Leaf Trade Archives - Green Market Report

StaffMarch 28, 2023


The Daily Hit is a recap of the top financial news stories for March 28, 2023.

On the Site

Judge Narrows New York Retail Licensing Injunction to One Region

An injunction issued by a federal judge in November that has stalled retail cannabis licensing in five of New York’s regions has been narrowed now to just one – the Finger Lakes. That means marijuana retail licenses can now be awarded by the state Office of Cannabis Management in the other four regions, which include Brooklyn, Central New York, Western New York and the Mid-Hudson areas. Read more here.

Eight Cannabis Companies Sue Georgia, Allege Fraud, Corruption in Licensing

A coalition of eight companies that submitted bids for medical marijuana licenses in Georgia have filed suit against the state, alleging that the permitting process was corrupt and fraudulent and asking a judge to set aside the license awards. Read more here.

Massachusetts’ MCR Labs Accuses Control Board of Harassment

The CEO and founder of Massachusetts cannabis testing company MCR Labs is accusing the state’s Cannabis Control Board of harassing and intimidating employees, disregarding safety protocols, and compromising their facility’s testing integrity during an unannounced inspection last week. Read more here.

Canopy Growth Fined C$15 Million for Breach of Contract

Canada’s Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) has been ordered by an arbitration tribunal to fork over C$15 million to an unnamed counterparty for breach of contract, the company disclosed this week in a regulatory filing. Read more here.

Leaf Trade, Sweed to Merge Into ‘B2B2C’ Cannabis Tech Platform

Nevada-based cannabis tech companies Leaf Trade and Sweed will merge into a new yet-to-be-named business entity, with Leaf Trade CEO James Yi at the helm. The combined company, Yi said, will result in a new “B2B2C” tech platform that is unique to-date in cannabis. Read more here.

Grown Rogue Gets Boost from Michigan Sales

Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF), reported its fiscal first quarter 2023 results for the three months ended Jan. 31, 2023. Grown Rogue‘s revenue grew 21% to $4.5 million versus last year’s $3.7 million in the same time period. The company also reported a net income of $592,000. Read more here.

SNDL to Buy Dutch Love, Delays Earnings

SNDL Inc. (Nasdaq: SNDL) reported that it has entered into an agreement with Lightbox Enterprises Ltd. to buy four cannabis retail stores operating under the Dutch Love Cannabis banner in a deal valued at $7.8 million. the deal is expected to close by the end of May 2023. Read more here.

In Other News


Last week, the Texas House Committee on Public Health unanimously approved a bill to increase the THC limits in medical cannabis and expand who is eligible to use it. On Tuesday, goodblend — a state-licensed medical marijuana operator — opened its first dispensary location in Austin. It’s only the third medical marijuana retail location to open in the Lone Star State. Read more here.

Wu-Tang Clan

Newark, New Jersey’s Central Planning Board stomped on a lot of buzzes Monday night, denying an application by Wu-Tang Clan’s Raekwon to open a cannabis lounge a block from the Prudential Center arena after church elders protested and one board member complained that the rendering was offensive. Read more here.

StaffMarch 23, 2021


Wholesale cannabis platform Leaf Trade closed its $5.5 million Series A preferred round led by Artemis Growth Partners with participation from Future Shape 1.5 and Hyde Park Angels. The company said that the total funding for Leaf Trade comes to $10 million to date. This includes the conversion of the company’s earlier round and provides significant fresh capital to accelerate current growth in the company’s core 17 markets, as well as to expand into west coast markets while continuing to invest in their technology.

Leaf Trade and Leaf Pay are already adopted as essential tools for the current and future success of some of the world’s largest cannabis companies, including CuraLeaf Holdings (CURLF), Verano Holdings Corp (VRNOF), Green Thumb Industries Inc. (GTI) (OTCQX: GTBIF), Columbia Care Inc. (OTCQX: CCHWF)  Vireo Health International, Inc. (OTCQX: VREOF). Acreage Holdings (OTCMKTS: ACRDF) and Jushi Holdings Inc (JUSHF).

“We are fortunate to have great existing partners and to add a strategic group like Artemis. With our visions aligned, we can continue to focus on offering the best-in-class solutions to customers in the B2B segment of the cannabis supply chain,” said James Yi, Founder and Chief Executive Officer of Leaf Trade.

Leaf Trade is a technology company whose platform facilitates wholesale ordering and fulfillment for cultivators and retailers, recently launched its integrated payments platform, Leaf Pay,which provides for seamless, end-to-end order processing and payment for all transactions.  As an integrated feature on the Leaf Trade market platform that utilizes compliant bank-based payment processing, Leaf Pay is not only the easiest one-step payments tool for cannabis companies nationwide but is also the lowest cost. The company said the platform is designed to be more cost-competitive than credit card or wire payments and easier to manage and track than check or cash invoices.

“With Artemis’ deep experience and proven track record, our partnership will fuel growth and help us deliver even greater value to the market,” added Michael Piermont, President and Chief Revenue Officer at Leaf Trade.

“We are delighted to fund into what we believe is the best team in the wholesale and payments subsector, and the results of Leaf Trade are nothing less than impressive. Supporting the company with investment partners such as Future Shape 1.5 and Hyde Park Angels only strengthens our long-term opportunity as investors in Leaf Trade,” commented William Muecke, Managing Member and co-founder of Artemis Growth Partners, the industry-leading ESG and impact-oriented private equity platform in global cannabis.

“The rapid growth of the cannabis market is supported by companies such as Leaf Trade where integrated trading platforms and seamless payment processing lowers operating costs and increases efficiencies for producers and buyers alike,” Muecke continued. “Leaf Trade powers the largest and fastest-growing players in national cannabis, and we believe that the company’s software and services platform fulfill an essential and irreplaceable role among a demanding customer base.  Once a customer adopts Leaf Trade’s platform, they simply never leave.”

Leaf Trade is powering the players who are driving cannabis growth at an industry expansion rate of over 25% per year.  Market revenues for the overall US cannabis market are expected to exceed $60 billion by 2025.

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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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