William Sumner, Author at Green Market Report

William SumnerWilliam SumnerSeptember 20, 2018
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4min190

What is the state of the international cannabis industry, and what will it look like in the future? This was one of the many questions discussed at the Green Market Summit, which brought together some of the cannabis industry’s most prominent thought leaders and experts in the international cannabis trade. The result is a new report issued during the Summit by Green Market Report titled “The Economics of International Cannabis Companies.”

Following a thought-provoking discussion on the state of cannabis banking was a discussion panel on the international cannabis market, moderated by Sean McNulty, Principal and Co-Founder of XIB Financial Inc.

The panel featured Peter Miller of Slang Worldwide; Daniel Pearlstein, Vice President of Strategy at Canopy Rivers Corporation; Jason Wild, Chairman of the Board of Directors at TerrAscend; and Jonathan Rubin, the CEO of New Leaf Data Services.

The discussion opened by examining the idea of Canada as a beachhead for cannabis companies to launch their products and the need for consistency, quality products, and common-sense regulation. Taking a nuanced position, Rubin stated that in many ways Canada is a beachhead for the industry but that there are also ways in which it is not.

“When you think about a beachhead, yes, federal legalization of the medical market allowed that to happen,” said Rubin, “but there hasn’t been the opportunity yet for it [the cannabis industry] to develop into a commodity or wholesale market.”

Turning towards cannabis pricing, the conversation began to focus on the idea of cannabis as a commodity and how in the future the most expensive part of a cannabis product may not be the cannabis itself. Wild speculated that the industry would start to resemble pharmaceutical industry in at least one particular aspect.

“On the commoditization side, I look at this industry a little more like the generic drug industry, which is not a pure commodity,” said Wild. “In the cannabis industry, you’re going to have maybe two or three different players touch it in between the formulator and the end consumer.”

Looking forward to the global cannabis industry, questions arose as to what this international landscape would look like over the next several years. Admitting that it may not be the most exciting answer, Pearlstein said that it would depend on each individual country.

“The bottom line is that it all comes down to regulation,” said Pearlstein. “We might look at something in Italy that’s different than what’s in Jamaica. Maybe Italy just wants to grow outdoor hemp while Jamaica wants to do something that’s closer to recreational.”

Closing out the discussion, the panel took up the potential issue of cannabis prices bottoming out and how that would affect the industry in Canada. Miller stated that, like in Oregon, cannabis prices would most likely continue to decline as the market matures and those cannabis companies will have to find other ways to distinguish themselves besides pricing or potency.

“You don’t need a crystal ball necessarily to see what’s going to happen in Canada,” said Miller. “That’s why brands are increasingly becoming important.”

Stay tuned to find out more about happened at the Green Market Summit, as the Green Market Report gives you an in-depth look at the event throughout the week.


William SumnerWilliam SumnerSeptember 19, 2018
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4min660

Will the world of banking ever catch up with the marijuana industry? That was one of the many questions asked and answered at the Green Market Summit, which took place on September 14, 2018. The culmination of these experts has led to the publication of The Economics of Cannabis Banking by the Green Market Report.

Starting off the summit was a discussion panel on the state of banking in the marijuana industry, moderated by Tahira Rehmatullah, Chief Financial Officer of MTech Acquisition Corp. The panel featured a distinguished collection of marijuana and financial experts, including Matt Karnes, Founder and Managing Partner of GreenWave Advisors, LLC; Tyler Beuerlein, Executive Vice President of Business Development at Hypur Inc.; and Andre Herrera Vice President of Banking & Compliance at Hypur Inc.

The discussion began with Herrera laying out how marijuana businesses are defined under the FinCen document BSA Expectations Regarding Marijuana-Related Businesses, explaining that there are three different tiers. The first tier involves operators that directly touch the cannabis plant, such as cultivators. The second tier is understood as businesses that provide ancillary services to the industry. The third tier provides professional services to the industry, such as real estate agents or software providers.

Quickly the panel turned its focus towards the landscape that many marijuana-related businesses face, and why many financial institutions are hesitant to work with the industry.

“This is a highly regulated, cash-intensive industry,” explained Beuerlein. “Not only is the financial institution’s charter on the line, but also the officers of a financial institution have personal liability when banking these industries.”

Beuerlein went on to emphasize the importance of transparency when it comes to marijuana-related businesses banking with financial institutions and how his company, Hypur Inc., helps increase that transparency through its technology platform.

The conversation then started to turn towards the future of marijuana-related banking and the future of companies like Hypur that help facilitate relationships between financial institutions and the marijuana industry. Karnes was positive about the future, stating that marijuana would be treated like any other business once prohibition is over; although he did note that there would still be a need for companies like Hypur, albeit to a lesser extent.

When asked about the idea of creating a financial institution solely for the purpose of banking with the marijuana industry, however, Karnes was less than optimistic.

“I don’t think it’s practical,” Karnes said. “If a new bank were to open up, by the time the costs were incurred, and everything was up and running, prohibition will probably be over. So, what’s the point?”

Bookending the discussion, Herrera presented a positive outlook for the future of marijuana-related banking regardless of whether prohibition is quickly ending, noting that conditions are drastically different from where they were several years ago.

“I see attitudes changing. About three years ago I was at a bank association conference and anytime I would mention marijuana it would be like crickets. You couldn’t get anyone to talk about it,” said Herrera. “About a year later, they asked me to speak at their event.”

Stay tuned to find out more about happened at the Green Market Summit, as the Green Market Report gives you an in-depth look at the event throughout the week. For a general recap of the event, please click here.


William SumnerWilliam SumnerSeptember 18, 2018
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8min1940

The sun shone bright in New York City as Green Market Report hosted the inaugural Green Market Summit.

The event was such a success that TheStreet’s Jim Cramer said on Twittter, “One of the most important conferences I have participated in…learned so much.”

Taking place at the One World Trade Center in downtown Manhattan, the event brought together some of the cannabis industry’s leading voices in branding, banking, data, and investment.

Starting off the event with a catered breakfast, the event quickly moved towards a discussion panel on cannabis banking moderated by Tahira Rehmatullah, Chief Financial Officer of MTech Acquisition Corp, and featuring Matt Karnes, Founder and Managing Partner of GreenWave Advisors, LLC; Tyler Beuerlein, Executive Vice President of Business Development at Hypur Inc.; and Andre Herrera Vice President of Banking & Compliance at Hypur Inc.

Taking attendees through the complicated world of cannabis banking and compliance, the panel dispelled many of the myths surrounding the relationship between cannabis businesses and financial institutions.

“If you’re operating in this space prior to a transparent banking relationship, keep crystal clear books and get a third-party forensic audit for the money coming into your operation,” advised Beuerlein. “If you don’t, you’re never going to get that cash into an institution.”

Following the panel was a discussion on the economics of international cannabis companies. The discussion was moderated by Sean McNulty, Principal and Co-Founder of XIB Financial Inc., and featured Peter Miller of Slang Worldwide; Daniel Pearlstein, Vice President of Strategy at Canopy Rivers Corporation; Jason Wild, Chairman of the Board of Directors at TerrAscend; and Jonathan Rubin, the CEO of New Leaf Data Services.

Focusing on the need for fine-tuned regulation and the infrastructure needed to support the growing international cannabis trade, the panelists shared their insights and personal experiences in operating on a global scale.

“More markets are going to continue to open up,” Miller told attendees. “So you have to look five years from now and ask what does this look like?”

In the keynote event, legendary financial analyst and founder of TheStreet, Jim Cramer, went one on one with The Green Organic Dutchman (TGOD) CEO Brian Athaide in an exclusive interview where they discussed market trends, TGOD’s successful IPO, and how the company plans to position itself in the highly competitive cannabis industry.

After enjoying a catered lunch provided by Acreage Holdings, attendees learned about the surprising relationship between the adult-use and medical cannabis market. Led by Marijuana Policy Group co-founder Adam Orens, the discussion included Emily Paxhia, Founding Partner & Managing Director at Poseidon Asset Management; Jeannette Ward Horton, Vice President of Global Marketing and Communications at MJ Freeway; and Jessica Billingsley, CEO, and Co-Founder of MJ Freeway.

Utilizing data collected from four U.S. states, the panel demonstrated and discussed the complementary effect of adult-use cannabis market on medical cannabis sales and what that means for cannabis businesses going forward.

Mike Brown, Assignments Editor at TheStreet.com, then led an in-depth examination of cannabis consumer market trends with Bethany Gomez, Director of Research at Brightfield Group; Jeff Stein, Vice President at Consumer Research Around Cannabis; and David H. Dancer, MedMen Enterprises’ Chief Marketing Officer. Diving into how cannabis consumers relate to retail, the discussion examined how market trends can influence business decisions and investment in the cannabis industry.

“It is very interesting to watch the profile of the average [cannabis] consumer evolving,” remarked Gomez. “There’s a lot of discussion about new consumer groups that are coming out, and that’s really what is making the industry more polished.”

Dovetailing off of the previous panel, Vivien Azer, Managing Director of Cowen and Company, LLC, moderated a dialogue on cannabis e-commerce which featured Scott Boyes, CEO of MPX Bioceuticals; Peter Gigante, Head of Policy Research at Eaze; and Sean Dollinger CEO of Namaste Technologies.

Using consumer data provided by Eaze, the discussion panel examined the myriad of rules for cannabis e-commerce, how companies can make the most of it, and what it all means for the future of the cannabis industry.

Rounding out the event was a one on one discussion between Lewis Goldberg, Managing Partner at KCSA Strategic Communications, and Wall Street Veteran Danny Moses, who was most famously featured in the best-selling book and film “The Big Short.” From cannabis stocks to Elon Musk, Moses and Goldberg’s discussion covered a litany of topics; illuminated by both speaker’s knowledge and experience.

 

 

As the Green Market Summit came to a close, attendees and speakers were invited to an exclusive reception sponsored by MPX Bioceuticals at Trinity Place Restaurant and Bar in downtown Manhattan to celebrate the one-year anniversary Green Market Report.

Throughout the week, Green Market Report will take you deeper into the Green Market Summit. Stay tuned as we provide you with a more detailed breakdown of all the events and panel discussions from the summit.


William SumnerWilliam SumnerAugust 30, 2018
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4min2690

It’s time for your Daily Hit of cannabis financial news for August 30, 2018.

On the Site

Cannabis Company’s Report Earnings

While the rest of the market seems to be quieting down ahead of the Labor Day weekend, several cannabis companies are wrapping up earnings season. Here’s a roundup of earnings from MPX Bioceuticals, Kalytera, and Vivo.

In Other News

Hiku Brands

Hiku Brands Company Ltd. (HIKU) announced today the results of a special shareholders meeting. The shareholders voted to pass a resolution to approve a plan of arrangement in which Canopy Growth Corporation (CGC) would acquire all of the company’s common shares; effectively merging with Hiku Brands. The arrangement is still subject to the receipt of a final order of the Supreme Court of British Columbia, which is expected to be sought on September 4, 2018. Trading of common shares of Hiku will be halted on the Canadian Securities Exchange as of noon on August 31, 2018.

Charlotte’s Web Holdings

Charlotte’s Web Holdings announced today the successful closing of its previously announced initial public offering as well as a secondary offering of common shares. Priced at C$7.00 per common share, Charlotte’s Web sold 13,312,150 common shares, and selling shareholders sold a total of 3,132,850 common shares in a secondary offering and the over-allotment option, for a sum total of C$115.1 million. The company did not receive any of the proceeds from the secondary offering or the over-allotment option. Common shares of Charlotte’s Web Holdings commenced trading today on the Canadian Securities Exchange under the symbol “CWEB”.

Emerald Health Therapeutics

Emerald Health Therapeutics announced today the financial results for the three and six months ended June 30, 2018. Quarter-over-quarter revenue declined from $373,218 to $284,262. However, year-over-year revenue increased by 15%, rising from $245,708 during the same period in the previous year. Net loss for the company increased from $5.04 million in the previous quarter to $5.6 million. Despite the increased loss, Emerald Health CEO Chris Wagner was nonetheless pleased with the results. “I am proud of the success we’ve had scaling our business so far this year,” said Wagner. “Since the start of the second quarter, we acquired and began cultivating cannabis at our Quebec-based licensed producer Agro-Biotech, substantially increased our licensed cannabis production area at our Pure Sunfarms joint venture to roughly 420,000 square feet, and obtained from Health Canada Pure Sunfarms’ sales license.”


William SumnerWilliam SumnerAugust 29, 2018
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3min1580

Green Thumb Industries (GTBIF) announced today its financial results for the second quarter, which ended on June 30, 2018.

Revenue for the quarter rose by 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.

The company’s net income was roughly $400,000, up from a loss of $1.6 million in the first quarter. EBITDA was negative $4.7 million, up from $1.3 million during the same period last year. However, the adjusted EBITDA, which excluded non-cash and one-time expenses related to the company’s reverse takeover of Bayswater Uranium, was approximately $500,000.

General and administrative expenses increased to $11.3 million, driven primarily by the costs of hiring 150 new employees, which totaled to $4 million.

“The second quarter was a critical quarter for GTI,” said GTI Founder and Chairman Ben Kovler in a statement. “We became a publicly-traded company on June 13th. The team has been hard at work and that is reflected in the results for our first reporting period as a public company – generating solid revenue growth, raising capital, entering new markets and attracting top talent.”

On June 13, 2017, shortly before the quarter ended, GTI went public through a reverse takeover of Bayswater Uranium Corporation. Most recently, the company closed a bought deal financing worth C$80.3 million, although it occurred after the second quarter closed.

Gross profits for the quarter total to $6.8 million, up from $1.2 million during the same period in the previous year. Loss from operations, however, also increased year-over-year from $1.3 million to $5.2 million.

Currently, GTI has assets that total to $230.1 million, which includes cash and cash equivalents of $112.7 million and long-term liabilities of $10.4 million. The company’s debt amounts to $7.9 million, of which $1.4 million is due within the next 12 months.

During the last quarter, the company expanded its footprint to eight U.S. markets, including eight cultivation and manufacturing facilities and licenses for 59 retail stores.

 

 

 


William SumnerWilliam SumnerAugust 23, 2018
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6min1670

It’s time for your Daily Hit of cannabis financial news for August 23, 2018.

On The Site

Canopy Growth Corporation

Canopy Growth Corporation (CGC) is spinning off its venture capital investment arm called Canopy Rivers Corporation. The company has set September 12, 2018, as the date for a shareholder meeting regarding the proposed combination of Canopy Rivers and AIM2 Ventures. It had been previously announced that Canopy Rivers had entered into an agreement with AIM2 resulting in a reverse take-over of AIM2 by Canopy Rivers. The transaction is expected to close during the week of September 17, 2018 subject to the approval by the TSX Venture Exchange. The new symbol will be RIV.

CannaRoyalty

Canadian-based CannaRoyalty (CNNRF) reported its second-quarter earnings for the period ending June 30, 2018, with revenues increasing 266% to C$3.5 million versus last year’s revenues of C$960,157. In addition to that, CannaRoyalty made huge strides by delivering net income of C$9.3 million for the quarter versus last year’s net loss of C$2 million. The net income per diluted share was $0.17 as compared to a net loss per diluted share of $0.05 for the same time period in 2017.

In Other News

Emblem Corp.

Emblem Corp. (EMC), announced that it had secured a working capital advance for Natura Naturals Holdings Inc. The advance will help support the completion of Phase 1 construction of a 662,000 licensed greenhouse operated by Natura that is undergoing phased conversion and retrofitting while both companies negotiate a definitive agreement for Emblem to acquire Natura. The advance is made up of a one-year convertible debenture for a sum total of of up to $2,000,000. The advance is convertible into Natura shares at $0.80 per share plus one full share purchase warrant exercisable at $1.05.

Khiron Life Sciences

Khiron Life Sciences (KHRN) announced that it has priced and sized its marketed offering of common shares at a price of $0.90 per share to raise a total of up to $11.25 million. The offering will be overseen by a syndicate of agents led by Canaccord Genuity Corp. and including GMP Securities L.P., Sprott Private Wealth LP, and Cormark Securities Inc. Additionally, the agents have been granted an over-allotment option by the company to offer and sell up to an additional 15% of the number of share sold in the offering. The company expects to file a final short form prospectus form, in respect to the offering, on or around September 6, 2018 and the offering is expected to close on or around September 13, 2018.

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics (EMH) and Village Farms International Inc. (VFF) announced that their joint venture, Pure Sunfarms, has received from Health Canada its third amendment to its cultivation license for its Delta 3 greenhouse in Delta, BC. The amendment will allow Pure Sunfarms to expand its production capacity to approximately 420,000 square feet of the facility’s 1.1 million square feet. “We are thrilled with the rapid pace at which the Pure Sunfarms team continues to complete conversion of additional production area, as well as the rapid pace at which it has been able to secure amendments to its cultivation license to steadily expand production,” said Michael DeGiglio, CEO of Village Farms. “It’s a testament to the value of decades of large-scale operational experience combined with an unwavering approach to doing things the right way.”

Naturally Splendid

Naturally Splendid (NSPDF) reported second-quarter results for the period ending June 30, 2018, and recorded a net loss of $1,565,098 during the six months ended June 30, 2018, compared to a loss of $2,029,552 during the six months ended June 30, 2017.   The decrease in net loss was due to the sale of POS BPC Manufacturing Corp. which provided for a gain on sale of $1,535,096, offset by an increase in selling and distribution costs of $5,273 and Administrative expenses of $1,041,721 mainly due to the addition of the Prosnack business which were not included in the expenses in the comparative period, as the acquisition occurred on October 18, 2017.

Naturally Splendid recorded sales of $804,502 during the six months ended June 30, 2018, compared to $1,068,949 for the six months ended June 30, 2017.  This revenue decrease was mainly due to the collapse of sales of bulk hemp seed to South Korea where the Company had recorded $Nil bulk sales in the current quarter compared to $245,400 in the six months of 2017.


William SumnerWilliam SumnerAugust 15, 2018
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5min8830

Constellation Brands (STZ), best known as the distributor for Corona beer, is doubling down on its investment in Canopy Growth Corporation (WEED) in what some are calling one the largest investments in cannabis history. On August 15, 2018, Constellation announced that it would acquire 104.5 million shares of Canopy, increasing its stake in the company to 38 percent. At a price of C$48.60 per share, the value of the investment totals to approximately C$5 billion.

Additionally, Constellation will receive 139.7 million new purchase share warrants, which are exercisable over the next three years. Should Constellation exercise all existing and new warrants, it would increase its ownership of Canopy to 50 percent. As part of the agreement, Constellation will nominate four out of seven directors to Canopy’s Board of Directors, effectively seizing control of the board. Canopy founder, Bruce Linton, will remain as board Chairman and Canopy will continue to be led by its existing management team.

Canopy will use Constellation’s investment to strategically acquire and build critical assets in the United States, so long as it does not violate federal law, and the nearly 30 countries with federally legal medical cannabis programs. Canopy will also begin to lay the groundwork in those countries for future recreational cannabis markets as well. So far, the reaction within the cannabis industry to the investment has been mostly positive.

Beth Stavola, president and founder of MPX Bioceutical Corp. (MPX), said that the investment is a telltale sign of there direction in which the cannabis industry is headed.

“These alcohol and tobacco companies are starting to better understand the cannabis industry and the opportunity for large-scale growth,” said Stavola. “Mood modifying beverages for socialization is a natural segway for their businesses. As people continue to move toward a more healthy lifestyle and recognize some of the negative effects that alcohol may have on the body, I think we are only going to see this trend continue and get stronger.”

Mike Parmar, manager of investor relations for Isodiol International (ISOL), congratulated Canopy on its investment from Constellation, stating that the infused cannabis beverage markets “is poised to take another significant leap forward.” Canopy Growth is Isodiol’s Canadian licensing partner.

Despite the fear that Constellation’s investment would lead to greater market consolidation, Caliva founder Dennis O’Malley thinks that there is still plenty of opportunity of those in the cannabis industry.

“We believe there is a major consumer shift from alcohol to cannabis and that the Budweiser of cannabis has not yet been created,” said O’Malley. “There is a massive opportunity to innovate on form factor, dosage, and formulations in cannabis beverages to meet the fast-changing consumer demands.”

Linda Montag, a Senior Vice President at the financial services company Moody’s, was more circumspect, characterizing the investment as an expensive gamble for Constellation.

“Constellation’s investment in Canopy is a large bet at a very rich price, which can only be justified if the company proves that it can benefit from the changing environment for cannabis in Canada and beyond,” said Montag.”Constellation’s acquisition appetite has long been a rating consideration, but the deviation from its core beverage alcohol business into an entirely new space introduces potential new risks along with opportunities.”


William SumnerWilliam SumnerAugust 10, 2018
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3min1740

Cannabis crime is down and tax revenue is up, according to an annual report released by the city of Denver, Colorado that analyzes the effect of cannabis legalization in the city. The report covers data from January 2017 to January 2018 and demonstrates the continued positive impact of cannabis legalization.

From 2016 to 2017, medical cannabis sales declined by 3% while retail cannabis sales in the city increased by 29%. Tax revenue generated by cannabis sales and licensing in 2017 increased by roughly 20% and for 2018 revenue is projected to increase by 8%. Overall, the tax revenue generated by cannabis sales represented approximately 3.4% of the city’s general fund revenue compared to 3.02% in 2016.

“We took on the daunting challenge of becoming the first major city in America to manage legalized recreational marijuana and we are having success,” Hancock said. “That’s because of coordination between Denver’s Excise and Licenses, Denver’s Fire Department, Police Department, Department of Public Health and Environment, Community Planning and Development, as well as our partners in other city agencies, the community from the marijuana industry and public health advocates.”

From 2014 to 2018, cannabis tax revenue contributed more than $11 million to the city’s “High Costs” youth prevention campaign as well as various youth-serving organizations funded by Denver’s Offices of Children’s Affairs and Behavioral Health. Additionally, $12.4 million in cannabis tax revenue was appropriated for deferred maintenance, affordable housing, and opioid intervention.

2018 RETAIL MARIJUANA SPECIAL SALES TAX AND STATE SHAREBACK ALLOCATION

Regulation: $2,385,647, 12%
Enforcement: $2,805,803, 13%
Education: $3,652,116, 17%
Public Health: $2,363,375, 11%
Improvement to City and Facilities: $10,000,000, 47%

Crime

Cannabis-related crime in 2017 represented less than 1% of overall crime in the city and declined from 0.42% in 2016 to 0.30% in 2017. Likewise, cannabis industry related crime fell from 0.32% in 2016 to 0.21% in 2017. The report stated that “Violent crime related to the licensed marijuana industry is rare, with seven reported in 2013, 10 reported in 2014, eight reported in 2015, three reported in 2016, and 8 reported in 2017.” Marijuana-related DUIDs stayed flat at 63 in 2016 and 63 in 2017.

In a statement, Denver Mayor Michael B. Hancock praised the report and stated that its results demonstrate that the city’s approach to cannabis legalization is working.

To view the full report, click the following link.


William SumnerWilliam SumnerAugust 9, 2018
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5min1440

It’s time for your Daily Hit of cannabis financial news for August 9, 2018.

On the Site

High Times

The longest-running marijuana media company High Times is launching an unfiltered “over-the-top” online streaming-video product called High Times TV. The channel is live now on tv.hightimes.com and available as an app for iOS, Apple TV, Android, and Roku. HTTV  was created in order to give a home to the best cannabis-related videos across the internet. In turn, creators and fans will get a much-needed resource to find entertainment and information that continues to come under fire from traditional outlets that have tried to restrict content featuring marijuana. You may recall that recently, YouTube began deleting Spanish language cannabis related channels.

Canopy Growth Corporation

Canopy Growth Corporation  (CGC) has acquired all of the remaining outstanding shares of its Chilean in-market entity, Spectrum Cannabis Chile SpA . According to the statement, in exchange for Cannagrow SpA’s 15 percent interest in Spectrum Cannabis Chile SpA, Canopy Growth paid cash of US$750,000. Prior to the acquisition, the Company controlled 85 percent of the issued and outstanding shares of Spectrum Cannabis Chile SpA.

In Other News

Terra Tech Corp.

Today, Terra Tech Corp. (TRTC) reported its financial results for the second quarter, ending on June 30, 2018. Revenue for the quarter rose 11% from $7.8 million during the same period in the previous year to $8.7 million. The company’s net loss also rose from approximately $500,000 to $11.4 million. Cash on hand slightly declined, falling from $5.4 million as of December 31, 2017, to $5.2 million. “During the second quarter of fiscal 2018 we focused on both growing topline revenues, which reached $8.7 million for the quarter, and investing in building out infrastructure to support our longer-term growth strategy,” commented Terra Tech CEO Derek Peterson.

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TGOD) announced that is has chosen Shopify to build its e-commerce platform for medical cannabis and future recreational cannabis sales. Shopify is slowly becoming one of the leading sources in the cannabis industry for e-commerce solutions. The company has already entered into agreements to build e-commerce platforms for Aurora Cannabis, The Hydropothecary Corporation, and the provincial government of Ontario. “We are pleased to announce this agreement with e-commerce giant Shopify,” said Csaba Reider, President of TGOD. “We see tremendous value in this relationship and Shopify will play an instrumental role in our ability to rapidly scale and provide our premium organic cannabis to global markets.”

Cronos Group Inc.

Cronos Group Inc. announced that it has entered into a supply agreement with Cura Select Canada, Ltd. In terms of revenue, Cura is one of the largest cannabis companies and is best known for its Select Oil and Select CBD brands. Cronos has signed a five year take-or-pay supply agreement in which Cura will purchase a minimum of 20,000 kilograms of cannabis per year from Cronos Growing Company Inc., which Cura will use to develop and manufacture cannabis extracts and products. “We are thrilled to be partnering with one of the cannabis industry leaders in extraction technology and value-added products,” said Mike Gorenstein, CEO of Cronos Group. “This supply agreement is the start to a synergistic collaboration for our newly created entity Cronos GrowCo and through the structure with Cura, is the type of creative and forward-thinking partnership that is at the core of industry-leading infrastructure that Cronos seeks to establish.”

 


William SumnerWilliam SumnerAugust 8, 2018
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3min2140

Isodiol International Inc. (ISOL), a manufacturer of pharmaceutical grade CBD and CBD-based products, announced that its subsidiary, Iso-Sport, has entered into an agreement with ALTIS LLC. Based out of Arizona, ALTIS is a company dedicated to promoting Track & Field through multi-disciplinary unification of the sport and provides elite athletes a variety of services such as coaching, integrated support services, and education.

Under the agreement, Iso-Sport and Altis will work closely together to research and develop CBD products aimed at improving athletic performance, recovery, and sleep. To that end, the companies will design and implement a designated within Altis’ primary track and field facility that is dedicated to sports science, dubbed the “Iso-Sport Living Lab.”

The companies will also work together to produce or facilitate at least one scientific study per year to investigate the impact of CBD on athletic health and performance. Altis will distribute and sell Iso-Sport CBD products throughout its retail and wholesale distribution channels and publish one or more articles on its website that specifically demonstrate the benefits of CBD in athletic health and performance.

As part of the agreement, Isodiol will pay Altis an initial cash payment of $250,000 and provide Altis athletes with a supply of Iso-Sport products. Additionally, Isodiol will make annual cash payments of $125,000 to Altis, which will be based on the fulfillment of performance milestones.

“With the introduction of the Altis: Iso-Sport Living Lab, we aim to generate new scientific data and knowledge by exploring, experimenting, and evaluating new ideas within the natural sporting ecosystem,” said Altis CEO, Stuart McMillan. “Altis is building a community of innovative, multi-disciplinary, and collaborative partnerships with educational institutions, private businesses, coaches, researchers, and athletes with the goal of, quite simply, changing the way sports science is done by turning the real world into a laboratory.  This new relationship with Isodiol and Iso-Sport and the companies’ innovation with CBD products is a great step forward toward our goals.”



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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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