weed Archives - Green Market Report

Kaitlin DomangueKaitlin DomangueFebruary 6, 2020
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6min8160

It’s time for your Daily Hit of cannabis financial news for February 6th, 2020. 

On the Site

Planet 13 Cafe Is Paying Off As Sales Stay Strong

 

Las Vegas-based cannabis dispensary Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) reported record-breaking January sales driven by strong traffic and attributed it to the company’s newly opened cafe and event space. The company said that the average ticket size was approximately $100. Planet 13 said that January revenue was ~10% higher than the seasonally slow months of November and December.

CBD Craze Sparks ‘Weed Washing’ Trend

 

Remember the term ‘pinkwashing’? Where companies slapped a pink ribbon on just about anything and claimed to be donating lots of money to breast cancer research? It’s happening again, but this time it’s in the cannabis industry.

“Weed washing” is a disturbing trend that appears to be most dominant in the beauty industry and refers to the act of adding hemp oil that does not contain CBD or only contains a minuscule, non-therapeutic amount to a product in order to capitalize on CBD’s popularity and high price point. 

Psychedelic Clinic Company Field Trip Raises $8.5 Million

 

Psychedelic clinic company Field Trip Psychedelics Inc. closed its oversubscribed Series A financing round. The financing, which was completed through a private placement, raised $8.5 million for the company.

The company said the funds will be used to execute the initial stages of Field Trip’s strategic plan to build out the world’s first network of medical centers focused exclusively on psychedelic-enhanced psychotherapy. In addition to that, the financing will help fund the final construction of its research and cultivation facility at the University of the West Indies in Jamaica. 

South Carolina Kicks Off Hemp Farming Season

 

The South Carolina Department of Agriculture (SCDA) said that it will begin accepting applications for hemp farming, handling and processing permits for the 2020 growing season starting Feb. 1, 2020. Now in its third year, South Carolina’s hemp farming program has grown from 20 farmers in 2018 to 114 permitted farmers and 43 processors at the end of the 2019 season. 

Requirements to receive a hemp farming permit include:

  • Proof of South Carolina residency
  • Criminal background check
  • $100 nonrefundable application fee and $1,000 permit fee
  • GPS coordinates of all locations on which hemp will be grown
  • Attending an SCDA orientation and signing a Hemp Farming Agreement prior to possessing any hemp, including clones and seeds

In Other News

Aurora Cannabis Appoints Two New Independent Directors

 

Lance Friedmann and Michael Detlefsen have been appointed as two new directors for the Canadian cannabis company, Aurora Cannabis. The two have held roles with Kraft Foods and Pomegranate Capital Advisors, respectively. 

Aurora Cannabis Executive Chairman and Interim CEO Michael Singer stated, “We are pleased to welcome Lance Friedmann and Michael Detlefsen as independent members to the board at this critical time in our transformation. We expect to see cannabinoids grow as a category in consumer products and believe their depth of experience and strong track records of successful brand development and operational business transformation will provide helpful insights to our executive team. With the addition of Messrs. Friedmann and Detlefsen, Aurora has expanded its Board, independent directors.”

KushCo Holdings Announces $16 Million Registered Direct Offering

 

KushCo Holdings has announced its entrance to a definitive agreement with investors purchasing stock in the company. The agreement includes 10,000,000 units, with each unit representing one share of common stock. The transaction was set for $0.001 per share, and a warrant to purchase half a share of common stock, at an offering price of $1.60 per unit, pursuant to a registered direct offering.


William SumnerWilliam SumnerApril 29, 2019
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6min7170

It’s time for your Daily Hit of cannabis financial news for April 29, 2019

On The Site

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) reported that its 2018 total revenue was $3.3 million versus zero in 2017. The pro-forma combined Aleafia Health and Emblem revenues in 2018 were $11.3 million an increase of 327% over a combined Aleafia Health and Emblem 2017 revenues of $2.7 million. Still, the company delivered a net loss from operations in 2018 of $9.7 million.

Canopy Growth

Canopy Growth Corporation  (TSX: WEED) (NYSE: CGC) announced a key milestone in establishing its Hemp Industrial Park in the Southern Tier region of New York State. It has secured a 308,000 sq. ft. facility on a 48-acre property in Kirkwood, NY. The company said that design development would begin immediately with construction expected to start this summer.

Origin House

Canada-based Origin House (once known as CannaRoyalty Corp.) (CSE: OH) (OTCQX: ORHOF) reported its fourth quarter and year-end results ending in December 2018 in Canadian dollars. The fourth quarter saw revenues of $7.9 million an increase of 638% over last year’s $1.1 million for the same time period. The net loss for the quarter was $6.1 million.

In Other News

Charlotte’s Web Holdings

Charlotte’s Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF) has a new CEO. The company announced today that Adrienne “Deanie” Elsner would sign on as its Chief Executive Officer effective May 15, 2019.  Elsner previously served as President of Kellogg’s $3 billion Snack Business Unit. Before joining Kellogg, Elsner worked at the Kraft Foods Company and held various leadership positions, including Executive Vice President and Chief Marketing Officer. Elsner was also named by Forbes as one of the 50 Most Influential Global CMOs. “Deanie’s appointment is timely and aligns perfectly with our corporate evolution from the early stage organization we were just two years ago into a professionally managed public company with top-tier executive talent,” said Hess Moallem, current President and CEO of Charlotte’s Web. Moallem will stay on with the company in an advisory position.

New Leaf Data Services

New Leaf Data Services (NLDS), and the Cannabis Mercantile Exchange (Cannamerx) have signed a data-sharing agreement, upon which Cannamerx will provide NLDS with real-time data generated by its international cannabis and hemp trading platform. NLDS will incorporate the platform into its Cannabis Benchmarks® and Hemp Benchmarks® wholesale price assessments. NLDS will help Cannamerx market its international wholesale cannabis & hemp products auction platform, which includes informing its business partners and subscribers about the benefits of using Cannamerx platform. “We are pleased to have entered into this agreement with Cannamerx, which will expand and deepen the wholesale pricing data that is the foundation for our institutional grade Cannabis Benchmarks and Hemp Benchmarks,” commented NLDS CEO Jonathan Rubin.

Cannara Biotech

Cannara Biotech (CSE: LOVE) (FRA: 8CB) has announced its financial results for the three month and six-month periods ended February 28, 2019. Cannara ‘s revenue for the three-month period was $518,438 and for the six-month period was $1,036,881. The net loss for the three month period was $4,011,926 or $0.01 loss per share. The net loss for the six-month period was $6,317,152 or $0.01 loss per share. The company also raised $37,375,268 via private placement in exchange for 207,640,375 common shares. “Financially, Cannara is very solid, with all costs associated with Phase one construction fully funded and most stabilized operating costs offset by lease revenue,” said Lennie Ryer, CFO of Cannara. “Built for the long run, the next few quarters will be eventful as we complete construction and advance towards the goal of ongoing revenues from our state-of-the-art production and processing facility.


StaffStaffMarch 8, 2019
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In honor of International Women’s Day, we decided to put together a list of the women in the industry that have collectively moved the industry forward with all of their hard work. As we could not name them all, we would like to thank and celebrate all of the women who have dedicated their precious time to the advancement of cannabis globally. It is because of each one of these ladies that this industry remains in the lead above all others as far as female leadership is concerned.

This list is in no special order. Each one of these women provide a great contribution to the cannabis industry in their own unique and badass way:

The “List”:

  1. Mara Gordon
  2. Kristin Nevedal
  3. Ophelia Chong
  4. Jamie Cooper
  5. Tiffany Bowden
  6. Elise McDonough
  7. Rosie Mattio
  8. Kristin Jordan
  9. Nancy Birnbaum
  10. Ellie Siegel
  11. SaraMitra Payan
  12. Yvonne DeLaRosa Green
  13. Leslie La Duke Banionis
  14. Anh Solis
  15. Jayn Green
  16. Terre Cutrone-lowe
  17. Mara Felsen
  18. Melodye Montgomery
  19. Emily Paxhia
  20. Tracey Mason
  21. Tahira Rehmatullah
  22. Leslie Stern
  23. Karyn Wagner
  24. Jessica Versteeg
  25. Amy Fisher
  26. Kristin Heidelbach-Teramoto
  27. Eve Lentz
  28. Alison Draisin
  29. Pamela Squatch
  30. Amanda Ostrowitz
  31. Pamela Epstein
  32. Frannie Shulman
  33. Jennifer Price
  34. Larisa Bolivar
  35. Anne Kelson
  36. Karson Humiston
  37. Beth Stavola
  38. Bonita Money
  39. Jackee Stang
  40. Jamie Pearson
  41. Jessica Billingsley
  42. Jeannette Horton
  43. Kyra Reed
  44. Heather Sobel
  45. Alice Moon
  46. Nicole Pietrangelo
  47. Nancy Biderman
  48. Sheena Shiravi
  49. Shawna Mcgregor
  50. Gretchen Gailey
  51. Olivia Mannix
  52. Andrea Burnett
  53. Adelia Lorena Carrillo
  54. Jennifer Chan
  55. Sarah Harf
  56. Karen Paull
  57. Cyo Nystrom
  58. Gaynell Rogers
  59. Lori Ferrara
  60. Lindy Snider
  61. Karen Paull
  62. Wendy Robbins
  63. Mariah Dodson
  64. Vanessa Macias
  65. Kathleen Thibault
  66. Kerri Accardi
  67. Heidi Haller Groshelle
  68. Michelle Ross
  69. Kelley Usborne Bruce
  70. Tamara Lovemelots Anderson
  71. Christie Lunsford
  72. Cait Curley
  73. Emalee Hyde
  74. Erin Lumley
  75. Luna Stower
  76. Amber E. Senter
  77. Anna Valent
  78. Jennifer Skog
  79. Dr. Lakisha Jenkins
  80. Gia Moron
  81. Dr. Chanda Macias
  82. Rosa Cazares
  83. Shaleen Title
  84. Vivien Azer
  85. AC Braddock
  86. Dr. Suzanne Sisley
  87. Lori Glauser
  88. Jennifer Sanders
  89. Whitney Beatty
  90. Devon Soloniewicz
  91. Elisabeth Stahura
  92. Bethany Gomez
  93. Julia Jacobson
  94. Anne Fleshman
  95. Stormy Simon
  96. Anne Fleshman
  97. Rosie Rothrock
  98. Natalie Shaul
  99. Kimberly Dillon
  100. Jaene Leonard
  101. Ashley Kingsley
  102. Erica Daniels
  103. Erin Gore
  104. Kyra Hoffner
  105. Molly Peckler
  106. Amanda Reiman
  107. Taylor Blake-Massive
  108. Debby Goldsberry
  109. Parisa Rad
  110. Julie Weed
  111. Anne Donohoe
  112. Talia Rubin
  113. Eliza Nova Maroney
  114. Ashley Manta
  115. Lorna Donohoe

Thank you to all of the women who do so much in our industry day in and day out. Your work does not go unnoticed and is deeply appreciated.

Happy International Women’s Day to all women around the world!

Special shout out to our Green Market Report founders Debra Borchardt and Cynthia Salarizadeh on this day!



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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