Unrivaled Brands Archives - Green Market Report

StaffJanuary 5, 2023
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4min8960

The Daily Hit is a recap of cannabis business news for Jan. 5, 2023.

ON THE SITE

Cannabis Legalization Bills Introduced in Minnesota, South Carolina

At least two more states this year will consider legalizing cannabis in some form. In Minnesota, Democratic lawmakers on Thursday introduced HF 100, which would legalize recreational cannabis. In South Carolina late last month, Republican lawmakers pre-filed two bills, both of which would legalize marijuana for medical uses. Read more here.

Colombia Leans Further Into Cannabis

The country of Colombia may have a reputation as the home for cocaine cartels, but it is leaning further into cannabis these days. According to government claims, the country has received $250 million in international funding in support of the cannabis sector. Read more here.

Pontiac, Michigan, May Finally Get Adult Use Cannabis

Pontiac City Council plans to finalize a city ordinance on Jan. 10 to allow adult-use recreational marijuana businesses to operate in Oakland County’s sixth-largest city. Voters approved a proposal in 2018 that called for 20 adult-use marijuana retailers with no license limits for grow operations, processors, or transportation firms. Read more here.

Untapped Southern Markets Face Uphill Battle

The South may be the last frontier for state cannabis legalization, but the region could be a boon for the industry once the floodgates open. A report from cannabis consulting firm Global Go posits that these four states could provide value for entrepreneurs sitting on the sidelines of Florida’s limited vertical model. Read more here.

IN OTHER NEWS

Unrivaled Brands

Unrivaled Brands, Inc. (OTCQB: UNRV), a cannabis company with operations in California, enters into binding Letters of Intent with two Cookies-branded retail stores in that state: Cookies Redding and Cookies Oakland. Read more here.

The Parent Co.

TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused California cannabis company also known as The Parent Co., entered into modification agreements to restructure its relationship with Roc Nation LLC and SC Branding LLC.

As part of the arrangement, Shawn ‘JAY-Z’ Carter and affiliates and Roc Nation will return approximately 7.1 million common shares of The Parent Company, enabling TPCO to save roughly $33.5 million in top-line costs over eight years. Roc Nation and JAY-Z affiliates  are expected to remain substantial shareholders and to continue working with The Parent Company across innovation, brand strategy and social justice fair equity opportunities. Read more here.


StaffNovember 7, 2022
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5min7630

The Daily Hit is a recap of cannabis business news for Nov. 7, 2022.

ON THE SITE

Agrify Faces Hostile Takeover

Last week, Agrify Corp. (Nasdaq: AGFY) shareholder Marc Beginin stated he wants to reorganize the company in a hostile takeover. Beginin is the chief executive officer of Prodigy LLC, which operates as Prodigy Processing Solutions. He was formerly the CEO and founder of Precision Extraction Solutions before it was acquired by Agrify in October 2021. Read more here.

Unrivaled Sued for Breach of Contract, Responds with Fraud Allegations

An acquisition deal that only a year ago was celebrated by the buyer, Unrivaled Brands (OTCQX: UNRV), as key to making the business a “preeminent West Coast multistate operator” has now apparently fallen apart, with both companies suing each other over various alleged misdeeds. Read more here.

Tilray Snaps Up Another Alcohol Company, Expands Into Northeast

Tilray Brands Inc. (Nasdaq: TLRY) said Monday that it bought Montauk Brewing Company and tapped veteran beverage executive Ty H. Gilmore to lead Tilray’s U.S. beer business in a bid to secure more alcohol profits. Read more here.

High Times Buys Moxie in All-Stock Deal

Hightimes Holding Corp. and HT Red LLC, a wholly owned subsidiary of Hightimes, bought MXY Holdings Inc., also known as Moxie Holdings, in an all-stock deal. Moxie is known for cultivating, producing, manufacturing, distributing, and selling cannabis products in the state of California. Read more here.

Michigan-based JARS Buys Colorado’s Euflora

Michigan-based private company JARS Cannabis is buying Colorado-based Euflora LLC for an undisclosed amount. The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the fourth quarter. Read more here. 

Earnings Round-Up:

IN OTHER NEWS

IM Cannabis

IM Cannabis Corp. (Nasdaq: IMCC) (CSE: IMCC), an international medical and adult-use recreational cannabis company, announced that it is commencing exit of the Canadian cannabis market to focus its resources on pursuing growth opportunities in Israel, Germany, and Europe. With this move, the Company aims for a leaner organization with a primary focus on achieving profitability in 2023. Read more here.

Vext Science

Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF), a multistate cannabis company with expertise in extraction, manufacturing, cultivation, and marketing, announced the refinancing of the company’s existing $4.4 million principal amount of 10% secured nonconvertible debentures issued by the company on Dec. 31, 2019, and maturing Dec. 31, 2022. 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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