The Daily Hit: October 1, 2019

It’s time for your Daily Hit of cannabis financial news for October 1, 2019.

On The Site

Fire & Flower

Fire & Flower Holdings Corp. (TSX: FAF) its financial results for the second fiscal quarter ending August 3, 2019, with total revenue of $11.1 million versus $9.5 million for the same time period in 2018. The net loss for the quarter was $6.4 million versus last year’s net loss of $4.2 million for the same quarter. The net loss per share remained flat at ($0.06).

Fire & Flower‘s financial and operational results for the quarter demonstrate that the company is continuing to build the infrastructure required to support the rapid growth of our retail network and deliver on our objectives,” shared Trevor Fencott, Fire & Flower’s, Chief Executive Officer. “Our strategic partnership with Alimentation Couche-Tard is transformative for the Company and the Hifyre digital retail platform continues to showcase Fire & Flower as a leading data-driven, ‘retail 2.0’ company.”

New Video from the Green Market Summit

Some customers want the best bang for the buck, while others only want the best. This panel from the Green Market Summit on September 11 in Los Angeles demonstrates what defines a luxury brand and how a company can back up the premium description on the label. Moderating this panel is Alyssa Jank of the Brightfield Group. The panelists include Tracey Mason, CEO House of Saka, Eric Eslao, CEO Défoncé, Yvonne De La Rosa, Founder 99 High Tide, and Estella Perez of the Garden Society.

In Other News

Grown Rogue International Inc. (CSE:GRIN | OTC: GRUSF) has released its financial and operating results for its fiscal third quarter ended July 31, 2019. Third quarter 2019 revenue was $0.8 million, a 14% increase over the comparable quarter from 2018. Adjusted Gross Profit was $0.2 million for the third quarter (31%) and $1.0 million for the year-to-date (29%). The quarterly margin rate represents a 12% improvement over the prior quarter (Q2 2019). Adjusted EBITDA was ($1.2) million for the third quarter, representing a $0.2m improvement over the comparable quarter in 2018. The net loss was $931,000.

TriGrow

Washington-based TriGrow made some key hires. TriGrow Brands is headed up by two very different execs with diverse branding backgrounds – former Coca Cola COO Phil Humphries and DOPE Magazine co-founder Trek Manzoni. TriGrow brought in Phil Humphries as they aim to create a full-service agency allowing cannabis cultivators to grow into consistent and efficient operators that have the capability to expand as much as they like. Like the ingredients that go into making Coca Cola a worldwide-recognized brand, TriGrow argues that the backbone of a brand is its ability to recreate the same product over and over – despite weather conditions or bugs or mold, common destroyers of cannabis crops that can be avoided using TriGrow Systems.

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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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