Green Market Report's Marijuana Money May 31, 2019

Even though it was a shorted trading week due to the Memorial holiday, there were a lot of big earnings.

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) reported that revenue rose by 22% to $36.6 million in the third quarter. However, the company still reported a huge net loss of $63.1 million amid all of its legal troubles.

Acreage Holdings, Inc.  (ACRG-U.CN) (ACRGF) reported that its revenue rose 487% to $12.9 million, but the company also delivered a whopping net loss of $31.2 million. Looking at pro forma results, the revenue would have been $33.1 million and the adjusted net loss would have been $15.5 million. On the company’s conference call, Murphy said he wanted the company to become the “Proctor & Gamble of cannabis.” He highlighted the Form Factor acquisition saying it was a prudent use of shareholder money. Suggesting that other companies were paying high prices for fewer returns on their acquisitions.

Charlotte’s Web Holdings, Inc. (CSE:CWEB) (OTCQX:CWBHF) reported Q1 revenue growing 66% to $21.7 million. The net income dropped to $2.3 million from last year’s $3.1 million.

Origin House (CSE: OH) (OTCQX: ORHOF) said its Revenue for the first quarter was $11.2 million,

MJardin Group, Inc.  (CSE: MJAR) (OTCQX: MJARF) reported its financial results for the quarter ending March 31, 2019, in Canadian dollars. The company delivered revenues of $10.9 million versus last year’s $6.7 million for the same time period

Acquired Sales Corp. (OTC Pink: AQSP) signed a letter of intent to acquire 100%  Illinois-based Warrender Enterprise Inc. also known as Lifted Liquids for approximately $7.5 million in cash, plus 4,545,455 shares of Acquired Sales Corp.’s common stock.

MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF) entered into an agreement with Scotiabank, in which the underwriters have agreed to purchase on a bought deal basis 10,815,000 common shares of the company at a price of $5.55 per Share for gross proceeds of $60 million

FLRish Inc. also known as Harborside, announced that it has closed an approximately C$19.65 million private placement of subscription receipts.

Cannabis Strategies Acquisition Corp. will now be known as AYR Strategies and began trading on the NEO Exchange in Canada under the symbols NEO: AYR.A.

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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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