Marijuana Money: September 24, 2021

First big news. Green Market Report is being acquired by Crain Communications. We are excited to join the team and expect to grow and expand. I will continue as Executive Editor and we will keep bringing you the quality journalism you’ve come to expect.

And speaking of acquisitions Michigan-based SKYMINT, is buying 3Fifteen Cannabis and also closing its $70 million Senior Secured Term Loan from Tropics LP, an affiliate of SunStream Bancorp, a joint venture sponsored by Sundial Growers and its $8 million equity investment from Merida Capital Holdings. The acquisition will bring Skymint’s workforce to 730 employees and a combined retail portfolio of 27 locations totaling 101,000 square feet, with an additional 18+in the 2021-2022 pipeline.

Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) paid $1.35 million for a property in Missouri and entered into a long-term lease with CPC of Missouri – Smithville, LLC (CPC), a subsidiary of Calyx Peak, Inc. (Calyx). CPC is expected to construct approximately 83,000 square feet of industrial space at the property, for which IIP has agreed to provide reimbursement of up to $26.72 million. 

Stem Holdings, Inc., also known as Driven by Stem (OTCQX: STMH) (CSE: STEM), is buying an Oregon-based extraction company called Artifact Extracts and two dispensaries. The deal is valued at $2.9 million 

The (SEC)  filed charges against three individuals and one issuer on a crowdfunding scheme for two cannabis companies that raised $2 million. The money was supposed to be used to buy and invest in cannabis properties, but no money was ever used for those purposes. Instead, the money was siphoned off for personal use. In addition to that, the SEC also charged the registered crowdfunding portal, TruCrowd, and its CEO Vincent Petrescu, who placed the offerings on the portal’s platform.

This week Stifel analysts issued a huge report updating investors on their outlook for the cannabis industry. The group lowered estimates and price targets on several companies. They also noted they have a negative outlook on the Canadian cannabis industry and Canopy Growth in particular. With regards to the U.S. market, the analysts don’t believe the current administration will change the legality of the industry but believe this is actually a positive thing.

Video Staff


3 comments

  • joe shane

    September 26, 2021 at 7:17 pm

    what was the judges decision on sept 23
    2021 ianthus ang gotham green

    Reply

    • Debra Borchardt

      September 27, 2021 at 8:22 am

      The Application was heard by the Honourable Mr. Justice Penny of the Ontario Superior Court of Justice (Commercial List) (the “Court”) on September 23, 2021. At the conclusion of the hearing, Justice Penny reserved his decision and extended and supplemented the terms of the stay the Honourable Mr. Justice Hainey previously ordered on August 24, 2021 (as supplemented, the “Stay”). The Stay will remain in place from September 23, 2021 until forty-eight (48) hours after the release of Justice Penny’s decision on the merits of the Application, unless otherwise agreed to by the parties to the Application or ordered by the Court.

      Reply

      • Joe Shane

        September 30, 2021 at 12:04 pm

        Thank you Debra, congrats on your sale of GM reports..

        I am a heavy investor in iAnthus……….and appreciate your coverage…….thank you…….please keep me/us all current ……

        Reply

Leave a Reply

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

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

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 – 4 days

One last before the holidays. Sending out and turning off the lights.

@GreenMarketRpt – 4 days

We know you love your family, but even the stress can sometimes be a little too much and can take off the…

Back to Top

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Monday morning.

We respect your privacy. See our privacy policy.