OTCQB Archives - Green Market Report

William SumnerWilliam SumnerMay 1, 2019
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6min9380

It’s time for your Daily Hit of cannabis financial news for May 1, 2019.

On The Site

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) is going to acquire Cura Partners, Inc. the owners of the Oregon-based Select brand, in an all-stock deal valued at C$1.27 billion or $948.8 million. The company said that the acquisition includes Select’s manufacturing, processing, distribution, marketing, and retailing operations and all adult-use cannabis products marketed under the Select brand name, including all intellectual property. The deal is expected to close in 2019.

Emerald Health

Emerald Health Therapeutics, Inc.  (TSXV: EMH) (OTCQX: EMHTF) delivered fourth quarter and 2018 results along with an update of its first-quarter sales. The revenue in the fourth quarter was $1.1 million versus last year’s $279 thousand for the same time period. The net loss in the fourth quarter was $13.9 million, higher than the third quarter’s losses of $6.4 million.

WeedMD

The licensed cannabis producer and distributor WeedMD Inc. (TSX-V: WMD) (OTCQX: WDDMF) announced its financial results for the fiscal year ending on December 31, 2018. WeedMD’s revenue for the full year grew from $1.4 million to $8.2 million, representing an increase of 456%. The company’s net and comprehensive loss declined dramatically, falling from $8.8 million to just $895,128.

In Other News

Golden Leaf

Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) has reported its financial results for the 2018 fiscal year. Full-year revenue was $16.5 million, up 43% from $11.5 million in 2017. Gross profit declined slightly from 15% of total revenue ($1.7 million) to 13.3% of revenue ($2.2 million). The company’s comprehensive loss declined significantly, falling from $55.9 million in 2017 to $4.4 million, and its net loss was $4.6 million.  “Looking forward, we remain focused on growing revenue by expanding our retail footprint, product array and cultivation presence throughout the U.S. and Canada. At the same time, we are committed to growing responsibly while improving our margin growth and EBITDA. Towards that end, we have taken several measures this year to increase efficiencies throughout our organization to lower costs, increase cash flow and improve our overall financial performance,” said Golden Leaf CEO William Kulczycki.

Dixie Brands

Today, Dixie Brands Inc. (CSE: DIXI.U) (OTC: DXBRF) (Frankfurt: 0QV) announced their financial results for the fiscal year ending on December 31, 2018. Revenue for the year was $5.7 million, up 73% from $3.3 million in the previous year. Fourth quarter revenue was $1.5 million. The gross profit margin was 52% ($3.01 million), up from 47% ($1.5 million) in 2017. Net losses rose significantly, climbing from $4.3 million in the previous year to $21.23 million. Company management attributes the steep climb to “significant increase in operating and other expenses,” such as its reverse takeover of Academy Explorations Limited and public listing activities.  “The financing and public listing we completed in the final weeks of 2018 set the stage for a breakout year in 2019,” said Chuck Smith, President and CEO, Dixie Brands. “Dixie accomplished a lot as a private company, building up an industry-leading portfolio of more than 100 commercialized products.  We are very excited by our opportunities to invest our capital into strengthening our distribution network and market presence to accelerate our growth.”

Weekend Unlimited

Weekend Unlimited Inc. (CSE: POT) (FSE: 0OS1) (OTCQB: WKULF) today announced the appointment of Chris Backus as Interim President and CEO, effective immediately. Backus was appointed to the company’s Board in March of this year and previously served as a former Senior Officer and Manager with the Royal Canadian Mounted Police (RCMP). Backus will focus on the launch of the company’s wknd! brand product line, generating revenues with CHAMP and Verve beverages in the USA, and the ramp-up of the Northern Lights Organics hemp farm in Canada. “’I am energized to accept this leadership role with Weekend Unlimited. Working with the Board and the team, my focus is entirely toward harnessing the Company’s assets to deliver results for shareholders,”’ said. Backus. “This means an immediate mandate to execute on ready-to-go initiatives that will drive revenues while building strong consumer awareness of the Company’s brands. Simultaneously, we will responsibly advance our initiatives supporting growth in the longer term.”


William SumnerWilliam SumnerMay 1, 2019
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5min7630

It’s time for your Daily Hit of cannabis financial news for April 30, 2019.

On The Site

Sunniva

After the market closed on Monday, Vancouver-based Sunniva Inc.  (CSE: SNN) (OTCQB: SNNVF) reported its fiscal 2018 results for the year ending December 2018 in Canadian dollars. The company delivered$18.8 million in revenue versus 2017’s $16.1 million. The net losses for 2018 rose to $29.0 million versus last year’s $17.5. The company attributed the increase in net losses to SG&A expenses increasing by $10.5 million during the year.  The increase was primarily due to the company’s growth in 2018 as US operations

Texas Continues To Take Baby Steps Towards Legalization

The Texas Tribune reported on Monday that the House of Representatives approved a bill that would decriminalize possession of cannabis. Rep. Joseph Moody (D), the chief sponsor of the bill, still had to amend it in order to get the bill approved. His original version had a lower fine of $250 and it would have dropped down low-level possession to a civil infraction instead of a class C misdemeanor.

How Risk Management Can Make Marijuana Businesses Bulletproof

Envision managing the risk of a volatile, staggeringly lucrative, 100 percent federally legal enterprise?   Toss in ridiculously inconsistent federal, state and local regulations, insanely evolving technologies and efficiencies, and an industry-wide disinclination to ever “play by the rules.” However, when armed with decent risk management fundamentals, a marijuana related business can diminish most horrible outcomes, fortify the enterprise’s sustained growth, and maybe even get rich along the way.

In Other News

Driven Deliveries

Driven Deliveries Inc. (OTCMKTS: DRVD), the only publicly traded cannabis delivery company, has announced that it has entered into a non-binding Letter of Intent to acquire Ganjarunner, Inc., a Los Angeles-based cannabis delivery company. Ganjarunner has an existing customer base of over 10,800 customers, 82% of whom are repeat customers. “This acquisition will provide us with a stable revenue base from which we can continue to grow our revolutionary cannabis delivery platform,” commented Mr. Brian Hayek, President of Driven Deliveries. “Driven will continue to target similar acquisition candidates which we believe to be accretive to our business and provide our partners and us with strategic advantages in this industry.”

Indus Holdings

Today, Indus Holdings Inc. began trading on the Canadian Securities Exchange under the symbol INDS. Indus is a vertically integrated cannabis company based in Salinas, California. The listing was made possible through a reverse takeover of the Toronto-based company Mezzotin Minerals Inc. “This long-anticipated move to the Canadian Securities Exchange creates a world of opportunities for Indus to build upon our success in California and expand into new markets,” said Indus co-founder and CEO Robert Weakley in a statement. “Having access to additional capital will allow us to grow at a more rapid pace, furthering Indus’ position in the cannabis industry.”

KushCo

KushCo Holdings, Inc. (OTCQB: KSHB) announced that it has entered into a definitive agreement with an institutional investor for a private placement of $21.3 million. Canaccord Genuity LLC is acting as the sole placement agent. The Note will be an unsecured senior obligation of the company and will mature 18 months following the closing data. The offering is expected to close on or around April 30, 2019. ‘”We are thrilled to announce this unsecured, non-dilutive financing structure to support our company’s rapid growth. The terms of this note represent a dramatic improvement in our ability to secure financing with a lower cost of capital and is indicative of more attractive financing alternatives within the cannabis industry,” said KushCo’s CEO Nick Kovacevich.


William SumnerWilliam SumnerApril 25, 2019
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4min9540

It’s time for your Daily Hit of cannabis financial news for April 25, 2019.

On The Site

Bank of America Merrill Lynch Initiates Coverage On Cannabis Industry

It was a significant move for the financial industry and the cannabis industry when Bank of America Merrill Lynch (BAML) released a 62-page report entitled “A cannabis world… and more people are living in it.” Green Market Report combed through this detailed report to find some poignant highlights brought forth by Bank of America Merrill Lynch in their analysis of the growing global cannabis market.

SOL Global

SOL Global Investments Corp. (CSE: SOL) (OTCQB: SOLCF), the owner of 3 Boys Farms, which holds one of Florida’s original 14 operating and vertically integrated medical marijuana treatment center licenses, has entered into a binding letter of intent with cannabis-focused private equity firm Merida Capital Partners  to acquire Merida’s Michigan subsidiary, MCP Wellness, Inc. in a deal valued at $150 million.

In Other News

Vireo Health

Vireo Health International, Inc. (CSE: VREO) announced that its patent application titled, “Tobacco Products with Cannabinoid Additives and Methods for Reducing the Harm Associated with Tobacco Use” has been approved by the United States Patent and Trademark Office (USPTO). The patent application covers the use of cannabinoids as a “harm reduction agent” in certain tobacco products such as cigarettes, pipe tobacco, or smokeless tobacco products.

MariMed

MariMed Inc. (OTCQB: MRMD) announced that its subsidiary MariMed Hemp will acquire a 70% of MediTaurus, which owns the CBD health and wellness brand Florance, which has an established retail presence in both the United States and the European Union. The acquisition is part of MariMed’s strategy to optimize its investment in the Kentucky-based CBD producer GenCanna Global Inc. Terms of the transaction were not disclosed. “We at MediTaurus are extremely pleased to be joining the MariMed family and combining our expertise to further develop innovative products and processes and creating world-class brands with fully compliant and transparent supply and production,” said MediTaurus CEO and co-Founder Dr. Jokūbas Žiburkus. “The current dynamic growth of hemp and medical cannabis presents unprecedented opportunities for synergies among scientists, medical practitioners, consumers, and the financial marketplace.”


William SumnerWilliam SumnerApril 11, 2019
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4min6980

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

On The Site

Cresco Labs

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) received approval from the Illinois Department of Financial and Professional Regulation (IDFPR) for Cresco’s previously announced acquisitions of licensed medical cannabis dispensaries MedMar Rockford and MedMar Lakeview, located in the popular Wrigleyville neighborhood of Chicago.

Trulieve

Trulieve Cannabis Corp. (CSE: TRUL) reported its fourth quarter and 2018 full-year results with revenue rising 172% to $35.9 million from last year’s $28.3 million for the same time period. The company’s net income grew a whopping 3,467% in the fourth quarter to $10.7 million from last year’s $0.3 million for the same time period.

In Other News

KushCo Holdings

KushCo Holdings (OTCQB: KSHB) announced the release of their financial results for the second fiscal quarter of 2019, which ended on February 28, 2019. Quarter-over-quarter, the company’s revenue rose by 39% to $35.2 million. The net loss for the quarter was $8.9 million. Adjusted EBITDA was $5.2 million. As of February 28, the company had $17.9 million in cash. “Our focus remains the build out of a scalable, sustainable business, as we cement our presence as the primary supply chain partner to the cannabis, CBD and related industries,” said KushCo CEO Nick Kovacevich. “As a result of a strong first half of the year, including the signing of a number of long-term supply arrangements-in-principle with several new large, well-known customers, we are raising our revenue guidance from between $­110 million and $120 million for fiscal year 2019 to between $140 million and $150 million.”

White Label Liquid

White Label Liquid, Inc. (OTC: WLAB) today released their financial results for the 2018 fiscal year. Revenue for the year was $7,006,110. The company experienced a net loss of $149, 285. “We had a great year, but it’s only just the beginning,” said White Label Liquid CEO Yaron Elkayam in a statement. “These numbers reflect not just the hard work of our partners all along our supply chain; they are also a reflection of the growing strength of the CBD industry.”

Eve & Co Incorporated

Eve & Co Incorporated (TSX-V: EVE) has entered into an engagement letter with Haywood Securities Inc. Haywood Securities has agreed to purchase 20 million special warrants of the company, at a price of $0.50 per warrant, for a total of $10 million. The offering is expected to close on or around May 10, 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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