Marijuana Money: September 17, 2021

On Tuesday, the Food & Drug Administration (FDA) issued a warning about Delta-8 THC noting that the product hasn’t been evaluated or approved by the agency. Granted the FDA’s opinion on anything cannabis-related is received with a healthy dose of skepticism. The FDA still hasn’t made any determination on CBD after years of discussion and research. The notice described 22 hospitalizations from side effects, while the Poison Control Center reported over 600 cases. 

It’s a sign of how difficult it is to be a CBD-only company. This week Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) filed for the Canadian version of bankruptcy. According to Plus’ filing, it has secured court protection from its creditors under the Companies Creditors Arrangement Act or “CCAA”, in order to restructure its business and financial affairs. Plus Products has canceled its Annual General Meeting previously scheduled for September 14, 2021.

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) has closed its previously announced acquisition of Massachusetts-based Nature’s Remedy in a deal valued at $91.2 million. Jushi also noted that the deal was revised resulting in 4.3 million fewer shares issued to Nature’s Remedy.

Fire & Flower Holdings Corp. (OTCQX: FFLWF) announced that revenue for the fiscal 2nd quarter rose 51.4% to $43.3 million over last year’s $28.6 million. Fire & Flower delivered a net income of $19 million versus last year’s net loss of $29 million.

High Tide Inc. (NASDAQ: HITI) reported its revenue increased by 99% to $48.1 million for the third fiscal quarter versus $24.1 million in the same quarter last year.

In acquisitions this week,

Acreage Holdings, Inc. (OTC: ACRHF, ACRDF) is selling its four Oregon dispensaries to Chalice Brands Ltd. (CSE:CHAL) (OTCQB:CHALF).  The deal is valued at $6.5 million. Acreage’s four Oregon retail dispensaries are branded as Cannabliss and the sale will end the company’s presence in the state. The company said in a statement that the Oregon stores were negatively affecting the company’s bottom line.

WM Technology, Inc., better known as Weedmaps  (Nasdaq: MAPS) is buying Sprout, a leading, cloud-based CRM & marketing platform for the cannabis industry. Weedmaps did not disclose the valuation of the deal. 

Akerna (Nasdaq: KERN) is buying 365 Cannabis, a cannabis business management software system built on Microsoft’s Dynamics 365 Business Central in a $17 million deal at 2.1x LTM revenue. 

Video Staff


One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.


About Us

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


READ MORE



Recent Tweets

@GreenMarketRpt – 13 hours

We are stoked to open up nominations for the 1st ever GMR Cannabis Tech Awards. They will be announced at the GMR T…

@GreenMarketRpt – 15 hours

Flower One’s Revenue Drops In Fourth Quarter, Restructures Debt Payments

@GreenMarketRpt – 16 hours

SPACS Losing Their Mojo As Deals Get Pushed Out

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.