Gen!us Archives - Green Market Report

William SumnerWilliam SumnerAugust 23, 2019
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4min4270

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

On the Site

Gen!us

From Jimi Hendrix to Carl Sagan, many of the greatest artistic and scientific minds in history have used cannabis to help spur cultural progress, and yet surprisingly few entrepreneurs have aspired to create a cannabis strain specifically bred to inspire creative thought. A new cannabis brand called Gen!us hopes to change that…

TerrAscend

Toronto-based TerrAscend Corp. (CSE: TER)(OTCQX: TRSSF)  reported that its second-quarter revenue rose 21% sequentially to $17.6 million from $14.6 million for the first quarter. A huge jump for the quarter ending June 30, 2019 over last year’s $0.01 million in 2018. The company raised its revenue guidance from $135 million which was projected in April to $141 million for 2019. On a pro forma basis, TerrAscend said it generated $42 million of revenue in the second quarter or over $168 million on an annualized basis.

In Other News

Green Growth Brands

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) has closed its previously announced bought deal offering. Selling 22.5 million units of the company, at a price of C$2.45 per unit, the company raised C$50.22 million. The proceeds of the offering will go towards paying off the cash portion of its acquisition of Nevada Organic Remedies LLC, Henderson Organic Remedies LLC, and deferred cash compensation and certain other fees in connection with its acquisition of Spring Oaks Greenhouses, Inc.. The remained will go towards capital expenditures and general corporate purposes.

KushCo Holdings

KushCo Holdings, Inc. (OTCQX:KSHB) has closed on a $50 million credit facility with Monroe Capital LLC, which consists of $35 million revolving line of credit and an accordion of up to $15 million that will be available subject to covenant compliance and borrowing base availability. The facility will last for five years. KushCo continues to execute on its less dilutive financing strategy that will provide the capital necessary to support our continued operations and acquisitive growth,” commented KushCo CEO Nick Kovacevich,. “We are excited to partner with an entrepreneurial-focused private credit firm such as Monroe, and we have plans to grow our businesses together providing critical products and services to the cannabis and CBD industry. As the size of our customer’s business grows, it’s imperative to have an adequately sized credit facility that will increase as our business grows.”


William SumnerWilliam SumnerAugust 22, 2019
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2min12110

It has been often said that cannabis helps foster creativity and ingenuity. From Jimi Hendrix to Carl Sagan, many of the greatest artistic and scientific minds in history have used cannabis to help spur cultural progress, and yet surprisingly few entrepreneurs have aspired to create a cannabis strain specifically bred to inspire creative thought. A new cannabis brand called Gen!us hopes to change that with the introduction of a line of cannabis products aimed at stoking the fires of innovation.

Touting a team of researchers, microbiologists, chemists, engineers, and veterans cannabis cultivators; Gen!us owns its own cultivation, manufacturing, and extraction facilities and has plans to open a boutique dispensary on Melrose Ave. in Los Angeles this September.

While other brands, like Ebbu, aim to invoke emotional states like relaxation or productivity, this new line of cannabis seeks to help its users think outside the box and “unlock the genius stream.” The brand was founded by lifelong entrepreneur Chris Clifford, who started his first business in his dorm room at age 17.

“Cannabis has fueled some of the world’s most gifted innovators and artists in their creations. They inspire us to create cannabis on their level,” Clifford said in a statement announcing the brand’s launch.

Although Gen!us is relatively new, the brand has already gained traction online, with the likes of Cypress Hill and Lil John Roberts sharing the company’s #CannabisForCreatives online.

Currently, Gen!us has four categories of products; including Indica, Sativa, Hybrid, and CBD. Indica strains include OG Kush, Josh D OG, Larry OG, Grand Daddy Purple, and Gelato. Sativa-based Gen!us strains include Green Crack, Orange Tree, Rollins, and Orange Zkittles. The strands that balance THC/CBD ratios are Do-Si-Do, Lemon Fuel, Banana Fig, Birthday Cake, Strawna, and Thin Mint. Gen!us features a single CBD-based strand, called ACDC, which is available only in vaporizer form.



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


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