John SchroyerDecember 18, 2022
There's no shortage of lawyers ready and eager to file suit.
Lowell Smokes Archives - Green Market Report
John SchroyerDecember 18, 2022
Kaitlin DomangueFebruary 25, 2021
It’s time for your Daily Hit of cannabis financial news for February 25th, 2021.
On the Site
Should You Use CBD Gummies to Help Mental Health?
There is plenty of evidence to show that CBD can have a profound impact on mental health. This article dives into some of the research and studies that exist include:
- Anti-inflammatory
- Anxiety relief from CBD
- CBD’s interaction with serotonin receptors in the brain
- And other additional pieces of research
Innovative Industrial Stock Sells Off Despite Solid Earnings
Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) released results for the fourth quarter and year ending December 31, 2020, after the market closed on Wednesday. The stock was pulling back in pre-market trading by over 6% to sell near $206 as investors were disappointed with the earnings. Innovative Industrial delivered a fourth-quarter FFO of $1.36 missed by $0.07 and the revenue of $37.09 million missed by $1.41 million despite increasing by 110%.
Valens Reiterate Guidance Despite Slight Drop in Sales
The Valens Company Inc. (OTCQX: VLNCF) reported its fourth quarter and fiscal year financial results for the period ended November 30, 2020. Valens reported gross revenue for the fourth fiscal quarter fell to $17.9 million from $18.5 million in the third quarter of 2020. The net loss increased to $16.6 million sequentially over the third quarter’s net loss of $3 million.
PharmaDrug Files For DMT To Be Used for Kidney Transplants
PharmaDrug Inc. (CSE: BUZZ) (OTC Pink: LMLLF) has filed for an application with the U.S. Food and Drug Administration to receive Orphan Drug Designation (“ODD”) for N,N-Dimethyltryptamine or DMT in the prevention of ischemia-reperfusion injury in patients undergoing kidney transplantation.
Indus Holdings Buys Lowell Herb for $39 Million
California-based Indus Holdings, Inc. (OTCQX: INDXF) is buying Lowell Herb Co. and Lowell Smokes in a deal valued at $39 million. The acquisition includes trademark brands, product portfolio, and production assets of Lowell from The Hacienda Group effective immediately. The company will change its name to Lowell Farms Inc.
Acreage Holdings Sells Florida Property for $60 Million
Acreage Holdings, Inc. (OTCQX: ACRDF, ACRHF) announced its subsidiary, High Street Capital Partners was selling Acreage Florida, Inc. to Red White and Bloom Brands, Inc. (OTCQX: RWBYF) for $60 million. The deal also includes the sale of property in Sanderson, Florida. The stock was dropping over 6% to lately sell at $7.39.
In Other News
MJ Holdings, Inc. to Acquire Medical and Recreational Cultivation Licenses
MJ Holdings, Inc. (OTC PINK: MJNE) has reached a point of being ready to purchase two cultivation licenses (recreational and medical) and two production licenses (recreational and medical) and transfer the appropriate license to proprietary land.
“In consideration of $1.250M and 200,000 shares of our common stock (Purchase Price), we will soon fully control our own destiny as we have applied to transfer the cultivation licenses to our proprietary land: The Farm. We have arranged an amicable separation under our existing management agreement with Curaleaf/Acres and are developing our cultivation facility on The Farm for our own use. With the enormous Las Vegas tourism industry soon to be on the rebound, we are well positioned to meet or exceed our fair share of demand,” said Paris Balaouras, Founder and Chief Cultivation Officer of MJ Holdings, Inc.
Cronos Group Earnings Preview for Q4 2020
Cronos Group (OTC:CRON), is set to announce their earnings for the fourth quarter of 2020. The consensus EPS estimate is -$0.08, and the revenue estimate at $13.23 million. The company has beat estimates 75% of the time over the last year, and has beaten revenue estimates 25% of the time.
Kalamazoo Mayor to Attend Ribbon Cutting Ceremony of Cookies Store
Kalamazoo’s mayor, David Anderson, has confirmed his participation in a ribbon cutting ceremony for a Cookies retail location on February 26th. The event was announced by the company in a press release.
Cookies is owned by California rapper and entrepreneur, Berner.
“The Midwest is an important part of Cookies’ overall expansion plan, and our partnership with Gage Cannabis has been integral,” Cookies CEO Berner said in a news release. “We’ve seen tremendous demand from cannabis consumers in Michigan and the surrounding areas and look forward to continuing to serve them as our partnership grows with this second location.”
Debra BorchardtJune 6, 2018
The California cannabis company known for its marijuana flower crowns and special holiday products, Lowell Herb Co., is teaming up with Namaste Technologies (NXTTF) to launch its products in Canada. Namaste signed a supply and distribution agreement with Lowell Herb to launch ultra premium Lowell Smokes products for the Canadian recreational and medical cannabis markets.
In anticipation of Canada’s roll-out of legal recreational cannabis, the deal represents a strategic partnership between Namaste and Lowell Smokes to leverage Namaste’s resources and Lowell’s international brand appeal. According to the company statement, Namaste will work with Lowell Smoke’s procurement team to source the highest quality cannabis grown with organic methods and facilitate packaging and distribution through the Company’s wholly-owned subsidiary, Cannmart Inc. Namaste anticipates a strong demand for organic cannabis products as the general consumer market becomes more conscious of the products they consume.
“We are thrilled to announce our partnership with Namaste. Lowell Herb co is the fastest growing cannabis brand in California, and we believe that there is a massive opportunity for our brand internationally,” said David Elias, President and CEO of Lowell Herb Co. “Working with Namaste, we are confident that they are the perfect partner to help us enter the Canadian market. They have a unique offering, and they are solid operators with deep domain expertise in eCommerce.”
Lowell Smokes has established itself as one of the strongest brands in the quickly growing and highly competitive market of California. Its products are in over 250 dispensaries in the state. In a recent BDS Analytics report, Lowell Smokes ranked as the #1 pre-roll brand in California amongst over 50 other brands listed, with an impressive 12% market share. The company has also managed to amp up its star power with celebrities like N.O.R.E, Snoop Dogg, Jimmy Kimmel, Sarah Silverman, Bella Thorne, Bria Vinaite and Sasha Lane talking about the brand and posting content on social media.
“We have seen the sales data in California, the largest and most competitive market in the US, and it’s clear that customers love and adore the Lowell brand,” said Sean Dollinger, President, and CEO of Namaste Technologies. “We feel confident that the market for organic cannabis products will play an important role for Canadian consumers and that the timing is perfect for Namaste to not only help the team at Lowell take advantage of the opportunity in Canada but also to help them explore the international marketplace.”
Terms Of The Deal
The company stated that the terms of the agreement are as follows:
· Namaste will secure supply of high-quality cannabis and produce Lowell Smoke’s branded products on-site at Cannmart.
· Lowell Smokes will provide packaging and branding guidelines, in compliance with Health Canada regulations.
· Lowell Smokes will pay a monthly rental fee that will include storage and overhead costs to Cannmart.
· Lowell Smokes will pay Namaste a 5% royalty fee for all products sold through Cannmart.
· Lowell Smokes will provide Namaste with wholesale prices for non-cannabis products that will be sold through Namaste’s e-commerce platform.
Stock Performance
Namaste stock was lately trading at $1.24 on the OTC Markets, down from its 52-week high of $3.47, but above its year low of 13 cents. On the Toronto Venture Exchange, the stock was trading at C$1.61, not far from its year high of C$1.75. Namaste said it will continue to pursue strategic partnerships where it can leverage their e-commerce and technology platform to provide value to brands like Lowell Smokes.
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