Unrivaled Brands Archives - Page 2 of 2 - Green Market Report

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

On the Site

Silicon Valley Bank Failure Could Have Tangential Effects for Cannabis, Experts Say

The surprise failure on Friday of Silicon Valley Bank – the biggest U.S. bank to fail since 2008 – has some marijuana finance experts warning that there are almost certain to be ripple effects for cannabis companies, even if the cannabis sector doesn’t take a direct hit from SVB going under. Read more here.

Glass House Brands 2022 Sales Improve as California Flower Prices Rise

California-based single-state operator Glass House Brands (OTC:GLASF) has positioned itself to benefit from rising flower prices in the state as more competition bounces out of the cultivation business. Read more here.

Michigan Court Approves Skymint Order as Industry Braces for Receiverships

A Michigan court officially approved an order that appoints an independent third party to oversee the financial management of Skymint, the brand name for Green Peak Innovations Inc. Skymint, which owes its investors at least $135 million and is behind on rent obligations and back taxes, was placed into receivership by a judge last week. Read more here.

Oregon Cannabis Prices Bottoming Out Again

Oregon marijuana prices have hit their lowest point in the history of the state’s legal market, at $4 a gram for average recreational customers. That’s down 16% from last year, according to an annual report from the Oregon Liquor and Cannabis Commission delivered to the state legislature last month. Read more here.

Unrivaled Brands, People’s California Settle All Litigation

A messy case of legal fingerpointing between two California companies has apparently ended amicably, with both Unrivaled Brands and People’s California agreeing to a settlement. Although the terms of the settlement were not immediately disclosed, the end result is that both companies will “request a stay of all pending litigation.” Read more here.

In Other News

High Fusion

High Fusion Inc. (CSE: FUZN) closed the sale of its property in Pueblo, Colorado, with funds received on March 10, 2023, to be applied to the repayment of the 2020 debentures. The Property was originally purchased by the company in 2014 and leased to Palo Verde LLC, a licensed cannabis business under the Colorado Marijuana Enforcement Division. In March 2021, High Fusion was approved for the transfer of the MED license, and Palo Verde LLC was purchased at that time. However due to a lack of funding, the Palo Verde operation had minimal activity during 2022, and both the medical and adult use licenses have not been renewed. Read more here.

Heritage Cannabis

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) met the regulatory requirements and has achieved approval from the Brazil Health Authority (ANVISA) to import its first formulated CBD product into Brazil. Heritage also achieved stability on two additional products that are awaiting final approval. Read more here.


StaffFebruary 21, 2023
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4min00

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

On the Site

OCM Claims Variscite Application Score Too Low for a License

New York’s Office of Cannabis Management took another swing at the case filed by Variscite NY, which has stalled the adult-use licensing program in three state regions. The agency filed a motion last week with the Appeals Court for the Second Circuit asking it to block the current case, arguing that Variscite’s New York license application would likely not be approved based on its low score. Read more here.

MedMen Looks to Sell Assets in Arizona, Illinois & Nevada

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) hired ATB Capital Markets Inc. to help the company review and sell one or more of its noncore assets in Arizona, Illinois, and Nevada. ATB will help MedMen determine which assets to sell to boost liquidity and maximize shareholder value with an asset-light model. Read more here.

MariMed, Schwazze Active in Acquisitions

MariMed, Inc. (CSE: MRMD) (OTCQX: MRMD) announced it is buying the operating assets of troubled medical dispensary Ermont, Inc. located in Quincy, Massachusetts. Meanwhile, Schwazze (NEO: SHWZ) (OTCQX: SHWZ) announced it was buying Cannabis Care Wellness Centers, LLC and Green Medicals Wellness Center #5, LLC also known as Smokey’s. Read more here.

Unrivaled Brands Finds Growth Under Leadership of Cookies CFO

Unrivaled Brands Inc. (OTCQB: UNRV) saw 10% growth in sales through 2022 under a new batch of executives trying to turn the once-scaling company around. Sales growth appears to be one of the fewer upbeat aspects of the company’s journey lately, after a turbulent year of lawsuits, C-suite shuffles, and shareholder angst fueled by market woes. Read more here.

Canopy Growth Dilutes Shares Again in $150 Million Public Offering

Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) entered into an agreement with an institutional investor for a convertible debt issuance worth $150 million, which provides access to needed capital but further dilutes shares for existing shareholders. Read more here.

In Other News

The Cannabis Place

The Cannabis Place, a firm licensed to open a recreational marijuana dispensary in Queens, New York, plans to make delivering to Nassau County a major part of its business model. After winning a license last month, Suffolk County resident Osbert Orduña and his partners found a “phenomenal” location in the western part of the borough that’s a block away from the subway and has a garage bay for delivery drivers, according to Orduña. Read more here.

Canonic

Israeli cannabis developer Canonic on Tuesday launched a series of hybrid cannabis products produced with the aid of artificial intelligence. The strains were bred selectively to contain higher levels of THC and particular terpene characteristics with the assistance of the tech engine “GeneRator AI” developed by Evogene, of which Canonic is a subsidiary. Read more here.


StaffJanuary 5, 2023
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4min00

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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5min00

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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