The Daily Hit: October 16, 2018

It’s time for your Daily Hit of cannabis financial news for October 16, 2018.

On The Site

India Globalization Capital Inc. (IGC) is – a cannabis company that doesn’t sell cannabis and is listed on the New York Stock Exchange (ICE). The company only books revenue from its legacy business of trading commodities and heavy equipment rental. For the three months ending September 30, this was $811,000. The net loss for the quarter was $858,000. There is no revenue from cannabis products at this time.

In Other News

The Green Organic Dutchman Holdings Ltd.  (TGODF)  received its medical sales license from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations for its Ancaster, Ontario facility.

PotNetwork Holdings, Inc.  (POTN) has successfully filed its Form 10 registration statement with the U.S. Securities and Exchange Commission, which included independent third party PCAOB auditor certification of its financial performance for all of 2017 and verification of its financial results through the first 6 months of 2018. Going forward, all such financial information will be PCAOB auditor verified.

Aphria Inc. (TSX: APH) (APHQF) has formed an alliance with the noted UK-based neurologist and rehabilitation physician Professor Michael Barnes MD FRCP, a leading voice on medical cannabis policy in Europe.

Delta 9 Cannabis Inc. (TSXV: NINE) said that legal sales of recreational cannabis will begin at 12:01 a.m. on Wednesday, with same day service within the city of Winnipeg. Recreational cannabis sales will also begin at 10 a.m. at Delta 9’s first retail Cannabis Superstore, located at 827 Dakota Street in the St. Vital area of Winnipeg. The Delta 9 store will carry a wide range of cannabis products from Delta 9 Cannabis, Canopy Growth, and Broken Coast Cannabis, among other suppliers. It will also offer a wide range of accessories, and the store will have highly trained cannabis specialists on site to answer any questions about products or product safety.

Charlotte’s Web Holdings, Inc. (CWEB), the market share leader in hemp-based CBD wellness products, has surpassed 3000 retail locations across the United States. At the end of 2017, Charlotte’s Web products were sold in approximately 2,000 locations. The company disclosed today that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter.

CV Sciences, Inc., (CVSI) preeminent supplier and manufacturer of industry leading hemp extract brand, PlusCBD Oil, is now sponsoring Rodale Institute’s research on organic hemp farming alongside industry leaders Patagonia and Dr. Bronner’s. The Rodale Institute is the nation’s leading organic farming institution, dedicated to pioneering organic farming through research and outreach.

 

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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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