Videos Archives - Page 2 of 20 - Green Market Report

Video StaffVideo StaffAugust 31, 2020


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


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


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


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


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


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.

Video StaffVideo StaffAugust 14, 2020


We are back on the grid after losing power for a week due to the tropical storm. 2020 right? Thanks for sticking with us as we were operating at a diminished capacity.

This week was about earnings. We got financial reports from some of the biggest operators in the industry and it was a mixed bag with some companies crushing it while others still struggle with big losses. We will just hit the highlights here

Trulieve who reported eye-popping revenue of $120 million for the second quarter. Still, the company’s net income fell dramatically to just $6.6 million from last year’s $57 million due to adjustments.

Canopy Growth Corporation reported first-quarter fiscal 2021 net revenue increased 22% to $110 million. The net loss of $128 million was lower than last year’s net loss by $66 million, but they are still losing more than they are making. 

Harvest Health and Recreation increased their total revenue by 109% from 2019’s second quarter. This year, the company generated $55.7 million as opposed to $26.6 million in Q2 of 2019. Net loss for the second quarter was $18.3 million.

Acreage Holdings reported second-quarter revenue of $27.1 million, a 53% increase compared to the same period in 2019. Like Canopy, its eventual owner the Net loss was $37.2 million, so still losing more than making

Hydroponic store chain GrowGeneration Corp. reported revenues of $43.5 million for the second quarter and is raising its guidance for 2020 revenue between  $170 million–$175 million. Revenue guidance for  2021 is $245 million–$260 million.

Despite a tightened capital market, HEXO managed to raise almost $35 million in an at the market offering of shares. 

Cannabis tech company Fyllo raised another $10 million as it plans to expand beyond the cannabis industry. 

In psychedelics’ news Revive Therapeutics is introducing dissolvable, oral psilocybin film-strips to their portfolio.

Video StaffVideo StaffJuly 31, 2020


 Scotts Miracle-Gro Company reported fiscal third-quarter sales increased 28% to $1.49 billion, beating analyst estimates for $1.3 billion. Hydroponic subsidiary Hawthorne sales increased 72% to $302 million versus $176 million for the same time period a year ago. Scotts to increase its guidance for full-year sales, adjusted earnings, and free cash flow

Aphria Inc. reported net revenue of $152.2 million in the fourth quarter, an increase of 18% from the prior-year quarter. This number also beat the analyst estimate of $149 million. However, the stock was getting beaten up after the company also reported a $98.8 million net loss for the fourth quarter, which was much worse than last year’s net income of $15.7 million. The losses were attributed to the COVID-19 pandemic.”

PotNetwork Holdings, Inc. (OTC PINK:POTN)  filed its 2019 Annual Report and reported that its revenues fell 41% to $15 million versus $25.5 million in 2018. The company attributed the drop in revenue to “distribution contraction as a result of the FDA Warning Letter, along with the paring and streamlining of the product lines in mid-2019.”

MYM Nutraceuticals Inc. is buying Biome Grow Inc. for roughly C$12 million. Biome is a Canadian-based company with national and international business interests in the cannabis industry. Its wholly-owned subsidiary Highland Grow Inc. is licensed to cultivate, process, and sell cannabis.

As announced in early June, Clever Leaves International is continuing to make its way onto the NASDAQ through the Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA). The deal is expected to close in the fourth quarter and will be known as Clever Leaves Holding Corp. 

Video StaffVideo StaffJuly 24, 2020


Curaleaf (CURLF) closed on a $34 million offering earlier this week and then announced it was closing the previously announced Grassroots acquisition. That deal was first made public a year ago. With the closing of the Grassroots deal, Curaleaf has quickly risen to the top of the charts for cannabis companies. 

Organigram Holdings Inc. (OGI) reported its third-quarter net revenue fell to $18.0 million from last year’s $24.8 million for the same time period ending in May. The net loss increased 783% to $89.8 million from last year’s net loss of $10 million. The company blamed the drop in sales to customers wanting more value-priced products, which it rolled out late in the quarter. 

The FDA issued draft guidance for clinical research related to the development of drugs containing cannabis or cannabis-derived compounds. The FDA is taking comments and suggestions for the next 60 days. 

Lots of legal stuff this week to cover

 MariMed lost a round over the efforts to gain control over the bankrupt Kentucky hemp company GenCanna. MariMed was one of the largest equity shareholders and tried to assert its weight, but the courts disagreed and said since Gencanna had already sold its assets, MariMed was left with no position of power.

Irth Communications and Andrew Haag may not ring a bell for many cannabis stock shareholders, but the group was hired to promote stocks and they did not disclose that information. The two received a cease and desist order from the SEC and told to pay fines totaling roughly $74,000

In Nevada, the new regulator, the Cannabis Compliance Board, signed off on the agreement with CWNevada LLC, whose majority owner is attorney Brian Padgett this past Tuesday. CWNevada will pay $1.5 million in back taxes, $1.25 million in fines, lose six licenses, and must sell its remaining eight licenses.

In stock moves…

Europe’s largest independent cannabis company EMMAC Life Sciences Limited will become a publicly-traded company on the NASDAQ following a merger with Andina Acquisition Corp. III (NASDAQ: ANDA). 

Willow Biosciences Inc.  (OTCQX: CANSF) is approved to start trading on the OTC under the symbol “CANSF”.

Video StaffVideo StaffJuly 17, 2020



According to the state Department of Revenue data, Colorado’s cannabis dispensaries sold almost $192.2 million worth of marijuana products in May. the state reported $42.9 million in medical marijuana sales and $149.1 million adult-use cannabis sales.


So far the state has collected $167 million in tax revenue in 2020 from January to June. If the tax collection remains consistent, the state could end up collecting roughly $334 million in taxes for 2020. 


4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) reported First Quarter 2020 Financial Results Highlights with revenue for the first quarter of 2020 at $16.9m. Net losses were $8.1 million. Gross profit for the first quarter was $9.7m. Adjusted EBITDA for the first quarter was a loss of $2.8m. 


MJardin Group, Inc.  (OTCQX: MJARF) reported first-quarter revenue dropped to $2.2 million versus last year’s revenue of $10.7 million for the same time period in 2019. The company also delivered a net loss of $8.1 million, which was lower than last year’s first-quarter loss of $14.8 million (all figures in Canadian dollars).


Mydecine Innovations Group Inc. (CSE: MYCO) (OTC: MYCOF) has entered into an agreement to buy Canadian-based NeuroPharm Inc. in a deal valued at roughly $6.3 million. NueroPharm is a  developer of natural psychedelic-based treatments for mental health disorders.

The dispensary credit card fraud scheme looks like it will move forward. In March, Ruben Weigand and Hamid “Ray” Akhavan were charged with conspiracy to commit bank fraud over charges that occurred between 2016 and 2019. They are alleged to have created a bunch of fake companies to trick banks into processing credit and debit payments for marijuana products from legal sellers. The two asked the court to dismiss the indictment saying that no one was harmed in the scheme. While the judge hasn’t ruled, it does look like the prosecution has made a strong case not to dismiss.

ManifestSeven, said it has received conditional approval for the listing of its common shares on the Canadian Securities Exchange. the Company’s common shares will commence trading on the CSE under the ticker symbol “MSVN”


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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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