The Daily Hit: February 1st, 2021

It’s time for your Daily Hit of cannabis financial news for February 1st, 2021. 

On the Site

THC vs. CBD: Differences and Benefits

The difference between THC and CBD is how they interact with the body, and the effects they produce. Both cannabinoids have great benefits and can be used for a variety of things. 


Sober January Leads to Boost in Cannabis Beverages

While many consumers put down the bottle this month for Sober January, some have picked up a cannabis-infused beverage instead causing sales to rise in this emerging category. “To our pleasant surprise, our January sales thus far have exceeded even our December sales. Trading high alcohol, high-calorie drinks with zero alcohol, low calorie Saka Vinfusions is Dry January’s best accompaniment,” said Tracey Mason, Co-founder and CEO of House of Saka


Executive Spotlight: Maria Testa

Maria Testa is the Co-Founder of Moose Labs, where she handles branding, social media and customer relations. It was Maria’s “aha” moment that led to the development of the MouthPeace product line. In a predominantly male-run industry, her female perspective of the market and its associated problems have been a driving force behind the growth of Moose Labs.


GrowGen Buys Maine-based Grow Depot

It seems a month doesn’t go by without  GrowGeneration Corp . (NASDAQ: GRWG ) making another acquisition. February is only just starting  and the hydroponic store chain has said it is buying Grow Depot, a two-store chain in Auburn and Augusta, Maine. The acquisition brings the total number of GrowGen hydroponic garden centers in Maine to five, with locations in Auburn, Augusta, Biddeford, Brewer, and York.


Slang Teams Up with Merida to Speed Up Expansions

SLANG Worldwide Inc.  (OTCQB: SLGWF) has teamed up with cannabis-focused private equity firm Merida Capital Holdings to speed up Slang’s expansion in both new and existing markets. In addition to the partnership, Slang said that Merida led a non-brokered private placement of up to C$10 million to fund further growth. The stock was rising over 6% to lately sell at 32 cents.

In Other News

Columbia Care Wins 5 Dispensary Licenses in West Virginia

Cannabis giant, Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP), has officially secured five dispensary licenses in West Virginia, establishing them as a completely vertically-integrated facility. Retail operations will be in Beckley, Fayetteville, Morgantown, St. Albans, and Williamstown.


Trulieve Secures 4 West Virginia Dispensary Permits

Trulieve (OTCQX: TCNNF), won four medical cannabis dispensary licenses in West Virginia. Locations will be in South Charleston in the greater Charleston area, Weston, Buckhannon, and Morgantown. 


cbdMD to Donate Up to $500,000 to Help Bars & Restaurants in the Pandemic 

Highly-respected CBD company, cbdMD, is giving back this year, in a huge way. The company is discounting their topicals by 25%, and then will match that discount with a cash donation up to $500,000. The donation will be made to The Barstool Fund, a fund set up by David Portnoy and Barstool Sports, and will go to all small businesses across the United States who have been impacted by the shutdowns of the COVID-19 pandemic. 

Kaitlin Domangue

Kaitlin is a cannabis reporter for the Green Market Report, covering every angle of the industry. She also works directly with cannabis brands as a content marketer.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up

About Us

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


Recent Tweets

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.