Daily Hit Archives - Green Market Report

StaffStaffFebruary 14, 2019
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7min1050

It’s time for your Daily Hit of cannabis financial news for February 14, 2019.

Happy Valentine’s Day everyone!

On The Site

TILT Holdings Inc.  (CSE: TILT) (OTC: SVVTF) announced preliminary and unaudited pro forma January 2019 gross revenue of $18.3 million. The company’s pro forma January revenue was driven by continued growth of all companies within TILT, including recent acquisitions.

In just January 2019 TILT said its unaudited gross revenue was $13.8 million versus the $7.6 million for the entire year of 2018. Gross margins for January were 16% given the early stages of business integrations, and full-year 2018 gross margins were 21%.

In Other News

Flow Kana announced the completion of a $125 million round of financing – the nation’s largest private funding round for a private cannabis company to date. Gotham Green Partners, which led Flow Kana’s Series A raise in May 2018, invested in the round along with additional private investors to accelerate the company’s rapid growth. Flow Kana has raised a total of $175 million to date to build and scale the California cannabis supply chain centered around small, decentralized, sustainably operated cannabis farms.

Harvest Health & Recreation, Inc. (CSE: HARVOTCQX: HRVSF), a vertically integrated cannabis company with one of the largest footprints in the U.S., announced a definitive agreement to acquire Falcon International Corp., a California cannabis company and leader in cultivation, manufacturing, wholesale distribution and brand development, for a non-material undisclosed amount of stock.

MPX International Corporation  (CSE:MPXI) intends to raise up to C$20 million (approximately US$15 million) in a non-brokered private placement offering of up to 41,666,666 units of the Company at a price of C$0.48 per Unit.

Flower One Holdings Inc. (CSE: FONE) (OTCQB: FLOOF) announced a new long-term licensing agreement and brand partnership with CannAmerica Brands Corp. (OTCQB: CNNXF) for cannabis-product fulfillment in Nevada. CannAmerica Brands is a Colorado-based, marine-veteran-founded cannabis brand known for its line of top-tier cannabis gummies and edibles currently available in three states. Flower One is now licensed to manufacture, distribute and sell CannAmerica Brands’ signature cannabis Fruit Juice Gummies and Super Soft Gummies to all cannabis retailers in Nevada. This agreement represents Flower One’s official launch into the edibles market.

Liberty Health Sciences Inc.  (OTCQX: LHSIF) announced that on February 19th the Company will open its first dispensary in Broward County, in the city of Dania Beach.


StaffStaffFebruary 13, 2019
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3min1072

It’s time for your Daily Hit of cannabis financial news for February 13, 2019.

On The Site

Emerald Health

Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp. has entered into a credit agreement with Bank of Montreal as agent and lead lender and Farm Credit Canada as a lender for C$20 million secured non-revolving term loan. The credit is secured by the greenhouse facility.

Wurk

Cannabis HR firm Wurk announced the raise of $11 million in a funding round led by returning investors Poseidon Asset Management and Arcadian Fund. Existing investors Altitude, Salveo Capital, Phyto Partners, and The Arcview Group also participated in the round.

Wurk plans to use the money to enhance the client experience while expanding its cannabis HCM platform, including the launch of managed services

In Other News

Choom (OTCQB: CHOOF) entered into a letter of intent agreement with one of the 25 Cannabis Retail lottery winners to open a location in Ontario. Choom, an emerging adult use cannabis retailer, is building out one of the largest retail cannabis networks in Canada. The LOI is with a winner of one of the 25 retail opportunities to apply for a license to operate a cannabis retail store granted as a result of the Alcohol and Gaming Commission of Ontario’s Expression of Interest Application Lottery conducted on January 11, 2019.

Sunniva Inc. (OTCQB:SNNVF) completed the previously announced non-brokered offering of convertible debentures.  The originally announced $10 million Financing was over-subscribed with gross proceeds received of CAD $15,042,055. This financing provides additional working capital to enable Sunniva to meet the higher than anticipated near term sales demand for Sunniva branded cannabis products in California and for general corporate purposes. The financing included two insiders of the company subscribing, directly or indirectly, for a total of CAD $2.3 million which demonstrates management and insiders’ commitment to the Company.

Weekend Unlimited Inc. (WKULF) entered into a definitive agreement with R&D Pharma, which is anticipated to close next week. R&D Pharma is a Canadian company building a vertically integrated medical cannabis business in Jamaica.  RDP has secured a Tier-3 Cultivator’s License, which allows for full cultivation of cannabis plants on a land of over 5 acres, which in this case applies to the 98-acre RDP property.


StaffStaffFebruary 12, 2019
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4min740

It’s time for your daily hit of cannabis financial news for February 12, 2019.

On The Site

TerrAscend

Yesterday, the San Francisco-based cannabis dispensary chain, The Apothecarium, announced that they had been acquired by TerrAscend Corp. (CSE: TER) for $118.4 million in cash and stock. Including in the purchase agreement are three retail dispensaries in San Francisco; one vertically integrated cannabis operation which includes cultivation, edibles manufacturing, and a retail dispensary location; and the edibles brand Valhalla Confections.

With more than 200 employees and $45 million in combined revenue, Apothecarium made for an attractive buy to TerrAscend, which recently has been making moves to enter the U.S. market.

Supreme Cannabis

The Supreme Cannabis Company, Inc.  (OTCQX: SPRWF) reported a 359% increase in revenue to $7.72 million for the second quarter ending December 31, 2018. This was a 50% sequential increase over the first quarter revenue of $5.14 million.

The company trimmed its losses by delivering a net loss for the quarter of $1.55 million versus a loss of $2.03 million for the same time period last year. The losses dropped sequentially as well from the first quarter net loss of $5.39 million.

Cannaregs

Cannabis tech company Cannaregs, Inc. has completed a $2 million capital raise that the company will use to expand services and features across the country under the company’s umbrella of Regs Technology. Cannaregs is the leading web-based data technology platform providing up-to-date access to comprehensive cannabis-related legal data including rules and regulations from municipal, county, state and federal sources.

In Other News

MassRoots, Inc. (MSRT) entered into a definitive agreement to acquire COWA Science Corporation, a supply-chain as a service company, for common-stock consideration valued at approximately $5.78 million, and dependent on COWA Science achieving annual revenue milestones of $2.5 million and $7.5 million. The closing of the Agreement is subject to the satisfaction of customary closing conditions, including the completion of audited financial statements of COWA Science.

Veritas Pharma Inc. (VRTHF) entered into an agreement with TG Initiatives Ltd., to purchase a commercial processing facility for hemp and cannabis products, that asset is capable of making a variety of hemp and cannabis products including edibles for human and animal use. Additionally, this asset provides the capability to make a variety of natural topical creams for pain relief and other ailments including any product that comes out of the company’s acute pain reduction human trials recently announced in Puerto Rico.

The Colorado Department of Revenue (DOR) released its monthly reports for marijuana sales and tax data today, which include the final sales and tax data figures for 2018. The reports show:
Marijuana Tax, License and Fee Revenue (for both medical and adult-use)

In calendar year 2018, marijuana tax, license and fee revenue topped $266.5 million.

This compares to over $247 million in the calendar year 2017.

To date, marijuana tax, license and fee revenue totals over $927 million since adult-use marijuana sales began on January 1, 2014. This figure includes revenue for January 2019.

Marijuana Sales (for both medical and adult-use)

In the calendar year 2018, marijuana sales once again topped $1.5 billion (specifically over $1.55 billion).

This compares to just over $1.5 billion in the calendar year 2017.

To date, marijuana sales have surpassed $6 billion since January 1, 2014.

 


StaffStaffFebruary 11, 2019
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6min1070

It’s time for your Daily Hit of cannabis financial news for February 11, 2019.

On The Site

Aurora Cannabis Inc. (ACB) reported that its gross revenue jumped 430% to $62 million over last year’s $11.7 million for the same time period. The net revenue rose 363% to $54.2 million over last year’s $11.7 million.

Losses jumped a whopping 3,179% to $237 million versus last year’s gain of $7.7 million for the same time period. The company said in a statement that “Non-cash expenses including the December 31, 2018 mark-to-market adjustments of approximately $190 million primarily on the company’s derivative investments contributed significantly to a net loss of $240 million.”

Green Growth Brands Inc. or GGB (OTCQB: GGBXF)  entered into an agreement to gain access to 108 prime shop locations in U.S. malls owned and operated by the Simon Property Group, Inc. (NYSE: SPG). GGB will expand its chain of CBD-infused personal care product shops under the Seventh Sense Botanical Therapy.

Simon is the biggest mall operator in the country with high-profile properties including Roosevelt Field in metro New York; The Galleria in Houston, TX; and Woodbury Common Premium Outlets in Central Valley, NY. While there are certainly numerous CBD shops, this is the first company to look at establishing a huge chain right off the bat.

Barney’s New York Inc. is opening a luxury cannabis store on the fifth floor of its Beverly Hills store next month. Bloomberg reported that the luxury store known for its cutting edge fashion will open a department called “The High End.”

Since Barney’s isn’t a licensed dispensary, it will be limited to selling cannabis accessories like pipes, rolling papers, and stash boxes. The company’s partner will be the premium cannabis brands called Beboe and as part of the arrangement, Beboe will educate consumers on its products that they can order online for delivery in the California area.

On Wednesday this week, Congress will hold a hearing on banking services for the cannabis industry. This is the first hearing to be held by the new Congress that will begin tackling the issue of banking for cannabis companies.

Attorney Brady Cobb met with House lawmakers last week and is actively engaged with the legislative process. “With the opposition out of the way, we can finally make some progress,” said Cobb. He was referring to the ouster of Pete Sessions, who continually refused to bring cannabis legislation to the floor for a vote. Cobb said that the committee’s existing members were supportive and expect new members to be positive as well. The hearing will be available on CSPAN.

The National Cannabis Roundtable (NCR) was announced on Friday by the group’s new leader former speaker of the House John Boehner. The group will be lobbying to remove federal restrictions that stand in the way of medical research on cannabis and encourage the development solutions to help patients.

Other agenda items for the group include working to correct the tax code and improve the banking situation for cannabis companies. NCR will also be working to help states enact their own cannabis legislation.

In Other News

Lineage Grow Company Ltd. (CSE:BUDD) and FLRish, Inc. d/b/a Harborside, a private company incorporated under the laws of California have entered into a definitive merger agreement, which will result in the reverse takeover of Lineage by Harborside. The resulting issuer will seek a listing of the Subordinate Voting Shares on the CSE. Lineage intends to effect a change of its name to “Harborside Inc.” and has reserved the new stock symbol “HBOR”.

Geyser Brands Inc. (TSX-V: GYSR) entered into a non-binding letter of intent with Solace Management Group Inc, a company incorporated under the laws of the Province of British Columbia, setting out certain terms and conditions as to the acquisition of all of the issued and outstanding shares of Solace by way of a share purchase, share exchange or similar transaction, following a review of all relevant legal, regulatory and tax matters.

Southern Tier Hemp, a vertically-integrated agriculture technology company that will offer a suite of branded wellness products, just announced its new headquarters will be the largest hemp processing facility in New York State. The company recently disclosed that it reached an agreement to purchase the former Gannett printing plant in Johnson City, New York. The 100,000 square foot facility will become headquarters for Southern Tier Hemp as the company develops, manufactures and sells hemp cannabidiol (CBD) wellness products worldwide.


StaffStaffFebruary 5, 2019
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6min1250

It’s time for your Daily Hit of cannabis financial news for February 5, 2019.

On The Site

Verano

Illinois-based Verano Holdings, LLC has acquired Four Daughters Compassionate Care Inc. of Sharon, Massachusetts and its provisional medical cannabis licenses for an undisclosed amount. The first cultivation and dispensary facilities in Sharon are expected to open in six to nine months. The company said it would hire 50-75 employees locally and train them for these sites in 2019.

As a result of the acquisition, Verano has begun building a cultivation and production facility in Sharon Massachusetts. The company is also renovating an adjacent building for the dispensary. The acquisition marks Verano’s expansion into an additional adult-use market and its expanding geographic footprint into the Northeast from its current 10 operating facilities in Illinois, Maryland, Nevada and Florida, with 45+ licenses under active development in Florida, Michigan, Ohio, Puerto Rico, and Maryland.

GTI

Green Thumb Industries Inc. (OTCQX: GTBIF) is acquiring For Success Holding Company, the owner of Los Angeles-based Beboe branded cannabis products for an undisclosed amount that will be paid in GTI stock.

Beboe is known as a premium brand for its high-end packaging including its iconic rose gold vaporizer pens. The products are available in more than 125 California and Colorado retail locations and via home delivery across California.

In Other News

Jushi

Sound Wellness LLC, a subsidiary of Jushi Inc. has received approval of its industrial hemp-CBD processor license application as part of the New York State Industrial Hemp Agricultural Research program, administered by the New York State Department of Agriculture and Markets. With this announcement, Jushi is proud to support the Western New York community, New York farmers, and the nation’s premier industrial hemp program. Sound Wellness’ hemp-CBD processor license supports the company’s initiative to create product innovations centered around the untapped potentials of hemp.

By investing over $5 million in a high-tech hemp processing operation on the east side of Buffalo, NY, Jushi expects to create approximately 30-65 jobs in the area. The facility will house a state-of-the-art lab, allowing Sound Wellness to create advanced product formulations using CBD distillate, CBD isolate, and water-soluble CBD.

The Flowr Corp.

The Flowr Corporation (OTC: FLWPF)  has submitted an application to list its common shares on The NASDAQ Capital Market and has filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission.

Target Group Inc.

Target Group Inc. (OTCQB: CBDY) entered into an agreement to acquire Massachusetts-based CannaKorp Inc. CannaKorp is the holder of the patent-pending WISP vaporizing system.

The WISP™ is a pod-based, herbal vaporizing system that uses precisely measured, sealed and tested WISP™ Pods containing dried, ground botanicals. The WISP™  vaporizer, used together with WISP™  Pods, gives cannabis users the predictability and assurance to know what they’re inhaling with every use, without the hassle of grinding, measuring, or packing. For the rapidly evolving market of cannabis consumers who prefer vaporization, Wisp™ presents a proven method of delivery with unique bioavailability benefits and avoids the health concerns associated with the combustion of cannabis and other herbs.

Origin House

CannaRoyalty Corp. d/b/a Origin House  (OTCQX: ORHOF) entered into an agreement to provide strategic financing of US$704,000 to Humboldt’s Finest, an alliance of heritage cannabis farms representing Humboldt County. Humboldt’s Finest produces sun-grown cannabis flower on their farms in Humboldt County, California, which is processed into products including jarred flower, pre-roll flower joints, live resin dabs/jars and/or live resin cartr


StaffStaffFebruary 4, 2019
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4min1100

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.


StaffStaffJanuary 31, 2019
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2min1560

It’s time for your Daily Hit of cannabis financial news for January 31, 2019.

On The Site

 Organigram Holdings Inc. (OTCQX: OGRMF) has surpassed making one million cannabis pre-rolls since the legalization of adult use recreational cannabis in October 2018. The company said that it credits the automation of its processes along with surging consumer demand for the success of its large-scale production.

In Other News

NorCal Cannabis, one of the largest vertically integrated cannabis operators in California, announced that it has closed a $27.4 million round of Series A financing. The round formally closed on December 1, 2018, bringing the total amount raised by the company to $50 million since inception in 2015.  NorCal plans to deploy this capital to increase production and manufacturing at its leading-edge Santa Rosa campus, expand its statewide delivery platform and increase its retail and customer-facing footprint. With this raise, the Company is also paving the way for a potential 2019 public listing. Lead investors include Cannabis Growth Opportunity Corporation (CGOC), JM10 Partners and Cresco Capital.

The Supreme Cannabis Company, Inc.  (TSXV: FIRE) (OTCQX: SPRWF) said that its listed securities are expected to begin trading on the Toronto Stock Exchange on February 4, 2019. At that time, Supreme Cannabis’ common shares and 6.0% senior unsecured convertible debentures due 2021 will be voluntarily delisted from the TSX Venture Exchange and will commence trading on the TSX under the symbols “FIRE” and “FIRE.DB”, respectively.

 


StaffStaffJanuary 30, 2019
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3min1670

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

Dixie Brands Inc.

Dixie Brands Inc.  (CSE: DIXI.U) and Khiron Life Sciences Corp. (OTCQB: KHRNF) have signed a binding letter of intent to establish a 50/50 joint venture to introduce a full line of cannabis-infused products to the Latin American market. Dixie will also manufacture and distribute Khiron’s Kuida brand of cannabidiol (CBD)-based cosmeceuticals in the United States, targeting the growing Hispanic population. Completion of the JV is subject to TSX Venture Exchange approval.

By combining Dixie’s market-ready portfolio of cannabis-infused products with Khiron’s established footprint throughout Latin America, the companies aim to capture first-mover advantage and establish leadership in one of the world’s fastest-growing cannabis markets. The agreement also creates a framework for the development of new products and brands tailored to Latin America, allowing Dixie and Khiron to take full advantage of opportunities resulting from cannabis legalization throughout the region.

Innovative Properties Inc.

Innovative Properties Inc. d/b/a Nabis Holdings (OTC: INNPF) entered into an agreement with Canaccord Genuity Corp. and Eventus Capital Corp. to act as co-lead agents and co-bookrunners, with respect to a commercially reasonable efforts brokered private placement of debenture units for aggregate gross proceeds to Nabis of up to C$30,000,000.  for the sale of additional Debenture Units for additional aggregate gross proceeds to Nabis of up to C$5,000,000. Nabis Holdings is a Canadian investment issuer that invests in high-quality cash flowing assets across multiple industries, including real property, securities, cryptocurrency, and all aspects of the U.S. and international cannabis sector. Led by two of the co-founders of MPX Bioceutical (CSE: MPX)

HEXO Corp.

HEXO Corp. (NYSE: HEXO)  closed on its previously announced marketed offering of 8,855,000 common shares at a price of C$6.50 per share for aggregate gross proceeds of C$57,557,500, which includes the exercise of the full over-allotment option of 1,155,000 common shares.

The company will use the net proceeds from the offering for general corporate purposes, including funding its global growth initiatives and research and development to further advance the Company’s innovation strategies. The common shares were offered in each of the provinces and territories of Canada by way of a prospectus supplement dated January 24, 2019, to the company’s amended and restated short form base shelf prospectus dated December 14, 2018.

Cannabis Strategic Ventures, Inc.

Cannabis Strategic Ventures, Inc. (OTC: NUGS) announced its plan to break ground on a 6-acre canopy cultivation site in Northern California which will be known as The NUGS Farm. Complimentary to this land acquisition, the Company has obtained from the State of California over 20 licenses for cannabis manufacturing, distribution, and cultivation.

 

 

 


StaffStaffJanuary 29, 2019
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6min1730

It’s time for your Daily Hit of cannabis financial news for January 29, 2019.

On The Site

Sproutly

Sproutly Canada, Inc. (OTCQB: SRUTF)  announced financial results for the three and nine months ended November 30, 2018. The company reported a net loss of C$2.8 million or $0.02 per diluted share for the quarter versus last year’s net loss of C$473,405 for the same time period. The company also delivered a $9.5 million net loss for the nine months ending November 30.

In the filing, Sproutly noted that it has not generated any revenues from operations and has incurred losses since inception. The company has an accumulative deficit of $12,312,832 and negative cash flows from operating activities for the period from January 17, 2017 to November 30, 2018. To date, the company’s activities have been funded through financing activities.

New Mexico

The New Mexico Medical Cannabis Program racked up $106 million in sales in 2018 for a 23% increase over 2017. Patient enrollment grew by 45% from 2017 to 2018 and now counts 67,574 patients in the system. It’s easy to see an imbalance here. The patient count grew faster than sales.

The largest provider in the system Ultra Health said that the problem is plant count limits combined with regulatory hurdles. The company was the largest provider in the state with a market share of 15.4% in 2018 and reporting $16 million in revenue for the year.

In Other News

Valens GroWorks Corp. (OTC: VGWCF)  announced that it has entered into a multi-year extraction services agreement with Organigram Inc. (OTC: OGRMF) for cannabis and hemp extraction services. Valens will extract cannabis flowers and trim from Organigram’s Moncton operation as well as hemp to produce extract concentrate. In turn, the concentrate will be used by Organigram to produce oils and, eventually, derivative edible and vaporizable cannabis products. The legalization of cannabis edibles and other derivative based products in Canada is expected later this year. In addition, under the terms of the Agreement, Valens will also provide lab services for Organigram as needed.

Alternate Health Corp.(OTCQB: AHGIF) has done a non-brokered private placement of unsecured convertible notes under prospectus exemptions available under applicable securities legislation in the aggregate principal amount of up to C$12,000,000 ($9,000,000), maturing and payable on the date that is three years from the date of issuance. The private placement proceeds will assist in funding Alternate Health’s expansion into California’s adult-use cannabis industry, including key acquisitions. With licensed facilities in Los Angeles and Humboldt County, Alternate Health is actively marketing the Company’s software to leading players in the industry. In addition to funding expansion opportunities in product distribution and CBD marketing, private placement proceeds will be used in Alternate Health’s CanaPass business and for general working capital purposes.

Flower One Holdings Inc.  (OTCQB: FLOOF)  announced a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada. HUXTON is an Arizona-based lifestyle cannabis brand known for their curated, consistent, multi-strain blended products. Flower One is now licensed to manufacture, distribute and sell HUXTON’s signature cannabis products to all cannabis retailers in Nevada.


StaffStaffJanuary 24, 2019
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7min1670

It’s time for your Daily Hit of cannabis news for January 24, 2019.

On The Site

Super Bowl Ad

On February 3, the 53rd Super Bowl in Atlanta Georgia will decide the league champion of football for the 2018 NFL season. If you are in attendance at the Super Bowl, you will see CBD coffee ads in the stadium, but if you are watching the game from home you will be not be exposed to any cannabis related advertising.

New York-based Acreage Holdings, Inc. (CSE: ACRG.U) wanted to run an advocacy ad during the game. The ad featured three medical marijuana patients saying how the product had helped them. It made no health claims for their own products and it didn’t promote the purchase of the company’s products.  Football fans at the stadium will, however, see advertisements for Baristas Coffee Company, Inc. (OTCPK: BCCI) White Coffee and the new Baristas EnrichaRoast CBD Coffee. The company said that the ads will run throughout the day in and around the stadium before, during, and after the game, and will include a special offer to send a message to Maroon 5.

In Other News

Caliva

Carol Bartz, former CEO of Yahoo and Autodesk and former Cisco Board Member, along with three time Super Bowl MVP and Pro-Football Hall of Famer Joe Montana both participated in Caliva’s initial round of funding. Ms. Bartz will serve on Caliva’s Board of Directors.

“We are laser-focused on our strategy to build the most trusted brand in cannabis. With our best selling product portfolio, our large scale vertical integration, and our award-winning distribution channels we are confident we can maintain our growth rates in California in 2019,” said Dennis O’Malley, CEO of Caliva.

Caliva has quickly become a market leader in cannabis consumer products in California, which represents more than 35 percent of the overall United States legal cannabis market. While California’s cannabis economy shrunk by 17 percent year over year due to expanding regulations, Caliva grew its revenues by 350 percent. The company now employs over 440 workers and has two current operating locations in the Bay Area.

Kona Gold

Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce they have acquired the newly formed distribution company, Gold Leaf Distribution, LLC. Gold Leaf Distribution, a Florida based company, has purchased its first beverage truck, which will be fully wrapped to advertise Kona Gold Hemp Energy Drinks, HighDrate CBD Energy Waters, and Storm CBD Waters. The Company is presently conducting interviews to hire a full-time beverage sales person/driver that will establish new distribution routes in the Melbourne-Orlando Florida markets.

Elev8 Brands, Inc.

Elev8 Brands, Inc. (OTCQB: VATE) has acquired Blessed Bean Coffee, LLC. Elev8 Brands, Inc. continues to execute on opportunities for potential growth. The Company is now able to control the means of production from start to finish. Elev8 Hemp, LLC, a wholly-owned subsidiary of the Company, has seen tremendous growth over the last twelve months and should continue to do so throughout 2019. The Company has acquired Blessed Bean Coffee, LLC for 3,541,228 restricted common shares of Elev8 Brands, Inc. With the growing demand for Elev8 Hemp Coffee, the Company plans to purchase a larger roaster and other miscellaneous equipment to increase productivity and continue increasing the volume.

Plus Products

Plus Products Inc. announced that the OTC Markets Group, Inc. has approved the trading of the Company’s shares on the OTCQB® Venture Market and will commence trading under the symbol “PLPRF” on January 23, 2019. The Company’s shares will continue to trade on the Canadian Securities Exchange under the symbol “PLUS”.

Additionally, PLUS has also applied for eligibility for book-entry delivery and depository services of the Depository Trust Company (“DTC”), to facilitate electronic settlement of transfers of its shares in the United States.  This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors. DTC eligibility will help enhance the Company’s potential investor base and offer a more convenient trading experience for current and future shareholders while enhancing the liquidity of the Company’s shares on the OTCQB.

Vangst

Vangst, the leading human capital resource platform to the legal cannabis industry, announced today the closing of an over-subscribed $10 million Series A financing round.  This round increases the total capital raised to date by the Company to $12.5 million. The financing was led by Casa Verde Capital and included Lerer Hippeau, among others.

 

 



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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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