The Daily Hit: November 19th, 2020

It’s time for your Daily Hit of cannabis financial news for November 19th, 2020. 

On the Site 

Slang Reports Revenue Rose 73% In Third Quarter

Slang Worldwide Inc. (OTCQB: SLGWF) reported preliminary, unaudited financial results for the third quarter ending September 30, 2020. with revenue rising 73% to $7.9 million.

TerrAscend Delivers Rising revenue, Increases Guidance

TerrAscend Corp.  (OTCQX: TRSSF) reported financial results for its third quarter ending September 30, 2020, with net sales of $50.9 million versus $47 million in the second quarter. It was almost double last year’s $26.8 in sales for the same time period in 2019. The company delivered a net loss of $17.5 million, which was slightly higher than last year’s third-quarter net loss of $17.3 million.

Tilt Sells Tech Platform Blackbird, Puts Focus On Jupiter

Tilt Holdings Inc. (CSE: TILT) (OTCQB: TLLTF) reported a decline in revenue to $40.4 million for the second quarter of 2020, which was a drop of 12% from the prior-year period.  The net loss was $4.6 million versus a net loss of $9 million in the previous quarter. The company also told investors that it sold its technology platform Blackbird.

Tripping Goes High-Tech, Field Trip Partners with WHOOP

The two companies announced that they will be using WHOOP’s Strap 3.0 to measure the biometric effects of ketamine-assisted therapies produced by Field Trip.

In Other News

C21 Announces Note Restructuring 

Vertically-integrated cannabis company, C21 (CSE:CXXI) (OTCQX: CXXIF) announced today that the remaining principal amount of the company’s senior secured note ($15.2 million), held by the company’s CEO Sonny Newman, has been restructured for repayment over a 30-month term. The loan will have an interest rate of 9.5% with lower monthly principal payments. In addition, C21 has secured a commitment from three major investment managers: Wasatch Global Investors, JW Asset Management, and CB1 Capital Management. 

Kaitlin Domangue

Kaitlin is a cannabis reporter for the Green Market Report, covering every angle of the industry. She also works directly with cannabis brands as a content marketer.

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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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