It’s time for your Daily Hit of cannabis financial news for February 14, 2019.
Happy Valentine’s Day everyone!
On The Site
TILT Holdings Inc. (CSE: TILT) (OTC: SVVTF) announced preliminary and unaudited pro forma January 2019 gross revenue of $18.3 million. The company’s pro forma January revenue was driven by continued growth of all companies within TILT, including recent acquisitions.
In just January 2019 TILT said its unaudited gross revenue was $13.8 million versus the $7.6 million for the entire year of 2018. Gross margins for January were 16% given the early stages of business integrations, and full-year 2018 gross margins were 21%.
In Other News
Flow Kana announced the completion of a $125 million round of financing – the nation’s largest private funding round for a private cannabis company to date. Gotham Green Partners, which led Flow Kana’s Series A raise in May 2018, invested in the round along with additional private investors to accelerate the company’s rapid growth. Flow Kana has raised a total of $175 million to date to build and scale the California cannabis supply chain centered around small, decentralized, sustainably operated cannabis farms.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF), a vertically integrated cannabis company with one of the largest footprints in the U.S., announced a definitive agreement to acquire Falcon International Corp., a California cannabis company and leader in cultivation, manufacturing, wholesale distribution and brand development, for a non-material undisclosed amount of stock.
MPX International Corporation (CSE:MPXI) intends to raise up to C$20 million (approximately US$15 million) in a non-brokered private placement offering of up to 41,666,666 units of the Company at a price of C$0.48 per Unit.
Flower One Holdings Inc. (CSE: FONE) (OTCQB: FLOOF) announced a new long-term licensing agreement and brand partnership with CannAmerica Brands Corp. (OTCQB: CNNXF) for cannabis-product fulfillment in Nevada. CannAmerica Brands is a Colorado-based, marine-veteran-founded cannabis brand known for its line of top-tier cannabis gummies and edibles currently available in three states. Flower One is now licensed to manufacture, distribute and sell CannAmerica Brands’ signature cannabis Fruit Juice Gummies and Super Soft Gummies to all cannabis retailers in Nevada. This agreement represents Flower One’s official launch into the edibles market.
Liberty Health Sciences Inc. (OTCQX: LHSIF) announced that on February 19th the Company will open its first dispensary in Broward County, in the city of Dania Beach.