Aurora Cannabis Inc Archives - Green Market Report

William SumnerWilliam SumnerMarch 28, 2019
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4min3660

It’s time for your Daily Hit of cannabis financial news for March 28, 2019.

On the Site

CannTrust Holdings Inc.

Sales are up, but profits are on the decline for CannTrust Holdings Inc. (NYSE: CTST) as the company releases their financial results for the fourth quarter and year ending on December 31, 2018.

SAFE Banking Act Advances As Committee Votes For Approval

The House Financial Services Committee voted 45 to 15 to advance the Secure and Fair Enforcement (SAFE) Banking Act. Currently, Federal law prohibits banks from providing banking services to cannabis companies since cannabis is illegal despite some states legalizing cannabis.

In Other News

MJIC Inc.

MJIC Inc. announced today that it would change its name to ManifestSeven. The company is rebranding itself as part of its preparation to go public in Canada in the first half of 2019. “Our new name – ManifestSeven – speaks to the evolution of our company and the destiny of legal, compliant cannabis in the United States,” said Sturges Karban, ManifestSeven’s Chief Executive Officer and Director. “As we prepare to enter the public markets, we are already seamlessly integrating fully compliant operations across California, creating the cannabis industry’s first omnichannel distribution and retail superhighway. Our name change speaks to our ambition to continue growing in California and other markets as they legalize across other states.”

Aurora Cannabis Inc.

Aurora Cannabis Inc. (NYSE: ACB) announced that the company has added product information numbers (PINs) to 78 medical cannabis products. The PINs are meant to help track insurance coverage for medical cannabis patients. Patients hoping to submit health insurance claims to third party providers will be able to specifically identify the products they use, which in turn will theoretically help speed up the coverage process.

Flower One Holdings Inc.

Flower One Holdings Inc.  (CSE: FONE) announced that it has closed its previously announced public offering of unsecured convertible debenture units of the company. Issuing 50,000 units as a priced of $1,000, the company raised $50 million. The net proceeds of the offering will go towards working capital, general corporate purposes, finishing the development and construction of a production facility in Nevada, and the payment of outstanding notes.

Newstrike Brands Ltd.

Newstrike Brands Ltd. (TSXV: HIP) announced that it will invest $5 million in Green Tank Technologies, a manufacturer of cannabis vaporizer hardware and technology. “. Our strategic investment in Green Tank puts us in a strong position to become a preferred supplier of end-to-end vape solutions to the adult use recreational market,” said Mark E. Burton, Chief Strategy Officer, Newstrike Brands.


William SumnerWilliam SumnerOctober 26, 2018
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5min3700

It’s time for your Daily Hit of cannabis financial news for October 25, 2018.

On the Site

MedMen Enterprises

MedMen Enterprises (MMNFF) reported fourth quarter revenues of $20.6 million, an increase of 1,317% over last year’s $1.5 million and a 44% sequential increase over the third quarter revenue of $14.3 million. The jump was attributed to the number of stores that came online during the quarter. However, operating expenses for the fourth quarter, including SG&A, was $72.6 million.

Canadian Cannabis Companies Report Record Sales Post-Legalization

It has been a little more than a week since recreational cannabis sales were launched in Canada, and already the policy has become a big hit. Millions of dollars in cannabis sales have already been recorded, and in the province of British Columbia alone there have been more than 21,000 transactions.

Cannabis Companies Are Navigating Trump’s Tariffs

Medical Marijuana, Inc. (OTC: MJNA) CEO Dr. Stuart Titus tells Green Market Report how his company has had to navigate the rapidly changing landscape when it comes to President Trump’s approach to international trade and tariffs.

In Other News

Aurora Cannabis Inc.

Aurora Cannabis Inc. (ACB) announced that the Polish Ministry of Health has given the company approval to import its first shipment of medical cannabis, which is expected to occur over the next several days. Aurora Deutschland GmbH will ship the product to a hospital and a pain treatment in Warsaw. “Becoming the first company to supply cannabis to Poland is validation of Aurora’s ability to do business in international markets with high barriers to entry,” said Neil Belot, Chief Global Business Development Officer for Aurora. “This is an important milestone for patient access in Poland…”

Namaste Technologies Inc.

Namaste Technologies Inc.  (N) today closed its previously announced bough deal short form prospectus offering, which included the full exercise of the over-allotment option. In total, 17.25 million units of the company were sold at a price of $3.00 per unit; generating $51.75 million in funding. Each unit consisted of one common share and three quarters of one common share purchases warrant. Eight Capital and Canaccord Genuity Corp. acted as co-lead underwriters and joint book runners. The underwriters for the deal received a 6% commission of the gross proceeds. The proceeds from the offering will be used by the company to general working capital; as well as inventory and supplies, capital improvements, personnel and facility operations, etc.

4Front Holdings, LLC

4Front Holdings, LLC announced that it has closed a private placement of equity securities. Initially seeking $15 million, the company increased the initial amount to $31 million due to increased demand. Eight Capital acted as the lead underwriter and bookrunner. The proceeds of the offering will go towards the funding of ongoing investments, the buildout of its multiple Mission-branded dispensaries and cultivation facilities, and for merger and acquisition opportunities. “The success of the Offering demonstrates that our message of pursuing prudent yet aggressive growth is resonating with investors,” said Josh Rosen, 4Front CEO and co-founder. “I’m particularly excited by the caliber of our new investors, as well as the broad participation in the Offering by our existing investors.”


William SumnerWilliam SumnerMay 10, 2018
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4min6240

This is your Daily Hit of cannabis news for May 10, 2018:

On The Site

Opinion: Overwhelming Public Support For Marijuana Doesn’t Mean Legalization

In recent days, it seems the dam has broken and a string of positive developments have materialized for marijuana reformers—welcome news to the legal marijuana industry, the voters who supported it, and the local communities relying on it for new tax revenues. But given the structure of anticipated reforms—and the history of the implementation of prior reforms—the path ahead is unlikely to be smooth. Continue Reading…

In Other News

Aurora Cannabis Inc.

Following a less than stellar release of its quarterly financial statements, Aurora Cannabis Inc. (ACB) has announced that, following escrow release conditions, the company has acquired 2.3 million shares in Alcanna Inc. (CLIQ), formerly known as Liquor Stories NA, to the tune of $34.6 million. Aurora now holds 9.2 million shares in Alcanna, which represents approximately 25% ownership in the company (on a non-diluted basis). Alcanna will use the proceeds to establish a chain of adult use cannabis dispensaries, approximately 50 stores in total.

Liberty Health Sciences Inc.

Liberty Health Sciences Inc. announced that is has closed its short term prospectus offering on a bought deal basis, which includes the full exercise of the underwriters over-allotment option. In total, 23,55,875 units of the company were sold at $0.90 per unit, for approximately $23 million. A unit of the company consists of one common share and one common share purchase warrant, which entitles the holder to purchase one common share of the company until May 10, 2020 at a price of $1.10 per share. The company will use the proceeds from the offering to partially fund the purchase of a 75% ownership stake William Noyes Webster Foundation, Inc.

Namaste Technologies

Namaste Technologies Inc. (N), announced that, in accordance with its previously announced letter of intent, the company has signed a share purchase agreement to acquire 51% of the outstanding shares with 2624078 Ontario Inc., also known as Infinite Labz. As Infinite Labz seeks to become a Health Canada Licensed Producer and Dealer of medical cannabis oil, Namaste has agreed to finance the construction of a production facility for the company in Etobicoke, Ontario. Once construction and licensing is complete, Infiinte Labz will sell low cost medical cannabis oils and extracts through Namaste’s subsidiary, Cannmart Inc. “We are very pleased to have entered into a definitive agreement as we believe that the facility at Infinite Labz can be instrumental in allowing Namaste to participate in the recreational market,”stated Namaste President and CEO, Sean Dollinger.



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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


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