It’s time for your Daily Hit of cannabis financial news for June 3, 2020.
On the Site
The Cannabis Beverages of Summer
mood33, House of Saka, and Cann Social Tonics are three brands offering cannabis infused beverages this summer. mood33 is hemp-derived while House of Saka and Cann Social have THC, too.
Executive Spotlight: Tyler Robson
Green Market Report caught up with Tyler Robson, CEO of The Valens Company. Their mission “is to become the world’s most trusted partner for best-in-class cannabis extraction, testing, formulation, product development, and custom manufacturing.”
Canopy Rivers Revenue Is Flat, While Net Losses Grow
Cannabis venture capital firm Canopy Rivers Inc. (OTC: CNPOF) reported its fourth quarter and fiscal year results for the period ending March 31, 2020. Revenue was flat at $2.5 million for the quarter in 2020, while the net losses ballooned to $30 million from 2019’s net income of $3.5 million.
In Other News
World-Class extractions have been approved by the Depository Trust Company to make its common shares eligible for electronic clearing and settlement through DTC’s automated processes.
“Obtaining DTC eligibility demonstrates World-Class’ commitment to increasing visibility and accessibility for our shareholders,” stated Rosy Mondin, CEO of World-Class. “We expect that access to DTC’s platform will enhance liquidity, increase trading volume, presenting World-Class to an even broader range of investors in the United States.”
Driven Deliveries Completes Brand to Consumer Program
Online cannabis retailer, Driven Deliveries, has welcomed 12 cannabis brands to its Direct to Consumer brand, Brand Budee.
The Company’s online retail divisions, Ganjarunner and Budee, provide California cannabis consumers with access to hundreds of licensed products through their online ecommerce platform.