The Daily Hit: January 12, 2022

This is your Daily Hit of cannabis financial news for January 12, 2022.

On The Site

Leafly

Leafly Holdings Inc. and cannabis SPAC Merida Merger Corp. I (NASDAQ: MCMJ) (a special purpose acquisition company sponsored by Merida Capital Holdings) announced that it has entered into a $30 million convertible note purchase agreement with new investors led by Cohanzick Management LLC and affiliates, an investment management firm. This supplemental financing, which will close immediately prior to the closing of the proposed business combination between Leafly and Merida, will help to ensure full funding of Leafly’s current multi-year business plan. The stock was jumping almost 18% in pre-market reading to lately sell at $9.97.

Viola

Michigan-based Viola Brands announced the closing of a $13 million equity funding round. The company said this latest round of funding will allow it to expand into several key new markets, including Pennsylvania, Illinois, New Jersey, and Maryland, and continue executing on strategic marketing initiatives, further positioning Viola to be one of the top brands and operators in the rapidly growing cannabis industry. Viola also said it is considering raising additional capital aimed at increasing supply to meet market demand.

Audacious

Australis Capital Inc. (OTC: AUASF) also known as Audacious has entered into a definitive agreement with Golden Triangle Health (GTH) on a strategic partnership that marks the company’s first foray into the Asian market. GTH is a majority-owned subsidiary of Thai public company NRF instant PCL with a market capitalization of C$440 million. To start, Audacious will be sending CBD hemp seeds to Asia. The hemp seeds will be cultivated and used for food products as well as CBD isolate extraction. Ultimately, the partners said they plan to supply major CPG companies with B2B white label and branded products.

In Other News

Halo

Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) announced that it is strategically expanding into the functional beverage market with a proposed stock-based acquisition of a private company operating as H2C Beverages and the entering into of a distribution and manufacturing agreement with Elegance Brands Inc. Pursuant to the terms of the Distribution Agreement, Elegance has agreed to purchase $30 million of Halo’s H2C and Hushrooms branded products during the 24-month period following the launch of the products and to distribute these products to retail outlets in respective legal states across the United States. The H2C Acquisition is expected to provide Halo with a toehold in one of the fastest-growing sectors of the cannabidiol market, estimated to account for $16 billion in U.S. sales by 2025, according to Brightfield Research1, as well as to directly participate in rising consumer consciousness toward the health benefits of consuming small doses of cannabinoids and functional mushroom extracts paired with adaptogens. H2C’s product portfolio includes a line of premium flavored waters that are nano emulsified to maximize absorption and other plant-based beverages infused with cannabinoids, functional mushroom extracts with fulvic and humic minerals from the Rocky Mountains.

Leave a Reply

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

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.


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


READ MORE



Recent Tweets

@GreenMarketRpt – 2 days

We are stoked to open up nominations for the 1st ever GMR Cannabis Tech Awards. They will be announced at the GMR T…

@GreenMarketRpt – 2 days

Flower One’s Revenue Drops In Fourth Quarter, Restructures Debt Payments

@GreenMarketRpt – 2 days

SPACS Losing Their Mojo As Deals Get Pushed Out

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.