Daily Hit Archives - Page 2 of 73 - Green Market Report

StaffJune 6, 2022
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5min5320

It’s time for your Daily Hit of cannabis financial news for June 6, 2022.

On the Site

Blair Wellness

Maryland cannabis dispensary company Blair Wellness Center is firing back at a disgruntled worker’s allegations according to a report on Law360. The court document filed on 6/2/2022 in the United States District Court in the District of Maryland is counter-suing former employee Kamille Jones. Read more here.

Mayor Adams

New York City Mayor Eric Adams appeared at the CWCB Expo in New York City this past weekend. The Mayor spoke briefly at the event and then walked quickly through some of the trade show floor. He stopped at the Women Grow pavilion before answering some questions from a few reporters. Green Market Report was chosen as one of the few to speak to the Mayor. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date on all our videos. Go to the website to subscribe to our free newsletters. Watch the video here.

In Other News

Jushi

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) is expanding its retail presence with the opening of its 33rd dispensary nationally and the fourth dispensary in the Silver State: NuLeaf Las Vegas The Strip. Following the opening of NuLeaf Las Vegas The Strip, Jushi’s operations in Nevada will consist of three adult-use and medical dispensaries in Las Vegas, an adult-use and medical dispensary in Lake Tahoe, and approximately 47,000 sq. ft. of cultivation and manufacturing space. Read more here.

Flower One

Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) announced the receipt of a $5  million loan from RB Loan Portfolio II, LLC. “This capital infusion will enable us to complete the first phase of capital expenditures and provide working capital to the business. We are grateful for the runway this will provide as we work towards our goal of achieving positive cash flow,” said Kellen O’Keefe, President & CEO of Flower One. Read more here.


StaffJune 2, 2022
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5min15620

The Daily Hit is a recap of the top cannabis business stories for June 2, 2022.

ON THE SITE

Bright Green Former CEO Claims Valuation Fraud

The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. Bright Green recently began trading on the NASDAQ (NDAQ) as a direct listing, not as an Initial Public Offering (IPO). The stock shot up almost immediately to $58 and has since sold off and was lately selling at $3.54. Read more here.

TILT Holdings Inc., Ricky Williams’ Highsmanis

Ricky William’s cannabis brand Highsmanis coming to the Northeast in a new deal with TILT Holdings Inc.  (NEO:TILT) (OTCQX: TLLTF). Highsman is a purpose-driven cannabis lifestyle brand founded by former NFL running back, Ricky Williams. TILT is leaning into sports enthusiasts and everyday athletes as it chooses its portfolio of brands. TILT will launch Highsman in both Massachusetts and Pennsylvania in early September to kick off the 2022 football season. Read more here.

Next Gen Psychedelics

The psychedelic experience is intense. As much as it can help someone understand and work through their mental health issues, the hallucinations that come with them are a significant part of the psychedelics experience that is what makes psychedelics the powerful and effective therapy that it is. Read more here.

IN OTHER NEWS

Intercure Ltd., Cookies

InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) announced today the grand opening of its flagship Cookies pharmacy in Be’er Sheva, the largest city in Israel’s southern region, known as the capital of the Negev. The pharmacy is located in the center of Be’er Sheva in front of City Hall, in a unique building that covers an area of ​​over 1,000 square meters and is painted entirely in the globally recognized Cookies baby blue. To the company’s knowledge, this is the largest medical cannabis dedicated pharmacy in the world. Read more here.

Clear Cannabis Inc., Bloom Montana

Clear Cannabis Inc. (CCI), national licensor of cannabis brand The Clear™ announces an exclusive partnership with licensed cannabis provider Bloom Montana. “We are ecstatic to establish this partnership and be one of the first nationwide cannabis brands in the great state of Montana,” said Seth Wiggins, President of CCI. “With a newly legalized adult-use market, we know there’s a growing demand for high quality, consistent cannabis products from a reputable brand. As pillars of brand value, The Clear will certainly deliver for the cannabis consumer in Montana.” Read more here.

Heritage Cannabis Holdings

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) today announces that the cease trade order issued on March 2, 2022, by the Ontario Securities Commission has been revoked. As a result, the Company’s common shares have resumed trading on the Canadian Securities Exchange effective immediately. Read more here.

 CanPay

Florida has fully adopted CanPay, the largest legitimate payment network for cannabis merchants and consumers. The platform is now accepted at 95% of the state’s medical marijuana treatment centers (MMTCs). Nearly 100% of Florida’s medical cannabis patients can use CanPay to pay for their cannabis purchases. Read more here.


StaffJune 1, 2022
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8min7180

The Daily Hit is a recap of the top cannabis business stories for June 1, 2022.

ON THE SITE

Wesana Said Could Sell Assets, Focus on Studies

Wesana Health Holdings Inc.  (CSE: WESA; OTCQB: WSNAF) announced its first-quarter 2022 financial results with no revenues to report. Wesana had a net loss of $4.8 million in the quarter. It has a cash balance of $3.1 million. Wesana said it is reviewing strategic alternatives including, but not limited to, a sale of all the assets under the care delivery division. Read more here.

Novamind Reports Earnings Ahead of Acquisition

Novamind Inc. (CSE: NM)(OTCQB: NVMDF) reported its financial results for the fiscal third quarter ending March 31, 2022. Novamind reported total revenue of $3,227,352, an increase of 32% over the previous quarter. The company had a net loss of $2.4 million. Numinus Wellness will be buying Novamind in an all-share transaction. Read more here.

The Cannabis Crypto Connection

The cannabis industry has tried valiantly to incorporate crypto into its business with little success. It was seen as a great way to work around a banking system that was hostile toward the cannabis industry. However, the uptake has been slow and uneven results have caused many to stay on the sidelines in wait and see mode. That hasn’t kept some in the industry though from jumping in with both feet. Read more here.

Big Pharma and Psychedelics

There are 20,000 drugs in active development globally. More novel drugs made their market debut in 2020 than in any other year, with 82 released onto the market in total, which is way ahead of the previous record of 68 in 2018. The world pharmaceutical market was worth an estimated $1.2 trillion in 2020 and is one of the most profitable industries in the world. Read more here.

IN OTHER NEWS

Aurora Cannabis Inc.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian cannabis company, has announced today the closing of its previously announced bought deal offering of units of the company for gross proceeds of approximately US$172.5 million. The company sold approximately 70.4 million units at a price of US$2.45 per unit, including approximately 9.2 million units sold pursuant to the exercise in full of the underwriters’ over-allotment option. Read more here.

Cannara Biotech Inc.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of cannabis and derivative products, announced today that it has closed on a $50M credit facility led by BMO Commercial Banking.  The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit. Additional favorable terms attached to the credit facility include a declining interest rate over time as the company hits certain covenant thresholds and the ability to repay the facility without penalty at any time. Read more here.

Verano Holdings Corp., The Weldon Project’s Mission Green

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), a leading multi-state cannabis company, today announced the launch of an exclusive partnership in support of The Weldon Project’s Mission Green, the non-profit organization’s initiative that promotes clemency for cannabis-related offenses. Through this partnership, Verano will initiate a nationwide fundraising campaign on June 3 that will remain active throughout 2022, available exclusively at the Company’s retail locations. Read more here.

TRC Healthcare, University of Colorado Denver

TRC Healthcare (TRC) has launched a new training program to help pharmacists deliver better healthcare for patients who use cannabis products. The online program, known as RxAdvanced: Guide to Cannabis, gives pharmacists a foundational knowledge of cannabis that strengthens their role as stewards of public health. “As more states legalize cannabis products, either for medical use, recreational use, or both, we have seen a need within the healthcare industry for credible information that can help clinicians guide patients toward safe and effective cannabis use,” says Wes Crews, Chief Executive of TRC Healthcare. Read more here.

High Tide Inc., Livonit Foods Inc.

High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a retail-focused cannabis company, announced that further to its press release dated March 30, 2022, the Company has completed its acquisition of 100% of the equity interest of Livonit Foods Inc. operating as Bud Heaven, which operates two retail cannabis stores in Ontario for CAD$2.8 million. Read more here.

Schwazze, Urban Health & Wellness, Inc.

Schwazze, (OTCQX: SHWZ) (NEO: SHWZ), announced today that it closed the transaction to acquire substantially all the assets of Urban Health & Wellness, Inc. The transaction includes the adult use Urban Dispensary, located at West 38th Avenue and Clay Street, in Denver’s Highlands neighborhood as well as a 7,200 square foot indoor cultivation facility (2,700 square feet of canopy) located in Denver, Colorado. This purchase continues Schwazze’s expansion in Colorado and brings the company’s total number of Colorado dispensaries to 23 and grow facilities to four. Read more here.

UC Asset LP

UC Asset LP (OTCQX: UCASU) announced today the company is aggressively seeking cannabis property opportunities in the state of New York, by partnering with licensed local growers, vendors and other cannabis license holders. In the fourth quarter of 2021, UCASU rolled out a new business investment strategy highlighting interest in retaining cannabis properties to duplicate the success of other public companies, such as Power REIT (NYSE: PW). Read more here.

Entourage Health Corp.

Entourage Health Corp. (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE), a Canadian producer and distributor of cannabis products confirmed today it has signed an additional amendment to its senior secured credit facility entered into on March 29. The latest amendments to the credit facility modify the terms under which Entourage secured up to $39 million of debt financing over a three-year term ending in 2022. Read more here.


StaffMay 31, 2022
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7min5760

The Daily Hit is a recap of the top business stories in the cannabis industry for May 31, 2022.

On the Site

Cansortium

Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) announced interim unaudited financial results for the first quarter ending March 31, 2022. Cansortium said that revenue increased 30% to $19.7 million compared to $15.1 million last year and it was higher than the fourth quarter’s revenue of $14.7 million. The company did not release any income or loss figures. Read more here.

Entourage

On Monday Canadian cannabis company Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) announced its financial results for the first quarter ending March 31, 2022. Entourage reported total revenue of $15.8 million, up 17% sequentially over the fourth quarter of 2021. The reported loss was trimmed to $8.7 million. Read more here.

Khiron

Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced today its financial results for the quarter ended March 31, 2022, with revenues increasing 65% to $4.6 million and a 28% sequential increase from the fourth quarter. The company’s net loss was essentially flat at $4.5 million. Read more here

HYTN

HYTN Innovations Inc.  (CSE: HYTN) reported certain highlights from its second-quarter financial statements ending March 31, 2022. Hytn reported revenues of $255,461 for the three months ending March 31, 2022. the company has a cash position of over $2.2 million, as of March 31, 2022, and $2.2 million in property, plant, and equipment assets, as of March 31, 2022, including all equipment related to the company’s purpose-built, ISO 9001:2015 Certified and Health Canada-licensed Kelowna manufacturing facility. The company noted it had no debt as of March 31, 2022. Read more here.

Allman Brothers

Southern rock band the Allman Brothers Band has become the latest music group to create a cannabis brand. The Allman Brothers Band is launching a strain of flowered in Illinois called Chocolate Chunk. It is an indica dominant strain available in 3.5g and will be exclusively sold at Verilife dispensaries, which are owned by Pharmacann. Read more here

In Other News

Urban-gro

 urban-gro, Inc. (Nasdaq: UGRO) announced that it has signed an agreement with E29 Labs, Inc., (“E29 Labs”) a black, woman-owned commercial cannabis production company, to provide full architecture, engineering and design services for their application to build an approximately 100,000 square foot cannabis production facility located in New York State. Upon securing a license, the agreement provides that urban-gro will be E29 Labs’ design-build partner to complete the build out of its facility. Read more here.

Harborside

Harborside Inc. (CSE: HBOR) (OTCQX: HBORF) provided details of the integration of its operations with those of the three companies acquired by the Company since the third quarter of last year. On July 2, 2021, the Company acquired Sublimation Inc., which was followed by the acquisition of UL Holdings Inc. on March 1, 2022 and LPF JV Corporation on April 4, 2022. Read more here.


StaffMay 26, 2022
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8min6720

The Daily Hit is a recap of the top cannabis business stories for May 26, 2022.

ON THE SITE

Cannabis Executives Go On Stock Buying Spree

As the cannabis industry matures, certain patterns are beginning to be established not unlike other retail industries. The one that just occurred is the first-quarter dip in sales. As companies are delivering their first-quarter results, many told investors that sales dipped after the fourth quarter, but that the second quarter was picking up. Read more here.

Ayr Wellness Inc.

Ayr Wellness Inc. (OTCQX: AYRWF) reported financial results for the first quarter ending March 31, 2022 with revenue rising 90% to $111.2 million over last year’s $58 million. Sales did slip a tiny bit from the fourth quarter’s revenue of $111.8 million. Ayr is forecasting $250 million of Adjusted EBITDA, $100 million of operating income, and $800 million of revenue for the fourth quarter of 2022. Read more here.

Decibel Cannabis Company Inc.

Decibel Cannabis Company Inc.  (TSXV: DB) (OTCQB: DBCCF) released its first-quarter financial results for the first quarter ending March 31, 2022. Decibel reported $23 million in total sales for the quarter, with strong growth over the fourth quarter and topping last year’s revenue of $14 million in the same time period in 2021. The company said that net revenue growth was driven by the launch of Decibel’s new infused pre-roll lines and continued growth in demand for flower, vape and concentrate products, despite the first quarter historically being a seasonally weak period. Read more here.

Humble & Fume Inc.

Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) reported its third-quarter fiscal 2022 financial results for the fiscal third-quarter ending March 31, 2022. Revenue fell to $16 million in the quarter versus last year’s revenue of $18 million for the same time period. Humble & Fume said that the revenue decreased as a result of management’s focus on selling higher-margin products and moving away from lower-margin sales channels. Read more here.

Biotech Investors are Circling Around Psychedelics

Investment in a biotech company is a tricky move for any seasoned investor. It’s always challenging, with great potential wealth tied up for years while the results of clinical trials get published and the approval process of the Food and Drug Administration (FDA) slogs on. To really understand it, there is complicated medical jargon to figure out amidst starry-eyed promises being promoted of treating a human illness or disease for the first time with a new life-changing drug. Read more here. Read more here.

IN OTHER NEWS

Aurora Cannabis Inc.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a Canadian cannabis company, today has announced that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 51.1 million units of the Company, at a price of US $2.45 per Unit for gross proceeds of approximately US $125.2 million. Each unit will be comprised of one common share of the company and one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company for a period of 36 months following the closing date of the offering at an exercise price of US $3.20 per warrant share, subject to adjustment in certain events. Read more here.

Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), an international provider of consumer products in cannabis, announced the launch of Endless Coast Cannabis-Infused Seltzers, a highly sociable line of low-calorie, low-sugar and low-carb beverages which will be available tomorrow at Curaleaf dispensaries in Massachusetts. Read more here.

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (OTC: TGODF), a sustainable global cannabis company, reported its financial results for the quarter ended March 31, 2022. “We continued our momentum from Q4 2021 with strong Q1 2022 results, including another record month in March. These results can be attributed to the launch of new products and our existing products gaining further traction, affirming the strategic approach we have taken,” commented Sean Bovingdon, CEO of TGOD. Read more here.

Akerna Corp.

Akerna Corp. (Nasdaq: KERN) announced today the results of its reconvened 2022 annual meeting of stockholders held Wednesday, May 25, 2022, at 9 a.m. Mountain Time with respect to all proposals described in Akerna’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on April 19, 2022. Read more here.

Icanic Brands Company, LEEF Holdings, Inc.

Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF), a brand operator of California cannabis brands, provided the following corporate update and revenue forecast for the three-month period ending July 31, 2022 and for the fiscal year ending July 31, 2023. These financial results reflect the first full quarter and fiscal year of Icanic Brands combined with its recent acquisition of LEEF Holdings, Inc., a California based extractions company. Read more here.

Kiaro Holdings Corp.

Kiaro Holdings Corp. (TSXV: KO) (OTC: KIARF), is today pleased to announce its fourth quarter and year-end financial results for fiscal year 2022 ended January 31, 2022.  Significantly expanded retail channel, from 7 to 17 stores, and the addition of experienced results-driven leaders to drive new and expanding revenue channels has delivered record results. Read more here.

Rubicon Organics Inc.

Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) announces that in accordance with the Company’s equity incentive plan, it has amended the terms of 778,500 incentive stock options and granted 40,000 incentive stock options to employees of Rubicon. Read more here.

 


StaffMay 25, 2022
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7min8510

The Daily Hit is a recap of the top cannabis business stories for May 25, 2022.

ON THE SITE

Live Blog from WEF 2022 in Davos Switzerland

Green Market Report editor-in-chief Debra Borchardt blogs live from the Medical Psychedelics Series, at the World Economic Forum being held in Davos Switzerland. Read more here.

Ayr Wellness Inc. Approved in New Jersey

Ayr Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) announced that the New Jersey Cannabis Regulatory Commission approved the Company for adult-use cannabis sales in the Garden State. “We are thrilled to be approved for adult-use sales in New Jersey and to have all three dispensaries cleared simultaneously to open for adult-use,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr. “To date, Central Jersey has the lowest number of dispensaries per capita, leaving its population under-served compared with the rest of the state. Read more here.

Verano Holdings Corp.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its financial results for the first quarter ending March 31, 2022, with revenue increasing 67% to $202 million versus last year. Revenue for Verano fell  from the fourth quarter’s $211 million. The net loss in the first quarter 2022 was $7 million, compared to a loss of $2 million in the first quarter 2021. Read more here.

Jushi Holdings Inc.

Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) released its financial results for the first quarter of 2022 ending March 31, 2022, with revenue increasing 48% over last year to $61.9 million. Jushi said sales fell 6% from the fourth quarter’s revenue of $65.9 million. The company delivered a net loss of $14.3 million, which was trimmed from last year’s net loss of $26 million. Read more here.

IN OTHER NEWS

Rhode Island Legislature Approves Marijuana Legalization Proposal

Following floor debates in both chambers of the General Assembly earlier today, a majority of Rhode Island legislators have approved legislation to legalize, regulate, and tax cannabis for adults. The bill will be transmitted to Gov. Dan McKee who has previously indicated he will likely sign the measure. With the governor’s approval, Rhode Island will become the 19th state to end marijuana prohibition. Read more here.

The Valens Company Inc.

The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS), a manufacturer of branded cannabis products, provided an update on its recent recreational market share in Canada. Tyler Robson, Chief Executive Officer of The Valens Company, said, “We continue to expand our recreational market share as we develop strength within our brand portfolio through products that continue to resonate with consumers.” Read more here.

Item 9 Labs Corp.

Item 9 Labs Corp. (OTCQX: INLB), a vertically integrated cannabis dispensary franchisor and operator announced today that it has signed a definitive agreement to acquire Sessions Cannabis, one of Canada’s largest cannabis retail franchisors. “This is a transformative acquisition that fast-tracks our entry into the Canadian market and brings tremendous value to our shareholders,” said Item 9 Labs Corp. CEO Andrew Bowden. Read more here.

Lowell Farms Inc.

Lowell Farms Inc. (CSE: LOWL; OTCQX: LOWLF), a California cannabis cultivation company and maker of brand Lowell Smokes, is announcing the acquisition of advanced pre-roll production equipment and capabilities from Canadian cannabis brand All Good Collective. The acquisition will accelerate Lowell Farms’ ability to offer end-to-end automation of large-scale pre-roll production. Read more here.

Ayr Wellness Inc., Herbal Remedies Dispensaries, LLC

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a vertically integrated U.S. multi-state cannabis operator, today announced it has closed the definitive agreement to acquire Herbal Remedies Dispensaries, LLC, an operator of two licensed retail dispensaries in Quincy, Illinois. Read more here.

Decibel Cannabis Company Inc.

Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF), a cannabis producer, announced its first quarter financial results for the three month period ending March 31, 2022. “Decibel remains on track to achieve its previously communicated targets, which is a testament to the focus on our strategic plan, and particularly our New, Unique and Innovative products and dedication to our customers”, said Paul Wilson, CEO of Decibel. Read more here.

TILT Holdings Inc., Innovative Industrial Properties, Inc.

 TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, has signed an amendment to its previously announced definitive agreement to sell its White Haven, Pennsylvania facility. The Amendment allows TILT and Innovative Industrial Properties, Inc. to extend the end of the investigational period of the transaction contemplated to a date that is on or before June 17, 2022. Read more here.


StaffMay 24, 2022
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8min8170

The Daily Hit is a recap of the top cannabis business stories for May 24, 2022.

ON THE SITE

Live Blog from WEF 2022 in Davos Switzerland

Green Market Report editor-in-chief Debra Borchardt blogs live from the Medical Psychedelics Series, at the World Economic Forum being held in Davos Switzerland. Read more here.

MedMen Wins Suit Against Whitestar

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) won its lawsuit against Arizona-based Whitestar Solutions, LLC. According to a statement,  Whitestar filed a lawsuit in March 2020, related to a Membership Interest Purchase and Sale Agreement governing the purchase of EBA Holdings, Inc. dba MedMen Scottsdale. Whitestar alleged fraudulent inducement and breach of contract, among other claims, and sought rescission of the underlying transaction or $60 million in alleged monetary damages. Read more here.

Illegal Cannabis Lounges in NYC

These consumption lounges are operating without licenses and it seems the city and state don’t care. Since the adult-use license program hasn’t been written and approved, these operations are technically violating the law. No law means no violations. So there really isn’t anything law enforcement can do. These lounges range from the first to market Happy Munkey to pop-up neighborhood lounges that are often located next to illicit street sellers. Read more here.

Psychedelics Companies

As the industry matures, there are clear leaders in the pack of psychedelics companies who are positioned to continue driving industry development. Compass Pathways, Atai Life Sciences, and Cybin are generally considered the top three companies in the industry, asserting their dominance in the market, with Field Trip Health and Seelos Therapeutics as psychedelics companies to watch. Read more here.

IN OTHER NEWS

Aleafia Health Inc.

Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) is pleased to announce that its upward trend in market share, purchase orders, and new SKU launches has continued in 2022’s first four months, following on from the growth in the quarter ended December 31, 2021. The Company has seen strong advances in its largest adult-use categories: flower, pre-rolls and vapes. Read more here.

Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), an international provider of consumer products in cannabis, will begin adult-use sales at its Edgewater Park, New Jersey dispensary on May 25. Located at 4237 US-130, Curaleaf Edgewater Park is now the Company’s second location to sell adult-use cannabis in the Garden State. Read more here.

Rubicon Organics Inc.

Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF), a licensed producer focused on cultivating and selling organic certified, premium cannabis, today reported its financial results for the first quarter ended March 31, 2022. “Rubicon Organics is at a turning point in 2022, with higher yields and increased quality coming from our Delta Facility, whilst remaining cost-conscious we are driving to being profitable in 2022.” Read more here.

RIV Capital Inc., Etain LLC

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) today announced that it had received notice of an Ontario Superior Court of Justice application by JW Asset Management in connection with the Company’s process regarding its acquisition of ownership and control of Etain, LLC and Etain IP LLC, owners and operators of legally licensed cannabis cultivation and retail dispensaries in the state of New York. JWAM, an investment firm focused on the pharmaceutical and cannabis industries, is the holder of approximately 20.4% of the Company’s issued and outstanding Class A common shares. Read more here.

Pharmagreen Biotech, Inc., Long Valley Farms

Pharmagreen Biotech, Inc., (OTCQB: PHBI), which provides starter plantlets utilizing a proprietary tissue culture process, “Chibafreen,” to licensed cannabis cultivators and CBD/CBG hemp farmers, announced that it has completed another significant milestone in the business development with Long Valley Farms. Pharmagreen has advanced the next tranche of funds, whereby the use of proceeds is for the continuous application process for the LVF micro-business license and its nursery licenses in addition to the current cultivation license. PHBI anticipates having the permits in place within the following few months, depending on the regulator’s schedule. Read more here.

Avicanna Inc.

 Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that, through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S., SMGH has completed its first commercial export of high concentration THC and high concentration CBD full spectrum psychoactive cannabis extracts to Portugal. Read more here.

Eden Empire Inc.

Eden Empire Inc. (CSE: EDEN) announced the signing of a non-binding letter of intent agreement with Plantvida located in Colombia. The agreement dated May 20th, 2022, is made by and between Eden Empire Inc. and Plantvida. The Plantvida SAS project located in north-western Cundinamarca, Colombia, is dedicated to implementing strategic social business, bringing safe, natural and ecologically friendly wellness products to the emerging cannabis business with the goal of providing work and social benefits to the community, such as education, unemployment, health, housing and security. Read more here.

Abaca

Arkansas-based cannabis financial technology firm Abaca has expanded coverage bringing digital-first banking, payment and treasury management solutions to Mississippi’s cannabis industry. Integral in banking 95 percent of Arkansas’s cannabis industry since day one and hundreds of cannabis clients across the country, Abaca is uniquely positioned to support Mississippi. Read more here.


StaffMay 23, 2022
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5min5950

The Daily Hit is a recap of the top cannabis business stories for May 23, 2022.

ON THE SITE

Live Blog from WEF 2022 in Davos Switzerland

Green Market Report editor-in-chief Debra Borchardt blogs live from the Medical Psychedelics Series, at the World Economic Forum being held in Davos Switzerland. Read more here.

Medical Psychedelics Series in Davos

Every year world leaders come together to discuss the global economy at the World Economic Forum’s annual gathering in Davos Switzerland. This small town in the Alps has become the place where the smartest people on the planet come together to discuss solutions to the world’s economic problems and issues. It is not uncommon for various industries to establish a meeting place for people to come together for conversations. Read more here.

Hawthorne and the Hydroponics Market

When we look at what’s happening in the hydroponics market, it’s really not just a Hawthorne issue, it’s across the board. All these companies were saying things had slowed down, but that the market was going to get better at the end of the year. We weren’t getting a whole lot of color on what was happening. Is it that certain states were slow to get going? Is it that there was just truly oversupply? There are so many reasons why this slowdown could have happened. What’s happening here? Read more here.

Decriminalizing Psychedelics

There has been an accelerating movement to decriminalize psychedelics, especially psilocybin, since May 2019, when Denver, Colorado became the first city in the country to decriminalize psilocybin through an initiative, in essence handing a small but significant defeat to the operatives running the War on Drugs. Read more here.

NY Approves 146 Cannabis Farmers

The New York Cannabis Control Board announced on Thursday that an additional 58 farmers for adult-use cannabis have been approved. This brings the total of approved farmers to 146. The NYCCB initially approved 52 farmers in April and then gave the green light to another 36 at the May 5 meeting. People hoping to get these licenses were able to begin applying on March 15 and the opportunity will end on June 30. Read more here.

GMR Women’s Summit (VIDEO)

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This successful sold-out event was the first in-person Summit for GMR since before the pandemic. More here.

IN OTHER NEWS

Boston Beer Company

The Boston Beer Company, Inc. (NYSE: SAM), maker of iconic, high-quality brands such as Samuel Adams, Truly Hard Seltzer and Twisted Tea, today announced the launch of TeaPot, a new line of cannabis-infused iced teas. TeaPot is the company’s first infused beverage offering and will be available in select Canadian provinces beginning in July. Read more here.

4Front Ventures Corp.

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the first quarter ended March 31, 2022. All financial information is presented in U.S. dollars unless otherwise indicated.

“Our business inflected during the first quarter of 2022 as a result of the investments and efficiencies we made over the last 18 months to meet our long-term strategic goals,” said Leo Gontmakher, Chief Executive Officer of 4Front. Read more here.


StaffMay 19, 2022
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5min8200

The Daily Hit is a recap of the top cannabis business stories for May 19, 2022.

ON THE SITE

Harborside Owns Urbn Leaf Seaside Store

Harborside Inc. (CSE: HBOR) (OTCQX: HBORF) now fully owns the Seaside, California store also known as Urbn Leaf. Harborside had initially purchased a 50% ownership in the dispensary, but with the new transaction, it will own all of the issued and outstanding securities of 680 Broadway Master, LLC which owns the Seaside Store, bringing the company’s interest in the Seaside Store to 100%. Read more here.

Psychedelics and Institutional Investors

When looking at the data coming out of psychedelics research, there is tantalizing evidence that the promise of psychedelics is becoming more of a reality every day. Companies and organizations such as Compass Pathways NASDAQ: (CMPS) the Multidisciplinary Association for Psychedelic Studies (MAPS) and Awakn Life Sciences are either planning or working on phase 3 clinical trials, one of the last steps before U.S. Food and Drug Administration (FDA) approval. Read more here.

IN OTHER NEWS

Medical Marijuana, Inc.

Medical Marijuana, Inc. (OTC: MJNA), a publicly traded cannabis company in the United States, announced today its financial results for the quarter ending March 31, 2022, and provided an overview of recent operational highlights. Generated $7.8 million in net revenue in the first quarter of 2022, a 24% increase when compared to the previous quarter. Read more here.

New Frontier Partners with Treez

New Frontier Data, a data, analytics and technology firm specializing in the global cannabis industry, announces a broad, sophisticated data partnership with Treez,  an enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market. The partnership provides new solutions designed to bring speed, accuracy and transparency to cannabis retail, brand and product performance. Read more here.

ADC Partners with Alt Magic

ADC, a cannabis distribution company, announced a partnership with Alt Magic to present the first ever WebXR cannabis store. The store allows users to talk with like-minded people in the Metaverse using their VR headset even if they don’t have a VR headset they can use their smartphone, tablet or computer to enjoy the WebXR experience. It’s the first time that people on all major devices will be able to enter a cannabis store, pick up products, review ingredients and make purchases from the Metaverse. Read more here.

Trulieve Cannabis Corp.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a cannabis company in the United States, today announced the grand opening of its third and fourth medical dispensaries in West Virginia. Located at 4701 MacCorkle Ave. SW in South Charleston and 152 Park Shopping Center in Parkersburg, both dispensaries will open at 10 a.m. on Saturday, May 21, 2022. Read more here.

Isracann Biosciences

Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) a multi-faceted organization with a natural health medicine division in Canada and holdings in Israel, is pleased to announce that its wholly owned subsidiary Praesidio Health has completed the natural product number (NPN) submissions to Health Canada for its first formulations. Read more here.

Indiva Limited

Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF), a Canadian producer of cannabis edibles and other cannabis products, announced its financial and operating results for the first fiscal quarter ended March 31, 2022. “We are pleased to report very strong year-over-year revenue growth in the first quarter of 2022, and continued gross margin improvement compared to fiscal 2021. According to data from Hifyre Inc., Indiva continues as the dominant national market share leader in edibles,” said Niel Marotta, President and Chief Executive Officer of Indiva. Read more here.


StaffMay 18, 2022
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9min9180

The Daily Hit is a recap of the top cannabis business stories for May 18, 2022.

ON THE SITE

Canopy Growth Acquires Jetty Extracts for $69 Million

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) is buying Lemurian, Inc. better known as Jetty Extracts, a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology, contingent upon federal permissibility of THC in the U.S. or earlier at Canopy Growth’s election, up to 100% of the outstanding capital stock of Jetty. Read more here.

Bright Green Listed on NASDAQ

Bright Green (NASDAQ: BGXX) is a cannabis company with no revenue that just began trading on the NASDAQ, despite the exchange’s insistence that it won’t list U.S. cannabis companies due to the product being federally illegal. Bright Green plans to produce cannabis for research purposes with the Drug Enforcement Agency‘s (DEA) blessing, which seems to be the reason why the NASDAQ has allowed the company to trade. It would be considered federally legal cannabis. The stock is trading at $26. Read more here.

Cresco Revenues Fall

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF)  released its financial results for the three months ended March 31, 2022, as revenue fell from the fourth quarter’s $217 million to the first quarter’s $214 million. Cresco Labs did note that the revenue increased 20% over last year’s $178 million for the same time period. This also beat the Yahoo Finance average analyst estimate for sales of $213 million. Read more here.

GMR Women’s Leadership Awards: Ralina Shaw

Ralina is the founder of House of Tyne and on the leadership team of 4thMVMT,  a leading social impact organization based in Los Angeles with a mission to support those who have been adversely affected by onerous Cannabis laws. They do this by educating, empowering, and training those adversely affected to run/operate their BIPOC-led “Sixty Four & Hope” retail dispensaries in Los Angeles (2 recently opened locations and counting). Read more here.

 Psychedelics on the World Stage

Every year world leaders come together to discuss the global economy at the World Economic Forum’s annual gathering in Davos Switzerland. This small town in the Alps has become the place where the smartest people on the planet come together to discuss solutions to the world’s economic problems and issues. It is not uncommon for various industries to establish a meeting place for people to come together for conversations. In 2019, the Canada Cannabis House hosted a three-day event for people in the cannabis industry to introduce themselves and talk about business with people who were unfamiliar with the industry. Read more here.

 Women Creating Cannabis Brands (VIDEO)

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This panel was titled “Women Creating Cannabis Brands.” These savvy and accomplished women have created truly unique and original products and companies. Their products are unlike others in their categories. This panel explores what it takes to create a company and product that stands out in a sea of sameness. Read more here.

IN OTHER NEWS

Ayr Wellness Inc.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a leading vertically integrated U.S. multi-state cannabis operator (MSO), today announced that it has launched first sales from its Phoenix, Arizona cultivation facility. Concurrently, the company announced the launch of its national pre-roll brand, STiX Pre-Roll Co. in Arizona. Read more here.

American Green, Inc.

American Green, Inc. (ERBB:OTC) has purchased the 40,000 square foot building known as American Green’s “Cypress Chill” cannabis facility located at 2325 W. Cypress St. Phoenix, AZ. 85009.  The building sits on a 62,000 square foot site and was previously leased by ERBB in August 2021 with an option to buy. American Green has exercised its option to buy the building and now owns it. The purchase price was set at $3.75 million at the time of the signing of the lease last year. Recently, the building was professionally appraised for $5.3 million, giving American Green $1.55 million of additional equity, at the time of closing. When added to the down payment of $1.123 million, there is now a total of $2.673 million of equity in the new “Cypress Chill” cannabis grow building. Read more here.

MariMed Inc.

MariMed Inc. (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, announced today it had been awarded a provisional dispensary license by the Ohio Board of Pharmacy. MariMed won this license in the Ohio lottery process. The license allows the Company to develop a medical dispensary in Tiffin, Ohio, located south of Toledo and home to the University of Bucharest and Tiffin University. Read more here.

Ascend Wellness Holdings, Inc.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, is pleased to announce that it has closed on $36.5M of additional funding under the increase option of its existing term loan credit facility. In August 2021, the Company announced it had closed on a US$210 million Senior Secured Term Loan credit facility with Seaport Global Securities LLC as lead manager.

Steep Hill Michigan

Steep Hill is pleased to announce that the Company’s licensee partner, Steep Hill Michigan, a Cannabis Regulatory Agency (CRA) licensed medical and adult-use/recreational cannabis safety compliance testing facility, has earned ISO/IEC 17025:2017 accreditation, an International Standard recognized by governments and industry participants as the standard of excellence for the technical requirements and operational competence of a quality laboratory management system. The accreditation was validated by Perry Johnson Laboratory Accreditation (PJLA), the Michigan-based world-wide leader in ISO assessment and validation. Read more here.

First Columbia Gold Corp., Green Diamond Farm

First Columbia Gold Corp (FCGD), operating as FineCannabisGoods.com, is pleased to announce an agreement to acquire Green Diamond Farms LLC of southwest Michigan. Green Diamond Farms is currently working on licensing and setting up growing facilities in different areas of the state where permitted in partnership with FCGD. Each location should gross up to $2.5 mil year 1 and $6 mil by year 2. Read more here.


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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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