Benzinga Archives - Green Market Report

StaffApril 13, 2023


The Daily Hit is a recap of the top financial news stories for April 13, 2023.

On the Site

Cannabis Water CEOs Plead Not Guilty in Pump & Dump Scheme

The former CEOs of American Premium Water Corp., Zachary Davis and Ryan Fishoff, pleaded not guilty in a $10 million pump-and-dump scheme that cost Ohio investors more than $219,000. The indictment was first filed in the Northern District of Ohio on March 8 against six individuals associated with the cannabis-infused water company. Read more here.

Michigan Cannabis Market Keeps Breaking Its Own Sales Records

The Michigan marijuana market continued to break records in March, hitting a new sales high of almost $250 million for the month, after selling $2.3 billion in 2022. The new sales record includes $9.8 million in medical marijuana sales and $239.8 million in recreational cannabis sales, for a total of $249.6 million in March, according to data from the Michigan Cannabis Regulatory Agency. Read more here.

Connecticut Approves Three More Social Equity Retailers

The Connecticut Social Equity Council last week signed off on the trio of equity joint venture shops for Budr Hartford Holding Corp. The joint ventures are essentially partnerships between social equity entrepreneurs and established companies that will front startup expenses for the new dispensaries. Read more here.

Avant Brands Delivers Solid Quarter

After the markets closed on Wednesday, Avant Brands Inc (TSX: AVNT)(OTCQX: AVTBF) reported its revenue rose 71% to $7.9 million for the fiscal first quarter that ended Feb. 28, 2023. The net loss from operations of $100,000 (an improvement of 98% or $1 million). Read more here.

Benzinga Miami Reveals More Cracks in Cannabis

Despite a struggling stock market, consumer demand for cannabis is higher than ever – and companies are focused on creating clear, enjoyable experiences to drive growth. That sentiment permeated the recent Benzinga Cannabis Capital Conference in Miami, where cannabis industry leaders gathered to discuss strategies and insights. Read more here.

In Other News

Ignite International Brands

A consulting firm is asking a Nevada federal court to award it nearly $157,000 in legal fees a week after winning a $1.6 million judgment against a cannabis company run by Instagram celebrity Dan Bilzerian in a contract dispute. Read more here.


Urban-gro Inc. (Nasdaq: UGRO) signed more than $40 million in contracts in the first quarter 2023, bringing the company’s total backlog to a record $123 million as of March 31, 2023. The company also reiterated its guidance, and in the first quarter of 2023, the company received $2.4 million of cash following a settlement with its former bank. Read more here.


Marijuana grower and retailer Insa has laid off staff in recent weeks, citing numerous challenges from out-of-state competition that did not exist months before, according to Peter Gallagher, CEO and co-founder. Gallagher did not specify how many jobs were cut. Read more here.

StaffApril 11, 2023


The Daily Hit is a recap of the top financial news stories for April 11, 2023.

On the Site

New Jersey Cannabis Consumption Lounges in the Works

Consumption lounges are a niche business sector within the larger marijuana trade, but more states are embracing the possibility, including New Jersey, where a number of businesses are already in the works. All lounges will need to be connected directly to a licensed retailer – but plenty of those have already been awarded licenses and are either operational or under construction. Read more here.

Silver Linings for Cannabis at Benzinga Conference

It was a monsoon in Florida as the Benzinga conference got under way in Miami. The weather seemed fitting as the cannabis industry continues to weather its storm. However, despite the headwinds for the industry, many on Day 1 spoke with optimism and finding the silver linings in cannabis. Read more here.

Connecticut Medical Marijuana Sales Stay Ahead of Adult Use 3 Months In

After three months of recreational marijuana sales in Connecticut, the medical side of the industry is still outperforming adult use on sales, with $12.6 million in MMJ sales and $9.6 million in recreational for the month of March. That’s after medical cannabis sold $8 million in January compared to $5.1 million for recreational, and in February, those numbers both spiked to $11.4 million in medical sales and $7 million in recreational sales. Read more here.

Massachusetts Dispensary Demands $1.4 Million Refund from Host City

A cannabis dispensary in south-central Massachusetts has filed suit against the town of Uxbridge where it operates, claiming that city officials can’t justify charging the company roughly $1.4 million in “community impact fees,” a long-controversial policy across the state’s marijuana industry that has spawned other lawsuits in the past. Read more here.

In Other News

1CM Inc.

Cannabis retailer and technology provider 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) (FSE: IQ70) entered into a letter of intent to acquire Nugget Data, a cannabis technology platform founded by industry veterans. Read more here.

PharmaCann Virginia

Virginia’s medical cannabis market remains limited to four licenses owned by three vertically integrated operators, but a fifth license could soon be back in play. PharmaCann Virginia LLC lost an appeal April 4 in the Virginia Court of Appeals, dealing another win to the state’s Board of Pharmacy over a conditional license it rescinded nearly three years ago. Read more here.

StaffSeptember 14, 2022


The Daily Hit is a recap of cannabis business news for Sept. 14, 2022.


Tempered Optimism On Cannabis Industry Future At Benzinga Chicago Conference

A diverse swath of cannabis industry insiders at the Benzinga Capital Conference this week in Chicago expressed high-flying optimism heading into 2023, but they also hedged by acknowledging the immense business hurdles that marijuana entrepreneurs still face. Read more about sentiment on the cannabis industry here.

High Tide Revenue Keeps Rising With Resilience In M&A, Members Program

Pointed consolidation efforts and increased participation in its member loyalty program drove High Tide‘s (Nasdaq: HITI) (TSXV: HITI) third-quarter revenue to nearly double what was reported last year. “These impressive numbers come despite hypercompetitive cannabis retail markets across Canada and a global softening of e-commerce sales as pandemic-related restrictions are continuing to be lifted,” CEO Raj Grover said in a news release. Read more about High Tide’s rising numbers here.

Green Market Report’s Cannabis Tech Awards Profile: Puffco, Coolest Consumption Tech

Puffco’s mission has always been to make “the magic of concentrates accessible to everyone.” The company’s advanced push-button technology hardware and accessories for vaping and dabbing helped make the category significantly more friendly to a wider group of cannabis consumers. This is why Green Market Report honored Cannabis Media at the first ever Green Market Report Tech Awards in San Francisco. Read more about Puffco’s cool consumption tech here.


Curio Wellness Announces Four New VP Positions

Curio Wellness, a cGMP-certified, vertically integrated medical cannabis company, created four new created vice president positions representing additional expertise in the areas of expansion & integration, supply chain, marketing and brand development. The appointments will help support Curio’s three-year strategic plan. Read more here.

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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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