Edibles Archives - Green Market Report

StaffStaffNovember 27, 2019
saka_thanksgiving_cocktail_6-1280x853.jpg

5min2620

The holiday season is in full swing and there is nothing more traditional than boozy holiday punch. Party hosts have been mixing up these sweet and fruity seasonal concoctions for decades, getting their guests more festive by the alcohol-fueled, calorie-laden glassful. Up until now, a bottle of cheap wine, vodka or brandy provided the only real base for this gleeful grog, topping off the tipsiness and driving up the dread for the inescapable hangover to follow.

But what if there was a way to get into the holiday spirit without, um, the spirit?

Luckily, like a liquid gift from Santa’s coolest helpers, Cannabis-infused beverages can now provide the perfect alternative base for your holiday punch without the negative effects of alcohol. With traditional flavor options like of orange, cinnamon, lime, cranberry and apple cider, cannabis-infused beverages provide the perfect buzz with far less calories and no hangover.

If it sounds too good to be true, think again. We are now living in an age where, in many states, cannabis is no longer prohibited. Advancements in micro-emulsion and infusion technologies have spiked an increase in infused beverages whose rapid onset effects and speedy dissipation rates have cannabis newbies and enthusiasts alike touting them as the safest, most consistent and predictable way to get know your dose and your high on.

Now that these beverages exist, many believe they will become the substitute intoxicant for traditional, alcohol-themed past times and gatherings. So, this year, as your friends and family gather around fires and football games to get toasted over the holidays, why not try a cannabis-infused beverage in place of that cheap wine, vodka or brandy?

For a delicious holiday punch, for example, start off with House of Saka PINK, widely hailed as the tastiest and most luxurious cannabis-infused beverages available today. Made from an alcohol-removed rose´ of Pinot Noir sourced from a single vineyard in Napa Valley, House of Saka PINK’s wine-like aromas and flavors of ripe strawberry, orange blossom, elderflower and pink grapefruit provide the perfect base holiday cheer. See recipe created by world famous mixologist Warren Bobrow below…

 

Saka Holiday Punch  

 

Recipe:
Saka holiday punch
Chilled burgundy glass
3 oz. fresh orange juice
1 oz. fresh lime juice
.25 fresh lemon juice
1 oz botanical (alcohol-free) gin
__________________________
3 oz. Saka
2 shakes Angostura Bitters
Large cube ice
Orange slice
Fresh mint
__________________________
Prep
Prechill burgundy glass
Rub inside with freshly slapped mint (releases the oils)
Add ice
Add orange slice
__________________________
Fill a Boston Shaker 3/4 with ice
Add the juices and cap. shake hard
Pour over ice
Top with Saka
Dot with Angostura
Float the gin on top and sip through.
___________________________


StaffStaffOctober 24, 2019
Tracey-Mason-Headshot-2019-1280x1214.jpg

4min4710

Tracey Mason is a 25–year veteran of the adult beverage industry with experience in nearly every facet. She has held executive–level marketing positions at some of the world’s largest beverage companies, including Diageo, where she worked her way up from sales management to Director of Commercial Innovation, and Fosters Wine Estates, where she held the position of Vice President of Marketing/Innovation until 2006, when she left to pursue her dream of running a small business. 

As Vice President of Sales and Marketing at Epic Wines, a mid–sized, California–based distributor of fine wines, Tracey honed her leadership and financial management skills while leading the company toward extraordinary growth. She left Epic in 2008 to take an equity position at ProVina Inc, a Silicon Valley startup focused on technology–based innovation in winemaking, and began consulting to a number of established and start–up companies, including Golden Star Tea and Clos de la Tech Winery.

In 2010, Tracey was drawn back into the corporate world to take the role of Executive Vice President of Global Marketing at Goelet Wines Estates (GWE). There, she championed the repositioning and renaissance of the iconic Clos Du Val Winery, solidifying her position as a brand renovation specialist.

Tracey left GWE in April 2013 and launched M3G, Inc. Today, M3G is leading brand marketing, PR, innovation and renovation projects for some of Northern California’s most renowned companies, including Valley of the Moon Winery, Silverado Vineyards, ZIATA Wines and others.

Title: Co-founder & CEO

Company: House of Saka, Inc.

Years at current company: 1.5

 

Green Market Report Executive Spotlight Q&A:

Most successful professional accomplishment before cannabis: President and Creative Director of M3G-Inc, My own consulting company.

Company Mission: To create the most luxurious and consistent female-centric cannabis-infused product experience ever offered.

Company’s most successful achievement: Acting as true innovators and trailblazers to bring our beautiful products to market in the manner in which we envisioned.

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

Any plans on raising capital in the future? Yes, Series A pending, Q1 2019

Most important company 5 year goal: To be broadly acknowledged as the leading female-run company in cannabis in the US as determined by category leading brands, meaningful philanthropy, success-driven company culture, shareholder value and, of course, profit.


Debra BorchardtDebra BorchardtAugust 30, 2019
PLUS3.jpg

5min5900

California-based cannabis edible company PLUS Products Inc. (CSE: PLUS) (OTCQB: PLPRF) delivered its unaudited financial results for second-quarter ending June 30, 2019, with revenues climbing 125% to $3.6 million over last year’s revenues of $1.6 million. The company experienced a 10% increase sequentially over the first quarter of 2019. The net loss for the quarter was $5.3 million versus last year’s net loss of $1.1 million for the same time period.

Gross margins jumped 20% in the second quarter to $0.7 million as compared to $0.2 million or 14% in 2018 for the second quarter as the company improved operating efficiencies.

“Our high product standards, growing brand recognition and the launch of our new line of mints drove strong demand for our products this quarter, cementing our position as a top-selling cannabis brand in California,” said Jake Heimark, co-founder & Chief Executive Officer of the Company. “For the 5th consecutive quarter, PLUS “Uplift” was the #1 best-selling cannabis product in California in dollars sold, according to data from BDS Analytics.”

Operating expenses jumped to $5.3 million in the quarter up from $1.3 million as the company hired key management personnel.  PLUS said that it continues to invest in sales, operations and corporate personnel to support current future growth opportunities, as well the costs of being a public company.

Heimark addressed the new hires saying, “We also expanded our management team by appointing Jon Paul, a veteran senior corporate finance executive and certified public accountant, as Chief Financial Officer, and Marc Seguin, former president and CMO of Popchips, as Chief Revenue Officer, to lead our sales strategy. Mr. Seguin is one of the first executives to leave the food industry for a non-hemp, cannabis touching company and we are proud to be attracting such high calibre talent to the Company as we lay the framework for continued growth.”

Looking Ahead

PLUS Products cash balance rose to $34.1 million at the end of June up from $22.4 million as of December 31, 2018. The company raised $23.68M from the sale of convertible debentures and as a result of warrant exercises in the first six months of 2019. The company launched a new line of mints and is planning an expansion into Nevada by partnering with TapRoot Holdings. PLUS gummies are expected to be available in the state at some point in the second half of 2019.

“Looking ahead to the second half of 2019, we are implementing several initiatives to drive our strategic growth plan, including ramping distribution of our new PLUS Mints line into more dispensaries in California, initiating sales of our gummies in Nevada supported by a comprehensive sales and marketing campaign in both states, and launching new SKUs. Beyond these initiatives, the company is actively exploring entry into additional markets beyond California and Nevada. We see this as a key growth lever as we work to build a national brand, and are confident in our ability bring the winning formula we have developed in California to new markets,” concluded Mr. Heimark.

During the quarter the stock was uplisted from the OTCQB to the OTCQX. The stock was lately trading at $3.07, above its 52-week low of $2.52.

 


Anne-Marie FischerAnne-Marie FischerAugust 27, 2019
drink-2.jpg

8min7180

What could have been a threat to alcohol and the beverage industry, has now turned into one of the beverage’s biggest opportunities since hops met barley.

Both the cannabis and beverage industries saw dollar signs when Constellation Brands added a $4 billion investment to its already ample investment into Canopy Growth. The beverage biggie, that owns Corona, certainly turned heads as cannabis brands, and leading beverage companies began inking deals to ensure their brands showed up in drink coolers across the country. 

Headset recently came out with an extensive report examining the rapidly developing cannabis-infused beverages industry, stating that although beverages don’t make up the majority of cannabis product sales, they are “a category within cannabis that’s worth watching.” 

The Growth of Infused Beverages

While market share has experienced an incremental increase, the overall market for infused beverages has doubled, moving from $1.5 million to $3 million in 2019. 

Infused beverages sales are concentrated in Washington, Colorado, and Nevada. California will be next to enter the beverages race when Lagunita’s HiFi Hops hits the shelves. Most recently, in Q2 2019, Washington led in beverage sales ($4.2 million), followed by Colorado’s $3.9 million. 

What Are People Drinking?

Infused sodas are reigning supreme in the beverages category, gaining 3.9% of the overall beverages market share. Surprisingly, warm drinks like teas, coffee, and hot cocoas lost market share, as did Iced Tea, Lemonade and Fruit Drinks. Infused sodas accounted for 70% of Washington’s beverage sales in 2019, while in Colorado and Nevada, 18% and 26% of respective sales were represented by soda. 

“Mocktails” also made gains over the last year, but the impact is not yet significant enough to believe that cannabis will become an alcohol replacement drink, although Nevada can attribute 12% of beverage sales to cannabis mocktails, which is aligned with Vegas’ reputation as a party town.

Headset even went as deep to look at the flavors that people were preferring. In Washington, lemon, lime, orange, and apple flavors make up 52% of the infused soda market, with the rest of the flavors being made up of distinct fruit flavors like huckleberry, hibiscus, and honeydew, just to name a few. In Colorado, the majority of the soda consumers prefer a flavorless beverage (this is also because drops, mixes, elixirs, and syrups sell the most in this state); in California, they love the taste of cold tea; and in Nevada, Fruit Punch tickles the most palates. 

Headset attempted to compare the prices people are willing to pay for beverages across states, but couldn’t find any correlation. For example, Tea, Coffee, and Hot Cocoa are amongst the highest priced items in Nevada, but of the lowest-priced items in Washington. Headset speculates that there is a different brand landscape in each state that attributes to these nuances in what people are willing to pay.

Getting “Buzzed Over Stoned”

In 2017, 100mg THC infused products made up most of the market share at 90.9%; in 2019, it’s dropped 67.1% and has been replaced by microdosed formats in the 0-5mg range. This leads Headset to conclude that “consumers are more interested in getting buzzed than stoned.” If people are indeed using cannabis-infused beverages for alcohol-replacement, they are likely consuming multiple beverages in one sitting, as they do beer or wine. Despite speculation, Headset projects that there is “a lot of room for low dose beverages”.

The Who and Why of Infused Beverages

Perhaps surprising, the Silent Generation is the largest consumer of infused beverages in Colorado, while in Nevada, enjoyment of these beverages is more evenly distributed across age groups. It makes more sense when you remember that in Colorado, drops, mixes, elixirs and syrups are of the leading product categories, which makes it easy for people of the Silent Generation to easily dose cannabis in a cup of tea.

POS data collected by Headset suggests that cannabis-infused beverages are an impulse buy or an add-on item. People buying beverages are usually purchasing pre-rolls or edibles and throw in beverages as a last thought. Beverages are most commonly bought alongside edibles, suggesting that beverages are more appealing to those who do not prefer to smoke or combust their cannabis.

CBD is Having Its Moment

CBD infused beverages are currently holding at 25% of the infused beverages market share, according to Headset. With the passage of the U.S. Farm Bill of 2018, hemp-derived CBD products could be a threat to THC-infused beverages that can now be sold in coffee shops and retail stores.

Crack Open a Cold One

The cannabis-infused beverages market isn’t yet massive but shows a great opportunity for cannabis and CBD companies to get in on the ground. Headset has concluded through their analysis of 4 states that tracking and predicting data trends across states is not linear, and that piecemeal, state-by-state legalization affects sales. This shows that brands in individual states are shaping the markets of those states. Had cannabis been federally legalized, it would be easier to notice more consistencies across consumer preferences. 

Headset predicts that sodas will continue to grow, as will mocktails. People are now getting into lower dose beverages, recognizing that it’s rare that people can consume a 100mg beverage in one sitting. 

While Headset was reluctant to name cannabis-infused beverages as an alcohol replacement, several data points such as lower doses and the rise in popularity of sodas show that cannabis-infused beverages are becoming part of social circles and scenes.

 


StaffStaffJuly 10, 2019
Jill-Ellsworth-MS-RDN-Headshot.jpg

6min7290

Jill Ellsworth is founder and CEO of Willow Industries, Inc., which provides state-of-the-art, ozone-based technology for post-harvest microbial decontamination. Upon launching Willow Industries in 2015, Jill’s aim was—and remains—to protect consumers and patients by helping producers put clean, safe product on the market. 

Willow’s technology has proven to reduce yeast, mold, bacteria, mildew, E.Coli, and other dangerous pathogens, all while protecting the medicinal properties of the plant. The introduction of the WillowPureSM system to the market has provided growers a solution to passing newly set state regulation standards. 

Fueled by her passion for innovation and dedication to healthier living, Jill is a vocal advocate for the cannabis industry’s adoption of FDA-like standards and proactive promotion of safety measures.

Jill serves on the Cannabis Health and Safety Advisory Committee for the City of Denver and is a Registered Dietitian Nutritionist (RDN) with a Master’s of Science in Nutrition, Dietetics, and Food Science.

Prior to launching Willow Industries in 2015, Jill founded Vibrant Earth Juices (VEJ), a cold-pressed organic juice company, in 2010 and later parlayed VEJ into a beverage distribution company.

In 2013, Jill was named Female Entrepreneur of the Year in Emerging Business by the Santa Barbara Women’s Economic Ventures group. Most recently, Jill was selected by Marijuana Business Daily as one of their 2019 Women to Watch in Cannabis. She has also been honored by cannabis lifestyle magazine, GreenDorphin, as one of the 20 Most Influential Women in Cannabis and Industry Leaders Magazine as one of the Influential Businesswomen in the Cannabis Industry.

GMR Executive Spotlight Q&A – 

Full birth name: Jill Lynn Ellsworth (Maiden: Latham)

Title: Founder / CEO

Company: Willow Industries, Inc. (https://willowindustries.com/)

Years at current company: 3.5 years

Education profile: 

BS Communications – California State University, Northridge 

MS Nutrition, Dietetics & Food Science – California State University, Northridge 

Dietetic Internship : Registered Dietitian  – Cal Poly San Louis Obispo

Most successful professional accomplishment before cannabis: I am most proud of the cold-pressed, organic juice business, Vibrant Earth Juices, I founded and launched in Santa Barbara, CA in 2011 and Denver, CO in 2013. Vibrant Earth was one of the first fresh juice companies in Santa Barbara and Denver and quickly became very successful. From this, I was named Female Entrepreneur of the Year – Emerging Business in 2013. This was the start of my vision to develop innovative products and/or solutions for consumers. 

Company Mission: Willow Industries strives to be the cannabis industry’s most reliable and innovative solution for producing clean, safe cannabis that consumers can trust.

Company’s most successful achievement: Willow’s most successful achievement was innovating a solution to a huge problem in the industry – microbial contamination. While we were very ahead of our time when we first launched Willow, we remained focused and patient, knowing the industry needed to catch up to our vision and what was important to the future of the industry. Staying the course and not giving up before the industry understood our value is our most successful achievement. Now with many cultivators adopting our tech, we continue to focus on our vision and goals.

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

If so, how much?: We have raised $2 million. 

Any plans on raising capital in the future? Certainly. We have very aggressive and aspirational goals that will lead us to the need for more financing. Right now, we are focused on executing our plans for the most recent funding round. 

Most important company 5 year goal: We look for Willow to become a standard for consumer safety in the cannabis industry (modeling safety standards from the food & beverage industries) and for cultivators to see Willow as the solution for clean cannabis. We are focusing our efforts on cannabis compliance and helping to educate the regulatory sector of the industry as well. We will continue to push the boundaries for clean cannabis innovations, while keeping consumer safety at the focal point of our goals.

 

 


StaffStaffJuly 9, 2019
Erin-Gore-Headshot.jpeg

7min6920

Erin Gore is founder and CEO of Garden Society, a California-based, cannabis-focused benefit corporation serving women in search of new, more holistic ways to rejuvenate from the rigors of their daily lives. Garden Society creates artisanal confections and sun-grown pre-rolls that connects biodynamic farming, sustainable ingredients and strain-specific cannabis in a variety of products. 

Garden Society stems from Erin’s personal journey of striving to find balance in her life, as both a mom and entrepreneur, and being surrounded by women feeling the same pressures. Alongside her business partner, Karli Warner, the company is built on their shared passion to encourage women to explore non-traditional ways of managing pain, anxiety and stress relief, as well as relaxation and joy via cannabis– all a means of providing a better quality of life. 

Three years since founding, Garden Society is now a flourishing, well-rounded cannabis wellness brand poised to reach and help women across the state of California enrich their lives with safe and clean cannabis. 

Erin is an active member of the Northern California cannabis community, and frequently speaks on the topics of cannabis and entrepreneurship. She’s a fearless advocate for women-owned cannabis businesses, and equally dedicated to breaking the stigma and rewriting the script around the plant. With a degree in Chemical and Biological Engineering from the University of Wisconsin-Madison, Erin is also fluent in the science-based talk of cannabis and production. 

Prior to Garden Society, Erin worked with her husband Tom on their joint venture with Constellation Brands on Tom Gore Vineyards, an award-winning farmer’s wine. Before the wine business, she had a decade-long corporate career at Henkel, where she managed a global adhesive business valued at nearly $100 million. Her time at Henkel provided a solid foundation in leadership, development, and achieving exceptional financial results.

GMR Executive Spotlight Q&A – 

Full birth name:  Erin Kay Gore

Title:  Founder/ CEO

Company:  Garden Society

Years at current company:  3

Education profile:  BS in Chemical and Biological Engineering

Most successful professional accomplishment before cannabis:

My most successful accomplishment at my previous company was having the career path I did, on my terms, with the colmenation winning Business of the Year.  I was faced with a lot of challenges and adversity throughout my career being one of the few women in my division within the technical and business units of a chemical CPG company.  I worked hard to build excellent EQ to overcome these challenges, and create opportunities for myself by intentionally managing up and being a good team player.. I excelled at every opportunity I earned through listening, creativity, being coachable, hard work and grittiness to get the job done.  Right before I resigned, I won Business of the Year with my team. I thought back to the first position I had at the company, and was so proud of how intentional I had been using every difficult situation to help me grow as a leader and employee, and also to demonstrate how diversity of age and gender can be an asset to every team.

Company Mission:  Garden Society is a benefit corporation creating a sisterhood of women in search of new, more holistic ways to rejuvenate from the rigors of our daily lives. 

Founded in Sonoma County by Erin Gore and Karli Warner in 2016, Garden Society offers high quality cannabis-infused confections and sun-grown flower pre-rolls that connect biodynamic farming, sustainable ingredients and strain-specific cannabis in a variety of products. Garden Society edibles and pre-rolls are intended to be enjoyed responsibly to relieve pain, alleviate stress, and enable each of us to live our lives more fully. Our goal is to help everyone find a ‘Fresh Perspective’ in the joy that cannabis brings to our everyday lives!  

OUR MANIFESTO:  We are girlfriends, wives, moms, sisters, bill-payers, breadwinners, caretakers and peacemakers. We are multi-taskers, with a huge passion to pursue all this world offers. We are a sisterhood of like-minded women. We are pioneers, in search of new, more holistic ways to rejuvenate from the rigors of our daily lives. We seek new ways to regain perspective—and constantly look for ways to make the ordinary, extraordinary.  We are NOT superwomen, but we ARE amazing.  Welcome to Garden Society.

Company’s most successful achievement:  To be in a position post July 2018 where we are continuing to build a strong brand presence and scaling so quickly that we have to raise capital to propel our growth to its potential. Also, that we’re really helping people find a better life for themselves.  I’m so inspired by how we help people and so proud of what we’ve built.

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

If so, how much?:  Initial Investment in 2018 of $1.3M.  

Any plans on raising capital in the future?  Yes, currently fundraising to continue to propel our fast growth.  

Most important company 5 year goal:  In 5 years, we will continue pushing towards our vision of becoming one of the most positive, powerful and trusted global cannabis brands for women, with quality products that matter to both consumers and partners.


StaffStaffMay 13, 2019
Screen-Shot-2019-04-30-at-8.30.56-PM-1-1280x840.png

5min8271

Infused beverages are a growing trend in the cannabis industry. According to the food and drink consultancy group Zenith Global, sales of cannabis-infused beverages are expected to reach $1.4 billion by the year 2024.

While most companies, like Lagunitas or Constellation Brands, are focused on dominating the cannabis beer market, a smaller group of brands are aiming at filling the demand for cannabis wine. One such company is House of Saka.

Formed by women for women, House of Saka is a brand dedicated to the development of luxury-infused relaxation, beauty & wellness products for sophisticated cannabis consumers around the world. Last month the company officially debuted its line of luxury infused beverages, dubbed Saka Infusions, at an exclusive launch party in Napa Valley, California.

Serendipitously taking place during the rise of the Pink Moon, House of Saka premiered its pink cannabis beverages inspired by Rosé wines before an audience of top executives from throughout the wine industry, beer industry, and cannabis industry. The event was organized by Nicki Wolfe, one of the wine country’s most premier event planners.

“Boldness and innovation is the key to the new cannabis game, so when House of Saka Founder Cynthia Salarizadeh approached me, I said, I’m in, as long as I can make it unique, special, and focused on the guest experience,” said Wolfe. “We wanted House of Saka’s launch to exemplify all that is special about wine country.”

Called High Fete: The Most Luxurious Evening in Cannabis, the event lived up to its name; featuring extravagant décor and a sumptuous selection of appetizers, beverages, and a full-course meal that featured vegan, vegetarian, and gluten-free options. Interspersed throughout the venue were samples of Saka, allowing the guests to try the infused beverage for the first time.

As the four-hour event came to a close, House of Saka founders Cynthia Salarizadeh and Tracey Mason were on hand to thank their guests and reaffirm their brand’s mission.

“The concept for the House of Saka was to build the perfect luxury brand owned and operated by the most powerful and influential businesswomen across cannabis and wine, and we are confident that we have achieved this,” said Salarizadeh.

 

“From that start, we envisioned House of Saka to set the bar for female-centric, infused-luxury products in both the cannabis and CBD space,” added Mason. “Brands like House of Saka are the future of the industry and a platform from which we hope to inspire female entrepreneurs and draw women toward the extraordinary plant that is cannabis.”  

 

 

 


StaffStaffMay 2, 2019
plus-gum-jake-haimark-1-1280x960.jpg

6min7980

Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) reported its results for the fourth quarter and calendar year ending December 31, 2018. The quarter’s revenues were $3.3 million and the company delivered a net loss of $2.9 million. This was an increase in sales of 770% over 2017 for the same time period and a 31% sequential increase.

The 2018 full-year revenues increased by 681% to $8.4 million versus the 2017 revenues of $1.1 million. Expenses grew to $7.9 million last year versus $2.5 million in 2017.

The company said that the revenue growth was attributed to sales of Plus Products’ concentrated brand portfolio of four full-time SKUs and one rotating seasonal. In addition, the company said it continued to increase its production capacity, which allowed its distributor to build up inventory to better service over 300 dispensary customers throughout California.

“We remain proud that PLUS had significant growth in both revenue and market share in a year where the greater legal California cannabis market shrank and underperformed expectations due to unclear regulations and an increase in underground market sales,” said Jake Heimark, co-founder & CEO of PLUS Products. “We look forward to greater regulation and increased enforcement in 2019 that will allow the legal industry to continue to prosper and help us continue on our mission of making cannabis safe and approachable for everyone.”

chart

Plus Products said in its statement that according to retail analytics firm Headset, the PLUS Uplift Sour Watermelon gummy was the top-selling branded product of the more than 20,000 products sold across all cannabis categories in California in 2018. Also, according to BDS AnalyticsPLUS “Uplift” and PLUS “Restore” remained the #1 and #2 best-selling edible products in California. Although PLUS had strong growth in 2018, BDS Analytics also found that in 2018 there were 17% less legal sales in California cannabis sales than in 2017 as the California market struggled with licensing challenges, regulatory changes, taxes, and new testing, labeling and packaging requirements.

watermelon

Financial Highlights

Plus Products noted the following financial highlights in its statement:

  • The company’s unaudited cash balance climbed to $22.4 million at the end of 2018, up from $0.2 million at the end of 2017 and $11.1 million as of September 30, 2018, prior to the initial public offering in October.
  • Net working capital was $22.4 million at December 31, 2018 compared to a deficit of $0.1 million the previous year-end. Liabilities at year-end 2018 were only $2.2 million.
  • The company raised $29.7 million in capital, net of capital raising costs, during 2018, including the initial public offering in October.
  •  The loss per adjusted uncompressed weighted average share climbed to $0.07 per share in the 4th quarter 2018, up from $0.05 per share in the 3rdquarter, totaling $0.23 per adjusted uncompressed weighted average share for 2018. The loss for 2018 was $2.9 million for the 4th quarter and $6.8 million for 2018.

Debra BorchardtDebra BorchardtMarch 6, 2019
namaste2.png

5min10700

Namaste Technologies Inc.  (TSXV: N)  (OTCMKTS: NXTTF)  continues to see its troubles compounded following the recent scandal involving the company’s founder and former CEO Sean Dollinger. On Wednesday the company confirmed that its auditor PricewaterhouseCoopers, LLP resigned and will no longer be acting as the company’s auditor. Namaste said it was in advanced discussions with potential successor auditors, one of whom is in the final stages of its client acceptance process.

As a result of this situation, the company said it would probably be unable to file its financial statements that are due by March 31, 2019.

Irregular Advertising in Brazil

Namaste also noted that the National Heath Surveillance Agency (Anvisa) in Brazil advised the company that it has identified irregular online advertising of certain tobacco products on a website operated by Namaste and have advised that they are proposing to commence administrative proceedings in relation to same. As a result, Namaste is “temporarily suspending the sale of all of its products in Brazil pending a full compliance review with external counsel and other advisors. Sales of such products in Brazil are expected to represent approximately 8% of Namaste’s estimated revenue globally for the 15 months ended November 30, 2018.”

Suspension of Businesses

Namaste said it was reviewing all of its initiatives and as a result decided to let some of them go. These include the introduction of Namaste Café, a cook book and the H.E.A.L. product line in relation to its previously announced franchise distribution model. In addition, Namaste said it has “provided formal written notice of the termination of its agreement with ORH Marketing Ltd., in accordance with its terms. Management believes that the termination of these marketing and related initiatives can be achieved with minimal business disruption, and is expected to result in annual cash savings of approximately $3 million, which is net of expected transition costs.”

Acquisition

Somehow, in the middle of all this corporate mess, Namaste announced that it was acquiring 49% of the issued and outstanding shares of Calgary, AB-based Choklat Inc. for $1.5 million in cash.

According to the statement, Choklat is a  chocolate manufacturer with existing sales through its online eCommerce site and through a network of distributors across Canada. Choklat has recently entered into a supply relationship with Sobeys and already has product in 25 stores in Alberta with a goal to roll out in Western Canada and beyond in the coming months. As part of the acquisition, Namaste will be appointing a member to the Board of Choklat.

“Choklat is a great acquisition for us with a vast offering of existing products that can be easily infused with THC or CBD and sold as edibles,” said Meni Morim, Interim CEO of Namaste Technologies Inc. “Their small batch manufacturing model is a great fit within the new proposed regulations for edible cannabis products. This transaction provides the security of supply and manufacturing for our medicinal cannabis customers and provides capacity for the recreational market in the event proposed regulations are passed.”

“Almost two years ago I used my own prescription to personally research the concept of infusing chocolate and sugar with cannabis,” said Brad Churchill, Choklat Founder, and CEO. “As one of the only chocolate makers in Canada I had access to equipment and processes that other chocolatiers and confectioners don’t have.  My research led me to discoveries which, when legal, will allow us to infuse both THC and CBD into chocolate and sugar in such a way that there is absolutely no discernible “weed” flavour or smell, and with a dosage accuracy that is almost pharmaceutical grade.”


StaffStaffFebruary 5, 2019
shutterstock_1014599125.jpg

8min14670

Americans are expected to spend a record amount on Valentine’s Day this year despite a years-long decrease in the percentage of people celebrating the holiday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

“The vast majority of Valentine’s Day dollars are still spent on significant others, but there’s a big increase this year in consumers spreading the love to children, parents, friends, and coworkers,” NRF President and CEO Matthew Shay said. “Those who are participating are spending more than ever and that could be the result of the strong economy. With employment and income growing, consumers appear to be expanding the scope of who qualifies for a card or a box of candy.”

Another study from St. Louis University in Missouri,  found that cannabis could improve your love life. 133 women were surveyed and said that they consumed cannabis shortly before engaging in sexual activity. 68% of those women said that it made sex more pleasurable. From that same study, 62% of participants said that cannabis helps them achieve a more satisfying orgasm.

A different study from Stanford found that women who abstained from cannabis in the past year, had sex on average 6.0 times during the previous four weeks, whereas that number was 7.1 for daily cannabis users. Among men, the corresponding figure was 5.6 for nonusers and 6.9 for daily users. That means regular cannabis users are having 20% more sex than abstainers.

Foria

Foria makes a sun-grown cannabis CBD arousal lube and the company is offering two bottles of its product Awaken for the price of one as a Valentine’s Day special. The company says if you order by February 7, you’ll receive it in time for the holiday.

Canndescent

 

California’s leader in ultra-premium flower Canndescent  has a product called Connect, which seems perfect for Valentine’s Day. Their Connect strains are formulated specifically to kindle socialization and deep connections with other people – perfect for your romantic evening plans. Sadly, it’s only available in California. Gorgeous gift boxes with ⅛ of flower are available at licensed California dispensaries, as are the newly-launched and extremely classy Stylus rechargeable and Ready-To-Use vaporizer pens.

Papa & Barkley

Interested in a massage? Papa & Barkley’s cannabis-infused Releaf Body Oil is the right choice.

Papa & Barkley’s full line is available in California, but everyone else can enjoy their Essentials line, which offers a hemp-based CBD oil, which can be put in any drink, food, or a nice, relaxing bubble bath.

 

MOOD33

Want to set the mood… without relying on alcohol? mood33 has crafted a delicious PASSION tonic that is infused with THC, CBD and uplifting natural terpenes – all under 33 calories per beautiful bottle. Inspire yourself and your partner with the sensuous flavors of sparkling green tea, sweet passionfruit and tart lime.

 

Bhang

Roses-with-CBD-and-Pre-rolls2.png

Guilt-free chocolate is the way to your love’s heart. Bhang makes a delicious 73.5% cacao CBD dark chocolate that is not to be believed. The company also makes a new nicotine-free tobacco-free all hemp Pre-Roll Straights. The Bhang team brings together its love of chocolate and cannabis in the most awarded line of cannabis chocolate bars available in the world. Developed by a Master Chocolatier with 25+ years of chocolate-making experience, these artisan bars pair the best in Venezuelan Criollo cacao with adventurous flavors and high-quality, lab-tested, CO2-extracted cannabis oil.

Ardent Cannabis

 

More of a DIY person? Try Goat’s Milk Sweet Quartet Caramel Infusion Kit that retails for $35. You can make delicious, dispensary-grade edibles from the comfort of your own home— elevate any treat by simply drizzling over a dessert and/or dipping your favorite fruit!. Lactose-free flavors include: Original Caramel, Spicy Dark Chocolate, Salted Bourbon and Vanilla Bean

Fog & Tree

Still not satisfied? Oil, chocolates, beverages still aren’t the perfect gift? How about

Fog & Tree Eau de Parfum, an all natural fragrance that is blended with real cannabis terpenes, could be exactly what your loved one is looking for. The fragrance will take your senses on a journey through the Redwoods of Northern California with the woodsy and herbaceous scent with fresh coastal fog.

The terpenes used in Fog & Tree are all harvested from Humboldt Seed Company’s proprietary strains. Not only are they blending their fragrance with terpenes from award-winning genetics, but they are also reaping the benefits of Humboldt’s unique terroir.



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 1 day

Our biggest fans this week: WallandBroad, IMITAKCO, Gambiste1. Thank you! via

@GreenMarketRpt – 2 days

My week on Twitter 🎉: 1 Mention, 823 Mention Reach, 4 Likes, 7 Retweets, 29K Retweet Reach. See yours with…

@GreenMarketRpt – 2 days

Our biggest fans this week: WallandBroad, IMITAKCO, Gambiste1. Thank you! via

Back to Top

You have Successfully Subscribed!