Its time for your Daily Hit of cannabis financial news for February 18th, 2020.
On the Site
2020 Top 11 Most Effective Cannabis PR Firms
The cannabis industry is one of the most unique and restricted industries in general, but when it comes to advertising, marketing, and public relations, it stands alone in its capabilities and the landscape in which to operate. Green Market report compiled a list of the 11 most effective companies. The list is as follows: ICR Strategic Communications & Advisory, MATTIO Communications, CMW Media, KCSA Strategic Communications, Rosen Group, GVM Communications, 5W Public Relations, Grasslands Agency, Nison Co, Coppertop Media Relations, Lola Red.
Constellation Brands Executive Joins Napa Valley House of Saka
House of Saka, a Napa Valley-based company that makes an alcohol free infused beverage (it can’t be described as an infused wine) has hired Sue Bachorski as its Chief Operating and Financial Officer. Bachorski is a wine and spirits veteran who previously spent nearly three decades as a Senior Operations and Finance Executive at Constellation Brands, Inc. (NYSE: STZ).
At House of Saka, she will oversee operations, logistics, and finance for the company’s Saka Vinfusions as it continues to expand its portfolio of products as well as its national footprint.
Digipath Reports 26% Increase In Revenue
Cannabis testing and analytics firm Digipath, Inc. (OTCQB: DIGP) reported a 26% increase in revenue to $808,930 for the first quarter of 2020 ending December 31, 2019. This is compared to $642,115 in the first quarter of 2019, and gross profit of $403,449, which rose approximately 152% over the comparative quarter in 2019. The company was able to trim its first-quarter net loss to $220,427 versus $462,174 for the same time period in 2018, an improvement of $241,747, or 52%.
House of Hemp: Could Hemp Disrupt the Building Sector?
While hemp has been used as a building material in Europe for more than 30 years, it’s only beginning to gain ground in the U.S.
American entrepreneurs are turning hemp fibers into wood, concrete, and insulation. There are no limits on the scope of this growing green industry. Manufacturers intend to deliver materials to residential, commercial, and industrial builders.
In Other News
GL Brands to Begin Trading on the OTCQB Venture Market
The cannabis consumer packed goods company excitedly announced today that it will begin trading on the OTCQB Venture Market. CEO Carlos Frias comments: “Qualifying for the OTCQB is a benchmark event, pairing increased transparency with increased access to opportunities and partnerships in line with our vision for explosive growth in the rapidly expanding cannabis industry.”