, 2019


As more athletes learn the benefits of CBD, they are becoming great ambassadors of the plant and businesspeople. Rachael Rapinoe is a former soccer player who has started the CBD company Mendi with her World Cup-winning sister Megan Rapinoe. Green Market Report caught up with her in Los Angeles a the Green Market Summit where she was interviewed by LA Weekly’s Michael Miller. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money.


Video StaffVideo StaffNovember 1, 2019


This week the USDA released a draft for the regulation of hemp in the US. once the rules are released they will be temporary for the first year. This allows the states to participate in hemp cultivation and processing for the 2020 growing season. The rules also cover other important things like where hemp can be grown, THC testing standards, biomass transportation, licensing regulations, and more.

MedMen had a rough week. The company reported earnings and while it wanted the market to focus on the full-year revenue of $130 million, it was the $277 million in losses that caught everyone’s attention. In addition to that Gotham Green made changes to the company’s credit facilities and took majority control of the company’s board. Then Cowen & Co piled on as analyst Vivian Azer questioned the company’s cost-cutting goals.

Hexo stock took another beating. Last week the company announced layoffs, this week it reported earnings of $15.4 million versus last year’s $13 million but then delivered a net loss increase of over 400% coming in at $56 million for the quarter versus last year’s net loss of $10 million. The company also lowered guidance citing slower than expected store roll out across Canada and lower sell-through. 

So, let’s just keep going with the bad news, DionyMed is headed for bankruptcy or as the Canadians call it receivership. The company couldn’t pay the $24 million that its creditors were demanding and so the fat lady began to sing. 

The bear market forced Curaleaf to change its deal with Cura Partners. The share amount was cut by half and any additional shares will be payable upon the company meeting certain sales target goals. 

It was all terrible this week. In positive news, Liberty Health Sciences reported revenue of $10 million versus last year’s $2 million for the same time period and net income of $22 million over last year’s net loss of $5.6 million. 

The company 1906 raised $18 million in a round led by Navy Capital and General Cannabis bought a dispensary in Boulder.

Finally, presidential candidate and Vermont Senator Bernie Sanders released his plan for legalizing cannabis. He said he will remove cannabis from the controlled substances act and expunge all past convictions.

Video StaffVideo StaffOctober 25, 2019


After taping Marijuana Money, we learned that HEXO Corp. decided to layoff 200 employees after also postponing the release of its earnings results. The company said it is rightsizing its operations to adjust to a changing market and regulatory environment with a view towards profitability and long-term stability.

“This has been my hardest day at HEXO Corp,” said Sebastien St-Louis, CEO and co-founder of the Company. “While it is extremely difficult to say goodbye to trusted colleagues, I am confident that we have made sound decisions to ensure the long-term viability of HEXO Corp. The actions taken this week are about rightsizing the organization to the revenue we expect to achieve in 2020.”

We found out that the FDA and FTC joined forces to warn an online CBD merchant Rooted Apothecary about making unsubstantiated claims. The website claimed that its CBD infused products could be used to treat conditions like teething pain and earaches in babies. The letter also warned the company about describing the CBD products as dietary supplements. The letter was sent on October 10, but not made public until this week. The company has 15 days to correct the violations.

In Washington, a U.S. Senate Caucus on International Narcotics Control had a  hearing on the health impacts of marijuana, but it turned into a discussion on how cannabis’s current federal classification makes it harder for researchers to shed light on those effects.

Green Growth Brands reported revenue of $15.7 million for its fiscal fourth quarter, however, the company delivered a whopping net loss of  $31 million. The operating expenses for the quarter were $20 million. Most of the revenue came from one dispensary in Las Vegas called The Source and they brought in $5.5m. CBD revenue was $1.7 million and they are now running over 160 stores. That’s like what $10 grand a store? The company said it is shifting from building to executing in 2020.

Innovative Industrial Properties closed on a Florida property from Trulieve. Also, Trulieve was added to the OTCQX index trading under the symbol TCNNF.

Casa Verde led a $7m round of financing for cannabis lender Bespoke Financial.

Megan Rapinoe has signed on with the women-owned sports recovery CBD brand called Mendi. Rapinoe will lend her voice and vision to the company and it’s her first sponsorship since winning the world cup this year. Rapinoe became a breakout star during this year’s soccer championship.


Video StaffVideo StaffOctober 18, 2019


Cannabis and Washington crossed paths again this week and not in the usual legislative way. Last week Green Market Report broke the news that two associates of President Trump and Mayor Guiliani who were arrested for campaign finance violations had their hands in the cannabis industry in Nevada. David Correia was arrested this week at a New York Airport. GMR also reported on the ties of already arrested Andrey Kukushkin to the California cannabis market. Kukushkin and Correia are supposed to go back to court on Thursday this week.  

Aphria Inc. (TSX: APHA)(NYSE: APHA) stock jumped over 16% to trade at approximately $5.10 in early trading after the company reported that its revenue increased 849% to $126.1 million for the first quarter with net income of $16.4 million.

Valens GroWorks Corp. (TSXV: VGW) (OTC: VGWCF)  reported its financial results for the third quarter of fiscal 2019 with revenue increasing 87.1% to $16.5 million and delivered net income of $5.9 million.

Cannabis tech company Flowhub has raised an oversubscribed $23 million Series A financing round led by, Evolv Ventures — the venture fund backed by Kraft Heinz —  and Poseidon, with contributions from investors 9Yards Capital, former NBA commissioner David Stern and Iqram Magdon-Ismail, the co-founder and former CEO of Venmo, among others.

Orthogonal Thinker announced last month that it raised $2.5 million in capital. This funding completes approximately $4 million in seed capital raised to date, with more funding coming in. Orthogonal will use this financing to support intellectual property rights for plant-based psychoactive compounds. 

Private company Holistic Industries closed on $55 million in funding. The multi-state operator (MSO), which started on the East Coast and has rapidly expanded to the Midwest and West Coast, currently operates in California, Maryland, Massachusetts, Michigan, Pennsylvania, and Washington D.C.

Legion M is a fan-owned company. Its latest project is the Jay & Silent Bob Reboot movie from director Kevin Smith and it was screened this week as a Fathom Event. The dynamic duo head to Hollywood to stop a reboot of their movie. It contains lots of cannabis humor as well.  The movie was released along with the launch of Jay & Silent Bob’s Private Stash cannabis strains, which is available to buy in California with plans to expand to other states

Video StaffVideo StaffOctober 17, 2019


The Shryne Group has been quietly amassing licenses as it is becoming the fastest growing cannabis company in California. Headquartered in California, the company quickly opening expensive-looking dispensaries selling branded products along with over 40 other brands. Green Market Report visited the new location in San Francisco that was buzzing with customers in the middle of the day and the middle of the week.

Video StaffVideo StaffOctober 15, 2019


Legion M is a fan-owned company. Its latest project is the Jay & Silent Bob Reboot movie from director Kevin Smith. The dynamic duo head to Hollywood to stop a reboot of their movie. It contains lots of cannabis humor as well.  The movie was released along with the launch of Jay & Silent Bob’s Private Stash cannabis strains, which is available to buy in California with plans to expand to other states.

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Video StaffVideo StaffOctober 11, 2019


This is your marijuana money minute for the week ending October 11 from the New West Media in San Francisco. Wow, what a crazy week to see things blow up and more carnage in the cannabis industry. 

Where to start?

MedMen announced it decided to terminate the deal with PharmaCann that had been valued at $684 million. MedMen said it wants to focus more on its California market and go deeper into its strengths. As a consolation prize, Medmen gets PharmaCann’s Illinois licenses as part of the termination fee. Of course, MedMen has been touting its proforma numbers with Pharmacann and so now those have to be dialed back.

Speaking of dialing back, HEXO Corp said that its previously projected revenues were a bit lofty. The company said it had to reduce its revenue estimates to a range of $46-$48 million for the year, significantly lower than the $400 million it said it would do in 2020. That stock got spanked hard.

The Green Organic Dutchman said that it was considering new financing to complete the construction of two of its facilities. The only problem with that is that on previous investment decks, TGOD claimed that their projects were fully funded. The company also says it has $50 million in cash. How much money d they possibly need if they are only weeks away from completion. The stock lost 40% of its value in 2 days. 

More divorce news.

Aleafia said it was no longer going to buy cannabis from Aphria saying Aphria failed to meet its supply obligations. Aphria seemed to toss it off and said they would still achieve net positive income for this past quarter. To make things more awkward, Aphria owns a lot of Aleafia stock.

And then finally, two Russian nationals were arrested for campaign finance violations this week and it turns out that they had applied for marijuana licenses in Nevada. They didn’t get them because they were late by 2 months.

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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