It’s time to buy your tickets to the Green Market Summit in Chicago on May 7, head to the website for more details.
Lawmakers and regulators in Alaska have signed off on new regulations explicitly permitting adults to consume cannabis at specially licensed retailers. “When these rules go into effect, Alaska will be the first state to finalize and approve statewide rules for on-site consumption.”
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) has entered into an agreement to buy VeranoHoldings, LLC in an all-stock deal valued at approximately USD $850 million based on a share price of C$8.79. Harvest Health stock jumped over 15% on the news to lately trade at C$9.56. The deal is expected to close in the first half of 2019.
We are in the midst of earnings season, so let’s jump in.
Acreage Holdings, Inc. (CSE: ACRG.U) (OTCQX: ACRGF) delivered fourth-quarter revenue of $10.5 million for an increase of 380% over the previous year’s $2.1 million. The fourth-quarter net loss of $217.6 million. The pro forma revenue* for the fourth quarter was $22.9 million and the pro forma adjusted net loss*, was $10.8 million. The company has been on a tear with its expansion During the fourth quarter of 2018, Acreage opened two dispensaries under its The Botanist brand in Buffalo, NY and Worcester, MA, and acquired one dispensary in Thames Valley, CT, ending the year with 19 dispensaries (as of today, Acreage has 24 operational dispensaries).
HEXO Corp (TSX: HEXO; NYSE: HEXO) delivered its financial results for the second quarter of the 2019 fiscal year with gross revenue of $16.2 million an increase of 1,269% versus the same time period for last year. Revenues increased by 114% sequentially. The company reported a net loss for the quarter of $4.3 million, which was a big improvement over last year’s net loss of $8.9 million for the same time period. This week the company also said it was acquiring Newstrike Brands in an all-stock deal valued at approximately $263 million.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced results for the fourth quarter and year ended December 31, 2018. IIPR generated rental revenues of approximately $4.7 million in the quarter, representing a 111% increase from the prior year’s quarter and in line with the Yahoo! Finance analyst estimate.
Zynerba (ZYNE) reported a net loss for the fourth quarter of 2018 of $7.8 million with a basic and diluted net loss per share of $(0.44). That beat analyst estimates by $0.21 cents.
CV Sciences, Inc. (OTCQB: CVSI) reported its financial results for 2018. The company delivered revenue of $48.2 million for an increase of 133% over 2017. The company also reported net income of $10.0 million, or $0.09 per fully diluted share.
“The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) has entered into a multi-year extraction services contract with Valens GroWorks Corp. (CSE: VGW) (OTC: VGWCF).