Daily Hit Archives - Page 2 of 61 - Green Market Report

StaffMay 10, 2022


The Daily Hit is a recap of the top business stories from the cannabis industry for May 10, 2022.

On The Site

Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) delivered its 2022 first-quarter business results as revenue jumped by 99% to $25 million versus last year’s $12 million for the same time period. Cronos attributed the increase to its segment in the Israeli medical market and the Canadian adult-use market. Cronos beat the Yahoo Finance average analyst estimate for revenue of $23 million. Read more here.


Urban-gro, Inc. (Nasdaq: UGRO) reported first-quarter financial results with revenue rising to $21.1 million versus $12.0 million in the prior-year period, representing an increase of $9.1 million, or 76%. This beat the Yahoo Finance average analyst estimate for revenue of $19 million.  Urban-gro attributed the growth to an increase in the specification, procurement, and integration of cultivation equipment tied to the growth of new and existing project contracts, as well as $3.4 million of incremental services revenue from acquisitions. Organic revenue growth was 48%, excluding the contribution from the 2WR+ acquisition. Read more here.


Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) announced financial results for its first quarter ended March 31, 2022, with net sales remaining flat at $111.4 million, which missed the Yahoo Finance average analyst estimates for revenues of $129 million. The net loss was ($23.3) million, or a loss of ($0.52) per diluted share, compared to a net income of $4.9 million, or $0.13 per diluted share. This also missed the estimates for earnings of ($0.06). Hydrofarm gave a 2022 forecast for net sales of approximately $480 million to $520 million. Read more here.

AFC Gamma

AFC Gamma, Inc. (NASDAQ: AFCG)  announced its results for the first quarter of 2022 with a net income of $10.2 million or $0.53 per basic weighted average share of common stock. The total net interest income was $16.9 million, an increase of $12.3 million, or 261%, compared to last year. This just beat the Yahoo Finance average analyst estimate for revenues of $16 million. The distributable earnings were $11.9 million in the first quarter or $0.62 per basic weighted average share of common stock, beating the estimates for earnings of $0.57. AFC paid a dividend of $0.55 per common share on April 15, 2022, for the quarter representing a 10% increase from the prior quarter. The distributable earnings significantly exceeded the declared dividend for the fourth consecutive quarter. Read more here.

Flora Growth

Flora Growth Corp. (NASDAQ: FLGC)  reported its financial results for the fiscal year ended December 31, 2021 with total revenue of approximately $9.0 million. The net loss for the year was $21 million, which increased over the previous year’s net loss of $14 million. Revenue for the period was significantly higher when compared to the prior year, primarily reflecting that 2021 was Flora’s first full year as a revenue-generating company, which included the company’s initial public offering on the Nasdaq Capital Market in May 2021. Read more here.

Village Farms

Village Farms International, Inc.  (NASDAQ: VFF) (TSX: VFF)  announced its financial results for the first quarter ended March 31, 2022, as revenue rose 32% to $32 million over last year’s $24 million for the same time period. the company also delivered a net income of $1 million versus last year’s net loss of $2.8 million. Read more here.

In Other News


GrowGeneration Corp. (NASDAQ: GRWG) the largest chain of specialty hydroponic and organic garden centers with 63 locations across 13 states reported financial results for the first quarter ended March 31, 2022.  Net sales declined 9.2% to $81.8 million driven by softer industry demand. Comparable store sales for the quarter decreased 35.5%. Net loss of $5.2 million compared to net income of $6.1 million last year. Loss per share of $0.09 in the quarter. Read more here.


MariMed, Inc. (OTCQX: MRMD) announced its financial results for the first quarter ended March 31, 2022 with revenue growing 27% to $31 million. The Company maintained its previous financial guidance for the fiscal year 2022, including revenue of $145 million to $150 million. Read more here.


Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) an immunology company provided a corporate update and reported financial results for the first quarter of 2022. The Company reported a net loss of approximately $9.4 million, or a net loss per diluted share of $0.08, for the three months ended March 31, 2022, compared to a net loss of approximately $16 million, or a net loss per diluted share of $0.14, for the same period in 2021. Read more here.

StaffMay 9, 2022


The Daily Hit is a recap of the top cannabis business stories for May 9, 2022.

On the Site


Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) reported its financial results for the first quarter ended March 31, 2022, with total revenue increasing by 20% to $313 million versus $260 million in the first quarter of 2021. Curaleaf said that the revenue growth primarily reflected continued organic growth driven by new retail store openings, the addition of new wholesale partner accounts, product launches, and the expansion of cultivation and production facilities. Revenue fell sequentially by 2% from the fourth quarter’s $320 million and missed the Yahoo Finance average analyst estimate for revenue of $319 million.

Curaleaf also reported a net loss of $20 million, which was higher than last year’s net loss of $15 million in the first quarter of 2021. The company said that the net result was primarily impacted by approximately $12 million of higher income tax expense and $2 million of higher other expenses, net, partially offset by an $8 million increase in operating income. The earnings were for a loss of three cents per share, which beat the estimates for a loss of four cents per share. Read more here.


Last week, the Food & Drug Administration (FDA) sent out warning letters to five cannabidiol (CBD) companies for Unapproved New Drugs/Misbranded/Cannabidiol (CBD) Products. The companies receiving the letters were  Kingdom Harvest, Delta 8 Hemp, ATLRx Inc., BioMD Plus and M Six Labs Inc. Read more here.

NY Chair Tremaine Wright

On April, 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. The Summit was especially grateful that the Chair of the New York Cannabis Control Board, Tremain Wright was able to speak to the audience. Thank you for watching the Green Market Report! Be sure to subscribe to our channel and our newsletters. Video available here.

In Other News


Akerna (Nasdaq: KERN) reported its unaudited financial results for the quarter ended March 31, 2022. Total revenue was $7.0 million, up 73% year-over-year. The net loss was $22.0 million, up $15.5 million year-over-year. Loss from operations was $20.6 million, up $17.1 million year-over-year. Transaction volume up 16% year-over-year. Average new business deal size up 40% year-over-year. Retail order spend up 6% year-over-year. Read more here.

XS Financial

XS Financial Inc. (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced today that it has upsized its lease facility with Ayr Wellness (CSE: AYR.A)(OTCQX: AYRWF) up to $37.4 Million including an immediate drawdown of $12 Million, bringing the total usage to over $33.1 million. All amounts are in U.S. dollars. Read more here.

StaffMay 4, 2022


The Daily Hit is a recap of the top cannabis business stories for May 4, 2022.



It isn’t McDonald’s (NYSE: MCD), but cannabis franchising is a very real part of the industry. Using data from Cannabiz Media, Green Market Report took a look at the top franchising leaders in the overall market. We then drilled down into Canada and the U.S. to see who the leaders are in each country. Read more here


Stifel analysts had some sobering thoughts on the cannabis industry in the company’s recent first-quarter outlook report. The most positive comments went to Weedmaps (NASDAQ: MAPS) as the analysts wrote, “We believe WM Technology is currently the best positioned public cannabis company to capitalize on category growth, with the ability to lead growth with unmatched capital efficiency, with the shares continuing to undervalue our robust growth outlook.” Read more here.


On April, 28, 2022, Green Market Report held its first-ever Women’s Summit. During the event, the Women’s Leadership Awards were announced and presented to the winners. Over the next two weeks, we will highlight each of these winners and congratulate them on their contributions to the cannabis industry. Read more here


There are a number of law firms building a list of clients in the psychedelics industry, in part because there are more issues percolating within the legal system about a federally illegal substance, and more companies exploring developments in this space. Read more here


Small Pharma (OTC: DMTTF), a London-based neuropharmaceutical company focused on psychedelic-assisted therapies, made big news recently with the announcement of the first clinical trial in February 2021, using N, N-Dimethyltryptamine (DMT) to treat major depressive disorder. Read more here



Today, the U.S. Food and Drug Administration issued warning letters to five companies for selling products labeled as containing delta-8 tetrahydrocannabinol (delta-8 THC) in ways that violate the Federal Food, Drug, and Cosmetic Act (FD&C Act). This action is the first time the FDA has issued warning letters for products containing delta-8 THC. Delta-8 THC has psychoactive and intoxicating effects and may be dangerous to consumers. The FDA has received reports of adverse events experienced by patients who have consumed these products. Read more here


Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE dispensaries, today reported its financial results for the first quarter ended March 31, 2022. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars. Revenue increased 25% year-over-year to $243 million, flat compared to the fourth quarter of 2021. Read more here


Sugarmade, Inc. (OTC Pink: SGMD) announces its first transaction relative to its collaborative cannabis cultivation strategy via a definitive and executed contract with Cannabis Global, Inc. (OTC Pink: CBGL). Under the terms of the agreement, Sugarmade, via partner licensed and permitted Lake County, California, cannabis cultivators, will produce approximately 25,000 pounds of “Fresh Frozen” cannabis, which Cannabis Global, Inc. will use in its product lines and will distribute to the California marketplace. Read more here


Lucid Green, a UPC platform today announced three new partnerships with cannabis testing labs and lab information systems (LIMS) to expand full digitization of COAs in the cannabis supply chain. The new partnerships with CannaSafe, Cannalysis, and LabLynx build on Lucid Green’s existing partnerships with Confident Cannabis and Sonoma Lab Works. Through these new lab and LIMS partnerships, Lucid Green is connected to more than 400 individual labs in the U.S. Read more here


The global industrial hemp market was found to be valued at $4,452.0 million in 2021, which is projected to reach a huge $60,682.8 million by 2030, increasing at a massive CAGR of 33.7% from 2021 to 2030. The growing need for hemp in several industries and the rising legalization of the cultivation of cannabis for industrial uses are some major drivers for the market. Hemp is now used in a variety of products, such as organic body care products, clothing, health foods, and biofuels. Read more here


Item 9 Labs Corp. (OTCQX: INLB) — a vertically integrated cannabis dispensary franchisor and operator that produces premium products — announced the accelerated growth of its dispensary franchise model, Unity Rd. across the U.S. with successful expansion into multiple new markets over the past two months. Currently, the Company has two dispensaries open in Colorado and Oklahoma with development across another 10 states, driven by more than 20 entrepreneurial groups. Read more here



StaffMay 3, 2022


The Daily Hit is a recap of the top business stories in the cannabis industry for May 3, 2022.

On the Site


The Scotts Miracle-Gro Company (NYSE: SMG) announced record second-quarter sales in its U.S. Consumer segment driven by continued support from its major retail partners. However, Scotts also noted that for the fiscal second-quarter sales dropped 8% to $1.68 billion, from $1.83 billion a year earlier. U.S. Consumer segment sales increased slightly to $1.38 billion. Sales for the Hawthorne segment decreased 44% to $202.6 million. Scotts had previously warned that sales weren’t looking very good for the segment. Read more here.


After the market closed on Monday, Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) announced preliminary unaudited financial results for the fourth quarter and full-year ended December 31, 2021. In addition to that, Cansortium forecasted that its expected revenue in 2022 would range between $90–$95 million, reflecting an approximate 45% increase from 2021 at the midpoint. Cansortium said it also expects adjusted EBITDA in 2022 to range between $25–$28 million, reflecting an approximate 35% increase from 2021. Read more here.


Companies flock to celebrities to endorse their brands despite the certainty of their return on investment (ROI). Still, market activity remains immense. So much so that influencer marketing could grow to approximately $16.4 billion this year. Huge returns, in some cases, bolster the fondness for celebrities. Conversely, partnerships also see brands fail to connect with audiences while burning ad budgets. In cannabis, various noteworthy names help get the word out when most traditional digital marketing means are prohibited. The key to winning consumers’ attention and shopping loyalty appears to be authenticity. Read more here


Cannabis marketing firm Springbig is dramatically reducing its valuation in its IPO deal with SPAC company Tuatara Capital Acquisition Corp. (NASDAQ: TCAC)to $275 million from the previously announced valuation of $500 million. In November, Tuatara Capital Acquisition Corp. said it reached a deal with Springbig to merge with an estimated equity value of $500 million of the combined company with a $300 million springbig enterprise valuation plus $200 million cash on the balance sheet from the SPAC.  On Tuesday, the sides agreed “that market conditions have changed since the proposed merger agreement was initially announced,” according to a statement. Although it is worth noting that Springbig’s annual revenue is just $24 million, making even the lowered valuation pretty frothy. Read more here.


The fast-acting edible company 1906 has secured a seven-figure investment from Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. According to the company statement, it is a first-of-its-kind investment by a state venture fund in a cannabis business. Read more here.

In Other News


HEXO Corp. (NASDAQ: HEXO) has established an at-the-market equity program that allows the company to issue and sell up to $40 million of common shares in the capital of the company from treasury to the public, from time to time, at the Company’s discretion. The ATM program replaces the “at-the-market” offering of Common Shares in Canada and the United States having an aggregate sale price of up to C$150 million pursuant to the equity distribution agreement dated May 11, 2021between the Company and BMO Nesbitt Burns Inc. as Canadian agent and A.G.P./Alliance Global Partners and BMO Capital Markets Corp. as United States agents, which was terminated effective April 11, 2022. Read more here.

StaffMay 2, 2022


The Daily Hit is a recap of the top cannabis business stories for May 2, 2022.

On The Site


A judge decided on Friday that a New York case against Acreage Holdings (OTC: ACRHF) can proceed. Judge Andrea Masley in the New York Supreme Court listened to a week-long case and following closing arguments decided that the case against Acreage would not be dismissed. The case is regarding a New York license whose ownership got muddled through a series of mergers and partnerships. Leading the charge is David Feder, an attorney who is part of a group that is claiming that Acreage Holdings cut them out of a portion of ownership of the converted limited New York cannabis licenses. The lawsuit claimed that Acreage acquired a New York property and this particular investor (EPMMNY) wasn’t included in the sale. A review of the legal document shows that EPMMNY’s equity stake was never finalized and so it wasn’t included in the final application for New York Canna (NY Canna). Read more here.


Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced its financial results for the year ended and quarter ending on December 31, 2021. In the fourth quarter, Khiron reported revenue of $3.6 million an increase over last year’s $2.5 million for the same time period. The net loss mushroomed to $19.2 million over last year’s net loss of $2.3 million for the same quarter. In 2021, the total revenue increased over 60% YoY to $12.8 million compared to the previous year. the net loss for the full year was $33million versus 2020’s net loss of $24 million. Khiron is forecasting revenue of $4.5 million for the first quarter of 2021. Read more here.


“Psychedemia” is a mix of “psychedelic” and “academia”—meaning the integration of psychedelics into academia—and is a term coined by LSD research pioneer Humphry Osmond in 1957. It has been used since 2012 as the title for a grassroots collaborative psychedelics conference organized to “foster novel contributions to this burgeoning field,” and to “consider data from new research with an open mind.” Read more here.

In Other News


Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) announced preliminary unaudited financial results for the fourth quarter and full-year ended December 31, 2021. Read more here.

Q4 2021 Preliminary Financial Highlights (vs. Q4 2020)

  • Revenue increased 13% to $16.5 million compared to $14.7 million.
  • The Expected Operating loss decreased to $(1.6) million compared to $(9.7) million.

FY 2021 Preliminary Financial Highlights (vs. FY 2020)

  • Revenue increased 22% to $63.7 million compared to $52.4 million.
  • The Expected Operating loss decreased to $(2.4) million compared to $(8.4) million.

AFC Gamma

AFC Gamma, Inc. (NASDAQ: AFCG) announced that it has entered into a senior secured revolving credit facility (“Credit Facility”) with $60 million of current commitments from two FDIC-insured banks and the ability to increase the facility to $100 million. The two banks have over $70 billion of assets in the aggregate. AFC Gamma intends to use the available capital from the Credit Facility to fund unfunded commitments under loans to its existing borrowers, to originate and participate in commercial loans to cannabis operators that are consistent with its investment strategy, and for working capital and other general corporate purposes. Read more here.

StaffApril 28, 2022


The Daily Hit is a recap of the top cannabis business stories for April 28, 2022.



On Thursday, April 26th, the first-ever Green Market Report Women’s Leadership Awards ceremony was held at The Green Market Report Women’s Summit in Manhattan, NYC to honor female and female-identifying cannabis professionals in categories ranging from Cultivation to Activism and Politics. Read more here.



Harborside Inc. (CNSX: HBOR), (OTCQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today filed its audited annual financial statements and management’s discussion & analysis for the twelve months ended December 31, 2021, under the Company’s profile on SEDAR at sedar.com. Read more here


Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) today announced that it has signed a letter of intent and entered into exclusive negotiations to acquire Phytocann Holdings SA,  European-based wellness CBD companies. The planned acquisition would add substantial revenue, EBITDA, geographic diversification, and a CBD-based product lineup to Halo when closed. Read more here




Eco Innovation Group, Inc. (OTC: ECOX), a company developing green energy solutions, is pleased to update current and prospective shareholders as the company’s exclusively licensed supercritical Glycerin Extraction Technology (or GET System), an advanced cannabis extraction system, is now covered by claims in U.S. Patent No. 11,304,986 issued April 19, 2022. Read more here




MariMed Inc. (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced it completed the acquisition of Kind Therapeutics U.S.A., LLC, a leading vertically integrated cannabis business in Maryland. The Maryland Medical Cannabis Commission approved the transfer to MariMed at their April 13th meeting and the closing took place April 27, 2022. Read more here




Roundhill Investments, an ETF sponsor focused on developing innovative thematic funds, is pleased to announce that options for WEED —  the Roundhill Cannabis ETF — are now listed for trading on Cboe’s options exchanges. The Roundhill Cannabis ETF (“WEED ETF”) is designed to offer investors exposure to the cannabis sector. Read more here




Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ, a plant-based extraction company focused on cannabis and hemp, announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has received an initial purchase order (PO) for its cannabis vape cartridges and CBD edibles from the Nova Scotia Liquor Corporation Cannabis. This marks the sixth province that will be listing Pure Extracts’ branded products. Read more here



Treez (www.treez.io), the leading enterprise cloud commerce platform that powers retail and supply chain operations for the cannabis market, announced today its retail customers reported strong growth in sales and other key business performance metrics during the 4/20 holiday last week. Read more here.

StaffApril 27, 2022


The Daily Hit is a recap of the top cannabis business stories for April 27, 2022.



Turning Point Brands, Inc. (NYSE: TPB) announced financial results for the first quarter ended March 31, 2022. Turning Point reported that net sales decreased 6.3% to $100.9 million, while net sales for Zig-Zag and Stoker’s Products increased 10.1%. Net income decreased 6.7% to $11.0 million. The adjusted EBITDA dropped 9.8% to $25.3 million and the diluted EPS of $0.55 and Adjusted Diluted EPS of $0.71 as compared to $0.57 and $0.80 in the same period one year ago, respectively. Read more here.


After the market closed on Tuesday, Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that it was undertaking a series of initiatives to reduce costs and drive efficiency in order to accelerate its path to profitability. Canopy Growth management said it expects to generate a cost of goods sold COGS savings of $30 – $50 million and reduce SG&A expenses by $70 – $100 million within 12 – 18 months. Read more here.


Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its 2021 financial results with fourth-quarter 2021 revenue of $211 million and a net income of $27 million, or 19% of revenue. this was also Verano‘s first quarter to implement U.S. accounting standards called GAAP and audited in accordance with U.S. PCAOB. Read more here.


When discussing the many social issues facing the U.S., one stands out—the war on drugs, which still haunts the law enforcement system today as it continues to incarcerate non-violent minor drug crime offenders even in states where a Schedule 1 drug (cannabis) is legal. Reform is coming on this issue. In the November 3rd, 2020 election, drug policy reforms were approved by voters in every state in which they were on the ballot, according to the National Association of Criminal Defense Lawyers. Read more here.



Harvest Direct Enterprises, a biotech company pioneering lossless cannabis processing, announced today that industry titans and activists, Steve DeAngelo and Andrew DeAngelo, are joining the company’s advisory board. Steve and Andrew DeAngelo will leverage their experience to assist Harvest Direct in engaging with researchers for clinical trials, while also engaging with national and international licensing partners interested in Harvest Direct’s patented LACY technology. Read more here.


Fluresh LLC, a vertically integrated cannabis operators in Michigan, announced today the closing of a senior secured note with a federally regulated commercial bank headquartered in southeast Michigan. The secured Bank Note closed on December 28, 2021, and is for aggregate gross proceeds of $25 million. The Bank Note has a variable interest rate and, at the time of closing, bore an interest rate of 5.75% per annum with 50% of the aggregate proceeds capped at 7.0%. Read more here.


Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, today announced the closing of the acquisition of Greenhouse Wellness West Virginia Dispensaries LLC, holder of a West Virginia dispensary permit. Trulieve paid an immaterial amount of cash consideration for the transaction. Greenhouse was awarded the dispensary permit in Martinsburg, West Virginia, in January 2021. Read more here.


High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA), a retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced the company has completed its acquisition of three operating cannabis stores in Ontario, operating under the name Crossroads Cannabis for CAD $1.9 million. The stores are located in Stratford, Hanover, and Markdale. Read more here.


Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two facilities based in Québec, today announced its fiscal second quarter 2022 financial and operating results for the three and six-month periods ended February 28, 2022. The company recorded $7.4 million in quarterly revenues. Read more here.


Endexx Corporation (OTC: EDXC), a provider of hemp-derived wellness and nutritional products, today announced its Form 10Q, first quarter ending December 31, 2021. Endexx continues to rebound and grow following two years of pandemic and economic challenges. Ongoing supply chain issues impacted packaging and individual ingredient availability and may continue to delay some production runs in key product sets during 2022/2023. Read more here.


Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced today that its affiliate in Germany, Clever Leaves Germany GmbH, has received all of the required regulatory licenses, permits and certifications by the German authorities to be able to distribute medical cannabis to wholesalers and around 20,000 pharmacies located in Germany. Read more here.

StaffApril 26, 2022


The Daily Hit is a recap of the top cannabis business stories for April 26, 2022.



Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWD) announced its financial results for the fiscal year and the fourth quarter ended January 29, 2022. In the fourth quarter, Fire & Flower reported that revenue dropped slightly by 1% from the previous year to $42.7 million. Fire & Flower said that retail revenue for the fourth quarter, decreased 5% to $31.7 million from $33.2 million in the prior year’s comparative period. Read more here.


Ketamine pharmaceutical company PharmaTher Holdings Ltd.  (OTCQB: PHRRF) (CSE: PHRM) reported financial results for its third quarter ended February 28, 2022, and provided recent business highlights and updates. The company doesn’t have any revenue to report at this time but did note that it has nearly C$12 million in cash and investment. Read more here


Anyone undergoing psychedelics psychotherapy is putting themselves at risk. They are surrendering to a power dynamic between themselves and the therapist in which they have little or no control. Read more here.



Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a diversified cannabis, hemp, and cannabis device company, today announced that the Company is undertaking a series of initiatives to reduce costs and drive efficiency in order to accelerate its path to profitability. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated. Read more here


Akerna (Nasdaq: KERN), an enterprise software company and the developer of comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced that April 20, 2022, broke all previous cannabis retail records, bringing in a total of $154.4 million in adult-use and medicinal sales. Read more here.


Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a cannabis company specializing in retail, production, processing, wholesale, and distribution, announced the launch of Chalice Metaverse on 4/20 resulting in a 25% increase in recorded daily revenue over the previous year and a 40.6% increase in vertical sales at Chalice Farms and Homegrown retail stores. Read more here.


Cannabis retail sales on 4/20 continued to increase industry-wide, even as profit-per-store saw decreases from pre-pandemic and 2021 sales numbers, according to Cova Software, a cannabis Point of Sale (POS) company in North America. Americans spent an estimated $128M+ on cannabis this year on 4/20, while Canadians spent just a little over $16M. Although average sales per store did not match pre-pandemic levels, 4/20 still proved to be one of the most significant holidays in terms of cannabis sale totals and store traffic. Read more here


4Front Ventures Corp. (CSE: FFNT) (QTCQX: FFNTF), a vertically integrated, multi-state cannabis operator and retailer, announced it has closed on the purchase of Island Global Holdings, Inc., a California-based producer of pre-rolls, flower and concentrate products. The transaction was first announced in the Company’s press release dated March 30, 2022. Read more here


Lucid Green, a UPC platform company, announced today its $10 million Series B funding round led by Gron Ventures, with participation by Gotham Green Partners. Lucid Green also announced three new pricing levels for brands, with varying levels of support to accommodate businesses of all sizes. Read more here


BC Craft Supply Co Ltd. announced the unanimous approval of the company’s proposal to its creditors at the meeting of certain of its creditors. The proposal was approved by 100% in number of Affected Creditors who represent 100% in value of the eligible voting claims of Affected Creditors who were present and voted in person or by proxy on the Proposal at the Meeting and who were entitled to vote at the Meeting in accordance with the Proposal and Bankruptcy and Insolvency Act. Read more here

StaffApril 25, 2022


The Daily Hit is a recap of the top business stories in the cannabis industry for April 25, 2022.

On The Site


Cannabis investors have seen stock prices tumble even as cannabis companies report increasing sales. Green Market Report recently asked some leaders in the cannabis industry how they felt about the market in general despite the market pessimism. Read more here.

New Hampshire

While most of the country was celebrating 420 last Wednesday, New Hampshire politicians were doing the opposite. WMUR reported that the state’s Senate Ways & Means Committee voted unanimously against a House bill that would make New Hampshire a “cannabis control” state, legalizing marijuana but allowing it to be sold only at state-owned storefronts, much like the current system for liquor. Read more here.

High Times

High Times is celebrating the four-year anniversary of its IPO filing by once again extending the offering. This time it’s being extended to June 30, 2022. Not that anyone can buy any stock. The company was told by the SEC that it couldn’t sell any more shares until it posted updated financial information, which it hasn’t. Read more here.

In Other News


Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) has formed HC Solutions Holdings Inc., a Joint Venture with Green Acre Capital Distribution Corp., for the purpose of distribution of cannabis throughout the United States, initially focused on accelerating the Company’s expansion into cannabis distribution operations in California. Subsequent to the formation of the JV, Green Acre completed a $2 million investment directly in the JV. Green Acre has funded its investment through an option agreement with Johnson Brothers, a leading wine, spirits and beer distributor in the United States. Read more here

High Tide

High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) announced approximately CAD$1,372,600 in total retail gross revenues across all retail platforms on April 20, 2022 (4/20), representing a 76.21% increase from the previous Wednesday. The company’s Canadian bricks-and-mortar stores reported a 63.05% increase, while sales across its e-commerce platforms (Grasscity.com, Smokecartel.com, Dailyhighclub.com, Dankstop.com, Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk, and BlessedCBD.de) reported an increase of 129.41% over the previous Wednesday. Read more here.

StaffApril 21, 2022


The Daily Hit is a recap of the top cannabis business stories for April 21, 2022.

On The Site


AFC Gamma, Inc. (NASDAQ: AFCG) has provided a senior secured credit facility of up to $82.5 million to Bloom Medicinals Holding Company, a privately held multi-state cannabis operator with licenses in Missouri, New Jersey, and Ohio. Bloom said it plans to use the money from the new credit facility to repay existing debt, fund expansion initiatives, acquire a Level 1 Cultivation license in Ohio and provide additional working capital. Read more here


Icanic Brands Company, Inc. (OTCQB: ICNAF)  has acquired all of the common stock of LEEF Holdings, Inc., a California based extractions company, in a merger agreement dated January 21, 2022. “This is an extremely exciting milestone for LEEF and our entire team,” said LEEF CEO Micah Anderson. Read more here


Ascend Wellness (OTC: AAWH) has opened its store in Rochelle Park, New Jersey for legal adult-use cannabis sales. The company opted to start opening day with appointment-only visits. Read more here (VIDEO). 


Green Thumb Industries (OTC: GTBIF) began selling adult-use cannabis for the first time at its Rise dispensaries in New Jersey. April 21 was the first day that the state of New Jersey cannabis companies could legally sell recreational marijuana. The company was able to start sales at the Bloomfield and Patterson New Jersey stores. Read more here (VIDEO).

In Other News


Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), an international provider of consumer products in cannabis, today announced that it has been approved by the New Jersey Cannabis Regulatory Commission to commence adult-use cannabis sales. Starting today, April 21, 2022, the Curaleaf dispensary in Bellmawr will begin serving adult-use customers, with Edgewater Park and Bordentown to quickly follow. Read more here


Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF), a North American distributor of cannabis and cannabis accessories, announced that it’s subsidiary Humble Cannabis Solutions has officially begun operations in the California market and signed an exclusive distribution services agreement with leading California brand house, Canndecent Brands. Read more here.


The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS), a manufacturer of cannabis products is pleased to announce that its wholly-owned subsidiary Green Roads, Inc., has entered into an agreement with Signifi Solutions, Inc. to place cloud-managed Green Roads smart kiosks in various premium mall locations around the U.S. Read more here


Bespoke Financial, a Fintech lender providing debt financing to cannabis companies, today announced its strategic partnership with PayQwick, the cannabis industry’s most comprehensive treasury, and financial services platform. The partnership provides a compliant one-stop shop for cannabis businesses to access Bespoke’s lending products and PayQwick’s invoicing, electronic bill pay, armored car cash pick-up, wire transfers, and other financial services. Read more here.


Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a cannabis company specializing in retail, production, processing, wholesale, and distribution, announced the signing of definitive agreements and services agreements to acquire two retail stores located in Bend and Corvallis, Oregon, from Miracle Greens, Inc. and two outdoor cultivation assets in Grants Pass, Oregon from Totem Farms, LLC for total consideration of US$2.63 million. Read more here.


Allied Corp. (OTCQB: ALID) announced that it has initiated three major commercial exports of Colombian-produced dried cannabis flower. One export is intended for Australia, and the other two exports are for the United States. The starting export volumes are for 1000, 1000 and 500 kilograms respectively. Allied only exports cannabis flower to countries where it is legal to do so (for example, in the United States the THC levels need to be less than 0.3%). Read more here

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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