Videos Archives - Green Market Report

Video StaffVideo StaffJanuary 18, 2019

3min3590

Green Market Report asks that you sign up as a sponsor on our Patreon page and let’s keep the news alive and unbiased.

Also, Green Market Report released its fourth quarter review on the Cannabis Company Index. Head to the website and read what is one of GMR’s most popular reports.

Ohio began sales of medical marijuana this week. Sales were reported as brisk and lines were long, but the patients said they were happy and supplies held out. Acreage Holdings (CSE: ACRG.U) and Greenleaf Apothecaries both opened dispensaries

New York Governor Cuomo said he hoped to have adult cannabis legalized within 100 days. That doesn’t mean products will be for sale in a few months, it just means legislation could happen. Expect several more months before any retail stores open.

This week, Tilray (TLRY)  signed a $100 million deal with Authentic Brands to provide CBD for any of the company’s product lines. Authentic licenses companies like Nine West and Juicy Couture. This comes just one week after DSW said it was working with Green Growth Brands  to sell its CBD products

MedMen released its unaudited revenue figures for its second fiscal quarter. systemwide revenue increased 40% sequentially to $29.9 million. The company said that if it included pending acquisitions that revenue number would be $49.5 million. Official results will be posted in February.

TILT closed the Jupiter and Blackbird transactions this week. Through Jupiter, TILT has a “bird in the hand” vape hardware business expected to drive roughly $200m in revenues in 2019 as vape demand continues to accelerate. Blackbird brings wholesale distribution capabilities in CA and NV that can be propagated into additional markets as well as leveraged longer term with the company’s Baker CRM to expand TILT’s wholesale footprint.”

Golden Leaf terminated its plan to buy Sweet 16 license.

HEXO Corp. said that its common shares have been approved for listing on the NYSE and will begin trading at the open of markets on January 23. HEXO’s shares will trade on the NYSE American under the ticker symbol “HEXO”, the same symbol the Company’s common shares currently trade under, and will continue to trade under, on the Toronto Stock Exchange.


Video StaffVideo StaffJanuary 11, 2019
marijuanamoneyminute-1280x743.jpg

3min5200

Cannabis packaging company KushCo Holdings, Inc. (OTCQB: KSHB) reported that revenue rose 186% in the fiscal first quarter of 2019 to $25.3 million. The company said it had to weather several challenges. Cash dropped to $3 million due to rapid demand for product and timing of inventory purchases leading up to Chinese New Year.

On Tuesday,  Brent Cox and Omar Mangalji who hold a significant stake in MedMen Enterprises (MMEN.CN) management company MMMG, LLC filed a $20 million lawsuit against Adam Bierman; Andrew Modlin and various MedMen Enterprises entities for alleged breaches of fiduciary duty. Cox is a former board member. On Wednesday, a Los Angeles Superior Court denied a request from the plaintiffs for a temporary restraining order and a preliminary injunction.

The general gist of the lawsuit is that the two gentlemen are upset that the restricted shares will be locked up for an additional year. MedMen said that decision was made by an independent committee. The lawsuit also said that MedMen would not receive a permanent adult use sales license for its flagship West Hollywood store.

Green Thumb Industries Inc. agreed to acquire Advanced Grow Labs LLC (AGL) and enter the Connecticut market. AGL is one of only four companies in Connecticut licensed to grow and process cannabis.

Acreage Holdings, Inc. (CSE: ACRG.U) closed the acquisition of Florida-based Nature’s Way Nursery of Miami, Inc. (“Nature’s Way”).

The DSW shoe chain (NYSE: DSW) has agreed to sell Green Growth Brands (GGB.CN) CBD products from the line Seventh Sense. Several Green Growth brands had previously worked at DSW so this combination was somewhat expected.

Aurora Cannabis Inc (NYSE: ACB) said it expects to report revenue between $50 million and $55 million for the fiscal second quarter ended Dec. 31. This figure is higher than the $11.7 million posted for the same period last year.

Cannabis data company Headset secured $12.1 million in funding in a Series A round of financing.


Video StaffVideo StaffJanuary 4, 2019

3min3580

Happy new year’s everyone and welcome to 2019. We hope you had a nice break from work over the holidays and that your batteries are recharged to tackle this new year.

If you like the news that Green Market Report provides. Show your support by signing on to our Patreon page. You get news, free legislation tracking, and a weekly newsletter. Just a few pennies a day helps keep the news rolling. The entry tier is only $10 a month!

The acquisition race is already fired up this week with TILT Holdings’ (TILT.CN) plan to acquire Jupiter Research in a deal valued at $210 million. The acquisition is expected to close on January 31. TILT’s goal was to expand its technology ecosystem and B2B reach across the supply chain.

“Our latest acquisition of Jupiter Research is paramount to our goal of consolidating and centralizing services for all industry verticals: cultivation, production, and retail,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Vaporization is increasingly becoming the preferred method for cannabis consumption. With Jupiter’s proprietary inhalation technology, our offerings in this category are going to be unparalleled.” TILT only just began trading last month and also announced that it was acquiring BlackBird in December.

Cannex Capital Holdings reported that its revenue rose 223% to $3 million for the second quarter ending in October. The company also reported net income of almost $700 thousand for the quarter.

The Horizons ETF added three new companies to its portfolio. The new names included Khiron Life Sciences, Auxly, and MediPharm. The ETF has lost 46% of its value since hitting a year’s high in October.

Biome Grow Inc. began trading on the OTC Markets Group this week with the symbol BIOIF. It will also continue trading on the CSE using the symbol BIO.

Xanthic Biopharma has officially changed its name to Green Growth Brands.

Sunniva completed its previously announced acquisition of LYTR Logistics.


Video StaffVideo StaffDecember 21, 2018

4min12964

The President was set to sign the 2018 Farm Bill on Thursday with the signing time repeatedly pushed back and after a long speech about the border wall, he finally signed it. And so thus ends hemp prohibition and it is legal.  

New York State Governor Andrew Cuomo presented his 2019 agenda on Monday morning to the New York Bar Association and it included his plan to legalize adult use cannabis. “Let’s legalize the adult use of recreational marijuana once and for all,” he said. There have been estimates that legalizing cannabis could bring in an additional $1.3 billion in annual tax revenues with $336 million for New York City alone.

Aleafia Health Inc. (TSXV: ALEF) is acquiring Emblem Corp. (TSXV: EMC, OTCQX: EMMBF)  are in an all-stock deal valued at approximately $173.2 Million. The combination will create Canada’s largest medical cannabis clinic network with 40 clinics and education centers.

Tilray Canada Ltd. a subsidiary of Tilray Inc. (NASDAQ: TLRY) entered into an agreement with Sandoz AG, which is a part of the Novartis group, to increase the availability of high-quality medical cannabis products across the world. Tilray has also signed a binding letter of intent (LOI) to purchase hemp-derived CBD isolate from LiveWell Canada Inc. (CSE: LVWL), which will be sourced from the United States and Canada.  Hemp CBD is estimated to be a $22 billion market in the U.S. and finally, big brewer AB InBev, and Tilray, announced a partnership to research non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD).

The war between Terra Tech Corp. (OTC: TRTC) and its investor Heidi Loeb Hegerich is heating up. The first attack began with a lawsuit filed last week by the Reno, Nevada woman claiming fraud. Loeb Hegerich entered into a partnership with Terra Tech and became a co-owner of a Blum dispensary in midtown Reno. Loeb made some 50 different claims in the case and ultimately is unhappy that she hasn’t received any money back from her investment. Terra Tech said it will defend itself vigorously against the meritless claims filed in the State of Nevada. Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF)  said that it has decided not to pursue a potential transaction with Terra Tech Corp.

Cannabis loyalty software company springbig completed its latest Series A fundraise for $5 million bringing its total amount raised to $11.3 million.


Video StaffVideo StaffDecember 13, 2018

1min2190

Humboldt County in California has seen its fair share of boom and bust cycles. From gold mining to logging, this county continues to reinvent itself. Now it’s cannabis that is fueling the county and specifically the town of Eureka’s latest boom. Rob Holmlund, the Director of Community Development in Eureka California tells the Green Market Report how the area has been transformed by the cannabis industry that has brought meaningful jobs to the residents.


Video StaffVideo StaffDecember 7, 2018

2min5730

The trading week was shortened as markets were closed on Wednesday to honor the funeral of the 41st president George HW Bush. Probably best since stocks took a beating on Tuesday.

On Monday, Cresco Labs became the latest multi-state operator to begin publicly trading on the Canadian Securities Exchange. Using the ticker CL, the stock opened at $8.50 and was lately trading at $C6.57.

Cronos Group stock skyrocketed after the company confirmed that it was speaking with tobacco giant Altria. While there is no additional news of a deal, it is anticipated to be a big one. Tobacco companies have shied away from cannabis until now presumably waiting until it was federally legal. It seems these companies have decided that to snooze is to lose.

Conversely, Aphria, which had been rumored in October to be speaking with Altria came under short seller attack. The stock plunged after Gabriel Grego called the company worthless. Eight Capital also cut its price target from C$22 to C$7 and the securities lawyers are lining up for business.

TILT Holdings began trading this week on the CSE using the symbol TILT. It also acquired cannabis distributor Blackbird for $50 million. Blackbird works with 250 wholesale and retail cannabis companies in Nevada and California. The company plans to expand into Massachusetts and Arizona and further in California.

High Times came to an agreement with THC Holdings to convert $28.6 million worth of debt to Class A common stock. The debt has been hanging over High Times and this removes the pressure of making those payments.

Origin House acquired craft cannabis company Cub CityCity for roughly $7 million.

Money continues to flow into the sector.

Ascend Wellness raised $40 million and believes this is one of the largest raises in Massachusetts. The company will use the money for expansion into other states.

OG DNA genetics raised $35 million.


Video StaffVideo StaffNovember 30, 2018

4min5950

The week kicked off with New Jersey making a bold move towards adult use legalization. The state approved proposals in the Senate and Assembly with the next step to send to the full chambers for a vote. The market is estimated to bring in $300 million in additional tax revenues for the state.

We got some new stocks to trade this week. Dixie began trading on the Canadian Securities Exchange this week using the symbol DIXI. Grown Rogue also began trading on the CSE with the symbol GRIN.

It was a busy week for earnings.

(Editors Note – Following the taping of Marijuana Money on Thursday, the market saw major earnings releases from MedMen and Acreage Holdings. In order to produce this video for Friday, it must be written and taped in advance. In some cases this means major news can occur afterward.)

KushCo Holdings (KSHB) said its revenue jumped 177% to $52 million. The net loss, including $1.0 million in depreciation expense, was $23.9 million in SG&A, and $1.6 million in provisions for income tax, was approximately $10.2 million compared to net income of $69,000 in fiscal 2017.

MedMen Enterprises (MMEN) (MMNFF) reported that its fiscal year 2019 first-quarter revenue grew 1,094% to $21.5 million over last year’s $1.8 million for the same time period. Still, the company reported a net loss of $66.5 million, or a loss of $1.42 per share, a dramatic increase over last year’s loss of $5.7 million for the same time period. This was a slight improvement over the net loss of $78.7 million for the fourth quarter last year.

Acreage Holdings Inc. (CSE: ACRG.U) announced its unaudited financial results for the third quarter, which ended on September 30, 2018. Acreage reported quarterly revenue of $5.5 million, representing a 160% increase when compared to the same period in the previous year. The company’s year-to-date revenue increased by 92% to $10.6 million. The company’s net loss increased from $0.7 million in the third quarter of 2017 to $4 million.

Charlottes Web (CWEB) which delivered revenue of $17.7 million. Net income fell slightly to $1.8 million, but gross profits increased 54% to $13.8 million.

Green Thumb Industries (GTII) reported that its revenue jumped 344% to $17.2 million, but the company delivered a net loss of $3.3 million.

GW Pharmaceuticals (GWPH) reported that its revenue declined to $2.4 million missing analysts estimates for $2.9 million. The company also reported a net loss of $79 million.  It wasn’t all bad because at the beginning of the week GW Pharm also said it had positive study results on a phase 3 trial for Epidiolex.

Canopy Rivers (CNOPF) recorded a net income in the quarter of $10.9 million.

MJardin’s (MJAR) revenue increased 65% to $7 million with a net loss of $400k.

Sunniva reported revenue of $3.8 million, but a net loss of $6.7 million.

In financial moves, Cura Cannabis Solutions raised $75 million in a private placement.

Altitude Investment Management closed its fund after raising $30 million with plans for a second fund to raise $100 million.

Green Gotham invested $15 million in LA’s The High Note.



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