Videos Archives - Green Market Report

Video StaffVideo StaffSeptember 18, 2020

3min2750

Cannabis technology company Akerna (Nasdaq: KERN) reported that cannabis sales over the Labor Day weekend exceeded a quarter billion dollars, however, the increase was lower than previous years. The lack of big holiday sales could be attributed to bigger sales in August meaning consumers aren’t waiting for the holiday to make purchases.

We have a few earnings to review this week.

Charlotte’s Web Holdings, Inc. (OTCQX: CWBHF) reported that revenue fell from $25 million in the 2019 second quarter to $21.6 million for the 2020 second quarter. The company missed the average estimate for revenues, which was $25.9 million according to Yahoo Finance. The company also missed the earnings estimate of -$0.04 with reported earnings of -$0.13. The company also delivered a net loss of $14 million for the quarter versus last year’s net income of $2.2 million.

Fire & Flower Holdings Corp. (OTCQX: FFLWF) delivered second quarter revenue of $28.6 million. Still, the company reported a net comprehensive loss of $29.1 million, or net loss per share, and on a fully diluted basis of $0.18.

High Tide Inc. (OTCQB: HITIF) reported revenue for its third quarter of fiscal 2020 of $23.20 million an increase of 180% from $8.29 million for the same quarter last year. High Tide also delivered income from operations of $2.11 million versus a loss from operations of $4.04 million for the same period of 2019.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is buying Pennsylvania’s PurePenn and Pioneer Leasing & Consulting as well as dispensary operator Keystone Relief Centers which is doing business as Solevo Wellness. Trulieve has agreed to acquire PurePenn for an upfront payment of $46 million.

Arizona-based Fibonacci Brands is buying the cannabis company Darwin Brands from Harvest Health and Recreation (OTC:HRVSF) for an undisclosed amount. Darwin is part of the Arizona Natural Selections. In February 2020, Harvest acquired AZ Natural Selections in a deal valued at approximately $30 million

PharmHouse is costing Canopy Rivers Inc. (OTC: CNPOF) millions as it works to keep it afloat after the company missed its cash flow goals. The problems have led to a deterioration among the partners causing counterclaims of bad behavior. Canopy Rivers said it will act as a debtor-in-possession lender for PharmHouse and will provide up to $7.2 million in DIP financing. This will allow PharmHouse to continue its day-to-day operations throughout the anticipated restructuring. Canopy Rivers owns 49% in the joint venture of PharmHouse, which was formed in May 2018.

And finally, MedMen was able to borrow another $20 million, but the company is paying 18% interest. And you thought your credit card balance was bad.


Video StaffVideo StaffSeptember 11, 2020

3min3560

It was a shortened trading week as markets were closed on Monday for the Labor Day holiday.

Aurora Cannabis Inc.  (NYSE: ACB) gave an update on its business this week in which the company said it would take a $1.8 billion charge as it released unaudited preliminary fiscal fourth-quarter 2020 results. Revenues also fell sequentially. Aurora reported that its 2020 fourth-quarter net revenue was expected to be in the range of $70 million and $72 million, versus $75.5 million in the third quarter As an aside, the company also named a new CEO Miguel Martin.

Emerald Health agreed to sell ts interest in Pure Sunfarms to Village Farms International for $79 million. This was a joint venture that was established between the company and Village Farms in 2017 and emeral health still owned a 41% interest. 

Columbia Care Inc.  (OTCQX: CCHWF) is buying California-based Project Cannabis for approximately $57 million in Columbia Care stock and approximately $12 million in cash from the proceeds of a concurrent sale of Project Cannabis’ real estate assets. The deal is expected to close in the fourth quarter of 2020.

Havn Life Sciences was granted a Section 56 exemption by Health Canada, meaning it now has the ability to possess certain amounts of pure psilocybin for scientific purposes, specifically for the research and development of quality control methods. Earlier this week, Havn began trading on the Canadian Securities Exchange using the ticker symbol “HAVN”.

And finally The queen of lifestyle branding Martha Stewart has launched a new line of CBD products with cannabis company Canopy Growth Corporation (NYSE:CGC.) The hemp-derived wellness supplements are inspired by some of Martha’s most popular recipes featuring Meyer lemons and blood oranges. The initial product offering will include a range of human wellness supplements, with a gift box and pet line launching later this year.

 


Video StaffVideo StaffSeptember 4, 2020

3min3490

Markets will be closed on Monday in observance of the Labor Day holiday.

The UK-based mental health company known for its psychedelic treatments, Compass Pathways has filed to go public this week. The company said it plans to list its American depositary shares on the Nasdaq under the ticker “CMPS”. The company reported total net losses of $24.8 million for the six months ending in June. The company has raised $116 million so far. Its largest shareholder is Atai Life Sciences, which owns 29% of the stock. 

CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH) reported that its fiscal year-end 2020 total revenues were $11,917,629 but the company also reported a net loss $30 million versus last year’s net loss of $27 million. 

4Front Ventures Corp. (OTCQX:FFNTF) reported revenue of $12.7 million in the second quarter versus $2.5 million for the same time period as last year. The company said that it achieved positive operating cash flow in the month of August and expects a positive adjusted EBITDA starting in the third-quarter of 2020.

Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) reported retail revenue for the quarter  ending June 30, 2020, was $3,987,777. The company also disclosed that it has incurred losses and has had negative cash flows from operations from inception. The company also said it would not be able to make its mortgage payments and didn’t make an interest payment on a convertible debenture. 

And finally

AdvisorShares has launched the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS), which will begin trading this Wednesday (September 2nd).   MSOS becomes the first U.S.-listed active ETF to deliver exposure dedicated solely to American cannabis companies, including multi-state operators (MSOs)


Video StaffVideo StaffSeptember 2, 2020

1min2160

MAPS, the nonprofit organization whose moniker stands for Multidisciplinary Association For Psychedelic Studies recently raised $30 million as interest grows in the space. Simeon Schnapper, Managing Partner at JLS Fund has been investing the space for some time. He spoke with GMR’s Editor-in-Chief Debra Borchardt about the opportunities in the industry and why interest is building. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to our channel.


Video StaffVideo StaffAugust 31, 2020

1min7954

Actor, dancer, and Blues Brother Jim Belushi is also the owner of a cannabis farm in Oregon. He spoke with GMR’s Editor-in-Chief Debra Borchardt about his new Discovery Channel show ‘Growing Belushi’ and the challenges of growing legal cannabis. Belushi also talks about his new deal with cannabis company Grass Roots and the plans for a Blues Brothers cannabis line to be sold in Illinois. Thank you for watching the Green Market Report! Be sure to subscribe to our channel.


Video StaffVideo StaffAugust 28, 2020

4min1830

You are probably aware that California has been subjected to some of the largest fires ever in the past couple of weeks and several farms have been destroyed. We are so sorry to hear about this and our hearts go out to you.

Democratic Gov. Tom Wolf of Pennsylvania announced today that regulating the adult-use cannabis market and “restoring justice” to those with past marijuana convictions are among his fall legislative priorities. Wolf said: “I’m calling on the legislature to legalize recreational marijuana, with the revenue going to small business grant funding [and] restorative justice programs. At the same time, we must pursue policies that restore justice for individuals convicted of marijuana-related offenses.”

Columbia Care Inc. is planning to buy The Green Solution (TGS) in an all-stock deal that is expected to close on September 1, 2020. Colorado-based TGS is said to have unaudited revenue through July 2020 of $52.7 million, Columbia Care said that the deal would be immediately accretive

(MindMed) announced that it is working with the University Hospital Basel’s Liechti Lab on a combination of MDMA and LSD in the Phase 1 clinical trial. The Phase 1 MDMA-LSD trial is scheduled to start in Q4 of this year in Basel, Switzerland. They are studying whether MDMA will reduce the potential effect of a “bad trip” experienced by someone during an LSD treatment.

There were numerous earnings announcements this week.

TILT Holdings Inc. (OTCQB: TLLTF) reported that its revenue fell 9% sequentially to $38.6 million and dropped 1% from last year’s second quarter in 2019. The company blamed the decline on “COVID-19 related headwinds including decreased sales at the Company’s inhalation technology subsidiary, Jupiter Research, as well as lower wholesale demand in the cannabis segment due to the temporary suspension of adult-use sales in Massachusetts from March 24th to May 25th.”

Vireo Health International, Inc. (OTCQX: VREOF) reported that it generated revenue including contributions from discontinued operations, of $12.2 million. This was an increase of 70% over $7.2 million in the second quarter of 2019. Vireo reported revenue, excluding discontinued operations, increased 59% to $10.8 million, over $6.7 million in the 2019 second-quarter. The second-quarter net loss grew to $8.9 million, versus a net loss of $1.8 million in the 2019 second-quarter.

Canadian-based Inner Spirit Holdings Ltd. (CSE: ISH) (OTC:INSHF)known for its national network of Spiritleaf retail cannabis stores reported system-wide retail sales of $20.5 million in the second quarter of 2020, an increase of 343% compared with $4.6 million in the second quarter of 2019. This was a 19% increase sequentially from the first quarter’s $17.1 million.

Hollister Biosciences Inc. (CSE: HOLL), (OTC: HSTRF) reported that its revenue for the second quarter ending June 30th, 2020 was $8.47 million versus $0.2 million for the same time period last year. the company attributed the revenue growth to the sale of concentrates, pre-rolls, and contract manufacturing services.

Ayr Strategies said its revenue fell 16% to $28 million in the second quarter from $33 million. The company reported a net loss of $7.5 million which was the opposite of the net income in the first quarter of $1.6 million.


Video StaffVideo StaffAugust 26, 2020

1min4490

Tommy Chong of the famous comedy duo Cheech & Chong took the time to talk to Green Market Report’s Debra Borchardt about his plans to open dispensaries. He and his partner Cheech Marin along with the company Eighth Icon will begin opening dispensaries in southern California. The stores are expected to feature memorabilia from the duo’s classic stoner movies and Chong says they will celebrate the cannabis culture.


Debra BorchardtDebra BorchardtAugust 21, 2020

3min4240

Maine’s Office of Marijuana Policy announced that retail sales of adult-use marijuana to consumers 21 years of age or older will be permitted starting on Friday, October 9, 2020. The office, which is a part of the Maine Department of Administrative and Financial Services, intends to issue the first active licenses to recreational cannabis businesses on Tuesday, September 8, 2020.

Despite the challenges of COVID-19 in Massachusetts and Nevada, Curaleaf (OTC:CURLF) reported an impressive quarter and gave an even sunnier forecast. CEO Joe Lusardi said on the company’s earnings call that it took a $25 million hit to revenue in the quarter as a result of the pandemic. The tourist traffic in Nevada disappeared and the adult-use stores were closed in Massachusetts for weeks. Lusardi also pointed out that unlike Massachusetts’ quick recovery, Nevada’s recovery is painfully slow.

The company reported Total revenue of $117.5 million, which grew 142% year-over-year and 22% sequentially. The net loss for the second quarter of 2020 was $2.0 million, compared to a net loss of $24.5 million in the second quarter of 2019. We expect to generate Q3 managed revenue of approximately $190 million to $200 million, 

 

Golden Leaf Holdings announced second-quarter revenue of $5.5 million a 40% increase over the same period last year, with a 16% growth over the first quarter of 2020. 

We have some capital raises to go over this week

It’s one of the least known cannabis companies for people outside the industry, but e-commerce company Dutchie is quickly making a name for itself. The company just completed a $35 million Series B funding round, bringing its total funding to $53 million to date.

Sundial Growers closed on a $20 million Series A offering. 

Avicanna, announced the closing of a $2.7 million private placement. 

Mydecine Innovations Group, Inc., (CSE:MYCO) (OTC:MYCOF) announced that it is the first organization to exercise its cGMP capabilities under a special license to legally produce, transfer, sell, and export pharmaceutical-grade psilocybin, naturally derived from whole-mushroom extraction.


Video StaffVideo StaffAugust 17, 2020

1min4940

Curaleaf is rolling a new look to its dispensaries. Green Market Report visited the dispensary in Ware Massachusetts recently to see it in person. The old clinical looking medical dispensary has been replaced with a sleek, modern store for recreational consumers. This interview is an extended version with Curaleaf Massachusetts President Patrik Jonsson who spoke with GMR’s Debra Borchardt. The new design is discussed, along with bot the Select and Grassroots acquisitions


Video StaffVideo StaffAugust 17, 2020

1min6950

Curaleaf’s medical marijuana dispensaries used to have a decidedly clinical look about them. That has changed. Curaleaf’s adult-use stores have leveled up to a new modern stylish look. Green Market Report went on a road trip to Ware, Massachusetts to check out the new store look and talk to Curaleaf Massachusett’s President Patrik Jonsson. Thank you for watching the Green Market Report! Be sure to subscribe to our channel on YouTube.



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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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