Marijuana Money March 19, 2021

Cresco Labs (OTCQX:CRLBF) said it was buying Massachusetts-based Cultivate Licensing LLC and BL Real Estate LLC  for roughly $90 million, plus an earnout of up to $68 million. The company has two operational dispensaries in Leicester and Framingham and a third dispensary in Worcester is expected to open in the second quarter of 2021. The deal is expected to close in the fourth quarter of 2021.

 

Cannabis SPAC (special purpose acquisition company)  Greenrose Acquisition Corp. (NASDAQ: GNRSU, GNRS, GNRSW)  said it was acquiring four cannabis companies, which it has dubbed The Platform. The companies are Shango Holdings, Futureworks, Theraplant and True Harvest. The total initial transaction value is $210 Million with a maximum earnout of $110 million. Greenrose plans to initiate an offering of $150 million.

 

 Green Thumb Industries Inc.  (OTCQX: GTBIF) reported its financial results for the fourth quarter and full-year ended December 31, 2020. Revenue for Green Thumb increased 133.8% to $177.2 million for the fourth quarter over the same time period in 2019 and increased 12.8% sequentially. This beat analyst’s estimates according to Yahoo Finance for $167 million.

 

TPCO Holding Corp.  also known as The Parent Company (OTCQX: GRAMF), formerly Subversive Capital Acquisition Corp., The company’s unaudited consolidated pro forma revenues for the fourth quarter were $40.2 million, a 40% increase versus $28.7 million in the fourth quarter of 2019. The company also reported that its unaudited consolidated pro forma revenues for the year ended 2020 were $188.7 million.

 

Columbia Care Inc. (OTCQX: CCHWF)  reported Revenue rose 234% in the fourth quarter to $81.7 million versus $24.5 million for the same time period in 2019. The net loss for Columbia Care in the fourth quarter was $73 million versus last year’s net loss of $28 million.

HEXO Corp. (NYSE: HEXO) reported that its total net revenue in the second quarter increased $3.4 million to $32.8 million from $29.4 million in the first quarter due primarily to 11% growth in non-beverage adult-use cannabis sales and 11% growth in the adult-use beverage category. 

 

GrowGeneration Corp . (NASDAQ: GRWG) is buying another company. This week it said it was buying Char Coir, an RHP-certified growing medium made from coconut fiber. The chain also bought 55 Hydroponics, a hydroponic and organic fertilizer superstore located in Santa Ana, California. The company wasn’t done, it also said it was buying Aquarius Hydroponics, which is one of the largest hydroponics retailers in New England.

 

Video Staff

Video Staff


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