Green Market Report's Marijuana Money June 12, 2020

Schwazze(OTCQX: SHWZ) formerly known as Medicine Man Technologies is buying 14 Star Buds locations in the state of Colorado as part of the company’s pending acquisitions. The deal is valued at $118 million and the locations are said to have earned $50 in annual revenue.

HEXO Corp. (NYSE: HEXO) reported that its revenue increased 30% sequentially to $30.9 million in the third quarter fiscal. The net losses fell to $19.5 million from the second quarter’s kitchen sink net losses of $298 million. Revenues beat analyst estimates while earnings per share missed by two cents. 

Troubled cannabis company Namaste Technologies Inc. (OTCMKTS: NXTTF) continues its hard journey on the road to recovery as the company reported a 16% increase in net revenues to $5.3 million for the first quarter. Namaste said it was its highest quarterly revenue in two years. The company also reported that its net losses had been trimmed to $7.4 million from last year’s $10.3 million for the same time period.

Grow Generation Corp. (NASDAQ:GRWG) announced a $35 million stock offering and gave hints of potential COVID troubles ahead.

MediPharm Labs Corp. (OTCQX: MEDIF) closed a private placement with an institutional investor for gross proceeds of C$37,822,500. The company said it plans to use the money for general corporate purposes, including building on the launch of its Cannabis 2.0 offerings with new product formats and expanding its product and Active Pharmaceutical Ingredient exports.

Akerna Corp. (Nasdaq: KERN) has closed a $17 million debt financing with  two institutional investors.

Leading cannabis manufacturer in California, Procan Labs, announced its victory in a monumental lawsuit against the state of California. The company was found to have $2.6 million in “black market” cannabis oil as well as $620,000 in cash. The judge ultimately ruled the cannabis oil to be legally produced, as well as ruling that the Controlled Substances Act does not apply to licensed cannabis businesses in the state of California.

Vireo Health International, Inc. (OTCQX: VREOF) said that it has elected to terminate its employment agreement with Bruce Linton as Executive Chairman, on an entirely without-cause basis. Don’t feel bad for Bruce, he is also leading a $150 million SPAC

Aphria traded today for the first time on the NASDAQ this week with the symbol “APHA”

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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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