CannTrust Holdings Inc. Archives - Green Market Report

StaffOctober 20, 2022
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4min49240

The Daily Hit is a recap of cannabis business news for Oct. 20, 2022.

ON THE SITE

High Times Owes ExWorks $28.8 Million

High Times Holding Corp. filed an update with the Securities & Exchange Commission on Oct. 19 that it is in default on its loan to ExWorks for $28.8 million. In 2017, High Times Holding Corp. took out a loan to acquire Trans-High Corporation (THC), which was the original corporate name for the magazine. The filing stated, “All of our obligations to ExWorks are currently in default.” Read more here.

The Flowr Corp. Seeks Creditor Protection from Canadian Court

Toronto-based The Flowr Corp., (TSX.V: FLWR) (OTC: FLWPF), announced Thursday that the company and its subsidiaries plan to seek an order for creditor protection from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (CCAA). Such a filing is similar to a company in the U.S. seeking Chapter 11 bankruptcy protection. Read more here.

SPAC Announces Plan to Acquire New Mexico Cannabis Company

BGP Acquisition Corp. (NEO: BGP.U) (OTCQX: BGPPF) (OTCQX: BGPAF), a special purpose acquisition company based in British Columbia, has agreed to acquire Craft 1861 Global Inc. The deal is expected to close in the fourth quarter. Read more here.

Leaked Document Hints at Adult-Use Cannabis Legalization in Germany

Germany might be moving closer to legalized adult-use cannabis, according to a leaked report that lays out a proposed framework for such an industry. The document, obtained by RedaktionsNetwerk Deutschland (RND), reportedly includes recommendations from Germany’s Health Minister Karl Lauterbach on how such an industry should be structured. Read more here.

CENTR Brands Corp.

CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF), a producer of functional wellness and CBD beverages, entered into a Settlement Agreement with Joseph E. Meehan, the former chief executive officer of the Company, and Redcliffe Gardens Capital Limited, a consulting corporation controlled by Meehan. Meehan resigned his role as chairman of the board, effective immediately, as part of the agreement. Read more here.

CannTrust Holdings Inc.

CannTrust Holdings Inc., a minority investor in Phoena Holdings Inc. (formerly CannTrust Equity Inc.), made a Division I Proposal pursuant to the Bankruptcy and Insolvency Act (Canada). Subject to satisfying certain conditions, CannTrust intends to address its remaining liabilities, dispose of its residual assets, distribute its shares in Phoena, and dissolve in advance of Nov. 30, 2022, or as soon as practicable after that date. Read more here.


William SumnerMarch 28, 2019
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4min910

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.


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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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