one year since the rollout of the adult-use cannabis program in Canada, and America’s hat celebrated by adding edibles, beverages and vapes to the list of approved products.” data-reactid=”18″>This week marked one year since the rollout of the adult-use cannabis program in Canada, and America’s hat celebrated by adding edibles, beverages and vapes to the list of approved products.
Legally accredited cannabis producers in the country sold about $1.1 billion of legal weed during the first year of legalization, according to an analysis of retail sales data by Cannabis Benchmarks. Meanwhile, Mexico continued to move closer to full legalization, as key Senate leaders unveiled draft legalization legislation.
p to 40% on Wednesday’s after-hours session. The standing theory points toward a mistake from a trader that led to substantial short covering. While the stock recalibrated after a few hours, it did end the week up 7%.” data-reactid=”20″>On the markets front, Cronos Group Inc (NASDAQ: CRON) posted gains of up to 40% on Wednesday’s after-hours session. The standing theory points toward a mistake from a trader that led to substantial short covering. While the stock recalibrated after a few hours, it did end the week up 7%.
APHA) went on a rally after reporting net first-quarter revenue of CA$126.1 million ($95.3 million), up 849% year-over-year, on revenue for adult-use cannabis of CA$20million, up 8% quarter-over-quarter. The company posted positive adjusted EBITDA of CA$1 million and adjusted EBITDA from cannabis operations of CA$1.3 million in the quarter.
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.” data-reactid=”22″>Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
DYMEF) went on a volatility roller-coaster, as the CEO and COO resigned, and the company defaulted its debt obligations.
“The implosion of DionyMed is a story that we may see get repeated more often in the future months,” Debra Borchardt, CEO of Green Market Report, told Benzinga. “The company has imploded quickly after basically not making debt payments.
“Usually the creditors try to work out a deal so that they get at least something. In this case, as it looked like more creditors were beginning to line up with their palms out. In this case, GLAS has demanded $24 million, which is probably going to bankrupt the company. The CEO and COO have resigned. A spectacular flame out that we sadly may see more of in the future.”
launched two new product lines.” data-reactid=”26″>Finally, California Gov. Gavin Newsom signed a number of bills aimed at making tax laws more fair to cannabis businesses in the state, and Houseplant, the cannabis company co-founded by Evan Goldberg and Seth Rogen, in partnership with Canopy Growth Corp (NYSE: CGC), launched two new product lines.
https://tinyletter.com/javierhasse” data-reactid=”27″>If you want to get this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse
Cannabis ETFs delivered big gains. Over the last five trading days:
HMLSF) (TSE:HMMJ) rose 3.63%
MJ) gained 5.15%
YOLO) was up 4.38%
THCX) advanced 3.89%
CNBS) rose by 3.62%
SPY) closed the period up 0.7%
“greenbox Robotics has been on the cusp of disrupting how the CBD and Cannabis industry thinks about retail. Solvent is thrilled to provide the missing piece, compliance driven payments. You will not find a more passionate team than greenbox under the leadership of CEO Zack Johnson. We’re excited to be a part of their current and future impact to the retail industry,” says Brian Meyer, Solvent Co-Founder & VP of Business Development.
MMNFF) stores. The Katz + Dogg line includes flowers, vape pens and pre-rolled joints, and will be sold at only four of MedMen’s Los Angeles locations, bringing together the worlds of contemporary art and next generation cannabis retail.
.@RichardPrince4, Darren Romanelli And @MedMen
Collaborate On #Cannabis Line Launch
Read about it on @BzCannabis!#BZCannabis
* https://t.co/EgS5W3GkkE pic.twitter.com/ENoXO2JR0V
— Javier Hasse (@JavierHasse) October 15, 2019
SLGWF) entered into a strategic partnership with Cookies, a cannabis and lifestyle brand foundedby Bay Area rapper and entrepreneur Berner, to bring its products products to the Colorado market. Cookies’ dried flower and concentrates will add to SLANG’s well established product portfolio presence in Colorado, joining top selling brands O.PenVape, District Edibles, Bakked concentrates and Pressies.
“We are proud to add the Cookies brand to our growing and diverse product portfolio in Colorado to increase our presence in one off the biggest cannabis markets,” SLANG Worldwide CEO Peter Miller said. “Berner and the Cookies family are passionate advocates and connoisseurs that continue drive cannabis culture.”
CGC) sold 42 million AusCann Group shares through a market block trade at 15 cents per share for gross proceeds of $6.3 million. The sale accounts for Canopy Growth’s total 13.2% interest in AusCann.
VGWCF) reported third-quarter revenue of $16.5 million, an 87.1% quarter-over-quarter jump. The cannabis extraction company achieved positive adjusted EBITDA of $9.8 million in the quarter versus $2 million in the second quarter. It posted net income of $5.9 million or 5 cents per share, a reversal from a net loss of $10.5 million or 10 cents per share in the prior quarter.
AVCNF) joined the OTCQX Markets and received a United States Department of Agriculture national organic program certification from Control Union Certifications, for its hemp cultivar. It has also attained registration for extra 15 genetic strains of cannabis.
“We are thrilled to reach our 10 million customer milestone as we continue to provide dispensaries around the country with the most accurate tools to organically grow their businesses, increase retention, ROI and sales,” said Jeffrey Harris, Founder and CEO of springbig. „The latest sales statistics underscores the efficacy of springbig’s services and we look forward to integrating our innovative programs with new retailers next year as more states enter both the medicinal and recreational space.”
ACB) (TSX: ACB) announced plans to roll out vapes, concentrates and edibles, for sale starting in December.
BTTR), an animal health and wellness CBD company, said Wednesday it signed a definitive agreement to acquire holistic pet foods company Halo, Purely for Pets.
SOL Global’s 'One Plant' Brand found that its proprietary delivery model saw continued growth by 20% or more, week after week since July, making it one of the fastest growing delivery services for medicinal cannabis in Florida, despite having a single retail location.
„We outsold competitors who have over a dozen brick and mortar locations,” SOL Global CEO Brady Cobb told Benzinga. „This is a testament to the power of our home delivery model and how One Plant cuts right to profit.”
PLNHF), the world’s largest cannabis dispensary announced the opening of its Phase II expansion at its Las Vegas superstore. The 4,500 sq-ft restaurant/bistro/pizzeria and café, across the grand-entrance hall from the dispensary, seats 150 and features a greenhouse concept design that brings the outdoors inside.
“Planet 13 continues to set the standard for exceptional cannabis experiences giving visitors the ability to shop, eat and have fun all in one luxurious cannabis-themed complex,” said Larry Scheffler, Co-CEO of Planet 13. „The 3,000 plus daily visitors to our Cannabis Entertainment Complex can now have the option to enjoy a gourmet coffee and delicious food and walk across the hall to experience the best cannabis dispensary in the world.”
OILFF) announced that it entered into an agreement to consolidate Nextleaf Labs under the Nextleaf Solutions name. Nextleaf Labs, located in greater Vancouver, was granted a Standard Processor license earlier last month. Nextleaf Solutions currently holds eight issued patents relating to cannabinoids.
Paul Pedersen told Benzinga, „We’re thrilled to expand our operations as we move towards developing and acquiring additional patents pertaining to industrial-scale extraction, purification, and formulation of THC and CBD. As we get into the next wave of legalization, we’re proud to power the technology behind many of these 2.0 products such as infused beverages and vapes.”
Check out the top stories on Benzinga Cannabis this week:
- 4Front Ventures President Talks Parallels Between Cannabis Advocacy, Entrepreneurship
- Judge Jeanine And CBD: Rise In Cannabis Opportunities Leads To Head-Scratching Partnerships
- Is Cannabis The Liquor Industry’s Worst Nightmare?
- Bulls And Bud Of The Week: Preparing For A Cannabis Stock Rebound And Getting Creative With A gen!us Jack Herer
- How Is Legal Cannabis Changing Workplace Drug Testing?
- CBD And Professional Sports: Where Do The US And The Rest Of The World Stand?
- Positioning CBD Businesses For Success
- All The Announcements From The Annual California Cannabis Business Conference
- Benzinga Cannabis Managing Director Javier Hasse To Speak At CLAB Conference In Miami, Oct. 28-29
- SAFE Banking Act Could Be In Danger In The Senate
- Benzinga Cannabis' Andrew Ward To Speak At The Mannada Cannabis Media Summit: Follow The Money In NYC
- ’The Science Is There': A Former Green Beret On How Cannabis Can Help Veterans With PTSD
- CollegeHumor’s DROPOUT TV To Debut Season 2 Of Cannabis-Themed Game Show 'Paranoia'
- Takeaways From The World’s Largest Cannabis Public Health Forum
- Study: Cannabis Customers Visit Dispensaries Roughly Once A Week, Prefer Weekdays
Oct. 23: Vangst will be participating in Santa Rita Jail Re-Entry Job & Resource Fair to help inmates who are eager and ready to be employed immediately or within the next six months. There will be 100 inmates and up to 20 employers participating in this job fair. Vangst will be the only cannabis employer at this event and will be there to discuss the different types of jobs that are available in the cannabis industry today.
Oct. 24: Patients, advocates, business professionals, and the Midwest community is invited to learn more about the budding cannabis industry at Sensible Minnesota’s 3rd Annual Minnesota Cannabis Summit. The event will take place at the Anderson Center of Hamline University in St. Paul, Minnesota.
Oct.25–27: Humble Bloom is offering its HB Field Trip, a weekend retreat at Aster Farms and Lodge at Blue Lakes, in beautiful Lake County, California. “Aster is excited to celebrate the harvest with the amazing community assembled by Humble Bloom,” says Sam Ludwig president of Aster Farms. “Spreading the word on sustainability, responsible farming, health and wellness is a pillar of our company and we look forward to educating and sharing out knowledge to guests, colleagues and the community.”