SLANG Worldwide Archives - Green Market Report

StaffNovember 21, 2023
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The Daily Hit is a recap of the top financial news stories for Nov. 21, 2023.

On the Site

Family Sues Trulieve Over Death in Massachusetts Cannabis Facility

The family of Lorna McMurrey, a 27-year-old woman who died from an asthma attack at a Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) production facility in Massachusetts, has filed a wrongful death lawsuit against the company. Read more here.

Slang Puts Itself up for Sale

Slang Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) may be putting itself up on the sales block.. The decade-old cannabis company retained PGP Capital Advisors LLC to assist in exploring, reviewing, and evaluating strategic alternatives that may be available to maximize shareholder value. Read more here.

Cronos Group Gets Investor Case Dismissed

Cronos Group Inc. (NASDAQ: CRON) got some good news from U.S. District Judge Eric N. Vitaliano when he dismissed the investor lawsuit against the cannabis company. The lead plaintiff in the case, Keith Norman, alleged that Cronos Group knew it mislabeled some transactions that it recorded as sales. Read more here.

MariMed Secures $58.7M from Needham Bank

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) closed on a 10-year $58.7 million loan with Needham Bank, a Massachusetts-based community bank. The money from the loan will first be used to pay off existing loans and potentially buy some assets, the company said. Read more here.

Earnings:

Indiva Posts Record Earnings as Cannabis Edibles Demand Surges

LEEF Brands Faces Revenue Decline Despite Cost-Cutting Efforts

In Other News

AgriCann Solutions Corp.

AgriCann Solutions Corp. received licensing from Health Canada that allows for the production and distribution of a wide range of cannabis-infused products, including edibles, beverages, concentrates, and topicals (the “Cannabis 2.0 licence”), through AgriCann’s wholly owned subsidiary Newline Ventures Inc. Read more here.

Curaleaf Holdings

A lawsuit in Florida federal court alleges cannabis company Curaleaf discriminated against one of its managers due to his age and an injury he sustained at work by firing him after he enlisted an attorney to assist with his workers’ compensation claim. Read more here.

Veriheal

Cannabis health-tech company Veriheal announced the three winners of its annual Innovation in Cannabis Scholarship for 2023, each of whom will receive $10,000 to put toward college tuition and fees. Read more here.


StaffMay 24, 2023
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4min00

The Daily Hit is a recap of the top financial news stories for May 24, 2023.

On the Site

Massachusetts Cancels Cannabis Lounge Pilot Program to Aid Openings

Massachusetts marijuana regulators on Monday decided to cancel a long-planned pilot program for the rollout of cannabis consumption cafes, a move they hope will get such lounges open sooner instead of later. Read more here.

Delaware Allocates Money, Staff to Establishing Adult-Use Cannabis Market

Delaware lawmakers this week took the first step toward implementing the state’s new recreational marijuana market by allocating $2.2 million and 34 staff members to the job in the upcoming annual budget. Read more here.

NY Cannabis Authorities: ‘No Historical Precedent’ for Lawsuit Claims

Cannabis regulators in New York asked a state court to dismiss a lawsuit filed by a group of medical operators. The group, known as the Coalition for Access to Regulated & Safe Cannabis, said the state has not done enough to suppress unlicensed marijuana sales. Read more here.

Michigan Regulators Propose Stripping Licenses from Companies that Don’t Pay Vendors

In proposed rules released this month, Michigan’s Cannabis Regulatory Agency is seeking authority to deny licenses to businesses found in court to have not paid vendors. It’s a move that would set the industry apart from nearly every other industry in the state. Experts in the industry, however, believe the rule could create havoc in an industry already under financial pressure due to low prices. Read more here.

Earnings:

Cresco Labs Stays Locked on Columbia Care Megadeal Amid Mixed Results
Slang’s Investment in Vermont Pays off as Revenues Rise

In Other News

PRODUCT RECALL: Green Trees Medicinals

Colorado’s Marijuana Enforcement Division has announced a recall for marijuana from Green Tree Medicinals, a dispensary in Berthoud, because of potentially dangerous levels of the mold aspergillus. The recall, issued May 23, includes three recreational harvest batches and one medical batch of flower, shake or trim sold at Green Tree from Jan. 5 through March 30. Read more here.

Dama Financial

A marijuana financial services company has revised its testimony on a congressional cannabis banking bill following pushback over remarks made at a Senate committee hearing this month where a compliance officer suggested a “pause” to further amend the legislation. Read more here.

Lowell Farms

Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) closed a sale leaseback transaction with New Wilston Associates LLC pursuant to which Lowell SR LLC, a subsidiary of the company, has sold its drying and midstream processing facility in Monterey County California for aggregate consideration of $19.4 million, including the buyer’s assumption of the existing mortgage on the facility. Read more here.


StaffMay 8, 2023
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The Daily Hit is a recap of the top financial news stories for May 8, 2023.

On the Site

Trademark Appeals Board Rules Against Cannabis Company in Trademark Case

In a first-of-its-kind decision, the Trademark Trial and Appeal Board has upheld the Controlled Substances Act in a cannabis trademark case. The unanimous board ruled against National Concessions Group, a Denver-based subsidiary of Canadian cannabis consumer goods company SLANG Worldwide (OTCQB: SLGWF), on the grounds that cannabis is a federally illegal substance. Read more here.

Delaware Adult-Use Cannabis Sales May Not Launch Until 2025

Delaware, the latest state to join the adult-use cannabis club, won’t actually begin recreational marijuana sales for another year and a half, at the minimum, and perhaps not until early 2025. Read more here.

California Whistleblower Alleges Millions in Cannabis Diversion by Former Employer

As California continues to grapple with the problem of its cannabis being smuggled as far away as New York City, one longtime West Coast industry insider says authorities have declined to act on information about his former employer, a marijuana executive he said shipped at least $2 million worth of legal cannabis out of state in a roughly 10-month period from 2021 to 2022. Read more here.

Curaleaf, Green Thumb Both Bullish Despite Very Different Financials

Massachusetts-based Curaleaf lost more than a third of a billion dollars in 2022. Chicago-based Green Thumb Industries, by contrast, made $12 million last year and $9 million in just its first quarter of 2023. Read more here.

Florida to Grant Additional Cannabis Licenses for Black Farmers

Florida’s medical marijuana market is poised for expansion following the passage of a bill that extends the renewal of marijuana prescriptions over telehealth and authorizes nearly a dozen additional licenses for Black farmers to enter the cannabis industry. Read more here.

Earnings:

Innovative Industrial Properties Posts $40 Million Profit in First Quarter
MariMed Year-Over-Year Profits Sink, But Expansion Continues

In Other News

SAFE Banking Act

Senate Majority Leader Chuck Schumer (D-NY) spoke at a marijuana rally in New York City on Saturday, vowing again to pass federal cannabis banking reform legislation as Congress works to end prohibition. Schumer emphasized his commitment to advancing the marijuana banking legislation with criminal justice provisions included, calling the broader effort to repair the harms of the drug war a “moral responsibility” for Congress. Read more here.

Nova Cannabis & SNDL Inc.

Shareholders of Nova Cannabis Inc. (TSX: NOVC) approved a resolution related to the proposed transaction between the company an dSNDL Inc. (Nasdaq: SNDL) to create a cannabis retail platform in Canada. Read more here.


Adam JacksonMay 8, 2023
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In a first-of-its-kind decision, the Trademark Trial and Appeal Board has upheld the Controlled Substances Act in a cannabis trademark case, despite state-level legalization.

According to Law360, the ruling came in response to a trademark application submitted by the National Concessions Group, a Denver-based subsidiary of Canadian cannabis consumer goods company SLANG Worldwide (OTCQB: SLGWF).

National Concessions pursued a trademark to protect the brand name “Bakked” for selling what the firm characterizes in its application as an “essential oil dispenser, sold empty, for domestic use.” However, the TTAB unanimously agreed with the examining attorney’s contention that the product is illegal drug paraphernalia, as it is primarily intended for “dabbing” cannabis-based oils.

In her precedential decision, Administrative Trademark Judge Cindy Greenbaum stated that Colorado’s state laws legalizing marijuana would not affect federal law or laws in other states. She noted that the federal trademark registration the applicant sought would be nationwide in effect, further complicating the matter.

The application’s rejection also stemmed from a press release by National Concessions, which advertised its products as being from the largest cannabis company in the country. That led the panel of trademark board judges to agree with the examiner’s argument, supported by news clippings used as evidence such as “The Official Dab Dictionary” and “Dabbing is Becoming a New Way to get High.”

Greenbaum also clarified that the application differed from registrations granted to products like tobacco jars, grinders, rolling paper, or e-cigarettes, which may also be used with cannabis products but are not unlawful under the CSA.

Pamela Hirschman, the National Concessions lawyer, expressed frustration over the decision, citing the legality of cannabis in the majority of states. She argued that there should be a way to protect both consumers and companies from infringement. The client has not yet decided whether to appeal the decision to a federal appeals court.

“At this point and time, the trademark office is very hesitant to allow registrations for goods that could be considered covering goods that could be considered drug paraphernalia,” she added.


StaffApril 27, 2023
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The Daily Hit is a recap of the top financial news stories for April 27, 2023.

On the Site

Investors Challenge New York’s OCM Policy Director at MJ Unpacked

Alex Bernabe, the chief of staff and senior policy director of the New York Office of Cannabis Management, faced tough questions from the investing community at this week’s MJ Unpacked conference. While Bernabe started out by noting the positives in the New York market, the audience was primarily focused on the TPI, or true party of interest, rule that addresses investors with out-of-state investments. Read more here.

Applicants for New Cannabis Licenses in Illinois Nearly Triple After Rules Overhaul

Nearly 3,000 applicants will be competing in next month’s lottery for 55 new licenses to sell marijuana in Illinois. The state recently overhauled the original licensing process, making it easier and cheaper to seek a dispensary license. Read more here.

POSaBIT Aims for $60M in Revenue in 2023

POSaBIT Systems Corp. (Nasdaq: KERN), a legal cannabis payment provider, posted its financial results for the last quarter and full year of 2022, showing record-level revenues and signs of promising expansion. Read more here.

Slang’s Cash Flow Goes Green from Streamlined Vermont Operations

Toronto-based Slang Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) posted earnings results that flex its strategic partnerships and the expansion of its product sales channels. The company generated positive operational cash flow in the fourth quarter of 2022 and again in the first quarter of 2023, marking two consecutive quarters of positive operational cash flow for the first time in the company’s history. Read more here.

Commercial Property Purchases Decline as Cannabis Businesses Turn to Leasing

A new study from the National Association of Realtors showed a notable decrease in commercial property purchases by marijuana industry-related businesses, accompanied by a rise in leasing activity. Read more here.

In Other News

Trulieve Cannabis Corp.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced the grand opening of Georgia’s first medical cannabis dispensary in Macon. The new dispensary will be open 10 a.m.- 7 p.m., seven days a week. Trulieve also opened a dispensary in Marietta and has plans to open three more this year. Read more here.

SAFE Banking Act

A group of bipartisan lawmakers reintroduced the Secure and Fair Enforcement (SAFE) Banking Act in the House and Senate on Wednesday, after the legislation designed to free up banking services for the cannabis industry stalled in last year’s Congress. Read more here.

New York City

A prominent Harlem business group filed a lawsuit on Wednesday seeking to stop the state from building a recreational cannabis dispensary on the neighborhood’s main street, adding to the challenges faced by New York State in its rollout of the recreational marijuana industry. Read more here.


StaffMarch 8, 2023
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4min00

The Daily Hit is a recap of the top financial news stories for March 8, 2023.

On the Site

Oklahoma Voters Reject Adult-Use Cannabis in Low-Turnout Special Election

Oklahoma’s burgeoning cannabis industry will remain medical only after voters rejected a proposed ballot initiative that would have legalized adult-use marijuana in the state. Nearly 62% voted no, while 38% voted yes, with more than 95% of ballots counted as of Wednesday morning. Despite the backing of several high-profile organizations, including the Oklahoma Democratic Party and the Marijuana Policy Project, the initiative faced opposition from law enforcement groups and some prominent political leaders. Read more here.

Slang Worldwide Latest Multistate Brand to Exit California

Slang Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) will become the latest multistate cannabis brand to effectively pull up stakes from California, CEO John Moynan said in an interview with Green Market Report on Tuesday. The pivot comes less than two years after the company made a splash about re-entering California, which it previously left in 2019. Read more here.

Michigan’s Skymint in Receivership, Showing Cracks in Cannabis Market

Skymint, one of Michigan‘s largest marijuana cultivators and retailers, is now under the control of a receiver as the industry faces an increasingly difficult market in the state. The action by the Ingham County Circuit Court in Lansing signals what could be one of the largest marijuana company failures in the U.S. in the nearly decade-long span since the substance was legalized in certain states. Read more here.

Trulieve Revenue Slips in Fourth Quarter

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) delivered fourth-quarter revenue of $302 million, with 2% retail revenue growth and 96% of revenue from retail sales. This fell by 1% from $305 million in the same time period in 2021 and missed the Yahoo Finance estimate for revenue of $304 million. Read more here.

IM Cannabis Corp. to Lay Off At Least 20% of Workers in Major Restructuring

Israel-based IM Cannabis Corp. (Nasdaq: IMCC) (CSE: IMCC) announced Wednesday it will lay off at least 20% – and perhaps up to a quarter – of its employees in its Middle East home nation, in a restructuring push toward profitability. Read more here.

In Other News

NewLake Capital Partners

NewLake Capital Partners, Inc. (OCTQX: NLCP), a provider of real estate capital to state-licensed cannabis operators, reported revenue of $12.2 million for the fourth quarter ended Dec. 31, 2022. That’s a year-over-year increase of 35.7%. Net income attributable to common stockholders totaled $6.7 million, as compared to $4.3 million. Read more here.

Women in Cannabis

Women holding executive positions in the cannabis industry only grew 1% to 23.1% in 2021, short of the greater US business world where women hold 35% of leadership. Maybe if women had more control of the industry – you would see stronger performance. Read more here.


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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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