Canopy Rivers Archives - Page 2 of 3 - Green Market Report

William SumnerAugust 27, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

6min16950

It’s time for your Daily Hit of cannabis financial news for August 27, 2019.

On the Site

iAnthus

iAnthus Capital Holdings, Inc. (CSE: IAN)(OTCQX: ITHUF) delivered solid financial results for the fiscal second-quarter ending June 30, 2019 with revenues increasing 100% sequentially to $19.2 million from $9.6 million in the first quarter and easily whipping last year’s $256,000 for the same time period. The  company’s second-quarter net loss of $9.3 million was a considerable improvement over the adjusted net loss of $16.5 million in the first quarter and much better than last year’s net loss of $35.4 million for the same time period.

Canopy Rivers

Cannabis investing company Canopy Rivers Inc.  (TSXV: RIV), (OTC: CNPOF) reported its unaudited financial results for the first quarter ending June 30, 2019, with an operating income of $2.7 million. However, expenses in the quarter totaled $5.8 million leading to a net loss of $2.9 million. The company also said it expects to recognize its share of net losses during the remainder of the fiscal year.

More Consumers are Drinking their Cannabis and Big Brands are Getting in On It

Both the cannabis and beverage industries saw dollar signs when Constellation Brands added a $4 billion investment to its already ample investment into Canopy Growth… Headset recently came out with an extensive report examining the rapidly developing cannabis-infused beverages industry, stating that although beverages don’t make up the majority of cannabis product sales, they are “a category within cannabis that’s worth watching.”

In Other News

TerrAscend

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) announced the early exercise of purchase warrants to acquire proportionate voting shares representing 28,636,361 common shares, for gross proceeds of approximately C$31.5 million. The outstanding warrants were held by funds advised by JW Asset Management, LLC which are affiliates of TerrAscend Chairman, Jason Wild.  “The early exercise provides TerrAscend with capital in a timely and efficient manner”, said TerrAscend CEO, Michael Nashat. “We value our relationship with JW Asset Management, LLC and appreciate their continued support of our strategy to develop and acquire premium brands, while continuing to build a global footprint.”

Hounds Labs

Hound Labs Inc., a technology company that has developed a dual-purpose breathalyzer for cannabis and alcohol, announced that it had raised $30 million in Series D financing. The funds will go towards accelerating the manufacturing of the company’s cannabis/alcohol breathalyzer for commercial use. Leading the round was Intrinsic Capital Partners. “With the publication of clinical study results validating breath as the new frontier for testing recent use of THC, investors can see the tremendous value that Hound Labs will bring to the market with its first-of-its-kind technology,” said Dr. Mike Lynn, CEO and co-founder of Hound Labs. “We are excited to usher in a new era of more meaningful and fair drug testing now that marijuana is both medically and recreationally available to so many people.”

MedPharm Research

MedPharm Research announced that it had received a notification from the DEA that is had been chosen to move forward as one of the first applicants to be granted a license to grow federally legal cannabis under the terms of a new policy statement issued in the Federal Register. This is something we have been waiting for since we first sent in our application in September, 2016, as one of the first medical grow facilities to apply for a license,” Albert Gutierrez, CEO of MedPharm. “It is a real game-changer for the whole medical cannabis industry.”


Debra BorchardtAugust 27, 2019
moneystock.jpg?fit=960%2C637&ssl=1

5min21900

Cannabis investing company Canopy Rivers Inc.  (TSXV: RIV), (OTC: CNPOF) reported its unaudited financial results for the first quarter ending June 30, 2019, with an operating income of $2.7 million. However, expenses in the quarter totaled $5.8 million leading to a net loss of $2.9 million. The company also said it expects to recognize its share of net losses during the remainder of the fiscal year.

$3.7 million or approximately 64% of the total expenses for the quarter were due to share-based compensation. The company said that “A significant portion of this non-cash expense relates to options granted to non-employees, which occurred at an early stage in the company’s growth and requires remeasurement each period. Other operating expenses, which include consulting and professional fees and other general and administrative expenses, were $2.0 million, representing an increase from last year due to the build-out of the company’s management team and employee base and enhanced public company compliance and regulatory costs.”

The income was mostly derived from royalty, interest, and lease income generated from the following: royalty and debenture agreements with Agripharm, Greenhouse Juice, JWC, and Radicle; a lease agreement with Spot Therapeutics Inc.; and a shareholder loan agreement with PharmHouse; as well as a $1.5 million net increase in the fair value of certain financial assets that are reported at fair value through profit or loss. Canopy Rivers also noted that the income was partially offset by its $1.0 million share of loss from its equity method investees, which includes its common stock shares in Canapar Corp., Radicle, and PharmHouse.

“In Q1 2020, we made several exciting investments in plant sciences and cannabis brands, two areas that we think are primed for real growth in the cannabis sector,” said Narbe Alexandrian, President and Chief Executive Officer of Canopy Rivers. “In addition to our new investments, as lifecycle investors, it was also rewarding to see so much positive news coming from our portfolio companies this quarter. From PharmHouse entering into a significant supply agreement with Canopy Growth to TerrAscend becoming, to our knowledge, the first and, so far, only cannabis company with sales in Canada, the U.S., and the European Union, our portfolio companies were busy creating significant value.”

After The Quarter Close

Canopy Rivers said that it has received conditional approval to graduate to the Toronto Stock Exchange. TerrAscend received an amendment to its license from Health Canada allowing for the sale of cannabis oils, which it will do through its online medical sales platform, Solace Health. TerrAscend also announced the signing of a definitive agreement to acquire Ilera Healthcare, a vertically-integrated cannabis cultivator, processor, and dispensary operator in Pennsylvania, and commenced sales to Europe through its German distribution partner, becoming the first and only cannabis company with sales in Canada, the U.S., and the European Union.

“We continue to maintain financial focus and discipline while looking to seize on exciting opportunities during a period of operational ramp-up in our portfolio and the cannabis sector more broadly,” said Eddie Lucarelli, Chief Financial Officer of Canopy Rivers. “While some of our financial results are linked to the public markets and therefore subject to volatility, we believe that several factors – including significant business catalysts within our portfolio, operational improvements that translate into increased production at our royalty investees, and an operating expense base that is low by cannabis sector standards – position us well to create value for our shareholders in the long term.”

Canopy Rivers stock was lately trading at $1.79, near the bottom of its 52-week range of $1.70 to $7.30.


William SumnerJuly 16, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

4min17120

It’s time for your Daily Hit of cannabis financial news for July 16, 2019.

On the Site

TILT

Multi-faceted cannabis company TILT Holdings Inc.  (CSE: TILT) (OTCQB: SVVTF) said that it has signed a binding term sheet for a private placement of $125 million from a syndicate of institutional investors led by UCP, a Toronto-based investment firm specializing in cannabis and alternative assets. The company said that the money will be in the form of convertible senior secured notes that will provide aggregate gross proceeds of $50 million and could go up to $125 million. The deal is expected to close in August.

Jane Technologies

With one of the largest cannabis technology fundraises completed to date,  Jane Technologies, Inc., a retail software company that created the first and largest online cannabis marketplace, has announced it has secured $21 million in Series B funding. The I “Heart” Jane team is the company behind the first cannabis e-commerce marketplace expands to keep up with global demand for retail cannabis products sold online. This latest round of funding, led by new and returning investors, will allow Jane to expand its online marketplace to international vendors, bolster its data analytics platform, and deliver data to other industries.

In Other News

The Arcview Group

The cannabis industry investor network, The Arcview Group, announced that it has closed a $7.7 million Series A financing round. Leading the fundraise was Trivergance Investments in partnership with Cresco Capital Partners. In connection with the financing,  Washburn Ampology co-CEOs, Jerry Stone and Jonathan, and Codie Sanchez, Cresco Capital Managing Director, will join Arcview’s board. “We have been a proud partner of Arcview from many years, as several of our portfolio companies have successfully raised capital through their platforms,” said Sanchez. “We see a real need for the new asset management offerings in development at Arcview to fuel great ideas and passionate entrepreneurs. We are thrilled to help continue to ensure cannabis startups receive the funding they need to flourish.”

Canopy Rivers

Today Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF) reported the fourth quarter and year-end financial results for the 2019 fiscal year. Operating income was C$6.08 million, down from C$19.5 million in the same period of the previous year. However, year-over-year operating losses declined from C$17.15 million in Q4 2018 to C$1.43 million in Q4 2019. Operating income for the year fell from C$50.21 million in 2018 to C$38.47 million in 2019. The company experienced a total comprehensive loss of $30.35 million for the year. “This past fiscal year represented a period of significant capacity build-out and operational investment at our portfolio companies. We are excited to see our partners complete their build-out activities over the next few quarters, allowing their underlying businesses to scale and accelerate their individual paths towards the generation of meaningful EBITDA across the Company’s ecosystem,” commented Canopy Rivers CFO, Eddie Lucarelli.


William SumnerJune 19, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

5min15170

It’s time for your Daily Hit of cannabis financial news for June 19, 2019.

On the Site

Charlotte’s Web Holdings

Charlotte’s Web Holdings, Inc.  (TSX:CWEB)(OTCQX:CWBHF) reported its final hemp planting for its 2019 growing season. The company said that in order to meet growing demand the total acres planted for 2019 has been increased to 862, an 187% increase from 300 acres planted in 2018.

CannTrust Holdings

CannTrust Holdings Inc. (NYSE: CTST) shares popped over 5% in early trading on news that the company had formed a joint venture with California hemp grower Elk Grove Farming Company. CannTrust is a Canadian cannabis company founded by pharmacists and this would be the company’s entry into the United States. The company said it expects to invest roughly $20 million in the operation by the end of 2020. The shares were lately trading at $5.22.

Executive Spotlight: Kraig Fox, President & CEO of High Times Holdings

A veteran media and entertainment executive, Kraig Fox oversees High Time’s day-to-day operations, which now include Dope Magazine, Culture Magazine, Green Rush Daily, and a number of events, including the Cannabis Cup Festivals.

Not Even Close To OK !!! California, Cannabis & IBI (Inherent Bureaucratic Ineptitude)

The Times article describes yet another band-aid the Legislature is slapping on California’s maladroit roll-out of cannabis regulation. This particular band-aid is an emergency extension of time through a budget Trailer Bill. The Bill, which is opposed by environmental groups, extends provisional licensing.

In Other News

Canopy Rivers

Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF) announced that has made a $10 million investment and has entered into a strategic collaboration with ZeaKal Inc. ZeaKal is a California-based company with with proprietary technologies that reportedly increase photosynthesis, improve plant yield and enhance nutritional profiles for a variety of crops. “Our investment in ZeaKal, the fifth consecutive international transaction for Canopy Rivers, builds on our thesis of selecting globally scalable and innovative processes, products, and technologies from complementary industries, and applying them to the cannabis and hemp economy,” said Mary Dimou, Director of Business Development at Canopy Rivers.

Green Flower Media

Green Flower Media today announced that it has closed a $20 million Series A financing round. The financing round was led by Tuatara Capital and additional funding came from Poseidon Asset Management and Phyto Partners. The proceeds from the round will go towards developing new certificate programs, creating new content for its subscription service, expanding the company’s team, and forming strategic partnerships.

Innovative Industrial Properties

Innovative Industrial Properties, Inc. announced that it entered into an amendment of the lease with Green Peak Industries, LLC, largest vertically integrated medical-use cannabis license holder in Michigan. The amendment will make available an additional $18 million for Green Peak to expand its cultivation and processing facilities at 10070 Harvest Park in Dimondale, Michigan. “We are thrilled to expand our real estate partnership with one of the premier medical-use cannabis operators in the state of Michigan, another example of our position as a long-term real estate capital partner that our tenant operators can count on,” said Paul Smithers, President and CEO of IIP.


StaffMarch 19, 2019
shutterstock_257482471.jpg?fit=960%2C640&ssl=1

4min19860

Canopy Rivers Inc. (TSXV: RIV) is teaming up with LeafLink, Inc. to create LeafLink Services International ULC. The new venture will exclusively license and leverage LeafLink’s dominant business-to-business (B2B) marketplace and supply chain technology platform for deployment throughout regulated international cannabis markets.

In order to get the venture off the ground, LeafLink has made an initial capital commitment of $1 million along with an exclusive, royalty-free license for all non-US marketplaces for their proprietary B2B software platforms and service solutions. In addition to that, Canopy Rivers has committed an initial equity investment of $2 million. Canopy Rivers also has an option to invest an additional $6 million.

For the uninitiated, LeafLink is a software-as-a-service (SaaS) marketplace that simplifies the supply chain through its e-commerce platform. The company has a growing network of more than 950 cannabis brands, and penetration throughout ~2,800 cannabis retailers across 16 territories in the United States.

Retailers use LeafLink for managing their wholesale inventory, enabling them to shop multiple vendors in one cart, view up-to-date product and brand menus, review historical and open orders, discover new products, and request samples. LeafLink further serves vendors by offering supplementary tools such as order management, customer relationship management (CRM) platform, inventory tracking tools, and customized reporting systems, among other services.

“We have been very impressed with LeafLink’s deep market penetration and their understanding of cannabis companies’ needs and behaviors,” said Narbé Alexandrian, President of Canopy Rivers. “The number of brands and products within our new cannabis economy has been explosive, making it difficult for retailers to deal with multiple parties in an increasingly fragmented market. As regulated cannabis consumption and distribution proliferates around the world, LeafLink International will introduce the industry’s leading SaaS-enabled marketplace to the global stage to create a new standard for expediting the cannabis supply chain in regulated markets.”

By creating this new joint venture, Canopy Rivers will continue to expand its exposure across the cannabis value chain through a capital-light, market-leading B2B platform that is immediately scalable across legal jurisdictions. Canopy Rivers said it intends to integrate its network of complementary cannabis companies and global reach to drive growth for LeafLink International and assist in developing and deploying this technology as it continues to increase its global footprint.

“We are excited to join forces with Canopy Rivers – combining our industry-leading, B2B marketplace technology with their expertise and strategic network in the global cannabis market,” said Ryan G. Smith, CEO, and Co-founder of LeafLink. According to the company statement, LeafLink and Canopy Rivers hold approximately 82% and 18%, respectively, of LeafLink International after the initial transaction. LeafLink is backed by venture capital firms and strategic investors such as Lerer Hippeau, Nosara and Casa Verde Capital, LeafLink has raised more than $14 million to date.


Debra BorchardtFebruary 27, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

4min14320

It’s time for your Daily Hit of cannabis financial news for February 27, 2019.

On The Site

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) signed a definitive deal to buy California-based Eureka Investment Partners, LLC. Eureka operates a cultivation facility in the Salinas Valley and is developing three dispensaries across the state. The deal is valued at $30.5 million, of which $10 million is to be paid in cash, $20.5 million in Curaleaf stock, with a potential added bonus to be paid if certain goals are met. The deal is expected to close in March 2019.

Choom

Canadian-based Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) also announced an acquisition on Wednesday. The company said that it had entered into a deal to buy Clarity Cannabis MD Holdings. The agreement includes 30 retail locations, three of which are licensed with the Alberta Gaming, Liquor & Cannabis Commission (AGLC). Choom will issue 8,867,000 Choom Shares and pay $2.5 million to the principal in connection with the acquisition.

MedMen

MedMen Enterprises Inc.  (CSE: MMEN) (OTCQX: MMNFF) reported its second quarter of fiscal 2019 with revenue of $29.9 million. This represents a 39.1% quarter-over-quarter increase over the first quarter of fiscal 2019 ending September 30, 2018.

California is the main driver of sales. MedMen’s eight retail locations primarily in Southern California reported a combined $23.7 million in revenue. Unfortunately, the company is continuing to post losses. MedMen delivered a total net loss of $64.6 million compared to a net loss of $66.5 million for the first quarter. So, the losses have been trimmed somewhat. The net loss per share in the second quarter was $0.25 versus a net loss of $0.27 for the first quarter.

In Other News

Canopy Rivers reported its third quarter results for the quarter ending December 31, 2018 with net income of C$1.4 million and a total loss of C$79 million. The diluted earnings per share was C$0.01. “With more than $55 million of capital deployed during the quarter, Canopy Rivers continues to position itself as a preeminent investment firm in the cannabis industry,” said Eddie Lucarelli, Chief Financial Officer of Canopy Rivers. In addition the company reported that it has closed its previously announced bought deal financing with a syndicate of underwriters. The Bought Deal consisted of an aggregate of 13,225,000 Subordinated Voting Shares, which reflects the exercise in full of the Underwriters’ over-allotment option, at a price of $4.80 per Subordinated Voting Share for gross proceeds of approximately $63.5 million.

Westleaf Inc. (TSX-V: WL) (OTCQB:WSLFF) has been approved to begin trading on the OTCQB effective immediately. Westleaf begins trading tomorrow under the symbol “WSLFF”.


StaffFebruary 4, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

4min13530

It’s time for your Daily Hit of cannabis financial news for February 4, 2019.

On The Site

Namaste Tech

Namaste Technologies Inc.  (NXTTF)  has fired CEO Sean Dollinger and could be reviewing selling the company. The Canadian-based cannabis company said that following an investigation by a Special Committee of the Board of Directors, the Board terminated Dollinger for cause and removed him from his position as Director, effective immediately. The company has appointed Meni Morim as its interim CEO and also appointed Darren Gill as Chief Strategy Officer.

MedMen

MedMen Enterprises Inc. (MMNFF) is facing a new lawsuit from the company’s former Chief Financial Officer James Parker. Parker filed his case on January 29 in the Superior Court of California in the County of Los Angeles claiming wrongful termination for an undetermined amount of damages.

MedMen spokesman Daniel Yi said that the company was unable to respond to the filing because it had not been officially served, but would do so once that happened. “These are baseless claims and we’ll defend ourselves vigorously in court,” said Yi.

LB Equity

LB Equity has raised $50 million for a portfolio titled LB Equity Emerging Growth Fund, which will be concentrating its investments in cannabis companies that are involved in beauty, health, and wellness. The company’s first investment is with the platform Standard Dose, which is dedicated to selling hemp-based CBD products as well as educating consumers on these new products. The company did not announce how much of an investment it made into Standard Dose.

In Other News

Canopy Rivers

Canopy Rivers Inc. (TSXV:RIV) entered into an agreement with CIBC Capital Markets and Eight Capital to purchase, together with a syndicate of underwriters, 11,500,000 subordinated voting shares of the Company on a “bought deal” basis at a price of $4.80 per Subordinated Voting Share for gross proceeds of approximately $55.0 million.

Canopy Rivers completed a subsequent $9.4 million equity investment in its portfolio company Canapar Corp., the Canadian parent corporation of Canapar SrL, an Italy-based organic hemp production and processing platform. The investment aligns with the company’s global-focused growth strategy and is expected to provide the company with the opportunity to capitalize on the rapidly expanding European cannabidiol market.

GrowGeneration

GrowGeneration Corp. (OTCQX: GRWG) has purchased certain assets of BWGS, LLC. The transaction includes purchasing all the inventory of BWGS, as well as all their branded products.

Supreme Cannabis

Navdeep Dhaliwal, CEO and Director, The Supreme Cannabis Company, Inc. (FIRE), joined Michael Kousaie, Vice-President, Strategy and Product Innovation, Toronto Stock Exchange and TSX Venture Exchange, to open the market. The Supreme Cannabis Company, Inc. graduated and began trading on Toronto Stock Exchange on February 4, 2019.


StaffJanuary 22, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

8min14050

It’s time for your Daily Hit of cannabis financial news for January 22, 2019.

On The Site

Tilray, Inc. (TLRY) has entered into an agreement to acquire all of the issued and outstanding securities of cannabis cultivator Natura Naturals Holdings Inc. in a deal valued at $35 million, but could ultimately grow to $70 million.

Under the terms of the agreement, Tilray will deliver C$35 million at closing. This will be made up of C$15 million in cash and C$20 million in Tilray Class 2 common stock. The statement said that if  Natura reaches certain quarterly production milestones over the following twelve-month period, up to C$35 million of Tilray common stock may become payable resulting in a total purchase price of C$70 million if fully achieved.

In Other News

KushCo Holdings, Inc. (OTCQB: KSHB) closed a registered direct offering of 6,476,190 shares of common stock and warrants to purchase 3,238,095 shares of common stock with a combined purchase price of $5.25 per share on January 18, 2019.  The warrants have an exercise price of $5.75 per share, are immediately exercisable and will expire five years from the date of issuance. The gross proceeds of the offering are approximately $34,000,000 before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for general corporate purposes, including, among other things, working capital, product development, acquisitions, capital expenditures, and other business opportunities.

Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HTHHF) is trading on, the OTCQX Best Market. Harvest Health & Recreation (Harvest) upgraded to the higher visibility OTCQX Best Market and is trading under the symbol “HTHHF.”

Village Farms International, Inc. (TSX: VFF) (OTCQX: VFFIF) announced that it has filed an application to list its common shares on NASDAQ Capital Market under the symbol “VFF”. Village Farms’ common shares will continue to be listed on the Toronto Stock Exchange (TSX), also under the symbol “VFF”.

Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQB: FLOOF) announced a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada with California-based, Old Pal, the popular lifestyle cannabis brand that offers the most affordable legal cannabis in the state of California. Flower One is now licensed to produce, manufacture and distribute the entire Old Pal product line to Nevada’s 130 cannabis retailers, marking Old Pal’s first out-of-state expansion and entry into the Nevada market.

Canopy Rivers Inc. (TSXV: RIV) completed an equity investment in 10663522 Canada Inc., or “Herbert”, a unique brand platform that focuses on the adult-use cannabis beverage and edibles market. Canopy Rivers subscribed for C$1,500,000 of preferred shares in Herbert, and received incremental warrants entitling the Company to increase its economic interest in Herbert under certain circumstances, as well as other governance-related rights.

CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) announced that its wholly-owned subsidiary, CRHC Holdings Corp., has completed the sale of 51% of its 10% equity stake in Bodhi Research & Development Inc. to Green Relief Inc. Pursuant to the previously disclosed agreement, Green Relief has purchased from CRHC and other vendors, 51% of all outstanding common stock of Bodhi Research. As consideration for the Share Purchase, Green Relief has paid CRHC $1.74 million in Green Relief common shares.

 


Debra BorchardtJanuary 8, 2019
dispensary2-e1511895650650.jpg?fit=1200%2C1600&ssl=1

4min19080

Cannabis data company Headset secured $12.1 million in funding in a Series A round of financing. The company, launched in 2015 by the trio that co-founded Leafly,  was able to raise the capital from another equally top-notch group of cannabis investors that included Poseidon Asset Management and AFI Capital Partners and Canopy Rivers Inc. (TSXV: RIV).

“Each one of our investors brings invaluable industry knowledge and a strong network of portfolio companies that enable us to collaborate in all new ways,” said Cy Scott, CEO, and Co-founder of Headset. “The new capital will fuel future growth, new market expansion, and enhanced product development, continuing to ensure our leadership position within the cannabis industry.”

Headset said that the money would be used to improve current products and services; expanding the company’s offerings to additional U.S. states and international markets, and support Headset’s partnerships and strategic alliances. It will also help the company serve new customers from the consumer packaged goods, beverage/alcohol, and financial industries, who are taking an increased interest in cannabis.

As a result of the investment, Emily Paxhia of Poseidon and Nico Richardson of AFI will be joining Headset’s board of directors. “As investors, we see the need for data to inform investment and M&A strategies,” said Emily Paxhia, Managing Director of Poseidon. “Headset is already tracking billions of dollars of transactions both in the US and Canada. This successful Series A raise will drive market penetration and depth of technological development.”

Headset is one of the few companies in the cannabis industry that can turn retail sales data into real-time market insights, and helping illuminate emerging trends in this fast rapidly developing industry. For example, producers can quickly learn which specific products are the top-selling ones in a market. The brands can then either brag about their leadership in sales or if they aren’t leaders, take notes from the companies that are.

The data from Headset has shown that in different locations cannabis consumers tend to have different preferences. Mr. Moxie’s Mints may be big sellers in Seattle, while Wana Brands Gummies might be the edible of choice in Colorado.

Narbe Alexandrian, VP Business Development of Canopy Rivers, concurred: “We believe that Headset’s retail intelligence platform will revolutionize the way data is used in the cannabis industry. As the cannabis market matures, data is becoming central to competitive success. It is increasingly important to understand key trends, competition, buying shifts and target demographics in real-time.”

Nico Richardson, Managing Director of AFI, noted that data is key to success in any industry, and praised Headset for delivering the most dynamic and comprehensive analytics to the cannabis industry. “We are excited to invest in a team that has built the industry’s leading data analytics and business insights platform. We look forward to supporting Headset as they expand into new markets with evolving products.”


Debra BorchardtJanuary 7, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

6min14860

It’s time for your daily hit of cannabis financial news for January 7, 2018.

On The Site

Jobs

As of 2018, there are more full-time cannabis workers than there are librarians, and the number is growing. These are not minimum wage positions either – retail managers, agriculture experts, and extraction technicians all earn attractive salaries and desirable compensation packages.

Patents

The number of global cannabis patent applications has doubled since 2008, Cannabis Law Report can reveal, as 2019 promises to be a landmark year for marijuana intellectual property. The World Intellectual Property Organization said approximately 10,246 cannabis-related applications have been filed since 1978 under the Patent Cooperation Treaty (PCT), with 6,137 applications coming after 2008. Experts say the number could potentially be even higher as firms exploit loopholes to snatch patents related to cannabis such as growing or treating addictions, without expressly referring to marijuana in their application.

In Other News

Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF) signed a definitive agreement to acquire Advanced Grow Labs LLC (AGL) and enter the Connecticut market. AGL is one of only four companies in Connecticut licensed to grow and process cannabis. The Connecticut-based cannabis company operates a 41,000 square foot manufacturing facility in West Haven with the potential to expand. In addition, AGL has a 46 percent ownership of a recently-awarded dispensary that will be located in Westport which makes it the only vertically licensed company in the state. Upon the close of AGL and the other recently announced acquisition, GTI will have 12 manufacturing facilities and licenses for 85 retail locations across 11 states.

Acreage Holdings, Inc. (CSE: ACRG.U) closed the acquisition of Florida-based Nature’s Way Nursery of Miami, Inc. (“Nature’s Way”). Nature’s Way was awarded a vertically integrated operating license last summer and will operate the business as Green Owl Pharms, the name under which it was awarded the operating license. The previously disclosed transaction paves the way for Acreage to bring cannabis products to Florida residents throughout the state. As of December 28, 2018, there were more than 209,000 total cannabis patients in Florida according to the Florida Department of Health Office of Medical Marijuana Use.

CannAmerica Brands Corp. (CSE: CANA) (OTCQB: CNNXF)  entered into a binding letter of intent to create a joint venture with Invictus MD Strategies Corp. (TSXV: GENE) (OTCQX: IVITF) and CBDistribution Company Ltd. with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large-scale CBD extraction.

iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF) opened its first and flagship dispensary in New York on December 30, 2018. The dispensary, located at 202 Flatbush Avenue directly across from Barclays Center and Atlantic Terminal, is the first in Brooklyn, New York’s largest borough, with a population of roughly 2.6 million people.

CLS Holdings USA, Inc. will commence trading on the Canadian Securities Exchange, or CSE, at the opening of the market on January 7, 2019, under the ticker symbol “CLSH”. Cannabis Life Sciences is the developer of a patented extraction and conversion methodology that has the potential to increase both yield and quality of cannabinoid oils extracted from cannabis plants.

Harvest One Cannabis Inc. (TSX-V: HVT) (OTCQX: HRVOF) said that its shares of common stock were approved for trading on the OTCQX® Best Market operated by OTC Market Group.

Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) said that its common shares are now trading on the OTCQX Best Market under the ticker symbol “ROMJF”.  Rubicon Organics’ common shares will continue to trade on the Canadian Securities Exchange under the ticker “ROMJ”.

Canopy Rivers Inc.  (TSXV: RIV) announced that its 49%-owned joint venture PharmHouse Inc. has entered into a syndicated credit facility with the Bank of Montreal, as agent and lead lender, and with Canadian Imperial Bank of Commerce and Concentra Bank as lenders. Under the terms of the Credit Facility, the Lenders will provide PharmHouse up to C$80 million of secured debt financing at a rate of interest that is expected to average in the mid-to-high 5% per annum range over its three-year term.

Dixie Brands Inc. (CSE: DIXI.U), one of the cannabis industry’s leading consumer packaged goods companies, has announced the hiring of two new marketing executives.  Andrew Floor joins as Vice President of Marketing, Dixie Brands, and Hilal Tabsh joins as Vice President of Marketing and Distribution, Aceso Wellness.


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

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 – 7 hours

Jazz Pharmaceuticals MS Study Misses Its Mark

@GreenMarketRpt – 8 hours

Analysts Are Warming Up To Aurora Cannabis

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.