Here is your Daily Hit of cannabis news for April 27, 2018:
On The Site
Emblem Corp. (EMMBF) reported its fiscal 2017 results for the fiscal 2017 year with C$2.69 million in revenues versus C$277,000 in 2016 an increase of 873%. The company reported gross profits of C$490,000 versus a loss of C$260,000 in 2016. Emblem expects to generate a steady increase in gross profit during 2018 as it now has a total of five grow rooms completed and received a license in late 2017 for the sale of cannabis oil.
Still, the company delivered a loss per share of 14 cents, but this was an improvement over 2016’s loss per share of 44 cents. The net loss for 2017 was C$12.1 million, but this was lower than 2016’s net loss of C$17.3 million.
Cannabis Advertising Could Be Stricter Than Alcohol According To The NACB
In an effort to stay ahead of regulators and encourage ethical advertising practices in the industry, the National Association of Cannabis Businesses (NACB), the only self-regulatory organization for the U.S. licensed cannabis businesses, published advertising guidelines for industry players. The NACB Advertising National Standard was published Wednesday, April 25, 2018; the organization is accepting comments from members and the public until May 25, 2018. Comments will be reviewed and considered, and it’s possible that the standard will change as a result of public comment.
In Other News:
The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. announced that its common shares as well as the common share purchase warrants it issued pursuant to a warrant indenture dated November 1, 2017”) will begin trading under the trading symbol “TGOD” and “TGOD.WT”, respectively, on the Toronto Stock Exchange at market open on May 2, 2018.
The TSX previously provided approval to list the common shares and the November Warrants on the TSX. Detailed information about the listing is available in the Company’s amended and restated final long form prospectus dated April 20, 2018, which is available under TGOD’s profile on SEDAR (www.sedar.com).
The Cannabist Team Laid Off
Embattled Colorado newspaper The Denver Post is no longer staffing its groundbreaking, first-of-its-kind marijuana news vertical The Cannabist, newsroom leadership confirmed Friday—a decision that is surprising cannabis and journalism circles today.
The Cannabist was founded in 2013 by veteran journalist Ricardo Baca as the world’s first adult-use cannabis market was about to launch in Colorado. As The Post’sfirst-ever Marijuana Editor, Mr. Baca and his team created the site from scratch and developed a robust national readership that appreciated the unique vertical’s journalism-first approach to covering the newly legal industry, the policy surrounding it and the culture that grew from legalization.
Marcum Joins Green Rush
Marcum LLP, a top national NYC accounting and advisory firm, recently established its Cannabis Services Group. Cannabis companies need support, objectivity, and expertise, and Marcum is helping them establish their footing and support those who want to enter and succeed within this emerging sector.
Marcum is one of the first national accounting firms to venture into the cannabis industry (none of the Big 4 accounting firms have taken on cannabis clients) and they are already involved in deals, capital raises, and are helping a host of businesses such as dispensaries, growers, vape retailers, etc. on key issues. To date, much of Marcum’s efforts have been on the capital markets side – serving as an auditor and advisor to companies entering (or considering entering) the public markets, raising private capital, and helping clients advance their business plans.