Neptune Wellness Solutions Archives - Green Market Report

Kaitlin DomangueKaitlin DomangueFebruary 13, 2020
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4min2970

Its time for your Daily Hit of cannabis financial news for February 13th, 2020. 

On the Site

Meet the Weedy Award Finalists 

The founder and Editor of WeedWeek, Alex Halperin, has created the Weedy Awards, with winners being announced on February 28th in Hollywood. Awards will be presented in categories like best grow, the most socially responsible company, the best delivery company, the best edibles, and the people’s choice cannabis celebrity. 

Aurora Cannabis Stock Slides as Revenue Falls

Canadian-based Aurora Cannabis Inc. (NYSE: ACB) saw its shares falling in early trading after the company said that revenues fell in the second quarter of fiscal 2020 ending December 31, 2019. Aurora reported that its total net revenue reported in Canadian dollars fell 26% sequentially to $56 million in the second quarter from $75 million in the first quarter of 2020. It was higher than the 2018’s second quarter, which delivered net revenue of $54 million.

Neptune Wellness Delivers Solid Quarter as Sales Increase

Neptune Wellness Solutions Inc.  (NASDAQ: NEPT) (TSX: NEPT) announced its financial results for its fiscal third-quarter ending December 31, 2019. Total revenues for Neptune were $9.1 million, a sequential increase of $2.6 million or 41% over the second quarter ended September 30, 2019. This was also an increase of $2.6 million or 40% compared to $6,538 for the three-month period ended December 31, 2018. 

In Other News

SLANG Worldwide Partners with Cali Cannabis Cookie Company 

SLANG Worldwide Inc. (CNSX: SLNG), leading cannabis consumer packaged goods company, has partnered with Cookies, a leading California-based cannabis brand. 

Pursuant to the deal, SLANG will bring Cookies’ products to the Oregon market. 

Cresco Labs Expands C-suite

Cresco Labs will name marketer Greg Butler as its first-ever Chief Commercial Officer. Butler has past supported the brand in a CMO capacity, developing the commercial growth strategy for the brand. He has strong plans to develop Cresco’s market in 2020, as well as promoting diversity and social equity in the cannabis space. 


William SumnerWilliam SumnerJuly 18, 2019
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5min5790

It’s time for your Daily Hit of cannabis financial news for July 18, 2019.

On the Site

Aurora Cannabis

Italy has chosen Canadian-based Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) as the sole winner of the Italian government’s public tender to supply medical cannabis in Italy. The contract is expected to be signed in September 2019… It will be a two-year contract in which Aurora will provide 400 kg of medical marijuana from its Canadian facilities.

5 Ways To Fix The California Cannabis Market

While it would be wonderful to have the luxury of starting over again, rebooting is not an option for California. The past cannot be changed. Those who are interested in addressing the chaos in the regulation of California’s cannabis industry must go forward from where we are today.

 In Other News

Neptune Wellness Solutions

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) announced that it has closed a private placement offering of 9,415,910 common shares of the company, at a price of $4.40 per share, for $41.4 million. The offering was led by Perceptive Advisors. The proceeds of the offering will go towards working capital, general corporate purposes, and the acquisition of the assets of SugarLeaf Labs LLC and Forest Remedies LLC. The SugarLeaf acquisition is expected to close on or around July 31, 2019.

MediPharm Labs

MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF) announced that it has received conditional approval to trade it shares on the Toronto Venture Exchange and list its common shares on the TSX under the symbol “LABS”. “We are thrilled to have qualified to uplist to the TSX. This is an important step for the MediPharm Labs team and our shareholders,” said MediPharm Labs CEO, Patrick McCutcheon.

Origin House

Origin House (CSE: OH) (OTCQX: ORHOF) announced that its preliminary unaudited revenue for the second quarter, ending on June 30, 2019, was $21 million, representing an approximate gross margin, excluding fair value items, of 17%. The company plans on releasing its full financial results for the quarter during the second half of August. “Origin House has continued to gain momentum as our team leveraged the California-focused platform we have built over the past two years to drive another quarter of record revenue along with steady progress on gross margin. As expressed previously, we strongly believe that 2019 will mark an inflection point both for the California market and Origin House as a whole and the numbers are proving this out,” said Marc Lustig, Chairman and CEO of Origin House.

Akerna Corp.

Akerna Corp. (Nasdaq: KERN) announced today that it has partnered with Leafly to integrate its seed-to-sale compliance software, MJ Platform, with Leafly.com. With the integration, MJ Platform users will be able to view their inventory and menus automatically update on Leafly. “MJ Platform is the cannabis industry’s first ERP software and through partnerships, such as the one with Leafly, we provide a leading compliance, technology platform across the entire supply chain that connects almost every data point,” said Akerna CEO, Jessica Billingsley. “The partnership with Leafly provides a seamless integration for MJ Platform users, which is good business practice as it eliminates manual updates and delayed information.”


William SumnerWilliam SumnerJune 12, 2019
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6min6080

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

On the Site

Oregon House Passes Cannabis “Export” Bill

In a bi-partisan vote of 42-17 on Tuesday, the Oregon House passed a historic measure that will allow Oregon’s Governor to enter into agreements with other consenting states to allow for the legal export of cannabis between state markets.  Governor Brown is expected to sign the bill.

MJ Freeway

Seed-to-sale cannabis software company MJ Freeway and MTech Acquisition Corp. (NASDAQ: MTEC) agreed to issue and sell an additional 215,475 shares of Class A common stock at $10.21 per share as part of its previously announced private placement in a deal valued at $2.2 million. The company is expected to go public within months.

Coda Signature

Luxury cannabis brand Coda Signature California closed on a $24.4 million round of Series A funding. Altum Investments is the parent company of The Grow Foundry California, which goes by the name of Coda. The company said that the funds will be used to accelerate expansion into emerging North American markets for Coda Signature-branded premium cannabis-infused edibles, topicals and concentrates. In addition to that, the money will also be used for strategic additions to the management team.

In Other News

Willow Industries

Willow Industries announced that it has raised $2 million in venture funding. The fund raise was co-led by AFI Capital Partners and Welcan Capital and were joined by Halley Venture Partners and Flatiron Venture Partners. Willow Industries is a technology company that specializes in hemp and cannabis decontamination without compromising the integrity of the flower. “The support we received in this financing round from our investors substantiates the value that Willow provides to cannabis cultivators around the country,” said Jill Ellsworth, Willow’s Founder and CEO. “This investment allows us to maintain our position as the leader in what we’re passionate about: consumer safety and helping cultivators across the country sell high-quality, clean, safe cannabis.”

Neptune Wellness Solutions

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) announced the release of its financial results for the quarter and fiscal year ending on March 31, 2019. Year-over-year evenue for the quarter declined from $7 million to $5.8 million. Net loss for the quarter increased from a loss of $4.8 million to a net loss of $12.4 million. The net loss for the fiscal year was $23.2 million, down considerably from a net income of $20 million in the previous year. Despite the loss, management remains positive in the company’s outlook for the coming fiscal year. “With the largest extraction facility in Canada, with a licence, and a transaction pending for a second facility in the United States, multiple supply partnerships now in hand, and solid and growing relationships with new clients, we are on our way to realizing our objective to become the global leader in cannabis extraction,” said Jim Hamilton, CEO of Neptune.

MediaJel

The cannabis advertising and marketing firm MediaJel announced that it has acquired Potnt Agency, a hemp and cannabis-focused public relations agency. Under the agreement, Potnt CEO Jennifer Price will stay on as MediaJel’s Vice President of Communications. “Public relations is one of the most relevant communications disciplines for the feverishly evolving cannabis industry. The old narrative needs to be changed. Today’s market is fully different, and successful communications embracing this market is, to say the least, quite complicated at the local level,” said Thomas Harrison, Chairman of the Board, MediaJel.

 


William SumnerWilliam SumnerMay 9, 2019
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6min7360

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

On the Site

Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) reported financial results in Canadian dollars for the first quarter ending March 31, 2019, with net revenue rising 129% to $6.5 million from $2.9 million for the same time period in 2018. The rise in revenue was due to the addition of adult use sales in Canada. Net revenue increased 15% sequentially from $5.6 million in the fourth quarter of 2018.

3 Ways to Buy Into Marijuana Stocks Without the Risk

Sure, these stocks won’t rise as much as some of the pure marijuana stocks. But, you know what? They won’t fall as much either and they’ll still be able to reap potential billions in revenues derived from cannabis. With that, here are the 3 top partners of the marijuana stocks and why you should focus on them.

Arcadia Biosciences

Just two months after announcing the launch of Arcadia Specialty Genomics™, a new cannabis-dedicated division of agricultural crop improvement, the company has released images of its first crop of sun-grown, Hawaiian hemp. Arcadia’s new cannabis unit, cultivates six Hawaiian hemp strains on its 10-acre Hawaiian facility.

In Other News

Charlotte’s Web Holdings

Charlotte’s Web Holdings, Inc. (CSE: CWEB) (OTCQX: CWBHF) announced the pricing of its previously announced underwritten public offering 7 million common shares at C$20 per share. The offering should raise approximately C$140 million. As the shares are being sold by current shareholders, the company will not receive the proceeds from the offering. The selling shareholders have additionally granted underwriters a 30-day option to purchase another 15% of the common shares offered in the proposed public offering. Canaccord Genuity Corp. will act as the sole bookrunner for the offering.

Alternate Health

Alternate Health Corp., (CSE: AHG) (OTCQB: AHGIF) is looking to expand into Latin America. Today the company announced that it has entered into a joint venture agreement with Oltecate Enterprises, a COFEPRIS-licensed Mexican CBD distributor. Under the agreement the parties will establish a Mexican corporation with the name of Alternate Health Latin America S. de. R. L. de. C.V. (“AHLA”). Alternate Health will own 55% of the company and Oltecate will own 45%. Upon closing, Federico Cabo, owner of Oltecate Enterprises, will receive 1,500,000 common shares of Alternate Health.

Terra Tech

Terra Tech Corp. (OTCQX: TRTC) announced its financial results for the third quarter ending on March 31, 2019. Year-over-year, revenue for the quarter declined from $8.6 million in 2018 to $7.4 million. Management credited the decline in revenue to higher tax levels in the state of California, which depressed sales figures. Nevertheless, the company’s net loss for the quarter also declined, falling from $12.2 million in the first quarter of 2018 to $5.1 million. Likewise, the gross margin grew from 36.2% to 54.4%.

Neptune Wellness Solutions

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) has signed a definitive agreement to acquire all of the assets of SugarLeaf Labs, LLC and Forest Remedies LLC, a registered North Carolina-based commercial hemp company providing extraction services and formulated products, for $150 million. Included in the acquisition is a 24,000 square foot hemp production facility capable of producing 1.5 million kilograms of hemp annually. Under the agreement, Neptune will pay $12 million in cash and $6 million in common shares upon closing. Depending on the fulfillment of certain milestones, Neptune will pay an additional $132 million over the next three years in a combination of cash and common shares. The transaction is expected to close on or around July 31, 2019.



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


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