Are you in the Chicago area and interested in working in the cannabis industry? We will have a panel with a top cannabis recruiter at the Green Market Summit on May 7 in Chicago. Buy your tickets here.
Vape distribution company Greenlane Holdings, Inc. filed for an IPO of 5.3 million shares with a price ranging between $14 and $16 per share. The company said that it hopes to list on NASDAQ on April 18th. The IPO is valued at $80 million and the symbol is expected to GNLN.
In earnings this week, Green Thumb Industries (GTII.CN) or GTI reported its the fourth quarter results with an increase in revenue by 237% to $20.8 million. For the year, GTI made $62.5 million in revenue. The company experienced a net loss of $3.1 million for the quarter and $7.7 million for the whole year.
Trulieve Cannabis Corp. (CSE: TRUL) reported its fourth quarter and 2018 full-year results with revenue rising 172% to $35.9 million from last year’s $28.3 million for the same time period. The company’s net income grew a whopping 3,467% in the fourth quarter to $10.7 million from last year’s $0.3 million for the same time period.
Following the taping of Marijuana Money, KushCo Holdings (OTCQB: KSHB) announced the release of their financial results for the second fiscal quarter of 2019, which ended on February 28, 2019. Quarter-over-quarter, the company’s revenue rose by 39% to $35.2 million. The net loss for the quarter was $8.9 million. Adjusted EBITDA was $5.2 million. As of February 28, the company had $17.9 million in cash. “Our focus remains the build-out of a scalable, sustainable business, as we cement our presence as the primary supply chain partner to the cannabis, CBD and related industries,” said KushCo CEO Nick Kovacevich. “As a result of a strong first half of the year, including the signing of a number of long-term supply arrangements-in-principle with several new large, well-known customers, we are raising our revenue guidance from between $110 million and $120 million for fiscal year 2019 to between $140 million and $150 million.”
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) is acquiring CannaPharmacy, Inc. in a deal with undisclosed value. CannaPharmacy owns or operates cannabis licenses in Pennsylvania, Delaware, New Jersey, and Maryland. Harvest recently announced the private placement of $500 million in convertible debentures to continue to finance acquisitions and corporate growth.
U.S. based investment fund Northern Swan Holdings has completed $58 million in Series D financing, bringing the total amount of capital raised to date to $96 million. The company will be using the funds to expand its existing Latin American operations including Clever Leaves, a licensed producer of medical cannabis in Colombia.
MPX International Corporation (CSE: MPXI; OTC: MPXOF) entered into a definitive agreement to purchase all outstanding shares of HolyWorld SA for roughly C$13 million.
Cultivator and producer 1933 Industries Inc. signed a licensing agreement with House of Hawk, which is famous skateboarder Tony Hawk’s company and the company’s subsidiary, Infused MFG for the launch of several co-branded CBD wellness products f
Seattle-based fintech company, POSaBIT began trading on the CSE under the ticker PBIT. The company that serves cannabis retailers by delivering bitcoin-enabled payment processing and point-of-sale systems, with built-in compliance features customized to the state each retailer operates in.