Video Staff, Author at Green Market Report - Page 2 of 36

Video StaffDecember 17, 2021

3min9670

It was a rough week for some cannabis companies. News that Visa (NYSE: V) could begin cracking down on the way many cannabis customers use their debit cards to make a purchase and the change could have a devastating effect on the cannabis industry. The company sent out a memo warning that cashless ATM transactions were prohibited. 

 

Cannabis leaders had a tough week as well. 

 

Charlotte’s Web made sweeping changes in its C-suite. CEO Deanie Elsner was out of a job and a former Bacardi executive Jacques Tortoroli was named the new CEO. Jared Stanley, Charlotte’s Web Co-founder and Chief Cultivation Officer, will assume an expanded role as Chief Cultivation and Innovation Office and the CFO has seen his duties expanded. 

 

Turning Point Brands also named a new CEO Yavor Efremov replacing the Company’s current CEO, Larry Wexler. 

 

Hexo Corp. (TSX: HEXO; NASDAQ: HEXO)  reported its revenue rising 29% sequentially to $50.2 million. Hexo also reported a total net loss of $116 million and warned that it was a going concern saying that “existing funds on hand, when combined with operational cash flow, would not be sufficient to fund the potential Senior Secured Convertible Note redemption payments.

 

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWD) announced its revenue rising 37% to $45.4 million. One cautionary note was that Fire & Flower reported that same-store sales decreased 27% for fifty-four (54) stores in operation during the quarter due to increased competition as the surge in newly licensed retail cannabis stores continues across Canada. 

 

Also this week, companies seemed to wrap up some debt issues. Glass House Brands was approved for a $100 million debt deal and Curaleaf  received commitments for a private placement of 8.0% Senior Secured Notes due 2026 for aggregate gross proceeds of $425 million.  It’s the largest single debt financing of any publicly-traded US cannabis company in history and at a rate that is also one of the lowest seen within the industry. 

 

And that’s it for this week. This will be the last marijuana moment video for 2021. Have a happy holiday everyone and we’ll see you in 2022. 


Video StaffDecember 10, 2021

5min10100

In Congress, a new version the National Defense Authorization Act (NDAA) did not include cannabis banking reform. Senator Schumer has insisted on focusing full marijuana reform instead of tackling safe banking. Rep. Perlmutter filed an amendment in committee to attach the marijuana language to the legislation— but he ultimately didn’t insist on a vote.

 

This week included National Brownie Day and what better way to celebrate than creating the world’s largest edible – an infused brownie. MariMed, Inc. (OTCQX: MRMD) unveiled the world’s largest cannabis-infused brownie in celebration of the launch of its new brand Bubby’s Baked and National Brownie Day and the news went crazy – even landing on the Jimmy Kimmel show. 

 

There were a few acquisitions this week to discuss:

 

Tilray, Inc. (NASDAQ: TLRY) is buying Breckenridge Distillery, a leading distilled spirits platform located in Breckenridge, Colorado that is widely known for its award-winning bourbon whiskey collection and innovative craft spirits portfolio. Tilray didn’t disclose the price it paid for the company but it did say that the acquisition will be immediately accretive to EBITDA. 

 

Agrify Corporation (Nasdaq: AGFY) is buying extraction company PurePressure for $9 million. PurePressure engages in solventless extraction and advanced ice water hash processing in the cannabis and hemp industry. 

 

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF)  is buying Pineapple Express Delivery Inc., Canada’s largest delivery and logistics company serving the cannabis sector in a deal valued at $5.3 million

 

In money moves, Schwazze (OTCQX:SHWZ) has entered into a securities purchase agreement for $95 million of principal amount and $93 million of funding amount of convertible notes. High Tide Inc.  (TSXV: HITI) (NASDAQ: HITI) announced that it was going to issue up to C$40 million (or the equivalent in U.S. dollars) of common shares at the company’s discretion and subject to regulatory requirements.

 

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) reported total revenue of $6.5 million for the fourth fiscal quarter. The company also delivered a net income of $1.1 million, an increase of $5.0 million from a net loss of $3.9 million in the fourth quarter of 2020. 

 

And finally Chicago Atlantic Real Estate Finance, Inc., priced its common stock at a public offering price of $16.00 per share. Shares began trading on The NASDAQ Global Market using the symbol “REFI.” 


Video StaffDecember 3, 2021

6min12730

Green Wednesday 2021 was a big one for the cannabis industry, while Black Friday fizzled in comparison. Green Wednesday saw cannabis sales increase across the U.S. Black Friday did not have the sales growth seen in previous years, though some data (Flowhub) showed larger order values and bigger discounts than Green Wednesday. 

 Harborside Inc.  (CSE: HBOR), (OTCQX: HBORF) announced it was buying California retailer UL Holdings Inc. also known as Urbn Leaf and  Loudpack. Loudpack is a manufacturer, cultivator and distributor of award-winning cannabis brands in California.  The newly combined company will be renamed StateHouse Holdings. The company said that it expects to trade the new company on the Canadian Securities Exchange under a new symbol (CSE: STHZ) and the deal is expected to close in the first half of 2022. In addition to announcing the big transaction, Harborside also delivered some sobering news to investors. The company said it was withdrawing its previous revenue guidance for 2021 and said it would revisit the forecast after the deal closes. A variety of reasons were given including a decline in wholesale pricing for bulk products in the California market and a decline in retail revenue which was primarily due to a decrease in retail store foot traffic.  

Red White & Bloom Brands Inc. (OTCQX: RWBYF) reported third quarter revenue increasing 93% to C$11.8 million and a net loss of C$5.5 million, RWB though is still facing a huge debt problem that it warned investors about last quarter. The company said this time that it is in advanced discussions with a number of funds to restructure the current debt of $115 million due in 2022 into a more advantageous long-term debt solution. 

Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) announced third-quarter revenue increased 9% to $15.6 million compared to $14.3 million. The company is revising its 2021 outlook for revenue and now expects it to range between $63-$66 million.

Gage Growth Corp.  (CSE: GAGE) (OTCQX: GAEGF) reported its third-quarter revenue rose to $27.2 million and the company had a net loss of $3.7 million. Gage said it is in active discussions with multiple retail operators in Michigan to potentially acquire over 10 retail locations in the coming months. 

Chicago Atlantic Real Estate Finance, Inc. is a newly formed commercial real estate finance company or REIT. The current portfolio is mostly first mortgage loans to state-licensed operators in the cannabis industry. The company expects the IPO to be priced between $16.00 and $18.00 per share and could raise as much as $129 million. It has applied to list the common stock on the Nasdaq Global Market under the symbol “REFI”.

The newest cannabis SPAC (special purpose acquisition corp.) Canna-Global Acquisition Corp. (NASDAQ: CNGLU) priced its initial public offering of $200 million and began trading on the Nasdaq Global Market on Tuesday using the ticker symbol “CNGLU”. The SPAC said it has not selected a business combination target 

Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) announced that it is leaving the cannabis industry and pivoting to a pharmaceutical development focus. Emerald said it is looking for buyers for its cannabis assets to further strengthen its already strong capital position.

 

 

 


Video StaffNovember 19, 2021

5min11230

We are still in the thick of earnings season and with so many companies delivering their numbers this week, we can only hit the notable ones here. 

Trulieve Cannabis Corp.  (CSE: TRUL) (OTCQX: TCNNF) announced that its third-quarter revenue increased 64% year-over-year to $224.1 million, beating estimates by $2 million.

TPCO Holding Corp. also known as The Parent Company (NEO: GRAM.U) (OTCQX: GRAMF) announced its financial numbers for the third quarter with an eye-popping charge of $570 million. The Parent Company’s revenue for the quarter was $39.7 million.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its results for the third quarter with revenues of $207 million, which increased over the second quarter’s revenue of $199 million.

TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF) reaffirmed guidance of $205-$210 Million For 2021 and reported its revenue increasing 37% to $53.4 million driven by growth in both cannabis and inhalation and accessory revenue. 

TerrAscend Corp.  (CSE: TER) (OTCQX: TRSSF) reported that its third quarter revenues dropped by 16% sequentially to $49.1 million from the second quarter’s $58.7 million. However, it was better than 2020’s third-quarter revenue of $38.1 million.

Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) announced its financial results with total revenue rising 13.1 sequentially to $54.0 million, and an increase of 116.7% over last year. 

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced its total revenues were $25.9 million, topping last year’s $12 million for the same time period for a gain of 70%. However, the company experienced a 4% sequential drop in sales from the second quarter. 

SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) announced the departure of several top executives and a new financing deal with Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF). The company’s CEO Chris Driessen resigned and the board chair Peter Miller stepped aside. Several other board members left as the company git $17 million in financing from Trulieve. 

It looks as if the MedMen Enterprises Inc. (OTC: MMNFF)  trial is coming to a close. According to Law360, the lawyers for the company’s former Chief Financial Officer James Parker attorney gave his closing arguments on Tuesday. Parker claims he is owed up to $24.89 million due to his employment contract, while MedMen believes the contract isn’t enforceable because Parker negotiated it himself. 

And finally this week, Republican lawmakers filed a bill today that would federally legalize and tax cannabis, the States Reform Act. Rep. Nancy Mae (R-SC) is sponsoring the bill which lowers the tax level from the Schumer legislation, which hasn’t been filed but also excludes any social equity component. 


Video StaffNovember 18, 2021

1min9670

Palo Santo’s Co-founder and Partner Tim Schlidt talks about the ways this psychedelic investment chooses its companies. While psychedelics are a hot emerging market, Schlidt compares it to more traditional bio-tech. The horizon for investments is much longer than it is in the cannabis industry. Palo Santo is a privately-owned biotech investing firm with a focus on psychedelic drug companies. It has raised over $35 million and invested in over 20 companies.


Video StaffNovember 17, 2021

1min9140

Wesana Health (OTC: WSNAF) is a life sciences company focused on the advancement of psychedelic medicines that will target traumatic brain injuries. The company’s CEO Daniel Carcillo is a former professional hockey player who can speak from the experience of having suffered numerous injuries. He believes the Wesana clinics will offer better treatment than the currently trendy “ketamine mills.” He says Wesana will focus on insurance reimbursement.


Video StaffNovember 16, 2021

1min7120

Green Market Report recently spoke with Enveric Biosciences (NASDAQ: ENVB) CEO Dr. Joseph Tucker at the Microdose Wonderland conference in Miami. Dr. Tucker sees room for both cannabinoids and psychedelics within the company. He also believes there are several areas for patients with needs that are currently unmet and Enveric looks to address those conditions.


Video StaffNovember 15, 2021

1min13740

Green Market Report recently attended the Wonderland Psychedelic Business Conference in Miami Florida, where we had the opportunity to talk to former professional boxer Mike Tyson. Tyson is currently the Chief Brand Officer at Tyson 2.0, his expanded cannabis company that was born out of Tyson Ranch. Tyson is now a big supporter of the use of psychedelic compounds to treat depression and other conditions. He has also invested in the psychedelic medicine company Wesana Health (OTC: WSNAF). Tyson says psychedelics has turned him into a different person and he’s a changed man – for the better.


Video StaffNovember 12, 2021

4min10790

It was Veterans Day this week and we salute all those who served. Markets remained open for the holiday. 

We are in the thick of earnings season with almost 20 different cannabis companies reporting third-quarter earnings this week. 

But before we cover some of the top names cannabis retail tech firm Springbig announced it was going public through the Tuatara SPAC. The post transaction valuation is listed as $500 million and it is being suggested the company will have $200 million in cash after the closing. It is worth noting that springbig is only on track to report $24 million in revenue in 2021. 

Curaleaf Holdings, Inc. (OTCQX: CURLF) is buying western state operator Tryke Companies known for its Reef Dispensaries in a deal valued at approximately $286 million. The acquisition is expected to close in the second half of 2021. Curaleaf said it will be immediately accretive. Tryke is expected to deliver nearly $110 million in full year 2021 revenue.

Turning in one of the best earnings reports this week was Green Thumb Industries Inc. (GTI)  (CSE: GTII) (OTCQX: GTBIF)  Third quarter revenue at Green Thumb increased 48.7% to $233.7 million. GTI’s same-store sales growth was 14% on a base of 48 stores, driven primarily by increased transactions. 

GrowGeneration Corp. (NASDAQ: GRWG) reported third-quarter 2021 revenues of $116.0 million and the company said it is on track for full year revenue of $435 to $440 million in 2021.”  GrowGen also delivered a net income of $4.0 million.

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) announced its revenue grew 2.6% sequentially to $215.5 million, and an increase of 40.6% year-over-year. Still, Cresco recorded a non-cash impairment charge of $291 million in the quarter as a result of the strategic shift in California operations. That resulted in a net loss for the quarter of $263 million. Cresco reaffirmed its guidance for revenue in the fourth quarter between $235 million and $245 million.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), announced its results for the first quarter of 2022 and total cannabis net revenue was $60.1 million, a 10% sequential increase from the prior quarter. Still, the revenue missed estimates and the company also reported a net loss of $12 million. 

As a reminder the weekly newsletter will go out Monday morning with a run down of what to look for during the week.


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.


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


READ MORE



Recent Tweets

@GreenMarketRpt – 3 days

Happy Friyay! Let’s hope we see more green than red today in the markets

@GreenMarketRpt – 3 days

It’s Thursday and that means it’s the last for the week.

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.