Green Growth Brands Archives - Green Market Report

William SumnerWilliam SumnerAugust 23, 2019
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4min3920

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 15, 2019
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7min5400

It’s time for your Daily Hit of cannabis financial news for August 15, 2019.

On the Site

Trulieve

Yesterday, Trulieve Cannabis Corp. (OTCMKTS: TCNNF) (CNSX: TRUL) announced the release of its second quarter financial results. Year-over-year, Trulieve’s increased 149% from $23.3 million to $57.9 million. Keeping pace with revenue, operating expenses also rose from $6 million to 14.8 million, representing a 146% increase. Gross profit was $37.6 million, and the gross profit margin was 65%. Adjusted EBITDA was $31.6 million.

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) has reported its financial results for the second quarter, ending on June 30, 2019. Revenue rose from $19.2 million in the previous quarter to $26.6 million, representing an increase of 39%. If one were to include Harvest Health’s completed and pending acquisitions, quarterly revenue would be $78 million.

Money Moves From Aurora Cannabis, Green Growth Brands

Aurora Cannabis Inc.  (NYSE | TSX: ACB) said that it has secured commitments from an expanded syndicate of lenders led by the Bank of Montreal to amend and upsize its existing C$200 million secured credit facility.

Green Growth Brands Inc. (CSE:GGB) (OTCQB:GGBXF) said that it has entered into backstop commitment letters with each of All Js Greenspace LLC, Park Lane Capital Limited, and Chiron Ventures Inc. in which they have committed to subscribe for and purchase up to C$102,796,241 in the aggregate or roughly $77 million of convertible debentures to support the Company’s operations and capital needs.

Canopy Growth

Canopy Growth Corporation  (TSX: WEED) (NYSE: CGC) stock dropped over 10% after the company announced its financial results for the first quarter ending June 30, 2019. The worst of the news in the release was that the company’s fiscal first-quarter net losses of C$1.28 billion, or C$3.70 a share, dwarfed last year’s losses of C$91 million, or 40 cents a share. The loss was attributed to a non-cash charge of $1.2 billion in Canopy’s extinguishing warrants related to the Constellation Brands Inc. (NYSE: STZ) investment.

In Other News

Vireo Health

Vireo Health International, Inc. (CNSX: VREO) (OTCQX: VREOF) announced that its affiliate, Ohio Medical Solutions (OMS), has been granted a Certificate of Operation by the Ohio Department of Commerce. OMS, which was previously granted a provisional processing license, will begin operations immediately. The license will allow OMS to purchase plant material from cultivators and manufacture Vireo-branded medical cannabis products.  “We are delighted that Ohio Medical Solutions will begin manufacturing Vireo products for the benefit of Ohio patients,” said Vireo CEO, Kyle Kingsley, M.D. “The City of Akron has been great to us and as our business grows, we look forward to continuing to create new jobs and make a positive impact on the local economy.”

Front Range Biosciences

Front Range Biosciences (FRB) announced that it has entered a collaborative licensing agreement with Steep Hill, and that it will acquire Steep Hill’s Genomics Research & Development team. The agreement will help accelerate FRB’s marker-assisted breeding program and develop new traits and varieties of hemp and cannabis. “The Steep Hill R&D team is among the top three cannabis genomics groups in the world, and we are very excited to welcome them to FRB,” said Dr. Jonathan Vaught, CEO and Co-Founder of FRB. “This acquisition is a major value inflection point for FRB…”

Medical Marijuana Inc.

Medical Marijuana Inc. has filed its financial results for the second quarter. Revenue rose 30.8% to $20.7 million. Gross profit was $15.4 million and adjusted EBITDA was $1.5 million. General and administrative expenses decreased from 21% of sales in Q2 2018 to 16% of sales revenue. “We are excited to continue our tremendous sequential success with the second quarter of 2019 proving to be the largest sales revenue quarter in the history of our Company,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “As the world continues to become more receptive to learning about the benefits of hemp-derived CBD, we are enthusiastic about being at the forefront of the global cannabis industry which, according to Arcview Market Research, could be worth $57 billion by 2027.”


Debra BorchardtDebra BorchardtAugust 15, 2019
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3min8410

Aurora Cannabis

Aurora Cannabis Inc.  (NYSE | TSX: ACB) said that it has secured commitments from an expanded syndicate of lenders led by the Bank of Montreal to amend and upsize its existing C$200 million secured credit facility.

The company said that its amended secured credit facility will consist of an additional C$160 million allocated between both term loans and a revolving credit facility, both of which will mature in August 2021. The credit facility will have a first ranking general security interest in the assets of Aurora. The loans can be repaid without penalty at Aurora’s discretion.

“The upsizing of our credit facility to approximately C$360 million and the broadening of the lending syndicate to include additional Schedule 1 Canadian Banks is further recognition that our best-in-class production facilities lead the industry,” said Glen Ibbott, CFO of Aurora.  “Access to this non-dilutive capital is a core funding source the Company intends to utilize as it further executes on its strategic growth initiatives. In addition to cash being generated from operations, the Company also has access to other unsecured debt alternatives, a number of equity investments, and has access to a C$514 million (US$400 million) At-The-Market equity program (“ATM”).”

Green Growth Brands

Green Growth Brands Inc. (CSE:GGB) (OTCQB:GGBXF) said that it has entered into backstop commitment letters with each of All Js Greenspace LLC, Park Lane Capital Limited, and Chiron Ventures Inc. in which they have committed to subscribe for and purchase up to C$102,796,241 in the aggregate or roughly $77 million of convertible debentures to support the Company’s operations and capital needs.

In addition,  Green Growth said that it is having discussions and has signed a letter of intent with United Capital Partners LLC to obtain additional debt financing of up to $50 million. If secured, it is anticipated that the Proposed Debt Financing would be used by Green Growth to fund, in part, the company’s presently identified capital and operating expenditures related to the opening of new dispensaries, new mall-based CBD kiosk shops and the acquisition or build-out of a cultivation facility in Florida.


William SumnerWilliam SumnerJuly 24, 2019
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4min2490

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

On the Site

Executive Spotlight: Nick Ortega, Co-Founder & CEO of Claybourne Industries

Nick Ortega is the Co-Founder and CEO of Claybourne Industries, a cultivator and distributor specializing in growing brands throughout California. Claybourne’s house brand, Claybourne Co, is known for its innovative flower products such as The Claybourne Power PackTM and the Claybourne Top Shelf 1oz jar.

Fire & Flower Holdings

You may not be able to purchase cannabis from your local gas station, but that hasn’t stopped the international convenience store chain Alimentation Couche-Tard (TSX: ATD.A ATD.B) from staking a claim in the industry. Today it was announced that the company would purchase a stake in Fire & Flower Holdings Corp. (TSXV: FAF) $25.9 million.

80% Of Vape Products Could Be Fakes

In a time of designer bags, jewelry, shoes, and a slew of other consumer goods being knocked off, the cannabis industry has also fallen victim to counterfeit products. Imagine going into what you believe is a legitimate cannabis dispensary or online shop and being sold what you think is a King Pen, Brass Knuckles, or Heavy Hitter vape, only to find that in comparison to what you’re inhaling, “you’re better chewing on lead paint.”

In Other News

Curaleaf

In the wake of the news that Curaleaf Holdings (OTCMKTS: CURLF) had received a warning letter from the United States Food and Drug Administration over “unsubstantiated health claims,” the national pharmacy retailer CVS has announced that they will no longer sell Curaleaf products. In a statement, Mike DeAngelis, CVS’ senior director, corporate communications, said that the company has no plans to resume selling Curaleaf products once they are pulled from the shelves. In response to the FDA letter, Curaleaf representatives say that the company “will work collaboratively with the FDA to resolve all issues addressed in the agency’s letter.”

Green Growth Brands

Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) announced that it had raised C$50.2 million in a bought deal offering led by Canaccord Genuity Corp. At C$2.45 per unit, Green Growth Brands sold 20.5 million units of the company. Each unit is comprised of one common share and half of one common share purchase warrant. The company has also extended to the underwriters an over-allotment option to purchase an additional 3,075,000 units at the offering price, totaling C$7.53 million. The closing is expected to close on August 21, 2019.


William SumnerWilliam SumnerJuly 11, 2019
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5min4710

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

On the Site

Bhang Corporation

Cannabis edible company known for its chocolates Bhang Corporation (CSE: BHNG) began trading on the Canadian Securities Exchange as Bhang Inc. under the stock symbol “BHNG” on July 11, 2019. “We’re proud to announce this major milestone for Bhang and the industry, as we see a national cannabis brand begin trading on the CSE. This public listing fuels our strategy to meet the growing demand for today’s most innovative cannabis products,” Scott Van Rixel, CEO of Bhang, said.

California Cannabis Contract Conundrums For Lawyers

We were prompted to write this article by the juxtaposition of two articles republished by Cannabis Business Executive in its July 4th Edition. The title of the first article, The Top 5 Most Dangerous Cannabis Contracts in California, caught our eye. We were intrigued by the title. What is a “dangerous” contract?

Executive Spotlight: Antonio Frazier, Director of Operations for CannaSafe

Antonio Frazier is the Director of Operations at CannaSafe, the first ISO licensed cannabis lab in the world and the leading marketshare holder in California. He met CannaSafe President, Aaron Riley, while playing football together at Furman University, where he earned a Bachelor of Science degree; he also holds a B.S. in Materials Engineering from Clemson.

In Other News

Demetrix

The biotechnology company Demetrix Inc. announced that it had raised $50 million in Series A funding. The company specializes in the production of CBD through fermentation, using bakers’ yeast to help accelerate cannabinoid production. Tuatara Capital led the fundraise and included investors from Horizons Ventures, who led Demetrix’s previous $11 million Series Seed round. Demetrix plans on using the funds to scale its operations.

Trulieve

Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF) announced that its company founders have voluntarily entered into a lock-up agreement. Representing 65,253,093 subordinate voting shares of the company (59.25%), shareholders have agreed that they will not sell or offer to sell their shares on or before July 25, 2020. On January 25, 2020, an additional 15%, or 11,205,960, of the subordinate voting shares will be released from the lockup. According to Trulieve CEO Kim Rivers, the lock-up will help increase shareholder value. “This extension of the lock-up period demonstrates the continued confidence the company founders have in the execution of our long-term strategy,” Rivers said.

Green Growth Brands

Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) announced that it had reached a deal with American Eagle Outfitters to sell hemp-based CBD infused products in nearly 500 of the retail clothing brand’s stores, as well as its online store. The products will be specifically designed for the American Eagle brand, and sales are expected to begin sometime in October 2019.

Supreme

The Supreme Cannabis Company, Inc. announced today that the Supreme Court of British Columbia had approved its acquisition of Blissco Cannabis Corp. The arrangement will close on July 12, 2019, upon which Supreme will acquire all of Blissco’s issued and outstanding common shares. “With the closing of this acquisition, Supreme Cannabis will expand its portfolio to include a consumer focused brand that specializes in products for the premium global wellness category,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “In addition to gaining an established wellness brand, Supreme Cannabis will acquire Blissco’s facility built to EU GMP standards that has been extracting oils for the Canadian market since August 2018.”


William SumnerWilliam SumnerJuly 9, 2019
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5min4060

It’s time for your Daily Hit of cannabis financial news for July 9, 2019.

On the Site

Caliva

Shawn “JAY-Z” Carter announced online today that he will enter into a multi-year partnership with Caliva as Chief Brand Strategist. The statement said that he will play a crucial role in driving creative direction, outreach efforts, and strategy for the brand. Caliva is one of the largest vertically integrated cannabis companies in California and has quickly become a market leader in cannabis consumer products in the state.

Radient Technologies

Cannabis and hemp extractor Radient Technologies Inc. (TSXV: RTI)(OTCQX: RDDTF) reported that the company lost C$18 million in its financial results for the fiscal year ending March 31, 2019.The company only reported revenues of C$214,060 for the year and expenses of C$18,319,167. The cost for that revenue was C$131,249. On a positive note, the company’s cash balance at the end of its fiscal year totaled C$31,752,852, representing an increase of $9,897,548 from March 31, 2018.

Executive Spotlight: Erin Gore, Founder & CEO of Garden Society

Erin Gore is founder and CEO of Garden Society, a California-based, cannabis-focused benefit corporation serving women in search of new, more holistic ways to rejuvenate from the rigors of their daily lives. Garden Society creates artisanal confections and sun-grown pre-rolls that connects biodynamic farming, sustainable ingredients and strain-specific cannabis in a variety of products.

Green Growth Brands

Cannabis retailer Green Growth Brands Inc. (CSE: GGB)(OTCQB: GGBXF) is acquiring MXY Holdings LLC also known as Moxie in an all-stock deal valued at $310 million. The deal is expected to close within six months. Moxie is located in three states at this time, California, Nevada, and Pennsylvania. Michigan is set to be the fourth state. The products are in 250 dispensaries, which is a retail relationship that GGB would like to leverage.  Moxie provides customers with high-quality recreational and medical cannabis products.

In Other News

Surterra Wellness

The medical cannabis provider Surterra Wellness announced today that it has appointed Fareed Khan as Chief Financial Officer (CFO), who will be responsible for corporate finance, investor relations, tax and shared services activities. Formerly serving as the CFO for the Kellogg Company, Khan helped drive the company’s corporate strategy to include revitalizing key brands through targeted investment and transforming the company’s portfolio through mergers and acquisitions. “Fareed’s track record of translating strategy into initiatives that drive growth for both private and public companies, across a number of industries, will propel our continued success,” said  Surterra CEO and Chairman  William “Beau” Wrigley, Jr.

KushCo Holdings

KushCo Holdings, Inc. (OTCQX: KSHB) announced today its financial results for the third quarter ending on May 31, 2019. Net revenue was $41.5 million, representing a quarter-over-quarter increase of 17.9%.On a GAAP basis, gross profit was 17.8%. On a GAAP basis, the net loss was $10.6 million, up from $9.2 million in the same period of the previous year. Cash on hand is approximately $12.2 million.  “We expect demand to increase for the Company’s core product offerings as the cannabis and hemp markets continue to expand and mature. Our customer base is gaining strength with the largest multi-state operators and Canadian LP’s starting to scale in existing markets, while also preparing for growth in new emerging geographies – including recently approved Illinois,” said KushCo Chairman and CEO Nick Kovacevich.


Debra BorchardtDebra BorchardtJuly 9, 2019
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5min12390

Cannabis retailer Green Growth Brands Inc. (CSE: GGB)(OTCQB: GGBXF) is acquiring MXY Holdings LLC also known as Moxie in an all-stock deal valued at $310 million. The deal is expected to close within six months.

Moxie

Moxie is located in three states at this time, California, Nevada, and Pennsylvania. Michigan is set to be the fourth state. The products are in 250 dispensaries, which is a retail relationship that GGB would like to leverage.  Moxie provides customers with high-quality recreational and medical cannabis products.  Moxie offers live resin vape cartridges, CBD vape cartridges, liquid Moxie vape cartridges, and pre-rolled joints.

Green Growth said that the combination of Moxie and GGB would create one of the first cannabis companies to provide consumers a comprehensive product offering, including both CBD and tetrahydrocannabinol (THC) product lines and distribution that run from mainstream retail to cannabis dispensaries, all led by management with decades of expertise and credibility.

“In the short time since we began operations, we have built a business comprised of highly experienced management and merchant teams and cannabis experts, who have created successful CBD and MSO businesses. The coming together of Moxie and Green Growth Brands is anticipated to complete the circle,” said Peter Horvath, CEO of Green Growth Brands.  “As a ‘360 degree’ cannabis company, we expect to bring an expertise to each segment of the combined business: cannabis dispensaries, vertically-integrated and wholesale CBD and wholesale cannabis consumer products.”

Terms

A new Ontario limited partnership will be formed and GGB will be the general partner who will acquire the operating companies of GGB and the issued and outstanding units of Moxie, an arm’s length third party, in an all-equity interest transaction.  As part of the deal, GGB will also be directly acquiring shares of MXY C, INC. and MXY D, INC. Delaware entities within the Moxie structure, and interests in two entities, PurePenn LLC and Pure CA, LLC, with which Moxie has current acquisition agreements.

If Moxie terminates the deal, there is a $10 million fee. If GGB terminates the deal, there is a $17.5 million fee.

“The pairing between Moxie and Green Growth Brands is anticipated to accelerate growth for both businesses that results in a differentiated and expansive business model,” said Jordan Lams, Co-Founder and CEO of Moxie. “Moxie’s success comes from keeping our promise of delivering premium quality products to our consumers that creates an emotional connection with Moxie across multiple geographies. Both companies have proven track records of building customer loyalty through authenticity, and together, we are going to focus on taking steps to rapidly grow America’s mainstream cannabis brands.”

Green Growth’s Growth Plans

The Moxie acquisition is part of GGB’s focused growth strategy.  GGB is rapidly building its cannabidiol (CBD) business, including recently securing additional distribution through Designer Brands Inc., the parent company of DSW shoe stores (NYSE: DBI) and Abercrombie & Fitch Co. (NYSE: ANF), and is expanding its footprint of Seventh Sense Botanical Therapy shops from the current 61 to an expected 200+ by the end of calendar year 2019.  GGB is also building its MSO network, which now includes the potential for up to 47 dispensary licenses in three key states.

Moxie is recognized by its peers in cannabis, winning close to 100 industry awards over the years, including Brand of the Year at the 2018 California Cannabis Association Awards. Moxie’s newest product, the DART vaporizer, won first place at the recent 2019 High Times SoCal Cannabis Cup with its Piña Colada flavor. Jordan Lams was named 100 Most Influential People In Cannabis by High Times two years running,


William SumnerWilliam SumnerJune 27, 2019
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4min6030

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

On the Site

Green Growth Brands

After a trial period of selling the Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) CBD line called Seventh Sense Botanical Therapy products, Abercrombie & Fitch (A&F) has decided to carry the products in 160 stores. The expansion includes Seventh Sense’s CBD-infused body lotions, muscle balms, lip balms, and sugar scrubs, and is Green Growth Brands’ second major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018.

Executive Spotlight: Dr. Jared Helfant, Co-Founder and President of Sparx Cannabis

At Sparx, Dr. Helfant applies his expertise to oversee operations, branding, and marketing. With a proven track record of providing top-tier, customer-facing services and long-term strategic planning, his knowledge helps facilitate budget analysis, marketing strategies, and partner relationships.

In Other News

Surterra Wellness

The medical cannabis company Surterra Wellness announced that it had closed a $100 million Series D funding round. So far, the company has raised over $300 million in private capital. Proceeds from the funding will go towards expansion initiatives such as strategic acquisitions and infrastructure capital expenditures. Surterra also announced that it had expanded its board of directors to include Ed Brown, Surterra’s Executive Director, and its Executive of Operations, Kevin Fisher.

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced today that it had acquired both Glendale Greenhouse and Phytotherapeutics Management Services, LLC. Glendale Greenhouse is a vertically integrated cannabis business operating a cultivation and processing facility with a 20,000 square foot production facility capable of producing 3,600 pounds of flower annually. Glendale also owns a 1,500 square-foot dispensary and the master lease on the 15,000 square-foot multi-tenant building where the dispensary is located. Phytotherapeutics Management Services, LLC operates under the license of Phytotherapeutics of Tucson, LLC. Once the transaction is closed, the Phytotherapeutics’ license would be transferred to Curaleaf and apply to a newly developed, flagship dispensary.

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA:ARAH) has closed a $40.25 million over-subscribed public offering. Leading the offering was Mackie Research Capital Corporation and BMO Capital Markets, and included Canaccord Genuity Corp. “We are excited to close this financing and strengthen our balance sheet as we solidify and accelerate the expansion of our cannabis health and wellness ecosystem, in Canada, and globally,” said Aleafia Health CEO, Geoffrey Benic. “This is a key step enabling management to execute on its business plan and to drive operational results creating value for shareholders.”


Debra BorchardtDebra BorchardtJune 27, 2019
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5min9420

After a trial period of selling the Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) CBD line called Seventh Sense Botanical Therapy products, Abercrombie & Fitch (A&F) has decided to carryrcrombie.com the products in 160 stores.

“Abercrombie & Fitch understands how to connect with their target-customer, not just in the U.S. but across the globe,” said Green Growth Brands CEO, Peter Horvath. “They have incredible brand recognition in our current target markets and beyond, and we are excited at the prospect of building our partnership together.”

The expansion includes Seventh Sense’s CBD-infused body lotions, muscle balms, lip balms, and sugar scrubs, and is Green Growth Brands’ second major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018. Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.

Mall Takeover

Just two weeks ago, GGB said it plans to have over 70 shops at Brookfield Properties’ (BPY) shopping centers throughout the United States and that it will have approximately 280 stores by the end of the year. “Brookfield Properties operates some of the most exciting and visited malls in the country, and we are thrilled to introduce our CBD shops to their centers,” Peter Horvath, CEO of Green Growth Brands, said in a statement. Currently, there are seven GGB shops within the Brookfield Properties’ portfolio.
The first Seventh Sense shop opened in mid-February, and, since that time, GGB has continued to open its Seventh Sense shops with blistering speed. “This rapid rollout across the U.S. is truly unprecedented,” said Peter Horvath, CEO of Green Growth Brands. “We expect to open over 200 shops this year and are confident that we are building one of the largest and most valuable distribution networks for CBD.”
New CMO
This comes on the heels of the hiring of Jann Parish as Chief Marketing Officer (CMO). Parish was once the CMO of Victoria’s Secret. Prior to Victoria’s Secret, Parish was with PVH Corporation, working with global brands Calvin Klein and Tommy Hilfiger in a variety of leadership roles. While at Calvin Klein, she led the re-positioning of the Calvin Klein brand, most notably shifting the brand voice and marketing content to appeal to the millennial consumer.
Jann Parish, Chief Marketing Officer of Green Growth Brands (CNW Group/Green Growth Brands)

“As GGB continues rapid expansion in both the CBD and MSO segments, we are delighted to be bringing Jann, a proven consumer marketing expert, onboard,” said Peter Horvath , CEO of Green Growth Brands. “Jann is a master at positioning brands to resonate with consumers. As we scale our portfolio of brands, I am confident that under her leadership we will be differentiated from the competition.  We are so pleased to welcome Jann to the team.”


William SumnerWilliam SumnerJune 4, 2019
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4min3390

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

On the Site

FDA Holds Public Hearing on Regulating CBD

Last week, the U.S. Food and Drug Administration (FDA) held its first public hearing on regulating cannabidiol (CBD). Over the last several years, CBD has been growing in popularity as a health and wellness product. That popularity has only been amplified by the passage of the 2018 Farm Bill, which removed hemp and hemp-derived products (CBD included) from the federal government’s list of controlled substances. At stake in these hearings is a potentially billion-dollar market. According to Brightfield Group, the CBD market could grow to as high as $22 billion by 2022.

Green Growth Brands

Green Growth Brands, Inc. (GGB.CN) (GGBXF) has announced that it has executed an arm’s length definitive agreement to acquire all issued and outstanding shares of Spring Oaks Greenhouses (Spring Oaks) for approximately $54.6 million. Spring Oaks is a licensed medical cannabis provider in the state of Florida.

In Other News

DionyMed Brands

DionyMed Brands Inc. (CSE: DYME) (OTCQB: DYMEF) has announced its financial results for the quarter ending on March 31, 2019. Quarter-over-quarter, revenue rose from $5.5 million to $14.4 million. Adjusted EBITDA was a loss of $6 million, which the company attributes to increasing platform costs to support its continued growth activities. The net loss for the period was $1.03 million. “Our continued growth, both financial and operational, is a direct result of our ability to deliver today’s leading cannabis brands to consumers through the industry’s most efficient cannabis brands platform. Our first quarter financial results demonstrate the success of our efforts to scale our Direct-to-Consumer and retail distribution businesses through organic growth initiatives,” said DionyMed CEO Edward Fields.

Fire & Flower

Fire & Flower Holdings Corp. (TSXV:FAF) announced that it has entered into a letter of engagement with Eight Capital, pursuant to which Eight Capital and GMP Securities L.P. will purchase, as co-lead underwriters and joint bookrunners, 15 million convertible debenture units of the company for $15 million. A single unit consists of one $1,000 principal amount unsecured convertible debenture and 278 common share purchase warrants. Each warrant entitles the holder to purchase one common share of the company, for up to 24 months following the closing period, at a price of $1.45 per share. The company will use the proceeds from the offering for working capital and general corporate purposes.



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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