It’s time for your Daily Hit of cannabis financial news for July 21, 2021.
On The Site
July 10 or Dab Day is turning into a dud day. It’s also called “oil” day and the idea is that 710 upside down spells oil. It’s supposed to be a day that celebrates vaping and consuming oil or concentrate cannabis products. No one is sure where or how the holiday got started or how it went from Oil Day to Dab Day. Still, dispensaries and brands have been game to throw a Dab Day party, but the consumers seem less than impressed. Headset provided Green Market Report with data from this year’s 710 sales and cannabis sales actually decreased. Concentrate sales did increase and were the only category to do so.
Cannabis software company Akerna (NASDAQ: KERN) has released its 2021 Mid Year report that highlights upcoming trends as well as recapping the first half of the year. These trends include interstate commerce, the importance of brands, and the quickly growing power of the female consumer. Scott Sozio who serves as Head of Corporate Development for Akerna wrote that while consolidation and access to capital have been important issues they are laying the groundwork for interstate commerce and the importance of brands.
Empower Clinics (OTC: EPWCF) is selling its legacy cannabis assets for $1 million and said it plans to fully focus on its integrated healthcare business. The non-binding agreement outlines that Andrea Klein and Dustin Klein are buying Sun Valley Health Holdings LLC, Sun Valley Health Franchising, LLC, Sun Valley Health, LLC, Sun Valley Health West, LLC, Sun Valley Health Tucson, LLC, Sun Valley Health Mesa, LLC, Sun Valley Alternative Health Centers NV, LLC, and all subsidiaries.
Gage Growth Corp. (CSE: GAGE) has added two more provisioning centers (dispensaries) to its portfolio, which will be located in Flint and Burton, Michigan. The company now has 15 provisioning center locations in its retail portfolio. “These latest additions to Gage’s retail and cultivation portfolios enable the Company to broaden and solidify its position in the Michigan market,” said Fabian Monaco, CEO of Gage. “We look forward to bringing our world-class cannabis experiences to new communities through our increased retail locations. Gage is committed to investing in the communities in which it operates, and we will approach Flint and Burton with the same high level of integrity, focus on diversity, and dedication to offering a variety of quality products to provide the best cannabis experiences to the region’s patients and consumers.”
In Other News
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced today the opening of a new Florida dispensary, the Company’s 96th nationwide. The new 3,200 sq. ft. dispensary, located in Winter Haven, supports Trulieve’s goal of ensuring medical cannabis patients across Florida have safe, reliable access to the medications they rely on. The dispensary expands access throughout Central Florida, joining nearby locations in Lakeland and Sebring.
Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) (“Emerald”) has introduced its new Fuse™ lifestyle brand and latest product line, the Nano Shot, a flavoured cannabis-infused beverage formulated with 10 mg of THC and a nanoemulsion formulation that assures consumers of a more predictable, rapid onset and shorter controlled duration of effects. Initial shipments of the beverage are available to consumers at licensed cannabis retailers and online in British Columbia and Manitoba, and are expected to be available in Alberta by month-end.