Videos Archives - Page 2 of 26 - Green Market Report

Video StaffMay 3, 2021

1min11050

This year’s New York City annual cannabis parade brought out a who’s who of New York politicians and activists. Senator Chuck Schumer told the Green Market Report that he and Senator Booker will be introducing legalization legislation in a few weeks. In addition to Schumer, NY Attorney General Tish James spoke about social equity, Steve DeAngelo reminisced about his first NYC cannabis parade when he was 17. Vlad Bautista from Happy Munkey spoke for legacy operators, Tonya Osbourne represented cannabis women, Grizzzly BoCourt spoke on behalf of social equity applicants and Blinc CEO Arnaud Dumas de Rauly voiced his excitement over the soon to be legal market in New York. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date.


Video StaffMay 3, 2021

1min13000

This year’s 2021 New York City was one of happiness, dancing and an overall sense of freedom. People openly consumed cannabis with no fear of being arrested. This year’s parade drew people from all over the country. Activist Steve D’Angelo came in from California to celebrate the decades since he attended his first parade. Politicians like Senator Chuck Schumer and New York State Attorney General Laticia James spoke at a rally following the parade which brought a who’s who of New York cannabis activists.


Video StaffApril 30, 2021
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1min10990

A few ounces of weed might be legal in New Jersey but not hundreds of pounds, as Tara Misu explains in her New Jersey report. Vermont’s Green Nurse Jessilyn Dolan has the story of her state banning Delta 8 THC and why that is a good thing. No movement on the Federal legalization front as the SAFE Banking bill can’t even get onto the Senate floor. 4-20 sets a buying record for cannabis sales in the USA. Plus the Green Market Report with Debra Borchardt, and state wrap-ups from Washington DC, Illinois, Michigan, and north of the border in Canada with MJBiz Canada reporter Solomon Israel. Jimmy Young from Pro Cannabis Media anchors Weed Talk News, the most comprehensive cannabis news roundup on the internet.


Video StaffApril 30, 2021

3min8910

This is Psychedellux – the week’s top psychedelic industry headlines.

MindMed (NASDAQ: MNMD) shareholders have been taken on quite the trip over the last few days as the company uplisted from the Over The Counter Market to the big time at the NASDAQ. The stock jumped to over $5 a share in its last days at the OTC Markets, only to move to midtown Manhattan and see the shares plunge 29% in its debut. The stock closed at $4.02 on Tuesday. 

Numinus Wellness Inc. (TSXV: NUMI) announced that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial. The Phase 1 trial will enroll 14 human volunteers and assess the safety and psychoactive properties of a Psilocybe mushroom product extracted and formulated at the Numinus Bioscience lab. The company also said it was listing its warrants on the TSX Venture Exchange

PharmaTher Holdings Ltd. (OTCQB: PHRRF) has filed a provisional patent application with the U.S. Patent and Trademark Office outlining the novel use of ketamine as a potential treatment for Type 2 diabetes and obesity, based on the evaluation of the company’s drug repurposing artificial intelligence platform. PharmaTher recently used this platform to discover novel uses of psilocybin in the potential treatment of certain cancers, which led to the sale of the company’s psilocybin intellectual property portfolio to Revive Therapeutics Ltd. (OTC: RVVTF) for a consideration of up to C$10 million.

COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the launch of a proposed public offering of 4,000,000 American Depositary Shares (“ADSs”), each representing one ordinary share.


Video StaffApril 30, 2021

4min13650

For a company that mostly sells papers, Turning Point Brands (NYSE: TPB) is turning into a behemoth in the cannabis industry. During its recent earnings results, the company announced that it was increasing its guidance for 2021 net sales to a range of $422 million to $440 million. Results for the first quarter have net sales increasing 18.7% to $107.6 million and net income increased $7.3 million to $11.8 million.

Hydroponic company Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) has had a busy week. First things first, Hydrofarm said it expects to deliver net sales in the range of $109 million to $111 million for the quarter. The company also acquired Heavy 16 in a deal valued at $78 million. And supersized a huge offering that intends to raise $269 million.

Fire & Flower Holdings Corp. (OTCQX: FFLWF) announced its financial and operational results for the fiscal year and quarter ending January 30, 2021. In the fourth fiscal quarter, Fire & Flower reported total revenue of $43.2 million versus revenue of $16.8 million for the fourth quarter of 2019. It was an increase in revenue of 30.5% and an increase of 42.8% in total gross profit dollars compared to the third quarter of 2020.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported total revenues for the fourth quarter were $18.8 million versus $3.1 million for the same time period in 2019. For the full year of 2020, revenue jumped 508% to $50.7 million versus 2019’s $8.3 million. 

Harborside Inc.  (OTCQX: HBORF)reported in the fourth quarter, it had gross revenues of approximately $13.1 million, which was a 12% increase versus 2019’s fourth-quarter revenues of $11.7 million. For the full year, 2020 gross revenues increased 29.4% to $63.4 million.

Michigan-based Gage Growth Corp.  (CSE: GAGE) reported that its revenue increased 615% to $10.5 million in the fourth quarter over last year. Gage also reported that its revenue increased 1,972% for the full year to $39.9 million versus $1.9 million in fiscal year 2019. The company also trimmed its net losses to $29.8 million from 2019’s net loss of $75 million.

The Valens Company Inc.  (OTCQX: VLNCF) is buying Green Roads and its majority-owned manufacturing subsidiary in a deal potentially valued at $60 million.

 

And finally,  Pennsylvania’s medical cannabis sales have escalated, and between April 2020 and March 2021, Pennsylvania’s medical markets brought in $909.4 million.


Video StaffApril 23, 2021

3min10360

This is Psychedellux – the week’s top business headlines for the psychedelics industry

 Atai Life Sciences plans to raise $100 million in an IPO. The company has built a pipeline of 10 therapeutics and six enabling technologies. 

Lots of medical updates this week. 

Aion Therapeutics Inc. (CSE: AION) announced that its proprietary and patented combinatorial mushroom preparations showed high efficacy in killing HER2+ breast cancer cells, ER+/PR+ breast cancer cells, and triple-negative breast cancer cells by direct cytotoxicity. The company said it plans to begin initiating clinical trials.

Revive Therapeutics Ltd. (CSE: RVV, USA: RVVTF) announced the successful completion of the research results and filing of a U.S. provisional patent application with The United States Patent and Trademark Office on its oral thin-film delivery system with psilocybin 

Cybin Inc. (OTCQB:CLXPF)  announced that it has successfully demonstrated Proof of Concept for its deuterated tryptamine programs, CYB003 and CYB004, for the treatment of depression and addiction. Cybin is working to shorten the length of time that psilocybin treatments take and this program is part of that research. 

NeonMind Biosciences Inc. (OTC:NMDBF)  said that it is establishing a medical services division for the delivery of evidence-backed innovative treatments for a variety of mental health needs. This will include psychedelic modalities and other newer treatments for mood disorders such as depression. NeonMind has appointed Ernie Ho as VP, Corporate Development, with his initial focus to be the development of the team to build out medical services as well as to identify and assess partnership and acquisition targets.

 


Video StaffApril 23, 2021

5min15890

What a huge week for 420. Headset said it was processing $60,000 in sales a minute. Planet 13 reported it had done over half a million in sales for one day and Ayr Wellness said it saw 14,241 transactions and $1.24 million in sales on Tuesday, for an average ticket of $87. 

Cannabis legalization advocates must be feeling a sense a deja vu. Today, the House of Representatives approved legislation (again) that would provide safe harbor for financial service providers to work with cannabis businesses that are in compliance with state laws. Called the SAFE ACT, (Secure and Fair Enforcement) Banking Act, or H.R. 1996, was reintroduced in March by Reps. Ed Perlmutter (D-CO), Steve Stivers (R-OH), Nydia Velazquez (D-NY), and Warren Davidson (R-OH), and had 177 total cosponsors by the time of the vote. The legislation was approved by a vote of 321-101, including a majority of voting Republicans.

This was a big week for  Jushi Holdings Inc. (OTCMKTS: JUSHF) bought Nature’s Remedy of Massachusetts, Inc. in a deal valued at $110 million. The acquisition is expected to close in the second half of 2021. Nature’s Remedy currently operates two retail dispensaries, in Millbury, MA and Tyngsborough, MA, and a 50,000 sq. ft. cultivation and production facility in Lakeville, MA with approximately 19,500 sq. ft. of high-quality indoor flower canopy and state-of-the-art extraction and manufacturing capabilities. OhiGrow, LLC, one of 34 licensed cultivators in Ohio, and Ohio Green Grow LLC collectively known as OhiGrow in a deal valued at $5 million in cash. 

Jushi was not able to finish its audited fourth-quarter and full-year results by the April 30 deadline. Instead, Jushi delivered unaudited results said it expected to deliver the official numbers by May 24, 2021.  Despite the numbers being unaudited, revenues increased 30% sequentially in the fourth quarter to $32.3 million and easily tops last year’s revenue of $6 million for the same time period. For the full year 2020, Jushi reported revenues increased 690% to $80.8 million versus last year’s $10.2 million. 

GrowGeneration Corp . (NASDAQ: GRWG ) is continuing to expand its universe by buying Downriver Hydroponics, a Michigan -based indoor garden supply center in Wayne County. The company did not disclose the value of the deal, however, it did say  Downriver Hydro is the area’s largest hydroponics store, with annual revenues approaching $10 million. With the acquisition of Downriver Hydro, GrowGen’s portfolio of hydroponic garden centers now includes 53 stores across 12 states, with seven of those locations in Michigan.

Parallel, one of the largest privately-held multi-state cannabis operators in the United States (U.S.), today announced it will make a $25 million dollar investment in a new state-of-the art cannabis cultivation, production and retail facility in Texas. 

Turning Point Brands, Inc. (NYSE: TPB) announced a $8.7 million strategic investment in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural cannabis and Marley CBD. 

And finally, mark your calendars for our next virtual event The State of Psychedelic investing on May 13 at 3pm eastern. The registration link is on our website.


Video StaffApril 21, 2021
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1min6490

Anthony “Sully” Sullivan is the high-energy, omnipresent British-born TV pitchman of commercials and late-night infomercials (including OxyClean) and now stars on the new hit TV series “Kings of Kush” on VICE that premiered this month on VICE. Sully took a departure from his 30-year career in selling products on TV when his daughter Devon was born with a rare genetic disorder and needed an alternative to prescription medication. On “Kings of Kush,” Sullivan and his business partner and friend Dave Christian purchase a 116-acre farm in Plainfield, Vermont, for the sole purpose of growing hemp to process cannabidiol (CBD) for its medicinal benefits. Green Market Report had a chance to speak with Sully and learn more about Mont Kush.


Video StaffApril 16, 2021

2min7510

This is Psychedellux – the week’s top business news in the psychedelics industry. Cybin said it was Starting the IND-enabling trials for CYB003 and CYB004 which is a step forward for Cybin to study these molecules. Our team hopes to produce a robust submission to the FDA that will advance its path forward to clinical trials. Once the studies have been completed,the company plans to file IND applications, targeting treatment-resistant psychiatric disorders and certain forms of addiction, in 2021

 

Red Light Holland to purchase 80% of Happy Caps Urban Gourmet Mushroom Farm, specializing in quality ‘grow your own mushroom kits’, mushroom plug spawn and fresh mushrooms for the wholesale market

 

 Dimensions Health Centres (“Dimensions”), a psychedelic treatment company, officially announced the company formation and subsequent closure of an initial, oversubscribed round of funding. The company did not disclose the size of the round.

 

EMPOWER CLINICS INC. (OTC PINK:EPWCF) announced it is now eligible for Depository Trust Company (“DTC”) services in relation to Empower’s listing on the OTC.

 

A new study published in the New England Journal of Medicine tested the use of psilocybin for depression treatment. Unfortunately for the psychedelic community, the results weren’t overwhelmingly different for psilocybin and the ultimate result was a suggestion for a larger study. 


Video StaffApril 16, 2021

4min14860

New Mexico became the 18th state to legalize cannabis for adults 21 and over after Gov. Michelle Lujan Grisham (D) signed the Cannabis Regulation Act (HB 2) into law on Monday.  New Mexico is now the fifth state to adopt a legalization policy by passing a bill through its state legislature, joining Illinois, Vermont, New York, and Virginia. Thirteen additional states have legalized by voter initiatives.

Aphria Inc.  (NASDAQ: APHA) reported that its revenue dropped versus the last quarter and reported a whopping net loss of $361 million. In addition to that, Aphria missed analysts’ estimates for earnings and revenues. revenue increasing 6.4% over last year to $153.6 million. The company said that the duration and impact of lockdowns across many of the regions in Canada, were greater than we initially anticipated.

Organigram Holdings Inc. (NASDAQ: OGI) reported that its revenue fell 29% to $19.2 million in the second fiscal quarter of 2021 and then its losses ballooned.  The company attributed it to significantly lower wholesale revenue and lower average selling prices. The company went on to say that the net revenue was also lower due to missed sales opportunities, as certain employees tested positive for COVID-19 which resulted in a significant number of facility staff having to isolate.

TILT Holdings Inc.  (OTCQB: TLLTF)  reported Revenue for the fourth quarter increased 8.1% sequentially to $42.3 million from $39 million and increased 35.4% over last year. For the full year 2020, revenue came in at $158 million versus 2019’s revenue of $146 million. 

The Scotts Miracle-Gro Company (SMG) recently announced that it now expects to report sales growth in the band of 4-6% in its U.S. Consumer segment for fiscal 2021, which suggests an increase from its earlier sales guidance of flat to -5%. The Hawthorne segment is forecast to witness a sales growth at the top-end of the guidance of 20-30%. 

And finally, next week is the 420 holiday.

The weekend preceding 4/20, which lands on a Tuesday this year, is pegged by Akerna’s predictive data as the most significant sales weekend of the year. On Friday, April 16, the Flash Report anticipates a 50% growth in daily sales from its 2021 average, with a total industry sales figure of $85 million. By the time Tuesday hits, the daily retail sale of legal cannabis is expected to gross $95 million nationally, bringing total of 4/20-related sales to $370 million. 

Party on my friends.


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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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