Videos Archives - Green Market Report

Video StaffVideo StaffNovember 20, 2020

3min3000

Once again it was another big week for earnings from some of the industry’s biggest players. 

Curaleaf (CURLF) reported total revenue of $182 million. A 195% increase over last year.  Still, the company had a net loss of $9.3 million. Current Curaleaf President, Joseph Bayern, has been appointed as the company’s next CEO. The current CEO Joseph Lusardi will be named Executive Vice-Chairman of the Board

Cresco Labs Inc.  (OTCQX: CRLBF) released its unaudited financial results for the third quarter with revenue hitting $153.3 million. This was a 63% sequential increase over the second-quarter revenue of $93 million and an even bigger jump over last year’s revenue of $36 million for the 2019 third quarter. The company also delivered a net income of $4.9 million for the quarter versus last year’s net loss of $85 for the same time period last year.

Trulieve Continues to Flex With Strong Revenue Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) reported revenue of $136.3 million for the third-quarter ending September 30, 2020. This was a 13% sequential increase over the second quarter and topped the analyst estimate for revenue of $131 million. Trulieve also delivered a positive net income of $17.4 million

Cannabis multi-state operator, Ayr Strategies, reported their third-quarter earnings today and revenue was up 61% quarter over quarter. The company reported a revenue of $45.5 million. 

The smoking accessory e-commerce giant Greenlane Holdings, Inc. (Nasdaq: GNLN) reported that its net sales fell 20% to $35.8 million in the third quarter ending September 30, 2020 versus $44.9 million in the 2019 third quarter. 

Vertically-integrated cannabis company, Harborside Inc., reported strong third-quarter results. The company reported total gross revenues of $19 million for Q3 of this year, up from $16 million in the second quarter. 

Captor Capital Corp. (CSE: CPTR) announced its common shares will no longer be traded through the facilities of the OTC in the United States. The U.S.  SEC has revoked the registration of the shares because the company has not been filing continuous disclosure documents.

Next week is Thanksgiving and we wish everyone a happy holiday. There will be no Marijuana Money next week. 


Video StaffVideo StaffNovember 13, 2020

5min3100

Verano Holdings, LLC is buying and merging with Alternative Medical Enterprises, LLC, Plants of Ruskin, LLC,  called AltMed to create the largest privately-owned cannabis company. The value of the transaction was not disclosed. Earlier this year Harvest health killed its plan to buy Verano in a deal valued at $850 million.

 It was a huge week for earnings with numbers coming from some of the biggest players. We’ll break it down into a winners, losers amd meh category. 

The winners are 

Green Thumb Industries or GTI had another tremendous quarter with revenue increasing 131% to $157.1 million. Revenue growth was driven primarily by the increased scale in the company’s Consumer Packaged Goods and Retail businesses.  

Canopy Growth Corporation (NYSE: CGC) reported net revenue of $135.3 million for the second fiscal 2021 quarter causing the stock to jump. This was a 77% increase over last year’s fiscal second-quarter revenue of $76.6 million. Still, Canopy delivered a net loss of $96.6 million versus last year’s net income of $242 million for the same time period.

Grow Generation is a specialty garden center with 31 locations across 11 US states. The company recently released their third quarter earnings, and reports that, “Revenues rose 153% to $55.0 million, for third-quarter 2020, versus $21.8 million for the same period last year.” 

Harvest Health & Recreation Inc. (OTCQX: HRVSF) reported revenue rising 86% in the third quarter to $61.6 million. This was a sequential increase of 11% 

Acreage Holdings, (OTC: ACRHF, ACRDF) reported their third-quarter revenue of $31.7 million, a 42% increase compared to the same period in 2019. It also was a 17% increase compared to the second quarter.

In the so so category:

Aurora reported a slight increase in total and net revenue in Q1, with numbers reaching $67.8 million, but then the company announced a $125 million offering and that was not well-received by shareholders because of the company’s elevated cash burn

Tilray, Inc. (Nasdaq: TLRY) reported that its total revenue for the third quarter was flat at $51.4 million and up 2.0% sequentially. Net losses fell to  $(2.3) million 

Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) reported  that its revenue  was rising to $25.2 million only a tiny bit better than the $25.1 million in 2019. The net loss was $6.6 million which was higher than last year’s net loss of $1.3 million. 

Not so great earnings included

Canopy Rivers Inc. (OTC: CNPOF) which acknowledged taking a $112 million hit for its PharmHouse investment.  The total comprehensive loss for the quarter was $87.0 million.

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI),shares plunged this week on an  underwritten public offering of units for C$60 million. 

In psychedelic news, Cybin began trading this week and Compass reported that it has enough cash to last it through 2023. 

 


Video StaffVideo StaffNovember 10, 2020

1min960

Mike “Zappy” Zapolin participates in both sides of the psychedelic marketplace. He’s an advocate for the use of psychedelic drugs and fights for legalization with his group, the Mind Army. He’s also a businessman and is building a ketamine company because of his passion for treating people. Green Market Report was able to chat with Zappy on several psychedelic topics. Thank you for watching the Green Market Report! Be sure to subscribe to our channel. It’s free.


Video StaffVideo StaffNovember 6, 2020

5min2871

Despite not officially deciding the presidential election, american’s made it clear they wanted legal cannabis as five states passed some form of legalization. Arizona, Montana, New Jersey, and South Dakota have all legalized marijuana for adults 21 and older, as voters in each state approved their respective ballot initiatives at the ballot box. New jersey was closely watched as many see this decision as tipping the big market of New York to legalize adult use cannabis.

 

Psychedelic legislation was also a big winner this week. In Washington D.C., the decriminalization law  Initiative 81 secured enough votes from residents to pass. The plants and fungi covered by Initiative 81 include psilocybin mushrooms, ayahuasca, iboga, and mescaline-containing cacti, which can help those suffering from depression, anxiety, and addiction.Oregon became the first state in the country to legalize psilocybin as voters in the state passed Measure 109. The measure will allow regulated use of psychedelic mushrooms in a therapeutic setting. The product will have to be stored and administered at licensed facilities.

We’re just starting to kick off earnings season.

GW Pharmaceuticals plc reported total revenue of $137.1 million for the quarter ending September 30, 2020, a big jump over the $91.0 million for the same time period in 2019. This beat the Yahoo Finance average analyst estimates of $127 million for revenue.

The market was cheered by the drop in net losses to $12.2 million versus last year’s net loss of $13.8 million for the 2019 third quarter. 

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) announced preliminary financial results for its third-quarter ending September 30, 2020, with net sales of $51.0 million, representing 8% sequential and 90% year over year growth. All amounts are in Canadian dollars. TerrAscend did not say whether there were any net profits or losses.

Innovative Industrial Properties, Inc. (IIP)(NYSE: IIPR) reported total revenues of approximately $34.3 million for the third quarter ending September 30, 2020. This was a 197% increase from the prior year’s third quarter. 

Acquisitions continued to happen this week.

Aphria Inc. (TSX: APHA) (Nasdaq: APHA) entered into an agreement of merger and acquisition to acquire SW Brewing Company, which is one of the largest independent craft brewers in the United States based on volume in a deal valued at $300 million. 

Ayr Strategies (OTCQX: AYRSF) announced it is buying a vertically integrated operation in Arizona, including cultivation and processing facilities and three licensed dispensaries in a deal valued at $81 million.

GrowGeneration Corp. (NASDAQ: GRWG) continues to add to its stable of hydroponic stores with the latest acquisition being The GrowBiz. GrowGen did not disclose how much it paid for the chain, which is the country’s third-largest, but did note that it is expected to deliver $50 million in annual revenues. The deal is expected to close before fiscal year-end 2020.

Canopy Growth (CGC) has announced that it will be transferring its U.S. stock exchange listing from NYSE to Nasdaq on November 13, 2020 after market close. 


Video StaffVideo StaffOctober 30, 2020

6min2740

Happy Halloween everyone. This has certainly been a scary year and let’s celebrate that there are only 2 months left in 2020. This week the Dow fell over 2,000 points as fears of another covid lockdown took over amidst rising hospitalizations.

It apparently seemed like a good week to plan on issuing more shares

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) filed a new prospectus with securities regulators to make offerings of up to $500 million of common shares. Akerna Corp. (Nasdaq: KERN) has priced a public offering of 5,000,000 shares of its common stock at a public offering price of $2.40 per share. 

TILT Holdings Inc.  (OTCQB: TLLTF ) announced preliminary financial results for the third quarter ended September 30, 2020, the promotion of Gary Santo to President of TILT, and the appointment of Brad Hoch as TILT’s permanent chief financial officer. Third-quarter revenue is expected to be  $40 – $41 million, a 4% – 6% increase from Q2 2020 revenue of $38.6 million.

California-based cannabis company Hollister Biosciences Inc.(OTC: HSTRF) gave an update on its third-quarter 2020 performance sales figures. The company said it generated record quarterly revenue of C$ 12.5 million. The company did not state whether there was any net loss or profits for the third quarter. These figures would be a sequential increase over the revenue from the second quarter ending June 30th, 2020, which was $8.47 million.

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF ) announced that Victor Mancebo has resigned from the Board of Directors and his role as Chief Executive Officer, effective December 31, 2020. George J. Gremse, a member of the Board of Directors, has been appointed as Interim CEO. This comes after shareholders expressed dissatisfaction with the company’s disappointing cannabis production in the state of Florida

Real Brands Inc. (OTCPK: RLBD) has completed a reverse merger to acquire Canadian American Standard Hemp Inc., (CASH) effective immediately. Real Brands’ name and trading symbol will be maintained, with CASH shareholders acquiring majority control of Real Brands.

Nabis Holdings defaulted on an $8 million debt payment associated with its acquisition of Perpetual Healthcare in Arizona. 

In psychedelic news this week, Champignon stock was told to stop trading on the Canadian exchange for failure to submit the required documentation for its acquisitions. The company said it was in the process of getting caught up on its paperwork.

 


Video StaffVideo StaffOctober 27, 2020

1min1650

It’s time for another Unboxing video from the cannabis world. This box is from the Nugg Club monthly cannabis subscription company. This box included products from Plus Products, Sunspire Farms, Claybourne Co., edibles from Flav Gummies, Oasis Cannabis, Heavy Hitters, and flower from Dropout Cannabis. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with marijuana money.


Video StaffVideo StaffOctober 23, 2020

5min4850

The Flowr Corporation (TSXV: FLWR) (OTC:FLWPF) is buying  Terrace Global in a deal valued at $63 million. Together the two companies have a strong balance sheet with more than $31 million in combined cash and marketable securities to support their growth.

Vibe Growth Corporation (CSE: VIBE) (OTC Pink: VBSCF) announced preliminary unaudited third-quarter 2020 financial highlights. The company said that its revenue is expected to exceed $7.25 million, a 28% sequential increase over the second quarter. Vibe also said it expects to continue to report positive EBITDA and adjusted funds flow in Q3 2020 due to the strategic initiatives implemented earlier this year which resulted in improved margins and operating efficiencies.

Lots of financing moves to go over this week as companies try to clean up balance sheets

Harvest Health & Recreation Inc.  ( CSE: HARV ) has entered into an agreement pursuant to which Eight Capital, as lead agent and bookrunner, will purchase on a “bought deal” basis 13,274,400 units of the Company at a price of $2.26 per Unit for aggregate gross proceeds to Harvest of $30 million.

Planet 13 upsized a previously announced offering of units. Earlier this week, the Vegas superstore company said it was raising $20 million with 4.7 million units at C$4.30 per unit. The new deal is now 5.825 million units at the same price bringing in $24 million. The closing of the Offering is expected to occur on or about November 5

4Front Ventures Corp Announced a C$15 Million Bought Deal Public Offering. the company entered into an agreement with Beacon Securities Limited. The underwriters have agreed to purchase, on a bought deal basis, 21,430,000 units.

Acreage Holdings (OTCQX: ACRHF, ACRDF), announced that it retired short-term strategic financing. The financing was announced in June 2020 and the company paid an aggregate amount of approximately $18 million in order to retire the full balance and accrued interest. 

And finally, LeafLink’s October data reported a 118% year-over-year (YoY) increase as measured by LeafLink’s Gross Merchandise Value or the total value of merchandise sold over a certain period of time, so in this case, January-September. LeafLink’s data is representing wholesale cannabis data from six key legal states: Nevada, California, Colorado, Oregon, Arizona, and Michigan.  Michigan’s YoY GMV increased by a whopping 342%, and out of these six states, it is the strongest escalation in GMV.

 


Video StaffVideo StaffOctober 16, 2020

4min9640

Markets were closed this past monday to celebrate Columbus day or Indigenous Peoples day. Earnings season is starting to pick up and several companies began releasing numbers this week. Some official and some unaudited and unofficial

Aphria (APHA) reported its first-quarter revenue of $69.6 million in the first quarter for fiscal year 2021. This represents strong growth, showing a 23% increase from the prior quarter, as well as the sixth consecutive quarter of growth. Aphria reported a net loss of $5.1 million for the first fiscal quarter, showing a significant decrease from the prior quarter’s loss of $98.8 million. 

Harborside Inc. (OTCQX: HBORF) released preliminary unaudited third-quarter 2020 results for the period ending September 30 with gross revenue for the quarter is expected to exceed $18.5 million.  Net revenue for the quarter ending in June was $15.2 million with net losses of $1.7 million.  The company did not release any information with regards to profits or losses. investors may need to be reminded that Harborside changed its ticker symbol from “HSDEF” to “HBORF” on the OTCQX market effective today October 7, 2020.

cbdMD, Inc. (NYSE: YCBD) reported preliminary financial results for the fourth quarter of and the year ending September 30, 2020. The company said that net sales revenue for fiscal 2020 is expected to range between $41.7 and $41.8 compared to $23.7 million in fiscal 2019. cbdMD also stated that its net sales revenue for the fourth quarter of fiscal 2020 are expected to range between $11.5 and $11.7 million compared to $9.54 million in the fourth quarter of fiscal 2019. the company did not report any profit or loss numbers.

The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) reported its third-quarter financial results for the period ended August 31, 2020. The company said that net revenue for the third quarter of 2020 was $18.1 million, a 10% increase from $16.5 million in the third quarter of 2019. The company delivered a net loss of $3 million.

Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) announced preliminary third-quarter revenue of $11.5 million surpassing its Q3 2020 revenue guidance range of $9.8 million and $10.8 million. The company did not state whether it had any profits or net losses.

Fundraising is picking up on the private side. Michigan-based privately-owned cannabis company Gage Cannabis Co. has launched a Regulation A, Tier 2, equity financing.  The company’s Executive Chairman is industry leader Bruce Linton. Gage is hoping to raise roughly $49 million. 

 Drop Delivery, a cannabis delivery management solution, raised $1M through equity crowdfunding.

 


Video StaffVideo StaffOctober 2, 2020

4min6020

A couple of weeks ago iAnthus said its shareholders approved of a recapitalization plan that effectively dropped the shareholder’s ownership to less than 3% of the company. One group fought back and as a result, the judge in the case did not approve the form of release of claims presented to the Court.  As a result, iAnthus must now pursue the Recapitalization Transaction under the Companies’ Creditors Arrangement Act which is basically a bankruptcy court in Canada. 

Jushi Holdings Inc. (OTCQB: JUSHF) announces rising revenue after releasing preliminary financial results. The company is estimating revenue of $24 million for its third quarter ending September 30, 2020, a change from its previous guidance of $22-$25 million and a sequential increase of 61%. The guidance for revenue in the fourth-quarter ending December 31 is now expected to be at the high end of the previously announced range of $25-30 million and Jushi said it expects to report positive adjusted EBITDA. The total fiscal year 2021 revenue has been revised from $200-250 million to $205-255 million and the adjusted EBITDA is expected to be between $40-50 million.

The Green Organic Dutchman Holdings Ltd.  (OTC: TGODF) has entered into an agreement with Canaccord Genuity Corp. to purchase, on a bought deal basis an aggregate of 46,316,000 units at a price of $0.24 per Unit for aggregate gross proceeds to the Company of approximately C$11 million.

SLANG Worldwide Inc. (OTCQB: SLGWF) is buying Colorado-licensed cannabis cultivator Pleasant Valley Ranch, LLC as the company makes another move to own its supply chain. 

Aurora Cannabis stock dropped this week after it was announced that activist investor Nelson Peltz had resigned as a senior advisor. 

MedPharm Holdings said it would not be extending their term sheet, which expired yesterday, for acquisition with Schwazze, Inc. (SHWZ), formerly operating as Medicine Man Technologies. This is the second company in two months to walk away from Schwazze as Medicine Man Denver also chose to part ways in August.

Canadian mushroom company Optimi Health Corp. closed an oversubscribed non-brokered private placement of $4.4million.

C21 Investments Inc. (OTCQX: CXXIF) has qualified to trade on the OTCQX Best Market.

Acquired Sales Corp. (OTCQB: AQSP) is approved for trading on the OTCQB Venture Market


Video StaffVideo StaffSeptember 30, 2020
HempCrate-1-1280x1280.jpeg

1min3350

This is the latest in a new series of unboxing cannabis videos. This week Green Market Report’s  CEO Debra Borchardt opens up a subscription box from HempCrate Co. You can subscribe to this membership through the company’s website or through Cratejoy.com. [Neither company compensated GMR for this video other than providing the box]. The contents included Drift CBD Infused Honey Sticks, Vel Bar CBD Protein Bar, Dr. Norms CBD Cookies, Tranquility Tea Company, CBDMD Bath Bomb, Oliver’s Harvest CBD Tincture, Myaderm CBD Sports Cream, and Hemp Crate lip balm. Thank you for watching the Green Market Report! Be sure to subscribe to our YouTube channel.



About Us

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


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