Videos Archives - Page 3 of 27 - Green Market Report

Video StaffMay 14, 2021

5min13190

It was a big week for Trulieve Cannabis Corp.  (OTC: TCNNF). The florida-based company said it was buying  Harvest Health & Recreation Inc.  (OTCQX: HRVSF) in a deal valued at approximately $2.1 billion. The combined businesses will have operations in 11 states with 126 dispensaries serving both the medical and adult-use recreational cannabis markets. Right after that Harvest Health reported its first-quarter revenue rose 101% to $88.8 million. The company said in its earnings that it has a cash position of $106 million, but the company’s total liabilities are $554 million.

Then on Thursday Trulieve said its revenues increased 102% to $193.8 million and beat the Yahoo Finance average analyst estimate for revenues of $189 million.

GrowGeneration Corp. (NASDAQ: GRWG) reported its first-quarter 2021 revenues rose 173% to $90 million. GrowGen said same-store sales increased 51% year over year. Net income was $6.1 million, or $0.10 per share which beat the estimate for $0.07.

Green Thumb Industries Inc.  (OTCQX: GTBIF) continues to show its strength delivering total revenue of $194.4 million in the first quarter up 89% from last year beating analyst estimates. The company also delivered a net income of $10.4 million versus last year’s net loss. 

Charlotte’s Web Holdings, Inc. (OTCQX: CWBHF) reported revenue increased 9.1% to $23.4 million, but net losses grew to $13 million.

In the not so great column:

MedMen Enterprises Inc. (OTCQX: MMNFF) reported its revenue fell to $32 million, from last year’s $44.1 million. This also missed the average analyst estimates of $37.3 million.

The Green Organic Dutchman (TSX: TGOD) (US: TGODF) reported its unaudited revenue increased 194% year over year to $8.98 million but decreased 18% sequentially abd blamed covid store closings for the drop. 

In stock news:

ETF Managers Group has launched its latest cannabis ETF (exchange-traded fund) that will once again focus on the cannabis U.S. stocks. The ETFMG U.S. Alternative Harvest ETF (NYSE Arca: MJUS) will begin trading on the New York Stock Exchange.

Flora Growth Corp. (NASDAQ: FLGC) priced its IPO raising $16 million and will trade on the NASDAQ with the symbol “FLGC.” 

True Leaf Brands  (OTC Pink: TRLFF) has launched both a traditional private placement and an equity crowdfunding offering.


Video StaffMay 7, 2021

3min8420

This is Psychedellux – the leading recap of the week’s top news in the psychedelics industry.

The Multidisciplinary Association of Psychedelic Studies (MAPS) released data from its Phase III trial with the FDA for the use of MDMA (ecstasy) to treat PTSD. MDMA showed efficacy for treating PTSD in six MAPS Phase II trials, providing a cost-saving and clinically beneficial treatment for those with severe or extreme chronic PTSD resulting from any cause. The Phase III trial data revealed that 67% of the group who received MDMA no longer qualified for a PTSD diagnosis after three treatment sessions

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) reported its net loss was $26.9 million for the year ending December 31, 2020.  Subsequent to the year-end 2020, the company raised approximately $30 million.

Psychedelic clinic companies have been expanding quickly as more patients are seeking alternatives to traditional prescription drug treatments. Field Trip Health Ltd. (OTCQX: FTRPF)  opened its fifth location in the United States in the city of Houston, TX. Novamind Inc. (OTC PINK:NVMDF) reported it would open four new Cedar Psychiatry clinics, doubling its network to eight total locations. 

Revive Therapeutics Ltd.(OTC: RVVTF) has entered into a sponsored research agreement with the University of California, San Francisco to explore the utility of Bucillamine as a treatment for severe COVID-19. 

Champignon Brands Inc. (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) has changed its name from “Champignon Brands Inc.” to “Braxia Scientific Corp.” and its ticker symbol will change from “SHRM” to “BRAX” on the Canadian Securities Exchange (the “CSE”).

Field Trip Health Ltd. (OTCQX: FTRPF)  announced that its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States

 


Video StaffMay 7, 2021

5min17410

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.

Sundial Growers Inc. (NASDAQ: SNDL)  said it was buying Inner Spirit Holdings  (CSE: ISH) (OTCQB: INSHF) in a deal valued at approximately $131 million. Inner Spirit is better known as the retailer and franchisor of Spiritleaf recreational cannabis stores across Canada. The Spiritleaf network includes 86 locations and the deal is expected to close in the third quarter of 2021.

Ascend Wellness Holdings, Inc. closed its previously announced IPO raising $80 million. The shares began trading today on the Canadian Securities Exchange, under the ticker symbol “AAWH.U”. The company expects its shares to become quoted on the OTC markets in the near future.

Tilray, Inc. and Aphria Inc. have officially completed the previously announced merger. The combined company, which will be known as Tilray and the combined company had a market cap of approximately $8.2 billion. 

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) closed on its acquisition of GW Pharmaceuticals and announced financial results for the first quarter of 2021 and affirmed financial guidance for 2021. Total revenues increased 14% in the first quarter of 2021 to $607 million compared to the same period in 2020 which was $534 million.

The Scotts Miracle-Gro Company (NYSE: SMG)  announced company-wide sales increased 32% in its fiscal second quarter to $1.83 billion versus $1.38 billion a year earlier. This beat the analyst estimates on Yahoo Finance. Sales for the hydroponic segment known as Hawthorne increased 66% to $363.8 million. Scotts said that due to its fiscal calendar, the second quarter of 2021 ended six days later than the second quarter of fiscal 2020. The shift had a sales impact of approximately $122.5 million within the lawn and garden business.

Cansortium Inc. (OTCQB: CNTMF) reported revenue increased 54% to $14.7 million in the fourth quarter versus $9.5 million for the same time period in 2019. Cansortium also delivered a net loss of $8.4 million in the quarter, which was an improvement over last year’s net loss of $32.8 million for the same time period. For the full year of 2020, Cansortium reported its revenue increased 84% to $52.4 million. 

Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) delivered another quarter of solid results. The real estate investment trust (REIT) reported that its total revenues increased 103% to $42.9 million for the first quarter ending March 31, 2021. This beat the yahoo Finance average analyst estimate for revenues of $42.88 for the quarter.

Cannabis data firm Headset has raised $1.825M in a round led by Silverleaf Venture Partners, a private equity investment manager.

 


Video StaffMay 3, 2021

1min11980

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

1min14900

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
Billboard-WTNews.jpg?fit=960%2C558&ssl=1

1min12300

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

3min9870

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

4min16210

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

3min11240

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

5min18250

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.


Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

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


READ MORE



Recent Tweets

@GreenMarketRpt – 10 hours

$JAZZ has big plans for drug . Helping more children with other forms of #epilepsy…

@GreenMarketRpt – 1 day

$GRAMF Parent Company Buys Jayden’s Journey Dispensary

Back to Top