New Leaf Ventures Archives - Green Market Report

StaffMarch 6, 2023


The Daily Hit is a recap of the top financial news stories for March 6, 2023.

On the Site

Investor Sues Tilray for False Claims on Inventory, ABG Deal

It’s been a minute since Tilray (Nasdaq: TLRY) went public, but investor Michael Hudson is suing the company for what he claims are “ breaches of fiduciary duties, unjust enrichment, and waste of corporate assets, and violations of the Securities Exchange Act of 1934.” Read more here.

Conservative Politics Still Shutting Down New State Market Opportunities

Political wrangling over legalizing both medical and recreational marijuana in various U.S. states continues as it does every year, but thus far in 2023, at least five states have formally defeated various attempts at creating new cannabis markets. Read more here.

ICYMI: Oklahoma to Vote on Adult-Use Cannabis Tomorrow

The state already has one of the loosest MMJ industries in the nation, with low barriers to entry for entrepreneurs, a liberal allowance of cannabis for essentially any medical ailment, and thousands of businesses that have sprung into existence since the market launch in 2018. Read a summary of the measure here.

Missouri Cannabis Sales Top $100 Million in February, Localities Weigh Adding Taxes

Missouri surpassed the $100 million mark in marijuana sales for the month of February, its first month ever of selling both medical and recreational cannabis after adult use launched on Friday, Feb. 3. With such a strong start to the Missouri market, dozens of municipalities and county governments are now considering adding local taxes to recreational marijuana sales. Read more here.

Your Take: 3 Things to Know About New York’s Retail Cannabis Rollout from an Applicant

Scott Mazza is the co-founder and chief operating officer of Vitality CBD in Buffalo, New York.

New York’s recreational cannabis rollout is going from bad to worse. Last November, an out-of-state lawsuit stopped conditional adult-use retail licenses in five regions. Then, in January, a federal court upheld the injunction. All the while remaining retail applicants have been left in the dark amidst a thriving gray market. Read more here.

In Other News

Altria Group

Altria Group Inc. (NYSE: MO) entered into a definitive agreement to acquire NJOY Holdings Inc. for approximately $2.75 billion in cash payable at closing. The transaction terms include additional $500 million in cash payments that are contingent upon regulatory outcomes with respect to certain NJOY products. Read more here.


Bhang Inc. (CSE: BHNG) (OTCQB: BHNGF) signed a letter of intent to acquire 1352135 B.C. Ltd. to obtain access to minor-cannabinoid, cannabis, THC, and psychedelic-related patents and intellectual property pivotal in building Bhang’s portfolio beyond chocolate and edible cannabis brands. Read more here.

New Leaf Ventures

New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) received approval from the Washington State Liquor Cannabis Board for the sale of the license holder’s cultivation license to the third-party asset management company. This solidifies NLV’s sale of cultivation-related assets, through its wholly owned subsidiary New Leaf Equipment Co., providing an infusion of capital into current operations. Read more here.

Debra BorchardtMay 1, 2020


New Leaf Ventures Inc. (CSE: NLV) completed its initial public offering (IPO) of 4,768,871 units at a price of $0.25 per Unit, for aggregate gross proceeds of approximately C$1,192,217. The company had originally intended to raise $5 million.

The company said it intends to use the proceeds for the expansion and business development of its holdings in the United States, as well as for marketing activities, and for ongoing general working capital requirements.

New Leaf Ventures Inc. acquired ownership of New Leaf USA and its subsidiaries, which provide licenses, consulting services, real property, intellectual property and equipment for lease and ancillary services to a Washington-based Tier 3 Producer/Processor focused on cultivating, growing, processing, packaging, and distributing cannabis and cannabis-related products.

Each Unit is comprised of one (1) common share in the Company and one half (1/2) common share purchase warrant. Each Warrant will be exercisable at a price of $0.40 for a period of 24 months from the listing of the Common Shares on the Canadian Securities Exchange, subject to early expiry if the closing price of the Common Shares on the CSE  is equal to or greater than $0.60 per Common Share for a period of ten (10) consecutive trading days.

Following the completion of the Offering and closing of the Acquisition Transaction, the Company has 30,072,547 Common Shares issued and outstanding. The Common Shares have been listed and posted on the CSE and are anticipated to commence trading at market open on May 1, 2020, under the stock symbol “NLV.”

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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