Green Market Report's Marijuana Money January 17, 2020

There’s just one more week until our first Psychedelic Investing event. After that, our next cannabis conference will also be held in NYC on April 3. You can get all the information at www.greenmarketsummit.com.

GW Pharmaceuticals plc said that it expects total net product sales to be approximately $108 million for the fourth quarter and approximately $309 million for the year ending December 31, 2019. The bulk of the fourth quarter sales comes from the epileptic drug Epidiolex, which is expected to be roughly $104 million for the fourth quarter and approximately $296 million for the full year.

Organigram Holdings Inc. reported that its first-quarter 2020 revenue rose by 102% over last year to $25.15 million, which beat analyst estimates by $10.24 million. The company cautioned that it is pumping the rakes on cultivation as Canada is moving at a much slower pace on store openings.

Aphria Inc. reported revenue for adult-use cannabis increased 46% sequentially to $29 million. Total net revenue decreased sequentially by 4% to $120.6 million but jumped 457% over last year’s second quarter. Aphria delivered a net loss of $7.9 million

This week High Times announced that it was getting into the dispensary business. The company has plans for 2 flagship locations in Las Vegas and Los Angeles. In addition to that, High Times named Paul Henderson as its new CFO. This will be the third CFO for the company in just one year.

ManifestSeven (formerly known as MJIC) has acquired San Francisco-based legal cannabis delivery service company Lady Chatterley Health, which is focused on high-end women’s products for an undisclosed amount.

Rogue Station Companies, Inc. (OTC Pink: RGST) has acquired Brahman LLC, d/b/a Terpp Extractors, a Fort Collins, Colorado-based manufacturer of cannabis processing equipment in an all-stock transaction. 

Carlos Santana announced his partnership with Left Coast Ventures to develop premium cannabis and hemp CBD brands. 

And finally, Cultivar Holdings said its shares have been listed on the Canadian Securities Exchange using the symbol CULT.

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