Namaste Archives - Green Market Report

StaffStaffAugust 26, 2019
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6min3880

It’s time for your Daily Hit of cannabis financial news for August 26, 2019.

On The Site

Khiron Life Sciences

Latin American cannabis company Khiron Life Sciences Corp. (TSXV: KHRN)(OTCQB: KHRNF) stock slid on news of the company’s second-quarter earningsKhirondelivered a net loss for the three months ending June 30, 2019, of $10.6 million or $0.11 per share versus last year’s net loss of $6.2 million causing the company stock to drop by over 4% to lately trade at $1.15.

Khiron reported that its revenues of $2.2 million came from the sale of services at its clinics and sale of its cosmeceutical products, both of which began in the fourth quarter of 2018. The company said that revenues were in line with expectations and gross profits were consistent with the first quarter of 2019.

Golden Leaf

Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) reported that its second-quarter total revenue was $4.3 million as compared to $3.7 million for the same three-month period in 2018 ending June 30.  The company said that the 17% quarter-over-quarter increase was due to strong wholesale revenue streams in Oregon and flower sales from our Canadian operations.

The company also delivered a net loss of $3.4 million or $0.01 per share, compared with a net gain of $3.2 million or US$0.01 per share for Q2 2018. The company noted that last year’s net income benefited from favorable changes in the fair value of warrants and debt liabilities of $7.3 million, versus this year’s unfavorable change of $0.1 million for the second quarter.

James E. Wagner

Ontario-based  James E. Wagner Cultivation Corporation (TSX VENTURE: JWCA)(OTCQX: JWCAF) reported third fiscal quarter revenue of $749,000, up 32% sequentially from $566,000, and compared to $3,500 in the same year-ago quarter. The net and comprehensive loss was $434,000 or $(0.01) per share in fiscal Q3 2019, improving 87% sequentially from $3.4 million or $(0.04) per share, and improving 91% from $4.6 million or $(0.06) per share in the year-ago quarter.

Party Bus Legislation Advances

A bill is moving forward that would outlaw smoking and vaping in commercial vehicles unless the driver has separate ventilation.

“Much like tours for wineries and breweries, cannabis party buses have sprouted all over California, and a bill designed to rein in the festivities could soon become law. Senate Bill 625, introduced by State Senator Jerry Hill in February, was approved by the California State Assembly’s Appropriations Committee on Wednesday.

The bill, if implemented, would bar passengers from smoking or vaping cannabis products in buses, limousines, and taxicabs, with an exception for limousines and buses whose passenger and driver compartments are completely sealed off and separately ventilated. The bill would also prohibit anyone under twenty-one from being on board in the presence of cannabis smoke.”

In Other News

TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) announced it has received approval for Depository Trade Clearance (DTC) settlement services. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investor

Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced that its board of directors has named Meni Morim as chief executive officer and appointed him to the Company’s board of directors. Meni has served as the Company’s interim CEO since February 4, 2019 and the Company’s Chief Product Officer since May of 2018.

Headset is launching its competitive intelligence tool, Headset Insights, in Canada. Recreational cannabis has been legal country-wide in Canada since October 2018, and the young and growing market is still developing. This will be Canada’s first retail-derived cannabis market read based on aggregated Point of Sale data at the receipt-level.

Headset Insights will first be available in Alberta, the province with the most robust private retail footprint. With Headset Insights, businesses in and out of the cannabis industry will be able to understand the competitive landscape, identify opportunities and measure brand performance. The platform will give brands, licensed producers, retailers and investors the information they need to be a competitive player in this marketplace.

Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF) today announced it has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to operate a medical marijuana company in the state. Assets include a manufacturing and cultivation facility in Schenectady County and a retail store in each of the following locations: Manhattan, Rochester, Halfmoon and Nassau County, three of which are open.

 


Debra BorchardtDebra BorchardtMarch 6, 2019
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5min10330

Namaste Technologies Inc.  (TSXV: N)  (OTCMKTS: NXTTF)  continues to see its troubles compounded following the recent scandal involving the company’s founder and former CEO Sean Dollinger. On Wednesday the company confirmed that its auditor PricewaterhouseCoopers, LLP resigned and will no longer be acting as the company’s auditor. Namaste said it was in advanced discussions with potential successor auditors, one of whom is in the final stages of its client acceptance process.

As a result of this situation, the company said it would probably be unable to file its financial statements that are due by March 31, 2019.

Irregular Advertising in Brazil

Namaste also noted that the National Heath Surveillance Agency (Anvisa) in Brazil advised the company that it has identified irregular online advertising of certain tobacco products on a website operated by Namaste and have advised that they are proposing to commence administrative proceedings in relation to same. As a result, Namaste is “temporarily suspending the sale of all of its products in Brazil pending a full compliance review with external counsel and other advisors. Sales of such products in Brazil are expected to represent approximately 8% of Namaste’s estimated revenue globally for the 15 months ended November 30, 2018.”

Suspension of Businesses

Namaste said it was reviewing all of its initiatives and as a result decided to let some of them go. These include the introduction of Namaste Café, a cook book and the H.E.A.L. product line in relation to its previously announced franchise distribution model. In addition, Namaste said it has “provided formal written notice of the termination of its agreement with ORH Marketing Ltd., in accordance with its terms. Management believes that the termination of these marketing and related initiatives can be achieved with minimal business disruption, and is expected to result in annual cash savings of approximately $3 million, which is net of expected transition costs.”

Acquisition

Somehow, in the middle of all this corporate mess, Namaste announced that it was acquiring 49% of the issued and outstanding shares of Calgary, AB-based Choklat Inc. for $1.5 million in cash.

According to the statement, Choklat is a  chocolate manufacturer with existing sales through its online eCommerce site and through a network of distributors across Canada. Choklat has recently entered into a supply relationship with Sobeys and already has product in 25 stores in Alberta with a goal to roll out in Western Canada and beyond in the coming months. As part of the acquisition, Namaste will be appointing a member to the Board of Choklat.

“Choklat is a great acquisition for us with a vast offering of existing products that can be easily infused with THC or CBD and sold as edibles,” said Meni Morim, Interim CEO of Namaste Technologies Inc. “Their small batch manufacturing model is a great fit within the new proposed regulations for edible cannabis products. This transaction provides the security of supply and manufacturing for our medicinal cannabis customers and provides capacity for the recreational market in the event proposed regulations are passed.”

“Almost two years ago I used my own prescription to personally research the concept of infusing chocolate and sugar with cannabis,” said Brad Churchill, Choklat Founder, and CEO. “As one of the only chocolate makers in Canada I had access to equipment and processes that other chocolatiers and confectioners don’t have.  My research led me to discoveries which, when legal, will allow us to infuse both THC and CBD into chocolate and sugar in such a way that there is absolutely no discernible “weed” flavour or smell, and with a dosage accuracy that is almost pharmaceutical grade.”


StaffStaffFebruary 4, 2019
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4min5530

It’s time for your Daily Hit of cannabis financial news for February 4, 2019.

On The Site

Namaste Tech

Namaste Technologies Inc.  (NXTTF)  has fired CEO Sean Dollinger and could be reviewing selling the company. The Canadian-based cannabis company said that following an investigation by a Special Committee of the Board of Directors, the Board terminated Dollinger for cause and removed him from his position as Director, effective immediately. The company has appointed Meni Morim as its interim CEO and also appointed Darren Gill as Chief Strategy Officer.

MedMen

MedMen Enterprises Inc. (MMNFF) is facing a new lawsuit from the company’s former Chief Financial Officer James Parker. Parker filed his case on January 29 in the Superior Court of California in the County of Los Angeles claiming wrongful termination for an undetermined amount of damages.

MedMen spokesman Daniel Yi said that the company was unable to respond to the filing because it had not been officially served, but would do so once that happened. “These are baseless claims and we’ll defend ourselves vigorously in court,” said Yi.

LB Equity

LB Equity has raised $50 million for a portfolio titled LB Equity Emerging Growth Fund, which will be concentrating its investments in cannabis companies that are involved in beauty, health, and wellness. The company’s first investment is with the platform Standard Dose, which is dedicated to selling hemp-based CBD products as well as educating consumers on these new products. The company did not announce how much of an investment it made into Standard Dose.

In Other News

Canopy Rivers

Canopy Rivers Inc. (TSXV:RIV) entered into an agreement with CIBC Capital Markets and Eight Capital to purchase, together with a syndicate of underwriters, 11,500,000 subordinated voting shares of the Company on a “bought deal” basis at a price of $4.80 per Subordinated Voting Share for gross proceeds of approximately $55.0 million.

Canopy Rivers completed a subsequent $9.4 million equity investment in its portfolio company Canapar Corp., the Canadian parent corporation of Canapar SrL, an Italy-based organic hemp production and processing platform. The investment aligns with the company’s global-focused growth strategy and is expected to provide the company with the opportunity to capitalize on the rapidly expanding European cannabidiol market.

GrowGeneration

GrowGeneration Corp. (OTCQX: GRWG) has purchased certain assets of BWGS, LLC. The transaction includes purchasing all the inventory of BWGS, as well as all their branded products.

Supreme Cannabis

Navdeep Dhaliwal, CEO and Director, The Supreme Cannabis Company, Inc. (FIRE), joined Michael Kousaie, Vice-President, Strategy and Product Innovation, Toronto Stock Exchange and TSX Venture Exchange, to open the market. The Supreme Cannabis Company, Inc. graduated and began trading on Toronto Stock Exchange on February 4, 2019.


Debra BorchardtDebra BorchardtFebruary 4, 2019
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6min24252

Namaste Technologies Inc.  (NXTTF)  has fired CEO Sean Dollinger and could be reviewing selling the company. The Canadian-based cannabis company said that following an investigation by a Special Committee of the Board of Directors, the Board terminated Dollinger for cause and removed him from his position as Director, effective immediately. The company has appointed Meni Morim as its interim CEO and also appointed Darren Gill as Chief Strategy Officer.

Special Committee Investigation

Namaste came under a short seller attack by Citron Research in October 2018 which caused the board to form a Special Committee to investigate the allegations. The only one that was substantiated and required action according to the company was related to the sale of Namaste’s US subsidiary, Dollinger Enterprises US Inc., in 2017, and subsequent transactions involving its assets and companies in which Sean Dollinger and Namaste’s head of marketing David Hughes have a beneficial interest, as well as breaches of fiduciary duty by Sean Dollinger and evidence of self-dealing. The company said it is also  taking legal action against Dollinger for damages and disgorgement.
Citron Accusations
Citron accused Namaste in saying it was planning on listing on NASDAQ in order to bring in investors. “Fake claim of a Nasdaq Listing to get investors to buy the stock. Mr. Dollinger has promised investors a Nasdaq listing and the simple takeaway that comes with it, a higher share price on the back of an up-listing.”

Next, it claimed there was an issue with the sale of Dollinger Enterprises US, which it seems turned out to be true. “With the hope of obtaining the NASDAQ listing on Nov 28, 2017, Namaste announced that it divested of its US assets, Dollinger Enterprises US Inc. Just to be clear, Dollinger said he sold this asset to an arm’s length party… but it was really sold to David Hughes who has been with Namaste since Feb 2015 (and Paul Burn who has been with Namaste since 2016) – can investors trust anything Dollinger says going forward? Namaste has lied to its shareholders, Canadian Regulators, US Regulators; and most of all has attempted to hide US assets from the Justice Department in an attempt to obtain a US listing.”

The report went on to say, “And just in case you say…NOOOO this can’t be our CEO who would do this…just
remember this is the same guy who just three years ago raised money based on the underlying promise of guaranteed returns…the SEC would have nailed him for this but he was living in the Bahamas.”

Strategic Review Process Initiated

The company also stated that the board had initiated a formal strategic review process to consider all value-maximizing alternatives, which could include exploring a potential corporate transaction that may, but not necessarily, result in the sale of the company.  “We are in the process of engaging an investment bank to advise a Special Committee of the Board overseeing the process,” read the statement.

The company went on to state, “Namaste remains in a strong financial position, with cash balances intact, and will continue to execute on its unique and effective business strategy.”

Citron has suggested that the company’s real valuation should be $0.26 a share and the company is currently trading at $1.04.
Sexy Nurses
Things started to go downhill for Namaste in September of 2018 when the company held a “pledge party” stockholders who promised not to sell company shares for 90 days. The party featured women dressed as sexy nurses to sign up patients for its telemedicine portal. The party though was in Quebec which bans telemedicine. Tilray (TLRY) had just signed an agreement with the company but immediately terminated it upon hearing about the party and the promotional activities.


Debra BorchardtDebra BorchardtJuly 5, 2018
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4min7241

It’s time for your Daily Hit of financial cannabis news for July 5, 2018.

The markets were closed on Wednesday in honor of the Fourth of July. Because of the holiday, news has been fairly light this week and today was no exception. It feels like many companies either took the first two days of the week off or the second.

On The Site

Alberta Canada

Several cannabis companies announced signing agreements with the Alberta Gaming, Liquor & Cannabis Commission (AGLC) to supply recreational cannabis to Alberta’s private cannabis retailers and the AGLC’s online cannabis store, www.albertacannabis.org.

Alberta is Canada’s fourth most populated province and is mostly known as being the home to tourist destinations like Banff Park and Lake Louise. Its capital is Edmonton and its largest city is Calgary. The province is known as being a hub for the country’s crude oil industry

Zynerba Pharmaceuticals Inc.

Cannabinoids drug company Zynerba Pharmaceuticals, Inc. (ZYNE) reported that the top-line results from a Phase 1 clinical program studying ZYN001 failed and that it will abandon the drug and instead focus on ZYN002. The shares fell over 20% in pre-market trading, but at the open fell 16% to lately trade at $8.01.

In Other News

MedMen Enterprises Inc.

MedMen Enterprises Inc. (MMNFF) has set the opening date of its second store in Las Vegas for early October 2018. The MedMen Las Vegas Airport store is currently under construction at 4503 Paradise Road, near popular landmarks such as the Hard Rock Hotel, the Thomas and Mack Center and McCarran International Airport.

MedMen received land-use and zoning approval from the Clark County Board of County Commissioners late last month for the new site. The company expects to move an existing license to the location following customary state and local regulatory approvals.

Namaste Technologies Inc.

Namaste Technologies Inc. (NXTTF) has signed a consulting agreement with Cannbit Ltd. where Cannbit will provide domestic consulting services to Namaste that will streamline the Company’s Israeli operations, expand its platform and increase domestic revenues. Namaste’s recent announcement of its 10% investment in Cannbit, with Cannbit’s intention to publicly list on the Tel Aviv Stock Exchange, is further supported by this strategic partnership.


Debra BorchardtDebra BorchardtJune 18, 2018

4min9140

It’s time for your Daily Hit of cannabis financial news for June 18, 2018.

On The Site

MedMen Enterprises Inc. (MMEN.CN) (MMNFF) announced today that the OTC Markets Group has approved the listing of the Company’s subordinate voting shares on its OTCQB Venture Market under the ticker symbol “MMNFF”. MedMen’s subordinate voting shares will begin trading on the OTCQB at the opening of the market on Monday, June 18th.

In Other News

Aurora Cannabis Inc.

Aurora Cannabis Inc. (ACBFF) announced that it has closed its previously announced $7 million investment in Choom Holdings Inc. whereby Aurora received 9,859,155 common shares from Choom’s treasury, priced at $0.71 per share, representing a 6% ownership interest. In total, Choom issued 14,225,352 shares for total gross proceeds of $10.1 million. All securities issued are subject to a four-month hold period.

Namaste Technologies

Namaste Technologies Inc.(NXTTF) announced that it has signed a subscription agreement to acquire 10% of the issued share capital of Israeli licensed producer of medical cannabis, Cannbit Ltd for NIS 2,500,000 or approximately CAD $ 908,000, which includes a combination of both cash and shares.

According to the statement, Cannbit has also signed a binding agreement to complete a merger with a company listed on the Tel Aviv stock exchange, whereby Cannbit will retain 85% ownership of the combined public entity, the company believes that its investment will be immediately accretive in nature based on the valuation metrics of the transaction which consequently valued Cannbit significantly higher than what Namaste acquired its 10% equity stake for. In anticipation of closing this transaction, Namaste has established a supply arrangement with Cannbit to export cannabis to the Canadian market (subject to approval by Health Canada and the Israeli government), and will also engage with Cannbit to expand the Company’s Israeli-based vaporizer sales platform.

Springbig

Marketing tech company Springbig announced that it has exceeded the 1,000,000 consumer milestone, establishing the company as one of the fastest growing CannaTech companies in the cannabis industry. springbig has quickly risen since its June 2017 launch as the most effective, precise, and efficient technology available in the market.  Through partnerships with some of the leading POS providers in the cannabis space, including Greenbits, Cova, flowhub, Korona, Leaflogix, MJ Freeway andTreez, springbig has worked alongside retailers to send over 12,270 Campaigns and has seen 60,616 rewards redeemed in return! Springbig’s dedication and expertise have allowed retailers to see immediate and significant ROIs on their marketing initiatives.


William SumnerWilliam SumnerApril 9, 2018
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4min8280

Here are the today’s cannabis news briefs for April 9, 2018:

Innovative Industrial Properties
Innovative Industrial Properties (IIPR), a provider real estate capital solutions for the medical cannabis industy, announced today that it has closed on the acquisition of a 89,000 square foot property in Scranton, Pennsylvania, for a price of approximately $5.8 million. The tenant of the property is a subsidiary company owned by Vireo Health, Inc., and is expected to reimburse Innovative approximately $2.8 million for improvements to the building. “We are very pleased to close on this third transaction with Vireo Health in Pennsylvania, projected by many to become one of the largest medical-use cannabis markets in the country,” said Ben Regin, Director of Investments and Finance for Innovative in a statement.

Canopy Growth Corporation

Canopy Growth Corporation (WEED) announced a partnership between its affiliate and biopharmaceutical research arm Canopy Health Innovations and drug research pioneer Lady Amanda Feilding and the Beckley Foundation (“Beckley”). Named Beckley Canopy, the partnership will work towards the research and development of clinically approved cannabis-based medicines. All profits from the work will go towards scientific research and policy work of the Beckley Foundation.”We are delighted to have formed this partnership with Beckley. They have been leading the way in drug policy reform and cannabis research for more than two decades and we feel that our skill-sets complement each other perfectly. This is a unique opportunity to expand our operations, conduct world-class research, and meet the needs of doctors and patients around the world,” said Canopy Health CEO, Marc Wayne.

Namaste Technologies Inc.
Namaste Technologies Inc. (N) announced that it has signed an amended Letter of Intent (LOI), dated April 4, 2018. Under the amended LOI, 2624078 Ontario Inc. will apply for an ACMPR license to cultivate medical cannabis and to sell medical cannabis oil. If the application is approve, the company will be able to test and develop its own cannabis strain for Cannmart. Additionally, 2624078 Ontario Inc. will rename itself Infinite Labz. “We’re pleased to have signed the amendment to the LOI as per our discussions with Namaste. We believe that our company and Namaste will see great value in this partnership and in operating both the LD and LP license from the same facility. There are many synergies that are evident between both parties and the addition of an ACMPR license to the facility at 7 Canso Road will solidify our position becoming a premier provider for medical and recreational cannabis oils and we look forward to a bright future with Namaste,” commented 2624078 Ontario Inc. president, Daniel Stern.


Debra BorchardtDebra BorchardtApril 6, 2018
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4min8200

It’s time for your Daily Hit of cannabis financial news for April 6, 2018:

On The Site:

The OTC Markets Group, which is home to most cannabis stocks, is taking the lead on identifying stock promotions for its investors. Stock promotion isn’t illegal. What is illegal is not being transparent about it. In its latest action, the OTC has set up a “Promotion flag” to warn market participants that the trading could be under suspicion. “For market forces to work, it’s got to be about providing more information so investors can make the right decisions,” said Cromwell Coulson Chief Executive Officer of the OTC Markets Group. “The companies have a responsibility to immediately address information regarding trading rumors. We’ve removed issuers because they weren’t truthful about sponsoring promotions.”

Cannabis blockchain is coming to the Empire State. On April 6, 2018, Alternate Health (AHG), a software solutions provider specializing in the medical cannabis industry, announced that it is expanding its StatePass medical cannabis Electronic Medical Records (EMR) blockchain system into New York and that physician onboarding and initial service testing has already begun.

In Other News:

Cronos Group Inc. (CRON) announced that it closed its previously announced bought deal public offering. A total of 10,420,000 common shares of Cronos Group were sold at a price of $9.60 per share for aggregate gross proceeds of approximately $100.0 million.

Delivra Corp. (TSXV: DVA) completed a non-brokered private placement through the issuance of 3,561,423 units of the company for gross proceeds of $1,246,498.20. Delivra Corp. is a specialty biotechnology company has developed a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner.

Isodiol International Inc.  (ISOLF) announced that it signed a Letter of Intent with Agrima Botanicals Corp, a Canadian Licensed Producer, to import 99.5%+ pure, bioactive pharma-grade cannabidiol isolate into Canada from Isodiol’s GMP-certified production facility in the United Kingdom. Agrima intends to import up to 5,000 g of CBD isolate per month for the purposes of R&D, product formulation and production of pharma-grade derivative products.

Namaste Technologies Inc. (NXTTF) announced March 2018 total unaudited net revenue was C$1,249,670, representing a 74% revenue when compared to March 2017. Namaste’s management team also reported that the company’s wholly-owned subsidiary, Namaste MD Inc. has acquired 535 new medical cannabis patients on the NamasteMD platform, representing a 142% month-over-month increase of patients.

Marapharm Ventures Inc. (MRPHF) said its dispensary in Desert Hot Springs, California continues to increase sales since its acquisition with weekly and monthly promotions. Furthermore, the implementation of a live inventory system has ensured accurate information is relayed in “real-time” to our existing patrons and the 3.5 million visitors to the popular Coachella Valley area.Two of our partner retailer promotions resulted in a 118% daily sales increase when compared to our daily average sales.


StaffStaffMarch 28, 2018
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3min7910

Here are the today’s cannabis news briefs for March 28, 2018

GrowGeneration Corp. 

GrowGeneration Corp. (GRWG) reported that its revenues for the fiscal year 2017 rose 80% to $14.4 million over last year’s $8 million.

This despite the fact that the company had to close its Santa Rosa store due to the California wildfires for 17 days. The company believes the fire cost them $120,000 in lost revenue and then once the store was able to reopen, revenue fell by $100,000 a month. Gross profits for the year increased 48% to $3.3 million versus last year’s gross profit of $2.2 million.

Hydropothecary Corporation

The Hydropothecary Corporation reported its financial results for the second quarter of the 2018 fiscal year. Revenue for the second quarter increased 29%  and was driven mainly by increased sales volume, offset partially by lower average selling prices. Sales of medical cannabis of 131,501 gram equivalent, up 9% sequentially from the first quarter of fiscal 2018 and up 45% year-over-year compared to the second quarter of fiscal 2017.

Aurora Cannabis Inc. 

Aurora Cannabis (ACBFF) announced that it finally closed the acquisition of CanniMed Therapeutics the Company now owns approximately 95.9% of CanniMed’s common shares. Aurora plans to acquire the remaining outstanding shares it does not already own through a compulsory share acquisition, pursuant to the Canada Business Corporations Act.

Namaste Technologies Inc. 

Namaste Technologies (NXTTF) appointed Branden Spikes, Laurens Feenstra and Donald William Nickless for positions on Namaste’s 2018 board of directors. The Nominees and proposed board members have served in critical roles at Google, SpaceX, and Seagram’s International, and bring an intangible amount of value in helping advance the Company’s technology through innovation.

Marapharm Ventures

Marapharm Ventures has been granted both Adult-Use and Medicinal temporary retail licenses, for its retail dispensary operation in Desert Hot Springs, California.

At this time, the State of California has only issued temporary licenses while they develop permanent regulations. The Company will apply, with all other temporary license holders in the State of California, for permanent licenses within the next three months.


Debra BorchardtDebra BorchardtMarch 20, 2018
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4min11190

Here are the cannabis news briefs for March 20, 2018:

 Arena Pharmaceuticals Inc.

Arena Pharmaceuticals (ARNA) reported positive results from a phase 2 trial of its treatment for ulcerative colitis. After the market closed on Monday the company released a statement saying that a higher dose of its experimental drug etrasimod succeeded in improving symptoms associated with ulcerative colitis, a chronic bowel disease, in a mid-stage study. The U.S.-based company said it now plans on moving the drug to late-stage trials. A lower dose did not have such strong results. The company is looking for a positive compound following the lower than expected sales of its weight-loss drug and is hoping this drug will make up for that disappointment.

The Supreme Cannabis Company, Inc.

Supreme Cannabis Company (FIRE.V) announced it has entered into a definitive agreement to complete a C$10,000,000 strategic equity investment in Medigrow. Upon completion of the investment, Supreme will own approximately 10% of Medigrow.

Namaste Technologies Inc.

Namaste (CSE:N) (NXTTF) announced that it has signed a Medical Cannabis Supply Agreement with Marigold Projects Jamaica Ltd. under its wholly owned subsidiary, Cannmart where Marigold will supply Cannmart with high-quality Jamaican produced medical cannabis, to be imported by Cannmart from Jamaica and offered in the Company’s online marketplace, subject to approval by Health Canada and the Cannabis Licencing Authority.

 Invictus MD Strategies Corp.

Invictus MD Strategies (TSXV: GENE) (OTC: IVITF) changed its share ticker from IMH to GENE on the Toronto Stock Exchange Venture Exchange. Invictus changed its TSX Venture symbol from IMH to GENE, effective March 20, 2018, to reflect the importance of the company’s new partnership with rock icon and branding genius Gene Simmons, anticipating that Simmons will play a vital role as the company marches into this historic year for Canada and cannabis.

The Hydropothecary Corporation

Hydropothecary (TSX-V: THCX) has reached an agreement with online commerce company Shopify to build its e-commerce platform for cannabis products. The bilingual website will serve Hydropothecary’s medical customers, provide information for discerning recreational consumers and support engagement with provincial and territorial cannabis retailers.

Friday Night Inc.

Friday Night Inc. (CSE: TGIF) (OTCQB: TGIFF) announced its inclusion in the CSE25 Index which is comprised of the 25 largest companies in the Canadian Securities Exchange Composite Index by market capitalization. The CSE25 Index is a subset of the CSE Composite Index.

Brayden Sutton, CEO of Friday Night, remarked, “We are very proud to be recognized as one of the 25 largest companies on the CSE by market capitalization. The inclusion of the CSE25 Index not only distinguishes our Company as a highly liquid issuer but gives validation to our business strategy and recognizes our impressive growth over the last 9 months of trading.”



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