It’s time for your Daily Hit of cannabis financial news for January 23, 2019.
On The Site
Eaze just released its 2018 State of Cannabis report giving insight into the buying habits of cannabis consumers. Eaze is a Calfornia-based cannabis delivery software company with buying history from 450,000 cannabis shoppers who have used Eaze for its delivery software service along with 4,000 survey respondents.
Some of the key findings included the breakout year for CBD (cannabidiol) products and the increase in the number of women who have become cannabis consumers. The report called CBD the “darling” of 2018 after learning that CBD consumers nearly doubled in 2018 from 2.6% to 4.8%.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) entered into a credit agreement with Canadian Imperial Bank of Commerce and the Bank of Montreal for a $65 million secured non-revolving term loan credit facility. The Canadian-based cannabis company said it plans to use the funds to repay the Company’s existing loan facility with Romspen Investment Corporation and for general corporate purposes pending the closing of the previously announced equity investment by Altria Group, Inc.
Their future dream is a hothouse scheme, and after months of teasing its Canopy in the UK, finally. The Canadian medicinal marijuana luminary on Monday announced the creation of Spectrum Biomedical UK, a dedicated British firm targeting the underserved and uneducated but highly lucrative UK market, alongside a new Polish entity as part of a massive European campaign.
In Other News
Doyen Elements International, Inc., announced its rebranding and renaming itself to Covalent Collective, Inc. . In addition, the Company announced Bill Gregorak as Chief Executive Officer, effective immediately. Prior to being named CEO, Mr. Gregorak served as Chief Financial Officer of Covalent Collective since February 2018. Mr. Gregorak takes over as CEO from Geoffrey Thompson, a co-founder of Covalent Collective, who will continue as leader of merger and acquisitions.
In his role, Mr. Gregorak will direct all business units and strategy for Covalent Collective. Mr. Gregorak will also oversee the execution of the Company’s rebranding and acquisition strategy of plant-touching enterprises that grow, process and sell cannabis products.
Bella CBD-infused bath, body and skincare has released the first-ever silicone personal lubricant enhanced with the soothing and healing properties of CBD. Developed by cannabis industry thought leader Krista Whitley, Bella’s Olio d’Amore makes it easy to experience indulgent intimacy with premium CBD, encouraging optimal sexual wellness and intimate pleasure.