Trees Corp. Archives - Green Market Report

StaffJuly 13, 2023


The Daily Hit is a recap of the top financial news stories for July 13, 2023.

On the Site

AYR Wellness, Trulieve Expand in Ohio Despite Cannabis Oversupply

Multistate cannabis operators continue to look at expansion opportunities in Ohio, despite a clear glut of cannabis products. U.S. cannabis operator, AYR Wellness Inc. (OTCQX: AYRWF), announced Wednesday. Meanwhile, MSO giant Trulieve Cannabis Corp. (OTCQX: TCNNF) opened its first medical marijuana dispensary in Columbus on Tuesday. Read more here.

MariMed Stages 280E Tax Protest in Boston Harbor

As hopes for federal legislative relief for the cannabis industry begin to fade, the focus has returned to the issue of 280e. In that spirit, MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) surprised crowds at Boston Harbor when they boarded the Liberty Star schooner and reenacted the tea party revolution. Read more here.

Illinois Grants 55 New Retail Cannabis Licenses Via Lottery

The state of Illinois added 55 more licenses to sell marijuana, adding to a pool of 192 licenses awarded last year. The new licenses could expand the industry in Illinois, which has suffered from a lack of retail outlets where customers can buy cannabis products. Read more here.

Native American Tribe May Open First Recreational Dispensary in Minnesota

A Native American tribal medical cannabis dispensary may become the first to launch in Minnesota’s recreational marijuana market, following a vote this week by the Red Lake Nation. Read more here.

Trees Corp Merges with 420 Investments in Reverse Takeover

Alberta-based 420 Investments Ltd. will go public via a reverse takeover of Toronto-based Trees Corp. (NEO: TREE), the companies said Wednesday. The merger is subject to the approval of Cboe Canada, which was formerly known as the NEO Exchange. Read more here.

North Carolina Won’t Legalize Medical Marijuana This Year, House Speaker Says

A bill to legalize medical marijuana in North Carolina that won bipartisan support earlier this year in the state Senate has been doomed in the lower chamber, the speaker of the state House of Representatives confirmed this week. Read more here.

In Other News

Grown Rogue International

Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) closed the first tranche of a non-brokered private placement of unsecured convertible debentures  with an aggregate principal amount $5 million. Read more here.


BZAM Ltd. (CSE: BZAM) (US-OTC:BZAMF) agreed to purchased an aggregate of 630,000 class A shares in the capital of BZAM Cannabis Corp., from certain minority shareholders pursuant to share purchase agreements entered into with each of the BCC shareholders. Once approved, the closing of the share purchase will result in the BZAM Ltd. owning 71.2% of BCC, which is a 13.6% increase of its existing ownership stake of BCC. Read more here.


Botanica, makers of Mr. Moxey’s and Journeyman cannabis-infused edibles, secured $9 million in Series B funding from a group led by KEY Investment Partners and GreenAxs Capital. Other prominent firms participating in the round include Entourage Effect Capital and AFI Capital Partners. In conjunction with the financing, Tiby Erdely of KEY will be joining Botanica’s board of directors. Read more here.

StaffNovember 28, 2022


The Daily Hit is a recap of cannabis business news for Nov. 28, 2022.


Veterans’ Plight Spotlights Need for Cannabis Legalization as Congress Moves Research Bill

As a historic House-passed cannabis research bill makes its way to President Joe Biden’s desk after surviving a Senate vote, questions remain regarding its impact on the future of federal legalization. One group whose concerns get washed in the stalemates and political acrobatics: former service members facing the specter of stigma and barriers to accessing safe medicine. Read more here.

NY Cannabis Regulators Disclose How They Chose Licensees

Retail cannabis applicants who lived in low-income areas, in public housing or were homeless when they were convicted of marijuana-related offenses had an advantage in the application process for legal cannabis dispensaries, according to details newly revealed in court papers. Read more here.

Bill Would Make Cannabis Companies Eligible for SBA Loans

A Democratic senator has formally introduced a bill that, if successful, would make U.S. cannabis companies fully eligible for federal loans through the Small Business Administration. Read more here.

Done Deals: Trees, Bright Minds

Despite the challenges of raising capital these days in the cannabis and psychedelics industry, two companies managed to close deals before the end of the year.

Read more here.

Cantor Issues Upbeat Cannabis Report

Cantor Fitzgerald analyst Pablo Zuanic wrote an upbeat research report on the major cannabis companies despite the somewhat depressing tone in the industry. Despite the sunny optimism, he opted to leave ratings, estimates, and price targets unchanged. Read more here.

More Earnings Reports


Cannibble Foodtech Ltd.

Cannibble Foodtech Ltd., (CSE: PLCN), a food tech company that develops and manufactures hemp-enhanced food and beverage products, has entered into a share purchase agreement to acquire Eshbal Functional Foods Cooperative Ltd., a private Israeli gluten-free food tech manufacturer. Read more here.


Hempacco Co. Inc. (Nasdaq: HPCO), a hemp smokables company, entered into a joint venture agreement with Sonora Paper Co. Inc. to manufacture, market, and distribute hemp blunt wraps, hemp tubes, and hemp smoking cones based on SPCI’s intellectual property. Read more here.

Hempacco also entered into a joint venture agreement with High Sierra Technologies Inc. (OTC: HSTI) for the production, marketing, and sales of hemp smokables. Pursuant to this agreement, HSTI and Hempacco formed a new Nevada corporation known as Organipure Inc, in which HSTI and Hempacco each own 50% equity interest. Read more here.

StaffNovember 28, 2022


Despite the challenges of raising capital these days in the cannabis and psychedelics industry, two companies managed to close deals before the end of the year.


The Canadian-based Trees Corp. (NEO: Tree) completed the closing of a non-brokered private placement of 745 units at a price of $1,000 per unit for gross proceeds of approximately $745,000. The closing is expected to be the final tranche closing in the larger offering for aggregate gross proceeds of $945,000, as previously announced on October 21, 2022. The company said it would the money for general working capital requirements and the opening of its next Trees Cannabis location in Etobicoke, ON, anticipated opening in January 2023. The company currently has 13 Trees branded storefronts in Canada, including eight (8) stores owned and operated in Ontario and five (5) stores operated in BC.

According to the company statement, each Unit consists of one 12.0% secured convertible promissory note bearing a principal amount of $1,000, convertible into common shares of the company at a conversion price of $0.015 per common share and maturing 36 months from the closing of the Private Placement

Bright Minds

Psilocybin drug company Bright Minds Biosciences Inc. (CSE: DRUG) (NASDAQ: DRUG)  announced a non-brokered private placement of pre-funded warrants of the company at a price of $1.249 per PFW and units of the company at a price of $1.25 per Unit. The aggregate minimum gross proceeds are $1 million and the aggregate maximum gross proceeds are $2,050,000. The company said it plans to use the money to complete the Phase 1 clinical trial for BMB-101 and a regulatory toxicology package and related activities for BMB-202.

Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain. The company’s drugs have been designed to potentially retain the therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating better drugs to first-generation compounds, such as psilocybin. Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult-to-treat disorders such as resistant epilepsy, treatment-resistant depression, PTSD, and pain.


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