The Daily Hit: June 11, 2018

It’s time for your Daily Hit of cannabis financial news for June 11, 2018.

On The Site:


Toronto-based 48North is set to begin trading on Monday on the TSX Venture Exchange with the ticker NRTH. Led by Chief Executive Officer Alison Gordon, this cannabis company is a vertically-integrated house of brands focused on women’s health and wellness.

So far the company has raised $27M between 2014-2016 via non-brokered private placements. $16M was raised in January 2018 via bought deal private placement of units. It is going public transaction by way of three-cornered amalgamation with Kramer Capital Corp., a capital pool company listed on the TSX Venture Exchange.


Canadian medical marijuana company Tilray has busted the bro culture in cannabis by naming three accomplished women to the board of directors, making it one of the few woman-led boards in cannabis.

Tilray Inc. announced the appointment of Rebekah Dopp, a Principal in Global Partnerships at Google; Maryscott “Scotty” Greenwood, CEO of the Canadian American Business Council and a Principal at Dentons; and Christine St.Clare, founder of St.Clare Advisors and formerly a Partner at KPMG, to the company’s Board of Directors. Tilray is owned by private equity company Privateer Holdings.

Aurora Cannabis

Aurora Cannabis Inc. (ACBFF)  announced that it signed a cannabis flower and trim supply agreement with Agrima Botanicals Corp. a wholly-owned subsidiary of Ascent Industries Corp. Agrima is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”).

According to a company statement, Agrima will supply Aurora with up to 20,000 kg of dried cannabis flower and up to 6,000 kg of cannabis trim per year from its Canadian cultivation facilities. The deal can last up to five years and is subject to a 12,000 kg per year minimum. Currently, Cannabis Benchmarks lists the spot price of wholesale cannabis at $1,237 per pound. At 2.2 pounds per kilogram, this gives the deal an approximate potential value of $54 million.

In Other News


PRØHBTD, the leading cannabis lifestyle media, and brand platform has raised $12 million in funding, $8 million of which was recently secured from a Series A round of investment. In addition to being a lead investor, the Delavaco Group acted as the sole strategic advisor to PRØHBTD. This financing represents the single largest round of funding for a media-related company in the cannabis industry to date and follows an initial $4M of seed funding.

The funding will be used to accelerate the continued production and distribution of PRØHBTD’s slate of original content, make new key hires and deepen the expertise and capabilities across the company through strategic acquisitions, as it continues to help cannabis companies build their businesses and reach global audiences. PRØHBTD will soon announce its plans for a Canadian public offering that will provide investors with an opportunity to participate in the future growth of the cannabis industry’s leading modern media company.

The Green Organic Dutchman

The Green Organic Dutchman Holdings Ltd (TGODF) announced that its wholly-owned subsidiary, Medican Organic Inc. has received its Cultivation License from Health Canada for the company’s breeding facility in Salaberry-de-Valleyfield, Quebec. The commissioning of this facility will allow the Company to create proprietary, organically grown strains of cannabis and cannabis seeds.

Located on a 72-acre property, the breeding building will house the cultivation of cannabis and the production of seeds and new strains. This building marks TGOD’s first facility in Valleyfield, which will be followed by the addition of TGOD’s flagship 820,000 square foot state-of-the-art hybrid grow facility, which, when complete, will bring TGOD’s domestic production to 116,000 kgs of high-quality, premium organic cannabis annually.

Isodiol International

Isodiol International Inc.  (ISOLF) announced unaudited May 2018 consolidated revenue numbers of $3,316,646 CDN. Marcos Agramont, CEO of Isodiol, stated, “May was a historic month for revenues. These numbers legitimize what we have accomplished over the last several months, particularly with the acquisitions of KURE Corp and BSPG Laboratories, Ltd. Shareholders can expect audited financials for the period of April 1, 2017 – March 31, 2018, to be available on July 30th, 2018.”

Rising Biosciences, Inc.

Rising Biosciences, Inc. (RBII) announced that it is currently working with producers and processors in California, Arizona and Ohio to produce its products under licensing agreements with a target for the end of September 2018 for the Company’s first products to hit dispensary shelves.

Rising Biosciences is also pleased to announce that FINRA has approved its name and ticker change and the Company is currently recognized by OTC Markets and otherwise as Rising Biosciences, Inc. under ticker RBII. As well, the Board has voted to move forward with steps to file a registration with the SEC to become a fully reporting company. We are currently identifying legal counsel and auditing firm toward QB while growing operations to meet listing qualifications for one of the major exchanges.


Sugarmade (SGMD) has now filed its results for the quarter ending September 30, 2018, and is in process of finalizing reports for the quarters ending December 31, 2017, and March 30, 2018. The company said that much of the delay in reporting was caused by personnel augmentations relating to the significant expansion of revenues and operations that are occurring. Sugarmade expects to return the company to fully reporting status over the short term and sees no major issues moving forward relative to timely financial reporting.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.

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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


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