Videos Archives - Green Market Report

Video StaffDecember 3, 2021

6min1870

Green Wednesday 2021 was a big one for the cannabis industry, while Black Friday fizzled in comparison. Green Wednesday saw cannabis sales increase across the U.S. Black Friday did not have the sales growth seen in previous years, though some data (Flowhub) showed larger order values and bigger discounts than Green Wednesday. 

 Harborside Inc.  (CSE: HBOR), (OTCQX: HBORF) announced it was buying California retailer UL Holdings Inc. also known as Urbn Leaf and  Loudpack. Loudpack is a manufacturer, cultivator and distributor of award-winning cannabis brands in California.  The newly combined company will be renamed StateHouse Holdings. The company said that it expects to trade the new company on the Canadian Securities Exchange under a new symbol (CSE: STHZ) and the deal is expected to close in the first half of 2022. In addition to announcing the big transaction, Harborside also delivered some sobering news to investors. The company said it was withdrawing its previous revenue guidance for 2021 and said it would revisit the forecast after the deal closes. A variety of reasons were given including a decline in wholesale pricing for bulk products in the California market and a decline in retail revenue which was primarily due to a decrease in retail store foot traffic.  

Red White & Bloom Brands Inc. (OTCQX: RWBYF) reported third quarter revenue increasing 93% to C$11.8 million and a net loss of C$5.5 million, RWB though is still facing a huge debt problem that it warned investors about last quarter. The company said this time that it is in advanced discussions with a number of funds to restructure the current debt of $115 million due in 2022 into a more advantageous long-term debt solution. 

Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) announced third-quarter revenue increased 9% to $15.6 million compared to $14.3 million. The company is revising its 2021 outlook for revenue and now expects it to range between $63-$66 million.

Gage Growth Corp.  (CSE: GAGE) (OTCQX: GAEGF) reported its third-quarter revenue rose to $27.2 million and the company had a net loss of $3.7 million. Gage said it is in active discussions with multiple retail operators in Michigan to potentially acquire over 10 retail locations in the coming months. 

Chicago Atlantic Real Estate Finance, Inc. is a newly formed commercial real estate finance company or REIT. The current portfolio is mostly first mortgage loans to state-licensed operators in the cannabis industry. The company expects the IPO to be priced between $16.00 and $18.00 per share and could raise as much as $129 million. It has applied to list the common stock on the Nasdaq Global Market under the symbol “REFI”.

The newest cannabis SPAC (special purpose acquisition corp.) Canna-Global Acquisition Corp. (NASDAQ: CNGLU) priced its initial public offering of $200 million and began trading on the Nasdaq Global Market on Tuesday using the ticker symbol “CNGLU”. The SPAC said it has not selected a business combination target 

Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) announced that it is leaving the cannabis industry and pivoting to a pharmaceutical development focus. Emerald said it is looking for buyers for its cannabis assets to further strengthen its already strong capital position.

 

 

 


Video StaffNovember 19, 2021

5min7320

We are still in the thick of earnings season and with so many companies delivering their numbers this week, we can only hit the notable ones here. 

Trulieve Cannabis Corp.  (CSE: TRUL) (OTCQX: TCNNF) announced that its third-quarter revenue increased 64% year-over-year to $224.1 million, beating estimates by $2 million.

TPCO Holding Corp. also known as The Parent Company (NEO: GRAM.U) (OTCQX: GRAMF) announced its financial numbers for the third quarter with an eye-popping charge of $570 million. The Parent Company’s revenue for the quarter was $39.7 million.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its results for the third quarter with revenues of $207 million, which increased over the second quarter’s revenue of $199 million.

TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF) reaffirmed guidance of $205-$210 Million For 2021 and reported its revenue increasing 37% to $53.4 million driven by growth in both cannabis and inhalation and accessory revenue. 

TerrAscend Corp.  (CSE: TER) (OTCQX: TRSSF) reported that its third quarter revenues dropped by 16% sequentially to $49.1 million from the second quarter’s $58.7 million. However, it was better than 2020’s third-quarter revenue of $38.1 million.

Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) announced its financial results with total revenue rising 13.1 sequentially to $54.0 million, and an increase of 116.7% over last year. 

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced its total revenues were $25.9 million, topping last year’s $12 million for the same time period for a gain of 70%. However, the company experienced a 4% sequential drop in sales from the second quarter. 

SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) announced the departure of several top executives and a new financing deal with Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF). The company’s CEO Chris Driessen resigned and the board chair Peter Miller stepped aside. Several other board members left as the company git $17 million in financing from Trulieve. 

It looks as if the MedMen Enterprises Inc. (OTC: MMNFF)  trial is coming to a close. According to Law360, the lawyers for the company’s former Chief Financial Officer James Parker attorney gave his closing arguments on Tuesday. Parker claims he is owed up to $24.89 million due to his employment contract, while MedMen believes the contract isn’t enforceable because Parker negotiated it himself. 

And finally this week, Republican lawmakers filed a bill today that would federally legalize and tax cannabis, the States Reform Act. Rep. Nancy Mae (R-SC) is sponsoring the bill which lowers the tax level from the Schumer legislation, which hasn’t been filed but also excludes any social equity component. 


Video StaffNovember 17, 2021

1min6240

Wesana Health (OTC: WSNAF) is a life sciences company focused on the advancement of psychedelic medicines that will target traumatic brain injuries. The company’s CEO Daniel Carcillo is a former professional hockey player who can speak from the experience of having suffered numerous injuries. He believes the Wesana clinics will offer better treatment than the currently trendy “ketamine mills.” He says Wesana will focus on insurance reimbursement.


Video StaffNovember 15, 2021

1min8610

Green Market Report recently attended the Wonderland Psychedelic Business Conference in Miami Florida, where we had the opportunity to talk to former professional boxer Mike Tyson. Tyson is currently the Chief Brand Officer at Tyson 2.0, his expanded cannabis company that was born out of Tyson Ranch. Tyson is now a big supporter of the use of psychedelic compounds to treat depression and other conditions. He has also invested in the psychedelic medicine company Wesana Health (OTC: WSNAF). Tyson says psychedelics has turned him into a different person and he’s a changed man – for the better.


Video StaffNovember 12, 2021

4min7500

It was Veterans Day this week and we salute all those who served. Markets remained open for the holiday. 

We are in the thick of earnings season with almost 20 different cannabis companies reporting third-quarter earnings this week. 

But before we cover some of the top names cannabis retail tech firm Springbig announced it was going public through the Tuatara SPAC. The post transaction valuation is listed as $500 million and it is being suggested the company will have $200 million in cash after the closing. It is worth noting that springbig is only on track to report $24 million in revenue in 2021. 

Curaleaf Holdings, Inc. (OTCQX: CURLF) is buying western state operator Tryke Companies known for its Reef Dispensaries in a deal valued at approximately $286 million. The acquisition is expected to close in the second half of 2021. Curaleaf said it will be immediately accretive. Tryke is expected to deliver nearly $110 million in full year 2021 revenue.

Turning in one of the best earnings reports this week was Green Thumb Industries Inc. (GTI)  (CSE: GTII) (OTCQX: GTBIF)  Third quarter revenue at Green Thumb increased 48.7% to $233.7 million. GTI’s same-store sales growth was 14% on a base of 48 stores, driven primarily by increased transactions. 

GrowGeneration Corp. (NASDAQ: GRWG) reported third-quarter 2021 revenues of $116.0 million and the company said it is on track for full year revenue of $435 to $440 million in 2021.”  GrowGen also delivered a net income of $4.0 million.

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) announced its revenue grew 2.6% sequentially to $215.5 million, and an increase of 40.6% year-over-year. Still, Cresco recorded a non-cash impairment charge of $291 million in the quarter as a result of the strategic shift in California operations. That resulted in a net loss for the quarter of $263 million. Cresco reaffirmed its guidance for revenue in the fourth quarter between $235 million and $245 million.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), announced its results for the first quarter of 2022 and total cannabis net revenue was $60.1 million, a 10% sequential increase from the prior quarter. Still, the revenue missed estimates and the company also reported a net loss of $12 million. 

As a reminder the weekly newsletter will go out Monday morning with a run down of what to look for during the week.


Video StaffNovember 1, 2021

1min18722

We haven’t been to Planet 13 Las Vegas since the 2019 MJ Biz conference. Back then it was only a dispensary. Now, this dispensary has over 80 registers, a restaurant, a bar, a clothing shop, and the ability to watch the company make edibles. Coming soon there will be fighting robots in the candy factory and a cannabis history museum. Green Market Report had a chance to speak with Co-CEO Larry Scheffler about the company’s growth.


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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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