NASDAQ Archives - Green Market Report

StaffAugust 15, 2022


The Daily Hit is a recap of cannabis business news for August 15, 2022.


Auxly Revenues Improve, Tries to Cut Costs

Auxly Cannabis Group Inc. (TSX: XLY) (OTCQX: CBWTF)  released its financial results for the three months ending June 30, 2022. Total net revenues from the sale of adult-use cannabis in Canada were $27.3 million for the quarter, a 31% increase from the same period last year. The net losses for Auxly in the quarter almost doubled from last year’s $8.6 million to this year’s $14.2 million. Read more here.

Columbia Care Gets Boost From New Jersey Sales

Columbia Care Inc. (CSE: CCHW) (OTCQX: CCHWF) reported financial results for the second quarter ending June 30, 2022, with revenue rising 18% to $129 million over last year’s $109 million. Revenue grew 5% sequentially from the first quarter. The company reported a net loss of $54 million versus last year’s net loss of $18 million, higher than the previous quarter’s net loss of $27 million. This is also expected to be the last quarterly earnings report before the company combines with Cresco Labs. Read more here.

Agrify Reports Losses, Lowers Guidance

Agrify Corporation (Nasdaq: AGFY) up-ticked in early trading Monday despite the company posting results far below analysts’ expectations — showing the waning demand for hydroponics amid the economic slowdown. Red more here.

4Front M&A Strategy Pays Off, Plans for Bloom Farms Bought Deal

After the market closed on Monday, 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) posted positive results — buoyed by growth from lucrative M&A deals over the past year. The vertical multi-state operator announced its financial results for the second quarter ended June 30, 2022. Read more here.

IM Cannabis Revenues Rise as Company Burns Through Cash

IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) reported financial results for its second quarter ended June 30, 2022. IMCC said that revenues rose 114% in the second quarter and were $23.8 million versus the same quarter last year. Total dried flower sold was 3,210 kilograms at an average selling price of $5.72 per gram, compared to 1,842 kilograms for the same period in 2021 at an average selling price of $3.92 per gram. Read more here.

Atai Life Cuts Expenses, Extends Cash Runway

Atai Life Sciences (NASDAQ: ATAI) announced fiscal second-quarter results today for the quarter ending June 30, 2022 with no revenue, but an update on expenses and cash levels. Read more here.

Rubicon Organics Sales Rise as Premium Brand Grows

Rubicon Organics Inc. (OTCQX: ROMJF) delivered mostly positive results on Monday as the company begins to post profits — buoyed by its premium flower and pre-roll line. The Vancouver cultivator released its financial results for the second quarter ending June 30, 2022. Rubicon reported approximately $8.8 million in net revenue during the period, a 92% gain versus the same period last year. Read more here.

Planet 13 Misses on Revenue Despite Quarter Uptick

Planet 13 Holdings (OTC: PLNHF) posted results that missed expectations — showing how waning demand and slimming margins are affecting even the largest operators. The Nevada-based cannabis superstore delivered its financial results for the second quarter ending June 30, 2021. Read more here.

Sundial Sees Record Revenue as Expansion Bid Pays Off

SNDL Inc. (NASDAQ: SNDL) posted positive results as the company reaps record revenue from this year’s M&A bets. The Canadian vice operator — formerly known as Sundial Growers Inc. — delivered its second-quarter results ending June 30, 2022. Read more here.

CV Sciences Misses Expectations as Hemp Demand Stutters

CV Sciences, Inc. (OTCQB: CVSI) sales fell in the quarter as demand for hemp-derived products continues to fade. The hemp operator announced its financial results for the quarter ending June 30, 2022. Read more here.

Psychedelics Aren’t for Everyone

Before any clinical trials for psychedelics are begun, there is a standard but critical vetting process. A hopeful participant can get excluded from a trial because of uncontrolled hypertension; a history of additional risk factors such as heart failure; evidence or history of significant medical disorders; symptomatic liver disease; or because they are abusing illegal drugs. Read more here.


Avicanna Inc.

Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of cannabinoid-based products, announced the filing of its interim financial statements for the three-month period ending June 30, 2022. Read more here.

TPCO Holding Corp.

TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), a consumer-focused California cannabis company, today announced its financial results for the quarter ended June 30, 2022. All amounts are expressed in U.S. dollars. Read more here.

Ascend Wellness Holdings, Inc.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator, today reported its financial results for the three months ended June 30, 2022. Financial results are reported in accordance with U.S. generally accepted accounting principles and all currency is in U.S. dollars. Read more here.

Flora Growth Corp.

Flora Growth Corp. (NASDAQ: FLGC), a manufacturer and distributor of global cannabis products and brands, reported today its financial and operating results for the six months ended June 30, 2022. All financial information is provided in U.S. dollars unless indicated otherwise. Read more here.

The Flowr Corporation

The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) announced the closing of the previously announced sale of the Flowr Forest property to an arm’s length third party for aggregate proceeds of $3.4 million. The company used a portion of the proceeds from the sale of this non-core asset to repay the outstanding balance of its ATB-led credit facility in full. The company, now bank debt free, intends to the use the remaining proceeds for working capital. Read more here.

InterCure Ltd.

InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) announced its financial results for the second quarter of 2022 and provided shareholders with a business update. All amounts are expressed in Canadian dollars or New Israeli Shekels (NIS), unless otherwise noted. Read more here.

Neptune Wellness Solutions Inc.

Neptune Wellness Solutions Inc., (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced its financial and operating results for the three-month period ending June 30, 2022. Read more here.

SpringBig Holdings, Inc.

SpringBig Holdings, Inc. (NASDAQ: SBIG), a provider of SaaS-based marketing solutions, consumer mobile app experiences and omnichannel loyalty programs to the cannabis industry, today announced its financial results for the second quarter ended June 30, 2022. Read more here.

TILT Holdings Inc.

TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, is reporting its financial and operating results for the three months and six months ended June 30, 2022. Read more here.

LiveWire Ergogenics Inc.

LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, leasing, licensing, and managing special purpose real estate properties conducive to producing sun-grown cannabis products for medical and recreational adult-use in California, reported financial results for the second quarter 2022. Read more here.

urban-gro, Inc.

urban-gro, Inc. (Nasdaq: UGRO), an integrated professional services and design-build firm offering solutions to the controlled environment agriculture (CEA) and commercial sectors, today reported second quarter financial results. Read more here.

Field Trip Health & Wellness Ltd.

Field Trip Health & Wellness Ltd. announced that it has filed a listing application in connection with the previously announced intention to list its common shares on the TSX Venture Exchange (TSXV). It is anticipated that the shares will commence trading on the TSXV under the ticker symbol “FTHW” at the opening of the market on August 17, 2021. Read more here.

Small Pharma Inc.

Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF), a biotechnology company focused on short-acting psychedelic-assisted therapies for mental health conditions, today announced that it has received approval from the U.K. Medicines and Healthcare products Regulatory Authority (MHRA) and the Regional Ethics Committee to initiate a drug interaction clinical trial in the U.K. The study will assess the interaction between serotonin reuptake inhibitors (SSRIs) and SPL026, the company’s lead N, N-dimethyltryptamine (DMT) candidate, in patients with major depressive disorder. Read more here.

Adam JacksonAugust 2, 2022


Clever Leaves (NASDAQ: CLVR) could become one of the world’s top five cannabinoid exporters by the end of this year, according to a new report by Cantor Fitzgerald analyst Pablo Zuanic. The findings come a week ahead of the company’s second-quarter earnings release and half a year since CEO Andres Fajardo was tapped to lead the company out of a desperate cash burn and into new, more profitable markets overseas.

Clever Leaves’ plan so far seems to be good on schedule. It has inked lucrative deals with players in overseas markets such as Portugal, Germany, Australia, Brazil, Colombia and Israel.

While the outlook is still a “show me” story, it said, the new distribution partnerships add value with the assumption that continued medical market growth in those overseas markets will work to Clever Leaves’ advantage long-term. The estimates do not account for recreational cannabis legalization in Germany or elsewhere.

“Still, while we are positive on the company’s top-line growth outlook, profitability and cash burn are key investment risks,” the report said. “In fact, although the cost base has been rationalized, capex lowered, and debt mostly paid down, cash burn remains an issue.”

Cantor Fitzgerald assigned Clever Leaves an “Overweight” rating and a 12-month price target of $4.50. The stock was lately selling at 94 cents, but its 52-week high was $12.40. Zuanic wrote, “From a purely trading perspective, positive news flow about regulatory changes, especially in Colombia and Germany, could favorably impact sentiment,” as a reason the price could jump.

“In relative terms, the stock offers better “pure-play” exposure to growth in overseas medical cannabis markets,” the report said, “and eventually to (recreational) legalization in those markets.”

Global Business

With Clever Leaves focused on markets outside North America, the key for the company is to capture downstream margins. In general, these markets enjoy better economics due to higher barriers to entry such as EU certification and high start-up costs, as well as fewer licensed growers. Cantor estimates that retail prices in Europe’s medical markets, especially Germany, are three times those seen in Canada. U.S. prices in Israel and Australia are also well above the North American average. As part of its rescoped strategy, the company is now focused on exports to Australia, Germany, Brazil, and Israel.

“Yes, the company is also targeting the U.S., but we see that as more long-term optionality for CLVR’s cannabinoids exports,” the report said.

This year, the company used the bulk of the $23 million equity raise executed in the first quarter — in which the share count increased 45% — to pay down all the convertible debt, as well as borrowings related to the Herbal Brands deal. Additional shareholder dilution remains a risk, “in our view, given ongoing cash burn,” it said, though capex needs are now much lower and inventory levels are expected to come down.

“The main issue is for the company to scale up the top-line (profitably) and minimize cash burn,” the report said. “The company has less than $27 million left in an equity facility, and this could be tapped depending on the timing of overseas market growth.”

StaffJune 29, 2022


The Daily Hit is a recap of the top cannabis business stories for June 29, 2022.


CannaRegs Lawsuit Comes to a Quiet End

The cannabis tech firm CannaRegs announced that a lawsuit that was filed against it has been dismissed. CannaRegs is a  technology platform that provides users enhanced access to all state and municipal cannabis rules and regulations. It was acquired by Fyllo in January 2020. Fyllo is another cannabis tech firm whose CannaBrain marketing technology ingests and interrogates billions of data points, allowing brands to safely build and execute advertising campaigns while also enabling publishers to create and monetize compliant ad inventory. At the time of the acquisition, Amanda Ostrowitz, CannaRegs’ founder and CEO,  joined Fyllo as its Chief Strategy Officer reporting to CEO Chad Bronstein. Read more here.

Law Could Allow Cannabis Ads on Local TV, Radio

Broadcasters have been notorious for their refusal to air cannabis ads. Even in states where the product is legal, advertisers found themselves being turned down as the Federal Communication Commission (FCC) took the stance that a federally illegal product could not be advertised. Read more here.

Summer Trends See Sales Spike on Long Weekends, Holidays

If predicted trends prove to be true, this Thursday, June 30, may be the busiest cannabis retail sales day for summer 2022, as Americans in legal states get ready to celebrate the long 4th of July weekend. Cannabis consumers are likely to celebrate independence by indulging in their favorite flower and other products that enhance a day at the beach, backyard BBQ with friends, or summer vacation in some legal destination. Read more here.


Red White & Bloom Brands Inc.

Red White & Bloom Brands Inc., (CSE: RWB) (OTCQX: RWBYF) provided this update on the status of a management cease trade order granted on May 3, 2022 by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order. On May 3, 2022, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2021, beyond the period prescribed under applicable Canadian securities laws. Read more here.

Tilray Brands, Inc.

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a global cannabis-lifestyle and consumer packaged goods company, announced that its medical cannabis division, Tilray Medical, has expanded its medical cannabis offerings in the United Kingdom. Tilray Medical now offers the broadest portfolio of cannabis flower in the UK market today, including a differentiated range of high THC products, cultivated at its EU-GMP-certified facility in Portugal. Read more here.

Decibel Cannabis Company Inc.

Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF), a cannabis producer, announced that is has received its certification to export its cannabis products internationally. “This is a very important milestone for the outlook of the Company as this certification unlocks untapped markets for Decibel. The opportunity allows the Company to provide its high-quality craft cannabis products internationally, while also setting the stage for the Decibel brands to develop international recognition and additional consumer exposure,” said Paul Wilson, Chief Executive Officer. Read more here.

Sugarbud Craft Growers Corp.

Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.WS, SUGR.WR, SUGR.DB) (OTCQB: SBUDF) announces that it has entered into shares for services agreements with certain arm’s length service providers, pursuant to which Sugarbud will issue a total of 665,020 Shares at a deemed price of $0.35 per Share in satisfaction of amounts owing to such persons in the aggregate amount of $232,757. The Shares to be issued in connection with the Transaction will represent approximately 10.2% of the issued and outstanding shares of Sugarbud on a post-transaction basis. Read more here.

CEA Industries Inc., Merida Capital Holdings

CEA Industries Inc. (NASDAQ: CEAD, CEADW), a controlled environment agriculture (CEA) systems engineering and technologies company, announced it has entered into an agreement with Merida Capital Holdings in which Merida agrees to use the company as its sole provider of certain products and services for Merida’s indoor cultivation facilities. Read more here.

Allied Corp.

Allied Corp. (OTCQB: ALID) announced that it has completed the first shipment of commercial dried cannabis from Colombia to an international market. On April 01, 2022, Colombia enacted the new legislation allowing for the legal export of dried cannabis produced in Colombia. In April 2022, Allied submitted several applications for export approvals. After many levels of regulatory inspections, analyses, discussions and questions, Allied’s first export approval came in June 2022. Read more here.

StaffJune 21, 2022


The Daily Hit is a recap of the top cannabis business stories for June 21, 2022.


Juva Life Gets $11 Million in Pelorus Equity Deal

Privately owned Pelorus Equity Group has closed an $11.8 million financing with Juva Life Inc. (OTC: JUVAF), a life science company with pharmaceutical research and development and consumer-facing operations in cannabis production and distribution. Pelorus said the primary purpose of the financing was to finance the exercise of the tenant’s purchase option on its recently completed Stockton cultivation facility, as well as provide working capital and R&D funding. Read more here.

Prices Falling for Cannabis Companies

Once upon a time, owning a cannabis company seemed like a sure bet. Even if you couldn’t make the business work, there was always an option to sell it. So many people have been desperate to get into the cannabis industry that they were willing to pay just about any price. In other words premium prices regardless of whether the business warranted it or not. Now as the bear market in stocks seems to have some staying power and competition in some cannabis markets is heating up, prices for these businesses is dropping. Read more here.

High Times Sells LGBTQ Titles

High Times has sold its LGBTQ publications to Equal Entertainment for an undisclosed amount. The publications include Magazine, Magazine, Out Traveler Magazine, Plus Magazine, and and given a new name for the company Equal Pride. According to the press release, “The acquisition returns the company to LBGTQ+ majority ownership and creates the largest LGBTQ+ – owned media, digital, TV, and entertainment company in the country with the majority of Equal Pride employees also identifying as LGBTQ+, women, and/or people of color.” Read more here.

The Bulls Are Running in Psychedelic Stocks

The stock market has been tough over the last month, as has most of the U.S. economy. The Federal Reserve raised interest rates by 0.75 percent on Wednesday, June 15, and that reduces the amount of money in the economy. Besides mortgages, rising interest rates impact the stock and bond markets, credit cards, personal loans, student loans, auto loans, and business loans according to Forbes. It’s the third hike this year and the largest since 1994. The move is aimed at countering the fastest pace of inflation in over 40 years. Another rate hike could come in July, according to Fed Chairman Jerome Powell. Read more here.


Cronos Group Inc., Ginko Bioworks

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), a global cannabinoid company, and Ginkgo Bioworks (NYSE: DNA), a horizontal platform for cell programming, today announced the achievement of the third target productivity milestone in their partnership to produce eight cultured cannabinoids. Using Ginkgo’s platform for organism design and development, Cronos has successfully achieved the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid hypothesized to reduce the appetite-enhancing property of THC. Access to additional rare cannabinoids will support Cronos’ innovation pipeline and commercialization strategy. Read more here.

BioLumic Inc.

BioLumic Inc. today announced the closing of a $13.5-million Series B funding round that will be used to accelerate commercial growth for its cutting-edge, patented agricultural technology that harnesses the power of ultraviolet light to improve plant productivity. The funding round is led by OurCrowd and is joined by Finistere Ventures, Icehouse Ventures, Rabo Ventures, Entourage Effect Capital, Arcview Ventures Seed Fund, Flatiron Venture Partners, RIV Capital, Virtu Capital, Bravos Capital, Privthi, NZ Booster Fund, Norwind Capital, MIG Nominee No 1 Limited, Aspire NZ Seed Fund and others. Read more here.

Rubicon Organics Inc.

Pierre Lassonde, of 45 Hazelton Ave, Toronto, Ontario, M5R 2E3, today announced that on June 20, 2022, Mr. Lassonde sold common shares of Rubicon Organics Inc., a company with a head office at 505-744 West Hastings Street, Vancouver, BC, V6C 1A5, in an amount of 1,000,000 Common Shares. The Common Shares were sold to the Chair of the Board of Directors of Rubicon, Julie Lassonde, and occurred through the facilities of the TSX Venture Exchange at a price of C$0.77 per Common Share, for aggregate consideration of C$770,000. Read more here.

Body and Mind Inc.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ),  a multi-state U.S. cannabis operator, reported its financial results for the third fiscal quarter ended April 30, 2022. Read more here.

In related news: Body and Mind Inc., a multi-state U.S. cannabis operator, is pleased to provide an update on the first amendment to the Seaside dispensary purchase agreement. The company, through its wholly owned subsidiary, DEP Nevada, Inc., executed definitive agreements to purchase the Reef dispensary in Seaside California on November 30, 2021 and has been operating the dispensary since December 1st, 2021. Read more here.

CEA Industries Inc., Greene Brothers Farm

CEA Industries Inc. (NASDAQ: CEAD, CEADW) subsidiary, Surna Cultivation Technologies LLC, a leader in controlled environment agriculture (CEA) systems engineering and technologies, today announced it has entered into a letter of intent to provide products and mechanical engineering services over five phases with Greene Brothers Farm, Inc., a family owned and operated farm that is developing a 26-acre site exclusively for indoor cannabis cultivation. CEA Industries anticipates contract revenues of approximately $10 million over an estimated two to three-year period. The initial contract, valued at $1.2 million, is for the first phase of products and services and is planned to be completed by early Q4 2022. Read more here.

Intercure Ltd., Cookies

Intercure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) announced today the opening of the first flagship Cookies store in Austria, located in the Neubau district of Vienna. The flagship location offers Cookies’ unique CBD menu, available for the first time in Europe, as well as clothing and life-style products. In the future, as regulations are evolving, pharmaceutical grade medical cannabis will be available for Austrian patients, including Cookies EU-GMP THC products. Read more here.

Captor Capital Corp.

Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), announced today that the board of directors has initiated a process to identify, examine and pursue strategic alternatives to the company’s current business. Brady Cobb, a cannabis industry veteran, has been named as the interim chairman of the board of directors, effective July 1, 2022, to oversee the leadership of the company and the Strategic Review process with an eye towards maximizing operational efficiencies and charting the most accretive path forward to maximize shareholder value. Read more here.

AIkido Pharma Inc.

Shalom Auerbach, a significant stockholder of AIkido Pharma Inc. (NASDAQ: AIKI) owning approximately 3.8% of its common stock, today issued the following letter to stockholders of AIkido Pharma Inc. Read more here.

StaffJune 15, 2022


The Daily Hit is a recap of the top cannabis business stories for June 15, 2022.


Hightide’s Revenue Jumps 98%

After the market closed on Tuesday, High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) released its financial results for the second fiscal quarter of 2022 ending April 30, 2022. Revenue for High Tide increased to $81.0 million versus $40.9 million in the same quarter last year. Sequentially, revenue increased by 12% compared to the first fiscal quarter. This represents the second-highest quarterly revenue figure generated by a Canadian cannabis company reporting in Canadian dollars. The net loss was trimmed by 33% to $8 million in the quarter versus last year’s net loss of $12 million for the same time period. Read more here.

Large CBD Pain Study Delivers Positive Results

Radicle Science, an AI-driven healthtech B-corp company reported strong positive results from one of the largest clinical trials on pain treated with cannabinoids. The study involved over 1,600 participants from across the U.S. It was a randomized and controlled clinical trial done in partnership with Open Book Extracts (OBX). All the formulations in the trial led to statistically significant and clinically meaningful improvements in pain after just 4 weeks—all with minimal side effects. Read more here.

Awakn is Hopeful for Addiction Treatment Milestones in 2022

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) reported its financial results for the first quarter ending April 30, 2022. Awakn recorded revenue of $253,154 via Awakn’s clinics versus zero in the prior year. This represents a 23.9% or $48,834 versus the three months ended January 31, 2022. Read more here.


Icanic Brands Company, Inc.

Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF), a multi-state brand operator of premium cannabis brands in California, is pleased to announce that it has changed its year-end from July 31 to December 31. For the transition year, the Company will provide audited financial statements for the 17-month period from August 1, 2021 to December 31, 2022. The reason for the change of year-end is to align the Company’s year-end with the year-end of LEEF Holdings, Inc. (“LEEF”), a California based extractions company that the Company acquired on April 20, 2022. Read more here.

Chalice Brands Ltd.

Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, announced that further to its news release on May 3, 2022, the filing of its audited annual financial statements for the fiscal year ended December 31, 2021 and the related management’s discussion and analysis, as well at the financial statements for the three months ended March 31, 2022 and the related management’s discussion and analysis continues to be delayed. Read more here.

springbig, Tuatara Capital Acquisition Corporation

springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, and Tuatara Capital Acquisition Corporation today announced that they have completed their previously announced business combination. The Business Combination was approved at a special general meeting of TCAC shareholders on June 9, 2022. Read more here.

Body and Mind Inc.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ), a multi-state US cannabis operator, is pleased to provide an update on the extension and amendments to its loan agreement entered into between the company, DEP Nevada, Inc., a wholly owned subsidiary of the company, the guarantors as set forth in the Loan Agreement, FG Agency Lending LLC and Bomind Holdings LLC, dated July 19, 2021, as amended on November 30, 2021. The Company has entered into a second amendment to the Loan Agreement to extend the maturity date by one year to July 19, 2026. Read more here.

Entourage Health Corp.

Entourage Health Corp. (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE), a Canadian producer and distributor of cannabis products, is pleased to announce that shareholders overwhelmingly approved all proposed resolutions at its annual general and special meeting of shareholders held virtually in Toronto, Ontario on June 10, 2022. Read more here.

AFC Gamma, Inc.

AFC Gamma, Inc. (NASDAQ:AFCG) today announced its dividend for the quarter ending June 30, 2022.The Board of Directors of AFC Gamma declared a quarterly dividend of $0.56 for the quarter ending June 30, 2022, per outstanding share of common stock, payable on July 15, 2022 to the common stockholders of record on June 30, 2022. The June quarterly dividend represents the fourth consecutive increase of AFC Gamma’s quarterly dividend and a 47.4% year-over-year dividend increase. Read more here.

HEXO Corp.

HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) is pleased to announce that at its special meeting of shareholders held yesterday, holders of common shares of HEXO overwhelmingly approved the previously announced equity purchase agreement with 2692106 Ontario Inc. and KAOS Capital Ltd. A total of 73,880,016 Common Shares (approximately 16.12% of the issued and outstanding Common Shares) were represented at the Meeting in person by virtual attendance or by proxy. Read more here.

NewLake Capital Partners, Inc.

NewLake Capital Partners, Inc. (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators, today announced that its board of directors has declared a second quarter 2022 cash dividend of $0.35 per share of common stock. The dividend is equivalent to an annualized dividend of $1.40 per common share, and is the Company’s fifth consecutive quarterly dividend increase. The dividends are payable on July 15, 2022, to stockholders of record at the close of business on June 30, 2022. Read more here.




StaffJune 14, 2022


The Daily Hit is a recap of the top cannabis business stories for June 14, 2022.


Tilray Gets Hexo at a Cheaper Price

Tilray Brands, Inc. (Nasdaq: TLRY) was able to lower the price it is paying for Hexo. The changes to the original deal include an additional discount on Tilray Brands’ purchase price as well as the reduction of the conversion price under the HEXO Note from C$0.85 to C$0.40 per share. The deal is expected to close on or about July 15, 2022. Read more here.

Fire & Flower Revenue Falls in Fiscal First Quarter

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWD) announced its financial results for the fiscal 2022 first quarter ending April 30, 2022. Fire & Flower reported revenue fell 7% to $40.9 million for the quarter from $44.1 million in the previous year. Fire & Flower attributed the drop to increasing competition from new licenses issued and pricing pressures in the cannabis retail market. The company trimmed its net losses to $9.9 million versus last year’s net loss of $61.6 million. Read more here.

Innovations in Precision Medicine are Helping to Advance Psychedelics

One of the most important benefits of psychedelics research and development is how it has employed the newest approaches of medical technology to find out exactly how and what psychedelics do inside the human body. Read more here.


Northern Lights Acquisition Corp., Safe Harbor Financial

Northern Lights Acquisition Corp. (NASDAQ: “NLIT”), a special purpose acquisition corporation, announces that it will hold a special meeting of its stockholders on June 24, 2022, at 2pm ET to approve the business combination whereby NLIT will acquire SHF, LLC, d/b/a Safe Harbor Financial and other related matters. Read more here.

Hightide Tide Inc.

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA), a retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, filed its financial results for the second fiscal quarter of 2022 ended April 30, 2022, the highlights of which are included in this news release. The condensed interim consolidated financial statements for the three and six months ended April 30, 2022, and the accompanying management’s discussion and analysis can be accessed by visiting the Company’s website at Read more here.

Medical Marijuana, Inc.

Medical Marijuana, Inc. (OTC: MJNA), a publicly traded cannabis company in the United States that produces cannabis-derived nutraceutical products, brands and supply chain, announced today that in May its subsidiary Kannaway® has achieved its largest revenue month in the company’s history for its Japan division. Read more here.

Pyxus International, Inc.

Pyxus International, Inc. (OTC Pink: PYYX), a global agricultural company, today announced results for its quarter and fiscal year ended March 31, 2022. As described in more detail below, results presented for the prior fiscal year period reflect the combined results of the Successor and Predecessor periods reflecting, respectively, the periods prior to and subsequent to the Company’s emergence from Chapter 11 proceedings. “In January 2022, we completed the exit of our cash-flow-negative cannabinoid operations. Our restructuring activities generated savings in SG&A, which contributed to a $55.9 million decrease in expense compared to last year.” Read more here.

Red White & Bloom Brands Inc.

Red White & Bloom Brands Inc., (CSE: RWB)(OTCQX: RWBYF) provided an update on the status of a management cease trade order granted on May 3, 2022 by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order. On May 3, 2022, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2021, beyond the period prescribed under applicable Canadian securities laws. Read more here.


StaffJune 8, 2022


The Daily Hit is a recap of the top cannabis business stories for June 8, 2022.


Surging May Sales not Enough for Scotts

The Scotts Miracle-Gro Company (NYSE: SMG) said consumer purchases of its core lawn and garden brands surged in May with unit volume now trending towards the company’s original assumptions for the season. However, a variety of factors are causing Scotts to lower its outlook for both sales and adjusted earnings for fiscal 2022. the stock was sliding over 13% in early trading to $88.50. The 52-week high for the stock was $204. Read more here.

Icanic Brands Restructures Debt

Icanic Brands Company, Inc. (OTCQB: ICNAF)  has entered into a Restructuring Support Agreement with certain holders of its 2019 Secured Convertible Debentures for a proposed recapitalization transaction and to announce financing of approximately $2.0 million arranged by insiders of the company. The move will decrease the Icanic’s debt from $14.5 million to $10.9 million and save $110,000 in interest annually. Read more here.

Hardcar Crashes

California-based distribution company Hardcar crashed hard as the company was facing a big tax bill and no willing investors. In its death spiral, the company also laid off employees without wages that were owed to them. Yet, the “out of business” company was apparently still making cash drops and deliveries until a co-founder stepped back in to shut the operation down for good. Read more here.

How to Start Your Own Psychedelics Company

You’ve read the predictions, you’ve heard the buzz—psychedelics are about to change the world of mental health treatment. They promise no more mental health pharmaceuticals that numb out the brain, or that help mask the side effects. No more taking chemicals for the rest of your life that are not body-friendly, with the caveat that psychedelics can also cause brief, uncomfortable events during treatment on their way to profound, life-changing results. Read more here.


Star Buds Cannabis Co., DoorDash Canada

Star Buds Cannabis Co., a Canadian cannabis retailer, operating under CordovaCann Corp. (CSE:CDVA) (OTCQB:LVRLF) in Ontario, Alberta, Manitoba and British Columbia, has entered into a partnership with DoorDash Technologies Canada to launch cannabis pickup on the DoorDash Marketplace app. The initial launch will be across Star Buds locations in Barrie and Innisfil, Ontario, bringing the accessibility and convenience of online ordering and pickup of cannabis products to consumers outside of metropolitan areas. Read more here.

Neptune Wellness Solutions Inc.

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced the launch of a new consumer packaged goods (CPG) focused strategic plan to reduce costs, improve the company’s path to profitability and enhance current shareholder value. Read more here.

Impact Naturals Group, Rowe Capital Group

Impact Naturals Group, a health technology company, announced a capital raise and partnership with Rowe Capital Group. Impact Naturals’ growth-focused capital raise will enable the company to accelerate planned research and development of its CHYLOSOMA™ technology, which has unlocked greater bioavailability of lipid-soluble ingredients including cannabinoids, dietary supplements, and prescription therapies making them better absorbed and better distributed throughout the body. Read more here.

Debra BorchardtJune 2, 2022


The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. Bright Green recently began trading on the NASDAQ (NDAQ) as a direct listing, not as an Initial Public Offering (IPO). The stock shot up almost immediately to $58 and has since sold off and was lately selling at $3.54.

Direct Listing vs. IPO

 In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. According to the NASDAQ website, “Companies choosing a direct listing typically have had no immediate need for additional capital, have a large and diverse shareholder base and are a well-known brand with an easy-to-understand business model. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).” 

No additional shares are offered to the public, which reduces scrutiny. The public can only buy the shares that are sold by the insiders. Requirements from NASDAQ about direct listings state that in the NASDAQ Capital Market guidelines, “The listing company must have a recent valuation from an independent third party indicating in excess of $10 million to $30 million in the aggregate market value of publicly held shares, depending on the financial standard met. (Rule 5505).” In addition to the valuations, companies also have pre-tax income requirements – which Bright Green doesn’t meet. In fact, the company only has net losses. This valuation figure is a key element in the complaint from the former CEO John Fikany. 

Lucky for Bright Green it clearly states in its S-1,  “Because of our novel listing process on the Nasdaq Capital Market, Nasdaq’s rules for ensuring compliance with its initial listing standards, such as those requiring a valuation or other compelling evidence of value, are untested. In the absence of a prior active public trading market for our common stock, if the price of our common stock or our market capitalization falls below those required by Nasdaq’s eligibility standards, we may not be able to satisfy the ongoing listing criteria and may be required to delist.” So, the company discloses right up front that it may not be able to even stay listed on NASDAQ. 

There are currently several companies that have been approved by the DEA to sell cannabis to the Federal Government for research purposes, so the concept cannabis company actually does have existing companies for comparison in order to determine a true valuation. Granted they aren’t trading publicly, but they aren’t untested with regard to valuations. However, it doesn’t matter because Bright Green already says if it can’t meet those requirements then it will just delist. That’s of course after insiders sell their shares. 

Bankruptcy Disclosure

Another thing that is unique about companies going public is that the SEC requires a bankruptcy to be disclosed to potential shareholders. The idea is that investors should have adequate information in order to make a wise investment decision. In the case of Bright Green, the company states that no director or executive officer has filed for bankruptcy. In 2017, John Stockwell was listed as the CEO of Bright Green according to this Albuquerque story which stated the greenhouse would open in 2017. He is no longer listed as having a role in the company. However, his wife Lynn Stockwell is a Director of Bright Green and John Stockwell did file for bankruptcy in the state of New Mexico in 2015. 

Stockwell is a Canadian citizen and his next-door neighbor in Canada was Jerry Capussi who is suing for shares of Bright Green. According to the bankruptcy documents, in about 2003 Stockwell purchased the assets of Agstar of New Mexico, Inc., including greenhouses in Grants and Estancia, New Mexico. These properties became the Sunnyland Farms. 

Sunnyland Farms Burns Down

The documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. Although Capussi never signed any contracts with Stockwell, he met with state officials, helped put together business plans, talked to potential vendors, traveled to New Mexico, provided meeting facilities, and the like. That business was called Sunnyland Farms based in Grants, New Mexico where Bright Green Cannabis is based. 

Unfortunately, one of Stockwell’s employees inadvertently started a fire at the Estancia greenhouse. Even worse, the Central New Mexico Electric Cooperative (“CNMEC”) had shut off the electricity at the greenhouse. Without electricity, they couldn’t pump water to fight the fire, and the Estancia greenhouse was destroyed. The fire apparently devastated Stockwell financially according to the bankruptcy documents.

He sued CNMEC in 2005, alleging that the utility wrongfully disconnected the electricity service and was awarded about $22 million in damages. CNMEC appealed the judgment and won giving Stockwell little more than his attorney fees. On further appeal, in 2013 the New Mexico Supreme Court reversed the Court of Appeals’ decision in part, increasing Stockwell’s award to about $7.4 million. CNMEC gave up and paid this judgment amount. After attorney fees were deducted, he was left with about $5.45 million in cash. Unfortunately, this was “fully encumbered by the first lien of the Stockwell’s pre-petition secured lender.” Capussi was awarded $108,000, which was a much smaller amount than the $2 million he had wanted. The Bright Green filing says that Capussi is suing for 108,000 shares of the company. At some point during these years, it seems the Sunnyland greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green. 

Former CEO Claims Fraud

In addition to the Capussi lawsuit, Bright Green’s former CEO John Fikany is also suing the company. Michigan-based Fikany is an accomplished executive who was once Vice President, North America sales strategy for Oracle, Vice President at Microsoft, and Vice President at Quicken Loans. In his lawsuit, he claims that the Stockwell’s approached him to be CEO. Even though he said he had other offers on the table, the Stockwells said they could pay more. He began working for the company on May 1, 2018, as CEO with a salary of $1 million and was to receive $500,000 on the first day of employment. He was also to get 2.5 million shares. Fikany also says in the lawsuit that his employment wasn’t contingent on any specific measures of success. After six months of work, Fikany had yet to be paid.

Acoma Pueblo Gov. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. Photo published by Albuquerque Business First

While he was employed, Fikany was working on a deal for Bright Green to develop a cultivation facility on Indian land with the Acoma Pueblo tribe. The deal had been in the works prior to Fikany coming on board but hadn’t actually closed. According to the court document Fikany claims that Stockwell almost torpedoed the deal, but he was able to save it. The only thing keeping the deal from being consummated was that Bright Green needed to deposit some escrow money. Ultimately, Stockwell refused to send the escrow money to the Acoma Pueblo and that deal fell through. The Acoma Pueblo sent documentation to formally withdraw from the deal. 

While Fikany was working to secure the deal with the Acoma Pueblo he was also working with Stockwell to prepare the company to go public. One issue that arose during the process was the valuation of Bright Green. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was “misleading and aggressive”. At this point, the company actually paid Fikany his one and only paycheck of $19,230.77. He also supposedly received another 2.5 million shares. Undeterred, Fikany continued to push back.

Fikany says he was concerned about the false and misleading nature of Stockwell’s valuation report asking, “How is it possible that we continue to radically increase our valuation from $1.5 billion to 2.5 to 4.0 to 6.5?” According to the complaint, Fikany became worried his name would be attached to the company’s valuation statement, which he believed was false and inaccurate. In July 2019, the company issued a letter to investors with the alleged inflated valuation over Fikany’s opposition. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. He was then terminated.

Bright Green Is A Sham

Fikany says in his lawsuit that Bright Green was “a sham, operated illegally and fraudulently.” He alleges that the Stockwell’s “engaged in acts of fraudulent misrepresentation and attempted to force Fikany to aid and abet them in making fraudulent misrepresentations to investors concerning the valuation and progress of Bright Green Corporation.” He is suing for $1.7 million in unpaid wages. 

The Stockwell’s deny the allegations about the misrepresentation of the valuation of Bright Green, but they do admit that the deal with the Acoma Pueblo did fall through. Bright Green in its statement suggests that Fikany was hired to complete the Acoma Pueblo deal, which ultimately never closed. Thus, he didn’t meet the conditions of his employment and was terminated. 


Bright Green’s current CEO is Edward Robinson. He took over the role in 2019, although his LinkedIn profile only states he is a special advisor, he is on the company website as the CEO. Robinson was the Chief Executive Officer of BMW Financial Services for the America’s Region from April 2005 to December 2016. He gets an annual base salary of $540,000 paid in monthly installments. The employment contract reads, “Robinson shall receive monthly payments in the amount of $6,750 with an aggregate of $344,250 in deferred compensation due and payable on or before December 15, 2022.” Robinson got 5.6 million shares, while his wife Elaine Robinson received 605,000 shares. 

John Stockwell’s Connection

Left to right: Dean Valore, Ed Robinson, Terry Rafih, Lynn Stockwell, John Stockwell, Robert Arnone.

John Stockwell supposedly has no official role in Bright Green, but he was featured in a photo (above) of a groundbreaking ceremony in New Mexico in October 2021. Typically in groundbreaking ceremonies, only top executives or board members take the stage. Stockwell’s wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares.  In 2020, she lent the company $392,194 and has no fixed repayment term. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. This is also the second groundbreaking ceremony. 

At the time Lynn Stockwell said, “With the cooperative spirit of federal, state and business we found in New Mexico, we will see New Mexico and Bright Green Corp. become leaders in this emerging field of medical research.

The facility in Grants, New Mexico is supposed to be “A two-acre Fast Start University Greenhouse to begin housing our cannabis research, development, cultivation, and manufacturing operations.”  Bright Green also stated in its filing that its existing 22-acre Venlo greenhouse is currently under renovation to be operational in May 2022 and provide the initial supply of marijuana and marijuana extracts. The company has also said that it will be able to harvest its first crop of cannabis in two months, however, any cannabis cultivator will say that it takes at least 3-8 months for a cannabis plant. Bright Green could purchase more mature plants to speed up the process, but then the DEA would actually be buying someone else’s plants. 

In Closing

Most companies clean up lawsuits before going public so that investors won’t see the dirty laundry. In this case, Bright Green plowed ahead. The company played up its connection to the DEA suggesting that the Memorandum of Agreement was a done deal, even though the company doesn’t have a formal contract with the DEA. The DEA also would not confirm it had a contract with Bright Green and wouldn’t comment on the MOA. The NASDAQ seems to be playing along even though it also doesn’t seem to have vetted the company’s valuation claims. Other financial media also jumped in and never looked beyond the company’s press release and helped tout the idea of a cannabis company trading on the NASDAQ. That boosted the share price in the early days further enriching the sellers. Looking at the track record of Sunnyland and then Bright Green, it will remain a stock to keep under the microscope. 

Debra BorchardtMay 18, 2022


Bright Green (NASDAQ: BGXX) is a cannabis company with no revenue that just began trading on the NASDAQ, despite the exchange’s insistence that it won’t list U.S. cannabis companies due to the product being federally illegal. Bright Green plans to produce cannabis for research purposes with the Drug Enforcement Agency‘s (DEA) blessing, which seems to be the reason why the NASDAQ has allowed the company to trade. It would be considered federally legal cannabis. The stock is trading at $26.

Bright Green states in its prospectus, “In May 2021, we entered into the MOA with the DEA, which outlines the terms of the DEA’s conditional approval of Bright Green to proceed through the DEA’s registration process, as described above. The MOA with the DEA is effective for a one-year term, renewable for up to four additional one-year terms. These terms are agreed to by both the DEA and BGC, and the MOA is filed under DEA Document Control Number W20078135E. There is no guarantee that we will obtain the necessary authorization now, or in the future for renewal purposes.” Previously, only the University of Mississippi held such authorization.

Green Market Report has asked the DEA to confirm this agreement but has not received a response as of yet.

The company only has two employees a Chief Executive Officer and a Chief Financial Officer. No one on the board has any cannabis experience whatsoever and mostly comes from the automotive industry. Plus, the company is already involved in two lawsuits one of which is involving the company’s former CEO John Fikany. Terry Rafih is the Chairman of the Board and Edward Robinson is BGC’s Chief Executive Officer and Director. Robinson was the Chief Executive Officer of BMW Financial Services for the America’s Region from April 2005 to December 2016. Douglas Bates resigned as Chief Financial Officer in March 2022. Saleem Elmasri was appointed as his replacement in March 2022.

DEA Is the Customer

“We plan to sell cannabis to research institutions pursuant to our conditional approval from the DEA. Sales of THC cannabis products will be made only via bona fide supply agreements from existing DEA registrants, and not directly to consumers. Following final approval from the DEA, Bright Green will receive a Controlled Substances Bulk Manufacturing License to cultivate and manufacture cannabis for sale to federally funded research institutions and other purposes. There is no guarantee that we will receive final approval from the DEA.”

The company has also said that it plans to sell high CBN and CBG cannabis directly to consumers if and when cannabis legalization occurs at the federal level. “We also plan to leverage our cultivation, research, and manufacturing facilities to develop and commercialize approved medical cannabis products to sell to DEA registered pharmaceutical producers. BGC plans to sell mostly extracted oils from medicinal plants grown in these high-tech facilities and processed onsite through a proprietary system that vertically integrates the genetically altered growth of the plants to conform to automated growing systems. Once the two larger greenhouses are constructed, we estimate we can process 5,000 pounds of dry plant biomass per day to produce 220 pounds of distillate, which can create 85,000,000 milligrams of cannabinoids per day.”

Negative Cash

The company must be hoping that by going public it will raise the money necessary for the lofty building ambitions. It had a negative operating cash flow of $1,656,575 in the fiscal year ended December 31, 2021, and $513,337 for the year ended December 31, 2020. The company’s filing states it only has $1.2 million in cash on hand as of the end of 2021.


The company said it plans to spend $76 million in 2022 on its greenhouse facilities, $161,200,000 in 2023, and another $60,000,000 in 2024 for a total of $297 million.

BGC owns a 70-acre parcel of land, on agricultural property, which includes an existing 22-acre greenhouse structure. The company also owns a 40-acre parcel of land nearby and holds options for two additional 300-acre properties which are adjacent to the owned properties (one is known as the “Candelaria” property, and the other is known as the “Azuz” property). The existing 22-acre greenhouse will be used to cultivate non-cannabis herbs and medicinal plants.

In addition to the existing greenhouse, BGC will be undergoing new construction to establish a state-of-the-art facility headquartered on our property in Grants, NM that will include two 57-acre greenhouses and a two-acre University Greenhouse (the “Fast Start University Greenhouse”) to begin housing our cannabis research, development, cultivation and manufacturing operations. This first greenhouse facility will have a production capacity for 50,000 cannabis plants at all times of differing maturity levels. Additionally, we estimate we will harvest approximately 300,000 mature plants per year (with multiple harvests per year).

The Fast Start University Greenhouse will house our research and development facility pursuant to potential partnerships and other arrangements with leading U.S. universities. The Fast Start University Greenhouse is expected to be complete by October 2022 though there may be delays due to global supply chain issues. “Our first harvest will be complete approximately two months from the date of completing construction. We will take a phased approach to the build out of Phase 1 and Phase 2 and will plant intermittently as phases of each greenhouse reach completion with estimated planting dates to be completed in tranches as follows: March 2023, September 2023, March 2024, September 2024.”

Aurora Larssen

The BGC process says it will draw on expertise from Aurora Larssen Projects, which has completed over 50 fully legal cannabis projects in jurisdictions throughout the world. However, BGC “has not entered into a formal agreement with the company.”  Aurora Larssen is owned by Aurora Cannabis (NASDAQ: ACB). BGC says it will start with tissue cultures from Nordic Supreme, which will provide proven cannabis genetics from Denmark, and then have best practices developed by Aurora Larssen.



The company is already facing two lawsuits before even getting started. These cases are listed in the company’s filing:

Bright Green Corporation v. John Fikany, D-1333-CV-2020-00231, State of New Mexico, County of Cibola, Thirteenth Judicial District. In this matter, the Company filed a complaint for declaratory judgment against the former acting Chief Executive Officer of the Bright Green Group of Companies, an entity unrelated to the Company, to determine if defendant is entitled to 5,000,000 shares of the Company’s common stock, based on a failure to fulfill agreed-upon conditions precedent to earning such shares from the Company. Defendant counterclaimed and filed a third-party claim against Lynn Stockwell, founder and a director of the Company, and Ms. Stockwell’s husband, for claims including wrongful termination and breach of contract. The Company denies defendants allegations and have set forth arguments refuting defendant’s counterclaims and third-party claims. The case is in the discovery phase. The Company is exploring potential dispositive motions against the counter and third-party claims.

Bright Green Corporation v. Jerry Capussi, D-1333-CV-2020-00252, State of New Mexico, County of Cibola, Thirteenth Judicial District. In this matter, the Company and defendant, a former consultant of BGGI, a predecessor to the Company, have each filed claims for declaratory judgment seeking to determine by court order whether defendant is entitled to (i) shares of common stock in the Company (amounting to no more than 108,000 shares) or (ii) fair market value of defendant’s equity ownership of BGGI. The lawsuit is in early discovery stages, and we are preparing arguments for a summary judgment motion. There are no claims for specific monetary liability against either party.

List of the DEA approved Bulk Manufacturer Marihuana Growers:

Biopharmaceutical Research Company LLC

Groff NA Hemplex LLC

Irvine Labs, Inc.

National Center for Development of Natural Products

Royal Emerald Pharmaceuticals Research and Develop

Scottsdale Research Institute

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.


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


Recent Tweets

@GreenMarketRpt – 3 days

Researchers Seek to Remove ‘Trip’ as Popularity of Psychedelic Treatments Grows

@GreenMarketRpt – 3 days

The Weekly Stash Video September 30, 2022

@GreenMarketRpt – 3 days

Florida Drops Criminal Charges Against Former Ascend Wellness Chief

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.


We respect your privacy. See our privacy policy.