Marijuana Money: March 12, 2021

The cannabis industry’s fear of big tobacco trying to elbow into the industry has finally come true with today’s announcement of a $175 million investment into Organigram Holdings Inc. (NASDAQ: OGI) from a wholly-owned subsidiary of British American Tobacco or BAT (NYSE: BTI). The BAT subsidiary has subscribed for approximately 58.3 million common shares of OGI, which represents a 19.9% equity interest.

Moving on to earnings

Curaleaf Holdings, Inc. (OTCQX: CURLF)  reported managed revenue increased 186% to $233.3 million in the fourth-quarter ending in December and grew 21% sequentially. For the full year of 2020, revenue grew 161% to $653 million. 

Ayr Wellness Inc. (OTCQX: AYRWF) reported revenue rose 48% in the fourth quarter to $47.8 million versus last year’s $32.3 million and an increase of 5% sequentially. Ayr Wellness also trimmed the operating loss to $2.2 million from last year’s operating loss of $16.9 million. 

Acreage Holdings, Inc.  (OTCQX: ACRHF, ACRDF) reported financial results for the fourth quarter and full-year ended December 31, 2020, after the market close on Tuesday. The fourth-quarter revenue for Acreage increased 50% to $31.5 million, while the net loss was $36.9 million. 

The Green Organic Dutchman Holdings Ltd.  (OTC: TGODF) reported in the fourth-quarter, its revenues increased 236% to $10.92 million versus $3.25 million in Q4-2019. The Green Organic Dutchman fourth-quarter net loss improved to $23.68 million versus $144.75 million for the same period in 2019.

Biotech company  Zynerba Pharmaceuticals, reported its fourth-quarter results. The company has no revenues to report at this time. The net loss for the fourth quarter of 2020 was $9.6 million 

In financial deals, California-based Harborside Inc. (OTC: HBORF) has completed a $5 million strategic investment in LPF JV, LLC otherwise known as Loudpack, through a 15%, secured convertible note due December 2022. 

Aleafia Health  (OTC: ALEAF) closed its previously announced bought deal offering that raised $22.7 million.

And finally in stock news 

Aurora Cannabis Inc.  (NYSE: ACB) has filed a new preliminary short form base shelf prospectus to offer up to $1 billion in securities

Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) has applied to the Canadian Securities Exchange to have its common shares listed for trading on the CSE.

Video Staff

Video Staff


Leave a Reply

Your email address will not be published.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


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 – 16 hours

If you didn’t catch our virtual event today – no worries. It was recorded and will be posted to our YouTube channel.

Back to Top

You have Successfully Subscribed!