The Daily Hit: April 18, 2019

It’s time for your Daily Hit of cannabis financial news for April 18, 2019.

On The Site

Acreage Holdings

Acreage Holdings, Inc. (CSE: ACRG.U) (OTC: ACRGF) (FSE: 0ZV) announced that on April 17, its subsidiary, High Street Capital Partners agreed to acquire Nevada-based Deep Roots Medical in a deal valued at $120 million. The cash and stock transaction will mark Acreage’s entry into the Nevada market. This deal plants another flag in Acreage’s growing empire bringing the footprint up to 20 (including pending acquisitions) making it the largest company in the US cannabis industry.

Canopy Growth

Canopy Growth Corporation  (TSX: WEED) (NYSE: CGC) is acquiring Acreage Holdings, Inc. (CSE: ACGR.U) (OTC: ACRGF) in a deal valued at $3.4 billion. However, the deal will not be consummated until cannabis is federally legal in the U.S. and assuming the shareholders approve as well as the  Supreme Court of British Columbia.

Greenlane Holdings

The NASDAQ Markets Group (NDAQ) has been notoriously reluctant to list any cannabis related companies, even if they are only ancillary and not plant-touching. It seems vape distributor Greenlane Holdings Inc. has broken through the company’s barriers. Greenlane will begin trading on NASDAQ today with the ticker GNLN after upsizing its initial public offering of six million shares with the offering price of $17. The company had expected to price the shares between $14-$16.

In Other News

Aphria

Aphria Inc. (NYSE: APHA) announced the pricing of US$300 million aggregate principal amount of 5.25% convertible senior notes due in a private placement to qualified institutional buyers. Initial purchasers of the note will have the option to purchase an additional $50 million of notes. The sale of the notes to initial purchasers is expected to close on April 23, 2019. The company intends to use the proceeds of the offering for general corporate purposes, expansion initiatives, and future acquisitions.

Aurora Cannabis

Aurora Cannabis Inc. (NYSE: ACB) announced that the company’s contract with the German Federal Institute for Drugs and Medical Devices has been approved. Now that the contract has been approved, Aurora will start construction on an indoor cannabis production facility in Leuna, Germany in May of this year. The facility is expected to be completed within a year of breaking ground, and Aurora believes that the facility’s first harvest will be completed by October 2020. At minimum, the facility should produce approximately 4,000 kilograms of cannabis over a four-year period.

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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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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