Hawthorne Archives - Green Market Report

Debra BorchardtFebruary 23, 2023
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3min7830

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) settled its conflict with JW Asset Management LLC (JWAM) related to the company’s acquisition of New York medical cannabis operator Etain. JWAM had complained about the purchase price paid for Etain by Riv Capital.

Etain Settlement

RIV Capital has repurchased for cancellation all RIV Capital Class A common shares currently owned or controlled by JWAM and its affiliates, amounting to 33,733,334 shares, for an aggregate purchase price of $19,625,000. RIV Capital also reimbursed certain legal expenses incurred by JWAM as part of its application and related matters in the amount of $375,000.

RIV Capital funded such amounts with cash on hand. As part of the settlement, JWAM and its affiliated funds have also withdrawn their requisition for a special meeting of the company’s shareholders currently scheduled for June 6, which meeting will be canceled by the company.

JWAM sought a remedy requiring the JWAM Shares to be repurchased by the company at a price of C$1.65 (US$1.22) per share. This math works out to US$0.58 per share.

“I am glad to have reached a mutually beneficial agreement that enables both parties to move forward in a positive manner,” said Mark Sims, director, president, and chief executive officer of RIV Capital. “In our view, our share price simply does not reflect the intrinsic value of our unique assets – industry-leading liquidity, reputable strategic partner, and vertical license in New York.

“Our board of directors, on the recommendation of the Conflicts Review Committee, which is comprised solely of independent directors, determined that this settlement is in the best interest of the company, as it mitigates the risks associated with the application and the remedies sought by JWAM,” Sims continued. “Now that these claims have been resolved, we can focus on continuing to operationalize New York, in addition to exploring a range of opportunities inside and outside of New York as we seek to build our platform going forward.”

Hawthorne Settlement

The Hawthorne Collective Inc. owned by Scott’s Miracle-Gro (NYSE: SMG), also said it settled its conflict with JWAM and Jason Wild.

According to the statement, Jason Wild and JWAM have agreed, among other things, not to take any action that would interfere with The Hawthorne Collective’s agreements with the company or any rights set forth in those agreements.


Debra BorchardtAugust 3, 2022
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5min7031

The Scotts Miracle-Gro Company (NYSE: SMG) saw its shares pop in early trading despite the gardening company’s downbeat earnings. The lawn care and hydroponic company released its results for the third quarter ending July 2, 2022, with sales falling by 26 % on declines in both major business segments to $1.19 billion. This missed the Yahoo Finance average analyst estimate for sales of $1.23 billion.

U.S. Consumer segment sales declined 14 %  to $904.5 million from $1.05 billion. The hydroponic group called Hawthorne said sales decreased 63% to $154.5 million compared with $421.9 million during the same period last year.

Scotts reported a GAAP net loss per share of $8.01, which includes pre-tax impairment and restructuring charges of $724.2 million. Non-GAAP adjusted earnings per share, which is the basis of the Company’s guidance, was $1.98. On a positive note, SG&A decreased 30% to $135.8 million due to lower accruals for annual incentive compensation and cost-reduction efforts.

CEO Jim Hagedorn said, “While consumer purchases are down 8 percent in units year-to-date, that performance is in line with the guidance we laid out at the beginning of the year. We are extremely encouraged that consumer purchases in May and June were at near-record levels, once again showing the resiliency of the category. Unfortunately, shipments to our retailer partners did not keep pace with consumer demand, as retailers in all channels took steps to lower their own inventory levels.”

He added, “The lower-than-expected sales in our U.S. Consumer segment, combined with continued pressure on Hawthorne sales due to oversupply issues in the cannabis industry, leave us unsatisfied with our financial results and with higher leverage than we want to maintain. That is why we have launched the business transformation effort we are calling Project Springboard, which includes a series of aggressive steps to return the business to an appropriate level of performance.

GAAP loss from continuing operations was $217.5 million, or $3.91 per share, compared with income of $566.0 million, or $9.90 per share, in the prior year. Non-GAAP adjusted earnings, which exclude impairment, restructuring, and other non-recurring items, were $343.3 million, or $6.11 per diluted share, compared with $573.1 million, or $10.04 per diluted share last year.

Hawthorne

Hawthorne segment sales decreased 63 percent to $154.5 million compared with $421.9 million during the same period last year. Year-to-date Hawthorne sales decreased 50% to $547.7 million. Some of the company’s losses stemmed from Hawthorne, which saw impairment charges of $632.4 million related to goodwill and certain intangible assets in the segment. Scotts said it took inventory write-down charges of $45.9 million with its decision to discontinue and exit the market for certain lighting products and brands.

Looking Ahead

Scotts dropped its full-year sales guidance in the U.S. Consumer segment due to lower-than-expected replenishment orders from retail partners. The company said it now expects sales to decline 8 to 9%. The company also said it expects further SG&A favorability and is now guiding full-year SG&A down 15%. As a result of these changes, the full-year adjusted EPS outlook is now expected to be $4.00 to $4.20.

“Our guidance in early June accounted for the reduction in May replenishment orders that we saw at our largest customers,” Miller said. “However, retail inventory reduction efforts have accelerated throughout June and July, driving a larger decline in our full-year sales expectation. The outlook for SG&A has improved from the previous guidance we communicated in June. The Project Springboard team achieved the initial cost savings target and identified additional opportunities to reduce spending across the business.”


StaffMay 23, 2022
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5min2830

The Daily Hit is a recap of the top cannabis business stories for May 23, 2022.

ON THE SITE

Live Blog from WEF 2022 in Davos Switzerland

Green Market Report editor-in-chief Debra Borchardt blogs live from the Medical Psychedelics Series, at the World Economic Forum being held in Davos Switzerland. Read more here.

Medical Psychedelics Series in Davos

Every year world leaders come together to discuss the global economy at the World Economic Forum’s annual gathering in Davos Switzerland. This small town in the Alps has become the place where the smartest people on the planet come together to discuss solutions to the world’s economic problems and issues. It is not uncommon for various industries to establish a meeting place for people to come together for conversations. Read more here.

Hawthorne and the Hydroponics Market

When we look at what’s happening in the hydroponics market, it’s really not just a Hawthorne issue, it’s across the board. All these companies were saying things had slowed down, but that the market was going to get better at the end of the year. We weren’t getting a whole lot of color on what was happening. Is it that certain states were slow to get going? Is it that there was just truly oversupply? There are so many reasons why this slowdown could have happened. What’s happening here? Read more here.

Decriminalizing Psychedelics

There has been an accelerating movement to decriminalize psychedelics, especially psilocybin, since May 2019, when Denver, Colorado became the first city in the country to decriminalize psilocybin through an initiative, in essence handing a small but significant defeat to the operatives running the War on Drugs. Read more here.

NY Approves 146 Cannabis Farmers

The New York Cannabis Control Board announced on Thursday that an additional 58 farmers for adult-use cannabis have been approved. This brings the total of approved farmers to 146. The NYCCB initially approved 52 farmers in April and then gave the green light to another 36 at the May 5 meeting. People hoping to get these licenses were able to begin applying on March 15 and the opportunity will end on June 30. Read more here.

GMR Women’s Summit (VIDEO)

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This successful sold-out event was the first in-person Summit for GMR since before the pandemic. More here.

IN OTHER NEWS

Boston Beer Company

The Boston Beer Company, Inc. (NYSE: SAM), maker of iconic, high-quality brands such as Samuel Adams, Truly Hard Seltzer and Twisted Tea, today announced the launch of TeaPot, a new line of cannabis-infused iced teas. TeaPot is the company’s first infused beverage offering and will be available in select Canadian provinces beginning in July. Read more here.

4Front Ventures Corp.

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the first quarter ended March 31, 2022. All financial information is presented in U.S. dollars unless otherwise indicated.

“Our business inflected during the first quarter of 2022 as a result of the investments and efficiencies we made over the last 18 months to meet our long-term strategic goals,” said Leo Gontmakher, Chief Executive Officer of 4Front. Read more here.


Debra BorchardtMay 23, 2022
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24min6100

Editors note: This interview has been edited.

Green Market Report Executive Editor Debra Borchardt: 

When we look at what’s happening in the hydroponics market, it’s really not just a Hawthorne issue, it’s across the board. All these companies were saying things had slowed down, but that the market was going to get better at the end of the year. We weren’t getting a whole lot of color on what was happening. Is it that certain states were slow to get going? Is it that there was just truly oversupply? There are so many reasons why this slowdown could have happened. What’s happening here?

Chris Hagedorn, Division President of Hawthorne Hydroponics (NYSE: SMG)

It’s not any one specific discrete issue. I think it’s a combination of, and just some really poor timing. So if you look back at the history of cannabis and wholesale cannabis pricing, to the extent that we have a sort of a dependable history on that data, which obviously I think you know is relatively hard to come by in this industry, certainly compared to more normal mainstream and kind of, historically tracked industries

If you look back at the wholesale data, there is kind of a cyclical nature where the wholesale price will get kind of overcooked and that’ll sort of compell a bunch of people to start growing or increase in their capacity that in turn will drive, then you’ll start to see capacity or supply begin to outstrip demand. And then you end up in a trough-like we’re in. So we’re seeing that. hat’s nothing new to the industry.  That’s happened every four or five years, as far as we can tell kind of as far back as we can track it.

If you look back over a 10-year period or so, you see it again. It happens in this kind of wave pattern, which is again, not unusual. I think what’s amplified a bit this year is again, it’s a few things. Part of it is oversupply and that’s at the national level. Also, I think we were tracking growth in Oklahoma over the past few years that was triple or quadruple-digit in our business. 

We’re seeing our business in Oklahoma grow by a thousand percent quarter over quarter. Obviously, that’s not growth that’s sustainable. I think one of the things that we didn’t count on, because we thought the disruption that this industry saw back in 2018, which was largely in our estimation driven by California’s move from prop 215 to prop 64. We sort of told ourselves, that California is by far, the biggest candidate market. Our biggest market at the time as it was over 50% of our business.

What we did not count on was the shift towards Oklahoma, not only for the legal but for illicit growers as well. That was something that we didn’t fully understand. I think it boils down to a few different things. There was the permissibility of the regulatory market there, which is similar to what we saw in places like Oregon and Washington back in 2018, just a really low barrier to entry, so a lot of growers flowing into the state and setting up their operations. What we really didn’t understand and it’s one of those things, like a lot of things that seems kind of intuitively obvious in hindsight, but at the front end was just something we missed, was the scale of the grows in Oklahoma.

I’m talking large outdoor grows in Oklahoma that covers five or 10 acres, whereas illicit grows in California on a hillside up in Humboldt, it’s an acre or two at most. So these grows in Oklahoma, just the scale of them is kind of in the orders of magnitudes larger. So the amount of cannabis that was flowing into the marketplace was causing wholesale prices to trend in a negative direction. Probably about this time last year we started to say, okay, we’re seeing potential storm clouds on the horizon and sure enough kind of those bore out. 

Green Market Report:

So you think that this illicit cannabis was going to all the other markets?

Chris Hagedorn, Hawthorne:

Yeah. I think a ton of that product, whether it was initially grown for the legal market and was diverted, or it was grown from inception for the illicit market, I am firmly a believer that that product has flowed outing nationally and it has crushed the wholesale pricing.

Green Market Report:

We knew a lot of the Oregon illicit product was in New York. That was pretty easy to ask people and was, well anecdotally documented, because that’s the only way you can track any of this is, anecdotally asking people.

Chris Hagedorn, Hawthorne:

T your point, we have the same experience that when one considered hard concrete data is, as I said, hard to come by here, the anecdotal information that we’ve gathered says, “Yeah, the Oklahoma market has been a big source of this.” They’re not alone. California, certainly there were some large newer, large outdoor grows there. California had and we’ve talked about this. I think we’ve talked about it publicly, but if not it’s nothing secret.

Green Market Report:

Well in Oregon, everybody knew Oregon was way oversupplied and they just were selling for pennies on the dollar to just unload product.

Chris Hagedorn, Hawthorne:

Exactly, trying to move product.  I think there are other things that have amplified the downturn. So there’s this flood of material. When you look at a state like Michigan, which is our second biggest market for Hawthorne by a pretty good margin. The legislature up there was considering changing the caregiver laws pretty dramatically and I think moving the plant count from like 75 down to like 20 or 25, I don’t have the exact numbers. Now that did not end up taking place. But again, the information that we’ve gathered says there was so much momentum and that it still could happen, but there was so much momentum and noise in the state about putting severe restrictions on the caregiver market there, that a lot of folks just pulled back on investments thinking we’re not going to build new cultivation capacity. We’re just going to kind of slow things until we understand how the market for the caregivers is going to shake out in Michigan. That put a damper on investment, which obviously flows back to us for all the infrastructure items we sell, like lights and dehumidifiers and everything.

Then on top of that, there’s obviously the macro overlay of the federal government that just cannot get off its ass and actually move this issue forward. I think everyone expected with the Democrats controlling kind of all three levels between the White House, Senate, and Congress, that they would seize the opportunity to move this thing forward. They haven’t done it, which is extremely frustrating.

For investors, I think it said, “Look, they’re going to lose at least one side of the house, if not both at the midterms.” We shouldn’t have any faith that the Republicans are going to take this, though honestly, as a sort of disillusioned independent, I don’t understand why either party doesn’t just seize this as a political silver bullet, but they haven’t. So I think at the macro level for kind of institutional level investors, there’s just, there’s no enthusiasm right now because the federal government’s not doing anything to help. 

Green Market Report:

Do you think that as New York progresses in its program decision making, there might be opportunities there because I know not so much New Jersey, but definitely New York, they’re trying to really tap into the small grower market. They have these micro licenses that they’re offering, which is kind of appealing to a lot of the smaller people that don’t have big money, like some of these MSOs, some of the legacy people, or do you think that’s just not going to ever really develop into any kind of sizable market?

Chris Hagedorn, Hawthorne:

I do. I think you’re going to see some large-scale cultivators obviously sort of taking a claim for themselves and hopefully doing it right. It’s one of the issues that I’ve had with a lot of kind of large scale. I say this at the risk of upsetting our customers, the large-scale kind of corporate style, MSOs that have not placed an emphasis on quality. So I hope that people kind of learn that lesson and put more of an emphasis on that because I just think it’s better for consumers, and ultimately I think it’ll be better for the businesses and the brands they’re trying to create. As far as the craft scale growers being given an opportunity, I think New York is creating those opportunities not only just for small growers, but specifically for social equity style growers and retailers.

Chris Hagedorn, Hawthorne:

Vermont is another state focused on the small grower. Their mindset is very much supporting smaller craft growers and I think it’s a really great concept they have. Look at a state like Vermont, which is, it’s one of, if not the least populated state, but it punches way above its weight in certain industries, like beer and cheese. Vermont’s got nationally known and kind of beloved and respected beer and cheese brands that you may not be able to buy anywhere outside of Vermont. If you can, it’s only within kind of a few states radius, but they still are kind of nationally renowned. There is an opportunity by clearing a way for smaller, higher-end craft growers to establish that same reputation for cannabis.

I think Massachusetts has actually done a fairly good job. It’s not small growers, but they’ve got some really, really excellent kind of larger-scale in-state operators. So I think there are some states in the Northeast that are doing things right, but it’s such early days.

Green Market Report:

So looking ahead, what do you feel is behind this end-of-year recovery that is being predicted by Hawthorne, and by the other companies that are all kind of saying the same thing?

Chris Hagedorn, Hawthorne:

It’s based on a few things and I hope I continue to tell myself it’s not just based on a sort of desperation, that I need to be true. It’s based on logic and research that, the oversupply because people shut those grows off, that oversupply is only the last so long. We use the beer, the wine analogies a lot. They’re always good in this case. It’s a perishable product and eventually, those kind of backlogs are going to either have to be destroyed. They’ll be sold through, they’ll be converted into concentrates and sold through and eventually, people are going to have to turn their farms on.

So we’re looking at that. We look at just sort of seasonal upticks that we’ve seen on our business historically. You can look at the SMG results to understand even that has been slowed down just by the climate. The weather has just not turned in the way that has implications for our outdoor and even to an extent our greenhouse customers as well. So it’s looking at the oversupply, it’s continuing to talk to retailers, talk to cultivators and just try to keep to the extent that there is a pulse on this industry, kind of one pulse that can tell us how things are. We try to keep our finger on it.

I think we’ve got as much information as anybody in space. The reality is, and this is something I know certainly our analysts and our investors don’t want here. But the reality is that real hard data in this industry is hard to come by. A lot of it’s you mash together anecdote and inference and sort of educated guesses and that’s kind of what we have to operate off of. It’s uncomfortable to operate at this scale and with this much at stake, but that’s kind of where we’re at.

Green Market Report:

As far as actual technology in indoor growing, what would you say is really the next big thing? I’ve heard stuff around like timing, the lights and the grows so that they replicate natural sunrise, sunset things like that. I don’t know if that’s just goofy stuff or is that a thing or really what do you see looking ahead is going to be the next big thing or the hottest?

Chris Hagedorn, Hawthorne:

Yeah, I think we’re going to in continue to see sort of a mass migration away from older style lighting, older kind of high-pressure sodium and ceramic metal lighting to LED. The progression toward LEDs are going to continue and we’ve got a bunch of new LED products in our pipeline that continues to kind of refine and iterate on the technology that we’ve launched. So LEDs are going to continue to be a monster and kind of take over the industry and the stuff that you’re talking about, whether it’s lights that turn on and off and sort of dim themselves on and off. You read about those in Brookstone, those alarm clocks that sort of wake you up, like the sun, plants are not dissimilar in that they like to be woken up kind of gradually as well. So lights that have sunrise, and sunset. 

Now we’re also looking at the spectrum that the sun’s thrown off at sunrise when the sun comes up is very different than the spectrum when the sun’s setting or at noon. So lights that where the spectrum shifts throughout the day to mimic what the plants are used to over the course of millions of years of grown in nature. So we’re looking at all those things. I would say at a larger scale, what I’m really excited about and it doesn’t exist in a way that I think it needs to, is just full facility kind of control and sensor packages that really knit things together. I think it’s something without tooting our own horn here too much that we’re kind of uniquely able to provide just because we take such a broad cut at the industry between lights and dehumidification and HVAC and nutrients and everything kind of, we look at the whole picture.

Once you can begin to introduce AI, machine learning to really kind of use data at scale, and there’s a few companies that are starting to do it, but again, they’re doing it in one specific kind of segment of the industry. There’s no one who’s got the breadth to do it all. I think except for us and it’s on us to actually pull that technology together and we’re working on it, but it’s a big undertaking and for us it’s our roots are in bags of dirt and seed and plants.

This is our most ambitious one yet, but I think it’s where the most opportunity is because this is when you start to say, “Hey, we could maybe pull 30, 40% of the energy costs out of these facilities between all the different technologies.” 

Green Market Report:

Do you think that has a lot to do with the fact that you guys have invested a ton into R and D like that’s to your point, some of these smaller companies they’re selling the lights, they’re selling the software package they’re selling, oh, we’ve got these lights that work with these tables. But I haven’t really come across that many companies that have taken some of that money that they’ve made and then turned around and put it into R and D to learn.

Chris Hagedorn, Hawthorne:

We have invested heavily in it. That’s part of the corporate DNA and something I’m really proud of our parent company. And when I say our parent company, it has kind of multiple meanings for me because it’s my grandfather and my old man who really drove that business and continued to, that’s a company that’s always invested pretty heavily in R and D. So getting to grow up both sort of from a literal perspective and in a professional sense around a business, that placed a really high premium, the ability to innovate and understand our products and the plants that our products are used on and what our consumers are looking for. That was always kind of in our DNA.

Which I’m super grateful for and we’ve taken the time. Whether it’s the investment up in British Columbia to build out a cannabis-specific facility or to convert former Scott’s Miracle-Gro kind of turf grass research centers in Oregon to growing hemp so that we can understand because, hemp as a proxy crop for cannabis is about as good as it gets short of optimal cannabis, which we to do in Canada. So yeah, we take it seriously and we’ve been able to draft off the fact that SMG before Hawthorne even existed already had a really deep and experienced R and D capability and team. So we were able to build out our own capabilities for the stuff that’s unique to Hawthorne, that technological stuff that Scott’s never did. Then for all of our nutrients and growing medias, we can depend on the capability that already existed at Scott’s.


Debra BorchardtMay 3, 2022
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6min3250
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. 
“Spring weather, frankly, has been lousy in most markets and the season broke about two to three weeks later than normal,” said Jim Hagedorn, chairman, and chief executive officer. “Fortunately, consumer purchases have gained considerable ground in recent weeks. For example, key early-breaking markets in the south are down mid-single digits entering May after being down double digits two weeks earlier. The combination of improved weather, strong retailer promotions through Memorial Day, and favorable comparisons for the balance of the season should be tailwinds for the rest of the year. Still, we now believe the low end of our sales guidance range for U.S. Consumer of plus or minus 2% from last year’s performance is our most likely outcome.
For the quarter ended April 2, 2022, GAAP earnings from continuing operations were $4.94 per diluted share compared with $5.44 per diluted share in the prior year. Non-GAAP adjusted earnings, which exclude impairment, restructuring and other non-recurring items, and are the basis of the Company’s financial guidance, were $5.03 per diluted share compared with $5.64 a year ago. This beat the Yahoo Finance average analyst estimate for earnings of $4.75. 

Hawthorne Drys Up

Sales for the Hawthorne segment decreased 42% to $393.2 million year-to-date. In addition to delivering the sobering news about the segment’s plunge in sales, Scotts also announced that Hawthorne was buying Australia-based Cyco, for $34 million plus contingent consideration of up to $10 million. The transaction marks the fifth Hawthorne acquisition in the past year.

Cyco is a leading brand of premium nutrients, additives, and growing media products that are used by growers of all sizes in the hydroponic market. Hawthorne has been the exclusive U.S. distributor of Cyco products, which also are sold primarily in Canada and Australia through select retailers and distributors.
Although the acquisition is small, with roughly $15 million in annualized sales, Cyco is a strategic move to expand Hawthorne’s Signature line of high-quality and high-performing nutrients and growing media, including General Hydroponics, Botanicare, Terpinator and Mother Earth. Hawthorne intends to expand the availability of the Cyco brand in North America and, through an arrangement with the current Australian distributor, will make other Hawthorne products available to hydroponic growers in that market.
“At Hawthorne, while organic sales in the second quarter were in line with what we expected, recent trends also lead us to conclude the low end of our sales guidance range is a best-case outcome for this business. We are taking steps to proactively reduce costs within the Hawthorne operation with a focus on returning the business to at least its previous level of profitability as quickly as possible.”

Late Spring Start

 
On a fiscal year-to-date basis entering May, consumer purchases of the company’s lawn and garden products at its largest four retailers in the U.S. are down 12% from the same period a year ago. The company said the category gained significant momentum in recent weeks after a late break to spring and planned delays of promotional activity until after the Easter holiday.

Forecast Was Too Rosy

Scotts said its previous guidance of $8 or more of non-GAAP adjusted earnings per share is likely unattainable. Management said it currently expects to provide an update to the investment community the week of June 6, 2022.
 
“A combination of external factors that evolved over the past two months now make it unlikely for us to meet our previous earnings target,” said Cory Miller, executive vice president and chief financial officer. “However, with one-quarter of our annual POS expected in the next six weeks, any updated earnings target we developed right now would be based on a set of hypothetical assumptions. So, we are best served to be patient and provide a more informed update a few weeks from now.”
 

StaffApril 29, 2022
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7min1570

After the success of its virtual event debut last summer, Regennabis announces that Regenerative Cannabis Live will begin its series of in-person events this spring. The first will be held at the United Nations Delegates Dining Room on May 5, 2022, in New York City. Aligned with the UN Sustainable Development Goals (SDGs), this multi-stakeholder event brings together global leaders to explore the Economic, Social & Environmental impacts facing the industry now and in the future. “We need to democratize opportunities within the sector and accelerate innovation, products, and services that serve a greater need — and we believe we can do that through cannabis and hemp,“ says Patrick McCartan, CEO of Regennabis. “The feedback from our virtual Regenerative Cannabis Live event proved that and support for our upcoming event solidifies it.”

Hawthorne Gardening Company (NYSE: SMG) became the platinum sponsor of the May 2022 event. “We have a responsibility to help shape a more equitable and sustainable future,” says Hawthorne Division President Chris Hagedorn. “As a leader in growing solutions, we’re conducting R&D and bringing innovation to market in ways that can benefit cultivators, consumers, and communities. Regennabis is at the forefront of issues that are important to the industry’s future. We’re proud to support Regenerative Cannabis Live and foster dialogue to drive
meaningful change.”

Green Market Report’s Executive Editor  Debra Borchardt will be moderating a panel from 2:00pm to 3:00pm on the Economic Impact of ESG (Environmental, Social & Governance) on companies.

Regennabis is now pleased to announce the availability of a live stream link for its Regenerative Cannabis Live event taking place in New York City on May 5. Aligned with the UN Sustainable Development Goals (SDGs), this multi-stakeholder event aims to bring solution-centric perspectives to the most pressing and challenging issues facing the Cannabis & Hemp industry globally.

[Register for the Livestream HERE.]

“The need to democratize opportunities and drive innovation, services, and products have been met by the overwhelming response for the May 5 event – it’s a full house,“ says Patrick McCartan, CEO, Regennabis. “In order to bring more people together, we’re delighted to provide a live stream of the entire event.”

[View Full Agenda HERE.]

Regenerative Cannabis Live seeks to convene the ecosystem of action-oriented leadership from Corporations, Government, Investors, Media, Civil Society & NGOs, along with Influencers from the Arts & Entertainment world “into the room” to channel their resources and help drive this “Decade in Action.”

The six-panel topics are tailored around authentic, action-oriented discussions on Recreational / Adult-use Cannabis, Medical / Health & Wellness and Industrial Hemp with alignment to the UN Sustainable Development Goals (SDGs), featuring 3 tracks [Economic, Social and Environmental] and bringing a multi-stakeholder perspective on the most pressing and challenging issues facing the Cannabis & Hemp industry globally.

In partnership with Hawthorne Gardening Company and Media Sourcery, the Regenerative Cannabis Live’s conference brings together an ecosystem of action-oriented leadership from Corporations, Government, Investors, Media, Civil Society & NGOs, along with Influencers from the Arts & Entertainment world “into the room” to channel their resources and help drive this “Decade in Action”.


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