The Daily Hit: April 23, 2020

It’s time for your Daily Hit for cannabis financial news for April 23, 2020.

On The Site

Driven Deliveries

California-based cannabis retailer and direct-to-consumer delivery company Driven Deliveries Inc.  (OTCQB: DRVD) has reached its third consecutive sales record and noted that during its 420 sales campaigns it exceeded previously set sales record by another 31%.

“We are beyond grateful to have such strong partnerships with our suppliers and loyal relationships with our customers,” said Christian Schenk, CEO Driven Deliveries Inc.  “Our staff stepped up to the occasion and delivered the goods to our customers in record time while our supply chain team ensured availability of products across California to ensure the demand created by our marketing organization was fulfilled as committed,” he added.

Cresco Labs

Cresco Labs Inc.  (OTCQX:CRLBF) completed its agreement to sell the company’s Marshall, MI property to Innovative Industrial Properties, Inc. (NYSE: IIPR) in a deal valued at approximately $16 million. The previously announced sale included $11 million in funding for tenant improvements. The property represents approximately 115,000 square feet of industrial space in aggregate. The stock popped over 4% on the news to lately trade at $4.42.

Human Resources

The expansion of the cannabis industry is parallel with the increased public awareness of the marvelous benefits of cannabis for our health and wellbeing. New and current companies in the cannabis industry are constantly looking for new additions to their teams. There’s more to hiring people than reading a few resumes and choosing which one suits your company the most. Read our human resource tips and tricks that will help businesses in the cannabis industry find ideal additions to their teams.

In Other News

Jushi Holdings Inc.  (CSE: JUSH) (OTCQX: JUSHF) anticipates adding up to five additional cannabis dispensing facilities to its majority-owned subsidiary Dalitso LLC’s operations in Virginia. The addition of these five facilities will bring the Company’s total number of retail locations to six in Virginia. Following the Virginia General Assembly’s agreement with Governor Northam’s amendments on April 22nd, Senate Bill 976 will also remove the statutory five percent cap on the concentration of THC within a cannabis oil formulation.  Under Senate Bill 976, registered patients may now receive up to 10mg THC per dose.

Columbia Care, Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) has received approval from the Depository Trust Company (DTC) for its common shares listed on the OTCQX.

Pepper Foster, President, and Publisher of Easyriders, the rock-n-ride brand legend named with a nod to the eponymous cult film classic that recently celebrated its 50th Anniversary, has partnered with Sykes Mitchell, CEO of Big Top Farms, a world-class farming operation in Sisters, Oregon, and Bill Margaritis, President & CEO of Hemp2Lab a new leading-edge extraction lab in Rossville, Tennessee, to produce specially curated high-quality CBD hemp oil products.

Numerator, a data and tech company serving the market research space, has launched six new products and capabilities to help brands and retailers quickly understand COVID-19 market dynamics — including fast access to consumer buying behavior, fast understanding of COVID-19 advertising and promotions, and pre-configured people groups enabling more detailed analysis.

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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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