What’s likely is someone’s going to wait until the company bleeds out further, before coming in to see what’s left’ CannTrust’s stock took another major hit on Monday after the embattled cannabis producer disclosed it had received a second non-compliance rating from Health Canada, this time in connection to its facility in Vaughan, Ont. The […]
Banking, Finance & Real Estate
Tilray, Inc. Reports Second Quarter 2019 Financial Results
PRESS RELEASE Revenue Rises 371.1% to $45.9 (C$60.9) Million in the Second Quarter Compared to the Prior Year Period Canadian Adult-Use Revenue Nearly Doubles to $15.0 (C$20.0) Million Compared to Prior Quarter Key Investments Made in Europe and the U.S. as Part of Ongoing Focus on Global Expansion NANAIMO, BRITISH COLUMBIA – Tilray, Inc. (“Tilray” or […]
Alaska credit union to end marijuana business pilot program
An Alaska credit union plans to discontinue a pilot program to provide checking and savings accounts to marijuana-related businesses, an official said. Credit Union 1 will end the program Aug. 30 because critical insurance coverage will no longer be available, The Anchorage Daily News reported Tuesday. Credit Union 1 announced the program’s launch in November […]
States Stamp Out Smokable Hemp, Consolidate Lobbying and PA Efforts, NIDA Funds MJ& Pregnancy Research, Webinar: Seeds of Change, Security Training
PRESS RELEASE Acquisition Expands Cresco Labs’ Multistate Footprint into Limited License New York Market Projected to Grow to $500 Million by 2022 CHICAGO–(BUSINESS WIRE)– Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has received […]
Columbia Care Reports Second Quarter 2019 Results
PRESS RELEASE Second quarter 2019 revenue of $19.3 million, an increase of 102% over prior year period Expansion of US footprint with launches in California, Florida, Ohio and Puerto Rico, reinforcing organic growth strategy in key markets Launch of the CNC Card, the nation’s first credit card for the cannabis industry NEW YORK–(BUSINESS WIRE)–Columbia Care […]
CANNEX AND 4FRONT COMPLETE MERGER, CREATING 4FRONT VENTURES (NEW TRADING SYMBOL: CSE: FFNT)
PRESS RELEASE 4Front Ventures is built upon battle-tested operating capabilities, experienced and aligned leadership, a strategic, multi-state asset base, and a commitment to being a magnet for talent. VANCOUVER, BC, and PHOENIX, AZ, July 31, 2019 – Cannex Capital Holdings Inc. (CSE: CNNX; OTCQX: CNXXF) (“Cannex”) and 4Front Holdings LLC (“4Front”) announce the closing of […]
Aphria Inc. Announces 158% Increase in Adult-Use Sales and Profitable Fourth Quarter
PRESS RELEASE Reports Profitable Fourth Quarter Record Net Revenue of $128.6 Million, Up 75% from Prior Quarter Revenue for Adult-use Cannabis of $18.5 Million, Up 158% from Prior Quarter Provides Fiscal Year 2020 Outlook Leamington, Ontario – August 1, 2019 – Aphria Inc. (“Aphria” or the “Company”) (TSX: APHA and NYSE: APHA) today reported its […]
Congress can solve the cannabis banking conundrum now
With the number of states legalizing cannabis continuing to grow, it’s understandable that Americans with differing views would want to debate whether it’s time to reform the nation’s marijuana laws. As representatives of the credit union and banking industries, we aren’t focused on the legalization debate. Instead, we are trying to solve a pressing practical concerns caused […]
Data Proves Cannabis Dispensaries Increase Property Values
As more states approve medical cannabis and legalize recreational cannabis, the amount of data proving that cannabis dispensaries increase local property values continues to pile up. Numerous studies conducted by researchers, companies, and even real estate associations not only show that property values increase when dispensaries open nearby but also that property values jump when […]
Financing Options for Cannabis Companies
Q&A: What Capital Sources Look for When Providing Financing to Cannabis Companies For cannabis companies seeking financing, it can be difficult to understand what factors lenders consider when evaluating a business’s eligibility. In this interview, Andrew Lines, MAI, and a valuation partner at CohnReznick, and Tony Cappell, managing director and head of underwriting at Green […]
Surplus of unsold cannabis may lead to industry-wide writedowns: BMO
A glut of unsold pot stuck in Canadian licensed cannabis producer vaults may wind up being worthless, and could lead to industry-wide writedowns, according to analysts from BMO Capital Markets. BMO Capital Markets cannabis analysts Tamy Chen and Peter Sklar highlighted the growing amount of “unfinished inventory” since recreational marijuana was legalized in October in […]
Anatomy of a Cannabis Insurance Policy, Part 1: The Basics
By Jonathan Bench, Attorney @ Harris Bricken Insurance in the cannabis industry is big business, and business owners need to know what policies are available and what those policies cover. Why? Because in insurance policies, like all other business contracts (e.g. leases), the risk of a business venture is divided between the contracting parties. Your […]
Vertical Companies™ to Expand Its Multi-State Operations & Brands with $462.5 Million Acquisition of UMBRLA Holding Company and Brands
PRESS RELEASE Letter of Intent Signed for Large Scale Merger Bringing Leading Brands with Distribution in More than 700 Retail Dispensaries in CA and OR LOS ANGELES–(BUSINESS WIRE)–Vertical Companies™ (“Vertical”) today announced it has entered into an exclusive letter of intent (“LOI“) with the newly formed UMBRLA, Inc. (“UMBRLA”), a holding company in the process […]
Tilray, Inc. and Privateer Holdings, Inc. Sign Letter of Intent to Extend Lock-up and Provide for Orderly Release of 75 Million Tilray Shares Held by Privateer
PRESS RELEASE Lock-up to be Extended for up to Two Years on 77 Percent of Tilray’s Total Shares Outstanding Transaction Expected to be Tax-Efficient for Privateer Stockholders ANAIMO, B.C. – Tilray, Inc. (NASDAQ: TLRY), a global leader in cannabis research, cultivation, production, and distribution, today announced that it has signed a non-binding Letter of Intent […]
Plan to create special cannabis-friendly banks moves forward in California
Shut out of the traditional banking system by federal laws, the country’s largest legal marijuana market — in California — could benefit if the state approves a measure creating a special class of banks to handle pot money. The state Senate voted 35 to 1 on Tuesday to pass a bill that would allow people […]
Shareholder Activists May Target Pot Stocks Next
An investor’s opposition to Canopy Growth Corp.’s acquisition of Acreage Holdings Inc. may signal a new trend for an industry that’s largely been free from shareholder activism. Marcato Capital Management, which holds Acreage shares, has said it will vote against the deal because it undervalues the New York-based company. Marcato believes the value of pot firms […]
Columbia Care Reports First Quarter 2019, Fourth Quarter and Full Year 2018 Financial Results
PRESS RELEASE First quarter 2019 revenue increase of 45% over prior year Completion of go-public transaction provides capital to fund long-term growth prospects Expansion of US footprint with 13 lease signings in Florida, dispensary openings in Brooklyn, NY and San Diego, CA, reinforcing organic growth strategy in key markets NEW YORK–(BUSINESS WIRE)–Columbia Care Inc. (NEO: […]
The SAFE Banking Act Would Be a Giant Leap for Legal Cannabis
The Secure and Fair Enforcement (SAFE) Banking Act, which, in March, passed the U.S. House Committee on Financial Services by a significant bipartisan margin, represents a promising step forward for banks and cannabis companies that want to take sales out of the cash-based market and into the mainstream. Although the ultimate passage of the bill […]
