This week Green Market Report launched its Psychedelics industry newsletter called Psychedealia. We’re really excited to expand our newsletter offerings and allow you to Choose your News.
This week’s earnings season kicked off with a big name. The Scotts Miracle-Gro Company (NYSE: SMG) reported that company-wide sales in the quarter dropped 24% to $566 million. The company also announced plans to restructure its hydroponic subsidiary Hawthorne after sales dropped. Scotts said it would take a restructuring charge of up to $5 million in the second quarter as a result of its restructuring.
Verano (OTC: VRNOF) made a big move into the coveted New York market with a large acquisition. Chicago-based Verano is buying Goodness Growth Holdings in an all-stock deal valued at $413 million. Goodness Growth has a presence in New York through the Vireo Health subsidiary. New York is in the process of creating its program for adult-use sales which are expected to begin in 2023.
Like a broken record, High Times has seen another CEO depart and has extended its Reg-A offering yet again. Peter Horvath resigned from his position as CEO and Director. Paul Henderson was named the newest CEO making that 4 CEOs in as many years. Henderson is also the interim CFO.
Columbia Care raised $185 million in an offering of senior notes this week
While HEXO Corp received notification from the NASDAQ marketplace that it is not in compliance with the minimum bid price of $1 per share. The company will have a limited amount of time to get its share price back up to that mark
And iAnthus finally closed on its acquisition of MPX New Jersey. The deal was originally announced in 2018 but got mired in numerous lawsuits.