Business Archives - Green Market Report

StaffJuly 30, 2021
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4min2170

Dr. Joseph Tucker is a seasoned executive who has built several publicly traded biotechnology companies. Dr. Tucker was a founder and Chief Executive Officer of Stem Cell Therapeutics, which he took public on the TSX (TSX: SSS). Trillium Therapeutics (NASDAQ: TRIL, TSX: TRIL) acquired Stem Cell Therapeutics in 2013. Dr. Tucker has also held the position of Co-Founder and Chief Executive Officer of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Biosciences Inc. (TSX: WLLW). At Willow, Dr. Tucker served as Executive Chairman and Chief Operating Officer. Prior to founding companies, Dr. Tucker was a healthcare analyst with two investment banks and has also worked in technology commercialization for a university technology transfer office. Dr. Tucker received his Ph.D. in Biochemistry and Molecular Biology from the University of Calgary.

GMR Executive Spotlight Interview Q&A:

Full Name:  Joseph Tucker

Title:  CEO

Company:  MagicMed Industries Inc.

Years at current company: 1 – since inception

Most successful professional accomplishment before psychedelics:  I founded and took public both Stem Cell Therapeutics (TSX:SSS, now NASDAQ:TRIL) and Epimeron Inc. (now TSX:WLLW, Willow Biosciences).

Company Mission:  To unlock the full potential of psychedelic-derived medicines for the treatment of neurological and psychological indications.

Company’s most successful achievement:  Within one year of the founding of MagicMed (May 2020), we raised $10M, filed 15 patent applications, created the PsybraryTM and PsyAITM, and entered into a definitive agreement to merge into Enveric Biosciences (NASDAQ: ENVB) in an all stock transaction.   

Has the company raised any capital (yes or no): Yes

if so, how much?:  $10M 

Any plans on raising capital in the future?  Yes.  The merger with Enveric Biosciences (NASDAQ:ENVB) enables us to take our best new psychedelic drug candidates through clinical trials ourselves.  This will require further capital raising, which will be facilitated through our NASDAQ listing.  Two investment banks have launched coverage already.

Most important company 5 year goal:  We intend to build and advance through clinical trials a robust pipeline of drug candidates to meet numerous critical unmet medical needs. We expect to have a portfolio of approximately five separate new drug candidates advancing through varying stages of clinical development within 5 years.


Debra BorchardtJuly 30, 2021
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3min2390

Greenlane Holdings, Inc.  (Nasdaq: GNLN) announced preliminary financial results for its second-quarter ending June 30, 2021, but gave little detail. Greenlane said it had net sales of $34.5 million and that the gross margins were between 21% and 22%. Greenlane delivered $34 million in revenue for the first quarter of 2021 making the sequential growth to be basically flat. The total cash balance is roughly $11.5 million.

However, the company recalled its March proforma outlook for the calendar year ending in December. Greenlane blamed headwinds created by uncertainty in its supply chain and lingering impacts of Covid-19. The company said it expects to reestablish a pro forma outlook at a later date. In March, Greenlane had suggested that the combined company would have “pro forma revenue of over $250 million for the year ended December 31, 2020, and a pro forma market capitalization in excess of $350 million based on the respective share prices of Greenlane and KushCo (OTC: KSHB) as of market close on March 30, 2021. Following completion of the Transaction, the combined company is expected to generate pro forma revenue of between $310 million and $330 million for the year ended December 31, 2021.”

Greenlane also said it continues to expect the proposed merger with KushCo Holdings will close in the third quarter of 2021, subject to the satisfaction or waiver of all remaining conditions in the agreement, including the receipt of all necessary approvals.

KushCo recently reported its earnings on July 8 where the company said it had revenue of $28.3 million, or 27% year-over-year growth, in fiscal Q3 2021, driven by increased sales to the company’s top 25 customers, including leading multi-state operators (“MSOs”) and licensed producers (“LPs”). SG&A expenses were approximately $9.1 million, compared to $12.7 million in the prior-year period. The decrease was primarily driven by reductions in headcount, bad debt expense, consulting spend, and stock compensation expenses, largely as a result of the COVID-19 pandemic and the Company’s implementation of the 2020 Plan.

At the time, Nick Kovacevich, KushCo’s Co-founder, Chairman and Chief Executive Officer said, “”Our gross margins for fiscal Q3 continued to reflect the uncontrollable shipping delays we, and other importers of goods, have been experiencing for the past couple of quarters. Even though the situation has somewhat improved since the end of 2020-where there were record-breaking shipments during the holiday season, severe COVID-19-related restrictions at domestic ports and a global shortage of containers-a significant percentage of all products coming from overseas continue to experience delays, resulting in higher freight costs across the board. In addition, we experienced lower direct material margins on several of our products, as we cycle through higher-priced inventory and continue to work with our vendors to obtain more favorable pricing.”


Video StaffJuly 30, 2021

2min2360

This is Psychedellux – the week’s top business headlines for the psychedelics industry.

Field Trip Health Ltd. (OTCQX: FTRPF) has received final approval from The NASDAQ Stock Market to list its common shares on the NASDAQ Global Select Market. The Company’s shares will begin trading at market open on Thursday, July 29, 2021 with the ticker symbol FTRP.

Awakn Life Sciences Corp. (NEO: AWKN) (OTC Pink: AWKNF), a biotechnology company with clinical operations developing and delivering psychedelic medicines to better treat addiction, today announced approval from the Financial Regulatory Authority for its shares to commence trading on the OTC Market in the United States under the symbol “AWKNF” effective today, July 26, 2021. Awakn will continue to trade on the NEO Exchange under its existing symbol “AWKN”.

Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) announced the pricing of its previously announced overnight marketed offering that raised total gross proceeds of $30 million. The company also received approval for the listing of its common shares on the NYSE. Cybin expects its common shares will open for trading on the NYSE on or about August 5, 2021, under the symbol “CYBN”.


Video StaffJuly 30, 2021

5min3340

Earnings season is just getting underway as July winds down.

It was a big week for Turning Point Brands, Inc. (NYSE: TPB) who reported with sales increasing 16.8% to $122.6 million in the second quarter. The average analyst estimate for revenues was $106 million according to Yahoo Finance. Net income increased by 49.2% to $15.4 million. The company also announced it was buying the cigarillo company Unitabac. Cigarillos are typically short, narrow cigars so maybe the company is planning on offering baby blunts in the future.

 Verano Holdings Corp. (CSE: VRNO) (OTCQX:  VRNOF) is buying WSCC, Inc., also known as Sierra  Well. This will add two operational dispensaries and an active cultivation and production facility in Nevada along with two real estate properties in Carson City and Reno. The acquisition is a cash and stock deal valued at $29 million. 

Tilray, Inc. (Nasdaq: TLRY) reported its net revenue increased 25% to $142.2 million in the fourth quarter. Cowen & Co. had estimated revenue to be $163 million for the quarter making this a fairly large earnings miss. Investors though seemed pleased with the results as the stock was trading higher by over 10% in early trading

Red White & Bloom Brands Inc. (OTCQX: RWBYF) delivered its first-quarter financial results as revenue fell to $11.8 million from the fourth quarter’s revenue of $15.7 million. The company blamed the decrease on the manner in which it recognizes revenue under IFRS in the state of Michigan for its Platinum Vape branded product sales and the strengthening Canadian dollar over the fourth quarter.

Cannara Biotech Inc. (OTCQB: LOVFF) announced its third-quarter results with total revenue of $7.2 million, including $5.9 million in cannabis sales, net of excise tax. this was a huge gain over last year’s $763,906.

And finally, Seth Rogen’s cannabis company Houseplant and Canopy Growth Corporation (NASDAQ: CGC) have decided to end their relationship after three years. It won’t affect the company’s U.S. business and the product is expected to remain on some shelves through September 2021

 


Debra BorchardtJuly 29, 2021
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9min4720

Delta-8 and smokable flower are the two products keeping hemp framers alive. The regulatory loophole that has allowed Delta-8 to be sold legally is also causing legal confusion. Delta-8 is a cannabis product that can be derived from hemp, but still give the consumer a light psychotropic experience. Some states have issued restrictions around the product, while others haven’t addressed it at all. Either way, the demand has been a blessing to hemp farmers who planted lots of acres in 2019 expecting a surge in CBD products, only to see the market contract and prices plummet. 

Hemp Benchmarks reported that after rising 4%in May, the average per-kilogram price for delta-8 THC distillate fell 1% in June to $1,215. “Notably, both the low and high ends of observed transaction data – $900 and $1,650 per kilogram – were up compared to May.”

In Georgia, Reginald Reese of Green Toad Hemp Farm told Hemp Benchmarks that delta-8 THC was here to stay. “The beauty of it is, Georgia refused the [delta-8] ban,” he said. “We have the right as licensed hemp growers to use every part of that hemp.” Reese also told Hemp Benchmark that he believes efforts to ban delta-8 THC are part of a “full-court press” from the businesses participating in licensed, state-legal marijuana industries, which do not want the competition. 

Smokable Flower Grows

The other product that has been welcomed by the farmers is smokable flower. The Benchmark reported that as of June 2021, the number of square feet registered for indoor or greenhouse hemp production – which is typically for the purpose of producing smokable CBD flower – is up significantly relative to last year. “Hemp Benchmarks has documented over 168.2 million square feet registered for indoor or greenhouse production. This figure is up 328% compared to over 39.5 million square feet recorded in June 2020 and up 85% from over 90.8 million square feet ultimately documented by the end of last year.”

It seems farmers are leaving the outdoor growing and focusing on indoor growing in order to fulfill smokable flower demand. The Benchmark report documented that smokable CBD Flower has maintained its value in the U.S. hemp wholesale market better than perhaps any other hemp-CBD product. “Flower grown indoors or in greenhouses also typically commands a premium price compared to that cultivated outdoors.”

The Benchmark report said that smokable CBD Flower saw its average price decline in June after cresting above $300 per pound in May. “Despite some reports of still-stagnant demand for CBG, the price for smokable CBG Flower rose 15% in June to average $326 per pound, exceeding the price for its CBD counterpart. The significant increase in the assessed price for CBG Flower this month follows an over 50% jump observed in May.” This shift away from biomass and towards flower farming could potentially stabilize the biomass market. A reduction in supply could help wholesale prices. 

Grasshoppers?

The problems affecting hemp crops this season could end up helping reduce the glut of hemp inventory. Excessive heat and drought in the western part of the U.S. have affected hemp farmers. Wildfire threats and water reductions have also conspired to challenge hemp farmers. And if that wasn’t bad enough – it seems grasshoppers love warm, dry weather. 

Last year, farmers fought grasshopper infestations and it looks like this year conditions are ripe for an even bigger outbreak. The Hemp Benchmarks June report noted that the U.S. Department of Agriculture is said to be taking steps to mitigate damage to crops and rangelands by spraying pesticides in areas where infestations are likely to occur, including roughly 3,000 square miles of Montana, which is home to significant hemp production, primarily for grain. 

Less Hemp Acreage

Hemp Benchmarks reported that there is less hemp being grown as farmers head into the 2021 season. Several reasons have caused the less than stellar outlook for the market. A glut of biomass and CBD caused a plunge in prices reducing the profitability of the crop. Farming more mainstream products have become a better investment. The hemp market has also been affected by a lack of regulatory guidance has also caused farmers to back off from planting more acreage. 

Hemp Benchmarks said it has documented the following hemp production licensing and acreage data for 2021: 

  • 8,298 licenses issued (down 8% from 9,066 counted in June 2020; down 58% from 19,799 ultimately documented for 2020); 
  • 107,702 acres registered for outdoor production (down 55% compared to 236,732 acres documented in June 2020; down 75% from 429,300 ultimately documented for 2020).

CBD Collapse

It seemed that almost every product on the retail shelves had some form of CBD in it. Food, beauty products and supplements popped up on every retail counter. The future looked bright for hemp farmers, but the demand didn’t follow at the expected levels. Thousands of CBD companies sprang up overnight and the flood of products created a confusing and competitive landscape. 

A new Brightfield Group report says that the CBD industry has lost more than 1,000 players in the past 12 months—some through corporate consolidation and others to bankruptcy. Hemp Benchmarks also quoted farmers who said that there was a lot of low-priced inventory on the market due to bankrupt companies. Earlier this year the Phoenix Business Journal reported. that Integrated AG, the parent company of Integrated CBD, filed for Chapter 11 bankruptcy protection on Jan. 20 and disclosed over $20 million in outstanding debt. 

Despite all the negative news, last month California-based Kadenwood, a privately held CBD consumer packaged goods company, completed a $30 million cash Series B capital raise. The company said it will use the money to buy advertising and acquire more companies. Kadenwood said the raise also includes a $20 million media campaign to raise brand awareness, bringing the total value to $50 million.


Kaitlin DomangueJuly 29, 2021
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9min4010

Smoking cigarettes indoors has been shown to reduce a home’s resale value by up to 29%, says Realtor.com. When it comes to buying a cannabis enthusiast’s home, the resale value research is less clear, though 30% of realtors say they have struggled to sell a house where cannabis was grown. A recent study conducted by the National Association of Realtors said 50% of leasing professionals found it wasn’t hard to re-lease a property after tenants smoked cannabis indoors, and the organization “does not have a position on cannabis legalization.”

Legal cannabis raises home value

There’s been a lot of chatter surrounding cannabis and the real estate market. But, what kind of impact do cannabis operations have on property value by simply just existing in the same town or city as your house? According to research by real estate data company, Clever, property values rose by $17,113 more in states where recreational cannabis is legal, compared to states where it’s illegal or just legal at the medicinal level. Not to mention, millions of dollars in tax revenue created. In 2021, average home values increase by $470 for every $1 million increase in overall tax revenue from cannabis. 

Clever combined data from Zillow, the U.S. Census, and other resources to produce their report. 

New businesses, tourism, and jobs all contribute to the increase

When it comes to answering the “why”, that’s a little more complex. According to Clever, there’s a variety of reasons why property values are increasing as cannabis legalization takes place. “Numerous factors determine home values, including the home’s features and condition, the area’s amenities, and local crime rates. Legalizing marijuana can impact each of these criteria in ways that are both predictable and surprising — particularly by creating fresh demand for housing, new businesses, and tourism,” says the report. 

We often look to Colorado as a model representing cannabis’ potential in different states. Legalization brought Colorado a wave of new business, and the crime rate also dropped. Also, hotel revenue rose by $130 million in the first year after Colorado legalized, according to a study conducted by Penn State

Key Findings

  • Home values increased by $6,338 from 2017 to 2019 in states where cannabis is legal in some form, compared to states that haven’t legalized at all
  • On average, home values increase by $470 for every $1 million increase in tax revenue
    • Eight states reported a full year of tax revenue generated from cannabis sales in 2020, totaling $2.3. $1 billion of that being California sales alone. 
    • The seven states (plus D.C.) who haven’t yet sold a year’s worth of legal cannabis are predicted to collect $601 million in new annual tax revenue.
  • Home values are predicted to increase by an average of $61,343 in states that have legalized recreational cannabis, but sales aren’t yet taking place.  
    • California has seen the biggest increase in home values, up by $128,341 since 2017, among states that have legalized at the recreational level
  • Cities with more dispensaries are positively correlated with higher home values, suggesting legalization boosts jobs and economic growth.
    • In cities with recreational dispensaries, home values increased by $22,090, compared to states where recreational cannabis is legal but not yet being sold in retail locations
    • Property values increase by $519 with each new dispensary a city adds

According to Clever’s future predictions, home values will increase by more than $60,000 on average.

Looking at tax revenue

When it comes to tax revenue, where does it all go? Different states allocate their tax revenue towards different things, but according to a report by Urban Institute, education programs (including community colleges and pre-K schools) are the most likely to benefit. 

Oregon, for example, donates 40% of its tax revenue to the state’s school fund, accumulating $180,252,103 between 2017 and 2021. Arizona recently legalized cannabis for recreational consumption, and they plan to follow suit by donating 33% of their tax revenue to the state’s community colleges. 

Other states use their tax revenue for different things, like Washington, where the tax revenue goes towards a healthcare trust account to provide basic healthcare services to people without insurance. Ranked from most to least common, here’s how different states use their cannabis tax revenue: 

  • Education programs
  • Substance abuse education and treatment programs
  • Reparations for those negatively affected by the War on Drugs/criminal justice reform
  • General funds
  • Transfers to local governments
  • Administrative costs of initiating new laws
  • Public health and safety programs
  • Law enforcement, crime reduction, and fire departments
  • Transportation and infrastructure
  • Programs for conservation
  • Programs for veterans

Cannabis’ impact on local communities

This is just another piece of evidence supporting cannabis’ positive impact on local and state economies. According to Leafly, the legal cannabis industry supports 321,000 full-time jobs across the United States, adding 77,300 of those last year. Not to mention the tax revenue generated from legal cannabis sales. Criminal justice reform, education, substance abuse treatment, and local governments all benefit from the new source of revenue. 

As the cannabis industry continues to grow, we see it positively affects more than just consumers. 


StaffJuly 28, 2021
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7min4070

It’s time for your Daily Hit of cannabis financial news for July 28, 2021.

On The Site

Tilray

Tilray, Inc. (Nasdaq: TLRY) reported financial results for the full fiscal year and fourth quarter ending May 31, 2021. In the fourth quarter, net revenue increased 25% to $142.2 million from $113.5 million for the same time period last year. Cowen & Co. had estimated revenue to be $163 million for the quarter making this a fairly large earnings miss. Investors though seemed pleased with the results as the stock was trading higher by over 10% in early trading to lately sell at $14. Cowen’s price target is $23.

Canopy

Seth Rogen’s cannabis company Houseplant and Canopy Growth Corporation (NASDAQ: CGC) have decided to end their relationship after three years. It won’t affect the company’s U.S. business and the product is expected to remain on some shelves through September 2021. The relationship between Houseplant and Canopy started in 2018, well ahead of Canadian legalization. The Canadian cannabis market has evolved substantially since those days, and the parties believe the time is right for the Houseplant brand to develop independently while Canopy advances its focus on wholly-owned brands for the Canadian market.

IM Cannabis

IM Cannabis Corp. (NASDAQ: IMCC) is buying R.A. Yarok Pharm Ltd. also called Pharm Yarok, Rosen High Way Ltd., and High Way Shinua. Ltd. by IMC Holdings Ltd., a wholly-owned Israeli subsidiary. The deal is valued at C$4.6 million. The acquisition is expected to integrate assets that include a license to sell medical cannabis to patients (including the ability to sell online), a large customer service center, a virtual store, and online properties, intellectual property, a logistics, and warehousing center with specialized storage space for over 350 kg of medical cannabis as well as a large customer base.  IMC said it expects to be able to consolidate the financial results of Pharm Yarok, Rosen High Way, and HW Shinua as of the date of executing the definitive share purchase agreements and prior to Closing.

Cannara

Cannara Biotech Inc. (OTCQB: LOVFF) announced its third-quarter results for the period ending May 31, 2021, with total revenue of $7.2 million, including $5.9 million in cannabis sales, net of excise tax. this was a huge gain over last year’s $763,906. The net income for the company was $1.7 million versus last year’s net loss of $2.5 million.

GrowGen

GrowGeneration Corp. (NASDAQ: GRWG ) is at it again and the latest acquisition is HGS Hydro, the nation’s third-largest chain of hydroponic garden centers, with six stores across Michigan and a seventh store slated to open in the fall of 2021. This transaction is expected to close before the end of the fiscal year-end 2021. Founded in 2015 by Rocky Shaeena, HGS Hydro is the largest chain of hydroponic garden centers in the state of Michigan and generated approximately $50 million in revenue in 2020.

In Other News

Field Trip

Field Trip Health Ltd. (OTCQX: FTRPF) has received final approval from The NASDAQ Stock Market to list its common shares on the NASDAQ Global Select Market. The Company’s shares will begin trading at market open on Thursday, July 29, 2021 with the ticker symbol FTRP. Hannan Fleiman, Field Trip’s President, said “Listing on the Nasdaq Global Select Market, NASDAQ’s top tier, is a mark of achievement and stature for listed companies who must meet the highest the highest financial and liquidity qualifications for inclusion.”

Cybin

Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) announced the pricing of its previously announced overnight marketed offering of an aggregate of 8,824,000 common shares in the capital of the company at a price of $3.40 per share for total gross proceeds of $30,001,600.


StaffJuly 28, 2021
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6min4280

Prior to being appointed CTO of Akerna, David McCullough served as Akerna’s Executive Vice President of Product & Engineering, overseeing all software development, development operations, quality assurance, automations, systems, and security operations. He has 16 years of Software Engineering experience. Before joining Akerna, he was the CTO of StudentPublishing.com, where he actively managed the technical aspects of Student Publishing’s sale to and systems integration with lulu.com. David has extensive government systems experience and was also a professor at New Mexico State University where he taught courses in data communications and networking. 

 

GMR Executive Spotlight Interview Q & A:

 

Title:

Chief Technology Officer (CTO)

Company:

Akerna

Years at current company:

Six

Most successful professional accomplishment before cannabis:

Before David’s work in cannabis, he invented an online self-publishing software that allows schools and children to create and publish books online to be published as physical books and returned to the writer.

Company Mission:

We are passionate about solving problems that better our world. Akerna provides data-driven cannabis solutions worldwide across the entire cannabis supply chain. Our technology empowers the cannabis industry to prove outcomes that positively change lives every day.

Company’s most successful achievement:

Our CEO, Jessica Billingsley, co-founded the company that invented seed-to-sale tracking in 2010. This was done upon identifying the need for organic material tracking and compliance SaaS solutions in the nascent cannabis industry. We recognized that due to the unique complexities and needs of the industry, cannabis needed technology built for it specifically, not just adapted from other industries. We believed visibility across the entire supply chain from seed-to-sale would be a requirement for the industry’s sustained growth. Today, this type of tracking is a requirement of most states that regulate legal cannabis.

In 2017, we launched MJ Platform, the cannabis industry’s first ERP in response to the maturing of the cannabis market to multi-state enterprise businesses. We also led international expansion in the cannabis technology sector very early on in 2012 in Canada then into Spain. Today, our total footprint spans 23 states and 15 countries. Innovation and seeing what opportunities are next on the horizon – and then being ready for them first – has been a hallmark of Akerna since the inception of our flagship product MJ Freeway.

In 2019, Akerna became the first cannabis software business to be traded on a major U.S. exchange, Nasdaq (ticker KERN). This listing was an unprecedented milestone for the cannabis industry and signified a shift in beliefs and generated ripples of opportunity for the future of the industry.

Since then, we have grown the Akerna family to include many leading cannabis and alcohol technology solution s: Ample Organics,  Last Call Analytics,  Leaf Data Systems,  MJ Freeway/MJ Platform, solo sciences, Trellis, and Viridian Sciences.

Today,  Akerna is the cannabis industry’s only scaled technology provider, enabling compliance, regulation, and taxation. We provide the single most comprehensive product ecosystem for cannabis operators that have businesses across any part of the supply chain, from seed-to-sale. This provides transparency and accountability along virtually every piece of the supply chain.

Over the past decade, we have seen much change in the political and social environments surrounding cannabis. As we prepare for a post-legalization landscape and the industry continues to consolidate and mature, we firmly believe the enterprise capabilities we offer, including comprehensive compliance solutions and financial reporting integrations, will become increasingly crucial to the future leaders of the cannabis industry.

Has the company raised any capital (yes or no): 

Yes

If so, how much?

Since going public Akerna has raised $22,000,000

Any plans on raising capital in the future?

 We feel we are well capitalized today and continue to have institutional support and access to the markets should the need arise.  We are always carefully evaluating the needs of the business to maximize long-term shareholder value. 

Most important company  5  year  goal:

To be the dominant provider of technology to the cannabis, hemp, and CBD industries, while also serving additional verticals by providing complete accountability and transparency to what consumers are putting in and on their bodies.


StaffJuly 28, 2021
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5min3850

Doobie now provides cannabis delivery service to medical marijuana patients throughout the St. Louis market.

As more states open up to cannabis retailers, the natural progression is to offer delivery services. Doobie, a leading on-demand cannabis delivery platform, announced that it is expanding delivery services to medical marijuana patients in Missouri, a state where medical marijuana is legal. 

In partnership with JANE Dispensary, located in St. Louis, Doobie will be the first company to provide medical marijuana delivery in the state. Doobie’s co-founder Joseph Rubin says, “We’re proud to be the first delivery company to provide medical marijuana to patients in Missouri. Finding a partner like JANE, who has the best selection of products in the state, makes it that much more exciting.” Missouri is part of Doobie’s expansion plan, which includes Boston, New York and Los Angeles.

Since Missouri is a medical market, having delivery available will provide a significant benefit to patients that aren’t able to easily leave the house or are uncomfortable going into a dispensary. Doobie provides delivery in an easy, discreet, and safe way to get patients their medicine. Patients can view their favorite products through an online platform at trydoobie.com or get recommendations from Doobie customer service consultants over the telephone at 1-888-8DOOBIE (1-888-836-6243). 

The online platform at trydoobie.com is a streamlined, mobile-optimized shopping experience. You can browse popular products by category or brand, and if there are any questions, Doobie expert cannabis consultants are available via chat and phone. After checkout, you can track your delivery in real time, just like when you order from your favorite restaurants. 

Before ordering, patients must have a Missouri marijuana card, which may take around 4 to 6 weeks to receive. Patients must meet certain health requirements and receive a completed Physician Certification Form from a licensed doctor in person or online from companies like Elevate Holistics, Heally, or Missouri Marijuana Card. After the visit, patients must then register for the Missouri Medical Marijuana Program using the online Complia application  portal. The Physicians Certification for Medical Cannabis Form will need to be submitted via the application portal on the Missouri Department of Health and Senior Services’ online registry along with a $25 fee. The Missouri State Health Department will mail you a Missouri medical card within 30 days.

Due to Missouri medical marijuana regulations, all cannabis orders must be paid for before they go out for delivery. Doobie and JANE use an electronic payment service called Hypur that provides a cashless option that is safe, convenient, and reliable. Hypur is simple to use and eliminates the hassle of cash.

Doobie delivery service is available in many cities and counties throughout the St. Louis area including Saint Louis City, Saint Louis County, Saint Charles County, Franklin County, Jefferson County, Warren County and Lincoln County, and Doobie is offering free delivery through the end of August. 


StaffJuly 28, 2021
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4min4570

Seth Rogen’s cannabis company Houseplant and Canopy Growth Corporation (NASDAQ: CGC) have decided to end their relationship after three years. It won’t affect the company’s U.S. business and the product is expected to remain on some shelves through September 2021. The relationship between Houseplant and Canopy started in 2018, well ahead of Canadian legalization. The Canadian cannabis market has evolved substantially since those days, and the parties believe the time is right for the Houseplant brand to develop independently while Canopy advances its focus on wholly-owned brands for the Canadian market.

“The recent launch of Houseplant in the United States has given us a clear benchmark for what Houseplant stands for, and how we plan to bring the brand to life globally,” says Michael Mohr, Co-Founder and CEO, Houseplant. “While our collaboration with the Canopy team has been fruitful and we continue to hold similar views on the opportunities ahead, we believe the time is right for us to focus on Houseplant independently.”

During these three years, Houseplant has become a popular consumer brand in Canada and is currently a top 10 brand in the premium cannabis market in Ontario. Beverages are a highlight of the brand’s success, with Houseplant Grapefruit notably attaining the top-selling cannabis beverage spot in Canada (measured by units sold) in its launch year. More than one million cans of Houseplant beverages were sold in Canada within the last year.  Houseplant launched a line of premium homewares and cannabis products in the United States in March 2021 and has quickly become a cultural and industry leader.

Canada is where it all started – for us as people, and for the brand,” says Houseplant Co-Founder Seth Rogen. “This is not an exit from the Canadian market, but a chance for us to evolve the brand.” Houseplant plans to relaunch in the Canadian market in the future with products more consistent with its US offerings.

“We’re proud of our collaboration with Houseplant. Together, we’ve delivered high quality and innovative products to Canadian consumers and played a critical role in defining the premium cannabis category in Canada,” said Rade Kovacevic, President and Chief Product Officer, Canopy Growth. “As we move forward, Canopy will advance our focus on our wholly-owned brands for the Canadian market and we wish the Houseplant team the best in their future endeavors.”

 

 

 


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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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