Jushi Archives - Green Market Report

Debra BorchardtApril 21, 2021
beyond.jpg?fit=960%2C540&ssl=1

4min8600

Jushi Holdings Inc.  (OTCMKTS: JUSHF) was not able to finish its audited fourth-quarter and full-year results by the April 30 deadline. Instead, Jushi delivered unaudited results said it expected to deliver the official numbers by May 24, 2021.  Despite the numbers being unaudited, revenues increased 30% sequentially in the fourth quarter to $32.3 million and easily tops last year’s revenue of $6 million for the same time period. For the full year 2020, Jushi reported revenues increased 690% to $80.8 million versus last year’s $10.2 million.

“While we’re disappointed by the unexpected delay that our auditors have experienced in finalizing their work, we’re thrilled with the underlying strength of our business, the robust growth we have achieved in 2020, and the continued momentum we have seen into 2021,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “2020 was a defining year for the Company. Our strategy to rapidly build scale in the best limited license markets on both the East and West coast combined with our focus on operational excellence has driven strong financial results on both a sequential quarterly and year-over-year basis.”

The company said that the income from operations was $0.4 million, a $9.6 million improvement as compared to the fourth quarter of 2019. Jushi also noted it has $93.8 million of cash, cash equivalents, and investments in securities on the balance sheet as of December 31, 2020. For the full year, Jushi delivered a loss from operations of $10.5 million, a $23.7 million improvement as compared to 2019.

Market Expansion

The company continues its blistering pace of expansion. In the fourth quarter, it opened three new retail dispensaries and exercised an option to purchase an additional three dispensaries (two of which were operational).

Mr. Cacioppo continued, “Together, we solidified our leadership position in Pennsylvania, by acquiring a grower-processor permit holder and two medical marijuana dispensary permit holders, each with licenses to operate three dispensaries. We also entered into three new markets, Illinois, California and Virginia, opened and/or acquired a total of nine retail stores, and launched a best-in-class, online shopping experience at Beyond-Hello.com. Furthermore, we established a deep and talented management team and strengthened the Company’s balance sheet with opportunistic debt and equity capital raises that allow us to fund the Company’s expansion plans and pursue opportunistic acquisitions.”

Mr. Cacioppo concluded, “With our recently announced planned acquisitions in Massachusetts and in Ohio; the previously announced expansion and build-out of our facilities in Pennsylvania and Virginia; and the continued build-out of our

 


StaffApril 20, 2021
Jushi.jpg?fit=960%2C640&ssl=1

3min6120

Jushi Holdings Inc. (OTCMKTS: JUSHF) is buying OhiGrow, LLC, one of 34 licensed cultivators in Ohio, and Ohio Green Grow LLC collectively known as OhiGrow in a deal valued at $5 million in cash. The acquisition includes an approximately 10,000 sq. ft. facility and 1.35 acres of land. Jushi said that OhiGrow will complement the soon-to-be operational 8,000 sq. ft. state-of-the-art Ohio medical cannabis processing facility, to which Jushi provides operational and consulting services. The deal is expected to close in the third quarter of 2021.

“We are thrilled to expand our operations and solidify our footprint in the rapidly growing Ohio medical cannabis market through this planned Acquisition and move one step closer to vertical integration in this burgeoning market,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “With the tight restrictions on cultivation licenses and high barriers to entry in the Ohio market, this Acquisition is expected to rapidly establish Jushi’s presence in the market and secure a consistent and reliable source of high-quality medical cannabis.”

OhiGrow is located in Toledo, OH, approximately 100 miles or 2.5 hours from Columbus, OH. Jushi said that the current owners have invested approximately $4.5 million in the building, equipment and land. There is an additional 15,000 sq. ft. of available vacant space on the property, which can be further developed. OhiGrow holds a Level II cultivation license from the state, and has the right to apply for the necessary approvals to expand the facility’s cultivation area, ultimately up to the maximum 9,000 sq. ft. currently permitted under the Level II cultivation license. OhiGrow is expected to supply biomass to the Processing Facility once it is completed to create manufactured medical marijuana products for sale into the wholesale market.

The Ohio medical cannabis program is a limited license market with distinct licenses for cultivation, processing, and retail. As of February 28, 2021, the Ohio Medical Marijuana Control Program reported over 176,000 registered medical patients. As reported by the Ohio Medical Marijuana Control Program, from April 2019 through March 20, 2020, the state generated approximately $344 million in total medical cannabis product sales.


Debra BorchardtApril 19, 2021
Natures.jpg?fit=960%2C711&ssl=1

5min15820

Jushi Holdings Inc. (OTCMKTS: JUSHF) is buying a vertically integrated single state operator in Massachusetts called Nature’s Remedy of Massachusetts, Inc.  in a deal valued at $110 million. The acquisition is expected to close in the second half of 2021. Nature’s Remedy currently operates two retail dispensaries, in Millbury, MA and Tyngsborough, MA, and a 50,000 sq. ft. cultivation and production facility in Lakeville, MA with approximately 19,500 sq. ft. of high-quality indoor flower canopy and state-of-the-art extraction and manufacturing capabilities.

“We are excited to announce that we have signed a definitive agreement to acquire Nature’s Remedy, a vertically integrated business operating high-quality, well-managed assets in Massachusetts,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “Our entrance into Massachusetts will mark the seventh state where we operate cannabis assets and the third state where we are vertically integrated. This acquisition will enable us to rapidly build scale in an important, maturing adult-use market with a defensible retail position and a solid cultivation footprint with significant opportunities to expand.”

Terms of the Deal

Jushi has agreed to acquire Nature’s Remedy for an upfront payment of $100 million which will be $40 million in cash, $55 million in subordinate voting shares of Jushi, and $5 million unsecured promissory note. Jushi has also agreed to issue up to an additional $10 million in shares upon the occurrence or non-occurrence of certain conditions after the closing date, bringing the total potential consideration for the acquisition paid by the company to $110 million.

Who Is Nature’s Remedy?

The Millbury dispensary is located in the town of Millbury, MA just south of Worcester, MA. The Millbury dispensary caters primarily to the local population and surrounding underserved areas. The Millbury dispensary provides ample parking for its patrons and is strategically situated along the Worcester-Providence Turnpike, which sees approximately 10,600 cars per day. The Millbury dispensary is located in close proximity to the Shoppes at Blackstone Valley, the largest open-air shopping center in Central Massachusetts, and the Mass Turnpike.

Tyngsborough is located in northern Middlesex county just south of Nashua, New Hampshire. The Tyngsborough dispensary is strategically located in close proximity to the Pheasant Lane Mall, one of the largest malls in New Hampshire, as well as in close proximity to an exit on Route 3 / Northwest Expressway, which sees 60,000 to 80,000 cars per day. There is ample customer parking with potential for expansion.

The 50,000 sq. ft. Lakeville Facility is located within a 185,000 sq. ft. industrial complex. Currently, the Lakeville Facility’s flower canopy encompasses approximately 19,500 sq. ft., which Nature’s Remedy expects to expand to approximately 31,000 sq. ft. during the second half of 2021. The Lakeville Facility utilizes COextraction and has a full kitchen for edible production. Current flower production at the Lakeville Facility is approximately 6,800 lbs. / year, which, as part of the expected expansion, Nature’s Remedy could increase to approximately 11,000 lbs. / year based on 31,000 sq. ft. of canopy.


StaffApril 14, 2021

5min8180

Jushi Holdings Inc.  (OTCMKTS: JUSHF) is buying the 93,000 sq. ft. facility, operated by its wholly-owned subsidiary and Virginia-based pharmaceutical processor, Dalitso LLC , together with approximately nine acres of surrounding land in Prince William County, Virginia, for approximately $22 million. The Acquisition, together with Dalitso’s planned buildout of the Facility, will enable Dalitso to efficiently produce a consistent supply of medical cannabis products as patient access improves and as the medical cannabis program matures and expands. The Acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2021.

In December 2020, Jushi announced it completed the acquisition of the remaining 21% of the issued and outstanding equity of Dalitso, bringing its ownership to 100%. Jushi also announced in December 2020 that Dalitso had commenced operations at the Manassas facility and officially began serving patients at its BEYOND / HELLO Manassas location.

“The Virginia cannabis market is an area of strategic focus for Jushi given Dalitso’s strong position in the most densely populated region in the Commonwealth,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “Through the completion of this acquisition, Dalitso will have the expansion capacity required to scale cultivation and processing to meet the anticipated patient demand of a growing program. Jushi is dedicated to providing patients with best-in-class products and dispensing experiences that go beyond expectations. To that end, we look forward to the continued build out of our Facility so we can best serve registered patients. Separately, we were pleased to see Governor Northam and the General Assembly respond to their constituents by moving the effective date of legal possession date for small amounts of cannabis forward to July 1, 2021. We hope the Governor and General Assembly will act expeditiously and with similar decisiveness to authorize legal procurement so Virginians without a medical certification have access to safe and controlled cannabis products in a regulated market without material delay.”

Virginia

Virginia recently became the 17th state to legalize cannabis for adult use and the fourth state to do so by passing a bill through its state legislature versus going to the voters. Virginia lawmakers approved a bill that would legalize, regulate, and tax cannabis sales for adults 21 and over.   It will probably be another two years before the state sees any retail sales.

Dalitso is one of only five applicants to have received conditional approval for a pharmaceutical processor permit issued by the Virginia Board of Pharmacy, and one of only four to have received final approval and permit issuance in the Commonwealth. Dalitso’s permit allows Dalitso to cultivate, process, dispense, and deliver medical cannabis to registered patients in Virginia. The designated area for Dalitso to operate is Health Service Area II, in Northern Virginia, which includes two of Virginia’s most densely populated counties, Fairfax and Prince William, and has a population of approximately 2.5 million people or nearly 30% of the state’s total population according to the U.S. Census Bureau.


Debra BorchardtMarch 1, 2021
legalize.jpg?fit=960%2C640&ssl=1

6min7340

The cannabis community is certainly pleased to see that the state of Virginia has legalized adult-use cannabis, but it will be some time before sales can begin. Still, despite support for the legislation it looked to be a nail-biter to the end. The Virginia House and Senate lawmakers were in agreement on passing the law, but they differed on just exactly what it would look like.

The two sides have been working over the past few weeks to reach a compromise, which was beginning to look less possible. Then on Saturday, it seemed the law just managed to squeak through. Marijuana Moment reported, “The Senate voted 20-19 to approve the conference committee report on its bill as well as the identical version for the House legislation. The House voted to approve the conference report on its bill, 48-43, with two abstentions. When considering the Senate version, the House voted 47-44, with one abstention.”

The next stop for the legislation goes to Democratic Gov. Ralph Northam, who supports legalization. However, it will be some time before Virginians will actually be able to purchase adult-use cannabis in the state.

Sales Begin January 1, 2024

Another major area of contention dealt with how the state would approach cannabis possession in the time between the bill’s signing and implementation of legal sales going into effect. Under both versions, the adult-use market wouldn’t launch until January 1, 2024 to give the state time to establish a regulatory agency to oversee the program. While the Senate had wanted to make the legalization of simple possession and home cultivation take effect starting on July 1 of this year, negotiators ultimately agreed to delay it to coincide with commercialization in 2024.”

One company that was intently focused on the outcome of this legislature was Jushi Holdings (OTC: JUSHF). In the fall of 2020, Jushi, through its 100% owned Virginia-based pharmaceutical process permit holder, Dalitso LLC, started operations at its 93,000 sq. ft. cultivation, manufacturing, processing and retail facility in Manassas, and opened the first of six dispensaries operating under the company’s retail brand, BEYOND / HELLO on December 1, 2020. Dalitso is currently one of only five applicants to have received approval for a pharmaceutical processor permit issued by the Virginia Board of Pharmacy, and the designated area for Dalitso to operate is Health Service Area II, in Northern Virginia, which has a population of approximately 2.5 million people or nearly 30% of the state’s population. This area includes two of Virginia’s most densely populated counties, Fairfax and Prince William County.

“The adult-use cannabis legislation passed by the Virginia General Assembly is a critically important first step on the path toward legalization,” said Jushi CEO and Founder Jim Cacioppo. “These bills begin to accomplish fundamental justice and equity priorities as well as promote public health.  Jushi appreciates the General Assembly’s commitment to address these complex issues, especially the passion shown by Senators Adam Ebbin and Louise Lucas and Delegate Charniele Herring in answering Governor Ralph Northam’s call for legalization.
Adding flower to Virginia’s medical cannabis program is a critical advance and Jushi applauds Delegate Cliff Hayes and Senator Louise Lucas on this achievement.  We expect that around the end of the year, this new legislation will allow pharmaceutical processors to make medicines available at much lower price point and expand access to patients who could otherwise not afford sustained medical cannabis therapy.”


Debra BorchardtNovember 23, 2020
Jushi-Worker-Working-w_-Products-in-Scranton-Facility--scaled.jpg?fit=1200%2C800&ssl=1

9min11710

Jushi Holdings Inc.  (OTCMKTS: JUSHF) said it is planning a $50 million expansion project in Scranton, Pennsylvania which is expected to create more than 100 more new jobs in the Scranton area. The company said it plans to nearly double the square footage of its subsidiary’s grower-processor facility from approximately 90,000 sq. ft. to more than 160,000 sq. ft. in a phased expansion.

In 2019, the company opened the medical marijuana dispensary BEYOND / HELLO Scranton. Jushi already employs 70 people in the Scranton area and once this expansion is completed, it will have added 17 new jobs to the region. For the expansion, the company also plans to hire all local construction, electricians, and vendors for its expansion efforts.

“The medical cannabis market in Pennsylvania is rapidly growing and with our products in high-demand, this investment will significantly expand our cultivation capacity and market share,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “This is a robust operating environment and with the market intelligence gained through our eight currently operating BEYOND / HELLO retail dispensaries, we believe that patient demand for high-quality, medical-grade cannabis products is still far from being satisfied. We are very excited by the opportunity ahead of us in Pennsylvania, and as one of the fastest-growing jobs sectors in the U.S., Jushi and its subsidiaries look forward to bringing additional new local jobs and tax dollars to the region and further investing in Scranton’s economy and community.”

Pennsylvania

Pennsylvania’s Republican legislature continues to block the adult-use legalization measure despite the state’s widening budget gap.  PA Governor Tom Wolf has been pushing for the legalization of cannabis for adults and looking for ways to close the budget gaps. If adult-use legalization were to pass in PA, the cannabis industry would likely double to triple in size, which would only create more taxes for state and local coffers and jobs in PA. The state is also facing pressure from its border with New Jersey which is planning on fast-tracking the legalization of adult-use cannabis. This could negatively impact the medical market in the state.

Expansion Plans

Jushi said that the majority of the approximate 70,000 sq. ft. expansion project will be focused on increasing the facility’s canopy space, which upon completion will nearly triple to approximately 98,000 sq. ft. In a statement, the company said that the first phase of the expansion is expected to come online in mid-2021 and the final phase will be completed by the second quarter of 2022. In total, Jushi expects to invest approximately $50 million in the expansion project, which is expected to create more than 100 new jobs in the Scranton area. Jushi (through its subsidiary Pennsylvania Medical Solutions, LLC), will work with Innovative Industrial Properties Inc. (NYSE: IIPR)  (through its subsidiary IIP-PA 1 LLC) to partially finance the expansion project via an upsize to the existing lease agreement between the parties. The expansion project is subject to the company’s successful completion of certain milestones, including receipt of all local and state approvals and permits, and the finalization of a mutually agreed lease amendment with Innovative Industrial Properties Inc. related to the Facility.

The company reminded investors that it recently completed an expansion project in the third quarter of 2020, which included increasing the facility’s indoor cultivation from approximately 20,000 sq. ft. to approximately 45,000 sq. ft. (~33,000 sq. ft. of canopy) and supplementing the current CO2 extraction with new Class I, Division 1 ethanol extraction technology. The facility produces high-quality, indoor-grown flower and extracts and is strategically located within minutes of Interstate 81, Interstate 84 and the Pennsylvania Turnpike, enabling efficient wholesale distribution to the 98 dispensaries currently operating across the commonwealth, including the Company’s eight operational BEYOND / HELLO dispensaries. The facility is expected to supply the company’s subsidiaries and other licensed retail facilities.


Debra BorchardtOctober 1, 2020
BeyondHello.jpg?fit=1200%2C800&ssl=1

3min6440

Jushi Holdings Inc. (OTCQB: JUSHF) announces rising revenue after releasing preliminary financial results. The company is estimating revenue of $24 million for its third-quarter ending September 30, 2020, a change from its previous guidance of $22-$25 million and a sequential increase of 61%. The guidance for revenue in the fourth-quarter ending December 31 is now expected to be at the high end of the previously announced range of $25-30 million and Jushi said it expects to report positive adjusted EBITDA. The total fiscal year 2021 revenue has been revised from $200-250 million to $205-255 million and the adjusted EBITDA is expected to be between $40-50 million.

“By selectively investing our shareholders’ capital in high-growth markets with strong barriers to entry across the country, we’ve positioned Jushi for sustained, long-term profitable revenue growth,” said Jim Cacioppo, Chief Executive Officer, Chairman and Co-Founder of Jushi. “To complement our strong operating assets, we have also carefully curated a team of experienced executives with diverse backgrounds and industry experiences to lead Jushi as we continue to scale our operations and grow our market share.”

The company detailed the revenue by state in a release as follows:

On a geographic basis, the fiscal year 2021 total revenue is expected to break down in each state where Jushi is currently active:

    • Pennsylvania: $95 – 110 million
    • Illinois: $70 – 80 million
    • Virginia: $17 – 25 million
    • California: $12 – 20 million
    • Nevada: $5.5 – 10 million
    • Ohio: $5.5 – 10 million
  • Operating cash flow positive in fiscal year 2021

Jushi also confirmed that as of August 31, 2020, it had approximately $44 million of cash, as well as $7.5 million in marketable securities.

In August, Jushi attributed the increase in revenue to its acquisition of two medical marijuana dispensaries in Illinois, one of which began serving adult-use customers in March and the other in May. There was also strong organic revenue growth at the BEYOND/HELLO stores in Pennsylvania, and successful procurement of product in these two supply-constrained markets.

Mr. Cacioppo added, “Our projections do not include any significant changes in the regulatory environments. We’re thrilled with the great performance Jushi has achieved to date and encouraged by the immense opportunity ahead of us.”


Debra BorchardtJuly 13, 2020
money.jpg?fit=960%2C640&ssl=1

3min10630

 Jushi Holdings Inc. (OTCQX: JUSHF) announced $15.25 million in debt financing. To date, The company said it has received cash proceeds of $16.325 million and additional binding subscriptions, for a pro forma total issuance of $17.425 million of 10% senior secured notes and warrants to acquire a subordinate voting share. The company also received non-binding indications of interest for up to an additional $10 million of financing.

The money will be used for the cash portion of a previously announced Pennsylvania grower-processor permit holder transaction.  Last month the company said it was planning on buying Vireo Health’s (OTC:VREOF) Pennsylvania Medical Solutions in an effort to strengthen its position in the state’s market. Jushi was to pay Vireo $16.3 million in cash, a $3.8 million seller note, and assume a $17 million facility associated with a long-term lease obligation. The $37 million deal is expected to close by the end of August 20.

Debt Terms

The company said in a statement that all Notes would mature on January 15, 2023, and will bear interest of 10.0% per annum payable in cash quarterly. Jushi’s obligations under the Notes are secured by the assets of Jushi and certain of its subsidiaries (subject to certain exclusions) and are also guaranteed by certain subsidiaries of the Company and rank pari passu with the currently outstanding 10% senior secured notes of the Company.  In connection with the Offering, the purchasers of the Notes will also receive Warrants to acquire subordinate voting shares of the Company at 75% coverage with an expiry date of December 23, 2024, at an exercise price equal to US$1.25 (~CAD$1.70 as of 7/10/20).  The Warrants contain a cash-less exercise (net settlement) option available 12 months after issuance.

Jushi’s Chairman & CEO Jim Cacioppo subscribed for US$1.5 million of the Notes with other insiders and management subscribing for US$3.475 million of the Notes.


Debra BorchardtMay 11, 2020
BeyondHello.jpg?fit=1200%2C800&ssl=1

3min9370

Multi-state operator, Jushi Holdings Inc.  (JUSHF) has launched its adult-use sales at a dispensary in Normal, Illinois (Bloomington-Normal metropolitan area) under the company’s BEYOND / HELLO brand.

“On this day two years ago, BEYOND / HELLO opened up its very first dispensary in Bristol, Pennsylvania. Several store openings later, we’re now expanding into one of the most attractive and fastest-growing adult-use cannabis markets in the country,” said Jim Cacioppo, Jushi’s Chairman, and Chief Executive Officer. “We continue to work aggressively to stay ahead of consumer demands while remaining nimble in our response to COVID-19. Our new online shopping platform delivers a more convenient and transparent shopping experience while providing an alternative way for our customers to engage with our BEYOND / HELLO retail brand.”

On Monday, the  BEYOND / HELLO Bloomington-Normal will begin serving adult-use customers through Jushi’s online shopping platform and through over-the-phone orders for in-store pickup. Medical patients can continue to shop in-store as well as place orders online and over-the-phone for either curbside or in-store pickup. The company said it expects to open an additional two storefronts in the state by year-end.

Canceling San Diego

As Jushi ramps up openings in Illinois, the company also announced that it was terminating an agreement to buy an operational adult-use and medicinal dispensary in San Diego, CA. That deal was originally signed in the third quarter of 2019 with Jushi planning to acquire 75% of the equity and voting interest in the San Diego dispensary for approximately $12 million. The deal was expected to close by the end of 2019, but Jushi believed the sellers had breached the agreement. The sellers disagreed and thought Jushi was in breach for not closing the deal.

The company said that by May 9, the sellers still hadn’t “cured the breaches to the agreement” and so the deal was killed.

Cacioppo said, “We will continue to pursue M&A opportunities in limited license jurisdictions within California that align with our core businesses and growth strategy. Jushi expects to close on its definitive agreement in Santa Barbara for one of the three dispensary licenses in that City during the third quarter of 2020, and a Jushi subsidiary received approval for a retail and delivery permit in Culver City, California last year. We remain confident that we can expand our presence within California by targeting limited license markets with high barriers of entry.”

 


Debra BorchardtMarch 25, 2020
BeyondHello.jpg?fit=1200%2C800&ssl=1

4min17360

Multi-state operator Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) said that its dispensaries received the “life-sustaining” business designation in Pennsylvania and the “essential services” designation in Illinois. As a result, the company’s six dispensaries in Pennsylvania, operating under the brand “BEYOND/HELLO,” and its two dispensaries in Illinois, operating under the brand “The Green Solution” (transitioning to BEYOND/HELLO branding later this year), will remain open.

The Company is announcing several initiatives prioritizing its medical patients and customers most susceptible to COVID-19 during the pendency of the COVID-19 outbreak:

  • Pennsylvania – Effective immediately, BEYOND/HELLO dispensaries will only serve patients 50 years or older in the first hour of operations. Curbside pick-up will begin to be offered at three PA dispensaries starting March 30th. Curbside pick-up available at Bristol, West Chester and Scranton PA locations.
  • Sauget, Illinois – Beginning March 30th, The Green Solution dispensary will only serve medical patients on Mondays. In addition, starting on March 31st, The Green Solution dispensary will serve only medical patients and customers 50 years or older during the first hour of operations. Curbside pick-up will also be offered to medical patients beginning March 26th.
  • Normal, Illinois – Beginning March 31st, The Green Solution dispensary will only serve patients 50 years or older in the first hour of operations. Curbside pick-up will also be offered to medical patients beginning March 26th.

As of March 25th, Jushi acquired the two Illinois dispensaries on January 30th and has subsequently begun serving adult-use customers at its Sauget location as of March 2nd. Through the first three weeks of March, company-wide retail revenues were approximately $3 million, an increase of approximately 70% as compared to February 2020.

“I am proud of all of our team members for responding quickly and appropriately during this rapidly evolving and uncertain time globally. Thus far in March, we have seen a significant increase in traffic and demand, which is a reflection of the loyalty of our customer base. Going forward, we will continue to closely monitor the status of our operations and make adjustments as needed to ensure the health and safety of our patients, customers, and employees,” said Jim Cacioppo, Chairman and Chief Executive Officer of Jushi.

Insider Buying

In a separate announcement, Jushi said that insider Denis Arsenault acquired shares and sold notes and warrants. “Following the completion of the acquisitions and dispositions of the Specified Securities as outlined above, the Acquiror holds $7,500,000 of the Notes, 4,000,000 multiple voting shares of the Issuer, 2,329,162 Subordinate Voting Shares and 11,174,206 Warrants, which represent in the aggregate, on an as-converted basis, 17.01% of the Subordinate Voting Shares issued and outstanding.


Don't Miss This Week's Exclusive News

Our team will cultivate the cannabis industry’s critical news and deliver it directly to your inbox every Friday. Don't miss it. Subscribe Now.

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 – 3 hours

Rise & shine. It’s Merger Mania in the industry this beautiful $HEXO $CURLF @Curaleaf_Inc…

@GreenMarketRpt – 3 hours

$CCHWF They missed, but only by a smidge and the quarter was really solid. #Cannabisstocks…

Back to Top