Gabriella's Kitchen Archives - Green Market Report

William SumnerAugust 29, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

5min15040

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

On the Site

Tilray

Tilray, Inc.  (NASDAQ: TLRY) will be buying Alberta-based dispensary chain FOUR20 through its wholly-owned subsidiary of High Park Holdings Ltd. The recreational retail brand provides adult-use cannabis consumers with a premium retail experience focused on high-quality product selection, education, and community. FOUR20 currently operates six licensed retail locations and has 16 additional high-traffic locations secured in desirable locations in Alberta, including Canmore, Calgary, and Edmonton.

Food, Drug or Something Else: What is Hemp-Derived CBD?

It has been just over a month since the public comment period closed in the wake of the public hearing held by the FDA, “Scientific Data and Information about Products Containing Cannabis or Cannabis-Derived Compounds”. Over 4,000 comments were docketed, ranging from controlled scientific data submissions to tales of miracle cures to horror stories. It will be interesting to see what the agency gleans from the docket.

Los Angeles Bringing Back The “War on Drugs” for Illegal Commercial Cannabis Activity

Bringing Back The War – A bit of background on illegal storefront dispensaries tells us And the enforcement in California will come from both state and local authorities. The City of Los Angeles recently launched a massive crackdown on unlicensed, illegal cannabis businesses, filing misdemeanor charges against more than 500 people and shutting down 105 illegal cannabis businesses, including cultivation operations, extraction labs, and delivery companies across the city

In Other News

Cansortium

Cansortium Inc. (CSE:TIUM.U) (OTCQB: CNTMF) reported its second quarter revenue today. Consolidated revenue increased to $6.1 million. The consolidated net loss was $5.3 million. Consolidated EBITDA was $1.8 million. “While we continued to execute our strategy to expand cultivation, processing, and dispensaries during the second quarter, a combination of unexpected delays in construction needed in order to secure final regulatory approvals at our Tampa cultivation Phase 2 expansion, as well as delays in opening certain previously planned Florida dispensaries, led to second quarter revenues that were lower than originally anticipated. As a result, we are experiencing an approximate six-month delay on our plans presented earlier in the year,” said Cansortium CEO Jose Hidalgo.

Vireo Health

Today, Vireo Health International, Inc. (CNSX: VREO) (OTCQX: VREOF) reported its financial results for the second quarter. Operating revenue totaled $7.2 million, and the net loss was approximately $1.9 million.  EBITDA and adjusted EBITDA were $0.8 million and $2.3 million, respectively. “Increasing patient enrollment in Minnesota and New York continued contributing to organic revenue growth during the second quarter, and wholesale demand trends in Maryland and Pennsylvania have also been encouraging signs that our products can compete effectively within a broader marketplace,” said Vireo Founder and CEO, Kyle Kingsley.

Gabriella’s Kitchen

Gabriella’s Kitchen Inc. (CSE: GABY) also released their financial results for the quarter. Revenue was $2.5 million, up from $319,737 in the same period in the previous year. The gross loss declined from $264,607 to $49,712. As of June 30, 2019, the company has $11.5 million in cash and $37.3 million in assets. “When we announced our target on May 7, 2019 of $35 million in pro-forma revenue for the fiscal year, we took into account that Q2 would be a slower quarter due to the delayed closing of our $20 million raise, the company’s short-term decision to allocate available capital to maintain relationships and shelf space with dispensaries, and the transitioning from a shared distribution model in Southern California to a sole distribution model, staffed with our internal salespeople,” said Margot Micallef, Founder and CEO of GABY.


William SumnerJune 5, 2019
daily_hit004.png?fit=1200%2C500&ssl=1

4min14010

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

On the Site

Free Advice For California’s Cannabis Tax Collection

Everyone knows the maxim “Free advice is worth what you pay for it”  There are, however, exceptions.  Everyone knows a second maxim “The exception that proves the rule”  In this article, we provide free advice to the California Department of Tax and Fee Administration (“CDTFA”).

Creative Digital Methods For Effectively Marketing A Cannabis Company

One of the most interesting and exciting elements to the, now emerging, legalized cannabis trade is how cannabis’ image, its past connotations and all of the potential uses that it has open to it, affects its sales and sales potential. Given that we’re talking about image, we’re really talking about marketing, and how you could creatively market something which was previously not only illegal most places, but actively frowned upon…

In Other News

Gabriella’s Kitchen

Gabriella’s Kitchen Inc. (CSE: GABY) (OTCQB: GABLF) announced that it has upsized a previously announced private placement offering of C$10 million units of the company up to C$20 million. Advised by its lead underwriter, GMP Securities L.P., the company has structured the upsized offering with a base of up to C$16 million with an over-allotment option of C$4 million. The proceeds of the offering will go towards capital expenditures, potential acquisitions, brand and sales investment, working capital, and general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) announced that it has entered into binding term sheets to acquire Colorado-based Los Sueños Farms, LLC, North America’s largest sustainable cannabis farm, and Mesa Organics Ltd., a cannabis dispensary and infused products manufacturing company. The acquisition was made possible through the passage of the Colorado measure House Bill 19-1090, which opens Colorado’s cannabis industry to outside investors.

Green Thumb Industries

Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) has announced that it has closed its acquisition of Integral Associates. Included in the acquisition is Integral Associates’ three high-traffic Essence retail stores located in the Las Vegas area, including the only cannabis retail store on the Las Vegas Strip; eight additional retail licenses in Nevada; a retail license in West Hollywood; Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility; and Cannabiotix NV, a 41,000 square foot cultivation and processing facility.


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 – 22 hours

We are stoked to open up nominations for the 1st ever GMR Cannabis Tech Awards. They will be announced at the GMR T…

@GreenMarketRpt – 1 day

Flower One’s Revenue Drops In Fourth Quarter, Restructures Debt Payments

@GreenMarketRpt – 1 day

SPACS Losing Their Mojo As Deals Get Pushed Out

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.