The Daily Hit: October 1, 2018

It’s time for your Daily Hit for cannabis financial news for October 1, 2018:

On the Site

Dixie Brands

One of the earliest cannabis companies Dixie Brands is joining its peers in the rush to become a publicly traded company. Dixie will complete a reverse takeover (RTO) of a Canadian public company, Academy Explorations Limited and will be subsequently renamed Dixie Brands (USA) Inc. Both of the companies have gotten board and shareholder approval for the RTO and the shares will be listed on the Canadian Securities Exchange.

Vaping Business as Your Key to Wealth

Vaping is one of the fastest developing industries in the world. It’s a good tactic for you as an entrepreneur to focus your efforts where the profit may be more lavish. The global vaporizer market is expected to be worth $61.4 billion in 2025, growing at a rate of 20% by then.But since the opportunities for business ventures are promising, more and more manufacturers, retailers, and other groups spring up to service it. Be ready to face stiff competition. To become a successful businessman, you must have a plan and a vision. And you must know where exactly you want to go. Here’re 5 helpful tips…

Hollyweed North Cannabis

HollyWeed North Cannabis Inc. signed a letter of intent on September 10, 2018, to acquire Women Grow, LLC for an undisclosed amount.  Women Grow was founded in 2014 in Denver, CO and provides connections, education, and empowerment for aspiring and current cannabis entrepreneurs and business executives.

In Other News

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TGOD) announced that it has entered into an agreement with a syndicate of underwriters, led by Canaccord Genuity Corp. Under the agreement, the underwriters will purchase, on a bought deal basis, 10.95 million units of the company at a price of C$6.85 per unit, for a total of $75,007,500. The company has also granted the underwriters an over-allotment option to purchase 1,642,500 units at a price of C$6.85, for a period of up to 30 days after the closing date of the offering. The offering is expected to close on October 17, 2018.

GW Pharmaceuticals plc

GW Pharmaceuticals (GWPH) announced that it plans on selling $300 million worth of American Depositary Shares (ADSs), which represent regular GW shares on the NASDAQ, in a U.S. public offering. GW will also offer an over-allotment option to underwriters to purchase an additional $45 million of ADSs. Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, J.P. Morgan and Cowen and Company, LLC. will be acting as the joint book-running managers for the offering. A price for the offering has not been set, and as of yet, there is no indication as to when the offering may be complete.

Nabis

Nabis, a Type 11 cannabis distributor in the state of California, announced that it had raised a $1.25 million seed round from investors such as Babel Ventures, CannaAngels, Jeremy Gardner, Scott Robinson, and Y Combinator alumni. With a growing supply chain, Nabis provides distribution services to approximately two-thirds of all licensed cannabis dispensaries in California.

 

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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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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