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Video StaffVideo StaffJanuary 25, 2019

3min8550

It was a shortened trading week with Martin Luther King’s day celebrated on Monday.

Still, we’ve got a couple of acquisitions to report this week.

Tilray (TLRY) acquired Natura Naturals in a deal valued at $70 million. Natura gets $35 million at the closing, but if they hit certain milestones it could go higher. Last July Emblem said they were buying Natura for $75 million but that deal never went through.

High Times is buying the European cannabis event called Spannibis that is held in Spain. The company is paying $3 million in cash and $4 million in company stock.

Cronos Group (CRON) closed on a $65 million credit facility.

KushCo Holdings (KSHB) closed on a $34 million offering.

Doyen Elements International, Inc., announced its rebranding and renaming itself to Covalent Collective, Inc. In addition, the Company announced Bill Gregorak as Chief Executive Officer, effective immediately.

The news that took this week was an announcement by Acreage Holdings (ACRG.U) that it had tried to place an ad advocating for patients of medical marijuana to the Super Bowl. It was rejected by CBS who said it wouldn’t run cannabis ads. The ad featured three patients who told their stories of being helped by medical marijuana, not necessarily Acreages. It wasn’t promoting Acreage or suggesting you buy their product. Even though CBS won’t allow the ad, the stadium in Atlanta Georgia will be running a promotion for a CBD coffee product. So, that could be interesting if the cameras accidentally broadcast the stadium ad. That could get tricky

 


Video StaffVideo StaffJuly 26, 2018

2min4400

They say the future is female, and there are few places where that is more apparent than in the cannabis industry. Once thought of as a male-dominated industry, women have quickly claimed their place as leaders in this burgeoning industry.

According to Marijuana Business Daily, women make up approximately 27% of C-Suite level positions in the cannabis industry, which doesn’t sound like much until you realize that the national average is only 23%. What is unsettling, is that in 2015 women held 36% of executive control. That is almost a 10% loss of leadership positioning in less than 3 years.

As the market matures and continues to begin attracting more institutional capital, female entrepreneurs will have to work at keeping the industry a level playing field. And collectively, that is what the trends reveal that they are doing.

For women in cannabis, it has become a badge of honor to know that within their new burgeoning industry ready to take the globe by storm, they hold the largest percentage of ownership, management and control of any industry in the world for their gender. Therefore upon recognition of the possibility of losing that title, the women have begun to band together and work toward the goal of making cannabis the first industry in the world to achieve 50% female control.

To read more, download the Axiswire 2018 Trend Report that can be found here.


Video StaffVideo StaffJuly 18, 2018

4min3822

The Green Market Report Cannabis Company Index recovered following a challenging start to the year. After falling 21.9% in the first quarter, the Index on average gained 20% for the second quarter of 2018.

If you’ll recall at the beginning of the year, U.S Attorney General Jeff Sessions rescinded the Cole Memorandum and stocks responded accordingly with many investors taking profits gained in 2017. There was a great deal of fear that the Department of Justice (DOJ) would begin cracking down on the cannabis industry and shareholders wanted no part of that. As it turns out, the DOJ was more bark than bite and very little punitive action has taken place.

The second quarter began a slow climb back up the charts as shareholders began to return to the market comforted by the lack of movement by the DOJ. The quarter was significant for high profile IPO’s like MedMen Enterprises, The Green Organic Dutchman, and Green Thumb Industries. Adding to the excitement, the major stock exchanges in the U.S. opened their doors to Canadian cannabis companies. The NASDAQ welcomed Cronos Group and the New York Stock Exchange-listed Canopy Growth.

Canada’s final legislative approval for legalized adult-use marijuana in June was met with relief and it was capped off by Prime Minister Trudeau’s setting October 17, 2018, as the goal date for sales. Since so many Canadian cannabis companies have built business strategies around this market, it was encouraging to get a green light with a set date. Uncertainty is always unsettling and these final pieces to the legalization puzzle were finally put in place.

The medical market also received the expected good news for GW Pharmaceuticals from the FDA, which approved its cannabinoid drug Epidiolex. This drug will be used to treat rare forms of epilepsy called Dravet Syndrome and Lennox Gastaut. It uses real cannabis plants and is not a synthetic compound. The company had been achieving all of its drug trial study goals and there seemed to be no reason for the FDA to have turned the company down. So, even with positive expectations, getting the final word was heartening.

Still, the FDA made it clear that its approval did not change the scheduling status for cannabis and that the agency would send a recommendation to the DEA, but did not say what that recommendation would be. GW Pharma was more clear and adamantly stated that rescheduling would occur within 90 days.

This approval has many in the cannabis industry feeling that there will be some big moves for the rescheduling question as a result of the FDA’s approval. Even though there really is no guarantee of this happening, most feel that there is no turning back now for cannabis and a change in its classification is inevitable.

You can read the entire  Index Summary here.

 

 


Debra BorchardtDebra BorchardtNovember 24, 2017

3min7982

We hope everyone had a wonderful Thanksgiving holiday yesterday. It may be a holiday week, but there was still a bit of news that got delivered.

While we doubt anyone is still holding any shares of MassRoots (MSRT), there was more drama this week. Grab the popcorn. Earlier in the week, the company filed a lawsuit against the former Chief Executive Officer Isaac Dietrich and Dietrich promptly retaliated. The suit filed by MassRoots against Dietrich claimed he had used illegal drugs at the office and engaged in improper sexual activities at the workplace. If that wasn’t enough, the company also claimed that Dietrich misappropriated company funds to the tune of $250,000. Dietrich was not about to be outdone. He’s filed with the SEC a formal request for a shareholder vote. He wants to remove three shareholders and replace them with his board picks. 

Aurora Cannabis Inc. (ACBFF) has gone on a spending spree. The Canadian based cannabis company announced that it had entered into an agreement to acquire H2 Biopharma Inc. H2 is currently completing a 48,000 square foot cannabis production facility. Aurora also announced that it was acquiring greenhouse engineering company Larssen Ltd., This all is happening as the company embarks on a hostile takeover of CanniMed Therapeutics.

Axim Biotechnologies (AXIM) delivered its third-quarter earnings with revenues essentially flat, but losses were trimmed as the research and development expenses increased dramatically. Revenues weren’t even mentioned in the company’s press release regarding its earnings for the quarter ending September 30, 2017.

Canadian-based CannTrust Holdings Inc. reported its third-quarter earnings with revenues of C$6.1 million and net income of C$655,309. Revenues increased 680% over last year Active patients soared to 31,000 over last year’s 4,700 patient count for the same quarter.

Nevada continues to crush it with adult use cannabis sales. The state recorded $27.7 million in the recreational market, which was $5 million more than the state had planned, but a little less than August’s $33 million

And finally, Black Friday is also a big deal for the cannabis industry. Sales over the holiday weekend spike for dispensary owners and the brands alike. This is the second busiest holiday for sales for the industry with April 20 being the number one in sales.


Debra BorchardtDebra BorchardtSeptember 27, 2017

1min10410

In Conversation: The Economics of Cannabis. Moderated by Green Market Report CEO Debra Borchardt. Panelists included Angel Investor Alicia Syrett, Lord Jones Founder Robert Rosenheck, Casa Verde Capital’s Karan Wadhera, CEO of Ello Evan Eneman and LeafLink Co-founder Zach Silverman. Taped September 26, 2017 at NeueHouse in New York City



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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