It’s time for your Daily Hit of cannabis financial news for February 8th, 2021.
On the Site
Are High-CBD Hemp Flowers The Next Big Thing in Cannabis?
This article explains what CBD hemp flowers are, and their legality. It also dives into the benefits of CBD hemp flower, and concludes that it’s here to stay in the cannabis scene.
Global Hemp Acquires Water Rights With Plans for Hemp Building Materials
Global Hemp Group Inc. ( OTC:GBHPF ) signed a Definitive Agreement with Prescient Strategies Group LLC to acquire all of its Western Sierra Resource Corporation (OTC: WSRC) Preferred A Class Share holdings in a private, third party transaction. The deal is expected to close on or about February 9, 2021 upon fulfillment of certain conditions including:
– WSRC restructuring certain unsecured debt prior to the issuance of the GHG Prefs;
– GHG providing the necessary initial payments to complete the transaction and other Debt Restructuring (completed).
In Other News
MJBiz Daily Reports Concentrate Sales Up 40%
The cannabis news outlet reported cannabis concentrate sales were up 40% in 2020, far outpacing previous numbers. Sales hit $567 million in 2019, and reached $797 million in 2020. The data was first released by Headset, a cannabis data analytics firm based in Seattle.