Business Archives - Green Market Report

William SumnerWilliam SumnerJuly 19, 2018
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5min190

It’s time for your Daily Hit of cannabis financial news for July 19, 2018.

On the Site

2018 Cannabis Stock Activity Trending Toward A Canadian Exodus

U.S. companies running north of the border and IPOs are on the rise. Over the next year expect an increase of cannabis companies to start going public in Canada instead of the United States. Although the U.S. market has great potential in the long run, there are a lot of short-term advantages to going public in Canada.

The Green Organic Dutchman Pays Warrant Dividend In New Company

The Green Organic Dutchman Holdings Ltd. (TGODF) is distributing a dividend that will consist of a warrant in a new corporation called TGOD Acquisitions to its shareholders. The company will do just as the name says – acquire and develop worldwide opportunities.

Tilray’s NASDAQ Cannabis IPO Is Lit

On Wednesday, the Canadian-based cannabis cultivator, processor, and distributor, Tilray Inc. (TLRY), completed its initial public offering and shares of the company have already begun trade on the NASDAQ Global Select Market under the symbol “TLRY.”

In Other News

MPX Bioceutical Corporation

MPX Bioceutical Corporation (MPX) is staking its claim in California’s cannabis extract market. Today the company announced that it has entered into an agreement with Case Farms Collective, one of the largest cannabis extraction facilities in California. Under the agreement, Case Farms will provide cannabis processing services to MPX, according to specifications set down by MPX. Case Farms will also distribute MPX-branded cannabis concentrates among its network of licensed dispensaries in the state.

MariMed Inc.

MariMed Inc. (MRMD) announced today that Navy Capital Green Fund, the first Long/Short Public Equity Fund in the United States focused solely on the cannabis industry, has made a $2 million investment in the company. MariMed will use the money raised to growth projects, which includes a build-out of cannabis facilities in Massachusetts scheduled to open by the end of the year. “This placement by one of the top investment houses in cannabis demonstrates Navy Capital’s confidence in our strategic plan and our potential for asset and revenue growth,” said Robert Fireman, MariMed CEO, in a statement. “We’ve had 11 consecutive quarters of year over year revenue growth, and Navy Capital’s infusion will help further facility development and expand corporate infrastructure, in turn bolstering assets, increasing revenue, and delivering financial performance.”

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics, Inc. (EMH) announced that it has signed a definitive agreement with Abattis Bioceuticals Corp. (ATT) to acquire the remaining shares of Northern Vines Canada Inc. for $2 million in cash and $4 million in shares; giving Emerald Health 100% ownership of the company. Northern Vine is a Licensed Dealer (LD) under the provisions of the Canadian Controlled Drugs and Substances Act; which allows the company to import and export cannabis oils. “The acquisition of Northern Vine allows us to leverage its dealer license and research and development facility to advance our research plans to develop cannabis formulations supporting new products for both recreational purposes and to treat a broad spectrum of human conditions and diseases,” said Emerald Health CEO Chris Wagner in a statement. “The dealer license would also enable Emerald to cost effectively source non-dried-flower cannabis products from suppliers in other countries.”

 


William SumnerWilliam SumnerJuly 19, 2018
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3min380

On Wednesday, the Canadian-based cannabis cultivator, processor, and distributor, Tilray Inc. (TLRY), completed its initial public offering and shares of the company have already begun trade on the NASDAQ Global Select Market under the symbol “TLRY.” The shares were priced at $17, which was above the estimated range of $14-16. The stock also traded as high as $23 at one point for a 35% increase.

Tilray is offering 6,524,000 shares of Class 2 common stock in the United States and other select countries, excluding Canada, for a sum value of $110,908,000 USD. Another 2,476,000 shares of Class 2 common stock, which the company refers to as Subordinate Voting Shares, are being traded in Canada and other select countries, excluding the United States, at a price of $22.45 CAD per share; totaling to $55,586,200 CAD in value.

The combined value of both offerings totals to roughly $153 million USD. Tilray set out to raise $135 million.

BMO Capital Markets and Cowen are acting as joint book-runners for the IPO, with Cowen handling the U.S. IPO and BMO handling the IPO in Canada. Likewise, Eight Capital will act as lead manager for the Canadian IPO while Roth Capital Partner and Northland Capital Markets server as the lead manager and co-manager, respectively, for the U.S. IPO.

Additionally, Tilray has granted U.S. underwriters a 30-day over-allotment option to purchase up to 978,600 additional shares of Class 2 common stock and the Canadian underwriters a 30-day over-allotment option to purchase up to 371,400 additional Subordinate Voting Shares at the initial public offering price. The offering is expected to close on July 23, 2018.

Despite the number of shares issues, Privateer Holdings will remain the majority shareholder and primary owner of Tilray with 75 million Class 1 shares. As one of the first licensed medical cannabis producers in Canada, Tilray has already established a presence in 10 countries and will use the funds raised from this IPO to further increase its cultivation and processing capacity; as well as liquidity.

 

 


Debra BorchardtDebra BorchardtJuly 19, 2018
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3min430

The Green Organic Dutchman Holdings Ltd. (TGODF) is distributing a dividend that will consist of a warrant in a new corporation called TGOD Acquisitions to its shareholders. The company will do just as the name says – acquire and develop worldwide opportunities.

TGOD said that it had met with many cannabis companies around the world that didn’t quite fit with the company, but believes the properties would benefit their shareholders. The company said that it plans to execute a series of staged financings and acquisitions that would ultimately lead to a late 2018 target IPO date.

“This is an incredible opportunity for TGOD to transfer expertise and monetize our proprietary knowledge from the Canadian marketplace. We will partner with innovative and disruptive companies that we can assist with capital market knowledge and unique retail-exclusive financing methods. The intention is to raise additional capital and list TGOD Acquisitions on the Canadian Securities Exchange. We are excited about this unique opportunity to reward our investors and provide additional value to TGOD shareholders,” said TGOD CEO, Brian Athaide.

Once the spin-out is complete TGOD Acquisitions will operate separately from TGOD and will have its own Board of Directors and management.

Terms

According to a company statement, TGOD will distribute to its shareholders a Warrant to acquire a TGOD Acquisitions Unit for $0.50. Each Unit will consist of one share plus an additional warrant for the investor. This additional warrant (the “Additional Warrant”) will be triggered by a subsequent financing to occur following the initial $0.50 offering.

The distribution will be paid on the basis of one Warrant for every 6.67 TGOD shares owned on the record date, to be fixed by the Board of Directors of TGOD following satisfaction of the conditions for the Arrangement.

TGOD and TGOD Acquisitions will enter into a repayable funding agreement, whereby TGOD will provide $25,000,000 of working capital to TGOD Acquisitions. This will be repayable by TGOD Acquisitions prior to completion of any investment. In consideration for the funding agreement, TGOD Acquisitions will issue a restricted warrant to purchase 50 million common shares for a period of 25 years from the date upon which the shares of TGOD Acquisitions commence trading on the Canadian Securities Exchange.

“We have developed a significant amount of intrinsic value from years of corporate development at TGOD,” said Brian Athaide. “Capitalizing on these efforts will add value to both TGOD’s balance sheet and the investment portfolios of our shareholders,” continued Athaide.


StaffStaffJuly 19, 2018
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5min1460

Part 2 of 8 of the Cannabis Trends for 2018: U.S. companies run north of the border and IPOs are on the rise.

Over the next year expect an increase of cannabis companies to start going public in Canada instead of the United States. Although the U.S. market has great potential in the long run, there are a lot of short term advantages to going public in Canada.

The first, and most obvious reason, is that Canada has legalized recreational cannabis sales.

Sure, nine states have legalized recreational cannabis, but it’s still federally illegal. US cannabis companies continuously have to look over their shoulders, hoping that the federal government isn’t about to kick down their door and make their business close its doors for good. Not to mention the fact that the entire U.S. market still  operates as cash-only, with extremely limited access to banking services.

Put yourself in the position of a cannabis business owner: Would you rather operate in a market that has the *potential* of being more profitable but has no access to banking services and puts you at risk of being arrested? Or would you want to operate in a market that carries little legal risk and you can actually open a bank account? For many entrepreneurs, it’s a pretty simply choice.

One company that is not afraid to do business in both the United States and Canada is Sunniva. Headquartered in Calgary, Canada, Sunniva is on the fast track to becoming one of the first cannabis companies to be licensed in both Canada and California, which is one of the world’s largest cannabis markets.

Legality aside, there’s also the issue listing requirements in the U.S. Companies have to be meet very strict requirements in order to become listed on the New York Stock Exchange (NYSE) or NASDAQ. For example, in order to become listed on the NYSE you need to have publicly held securities that are valued at a minimum of $100 million. Likewise, companies hoping to go on NASDAQ need a pre-tax income of $11 million for an aggregate of three years.

Contrast that with the Canadian exchanges, where companies on the TSX only need a pre-tax income from the previous year totaling $300,000. Those are not the only requirements, of course, but from there you can get a pretty clear idea of how difficult it is to make it on the NYSE or NASDAQ compared to the CSE or TSX.

The vast majority of “cannabis companies” listed on the NYSE and NASDAQ are biopharmaceutical companies, like GW Pharmaceuticals, that aren’t primarily cannabis companies. The only two companies that are purely cannabis companies that are publicly listed in the United States is Cronos Group and Canopy Growth.

With fewer barriers and fewer risks, numerous companies that previously started as U.S. based companies have begun moving operations north of the border and are making preparations to go public. Some of those companies include Acreage Holdings, Dixie Brands Inc., and MJIC Inc.

In the short term, expect an exodus of cannabis companies either going public or completely moving their operations to Canada and expect them to stay there until the United States finally decides to tackle federal cannabis reform.


Debra BorchardtDebra BorchardtJuly 18, 2018
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5min430

It’s time for your Daily Hit of cannabis financial news for July 18, 2018.

On The Site

Emblem Corp.

Emblem Corp.  (EMMBF) is making a $3 million strategic equity investment into Canadian cannabis company Natura Naturals Inc. In addition to the investment, the two companies have also signed a three-year cannabis supply agreement for Natura to provide Emblem up to 3,000kg of high-quality cannabis flower per year from its Phase 1 cultivation facility. The deal is expected to close later this week.

Initial cannabis product deliveries to Emblem are expected to start in October 2018 with a total of 750kg deliverable for the balance of 2018.  According to the statement, the agreement increases Emblem’s total available cannabis by approximately 37.5% in 2018 and significantly accelerates Emblem’s product availability to coincide with the launch of the adult-use market in October 2018.

Leaf Wire

Leafwire, a Denver-based cannabis technology platform, announced today the beta launch of its online marketplace. The goal of its marketplace will be to connect investors and entrepreneurs in the cannabis space and to help enable a better exchange of information and opportunities within the industry.

The platform’s first offering will allow entrepreneurs to find investors that are interested in investing in the cannabis industry and vice versa.  Both investors and entrepreneurs will be able to create profiles that detail their investment preferences, experience, and current needs.

In Other News

AmeriCann, Inc.

AmeriCann, Inc. (ACAN)  has closed an all-equity financing offering with total proceeds of $3,819,000. The proceeds from the $3.00 per share equity financing will be used for construction at the Company’s Massachusetts Medical Cannabis Center development. AmeriCann is preparing to release the general contractor and project management team for the first phase of the MMCC development in the midst of the rapidly growing Massachusetts medical and adult-use cannabis market.

Nutritional High International Inc.

Nutritional High International Inc. (SPLIF) announced their entry into a Letter of Intent to acquire a 51% interest in Bright Green Lights LLC, a California company d/b/a as J:MEDS . J:MEDS produces high-quality cannabis-infused strain specific lozenges and sugar-free mints distributed across California. The company believes that its subsidiary Calyx Brands, Inc. can significantly ramp up sales of J:MEDS products. Having commenced operations in 2005, J:MEDS is a pioneer of “microdosed” infused products and is one of California’s longest operating and most respected edible companies.

Sugarmade, Inc.

Sugarmade, Inc. (SGMD) reiterated its $30 million revenue guidance for next fiscal year after filing results for fiscal Q2 2018. Additionally, the company is announcing today the termination of its culinary business line in order to increase emphasis on its hyper-growth market opportunities. Sugarmade continues on a strong growth trajectory, which is expected to allow the Company to produce revenue of at least $30 million for the fiscal year ending 2019, representing annual growth of over 500 percent. The aggressive growth rate is being driven by rapid expansion within the cannabis marketplace, in particular, the cannabis cultivation sub-sector, where a majority of the Company’s products are focused.

Namaste Technologies Inc.

Namaste Technologies Inc. (NXTTFsigned an e-commerce and technology services agreement with BlissCo Cannabis Corp Inc. whereby Namaste will provide services including access to Namaste’s technology platforms, software integrations and e-commerce services including those powered by Namaste’s e-commerce artificial intelligence (AI) platform, Findify.io.


Video StaffVideo StaffJuly 18, 2018

4min400

The Green Market Report Cannabis Company Index recovered following a challenging start to the year. After falling 21.9% in the first quarter, the Index on average gained 20% for the second quarter of 2018.

If you’ll recall at the beginning of the year, U.S Attorney General Jeff Sessions rescinded the Cole Memorandum and stocks responded accordingly with many investors taking profits gained in 2017. There was a great deal of fear that the Department of Justice (DOJ) would begin cracking down on the cannabis industry and shareholders wanted no part of that. As it turns out, the DOJ was more bark than bite and very little punitive action has taken place.

The second quarter began a slow climb back up the charts as shareholders began to return to the market comforted by the lack of movement by the DOJ. The quarter was significant for high profile IPO’s like MedMen Enterprises, The Green Organic Dutchman, and Green Thumb Industries. Adding to the excitement, the major stock exchanges in the U.S. opened their doors to Canadian cannabis companies. The NASDAQ welcomed Cronos Group and the New York Stock Exchange-listed Canopy Growth.

Canada’s final legislative approval for legalized adult-use marijuana in June was met with relief and it was capped off by Prime Minister Trudeau’s setting October 17, 2018, as the goal date for sales. Since so many Canadian cannabis companies have built business strategies around this market, it was encouraging to get a green light with a set date. Uncertainty is always unsettling and these final pieces to the legalization puzzle were finally put in place.

The medical market also received the expected good news for GW Pharmaceuticals from the FDA, which approved its cannabinoid drug Epidiolex. This drug will be used to treat rare forms of epilepsy called Dravet Syndrome and Lennox Gastaut. It uses real cannabis plants and is not a synthetic compound. The company had been achieving all of its drug trial study goals and there seemed to be no reason for the FDA to have turned the company down. So, even with positive expectations, getting the final word was heartening.

Still, the FDA made it clear that its approval did not change the scheduling status for cannabis and that the agency would send a recommendation to the DEA, but did not say what that recommendation would be. GW Pharma was more clear and adamantly stated that rescheduling would occur within 90 days.

This approval has many in the cannabis industry feeling that there will be some big moves for the rescheduling question as a result of the FDA’s approval. Even though there really is no guarantee of this happening, most feel that there is no turning back now for cannabis and a change in its classification is inevitable.

You can read the entire  Index Summary here.

 

 


William SumnerWilliam SumnerJuly 18, 2018
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3min990

Leafwire, a Denver-based cannabis technology platform, announced today the launch of its online marketplace. The goal of its marketplace will be to connect investors and entrepreneurs in the cannabis space and to help enable a better exchange of information and opportunities within the industry.

Although cannabis business owners secured more than $1.5 billion last year in investment, many in the industry still have difficulty to find the right investment partners; which is only worsened by the disconnect between state and federal cannabis laws.

“Legalization of cannabis opens up a huge opportunity, not only for cultivators and distributors but for the ancillary market that supports those companies,” said Leafwire CEO Peter Vogel. “Yet the investment community has been slower to support this industry than other emerging markets because of the lingering Federal regulations and existing stigma. That said, I have spoken to 100’s of investors who are looking for the right opportunities to explore in this market. Leafwire will help to connect those investors with the prospect that best meets their needs.”

The platform’s first offering will allow entrepreneurs to find investors that are interested in investing in the cannabis industry and vice versa.  Both investors and entrepreneurs will be able to create profiles that detail their investment preferences, experience, and current needs.

Entrepreneurs will be able to search for investors based on several filters; including the stage of investment, location, and preferred type of cannabis business. Likewise, investors will be able to search for cannabis businesses based on their size and fundraising stage, company location, and company type.

Company profiles will also allow entrepreneurs to list their company’s products and services, making it easier for investors to find the right partner.

In addition to connecting entrepreneurs and investors, Leafwire will also act as a hub for cannabis news, regulations, allow private messaging, and provide updates from members of the individual’s user network.

To celebrate its launch, Leafwire will hold an inaugural Pitch-a-Thon on July 19, 2018, in Denver, Colorado. The contest will include pitches from six up and coming cannabis companies seeking funding and will feature a cash prize for the winner. Judges for the event will consist of senior executives from Kush Bottles, Phyto Partners, New Frontier Data, Wana Brands, and Denver Relief. The company also plans on holding additional pitch events later this year in Miami and Southern California.


Debra BorchardtDebra BorchardtJuly 18, 2018
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4min570

Emblem Corp.  (EMMBF) is making a $3 million strategic equity investment into Canadian cannabis company Natura Naturals Inc. In addition to the investment, the two companies have also signed a three-year cannabis supply agreement for Natura to provide Emblem up to 3,000kg of high-quality cannabis flower per year from its Phase 1 cultivation facility. The deal is expected to close later this week.

“We are extremely excited about the opportunities that our new-found Emblem partnership holds for us. With our first commercial LP sale, the future growth, venture possibilities, and business transactions that lie ahead for Natura seem very promising,” said Ben Nikolaevsky, President, and CEO of Natura Naturals.

Initial cannabis product deliveries to Emblem are expected to start in October 2018 with a total of 750kg deliverable for the balance of 2018.  According to the statement, the agreement increases Emblem’s total available cannabis by approximately 37.5% in 2018 and significantly accelerates Emblem’s product availability to coincide with the launch of the adult-use market in October 2018.

“Our partnership with Natura quickly accelerates our time to market, with an immediate increase in product volume, supporting both our medical and adult-use demand,” said Nick Dean, President, and CEO of Emblem. “We have been very impressed with the Natura leadership team, their cultivation capabilities, and the quality of production they are achieving within their Phase 1 retrofit. Emblem has found a valuable partner in Natura and we are confident our relationship will continue to strengthen and grow as Natura completes Phase 2 of their retrofit, bringing online an additional 55,000 kgs of production in 2019.”

Terms

According to the company statement, Emblem will invest $3,000,000 in cash in Natura for 3,750,000 common shares of Natura and 3,750,000 common share purchase warrants exercisable at $1.05 for 24 months (subject to acceleration provisions). Post-closing, Emblem will own approximately 5% of Natura’s outstanding shares on a non-diluted basis, and 7% on a fully diluted basis.

Natura

Natura is based in Leamington, Ontario.  The first 155,000 square feet of the facility is currently being converted as part of its Phase 1 retrofit and is expected to be complete in August 2018 and capable of producing 15,000kg of cannabis per year. The Phase 2 conversion will retrofit the remaining 507,000 square feet for cannabis cultivation and is expected to bring total production capacity to approximately 70,000kg per year by mid-2019. Natura holds a genetic library of 32 cannabis strains, which will be made available to Emblem.


StaffStaffJuly 18, 2018
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16min6910

Part 1 of 8 2018 Cannabis Trends: Female leadership on the rise.

They say the future is female, and there are few places where that is more apparent than in the cannabis industry. Once thought of as a male-dominated industry, women have quickly claimed their place as leaders in this burgeoning industry.

According to Marijuana Business Daily, women make up approximately 27% of C-Suite level positions in the cannabis industry, which doesn’t sound like much until you realize that the national average is only 23%. What is unsettling, is that in 2015 women held 36% of executive control. That is almost a 10% loss of leadership positioning in less than 3 years.

As the market matures, and continues to begin attracting more institutional capital, female entrepreneurs will have to work at keeping the industry a level playing field. And collectively, that is what the trends reveal that they are doing.

For women in cannabis, it has become a badge of honor to know that within their new burgeoning industry ready to take the globe by storm, they hold the largest percentage of ownership, management and control of any industry in the world for their gender. Therefore upon recognition of the possibility of losing that title, the women have begun to band together and work toward the goal of making cannabis the first industry in the world to achieve 50% female control.

When you drill down into specific segments of the cannabis industry, you start to see even more women in leadership positions.

For example, among cannabis dispensaries, women make up approximately 35% C-Suite level positions. That number rises even higher for ancillary cannabis brands, of which women comprise approximately 42% of executive level positions. Canadian medical cannabis company Tilray has the first female majority board of directors in the industry.

But the board room is not the only place in the cannabis industry where women are shining. Over the last few years, there has been a groundswell in the number of cannabis industry organizations made for and by women.

Perhaps the most well-known industry group for women in the cannabis industry is Women Grow. Founded in 2014 by cannabis personality Jane West, the group’s original goal was to help make the cannabis industry the first women-led billion dollar industry.

When initially launched, Women Grow was massively successful and soon dozens of chapters began sprouting up all across the country. But in recent years the organization has run into trouble; chapters have been closing and key leaders have left. Women Grow is currently in a transitional period. Hopes for a healthy, strong future have become possible for the organization with a new leadership team in place. However, the obstacles that Women Grow have faced has not stopped others from stepping in and helping to fill the void.

There are credible organizations that were created to help women in the cannabis industry in a general capacity, such as Ellementa, and Industry Power Women (IPW), that specifically bridge the gap between female entrepreneurs and the resources they require to succeed in business. Other organizations have been created to specifically help women of color, like Supernova Women and Women Abuv Ground.

In addition, women have come together and organized their efforts, creating groups that promote support, collaboration and solidarity. These networks are being forged through platforms like Facebook. The most popular one, Women Entrepreneurs in Cannabis, spearheaded by Kadin Academy and the creator of Cannabiz Connection, provides an exclusive environment for industry-specific discussions. Members of the network are approved for inclusion based on a set of criteria intended to keep the group focused and beneficial to women in cannabis business.

IPW has developed a multi-media production series in partnership with Benzinga and DCN Media titled the “Wonder Women of Weed.” This series highlights the most accomplished and exceptional women in the cannabis industry, and has been featured on Yahoo Finance, Entrepreneur, CNN Money and other mass media outlets. Furthermore, Entrepreneur Magazine’s new cannabis focused publication, Green Entrepreneur, now has a regular column titled “Women In Green.”

Conferences and events geared specifically towards connecting and advancing a sense of camaraderie among women in the cannabis industry have increased significantly since the beginning of 2018. Workshops such as those conducted by the Cannabis Women’s Empowerment Society are frequently conducted to help women navigate operation of all aspects in running a cannabis business.

Newer groups such as High Times Women’s Council of High Times Magazine host their popular Women of Weed event series. MJ Lifestyle Magazine, IPW and even the investor network Arcview Group are now hosting regular brunches centered specifically around women.  

On the consumer side of the cannabis industry, women are also starting to take center stage. One survey by the Cannabis Consumers Coalition found that 53% of respondents were women, compared to 42% for men. Although the survey did not provide a complete snapshot of cannabis, it nonetheless underscores the growing importance of women as cannabis consumers.

This growing importance has also given rise to an explosion of women-centered cannabis brands. A great example is Garden Society, which offers low-dose, high-end edible cannabis products for women. There are also brands like Treat Yourself, Moxie Meds, Kikoko, Quim Rock, Mary Jane’s Medicinals, Strain Print, Baked at Home, and the list goes on. Perhaps the most famous cannabis brand for women is Whoopi Goldberg’s line of medical cannabis products designed to help provide relief from menstrual discomfort, Whoopi & Maya.

Not only are there a growing number of women-oriented cannabis brands, there’s also a huge uptick in the number of investment opportunities for women. Since its founding in 2011, Pipeline Angels has helped more than 50 female-owned companies raise more than $5 million. Other services, like Ellevest, help provide the tools and assistance for women to become the investors themselves.

Recognizing the increased power of women investors, some sites have even taken to aggregating women-centered investing resources; such as 37 Angels and Crunchbase.

According to Forbes, fewer than 6% of decision-makers at venture capital firms in the United States are women. In 2016, while male entrepreneurs received more than $58 billion in funding, female entrepreneurs received 1.46 billion, approximately 2.5% of what men received.

Within the cannabis industry, female investors such as Emily Paxhia, Tahira Rehmatullah and Vivien Azar lead the way in financing the best deals the space has to offer, while providing special attention to promising female entrepreneurs. Lori Ferrara, Gaynell Rogers and Lindy Snider have come together to form a fund specifically targeting women owned and operated cannabis businesses called Treehouse Global Ventures.

In the short-term, expect to see women take charge and become drivers in the cannabis industry. This is a trend that you can see in almost every aspect of the economy, but its presence is felt most in the cannabis space where there are fewer entrenched interests than in other industries. The long-term projection for women in the cannabis industry is more or less the same as the short term. Women will continue to grow their power and influence in the cannabis industry and will most likely achieve greater equality than in other sectors of the economy.  

You can download the 2018 Cannabis Trend Report for free by clicking here.


Debra BorchardtDebra BorchardtJuly 17, 2018
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7min790

It’s time for your Daily Hit of cannabis financial news for July 17, 2018.

On The Site

Aphria Inc. (APHQF) is acquiring Scythian Biosciences Corp. (SCCYF) Latin American and Caribbean assets in a deal valued at $193 million. The acquisition will allow Aphria to quickly expand into Columbia, Argentina, and Jamaica. It will also give Aphria first offer and refusal for Brazil.

The statement from Scythian read, “Aphria will issue C$193 million in shares to Scythian and assume USD $1 million in aggregate liabilities of the Target Corporations owing to Scythian resulting in Scythian having well over $ 200 million in cash and marketable securities on hand. The transaction will have Aphria acquire 100% of the outstanding shares of LATAM Holdings, which is the wholly-owned subsidiary of Scythian.

In Other News

Medicine Man Technologies Inc.

Medicine Man Technologies Inc. (MDCL)  announced an exclusive licensing agreement with Canada House Wellness Group Inc. (CSE: CHV), through its wholly-owned subsidiary Abba Medix Corp., for deployment of its intellectual property and product lines (Three a Light™, Success Nutrients™, General Intellectual Property) into the Canadian marketplace. The licensing agreement calls for an initial payment of $4.65M (CAD) in the form of cash and stock for licensing of Medicine Man Technologies’ intellectual property, product lines, and assignment of an existing Cultivation MAX agreement to Canada House.

Khiron Life Sciences Corp.

Khiron Life Sciences Corp. (KHRN), a Canadian integrated medical cannabis company with its core operations in Colombia, announced today that it has appointed former President of Mexico Mr. Vicente Fox Quesada to its board of directors, effective immediately. Mr. Fox will be a strategic advisor and brand ambassador for the Company, furthering the Company’s education and brand leadership interests across Latin America. From December 2000 to November 2006, Mr. Fox was the 55th President of Mexico. Prior to that, he was the Chief Executive Officer of Coca-Cola Latin America. Mr. Fox was also recently named to the board at High Times Magazine.

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman (TGODF) announced, in conjunction with Epican Medicinals, the successful opening of its first legal cannabis retail store in Jamaica, on Saturday, July 14th. This flagship location provides Epican and TGOD with immediate revenue from the sale of premium Jamaican grown organic cannabis and further exemplifies TGOD’s value-added approach to partnerships.

MedMen Enterprises

MedMen (MMNFF) named marketing industry veteran David H. Dancer as the chief marketing officer. With more than 25 years of experience connecting brands with consumers such as American Express, Visa, and Teleflora, Dancer will play an instrumental role in MedMen’s forward-looking expanded retail footprint in North America and the continued effort to build consumer credibility in a largely misunderstood new consumer category.

CV Sciences, Inc.

CV Sciences, Inc. (CVSI) announced that its flagship brand, PlusCBD Oil,™ continues to expand its distribution in the natural, healthy, and organic industry.  The Company today announced that its brand of #1 selling hemp CBD products (according to SPINS® scan data) are currently available in 1968 natural and organic health food stores as of June 30, 2018.  This represents an 11.1% sequential increase over the Company’s retail store count as of March 31, 2018.

Veritas Pharma Inc. 

Veritas Pharma Inc. (VRTHF) signed an Intellectual Property Sharing Agreement with Sativa Investments PLC (NEX:SATI), UK’s first medicinal cannabis investment fund. Veritas through its subsidiary company, Cannevert Therapeutics Ltd., will apply its pharmacological methods on cannabis strain lead selection to assist Sativa’s application to the UK Home Office Drugs Licensing and Compliance Unit for a medicinal cannabis growing license.



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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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