Medicine Man Technologies Archives - Green Market Report

Adam JacksonAugust 12, 2022
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7min1980

Schwazze (OTCQX: SHWZ) posted positive results on Thursday as the company expands in its quest to become a commanding regional MSO.

The Colorado-based seed-to-sale operator — formerly known as Medicine Man Technologies — delivered its second-quarter financial report card ending June 30, 2022.

Schwazze delivered approximately $44.3 million in total revenue during the period, a 44% gain versus the same period last year — right in line with the Yahoo Finance Average analyst estimate for revenues of $44.26 million.

The company said that the increase was due to rising sales of its products as well as revenue from its new retail acquisitions. Additionally, the company is finding profits in newly-recreational markets such as New Mexico since April.

Schwazze said that wholesale revenues in Colorado decreased due to “increased cultivation capacity in the state resulting in an over-supply of wholesale cannabis materials.”

The company also reported a net income of $33.8 million versus a net loss of $4.4 million in the same period last year. The gain is a reversal after losing $26.8 million in the previous quarter.

Diluted earnings per share in the fourth quarter was $0.24 cents versus diluted earnings per share of eight cents in the same period last year — above a diluted loss per share of six cents in the previous quarter, according to SEDAR filings.

“Similar to the rest of the country, the cannabis industry in Colorado is also experiencing a slowdown in growth compared to the last couple of years,” CEO Justin Dye said. “Schwazze, however, is demonstrating that our regional strategy, built on a customer-first approach, developing significant scale, building brands, and leveraging data analytics and technology is not only sound but gaining momentum as demonstrated by revenue and unit sales growth, customer loyalty and by once again outpacing the legacy market growth by approximately 12%.

We believe this model will travel well to other states as we find attractive opportunities. Despite share price weakness driven by broader market influences, we remain bullish on our business and have conviction that as Schwazze continues to deliver superior operating results that our shareholders will be rewarded.”

Schwazze is lowering its guidance for 2022 revenue, citing “challenging Colorado market conditions.” Schwazze’s new forecasted range for revenue is $175 million$200 million, far below a range of $220 and $260 in the previous quarter. Adjusted EBITDA guidance is estimated to be $60 million$72 million, down from previous quarter expectations of $70 to $82 million profit.

“During Q2 we focused on completing integration of our acquisitions and made sure that we used our resources effectively,” said CFO Nancy Huber. “We are focused on reducing operating and SG&A expenses and judiciously investing growth capital to ensure adequate liquidity and profitability despite difficult market conditions in Colorado, which we believe to be transitory and temporary. Our balance sheet remains strong, and we have ample liquidity.”

“We are focused on delivering positive cash flow net of acquisition costs for the year while driving organic growth and making smart acquisitions,” she added.

Adjusted EBITDA was $15 million in the second quarter of 2022, versus earnings of $10 million in the same period last year.

Seeing It Through

The dialogue from leadership this quarter is one a bit more optimistic than the previous.

“As we continued our successful transformation into a Regional MSO in the first quarter of 2022, we met certain challenges, including the comparison cycling of an inflated Q1 2021, which was aided by stimulus checks and COVID lockdowns,” Dye said at the time. “Colorado’s high COVID rates during Q1 2022 also impacted sales and internal staff. The devastating Marshall Fires in and around Boulder in January of this year, caused one store to temporarily close and the store has been further impacted due to a displaced population in and around Boulder County.

Also, overall sales and a decrease in wholesale revenue was largely impacted by wholesale distillate pricing pressure and over-supply in the state of Colorado.”

Dye at the time did, however, express that he remained optimistic that the company would see rising profits as its expansion efforts bore fruit in emerging state markets.

Cannabis deal tracker Viridian Capital Advisors issued a “Buy” rating at a $2.55 price target for the company in last September, calling Schwazze a “profitable and cash generating operator in Colorado with a meaningful and scaling presence in the to-date fragmented state,” wrote Director of Equity Research Jonathan DeCourcey.

“We expect MSOs to increasingly target large established markets like Colorado to support growth in the absence of interstate sales,” DeCourcey wrote. “Furthermore we expect expansion to come in the form of large scale acquisitions of companies that can be plug-and-play contributors to results in order to excite investors and boost valuations. We believe GAGE’s recent takeout by Terrascend and Harvest’s Trulieve deal highlight this theme.

In our view, Schwazze would be a solid takeout candidate for any MSO with Colorado aspirations. We believe even the perception of an acquisition is likely to drive upside in the stock from current levels.”


Debra BorchardtApril 21, 2020
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3min701

Medicine Man Technologies Inc. (OTCQX: MDCL) has switched its name to Schwazze (pronounced SHHwahZZ). The company said the new branding reflects its goal to create a dynamic, innovative culture and brand identity while supporting the current and future house of brands as Schwazze continues to grow. Effective, Tuesday, April 21 the Company will begin trading under the Schwazze name and OTC ticker symbol SHWZ.

The company said that Schwazze originates from its proprietary cultivation technique from the Three A Light methodology, which stimulates plant growth and health. The new corporate brand Schwazze inspires a call to action to innovate, grow and nurture plants, products, experiences, and environment to benefit the human experience.

“We are excited to bring this new brand to life to further realize our vision of becoming the most admired cannabis company by positively impacting the health, well-being, and happiness of our customers, team members and communities,” said Shane Sampson, Chief Marketing and Merchandising Officer of Schwazze. “Last year the Company set out to make major changes within the Colorado cannabis industry with Colorado House Bill 19-1090. Our new brand, Schwazze enables differentiation as a true leader across all facets of cannabis and marks the next stage of our strategic growth. After finalizing the announced acquisitions, Schwazze will be one of the largest vertically integrated cannabis operators from seed to sale. We are proud to be building a great cannabis company at Schwazze.”

Mesa Organics Purchase

The company also said that it completed its acquisition of Mesa Organics and its Purplebee’s business.

The closing of Mesa Organics represents the first of the company’s previously announced pending acquisition it has entered into in Colorado with established and proven cannabis companies. The company set these acquisitions in motion after a Colorado law change, House Bill 19-1090, allowed for public-company ownership—a law the company’s leadership lobbied on behalf of for years. After finalizing these acquisitions, Schwazze will be one of the largest vertically integrated cannabis operators. Upon the completion of its announced acquisitions, the Company’s portfolio will consist of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, and robust product innovation and development all under one entity.

Mesa Organics operates four dispensaries throughout southern Colorado in Pueblo, Ordway, Rocky Ford, and Las Animas. Purplebee’s is a leading pure CO2 and ethanol extractor and manufacturer, as well as a producer of cannabis products for some of the leading edible companies across the state.

 


Debra BorchardtMarch 12, 2020
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3min1370

Medicine Man Technologies Inc. (OTCQX: MDCL) become the first publicly-traded company to receive suitability approval by the state of Colorado. The Marijuana Enforcement Division (MED) has approved the company’s application for suitability.

“We are thrilled that Medicine Man Technologies is the first publicly-traded company to receive suitability approval. This is a huge milestone in our march to become the largest cannabis company in Colorado,” said Justin Dye, Chief Executive Officer. “We appreciate the responsibility of running a credible cannabis company and are laser-focused on merging Colorado’s leading cannabis companies into one organization with a true focus on consumers.”

Last year, the Colorado legislature passed, and the Governor signed House Bill 19-1090 which allowed publicly traded companies to own Colorado cannabis licenses. The state has a mandated review designed to ensure that companies are suitable to run an above-board and compliant cannabis company.

Medicine Man Technologies said it has entered into agreements with 11 premier cannabis operators across Colorado to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Once the company closes on this series of pending acquisitions, it will have 13 cultivation operations, five product manufacturing operations, 34 dispensaries, and product development and innovation all under a single entity.

Last year the company went on a spending spree. The company bought Roots Rx, a cannabis operator with six dispensaries located in the ski and mountain towns of Colorado. As part of the deal, the company got Roots Rx’s outdoor cultivation facilities located outside of Aspen. RootsRx cost $15 million and was also a combination of cash and stock. It acquired Colorado Harvest Company, which operates two dispensaries in Denver and one in nearby Aurora. That deal cost $12.5 million and was also a combination of cash and stock.

The company also said last year that it was picking up an additional four unnamed dispensaries for $36 million. Williams added, “This proposed acquisition of these additional dispensaries will continue the expansion of our retail presence in Colorado.”

 


William SumnerSeptember 11, 2019
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4min990

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

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a binding term sheet to acquire the cannabis operator Strawberry Fields for $31 million. The acquisition is comprised of $14 million in cash and $17 million in common stock, priced at $2.98 per share. “The integration of Strawberry Fields into our family of Colorado pioneers will be impactful,” said Andy Williams, Co-Founder and CEO of Medicine Man Technologies. “This transaction will provide our Company with low-cost cultivation assets located in Pueblo, a growing manufacturing facility, and branded products. In addition we will be acquiring four retail locations in Western and Southern Colorado, including a high yielding store that is a leader in that part of the state. Adding Strawberry Fields to our portfolio will strengthen our strategy to become the leading integrated cannabis operator of Colorado.”

Tilray

After the market close yesterday, Tilray Inc. (NASDAQ: TLRY) announced in an 8k-filing that it has selected Cowen and Company to sell up to $400 million in stock once an S-3 registration statement is effective, with any sales to be an “at-the-market offering.”

Vapen MJ

Vapen MJ Ventures (OTCQX:VAPNF) announced the appointment of Arizona Attorney Scott A. Hill to the company’s advisory board. Hill is a patent attorney and former stock broker licensed to practice law in the state of Arizona and in the United States District Court for the District of Arizona. “Scott was instrumental in successfully working with the USPTO for Vapen MJ’s utility patent for our Cannabinoid Inhaler without a heating element. Scott crafted the claim in the filing, which makes the recently granted patent as broad as possible,” commented Thai Nguyen, Founder and CEO of Vapen MJ.

Aurora Cannabis

Aurora Cannabis (NYSE: ACB) announced the release of its financial results for the fourth quarter, ending on June 30, 2019. Net revenue for the quarter rose by 61% to $94.6 million. The cost-per gram sold declined t0 $1.14. The gross margin was 58% and adjusted EBITDA was a loss of $11.7 million. “In 2019 Aurora took its place as the global leader in cannabis production, research, innovation, and international market development. We are executing on all our strategic priorities,” said Terry Booth, Aurora CEO. “Our best in class cultivation methods allow us to grow consistent, high-quality cannabis at scale.”


William SumnerSeptember 9, 2019
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5min1380

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

On the Site

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has been on a dispensary buying binge this past couple of weeks. Today the company has added to that list of newly acquired properties. The company said it would be buying four additional dispensaries in Colorado from a leading cannabis retailer. The company’s total dispensary count will grow to 27 upon the successful closing of all the pending acquisitions.

Cannabis Meets Fashion At New York Fashion Week

Fashion met cannabis this past weekend as Project Runway Allstar, Korto Momolu, partnered with Women Grow, the largest network of women in the cannabis and hemp industries for a runway show spectacular. The combination of high fashion and activewear emblazoned with the Women’s Grow logo was well-received by an enthusiastic audience.

Medical CCAs 101 (Cannabis Cooperative Associations)

This article describes the additional financial benefits of moving flower from cultivator to consumer through a CCA as medical cannabis rather than as adult-use cannabis.

In Other News

Aurora Cannabis

Aurora Cannabis Inc. (NYSE: ACB) has closed its previously announced amended and upsized credit facilities with a syndicate of lenders led by the Bank of Montreal. This consist of C$160 million in term loans and a feature enabling to company to upsize the facility by approximately C$40 million, in addition to the original C$200 million in credit facilities. “We are very pleased to now have three of the five largest Schedule 1 Canadian banks in our syndicate, along with increased participation from other key syndicate partners,” said Terry Booth, CEO of Aurora.

Tilray

Tilray Inc. (NASDAQ: TLRY) announced that it has signed a definitive merger agreement with Privateer Holdings, which is the company’s largest stockholder. Under the agreement, the parties will effect a downstream merger of Privateer with and into a wholly-owned subsidiary of Tilray, with the Tilray subsidiary surviving the merger, and the issuance by Tilray to Privateer equity holders of newly issued and registered shares of Tilray common stock and options to purchase shares of Tilray common stock in an aggregate amount equal to the number of Tilray common shares currently held by Privateer.

Sunniva

Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) announced that its that its wholly owned subsidiary, Natural Health Services Ltd. (NHS) has been named in a class action lawsuit filed in connection with a previously reported privacy breach of the Electronic Medical Record system used by NHS. “From the time we initially became aware of this issue, we have taken all the necessary steps to prevent a situation like this from happening again in the future,” said Dr. Mark Kimmins, President of NHS. “We continue to work with law enforcement and the Office of the Information and Privacy Commissioner of Alberta in the ongoing investigation into this matter.”


Debra BorchardtSeptember 9, 2019
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5min1270

Medicine Man Technologies, Inc. (OTCQX: MDCL) has been on a dispensary buying binge this past couple of weeks. Today the company has added to that list of newly acquired properties. The company said it would be buying four additional dispensaries in Colorado from a leading cannabis retailer. The company’s total dispensary count will grow to 27 upon the successful closing of all the pending acquisitions.

Medicine Man Technologies will spend $50,096,413 for the four dispensaries, which will be a combination of $25,048,206.50 in cash and 4,202,720 shares of its common stock at a price of $2.98 per share, with a deferred cash payment of $12,524,103.25 to be made 12 months following the initial closing date.

“These four dispensaries to be acquired culminate a tremendous run over the last week in which we announced the planned acquisitions of 22 dispensaries in Colorado,” commented Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies.  “With an estimated 35% EBITDA margin, these retail stores are collectively expected to be some of the most profitable in our portfolio. We seek acquisition targets that meet strict operational and financial criteria, such as having a seasoned management team, commitment to high-quality products and services, and strong revenue growth.”

RootsRx

Last week Medicine Man Technologies said it was buying Roots Rx, a cannabis operator with six dispensaries located in the ski and mountain towns of Colorado. As part of the deal, the company will also get Roots Rx’s outdoor cultivation facilities located outside of Aspen. RootsRx cost $15 million and was also a combination of cash and stock. The six dispensaries that will be acquired in this transaction are located in AspenBasaltEagleVailEdwardsLeadville, and Gunnison.

More Deals

Also last week, the company said it was buying Colorado Harvest Company, which operates two dispensaries in Denver and one in nearby Aurora. That deal cost $12.5 million and was also a combination of cash and stock. Still not done, the company also said it was picking up an additional four unnamed dispensaries for $36 million. Williams added, “This proposed acquisition of these additional dispensaries will continue the expansion of our retail presence in Colorado.”

TJ Joudeh, the Managing Partner of the group of retail operations being acquired by Medicine Man in this transaction, commented, “We are excited to join the Medicine Man Technologies team to create a profitable and vertically integrated cannabis company. Combining our retail experience with the deep product supply of award-winning cannabis products from Medicine Man Technologies will be an incredible development for both companies as well as for consumers.

Starbuds’ five dispensaries were grabbed for $31 million last week as well. “Adding these five dispensaries to our Colorado operations will make our vertical supply strategy more efficient and help us grab additional market share through added retail capacity,” said Williams. “The Starbuds dispensary operations are truly top-tier in terms of brand, revenue-per-location, and profit across the cannabis retail industry.”

 

 


Debra BorchardtAugust 12, 2019
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8min550

It’s time for your Daily Hit of cannabis financial news for August 12, 2019.

On The Site

CannTrust

After the market closed on Friday, CannTrust Holdings Inc. (NYSE: CTST)said it received a report from Health Canada telling the company that “Its manufacturing facility in Vaughan, Ontario has been rated non-compliant with certain regulations.”CannTrust stock is dropping over 25% to lately trade at roughly $2.26 in pre-market trading as shareholders learn about the continuing problems with the facilities causing more uncertainty.

The news that the company’s facility has failed a recent inspection is troubling because it was supposed to have addressed problems from previous inspections in which the company was found to be growing cannabis in rooms that hadn’t received licenses.  Health Canada has said that it is currently unable to provide any guidance about the timing or content of its decisions regarding CannTrust.

Saving Money

On August 6th we published an article that illustrated the savings for consumers and additional profits for cultivators that could be produced through the use of a properly organized Cannabis Cooperative Association (“CCA”). This article describes the savings for consumers and the additional profits for cultivators in the movement of cannabis in the form of extracted oil.

As we have said on multiple occasions, a CCA is the most financially efficient structure for engaging in business in California’s cannabis industry. The utilization of a CCA for the movement of cannabis as extracted oil produces even greater price reductions for consumers and increased profits for cultivators than with flower. This occurs because more costs are incurred between the cultivator and the consumer in the movement of extracted oil than in the movement of flower.

Novel?

It was announced on January 2019 that the European Food Safety Association, EFSA is about to make a decision in order to classify CBD oil and other CBD products as a novel food. This decision was announced at the Novel Food Commission meeting which was held in Brussels in 2016. This led to a final imminent decision very soon and EFSA considered CBD products as Novel Food.

In recent times, there has been tremendous growth in food products available in the market which eventually included Cannabidiol. And, according to reports, it is clear that the European CBD Market is going to encounter a boom in the near future. Eventually, the regulators started taking a closer look at the CBD products and oil available in the European market.

In Other News

MediPharm Labs

MediPharm Labs (MEDIF) reported that its second-quarter revenue was $31.5 million, a 43% increase over Q1 2019, reflecting Canadian cannabis extraction-only industry and the ramp-up of new committed contracts. Gross Profit was $11.3 million, a 65% increase over Q1 2019, while Gross Margin was 36% compared to 31% in Q1 2019, reflecting increased production and production efficiency that continues to improve as the Company realizes economies of scale. Adjusted EBITDA was $7.7 million, 79% higher than Q1 2019, while Adjusted EBITDA margin was 24% compared to 20% in Q1 2019. Net income before tax was $4.1 million compared to a net loss of $0.3 million in Q1 2019

MariMed

MariMed (MRMD) report that its revenues for the second quarter of 2019 were $25.7 million, up 774% compared to $2.9 million in the same year-ago quarter. The increase in revenue was primarily the result of hemp seeds sales totaling $25.2 million dollars, of which $22.0 million was recognized in the quarter. The remaining revenue is expected to be recognized in the third and fourth quarters of 2019 upon payment from the buyer. Revenues excluding the hemp seed sales increased 24% to $3.7 million versus the year-ago quarter.

Gross profit for the second quarter of 2019 was $8.9 million or 34.8% of revenues, up 341.1% from $2.0 million or 68.9% of revenues in the same quarter from a year ago. Gross profit in MariMed’s core businesses as a percentage of revenues increased to 72.4% in the second quarter of 2019 from 68.9% in the year-ago quarter. Net income for the second quarter of 2019 was $4.7 million or $0.02 per fully diluted share, improving from a net loss of $393,000 or $(0.00) per basic share in the year-ago quarter.

Medicine Man Tech

Medicine Man Technologies, Inc. (OTCQX: MDCL) announced that it has entered into a binding term sheet to acquire Colorado-based Dabble Extracts, an award-winning cannabis concentrate company that specializes in processing medical and recreational marijuana into premium-grade extracts.

Under the terms of the term sheet, the company will pay $3,750,000 for Dabble Extracts. The purchase price will consist of $750,000 in cash and 996,678 shares of common stock priced at $3.01/share, which is the average closing price of the Company’s stock for the five trading days prior to August 6, 2019. The terms can also be referenced in the 8-K, which outlines the closing conditions. The obligations of the Company and Dabble Extracts under the term sheet are conditioned upon the satisfaction of mutual waiver of certain conditions, including regulatory approval.

Nabis

Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF has entered into a Definitive Agreement for the acquisition of 100% of the membership units of a licensed medical marijuana business in the state of Arizona.

The Asset, licensed under the provisions of the Arizona Medical Marijuana Act, operates a dispensary in Phoenix, Arizona. The dispensary in Phoenix has been operating since 2015 with proprietary branded products and wholesale operations, including an established distribution network serving more than 50% of the dispensaries in Arizona.

The audited sales for 2017 and 2018 were USD $7.4 million and $8.7 million respectively.  2019 unaudited revenue is on pace for sales of USD $9 million. The dispensary specializes in top-tier flower, vape pens, concentrates, edibles, tinctures, and CBD products.

 


William SumnerJune 6, 2019
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6min1060

It’s time for your Daily Hit of cannabis financial news for June 6, 2019.

On the Site

Cresco Capital Partners

Cresco Capital Partners (Cresco Capital) announced today that it has closed an oversubscribed fund of $60 million. Founded in 2014, Cresco Capital was one of the first and largest private equity firms to focus solely on the legal cannabis industry.

Italian court bans cannabis derivatives, in blow to popular sector

Italy’s top court has banned the sale of cannabis products, on the heels of threats by the country’s deputy prime minister to close shops who sell legal derivatives of the plant. Deputy Prime Minister and far-right League leader Matteo Salvini had declared war on so-called “cannabis light” shops in the run up to the European Parliament elections.

In Other News

Harborside

Harborside Inc. has announced that it has filed its listing statement with the Canadian Securities Exchange and that it will begin trading shares of the company on June 10, 2019 under the ticker symbol “HBOR.” “The start of trading represents a significant milestone for Harborside, and we’re grateful for the support that we’ve received from the CSE throughout the process,” said Harborside CEO Andrew Berman. “We’re excited to move forward as a public company, with a vehicle that attracts growth capital from new investors, and continue maintaining Harborside’s status as California’s premier cannabis operator.”

PharmaCielo Ltd.

PharmaCielo Ltd. (TSXV: PCLO) has entered into an implementation agreement to acquire all of the issued and outstanding shares and listed options of the global medical cannabis company Creso Pharma Ltd. for A$122 million. Under the agreement, PharmaCielo will pay A$0.63 per share, which is a premium of 50% over the closing trading price of the Creso Pharma shares on May 31, 2019. “PharmaCielo’s acquisition of Creso Pharma, harnessing the synergies between us, creates a combined company that is poised to become a global powerhouse in the medicinal cannabis industry,” said David Attard, CEO of PharmaCielo. “Upon closing of the transaction, the combined company will quadruple our global footprint with presence in more than a dozen countries spanning North and Latin America, Switzerland, Europe, the Middle East, Australia and New Zealand.”

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA: ARAH) reports that it is offering 35,000 convertible debenture units of the company, at a price of $1,000 per unit, for a total of $35 million. Leading the offering is Mackie Research Capital Corporation and BMO Capital Markets, which is acting on behalf of a syndicate of agents including Canaccord Genuity Corp.  The proceeds of the offering will be used for working capital requirement and other general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a securities purchase agreement for the sale of up to $14 million of the company’s common stock from an affiliate of the private equity firm Dye Capital & Company. The company will use the proceeds to fund growth initiatives. The company also announced a series of pending acquisitions, including MedPharm Holdings, Colorado’s first licensed cannabis research & phytopharmaceutical company; Medicine Man Denver; Los Sueños Farms,  North America’s largest sustainable cannabis farm; and Mesa Organics, a cannabis products manufacturing company. “Dye Capital is the right partner for our Company with a unique set of skills and experience in merger and acquisition transactions, integration experience, and scaling operations.  Our entire team is excited about teaming with Dye Capital,” said Medicine Man Technologies Co-Founder and CEO Andy Williams.


William SumnerJune 5, 2019
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4min3820

It’s time for your Daily Hit of cannabis financial news for June 5, 2019.

On the Site

Free Advice For California’s Cannabis Tax Collection

Everyone knows the maxim “Free advice is worth what you pay for it”  There are, however, exceptions.  Everyone knows a second maxim “The exception that proves the rule”  In this article, we provide free advice to the California Department of Tax and Fee Administration (“CDTFA”).

Creative Digital Methods For Effectively Marketing A Cannabis Company

One of the most interesting and exciting elements to the, now emerging, legalized cannabis trade is how cannabis’ image, its past connotations and all of the potential uses that it has open to it, affects its sales and sales potential. Given that we’re talking about image, we’re really talking about marketing, and how you could creatively market something which was previously not only illegal most places, but actively frowned upon…

In Other News

Gabriella’s Kitchen

Gabriella’s Kitchen Inc. (CSE: GABY) (OTCQB: GABLF) announced that it has upsized a previously announced private placement offering of C$10 million units of the company up to C$20 million. Advised by its lead underwriter, GMP Securities L.P., the company has structured the upsized offering with a base of up to C$16 million with an over-allotment option of C$4 million. The proceeds of the offering will go towards capital expenditures, potential acquisitions, brand and sales investment, working capital, and general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) announced that it has entered into binding term sheets to acquire Colorado-based Los Sueños Farms, LLC, North America’s largest sustainable cannabis farm, and Mesa Organics Ltd., a cannabis dispensary and infused products manufacturing company. The acquisition was made possible through the passage of the Colorado measure House Bill 19-1090, which opens Colorado’s cannabis industry to outside investors.

Green Thumb Industries

Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) has announced that it has closed its acquisition of Integral Associates. Included in the acquisition is Integral Associates’ three high-traffic Essence retail stores located in the Las Vegas area, including the only cannabis retail store on the Las Vegas Strip; eight additional retail licenses in Nevada; a retail license in West Hollywood; Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility; and Cannabiotix NV, a 41,000 square foot cultivation and processing facility.


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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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 Subscribe

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