William Sumner, Author at Green Market Report - Page 2 of 29

William SumnerWilliam SumnerAugust 22, 2019
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2min4350

It has been often said that cannabis helps foster creativity and ingenuity. From Jimi Hendrix to Carl Sagan, many of the greatest artistic and scientific minds in history have used cannabis to help spur cultural progress, and yet surprisingly few entrepreneurs have aspired to create a cannabis strain specifically bred to inspire creative thought. A new cannabis brand called Gen!us hopes to change that with the introduction of a line of cannabis products aimed at stoking the fires of innovation.

Touting a team of researchers, microbiologists, chemists, engineers, and veterans cannabis cultivators; Gen!us owns its own cultivation, manufacturing, and extraction facilities and has plans to open a boutique dispensary on Melrose Ave. in Los Angeles this September.

While other brands, like Ebbu, aim to invoke emotional states like relaxation or productivity, this new line of cannabis seeks to help its users think outside the box and “unlock the genius stream.” The brand was founded by lifelong entrepreneur Chris Clifford, who started his first business in his dorm room at age 17.

“Cannabis has fueled some of the world’s most gifted innovators and artists in their creations. They inspire us to create cannabis on their level,” Clifford said in a statement announcing the brand’s launch.

Although Gen!us is relatively new, the brand has already gained traction online, with the likes of Cypress Hill and Lil John Roberts sharing the company’s #CannabisForCreatives online.

Currently, Gen!us has four categories of products; including Indica, Sativa, Hybrid, and CBD. Indica strains include OG Kush, Josh D OG, Larry OG, Grand Daddy Purple, and Gelato. Sativa-based Gen!us strains include Green Crack, Orange Tree, Rollins, and Orange Zkittles. The strands that balance THC/CBD ratios are Do-Si-Do, Lemon Fuel, Banana Fig, Birthday Cake, Strawna, and Thin Mint. Gen!us features a single CBD-based strand, called ACDC, which is available only in vaporizer form.


William SumnerWilliam SumnerAugust 15, 2019
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7min3750

It’s time for your Daily Hit of cannabis financial news for August 15, 2019.

On the Site

Trulieve

Yesterday, Trulieve Cannabis Corp. (OTCMKTS: TCNNF) (CNSX: TRUL) announced the release of its second quarter financial results. Year-over-year, Trulieve’s increased 149% from $23.3 million to $57.9 million. Keeping pace with revenue, operating expenses also rose from $6 million to 14.8 million, representing a 146% increase. Gross profit was $37.6 million, and the gross profit margin was 65%. Adjusted EBITDA was $31.6 million.

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) has reported its financial results for the second quarter, ending on June 30, 2019. Revenue rose from $19.2 million in the previous quarter to $26.6 million, representing an increase of 39%. If one were to include Harvest Health’s completed and pending acquisitions, quarterly revenue would be $78 million.

Money Moves From Aurora Cannabis, Green Growth Brands

Aurora Cannabis Inc.  (NYSE | TSX: ACB) said that it has secured commitments from an expanded syndicate of lenders led by the Bank of Montreal to amend and upsize its existing C$200 million secured credit facility.

Green Growth Brands Inc. (CSE:GGB) (OTCQB:GGBXF) said that it has entered into backstop commitment letters with each of All Js Greenspace LLC, Park Lane Capital Limited, and Chiron Ventures Inc. in which they have committed to subscribe for and purchase up to C$102,796,241 in the aggregate or roughly $77 million of convertible debentures to support the Company’s operations and capital needs.

Canopy Growth

Canopy Growth Corporation  (TSX: WEED) (NYSE: CGC) stock dropped over 10% after the company announced its financial results for the first quarter ending June 30, 2019. The worst of the news in the release was that the company’s fiscal first-quarter net losses of C$1.28 billion, or C$3.70 a share, dwarfed last year’s losses of C$91 million, or 40 cents a share. The loss was attributed to a non-cash charge of $1.2 billion in Canopy’s extinguishing warrants related to the Constellation Brands Inc. (NYSE: STZ) investment.

In Other News

Vireo Health

Vireo Health International, Inc. (CNSX: VREO) (OTCQX: VREOF) announced that its affiliate, Ohio Medical Solutions (OMS), has been granted a Certificate of Operation by the Ohio Department of Commerce. OMS, which was previously granted a provisional processing license, will begin operations immediately. The license will allow OMS to purchase plant material from cultivators and manufacture Vireo-branded medical cannabis products.  “We are delighted that Ohio Medical Solutions will begin manufacturing Vireo products for the benefit of Ohio patients,” said Vireo CEO, Kyle Kingsley, M.D. “The City of Akron has been great to us and as our business grows, we look forward to continuing to create new jobs and make a positive impact on the local economy.”

Front Range Biosciences

Front Range Biosciences (FRB) announced that it has entered a collaborative licensing agreement with Steep Hill, and that it will acquire Steep Hill’s Genomics Research & Development team. The agreement will help accelerate FRB’s marker-assisted breeding program and develop new traits and varieties of hemp and cannabis. “The Steep Hill R&D team is among the top three cannabis genomics groups in the world, and we are very excited to welcome them to FRB,” said Dr. Jonathan Vaught, CEO and Co-Founder of FRB. “This acquisition is a major value inflection point for FRB…”

Medical Marijuana Inc.

Medical Marijuana Inc. has filed its financial results for the second quarter. Revenue rose 30.8% to $20.7 million. Gross profit was $15.4 million and adjusted EBITDA was $1.5 million. General and administrative expenses decreased from 21% of sales in Q2 2018 to 16% of sales revenue. “We are excited to continue our tremendous sequential success with the second quarter of 2019 proving to be the largest sales revenue quarter in the history of our Company,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “As the world continues to become more receptive to learning about the benefits of hemp-derived CBD, we are enthusiastic about being at the forefront of the global cannabis industry which, according to Arcview Market Research, could be worth $57 billion by 2027.”


William SumnerWilliam SumnerAugust 15, 2019
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2min3780

Yesterday, Trulieve Cannabis Corp. (OTCMKTS: TCNNF) (CNSX: TRUL) announced the release of its second quarter financial results.

Year-over-year, Trulieve’s increased 149% from $23.3 million to $57.9 million. Keeping pace with revenue, operating expenses also rose from $6 million to 14.8 million, representing a 146% increase. Gross profit was $37.6 million, and the gross profit margin was 65%. Adjusted EBITDA was $31.6 million.

A considerable amount of the company’s growth was due to a rise in the number of medical cannabis patients in Florida, which increased by 19%. Driving patient growth was the introduction of cannabis flower to market, which accounted for 50% of total product sales in the state for the second quarter. As of June 30, 2019, there were 181,000 medical cannabis patients in Florida.

Quarterly Highlights

During the last quarter, Trulieve expanded its total cultivation capacity to 1.6 million square feet, completed its acquisition of The Healing Corner medical cannabis dispensary, closed a public debt offering of $70 million, and commenced trading on the OTCQX Best Market under the symbol TCNNF.

Additionally, the company’s founders extended a voluntary lock-up agreement of their 65,253,093 shares, or approximately 59% of shares outstanding on an as-converted basis, until July 2020.  Trulieve also closed its sale-leaseback transaction with Innovative Industrial Properties, Inc. to provide capital for its Holyoke, Massachusetts cultivation and processing site.

“Our strong financial results for the quarter combined with our operational and foundational evolution illustrates that Trulieve is not just a cannabis company, but an organization that possesses the key fundamentals expected of leading companies across all industries,” said Kim Rivers, CEO of Trulieve. “By continuing to focus on operational efficiencies, maintaining sound financial discipline, and leveraging our strong brand awareness and patient loyalty within current markets and in future expansion initiatives, we expect our efforts to translate to new strong results throughout the remainder of 2019.”


William SumnerWilliam SumnerAugust 15, 2019
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3min5320

Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) has reported its financial results for the second quarter, ending on June 30, 2019. Revenue rose from $19.2 million in the previous quarter to $26.6 million, representing an increase of 39%. If one were to include Harvest Health’s completed and pending acquisitions, quarterly revenue would be $78 million.

The gross profit was $16.9 million, and the gross profit margin was 64%. The company incurred a net loss of $20.6 million, which was attributed to “planned investments in people and infrastructure” meant to support growth initiatives and expansions. Harvest Health currently holds $89.9 million in cash and cash equivalents and has approximately $105.1 million in outstanding debt.

Quarterly Highlights

During the second quarter, Harvest Health opened three new retail locations in the state of Florida, closed its pending acquisition of Cannapharmacy, and was awarded a retail dispensary license in Pasadena, California. Following the close of the quarter, the company gained a cultivation license in Utah and opened six dispensaries in Arizona, California, Florida, and North Dakota.

Additionally, the company signed an agreement with the Asian American Trade Associations Council (AATAC) to distribute Harvest Health branded products to over 10,000 retail locations in the AATAC network.

Harvest Health also had some success in raising funds during the last quarter, having recently closed an initially $100 million tranche (out of $500 million) of convertible debentures, as well as signing a term sheet for a secured term loan for up to $225 million from an investment fund managed by Torian Capital.

“During the second quarter, Harvest continued to execute on its strategy by adhering to our four core initiatives: building a world class team, expanding our retail and wholesale footprint across the U.S., building and acquiring brands and distributing them across our footprint and continuing on a path of profitable growth we believe that we can fulfill our objective of becoming the most valuable cannabis company in the world,” said Harvest Health CEO Steve White.


William SumnerWilliam SumnerAugust 14, 2019
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6min3720

It’s time for your Daily Hit of cannabis financial news for August 14, 2019.

On the Site

Zenabis Global

Zenabis Global Inc. (TSX: ZENA) (OTC: ZBISF) reported that its second-quarter net revenue rose 78% to $25 million from last year’s $4.1 million for the period ending June 30, 2019. The company said that the results were achieved “despite being negatively impacted by temporary price reductions on inventory sold to provincial counterparties designed to help Zenabis to capture a larger share of the recreational cannabis market.”

Charlotte’s Web

Charlotte’s Web Holdings, Inc. (TSX: CWEB)(OTCQX: CWBHF), a producer of whole-plant CBD hemp extract products, reported its financial results for the second quarter ending June 30, 2019. The company’s revenue grew 45% to $25 million over last year’s $17.2 million for the same time period. The net income fell to $2.2 million from last year’s $3.7 million.

Who’s Really Buying CBD? And Why?

If you’re asking yourself who’s buying CBD products, just take a stroll to your local grocery store and mosey over to the vitamins and supplements section. Prepare to be overwhelmed by the thousands of nutraceutical “wellness” products filling the shelves – everything from melatonin chocolates for sleep-aid to echinacea for immune support – and yes, very recently products containing the compound that’s outshined Beyonce in popularity, CBD.

In Other News

Jushi Holdings

Today, Jushi Holdings Inc. released its financial results for the second quarter. Year-over-year, revenue for the quarter increased to approximately $200,000, and the gross profit was roughly $200,000. The net loss increased to $11.8 million, up considerably from $100,000 in the same period of the previous year. Despite low earnings and high losses, the company has a net working capital of $95.4 million, of which $86.7 million is in cash.

Sundial Growers

Sundial Growers Inc. (NADAQ: SNDL) has released their financial results for the second quarter. Gross revenue was $20.3 million. The net loss declined from $16.6 million in the first quarter to $12.4 million. Adjusted EBITDA was a loss of $500,000, up from a loss of $5.5 million. “Sundial accomplished great things this past quarter and our team’s solid execution across key areas of our business resulted in significant revenue growth,” said Torsten Kuenzlen, CEO of Sundial. “We are very confident in our go-to-market strategy, our strengthened balance sheet and our ability to execute upon organic growth opportunities.”

The Green Organic Dutchman

After the close of the market yesterday, The Green Organic Dutchman Holdings Ltd. (TSE: TGOD) reported their financial results for the second quarter. Revenue rose 20% over the previous quarter to $2.9 million. The net loss rose from $8.5 million in the previous year to $16.6 million.  “Q2 was pivotal for the Company as we began commercial production in the second phase of our Hamilton site and expanded our product line for the Grower’s Circle,” commented Brian Athaide, CEO of The Green Organic Dutchman.

Helix TCS

Today, Helix TCS, Inc. (OTCQB: HLIX), announced the release of its financial results for the second quarter. Quarterly revenue was $3.9 million. The gross profit was $1.9 million, with a gross margin of 49%. “We feel that we are still deeply undervalued due to our focus on execution as opposed to publicity, and are working to tell the simple truth of our constantly improving business and strong results,” said Helix TCS CEO and Executive Chairman, Zachary L. Venegas.

HempFusion

HempFusion, Inc. closed a brokered and non-brokered private placements of a total of 28,800,000 units of the Company at a price of US$1.25 per Unit for gross proceeds of US$36 million. The brokered portion of the Offering consisted of the sale of 26,227,650 Units for aggregate gross proceeds of US$32,784,563 and was completed by a syndicate of agents led by Canaccord Genuity Corp. and including Haywood Securities Inc. and PI Financial Corp. Due to demand, the Offering was upsized from US$20 million to US$36 million.


William SumnerWilliam SumnerAugust 8, 2019
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5min3570

It’s time for your Daily Hit of cannabis financial news for August 7, 2019.

On the Site

Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) reported financial results in Canadian dollars for the second quarter and first-half ending June 30, 2019, with net revenue climbing 202% to $10.2 million over last year’s $3.4 million. The revenue increased 58% sequentially from $6.5 million in the first quarter of 2019. The company attributed the increase to sales in CBD oil, which carries no excise tax reduction and increased sales of dry flower.

GrowGeneration

Today, GrowGeneration Corp. (OTCQX: GRWG) announced the release of the financial results for the fiscal quarter ending on June 30, 2019. Net revenue for the quarter was $19.48 million, up from $7.15 million in the same period of the previous year. The company attributes the increase in revenue to the addition of 14 new retail stores

SOL Global

SOL Global Investments (CSE: SOL)(OTCPK: SOLCF) is changing from an international cannabis investment company to a U.S. multi-state cannabis operator (MSO) under the Life Sciences category of the Canadian Securities Exchange. In addition to the business designation change, the company is also changing its name to Bluma Wellness.

In Other News

Diego Pellicer

Diego Pellicer Worldwide, Inc. (OTCQB: DPWW) announced that its Denver licensee reported record sales for the month of July and that its sales average has risen by 8.56%. “Diego Pellicer – Colorado has clearly proven that premium products plus outstanding customer service and a world-class shopping experience is a winning formula for success,” said Diego Pellicer CEO Ron Throgmartin.

Planet 13

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) announced that in July it served on average 1,937 customers per day with an average sale of $90.41 from the Planet 13 Las Vegas Cannabis Entertainment Complex. In May, the company accounted for roughly 10% of all cannabis sales in the state of Nevada, with a customer conversion rate of 60%. “We continue to drive impressive results from the SuperStore’s original 16,000 sq. ft. dispensary footprint in advance of the Phase II,” said Larry Scheffler, Co-CEO of Planet 13. “In May we reached an impressive milestone, the SuperStore accounted for 10% of all dispensary sales in Nevada. I’m optimistic we will see this trend continue once the department of taxation releases June and July numbers.”

C21 Investments

C21 Investments Inc. (CSE: CXXI) (OTC: CXXIF) released its unaudited financial results for the quarter ending on July 31, 2019. Unaudited revenue grew from $7.7 million to $9.8 million, representing a quarter-over-quarter increase of 27%. The unaudited gross margin rose from 43% to 49%. The company will release its certified financial results on or around September 12, 2019.

Cresco Labs

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) announced that it has received approval to acquire 100% 100% of the membership interests of Gloucester Street Capital, LLC, the parent company of Valley Agriceuticals (Valley AG). Valley AG is one of ten vertically integrated medical cannabis license holders in the state of New York. The license will give Cresco the right to operate one cultivation facility and four dispensaries in the state. The acquisition is expected to close by the end of the August.


William SumnerWilliam SumnerAugust 8, 2019
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3min2630

Today, GrowGeneration Corp. (OTCQX: GRWG) announced the release of the financial results for the fiscal quarter ending on June 30, 2019.

Net revenue for the quarter was $19.48 million, up from $7.15 million in the same period of the previous year. The company attributes the increase in revenue to the addition of 14 new retail stores, some of which were acquired or recently opened after April 1, 2018, as well as the launch of the company’s new e-commerce site. When combined, the new stores and the e-commerce platform contributed approximately $12.7 million in revenue. Gross profit also rose from $1.7 million to $5.8 million. As a percentage of sales, gross profit was 29.9%.

The cost of goods sold rose approximately 152%, from $5.4 million in the previous year to $13.7 million. The increase of costs was attributed to increased sales and the increase in the number of retail stores. Year-over-year, net income rose from a loss of $929,959 to a net positive of $1.06 million.

As of June 30, 2019, the company has approximately $17.9 million in cash and cash equivalents and a working capital of $29.6 milliom.

Operational Highlights

In the last quarter, the company appointed former Home Depot CEO Bob Nardelli as Senior Strategic Advisor and completed a $12.8 million financing round  led Gotham Green Partners, Merida Capital Partners and Navy Capital. GrowGeneration acquired six new retail locations in Denver, Colorado; Palm Springs, California; Reno, Nevada; and Manchester, New Hampshire. The company also opened new stores in Maine and Oklahoma.

“The Company’s second quarter financial results reflect our company’s continued focus on revenue growth and EBITDA expansion. We improved the financial performance of the Company in all areas.” said GrowGeneration Co-Founder and CEO, Darren Lampert. “The newly acquired stores and new store openings are all performing better than expected and have been successfully integrated into the operations of the overall company. The Company has nearly $18.0 million in cash, which will allow the Company to continue to grow at a rate of 100% year over year.”


William SumnerWilliam SumnerAugust 7, 2019
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6min2940

It’s time for your Daily Hit of cannabis financial news for August 7, 2019.

On the Site

LeafLink

Online cannabis wholesale marketplace, LeafLink announced the completion of a $35M Series B round of funding. The round was led by Thrive Capital. Current investors Nosara Capital, Lerer Hippeau, Wisdom VC, and Thought Into Action Ventures also participated in the round alongside L2 Ventures.

Columbia Care

Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) reported financial results for its second quarter ending June 30, 2019, with revenue increasing 102% to $19.3 million and 50% sequentially. The net losses grew to $33.7 million versus $4.2 million for the same time period in the previous year. The company blamed the losses on the “recognition of listing fee and share-based compensation expense, as well as higher operating expenses related to the company’s expansion in both new and existing markets.”

The Green Organic Dutchman

The Green Organic Dutchman Holdings Ltd. (TGOD)  (TSX: TGOD) (US: TGODF) has submitted an application to list its common shares on the NASDAQ according to a statement from the company. “This is an important step in the growth of TGOD, one that will broaden our investor base and increase access for international investors as we build the leading global organic cannabis brand”, commented Brian Athaide, CEO of TGOD.

Guest Post: The Legal Status of CBD Oil in Italy

The issue of legalisation of cannabis and its derived products has been under discussion for decades in Italy. However, with each passing year, the legal status of cannabis and CBD products only gets murkier.

In Other News

Pasha Brands

Pasha Brands Ltd. (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD) announced that it has secured eligibility from the Depository Trust Company (DTC) to list its shares on the OTC Markets. “We are very pleased to have obtained DTC eligibility,” said Patrick Brauckmann , Executive Chairman of Pasha Brands. “This status will make the process of trading our stock in the United States much easier. We expect that this will make our shares available to a larger percentage of the investment market, which should improve the liquidity of our shares and therefore benefit Pasha and our shareholders.”

GW Pharmaceuticals

After the market close yesterday, GW Pharmaceuticals (NASDAQ: GWPH) announced that it has released its financial results for the second quarter, ending on June 30, 2019. Revenue for the quarter was $72 million, the vast majority of which was generated from sales of CBD-based drug Epidiolex ($68.4 million). Net income was $79.7 million, up from a net loss of $84 million in the same period of the previous year. “We are pleased to report a strong second quarter of sales of Epidiolex in the US, reflecting high demand by US patients, increased prescribing by healthcare providers, and ongoing progress in payor coverage determinations,” said GW CEO Justin Gover. “In Europe, we are pleased to have recently received the positive opinion from the CHMP which clears the way for an expected approval in October.”

CV Sciences

CV Sciences, Inc. (OTCQB:CVSI) announced the release of its financial results for the second quarter, ending on June 30, 2019. Revenue for the quarter was $16.9 million, representing an increase of 36% over the same period in the previous year. The gross margin improved slightly, rising from 70.8% to 70.9%. Operating income was $1.3 million. “We remain highly confident in the long-term growth of hemp-based CBD and will continue to lead the industry in quality, innovation and both regulatory adherence and support as the market develops,” commented CV Sciences CEO Joseph Dowling.


William SumnerWilliam SumnerAugust 1, 2019
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5min3400

It’s time for your Daily Hit of cannabis financial news for August 1, 2019.

On the Site

Executive Spotlight: Jamie Warm, CEO and Co-Founder of Henry’s Original

Jamie Warm is the CEO and Co-Founder of Henry’s Original. Despite the young age of the legal industry, Jamie has only had one career: growing cannabis. At Henry’s Original,  his responsibilities include setting the overall strategic vision of the company, driving retail penetration and nurturing the financial health of the company.

Tribune Publishing Enters Agreement With The Fresh Toast For Cannabis News

The medical and recreational marijuana industry just received a major boost with consumers.   Like Walmart, Kroger, CVS, Amazon, and other retailers embrace CBD, now mainstream media is working to give consumers the knowledge on how to use and where to shop.   Tribune Publishing Co. (NASDAQ: TPCO), the owner of the Chicago Tribune, NY Daily News, Orlando Sentinel, South Florida’s Sun-Sentinel, Hartford Courant and more along with syndicating content to over 500 United States newspapers, has entered a partnership with The Fresh Toast, one of the largest cannabis media companies in the industry.

Nielsen Predicts Legal Cannabis Sales In The U.S. To Reach $41 Billion By 2025

Cannabis was featured in Nielsen Company’s Total Consumer Report 2019, with the data and information company predicting the sales of cannabis consumer packaged goods to rise 5x that 2018’s sales. They forecast that the sales of all legalized cannabis products in the U.S. could reach $41 billion by 2025.

In Other News

Aphria

Today, Aphria Inc. (TSX: APHA) (NYSE: APHA) announced their financial results for the fourth quarter, ending on May 31, 2019. Net revenue was C$128.6 million, up 75% from the previous quarter. Revenue from adult-use cannabis was C$18.5 million. Adjusted EBITDA from cannabis operations was C$1.9 million. The net loss was C$15.76 million.  “It’s a new day at Aphria. Our team’s solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter,” stated Irwin D. Simon. “Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term.”

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) today preannounced its unaudited revenue for the second quarter. Revenue is estimated to be between $26-$27 million, and between $75-$77 million when counting pending acquisitions of Falcon, Verano, CannaPharmacy and Devine Holdings and the closed acquisitions of Leaf Life and Urban Greenhouse. The company will release its full financial results on August 15, 2019.

Cadiz Inc.

Cadiz Inc. (NASDAQ: CDZI) announced that it has entered a joint venture partnership with Glass House Farms, which is a division of California Cannabis Enterprises. Operating under the name SoCal Hemp Co., up to 9,600 acres of hemp will be cultivated at Cadiz Ranch in San Bernardino County, California. “The sun-drenched, isolated natural environment at the Cadiz Ranch is ideal for the commercial production of organically sun-grown hemp and natural hemp-derived products, including CBD, which are presently driving market growth,” said Glass House Farms President Graham Farrar. “With plants already in the ground at the largest agricultural operation in San Bernardino County, we are working closely with the team at Cadiz to leverage our collective strengths. We look forward to bringing our full operation online and being a long-term, trusted partner and resource to the local community, our customers and clients.”


William SumnerWilliam SumnerJuly 31, 2019
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4min2330

It’s time for your Daily Hit of cannabis financial news for July 31, 2019.

On the Site

Brightfield Group Names Top 5 CBD Companies

The CBD industry is becoming much more saturated than it was before the passing of the U.S. Farm Bill late last year, with new products entering the market, threatening to take a slice of the CBD pie that the early producers of CBD have enjoyed until this time…Brightfield Group listed the Top 5 CBD Companies that the research group says “continue to make a name for themselves” within the growing CBD market. Here’s what we know about these various companies…

TILT Holdings

Following the market close and at the end of the evening on Tuesday, TILT Holdings Inc.  (CSE: TILT) (OTCQB: SVVTF) said that it refiled amended and restated management’s discussion and analysis for the quarters and year ended December 31, 2018, and for the three month period ended March 31, 2019, and 2018  (the YE 2018 MD&A and the Q1 2019 MD&A together.  The documents were prepared following a continuous disclosure review by the British Columbia Securities Commission of the company’s disclosure records.

CannTrust

Following the disastrous revelation that the company began growing cannabis plants in grow rooms without licenses, CannTrust Holdings Inc. (TSX: TRST)(NYSE: CTST) said that its special committee has retained Greenhill & Co. Canada Ltd. as the Special Committee’s financial advisor, to assist in a review of strategic alternatives. Those options include a sale of the company, a merger or changes to the company’s strategy. The interim CEO has said the talks are happening at only a conversation level at this time.

In Other News

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV,) (OTCQX: HRVSF) announced that it has entered a term sheet for a secure term loan of up to $225 million. The loan comes from an investment fund managed by Torian Capital Partners, and will be made available to Harvest in three tranches of $75 million. Harvest will use the proceeds from the loan to fund expansion initiatives. “Harvest is in a strong financial position in the cannabis industry and this growth capital, which we believe is provided at an attractive financing cost will enable us to deliver on our commitment to enhance shareholder value,” said Steve White, CEO of Harvest. “With greater financial flexibility, we are better equipped to execute our strategy to aggressively expand our retail and wholesale footprint across the U.S. into key markets, while seeking to build and acquire brands for broad distribution,” White concluded.



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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