William Sumner, Author at Green Market Report

William SumnerWilliam SumnerNovember 14, 2018
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3min1311

Harvest Enterprises Inc. announced that it has closed its reverse takeover (RTO) of RockBridge Resources Inc., which will now be known as Harvest Health & Recreation Inc. Harvest Enterprises is just the latest in a growing number of cannabis companies going public in Canada through a reverse takeover.

Most recently, Cresco Labs LLC went public on the Canadian Securities Exchange (CSE) through an RTO of Vancouver-based Randsburg International Gold Corp., and Acreage Holdings, one of the largest vertically integrated cannabis companies in the U.S., has also announced plans to go public through an RTO.

As part of the RTO, the company created a three-class voting structure for shareholders, taking effect on November 14, 2018. Holders of subordinate voting shares are entitled to one vote per share on all matters to be voted on by shareholders. Multiple Voting shareholders are entitled to 100 votes per share, and Super Voting shareholders are entitled to 200 votes per share.

The RTO was made possible through a series of actions; including an exchange of shares between existing shareholders of the acquired company, a share exchange between existing holders of common shares of Harvest FINCO, Inc., and an amalgamation among the Corporation, Harvest Finco Canada and 1185928 B.C. Ltd.

In conjunction with the RTO, HVST Finco (Canada) Inc. also announced that it has completed a brokered private placement offering.

Co-led by Eight Capital, Canaccord Genuity Corp. and GMP Securities L.P, the offering issued 33,305,294 subscription receipts of the company at a price of $6.65 per subscription receipt. The offering generated in total $218,149,676 in gross proceeds. Upon the closing of the offering, the subscription receipts were converted into common shares in the capital of Harvest Finco Canada and subsequently exchanged into subordinate voting shares of the company.

Harvest Health has received conditional approval from the CSE to lists its subordinate voting shares. The shares are expected to commence trading under the symbol “HARV” on November 15, 2018.


William SumnerWilliam SumnerNovember 14, 2018
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4min290

It’s time for your Daily Hit of cannabis financial news for November 14, 2018.

On the Site

Canopy Growth

Canopy Growth (CGC) stock fell over 8%  to trade at roughly $35.25 in early trading after the Canadian cannabis company missed analysts estimates. Canopy Growth reported that its second-quarter fiscal 2019 revenues jumped 33% to C$23.3 million, but analysts had estimated the company should have had revenues of C$60 million. Sales and marketing expenses were $7.6 million or 43% of revenue.

AxisWire Hosts First Annual STAR Media Awards

On November 13, 2018, AxisWire held the first annual STAR Media Awards in Las Vegas, Nevada. The awards honored writers and publications for excellence in the world of cannabis journalism; an essential, yet often unrecognized part of the cannabis industry. It was a rare gathering of cannabis media giants, with almost every major cannabis industry publication in attendance.

In Other News

Veritas Pharma Inc.

Veritas Pharma Inc. (CSE: VRT) announced that it has entered into a binding share purchase agreement to sell all of its outstanding common shares of Sechelt Organic Marijuana Inc. to Leis Industries Limited for $350,000. Under the agreement, Leis will pay Veritas $180,000 in advance, and the remaining $170,000 will be paid through shares of the company, which will be released upon the receipt of an occupancy permit post-construction.

Surna Inc.

Surna Inc. today announced its financial and operating results for the three months and nine months ending on September 30, 2018. Revenue for the quarter increased by 66% to 3,325,000 and gross profit margins increased to 33%. The company’s quarterly net loss declined to $644,000; representing a 54% decrease. “While we realize that one quarter is just that and the Company still has losses, Q3 2018 was nonetheless a gratifying validation of the foundation that we have established and the operational improvements that have been implemented across every aspect of Surna’s business over the last four quarters,” commented Surna CEO Chris Bechtel.

The Supreme Cannabis Company Inc.

The Supreme Cannabis Company Inc.  announced the release of its financial results for the quarter ending on September 30, 2018. Revenue rose by 45% from $3.55 million in the previous quarter to $5.14 million. The company’s comprehensive net loss also rose from S2.18 million to $5.39 million; representing a  147% increase. “Supreme Cannabis’ results in the first quarter mark a solid beginning to a historic year in a competitive, dynamic and rapidly evolving marketplace,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “Q1 2019 results are continued validation for the successful execution of our strategy for our 7ACRES business to establish a competitive advantage in quality driven regulated cultivation at scale.”


William SumnerWilliam SumnerNovember 14, 2018
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3min510

On November 13, 2018, AxisWire held the first annual STAR Media Awards in Las Vegas, Nevada. The awards honored writers and publications for excellence in the world of cannabis journalism; an essential, yet often unrecognized part of the cannabis industry. It was a rare gathering of cannabis media giants, with almost every major cannabis industry publication in attendance.

Founded in 2018 and headquartered in Los Angeles, California, AxisWire is a technology platform aimed at connecting journalists and entrepreneurs by providing a suite of services ranging from press release writing and distribution to consulting and compliance.

The evening started off with a stirring and inspirational speech about how much cannabis publications and writers have advanced the cause of legalization. He also pointed out that with the explosive growth of the burgeoning cannabis industry, many of these companies are dependent on cannabis journalism to get the word out.

His words of gratitude towards the journalist were greatly appreciated by the audience; especially the cannabis journalists themselves, many of whom have beeen writting for years without any recognition. The event then transitioned to the awards ceremony, which was hosted by Green Market Report Co-Founder and CEO Deborah Borchardt.

A total of six cannabis publications and six cannabis journalists were honored with awards. The first annual STAR Media Awards winners were:

Cannabis Publications

  • Best Traditional Cannabis Publication (High Times)
  • Best New Cannabis Publication (Green Entrepreneur)
  • Best Cannabis Business Publication (MJ Biz Daily)
  • Best Cannabis Print Publication (DOPE)
  • Best Cannabis Culture Publication (Civilized)
  • Best Cannabis Digital Publication (The Fresh Toast)

Cannabis Journalist

  • Best Cannabis Culture Writer – Michelle Janikian
  • Best Cannabis Cultivation Writer – Danny Danko (High Times)
  • Best Cannabis Business Writer – Javier Hasse (Benzinga)
  • Best Cannabis Main Stream Writer – Alex Halperin (The Guardian)
  • Best Cannabis Freelance Writer – Sara Brittany Somerset (Forbes/Leafly)
  • Best Social Media Impact In Cannabis – Garyn Angel (Magical Butter)

William SumnerWilliam SumnerNovember 13, 2018
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6min510

It’s time for your Daily Hit of cannabis financial news for November 13, 2018.

On the Site

Cronos Group

Cronos Group (CRON) reported a 186% increase in third quarter revenues to $3.8 million versus last years $1.3 million for the same time period. Gross profits were essentially flat with C$2.09 million for this past quarter versus C$2.0 million for the previous year. The net loss increased to C$7.2 million for the quarter over last year’s net income of C$1.0 million. The net loss per diluted share was four cents versus last year’s net income per diluted share of one cent.

Cannabis Company President Applies Tech Boom Lessons to Cannabis Industry

Editors Note: This content was contributed by Strainprint Technologies. “It doesn’t matter if you’re selling pickaxes and dynamite to panhandlers during the gold rush or selling market research and patient engagement software during the green rush,” said David Berg, Chief Technology Officer of Strainprint. “The lessons are universal.” Berg finds that when it comes to business, everything that is old is new again.

In Other News

Valens GroWorks Corp.

Valens GroWorks Corp. (CSE: VGW), a vertically integrated provider of cannabis-related products and services, announced today that it has begun trading on the OTCQB market. The company will continue to trade on the Candian Securities Exchange under the symbol VGV. “We are excited to have finalized our new listing on the OTCQB® Marketplace.  This new listing, combined with the current work underway to finalize the Company’s DTC eligibility, will increase Valens’ presence with United States investors, providing increased liquidity to the Company’s growing shareholder base,” commented Tyler Robson, Valens CEO.

Green Thumb Industries

Green Thumb Industries (CSE: GTII) announced that it has signed a definitive agreement to acquire Integral Associates. Included in the acquisition is the retail brand Essence, which operates in the Las Vegas Valley; Desert Grown Farms, a cannabis cultivation facility which is home to a genetic library of 100+ cannabis strains; and Cannabiotix NV, a cultivation facility that has won several High Times Cannabis Cups. “We are thrilled to expand GTI’s production, distribution and retail footprint in one of the most popular tourist destinations in the world,” said Ben Kovler, GTI Founder and CEO. “This acquisition is immediately accretive and an important milestone as we position GTI to scale in one of the only limited license adult use markets.”

MJardin Group

MJardin Group today completed its reverse takeover (RTO) of Sumtra Diversified Inc. Sumtra has changed its name to MJardin Group, Inc. and has delisted its shares from the TSX Venture Exchange. The company has received preliminary approval to lists its shares on the Canadian Securities Exchange and will commence trading on November 15, 2018 under the symbol “MJAR.”

Sproutly Canada Inc.

Sproutly Canada Inc. (CSE: SPR) announced that it has entered into a letter of intent to form a joint venture with Global Canna Labs Limited. Global Canna Labs is the largest medical cannabis provider in the Caribbean. Under the agreement, the companies will develop, produce, distribute, and market cannabis infused beverages, edibles and topical products from Sproutly’s fully licensed, APP Technology. “Partnering with Global Canna Labs on this joint venture allows Sproutly to expand its business outside of Canada with a leading, low cost cannabis cultivator in Jamaica that has proven distribution across the Caribbean and expanding into the European Union,” said Keith Dolo, Sproutly President and CEO. “This partnership will enable Sproutly to diversify its product portfolio and accelerate its global distribution network from a low-cost regulated jurisdiction.”


William SumnerWilliam SumnerNovember 9, 2018
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3min1750

MedMen Enterprises Inc. (CSE: MMEN) is looking to raise some extra cash. On November 19, 2018, MedMen announced that it has entered into a letter of engagement with Canaccord Genuity Corp. Under the agreement, Canaccord has agreed to purchase, on behalf of a group of underwriters, 17,648,000 units of the company on a bought deal basis. At a price of $6.80, the gross proceeds of the offering amount to $120,006,400.

Although the company reported roughly $40 million in annual revenue, its operating costs have been staggeringly high. In the fourth quarter alone, MedMen’s operating expenses were $72.6 million. For the year, the company’s net loss and comprehensive net loss were around $112 million.

Executives at the company attribute the high operating costs to significant investments in the company’s long-term strategy by building up personnel and company infrastructure. In the fourth quarter, MedMen incurred a series of high one-time expenses; including the company’s RTO ($2.7 million), acquisition-related costs ($3.5 million), and $30.8 million in non-cash stock compensation and employee incentive plan expense. Despite these costs, the company’s balance sheets still look favorable, with cash and cash equivalents of $79.2 million and total debt at $56 million.

In addition to the initial offering, MedMen has agreed to grant the underwriters an over-allotment option to purchase another 2,647,200 units at the issuing price. Underwriters may exercise the option to acquire units, Class B Shares of the company, and/or warrants.

A unit constitutes one Class B Subordinate Voting Share and one-half of one Class B share purchase warrant. Each purchase share unit entitles the holder to purchase one Class B share at a price of $10 for up to three years following the closing of the offering.

The option is exercisable up to thirty days following the closing of the offering. If exercised, the option will generate an additional $18,000,960; raising the proceeds of the offering to $138,007,360. The offering is expected to close on or around November 30, 2018.


William SumnerWilliam SumnerNovember 8, 2018
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5min1612

It’s time for your Daily Hit of cannabis financial news for November 8, 2018.

On the Site

Aphria Inc.

Aphria Inc. (NYSE: APHA)  is acquiring German-based CC Pharma GmbH, a leading distributor of pharmaceutical products to more than 13,000 pharmacies in Germany. Aphria considers the country a key part of its international expansion. According to the company statement, Aphria will pay €24.5 million in cash to CC Pharma at closing, with an earn-out multiple on future EBITDA of up to another €23.5 million following closing, if certain performance milestones are met. The acquisition is expected to close in January 2019.

Cannabis Biotechs Post Financial Results, Downplaying Losses

The biopharmaceutical companies Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) and Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) today posted their financial results for the third quarter, which ended on September 30, 2018. In the results, both companies glossed over their less than stellar financial situation, opting instead to highlight their clinical achievements over the last quarter.

Innovative Industrial Properties

Cannabis REIT Innovative Industrial Properties (NYSE: IIPR) reported that its revenue increased by 150% to $3.9 million for the third quarter ending September 2018 versus $1.6 million for the same time period last year. The company also delivered a net income of $1.5 million or $0.21 per diluted share. The adjusted funds from operations, a measure typical of REITs was $2.6 million or $0.38 per share.

In Other News

Trulieve Cannabis Corp.

Trulieve Cannabis Corp. (CSE: TRUL) announced that is has entered into an agreement to acquire both Massachusetts-based Life Essence Inc. and California-based Leef Industries. The two acquisitions mark the company’s first business ventures outside of the state of Florida. Life Essence is a vertically integrated cannabis company that is currently applying for licenses to build and operate three medical cannabis dispensaries, three adult-use dispensaries, and to construct a 126,000 square foot cultivation and processing facility. Leef Industries is an adult-use and medical cannabis dispensary that holds one of only 12 fully-permitted annual licenses in the state of California.

CV Sciences Inc.

CBD producer CV Sciences Inc. (OTCQB: CVSI) has announced its financial results for the third quarter ending on September 30, 2018. The company recorded $13.6 million in sales, representing an increase of 143%. Gross profits grew by 149% to $9.9. The company’s adjusted EBITDA was $4.1 million. “We are encouraged by our performance as we delivered another strong quarter, including our third consecutive quarter of profitability,” stated CV Sciences CEO, Joseph Dowling. “This was led by initiatives that include accelerating our brand recognition and brand loyalty and growing sales distribution channels that have generated triple-digit year-over-year revenue growth and double-digit sales growth on a sequential quarterly comparison.”

Planet 13 Holdings Inc.

Planet 13 Holdings Inc. (CSE: PLTH), a vertically integrated cannabis company in the state of Nevada, has entered into an agreement with Beacon Securities Limited, representing a group of underwriters, for a $20 million bought deal. Under the agreement, the underwriters have agreed to purchase approximately 6.6 million units of the company at a price of $3.00 per unit. The company has also granted an over-allotment option which would allow the underwriters to purchase up to an additional one million units of the company.  The offering is expected to close on December 4, 2018.


William SumnerWilliam SumnerNovember 8, 2018
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4min991

The biopharmaceutical companies Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) and Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) today posted their financial results for the third quarter, which ended on September 30, 2018. In the results, both companies glossed over their less than stellar financial situation, opting instead to highlight their clinical achievements over the last quarter.

Zynerba Pharmaceuticals

Over the last quarter, Zynerba was able to raise approximately $29.9 million through a follow-on public offer. The company has approximately $66.2 million in cash and cash equivalents, slightly down from $66.5 million at the start of the year. Company management believes that this is sufficient capital for the company to continue operations into at least the first half of 2020. Net losses for the quarter were down, falling from $8.31 million during the same period in the previous year to $7.8 million. The net loss per share, basic and diluted, was $0.47. “The momentum we established in the first half of 2018 continued through the third quarter,” commented Armando Anido, Chairman and CEO of Zynerba. “We began enrolling patients into CONNECT-FX, our pivotal study in Fragile X syndrome and we expect to complete enrollment in BELIEVE-1, our Phase 2 study in developmental and epileptic encephalopathies, before year end. With our third quarter 2018 follow-on offering, we are well capitalized and expect our current cash to take us through the presentation of top line data for both of these studies.”

Corbus Pharmaceuticals

Losses for the company increased over the last quarter, rising from $6.9 million in the same period in the previous year to $14.6 million. Revenue for the quarter rose, but not nearly enough to cover its losses; increasing from $0.3 million to $1.1 million. The increase in revenue was attributed to a $25 million Development Award Agreement with the Cystic Fibrosis Foundation. However, operating expenses also rose, going from $8.2 million to $16 million; which was attributed to increased spending for clinical studies. Currently, Corbus has $55.7 million in cash and cash equivalents. Combined with the grant from the Cystic Fibrosis Foundation, the company believes that it has enough capital to continue operating until the fourth quarter of 2019. “Our expanded pipeline of ECS-targeting drug candidates is now diversified with lenabasum, our lead late-stage clinical asset in four rare inflammatory indications with expected clinical read-out in 2020, together with CRB-4001, which is expected to enter the clinic in 2019 as a novel candidate for nonalcoholic steatohepatitis, or NASH,” said Corbus CEO, Yuval Cohen, Ph.D. “We have progressed in securing a platform for potential future growth for our Company from our library of over 600 compounds targeting ECS pathways.”


William SumnerWilliam SumnerNovember 6, 2018
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7min1080

Today, millions of Americans will head to the polls to cast their vote in the U.S. 2018 Midterm Elections. As is often said, many are calling this one of the most important elections in a generation; and for the cannabis industry, it might actually be true.

On the ballot in four U.S. states are measures that are measures that would legalize either adult-use or medical cannabis in some shape or fashion. Those four key states are Michigan, North Dakota, Utah, and Missouri. Here’s a quick look at each ballot initiative and their odds of successfully passing.

Michigan

Resident in Michigan will be voting on Proposal 1, a ballot initiative legalizing cannabis for adults over the age of 21. If passed, the measure will allow adult-use cannabis sales through state-licensed dispensaries and, levy a 10% excise tax, and allow individuals to grow up to 12 cannabis plants for personal use. Current polling for the measure shows strong support among likely Michigan residents, with approximately 57% of respondents in favor of the measure and 40% opposed.

North Dakota

Similarly, Proposition 3 in North Dakota would legalize adult-use cannabis sales and cannabis paraphernalia for adults over the age of 21. Unlike previous legalization measures, Proposition 3 would expunge the criminal record for every individual arrested for cannabis possession, provided that they were over the age of 21 when the arrest took place. Skewing uniquely Libertarian, the measure is largely silent on cannabis sales, home cultivation, or possession limits. Polling has been all over the place with Proposition 3, with some polls showing it passing by 51% while others have the measure only garnering 26% of the vote. Given the erratic polling, this race is truly a toss-up.

Utah

In Utah, Proposition 2 would somewhat legalize medical cannabis for patients suffering from debilitating conditions. Instead of creating a taxed and regulated dispensary-based system, Proposition 2 would allow patients to obtain medical cannabis through a designated caregiver. Earlier this year support for Proposition 2 was relatively high, but in the intervening weeks before the election, support for the measure has waned to around 51%. Aggravating this declining support is the fact that patient advocates and Utah state legislators have already agreed to make changes to the legislation once passed, which has rankled cannabis supporters. Proposition 2 is still expected to pass, but what that means for patients or the industry is still unclear.

Missouri

There are three cannabis initiatives on the ballot in Missouri; Amendment 2, Amendment 3, and Proposition C. As the names imply, Amendment 2 and 3 would enshrine medical cannabis laws into the state’s constitution while Proposition C would merely change the law. All three measures would legalize medical cannabis, establish state dispensaries, and tax medical cannabis sales. For the most part, the only key differences are how high the taxes are and where they are distributed. The measure which has the most support is Amendment 2, and many outside observers expect that it will be the one to pass out of the three. Unlike the other two, Amendment 2 would allow patients to grow up to six plants and patients could grow up to 18 plants. Polling for this initiative has been somewhat spotty, with most simply asking about the public’s general support for cannabis. However, the most recent poll from Emerson College found that 63% of state residents supported legalizing medical cannabis; indicating that all three measures have a strong chance to pass.

With the exception of the toss-up in North Dakota, all of the proposed cannabis initiatives show strong signs that they will pass; giving many in the cannabis industry a feeling of cautious optimism. In a statement, Kevin Love, Director of Product Development for Cannabiniers, said that his company feels confident in the outcome of this upcoming election.

“We are optimistic for the election outcomes due largely in part to the fact that there are more candidates running in favor of cannabis reform than ever before,” said Love. “General public support of cannabis legalization is the greatest that it has ever been. As we bring our cannabis brands nationally, we are excited for more states to expand access to legal cannabis.”


William SumnerWilliam SumnerNovember 1, 2018
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5min1430

It’s time for your Daily Hit of cannabis financial news for November 1, 2018.

On the Site

Hydrofarm Holdings Group

Hydrofarm Holdings Group, an independent manufacturer and wholesaler of agricultural products and hydroponic equipment, announced that is has completed a $55 million equity financing round. In addition to strategic and institutional investors, the financing round including an investment from one of the largest private equity firms in the cannabis industry, Serruya Private Equity (SPE).

MedMen Enterprises Inc.

MedMen Enterprises Inc. (OTCQX: MMNFF) is acquiring  Arizona-based Kannaboost Technology Inc. and CSI Solutions LLC, known as “Level Up,” in a cash and stock transaction valued at $33,000,000. According to the company statement, Level Up holds licenses for two vertically-integrated operations in Arizona, which include retail locations in Scottsdale and Tempe, as well as 25,000 square feet of cultivation and production capacity in Tempe and Phoenix.

In Other News

Auxly Cannabis Group Inc.

Auxly Cannabis Group Inc. announced that the company had received approval from the governing body responsible for foreign direct investment in Uruguay, the Secretaría Nacional para la Lucha contra el Lavado de Activos y el Financiamiento del Terrorismo (SENACLAFT), to acquired 80% of the issued and outstanding common shares of Inverell S.A. This acquisition will help provide the company with an efficient, low-cost source of cannabinoids; CBD in particularly. With a cheap and stable supply of CBD, the company hopes to take advantage of newly emerging international distribution channels for the substance. This strategy includes a partnership with ICC International Cannabis Corporation Inc., which will give the company access approximately 35,000 pharmacies in 16 markets.

WeekendUnlimited Inc.

The lifestyle cannabis company, WeekendUnlimited Inc. (CSE: YOLO), announced that is has entered into an arms-length binding letter of intent to acquire the Jamaican cannabis company, R&D Pharma. R&D Pharma is only one of three approved Tier-3 cultivators in the country. The acquisition also includes a 49% stake in one of the other two Tier-3 license holders in Jamaica. “This acquisition in Jamaica represents a significant step for Weekend Unlimited as it implements its strategy to be a top tier integrated cannabis company,” said Weekend Unlimited President and CEO, Cody Corrubia. “By adding R&D to our brand portfolio, we secure a highly coveted asset for cultivation in a low cost, high-quality environment like Jamaica, which has international appeal in the cannabis space, with unparalleled lifestyle applications.”

GW Pharmaceuticals

After years of clinical trials and government reviews, GW Pharmaceuticals (NASDAQ: GWPH) has announced that the cannabis-based epilepsy drug, Epidiolex, is now available in all 50 U.S. states. Epidiolex is the first cannabis-based drug to be approved for use by the U.S. Food and Drug Administration. To help uninsured and low-income patients, the company has launched a support program called EPIDIOLEX Engage which will reportedly help reduce out-of-pocket costs. “EPIDIOLEX is a much-needed new treatment option for patients with LGS, a rare and severe form of childhood-onset epilepsy that typically persists into adulthood,” said Christina SanInocencio, Executive Director of the Lennox-Gastaut Syndrome Foundation, in a statement. “Despite the use of multiple epilepsy treatments, the majority of LGS patients continue to have life-long, debilitating seizures and our community welcomes the availability of a new, first-in-class treatment option.”


William SumnerWilliam SumnerNovember 1, 2018
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3min1331

Hydrofarm Holdings Group, an independent manufacturer and wholesaler of agricultural products and hydroponic equipment, announced that is has completed a $55 million equity financing round. In addition to strategic and institutional investors, the financing round including an investment from one of the largest private equity firms in the cannabis industry, Serruya Private Equity (SPE).

Annually, Hydrofarm brings in roughly $250 million in revenue, making the company significantly larger than many of the major players in the cannabis industry, such as MedMen ($39.8 million) or Aurora Cannabis (CAD$18 million). The company plans to use the financing to help fund growth opportunities in the global cannabis market; which includes mergers and acquisitions, expanding its distribution capability, and growing its product offerings and service capabilities.

“We are very excited about the significant growth opportunity in the broader global cannabis end market,” said SPE Managing Director, Michael Serruya. “Hydrofarm represents a unique opportunity to help the industry grow by creating a one-stop shop for all market participants to purchase hydroponics equipment and horticultural products, through its network of authorized resellers, for high quality, efficient cultivation.”

With more than four decades of experience in hydroponics and indoor gardening, Hydrofarm is poised to become a powerful force in the legal cannabis industry. As a manufacturer and distributor of hydroponic equipment and supplies, Hydrofarm has access to more than 1,500 hydroponic and gardening retailers across North America and touts over 5,000 product SKUs ranging from nutrients and lighting solutions.

“The strong investor response to this financing is a testament to Hydrofarm’s business strategy and position as one of the dominant players in the industry, as well as demand to participate in the growth of the global cannabis industry though an established, U.S. domiciled and federally-legal company,” said Adam Stern, CEO of SternAegis Ventures and Head of Private Equity Banking of Aegis Capital.



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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