Green Market Report's Marijuana Money April 24, 2020

The week started out with a very different 420 celebration as all events went online as virtual parties or fundraisers for various charities. The early indication seems to show that despite the virus, deliveries were strong and edibles were the big sellers. 

Driven Deliveries Inc. said it reached its third consecutive sales record and noted that during its 420 sales campaigns it exceeded previously set sales records by another 31%.

High Tide Inc. announced  it had approximately $789,000 in systemwide gross revenues from April 18-20, 2020 , which is a 79% increase over last year

Companies are still raising money despite the lockdown

The Flowr Corporation (OTC: FLWPF) raised C$20 million in a non-brokered private placement with the option to upsize the amount to C$25 million. The company said it expects to use the proceeds for general working capital purposes.

Fire & Flower Holdings Corp.  announced that it has entered into a commitment letter to obtain up to an aggregate amount of $10 million (with an option for an additional $5 Million)

Organigram established an at-the-market equity program that allows the Corporation to issue up to C$49 million  of common shares 

There are a couple of acquisitions to note

CB2 Insights (OTCQB: CBIIF) completed the terms of the purchase agreement of Colorado-based Rae of Sunshine Health Services.

Stillcanna Inc. (OTC:SCNNF) has signed a comprehensive Letter of Intent to acquire Sativa Group PLC, one of the United Kingdom’s (UK) first medical Cannabis Companies. 

Mineral Hill Industries Ltd. listed on the TSX Venture Exchange under the trading Symbol MHI, but the company had to unwind the capital it raised and step back form cannabis investments. 

 Neptune Wellness Solutions entered into an exclusive partnership with legendary wildlife conservationist, Dr. Jane Goodall to co-develop natural health and wellness products under the Forest Remedies™ brand, 

 Tetra Bio-Pharma Inc. said it received an (FDA) Orphan Drug Designation for secondary cannabidiol (CBD) formulation of its cannabinoid topical drug PPP004 in the treatment of epidermolysis bullosa.

Medicine Man Technologies Inc. has switched its name to Schwazze (pronounced SHHwahZZ). OTC ticker symbol SHWZ.

That’s it for this week, stay safe out there. 

Video Staff

Video Staff


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