The Daily Hit: June 19 2018

It’s time for your Daily Hit of cannabis financial news for June 19, 2018.

On The Site

MedReleaf Corp.

Canadian cannabis company MedReleaf reported that its sales increased 8% to C$43.6 million for the fiscal year 2018, still the company reported a net loss of C$7.5 million. The fiscal fourth-quarter sales rose 16% to C$12 million and a net loss of C$812,000. The company attributed the losses to increased overhead costs and investments in recreational brands, international business initiatives, and increased research and development efforts.

High Times Media

Long-time cannabis media company High Times is launching an equity crowdfunding program under the SEC’s Reg. A+ process. The company had made plans in 2017 to go public following a merger with Origo Acquisition company, but so far the deal hasn’t closed.  With the crowdfunding campaign, High Times will offer investors a chance to buy shares before the delayed initial public offering.

The Reg. A+ stock is to be priced at $11 a share and the company is saying that this will be a 10% discount to its planned price on NASDAQ.  The shares are available for purchase at For some reason, the company statement says that “Investors can buy one of the first Cannabis-related stocks expected to go public.” Yet, there are already hundreds of cannabis-related stocks that are publicly traded.

In Other News

Innovative Industrial Properties

Innovative Industrial Properties (IIPR) filed a prospectus for a $300M mixed securities shelf offering. The company intends to use the net proceeds from the sale of these securities to invest in specialized industrial real estate assets that support the regulated medical-use cannabis cultivation and processing industry that are consistent with our investment strategy, and for general corporate purposes.

Newstrike Resources Ltd.

Newstrike Resources Ltd. (TSXV:HIP) announced that it closed its previously announced short form prospectus offering on a bought deal basis, including the full exercise of the over-allotment option. A total of 69,000,000 units were sold at a price of $0.75 per unit, for aggregate gross proceeds to the Company of $51,750,000. Each unit is comprised of one common share of the company and one-half of one common share purchase warrant.


Cannabiniers announced the expansion of its alternative beverage portfolio with the world’s first line of CannaCrafted non-alcoholic THC and CBD infused craft beer, Two Roots Brewing Co, and a line of THC and CBD infused cold brewed iced coffees and teas, Just Society. Both lines are expected to hit shelves in July, making it the first to be available to consumers. This announcement coincides with Cannabiniers Series B capital raise of their multistate rollout of both Just Society and Two Roots covering a twelve-state product release.

MainStem, Inc.

Cannabis e-commerce company MainStem, Inc. has launched an integrated marketplace with BioTrackTHC, a seed-to-sale software in the legal cannabis industry. BioTrackTHC has rolled out the integration to customers in Colorado, Washington, California, Puerto Rico, and Montana with additional states to be rolled out systematically over the next several weeks. Customers can now enjoy the benefit of purchasing all their packaging, retail accessories, lighting, grow supplies and traceability equipment within their BioTrackTHC’s user-interface at competitive pricing.

Original Breeders League

Original Breeders League has signed a letter of intent with Segra International Corp. to explore a collaboration regarding plant micropropagation (also known as ‘tissue culture’). According to this letter of intent, OBL will negotiate a service contract with Segra for micropropagation services. Under the proposed service contract Segra would transition a set of existing cannabis cultivars from OBL’s proprietary genetic portfolio into tissue culture for genetic preservation and production via micropropagation. This portfolio includes valuable high CBD, full spectrum cultivars.

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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