Video Staff, Author at Green Market Report - Page 2 of 11

Video StaffVideo StaffJanuary 25, 2019

3min7560

It was a shortened trading week with Martin Luther King’s day celebrated on Monday.

Still, we’ve got a couple of acquisitions to report this week.

Tilray (TLRY) acquired Natura Naturals in a deal valued at $70 million. Natura gets $35 million at the closing, but if they hit certain milestones it could go higher. Last July Emblem said they were buying Natura for $75 million but that deal never went through.

High Times is buying the European cannabis event called Spannibis that is held in Spain. The company is paying $3 million in cash and $4 million in company stock.

Cronos Group (CRON) closed on a $65 million credit facility.

KushCo Holdings (KSHB) closed on a $34 million offering.

Doyen Elements International, Inc., announced its rebranding and renaming itself to Covalent Collective, Inc. In addition, the Company announced Bill Gregorak as Chief Executive Officer, effective immediately.

The news that took this week was an announcement by Acreage Holdings (ACRG.U) that it had tried to place an ad advocating for patients of medical marijuana to the Super Bowl. It was rejected by CBS who said it wouldn’t run cannabis ads. The ad featured three patients who told their stories of being helped by medical marijuana, not necessarily Acreages. It wasn’t promoting Acreage or suggesting you buy their product. Even though CBS won’t allow the ad, the stadium in Atlanta Georgia will be running a promotion for a CBD coffee product. So, that could be interesting if the cameras accidentally broadcast the stadium ad. That could get tricky

 


Video StaffVideo StaffJanuary 18, 2019

3min5890

Green Market Report asks that you sign up as a sponsor on our Patreon page and let’s keep the news alive and unbiased.

Also, Green Market Report released its fourth quarter review on the Cannabis Company Index. Head to the website and read what is one of GMR’s most popular reports.

Ohio began sales of medical marijuana this week. Sales were reported as brisk and lines were long, but the patients said they were happy and supplies held out. Acreage Holdings (CSE: ACRG.U) and Greenleaf Apothecaries both opened dispensaries

New York Governor Cuomo said he hoped to have adult cannabis legalized within 100 days. That doesn’t mean products will be for sale in a few months, it just means legislation could happen. Expect several more months before any retail stores open.

This week, Tilray (TLRY)  signed a $100 million deal with Authentic Brands to provide CBD for any of the company’s product lines. Authentic licenses companies like Nine West and Juicy Couture. This comes just one week after DSW said it was working with Green Growth Brands  to sell its CBD products

MedMen released its unaudited revenue figures for its second fiscal quarter. systemwide revenue increased 40% sequentially to $29.9 million. The company said that if it included pending acquisitions that revenue number would be $49.5 million. Official results will be posted in February.

TILT closed the Jupiter and Blackbird transactions this week. Through Jupiter, TILT has a “bird in the hand” vape hardware business expected to drive roughly $200m in revenues in 2019 as vape demand continues to accelerate. Blackbird brings wholesale distribution capabilities in CA and NV that can be propagated into additional markets as well as leveraged longer term with the company’s Baker CRM to expand TILT’s wholesale footprint.”

Golden Leaf terminated its plan to buy Sweet 16 license.

HEXO Corp. said that its common shares have been approved for listing on the NYSE and will begin trading at the open of markets on January 23. HEXO’s shares will trade on the NYSE American under the ticker symbol “HEXO”, the same symbol the Company’s common shares currently trade under, and will continue to trade under, on the Toronto Stock Exchange.


Video StaffVideo StaffJanuary 11, 2019
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3min8970

Cannabis packaging company KushCo Holdings, Inc. (OTCQB: KSHB) reported that revenue rose 186% in the fiscal first quarter of 2019 to $25.3 million. The company said it had to weather several challenges. Cash dropped to $3 million due to rapid demand for product and timing of inventory purchases leading up to Chinese New Year.

On Tuesday,  Brent Cox and Omar Mangalji who hold a significant stake in MedMen Enterprises (MMEN.CN) management company MMMG, LLC filed a $20 million lawsuit against Adam Bierman; Andrew Modlin and various MedMen Enterprises entities for alleged breaches of fiduciary duty. Cox is a former board member. On Wednesday, a Los Angeles Superior Court denied a request from the plaintiffs for a temporary restraining order and a preliminary injunction.

The general gist of the lawsuit is that the two gentlemen are upset that the restricted shares will be locked up for an additional year. MedMen said that decision was made by an independent committee. The lawsuit also said that MedMen would not receive a permanent adult use sales license for its flagship West Hollywood store.

Green Thumb Industries Inc. agreed to acquire Advanced Grow Labs LLC (AGL) and enter the Connecticut market. AGL is one of only four companies in Connecticut licensed to grow and process cannabis.

Acreage Holdings, Inc. (CSE: ACRG.U) closed the acquisition of Florida-based Nature’s Way Nursery of Miami, Inc. (“Nature’s Way”).

The DSW shoe chain (NYSE: DSW) has agreed to sell Green Growth Brands (GGB.CN) CBD products from the line Seventh Sense. Several Green Growth brands had previously worked at DSW so this combination was somewhat expected.

Aurora Cannabis Inc (NYSE: ACB) said it expects to report revenue between $50 million and $55 million for the fiscal second quarter ended Dec. 31. This figure is higher than the $11.7 million posted for the same period last year.

Cannabis data company Headset secured $12.1 million in funding in a Series A round of financing.


Video StaffVideo StaffJanuary 4, 2019

3min5620

Happy new year’s everyone and welcome to 2019. We hope you had a nice break from work over the holidays and that your batteries are recharged to tackle this new year.

If you like the news that Green Market Report provides. Show your support by signing on to our Patreon page. You get news, free legislation tracking, and a weekly newsletter. Just a few pennies a day helps keep the news rolling. The entry tier is only $10 a month!

The acquisition race is already fired up this week with TILT Holdings’ (TILT.CN) plan to acquire Jupiter Research in a deal valued at $210 million. The acquisition is expected to close on January 31. TILT’s goal was to expand its technology ecosystem and B2B reach across the supply chain.

“Our latest acquisition of Jupiter Research is paramount to our goal of consolidating and centralizing services for all industry verticals: cultivation, production, and retail,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Vaporization is increasingly becoming the preferred method for cannabis consumption. With Jupiter’s proprietary inhalation technology, our offerings in this category are going to be unparalleled.” TILT only just began trading last month and also announced that it was acquiring BlackBird in December.

Cannex Capital Holdings reported that its revenue rose 223% to $3 million for the second quarter ending in October. The company also reported net income of almost $700 thousand for the quarter.

The Horizons ETF added three new companies to its portfolio. The new names included Khiron Life Sciences, Auxly, and MediPharm. The ETF has lost 46% of its value since hitting a year’s high in October.

Biome Grow Inc. began trading on the OTC Markets Group this week with the symbol BIOIF. It will also continue trading on the CSE using the symbol BIO.

Xanthic Biopharma has officially changed its name to Green Growth Brands.

Sunniva completed its previously announced acquisition of LYTR Logistics.


Video StaffVideo StaffDecember 21, 2018

4min17134

The President was set to sign the 2018 Farm Bill on Thursday with the signing time repeatedly pushed back and after a long speech about the border wall, he finally signed it. And so thus ends hemp prohibition and it is legal.  

New York State Governor Andrew Cuomo presented his 2019 agenda on Monday morning to the New York Bar Association and it included his plan to legalize adult use cannabis. “Let’s legalize the adult use of recreational marijuana once and for all,” he said. There have been estimates that legalizing cannabis could bring in an additional $1.3 billion in annual tax revenues with $336 million for New York City alone.

Aleafia Health Inc. (TSXV: ALEF) is acquiring Emblem Corp. (TSXV: EMC, OTCQX: EMMBF)  are in an all-stock deal valued at approximately $173.2 Million. The combination will create Canada’s largest medical cannabis clinic network with 40 clinics and education centers.

Tilray Canada Ltd. a subsidiary of Tilray Inc. (NASDAQ: TLRY) entered into an agreement with Sandoz AG, which is a part of the Novartis group, to increase the availability of high-quality medical cannabis products across the world. Tilray has also signed a binding letter of intent (LOI) to purchase hemp-derived CBD isolate from LiveWell Canada Inc. (CSE: LVWL), which will be sourced from the United States and Canada.  Hemp CBD is estimated to be a $22 billion market in the U.S. and finally, big brewer AB InBev, and Tilray, announced a partnership to research non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD).

The war between Terra Tech Corp. (OTC: TRTC) and its investor Heidi Loeb Hegerich is heating up. The first attack began with a lawsuit filed last week by the Reno, Nevada woman claiming fraud. Loeb Hegerich entered into a partnership with Terra Tech and became a co-owner of a Blum dispensary in midtown Reno. Loeb made some 50 different claims in the case and ultimately is unhappy that she hasn’t received any money back from her investment. Terra Tech said it will defend itself vigorously against the meritless claims filed in the State of Nevada. Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF)  said that it has decided not to pursue a potential transaction with Terra Tech Corp.

Cannabis loyalty software company springbig completed its latest Series A fundraise for $5 million bringing its total amount raised to $11.3 million.


Video StaffVideo StaffDecember 14, 2018
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5min6660

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The biggest news this week, was well, very big indeed. The Senate passed the 2018 Farm Bill that included language legalizing hemp. The next step is for the House to pass the bill and then on to the President’s desk to be signed.

The bill is very important for the industry because it amends the Controlled Substances Act to reschedule CBD from hemp. It also moved the regulatory authority from the Department of Justice to the Dept of Agriculture. When it comes to farmers, they would now be able to grow the crop for purposes other than “research” and would be able to get crop insurance.

In earnings this week:

Multistate operator Cresco Labs, Inc. (CSE: CL) reported third-quarter revenue of $12.2 million, representing a quarter-over-quarter increase of 51% and a year-over-year increase of 335%. Cresco’s net income nearly doubled from $2.0 million in the previous quarter to $3.9 million. At the end of the quarter, the company had approximately $149.5 million in assets, which included $93.9 million in cash and cash equivalents.

HEXO Corp. (TSX: HEXO) (OTC: HYYDF) reported its financial results for the first quarter of the 2019 fiscal year with gross revenue of  C$6.7 million versus last year’s C$1.1 million for the same time period. The revenue figure includes C$5.2 million from legal adult-use cannabis sales during the first two weeks of legalization. Still, the company delivered a net loss of C$14.7 million versus last year’s net loss of C$381,000.

 

Dixie Brands Inc. (CSE: DIXI.U)  reported Revenue of $2,435,000 in the third quarter of 2018, an increase of 110% over last year. However, Dixie delivered a net loss of $2,404,000 for the quarter versus $630,000 for the third quarter of 2017.

Harvest Health & Recreation, Inc. (CSE: HARV)  has formed a joint venture with Aina We Would (AWW), LLC for a real estate investment vehicle that plans to provide funding to purchase cannabis-related real estate assets. In addition to a Harvest subsidiary, AWW is made up of two family offices, Aina Advisors LLC and Stadlen Family Holdings, LLC.

Aphria Inc.  (TSX: APHA) (NYSE: APHA) continues to forge ahead with its international expansion in Paraguay despite coming under fire from a short seller recently. Last week, Hindenburg Investment Research and QCM released their short report on the company criticizing it for its international dealings.

GTEC Holdings Ltd. (TSXV: GTEC), a vertically integrated cannabis company, announced today that it had been approved for up-listing of trading onto the OTCQB Venture Market. Effective immediately, the company will start trading on the OTCQB under the symbol GGTTF.


Video StaffVideo StaffDecember 13, 2018

1min3170

Humboldt County in California has seen its fair share of boom and bust cycles. From gold mining to logging, this county continues to reinvent itself. Now it’s cannabis that is fueling the county and specifically the town of Eureka’s latest boom. Rob Holmlund, the Director of Community Development in Eureka California tells the Green Market Report how the area has been transformed by the cannabis industry that has brought meaningful jobs to the residents.


Video StaffVideo StaffDecember 7, 2018

2min6770

The trading week was shortened as markets were closed on Wednesday to honor the funeral of the 41st president George HW Bush. Probably best since stocks took a beating on Tuesday.

On Monday, Cresco Labs became the latest multi-state operator to begin publicly trading on the Canadian Securities Exchange. Using the ticker CL, the stock opened at $8.50 and was lately trading at $C6.57.

Cronos Group stock skyrocketed after the company confirmed that it was speaking with tobacco giant Altria. While there is no additional news of a deal, it is anticipated to be a big one. Tobacco companies have shied away from cannabis until now presumably waiting until it was federally legal. It seems these companies have decided that to snooze is to lose.

Conversely, Aphria, which had been rumored in October to be speaking with Altria came under short seller attack. The stock plunged after Gabriel Grego called the company worthless. Eight Capital also cut its price target from C$22 to C$7 and the securities lawyers are lining up for business.

TILT Holdings began trading this week on the CSE using the symbol TILT. It also acquired cannabis distributor Blackbird for $50 million. Blackbird works with 250 wholesale and retail cannabis companies in Nevada and California. The company plans to expand into Massachusetts and Arizona and further in California.

High Times came to an agreement with THC Holdings to convert $28.6 million worth of debt to Class A common stock. The debt has been hanging over High Times and this removes the pressure of making those payments.

Origin House acquired craft cannabis company Cub CityCity for roughly $7 million.

Money continues to flow into the sector.

Ascend Wellness raised $40 million and believes this is one of the largest raises in Massachusetts. The company will use the money for expansion into other states.

OG DNA genetics raised $35 million.



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