cannabis Archives - Green Market Report

StaffStaffJanuary 1, 2020
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3min4360

Cannabis Cocktail master Warren Bobrow brings in the new year with a New Year’s day winter punch created with the award winning Saka Pink, and we are all looking forward to tasting it!

Photo Credit: Cocktails de L’Apothicaire By Warren Bobrow

 

Saka Pink was carefully selected as the perfect mixer for this wonderfully well balanced sipper.

It should be served ideally in a coupe glass, which you may remember also used to be used for Champagne.
If you are still using them for Champagne, STOP NOW!
Only use it for this cocktail.
For Champagne, use a Burgundy glass.. much, much better.

Photo Credit: Traci Seville

Saka New Year’s Punch Made even more effervescent with Fruitations Tangerine Syrup and Pickett’s Ginger Beer
RECIPE
Ingredients:
1 750ml bottle of  Saka— THC Infused-dealcoholized Napa Valley wine
6 oz. Fruitations Pure Natural Tangerine Simple Syrup
4- 12oz. Cans of Ginger Beer- I used Pickett’s – it’s Authentic and in a can!
10 shakes of Fee Brothers Lime Bitters
Grilled orange slices
Prep:
For a crowd
Add all the liquid ingredient (except for the ginger beer) into a punch bowl
Mix carefully and completely
Add a block of ice
Add the Ginger Beer fizzy soda
Add the lime bitters
Add the grilled orange slices
Stir again and serve to a very thirsty crowd

Kaitlin DomangueKaitlin DomangueDecember 18, 2019
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12min2530

Its time for your Daily Hit of cannabis financial news for December 18th, 2019.

On the Site

Elixinol Continues To Navigate CBD Labeling Rules

Green Market Report sat down at the 2019 MJBiz Conference with Leif Harrison, the CEO of Elixinol. Debra and Leif discussed the frustrating issues surrounding hemp regulations in the United States. Elixinol figured there would have been more concrete movement at the end of 2019 then there has been in terms of labeling products. Elixinol’s CEO said it can all be boiled down to one question, “Is CBD a dietary supplement or isn’t it?” Debra at Green Market Report mentioned to Leif that companies have been getting warning letters because of the terms that have been used for marketing, and how it seems that it is getting harder and harder to simply describe the products. Leif says, it absolutely is and it is a constant battle to say the right thing, especially when the right thing is changing all of the time. Leif also talked with Debra about Elixinol’s recent rebranding, as well as adding organic products to their already highly-rated product portfolio. Elixinol’s CEO also touched on pulling out of Japan’s market.

Executive Spotlight: Oregrown’s Aviv Hadar

Green Market Report talked to Aviv Hadar, the CEO and co-founder of Oregrown Industries, Inc. He has been in this role for six years and transitioned to cannabis from the tech sector. Before Oregrown, he was attending school at the University of Montana for computer science. He stopped school to found a software company that recently celebrated its 10th year in existence.

Oregrown is a farm-to-table cannabis company based in Oregon. They use organic methods to produce high-quality products. Oregrown is the first, exclusive Oregon producer for PAX Era. The company also crafts several of the state’s premier dispensary products including their own lines of Oregrown flower, extracts, and concentrates. Oregrown’s flagship dispensary located in downtown Bend, Oregon has won several awards including Best Budtender (2019), Best Place to Work (2017), Bend’s Best Place to Visit for First Dispensary Experience (2016), and Bend’s Best Dispensary five years in a row (2015-2019). They consider their best achievements to be winning Best Dispensary for five years in a row in downtown Bend, being voted the best place to work for two years in a row, and voted startup of the year by Bend Chamber of Commerce. The company has raised capital and plans to do so as well in the future. The company’s most important five-year goal? Aviv Hadar says it simply, “growth and profitability. If the perfect M&A transaction emerges, to take the ride.”

GrowGeneration Buys Oregon’s GrowWorld

GrowGeneration Corp. (NASDAQ: GRWG) has purchased the assets of Portland, Oregon-based GrowWorld for an undisclosed amount. GrowWorld was founded in 2011 and is the largest retail and warehouse garden space by square footage in the state. In addition to that, it has the highest sales volume of a hydroponic store in Portland and the highest revenue in the state.

A GrowGen statement said that “The GrowWorld acquisition is our 8th in 2019, adding an accretive $5.0 Million in revenue to our Company.  GrowWorld is one of the largest hydroponic stores in Oregon and strengthens our position in the Pacific Northwest region, that currently includes our Seattle location. With over 700 commercial cultivation licenses and a strong medical caregiver program, we feel we can capture a large market share of the Oregon hydroponic supply market.”

Leafly Expands Into E-Commerce, Data

Green Market Report sat down with Dave Cotter at Leafly during the recent MJBiz Conference in Las Vegas. Dave talked with Debra about their recent launch of Leafly Market, an e-commerce platform for purchasing the largest selection of CBD products. It has been said that Leafly’s e-commerce expansion was an organic one, because of the education Leafly already provides on different strains and dispensaries. Dave says that the company was “responding to where [their] customers are pulling [them], which is now that I understand or now that I’m educated, I now want to buy something. And so we’re creating a platform that allows them to do so.” The company also recently announced its partnership with the American Marijuana Medical Physician’s Association and their plans to work on a joint curriculum for different doctors.

The Rise of Do-It-Yourself CBD

DIY CBD is thriving. Recipes for products ranging from gummies to facial scrubs and beard wax to candles and personal lubricant jostle for space online. A small 30ml bottle of CBD oil can cost up to $300 depending on the quality and strength per dose, so many are turning to crafting their own products at home. The process in most cases is not overly onerous, although the hemp flower buds must be “decarboxylated” before use, which is an intimidating term that simply refers to the process of putting the hemp buds under low heat (between 225-245 degrees Fahrenheit) for about an hour in order to activate their chemical and pharmacological effects. Afterward, the hemp buds are ready to be used for teas, cocktails, baking, infused into oil, etc. It sounds pretty straightforward, but there is still room for frustrating and costly user error to occur. If a recent study cited by Iris Dorbian in Forbes Magazine is accurate and the CBD market could indeed surpass $20 billion dollars by 2024, there is plenty of room for DIYers and entrepreneurs alike to work for CBD, and make CBD work for them.

In Other News

Akerna to Acquire Canadian Cannabis Software Provider Ample Organics

Akerna, developer of the industry’s first seed to sale enterprise resource planning software technology (MJ Platform), has entered into a definitive agreement with Ample Organics Inc. to acquire all of the issued and outstanding shares of the company. The cash and stock transaction was valued at up to $45 million USD. The possibility of Akerna paying an additional $7.6 million in the form of stock-based deferred consideration may be paid to Ample Organics shareholders, pending specific certain revenue targets are reached by Ample Organics in the 2020 calendar year. Ample Organic’s projected 2020 calendar-year revenue is $8.7 million, reaching projected-cash flow positive in the second quarter. The acquisition multiple on 2020 revenue is 5.2x, assuming the deferred consideration is achieved in full. The purchase is expected to close by the end of Q1 2020.

Green Growth Brands Terminates Its Bid for Moxie

Green Growth Brands announced the termination of its proposed business combination with Moxie, amid the market’s adjustment to the changing macro environment. CEO of Green Growth Brands, Peter Horvath, says, “We are aggressively growing our businesses across America as we drive to become a leading cannabis retailer in the country. While we continue to be open to collaborating with other industry leaders, we need to ensure we are focused on building our operational strengths, maximize our returns and, most importantly, avoiding excessive dilution to our shareholder base.” The company will continue with its powerful growth in multi-state operations and CBD businesses. The MSO business includes a 47 dispensary rollout in three key states.

 

 

 


Kaitlin DomangueKaitlin DomangueNovember 19, 2019
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9min4210

Its time for your Daily Hit of cannabis financial news for November 19th, 2019.

 

On the Site

 

HEXO Admits To Growing Cannabis In Unlicensed Room

 

HEXO released a statement explaining they were unknowingly growing cannabis in an unlicensed area of their facility. They did not know about this section of their facility being an unlicensed portion until their acquisition from Newstrike Brands. They quickly notified Health Canada and they were satisfied with the company’s actions to remedy the situation.

 

Canopy Growth Gets Big New York Tax Break

 

Canadian cannabis producer Canopy Growth is set to receive a large tax break for their new Kirkwood, New York facility. Canopy will receive a standard 15-year payment-in-lieu-of-taxes deal, qualifying for a 39% reduction in property taxes for the first five years of the agreement. When all is said and done, their tax break will equate to $1.7 million.

 

Merida Capital, Minority Cannabis Business Assoc. Announces Winners of Accelerator Program

 

Minority Cannabis Business Association and Merida Capital Partners announced the winning recipients of investmentthrough the Inclusive Industry (“i2”) Accelerator, which will deploy $500K initially to fast-track the development of five minority-owned businesses. MCBA and Merida launched i2 earlier this year to accelerate the development of minority-owned businesses in the cannabis and hemp industry by creating a meaningful executive mentorship program for underserved communities. The recipients are: Vega Holdings, High Road, Higher Learning Institutions, James Henry, and Canna Bistro.

 

Money Moves: Flowr, Meta Growth

 

The Flowr Corporation (TSXV: FLWR)(OTC: FLWPF) reported that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility.

National Access Cannabis Corp (TSXV: META) d/b/a Meta Growth said that it has reached a new agreement to extend its $9,000,000 loan from Opaskwayak Cree Nation to December 31, 2022. The original loan was set to mature on December 14, 2019.  As one of META’s largest shareholders, owning approximately 10.8 million shares, OCN has agreed to extend the maturity of the Loan until December 31, 2022, at an interest rate of 10% per annum, and an annual administration fee of $225,000.

Trulieve Delivers Another Solid Quarter of Earnings

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) released its financial results for the third quarter of 2019 ending September 30, 2019, with revenue of $70.7 million, an increase of 22% sequentially and an increase of 150% year-over-year. This beat analyst estimates by $5.09M. The company also delivered a net income of $60.3 million for the quarter, which was higher than the second quarter’s net income of $57.5 million.

Executive Spotlight: Diana Anglin

Diana Anglin is the chief operating officer of CannAmerica Brands Corp. She has been there for a year and a half. CanAmerica Brands Corp’s mission “to maximize the value of our brands by promoting, marketing and licensing the brands through various distribution channels, including to dispensaries, wholesalers and distributors in the United States and internationally.” CannaBrands owns a portfolio of brands within the cannabis space.

In Other News

Aurora Cannabis Suffering

Aurora reported fiscal 2020 Q1 results that showed a 24% drop in revenue and a 30% drop in volumes. The company also suspended construction at two of its largest greenhouses, Nordic 2 and Aurora Sun. Aurora Cannabis lowered its conversion price 2020 converts to avoid principal repayment and preserve cash. The general outlook for the quarter is seen as negative and investors may start to question its viability.

 

Cannabis Stocks Targeting the Infused Beverages Market

 

Canada was initially denied the right to enjoy cannabis-infused treats, but now things are turning around. The national market will now see a wave in cannabis-infused edibles, specifically in beverages. Some of the biggest names in the beverage industry have shown interest or a solid plan to jump into the market including Coca-Cola and Arizona Beverage Company. Most of the major brewers like AB InBev, Molson Coolers, and Constellation Brands have partnered with cannabis producers to make plans for cannabis-infused beers. The global cannabis beverage market is projected to be worth US$5.04 billion by 2026.

 

Big Day for Cronos Group After Altria Filing

 

Altria (NYSE:MO) added more than 4M shares to its Cronos (NASDAQ:CRON) stake, according to a filing.

 

 


Kaitlin DomangueKaitlin DomangueOctober 31, 2019
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8min4950

It’s time for your Daily Hit of cannabis financial news for October 30th, 2019.

On the Site

Bernie Sanders Has A Plan For Cannabis

Bernie Sanders has released his cannabis legalization plan if he wins the presidential election in 2020. The senator has always been outspoken on his pro-cannabis views. His main points are to legalize marijuana in the first 100 days with executive action, vacate and expunge all past marijuana-related convictions, ensure that revenue from legal marijuana is reinvested in communities hit hardest by the War on Drugs, ensure legalized marijuana does not turn into big tobacco.

Liberty Health Sciences Turns In Solid Second Quarter Earnings

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) reported net sales of $10,627,656 for the second quarter ending August 31, 2019, versus $2,219,290 for the quarter for the same time period in 2018. Liberty Health delivered net income for the quarter of $22,884,261, turning the corner over last year’s net loss of $5,605,355 and besting many cannabis companies that only seem to deliver net losses.

 

OTC, CSE Investors Looking For Green Swan

 

The OTC Markets Group and the Canadian Securities Exchange held an Investor Day in New York City on October 30. Richard Carleton, CEO of the Canadian Securities Exchange and Jason Paltrowitz, Executive Vice President of Corporate Services at the OTC Markets Group fielded questions from investors about the sector’s bear market and what they thought could turn things around. Of course, these executives can’t convince investors to start writing buy tickets and it doesn’t seem as if a “Green Swan” moment will occur in the near term to swing stocks back to the past meteoric rises.

 

The event featured presentations from Trulieve Cannabis Corporation (OTCQX: TCNNF; CSE: TRUL), Flower One Holdings Inc. (OTCQX: FLOOF; CSE: FONE), Ayr Strategies Inc. (OTCQX: AYRSF; CSE: AYR.A), TerrAscend Corp. (OTCQX: TRSSF; CSE: TER), Planet 13 Holdings Inc. (OTCQX: PLNHF; CSE: PLTH), Cresco Labs Inc. (OTCQX: CRLBF; CSE: CL) and iAnthus Capital Holdings, Inc. (OTCQX: ITHUF; CSE: IAN).

In Other News

Michigan begins taking applications for first recreational marijuana businesses Friday (source: https://www.mlive.com/news/2019/10/michigan-begins-taking-applications-for-first-recreational-marijuana-businesses-friday.html)

Michigan’s state licensing office, called the Marijuana Regulatory Agency, is set to begin accepting recreational marijuana business applications at 12:01 a.m. on Nov. 1. Hand-delivered applications may be dropped off at the agency beginning at 8 a.m. on Friday. The Marijuana Regulatory Agency expects to issue the first recreational licenses to businesses that are already approved to grow, sell, process, test or transport medical marijuana by late November, agency spokesman David Harns said.

Mexico to miss deadline to legalize marijuana, including recreational use (source: https://mjbizdaily.com/mexico-to-miss-deadline-to-legalize-cannabis-including-recreational-use/)

Citing “unprecedented” pressure from companies trying to influence Mexico’s cannabis legislation, voting on a bill to completely legalize marijuana – including its recreational use – will be delayed, according to media reports. Ricardo Monreal, president of the Senate’s Political Coordination Board (Jucopo) – a governing body of the chamber – told Milenio the bill “won’t be voted on this week, as was planned. “It was the intention to approve it on Tuesday,” he continued, “but that’s not going to happen.” Monreal said the bill will be discussed in “the first weeks of November,” La Jornada reported.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


StaffStaffJune 28, 2019
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2min8850

This week Indiva Advisors LLP, a leading full-service CPA firm that provides high-quality accounting, tax and advisory financial services for cannabis and hemp businesses throughout the West Coast, announced expansion of service capabilities by acquiring Missouri Cannabis CPA, a Saint Joseph, MO-based practice; effective June 24.

“We are beyond excited for this merger,” said Indiva Advisors Managing Partner, Jessica Velazquez. “Expanding into this emerging market and joining forces with Tiffani Higgins opens up incredible opportunities for our firm and our clients. My passion from day one has been to reach businesses of all sizes across the US and this puts us closer to that goal.”

This is a strategic alliance that will drive growth for Indiva Advisors in the developing Midwest marijuana economy.

“I am so excited to partner with Indiva Advisors,” said Tiffani Higgins, CEO of Missouri Cannabis CPA. “We can help new Missouri businesses get started in the cannabis space and provide them with the top-tier support that larger companies already receive.”

Indiva Advisors is the leading CPA firm dedicated to the cannabis and hemp industries, with a team of experts bringing more than 40 years of experience. The company is operated by passionate and devoted CPAs and other financial professionals, all bringing a wide array of skills, specializations and knowledge. Indiva Advisors assists business owners and C-suite executives in achieving their goals by providing guidance on financial, transactional, and general business matters.

Higgins specializes in working with small business owners on tax, accounting, payroll and other financial areas.


AxisWireAxisWireMay 22, 2019
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5min6190

Cannabis Stocks Opened on a High Note First Quarter With 40% Index Growth

New York City – May 22, 2018 /AxisWire/ The Green Market Report (GMR), the cannabis industry’s most trusted source for credible in-depth financial and economic reporting, today released its 2019 Cannabis Company Index Q1 Summary Report. The report can be downloaded at GreenMarketReport.com/Reports.

The GMR Index follows the trading activity of 30 selected public cannabis companies that denote market dominance. The Company Index started 2019 on a high note as the first quarter jumped 40% and essentially recovering from the dismal fourth quarter of 2018. The broader stock market sold off at the end of the year and it took cannabis stocks along for the ride into the red territory. While the Farm Bill passage in December set the stage for stocks in the first quarter, Congress wasn’t through waving a green flag for the cannabis industry. . At the end of March, The House Financial Services Committee voted 45 to 15 to advance the Secure and Fair Enforcement (SAFE) Banking Act.

Despite all the positive news flowing through the cannabis industry, high profile lawsuits also reminded investors that the cannabis industry isn’t as mature as others. International markets are opening up to import and export. And U.S. exchanges are playing with Canadian companies while avoiding American ones.

“2019 is off to a good start for cannabis companies. Many stock valuations have recovered from the late 2018 selloff as the government seemed to soften its approach towards cannabis ,” stated Debra Borchardt, CEO of Green Market Report.

The best performing stock in the GMR Index was Origin House followed by The Green Organic Dutchman, who was the biggest loser last quarter. The biggest loser in the GMR Index was AeroGrow International.

The Index decided to add SLANG Worldwide Inc. and TILT Holdings Inc. While the Index was sad to let AeroGrow go, although it is the smallest of the publicly traded companies, as well as MedMen amid all of their legal woes.

“SLANG Worldwide has so many positives going for it. This was an easy name to add to the Index,” added Borchardt. “TILT Holdings though surprised the market with a large write down shortly after being added to the Index. We’ll monitor the stock closely.  .”

About Green Market Report:

The Green Market Report (GMR) is headquartered in New York City with an office in Los Angeles. GMR is poised to be the center for trustworthy business, financial and economic news and intelligence. The site offers coverage on financial matters including news briefs on business, cultivation, and extraction, cannabis company stock prices, and wholesale cannabis pricing. For more information, please visit www.greenmarketreport.com or email info@greenmarketreport.com. Follow us on Facebook, Instagram and Twitter @GreenMarketRpt.

Communications Contact:

Cynthia Salarizadeh

Green Market Report

856-425-6160

cynthia@salarmediagroup.com

 


AxisWireAxisWireMay 21, 2019
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14min2840

SMITHS FALLS, ON, May 21, 2019 /AxisWire/ Canopy Growth Corporation (“Canopy Growth” or the “Company”) (WEED.TO) (CGC) is pleased to announce the appointment of Mike Lee to its executive leadership team in the acting role of Chief Financial Officer (CFO), effective June 1, 2019. Mike’s permanent role as CFO will commence upon receiving Health Canada security clearance required for all Officers and Directors of the Company.

Mike brings a wealth of experience from the consumer goods & beverages industry, having worked for companies such as E. & J. Gallo Winery, PepsiCo, and recently Constellation Brands, where he served as Senior Vice President & CFO for their US$3BWine & Spirits Division. He worked closely with Constellation Brands’ executive leadership to transform their premium Wine & Spirits business, applying financial rigor along the way with a true sense of urgency that translated strategy into action.  Mike also led the business transformation agenda at Constellation Brands, focused on digital enablement and operating model design. Most recently, Mike has served in the role of Executive Vice President, Finance at Canopy Growth Corporation.

Mike’s experience across these mature, category-leading CPG companies along with his experience in business transformation will be an asset as Canopy Growth continues to scale at an exponential rate. Taking advantage of his established strengths in developing high-performance teams, delivering financial results, and his ability to translate strategy into execution will help the Company’s leadership chart a course for the future.

Tim Saunders, whose invaluable contributions to the Company’s direction, finance leadership, and culture will continue to serve the executive team and Board of Directors of Canopy Growth as a strategic advisor in areas of mergers and acquisitions, corporate financing, and business transformation.

“When I welcomed Tim four years ago, Canopy Growth had a market cap of $93 million, two partially licensed production sites in Ontario and a single acquisition under our belt. After more than 26 acquisitions, 8 financings worth over $6.2 billion, the sector’s first TSX and NYSE listings, and reaching a market cap of $21 billion, Tim exemplifies what it means to be a leader at Canopy Growth,” said Bruce Linton, Chairman and Co-CEO, Canopy Growth. “As Tim transitions roles, I am also pleased to elevate Mike into the acting CFO role. His philosophy, accomplishments and all-around track record give me confidence that the Company’s financial health and governance are in good hands. I look forward to working more closely with Mike, benefitting from his vision and expertise as the Company continues growing, both at home and abroad.”

The Board of Directors, co-CEOs Bruce Linton and Mark Zekulin, along with the whole Canopy Growth family, thank Tim Saunders for his dedication and leadership. Having championed the financial health of the Company through an aggressive phase of M&A growth, multiple financing rounds, and historic listings on the TSX and NYSE, both firsts for cannabis companies, Tim’s impact on Canopy Growth is permanent and sincerely appreciated.

Here’s to Future Growth (now with Mike!).

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through the Company’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. The Company has operations in over a dozen countries across five continents.

The Company’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

The Company operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten licensed cannabis production sites with over 4.4 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to changes to the leadership team. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company’s ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company’s annual information form dated June 27, 2018 and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.


AxisWireAxisWireMay 21, 2019
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6min4530

SAN FRANCISCO–May 21, 2019 /AxisWire/ Today, three-time GRAMMY® winner and Grateful Dead drummer Mickey Hart announces the launch of Mind Your Head ™, an innovative cannabis brand produced in California in partnership with Left Coast Ventures™. Mind Your Head is inspired by the groundbreaking culture of creativity and community that Hart helped create and continues to foster through his art and his band, Dead & Company, which launches their summer tour on May 31 st at Shoreline.

The Mind Your Head brand’s first product offering is Magic Minis, pre-rolled whole-flower joints packaged in a tin adorned with Hart’s celebrated artwork. These collectible tins are available in select Bay Area dispensaries:

  • Urban Pharm (San Francisco)
  • Sparc (San Francisco)
  • Berkeley Patients Group (Berkeley)
  • Hi-Fidelity (Berkeley)
  • Airfield Supply Co. (San Jose)
  • Mercy Wellness (Cotati)

With the Mind Your Head cannabis brand, Hart is seeking to share an essential part of the inspiration behind his work as a musician and artist that created a cultural phenomenon with The Grateful Dead.

“Cannabis is about opening the mind by inspiring intellectual curiosity and breaking free from ordinary thinking,” Hart said. “Throughout my life, cannabis has played an important role in inspiring creativity and I hope that Mind Your Head cannabis activates others to find their own dimension of creativity. It’s about transporting your mind, connecting with the rhythm of your body and getting into the zone.”

Mind Your Head Magic Minis feature Chemdog, a legendary strain discovered outside a Grateful Dead show on Shakedown Street in 1991 by a loyal fan now known as ‘Chemdog.’ The namesake strain of cannabis is renowned for boosting artistry and mindfulness. True to Hart’s vision, the Chemdog strains produced for Magic Minis were mindfully grown, pursuing kindness and care in cultivation practices.

“As a loyal Deadhead, I’m proud to see Chemdog featured in the first product from Mickey Hart,” said Chemdog. “It plays an important role in Grateful Dead history and I think it’s exciting that Mickey is bringing it full circle to fans and cannabis enthusiasts in Mind Your Head.”

Left Coast Ventures is a diversified cannabis and hemp company working to shape the future of the legal cannabis industry in the United States — starting with California, the world’s largest legal cannabis market. Left Coast’s portfolio of brands has grown through acquisition, investment and incubation, covering the spectrum from cultivation to distribution and retail.

“We are proud to introduce California enthusiasts to a premium cannabis brand rooted in a global movement that spans generations,” said Left Coast Ventures CEO Brett Cummings. “It’s a true honor to work with a legendary musician and activist who has inspired millions of individuals and shares our values and passion to legitimize the future of cannabis.”

About Mind Your Head

Mind Your Head is a cannabis brand from legendary Grateful Dead drummer and visual artist, Mickey Hart. The brand is founded on the belief that cannabis grown with care can transport minds by inspiring creativity and mindfulness. Mind Your Head operates using sustainable, just and innovative practices. It is currently available in select Bay Area dispensaries, with plans to expand distribution in 2019. Learn more at mindyourheadcannabis.com.

About Left Coast Ventures

Headquartered in Santa Rosa, CA, Left Coast Ventures is a diversified cannabis and hemp company specializing in cultivation, manufacturing, brand development and distribution. Left Coast Ventures and its subsidiaries are working to shape the future of the legal cannabis industry in the United States through acquisitions, investments, and incubation while building a respected portfolio of top shelf brands. Wholly owned, licensed, and distributed brands in Left Coast Venture’s portfolio include: Marley Natural™, Mind Your Head™, Headlight™, Dutchy, and JEF™.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190521005355/en/

CONTACT: Ann Peltz, Media Relations

press@leftcoastventures.us


StaffStaffMay 20, 2019
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7min8040
Guest submission By David Lechner and Charles S. Alovisetti

Legal cannabis sector fundamentals have strengthened in recent months thanks to new markets coming online and rising sales in existing markets. As a result, there has been a wealth of M&A activity lately, as existing operators increase their pace of acquisitions and new investors flock to the industry, buoyed by these investment opportunities. This has led to smaller operators selling their businesses to the larger players who are looking to consolidate or enter the market or both. This can be a smart move if properly executed, but there are also plenty of ways in which it can go awry.

Here are five crucial tips for operators thinking about selling their businesses in the coming years. This is the first part of a two-part series. In part two, we will provide five additional tips focused on the regulatory issues cannabis companies need to understand.

1. Be on the ‘up and up’. Because of some of the negative perceptions related to the legal cannabis sector, it is of utmost importance that you have been operating your business according to state law. Skeletons in the closet will come back to haunt you, leading to buyers completely walking away or at the very least, a big discount on valuation. If you’re out of compliance, get back into compliance before going on the market.

2. Cheap advisors are costly. Good bankers, lawyers, and accountants are worth it. These are the players you’re putting on the field, and you are only as strong as the weakest link. Do you need the most expensive player at every position? No, but if you hire a lesser-known accounting firm for your audit, for example, it could reduce the buyer’s perceived value of your business.

3. Get your house in order before engaging. Often small companies aren’t ready to go through a full transaction lifecycle when they engage with potential buyers. They may have gotten an inbound offer out of the blue that they want to move forward on. But they stumble when it comes time to proceed into diligence and detailed discussions. The first order of business should be to get audited financials from a real accounting firm. Ideally three years, minimum two. This is particularly important if you want to be acquired by a public company (as many licensed businesses in Colorado are currently contemplating). If a public company makes an acquisition that is considered significant according to the Securities Exchange Commission, then the acquiring company needs to file target and pro forma financial statements within 75 days of closing – this will prove an issue if the target (i.e., you) doesn’t have audited financials in place.

4. Time kills deals. You want to minimize your time in the market and in the diligence phase. Get your house in order and set up a data room that contains all the documents that buyers will want to review (IP, technology, financials, etc.). Have someone with M&A experience (e.g. a current or former investment banker), run you through diligence – it’s better if you know where your skeletons are buried now before buyers discover them. If you need to halt a process for three months waiting for a key item to be resolved, or to find some important document, buyers will lose interest. And then there are exogenous events that can spook the markets (e.g., trade wars), the longer your process hangs out there, the greater the risk it goes sideways and falls apart.

5. Be realistic with valuation. Simply because Company X sold for a certain multiple, it doesn’t mean that yours is worth the same. Valuation is driven by fundamentals – size (revenue), diversification (different geographies, diverse set of customers and product lines), and financial performance (historical performance, ‘cleanliness’ of financials, profitability, future growth). A company with $1b of revenue will have a higher multiple (e.g. price to sales) than one with just $50m of revenue. Similarly, a public company’s multiple will be higher than that for a private company due to these factors and as a private operator, you’ll need to temper your expectations.

David Lechner is a Chief Financial Officer with $25 billion of M&A and capital markets work. He consults with clients on due diligence, acquisitions, integrations, financial reporting, and operational improvements. Originally from Toronto, he now resides in Denver with his family.

Charles Alovisetti is a partner and chair of the corporate practice group at Vicente Sederberg LLP, a national law firm focused exclusively on the cannabis industry. He assists licensed and ancillary cannabis businesses with corporate legal matters, and he has experience working with clients on a broad range of transactions.


AxisWireAxisWireMay 14, 2019
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5min4730

Top MMJ Influencers sign Affiliate Education Agreements with Navigator Genomics™ Testing

New Orleans, Louisiana – May 7, 2019 /AxisWire/ Navigator Genomics™ (NGT) has signed 3 new Affiliate Agreements to collaborate with Dr. Michele Ross CEO of Infused Health, Dr. Lakisha Jenkins (Jamaica), and Donna Shields, MS, RDN to provide NGT’s educational content services for their clients.

Navigator Affiliates receive news articles, links to NGT’s fully vetted cannabis glossaries, videos, webinars, science whitepapers, & chronic medical condition information focused on the very same conditions consumers must have to qualify for medical cannabis…. all content is at No Cost to affiliates.

Dr. Michele Ross – CEO of Infused Health

Dr. Michele Ross is a neuroscientist who first published on the endocannabinoid system in 2006 and  went from academia to cannabis health coaching after cannabis helped her recover from several chronic health issues including fibromyalgia. Infused Health is an online cannabis coaching network supporting clients who need more information about cannabis treatment than their doctors or budtenders can provide. She focuses on helping women & adult patients with chronic pain, anxiety, and depression live healthier & happier lives by using the right cannabis products.

Dr. Ross states “Navigator Genomics is the perfect tool for determining whether or not it is safe for a patient to take cannabis products containing THC or CBD with their current medications. Most of our Infused Health clients are on more than one medication, and this genetic test helps prevent dangerous drug-drug interactions.” https://infusedhealth.com/about-us

Dr Lakisha Jenkins-(Jamaica)Dr. Jenkins is a Cannabis Practitioner, Naturopath, Registered Master Herbalist and teacher of the endogenous cannabinoid system.

Dr. Jenkins involvement in medical cannabis began in 2006. She was a Founding Board Member & first elected President of the California Cannabis Industry Association in 2012 , the National Cannabis Industry Association Board (2013-2015) & the founding Chair of their Minority Business Council. Dr Jenkins works to ensure all people have the right to choose their best treatment options. https://www.drlakisha.com

Donna Shields, MS, RDN is co-founder of the Holistic Cannabis Academy, an online education training program using an integrative medicine approach. Her diverse career spans the US Army Medical Corp, global health communications for The Coca-Cola Company & faculty at the Culinary Institute of America. Based in Colorado and Florida, she’s been a contributor to The Cannabis Kitchen Cookbook and consults  for the cannabis and hemp industries. https://donnashields.net

Navigator Genomics™

NGT is the first pharmacogenomics company to measure & report your personal genetic responses to key cannabinoids utilized in Medical Cannabis (MMJ), simultaneously with416 of the most popularly prescribed prescription medications (Rx) taken by the most amount of people. Results include important potential drug-drug interactions which can reduce or cancel efficacy of MMJ or Rx’s, create unwanted side-effects or even adverse reactions. Consumers can avoid costs & time of traditional “trial and error” dosing. Results help personalize which cannabinoids & medications can work best for each person. NGT’s lab is CLIA & CAP accredited to ensure highest quality standards. All information is private and HIPAA compliant. Tests are $299 sold direct-to-consumer on line at: https://navigatorgenomics.com.

*Navigator is actively seeking affiliates to collaborate with medical cannabis digital publications, educators, cannabis doctor organizations, researchers, MMJ science studies, product manufacturers, dispensaries, and analytic data firms. Navigator provides free educational content, videos, webinars, news articles, etc. to affiliates who desire to educate their constituents.

Media Contact:

Ivan Echegarrua
info@navigatorgenomics.com
Toll Free: (877) 892-2324

Navigator Genomics™
314 Southern Rd.
River Ridge, Louisiana 70123



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