2 U.S. Cannabis Darlings That Are Falling Apart At the Seams

2 U.S. Cannabis Darlings That Are Falling Apart At the Seams The US cannabis industry is reaching an inflection point and is one of the fastest growing markets in the world. There are several leading US cannabis operators that are generating more than $100 million of revenue per quarter and have been guiding higher for future quarters. One of the main growth drivers for US cannabis companies has been the opening of new markets (recreational and medical). Over the next year, we expect to see additional states legalize recreational cannabis and see new states legalize medical cannabis. The November general election is expected to be a catalyst for the US cannabis industry and we are favorable on the tailwinds that could be

4Front Continues Expansion in Massachusetts

4Front Continues Expansion in MassachusettsMission dispensary celebrated the grand reopening of its Chicago store on July 31, two months after it was ransacked by dozens of people in just one of several incidents across the country of looters targeting cannabis businesses amid nationwide protests over the police killing of George Floyd.RELATED: UPDATED: Cannabis Businesses Targeted in Looting and RobberiesKris Krane, president and co-founder of Mission’s parent company 4Front Ventures, told Cannabis Business Times in June that it appeared to be a planned attack, as security footage captured several cars pulling up to the store at one time. Thirty to 40 people used crowbars and baseball bats to smash windows and doors to break into the South Chicago dispensary, Krane said.In

ManifestSeven Reports Second Quarter 2020 Financial Results

ManifestSeven Reports Second Quarter 2020 Financial Results ManifestSeven, California’s first integrated omnichannel platform for legal cannabis, today announced its financial results for the second quarter ended May 31, 2020. The results follow the Company’s receipt last month of conditional approval for the listing of its common shares on the Canadian Securities Exchange (“CSE”). All financial information in this press release is provided in U.S. dollars unless otherwise indicated. Financial Highlights: Revenue increased 116% year-over-year and 23% sequentially to $5.0 million. Gross profit increased 216% year-over-year and 40% sequentially to $1.8 million. Gross margin was 35.1% of revenue, up from 24.0% of revenue for the second quarter ended May 31, 2019, and 30.8% of revenue for the first quarter ended February 29, 2020. Net loss decreased 64%

Emerald Health Therapeutics and Quinto Resources Enter into Share Purchase Agreement for Sale of Quebec Cannabis Business

Emerald Health Therapeutics and Quinto Resources Enter into Share Purchase Agreement for Sale of Quebec Cannabis BusinessEmerald Health Therapeutics, Inc. (TSXV: EMH)  (“Emerald”) and Quinto Resources Inc. (“Quinto”) (TSXV: QIT) today announced that they have entered into a share purchase agreement dated July 30, 2020 (the “Agreement”) in respect of the sale of Emerald’s wholly-owned subsidiaries, Verdélite Sciences, Inc. (“Verdélite Sciences”) and Verdélite Property Holdings, Inc. (“Verdélite Property” and, together with Verdélite Sciences, the “Subsidiaries”). The Subsidiaries together own and operate a premium 88,000 square foot craft cannabis production indoor facility (the “Facility”) in St. Eustache, Québec. Pursuant to the Agreement, Quinto will purchase all of the issued and outstanding shares of the Subsidiaries in consideration for a cash purchase price

Why CLKA Embodies a New Theme in this Bull Market

Why CLKA Embodies a New Theme in this Bull MarketUncomfortable facts are still facts. You don’t necessarily want to think about them, but they are still true. And, to be a responsible investor, you have to look at the world with a computational self-honesty. A good example of this is the number of millionaires and billionaires in the world. Even as we wallow in a pandemic recession, the number of super-rich people grows and grows. According to recent economic research, the rich are likely to get much richer from the current turmoil because balance sheets are everything: If you don’t have enough capital to maintain your capital structure for any organization, you may have to let it go to someone who has the

Chicago-based cannabis company NuMed changes name to NuEra

Chicago-based cannabis company NuMed changes name to NuEra“The difference between marijuana and hemp is a matter of measurement,” says the National Institute of Standards and Technology (NIST), a physical science laboratory that is part of the U.S. Department of Commerce, on its website.And yet, taking those measurements to distinguish hemp—defined as having up to 0.3% tetrahydrocannabinol (THC)—and its higher-THC cousin, marijuana, is difficult in the burgeoning industries.It’s why NIST has launched a program to help laboratories accurately measure key chemical compounds in marijuana, hemp and other cannabis products.The goal of NIST’s Cannabis Quality Assurance (CannaQAP) program is to help labs produce consistent measurement results, which would both increase accuracy in product labeling and help forensic labs distinguish between hemp and

Nevada Compliance Board Holds Inaugural Meeting, FDA Issues Much-Anticipated Report: Week in Review

Nevada Compliance Board Holds Inaugural Meeting, FDA Issues Much-Anticipated Report: Week in ReviewOn July 22, the Boston Cannabis Board (BCB) adopted new rules and regulations. They state that the BCB’s role is to grant licenses to applicants “for cannabis establishments within the City of Boston while ensuring Licenses are granted in such a manner so as to ensure equity, quality, and community safety.“Specifically, the BCB is the siting authority for such establishments evaluating the proposed time, place, and manner in which these establishments are approved, open, and operate.”Cannabis Business Times and Cannabis Dispensary spoke with Lydia Edwards, councilor of Boston’s District 1, about the rules and regulations, and she shared several points of contention.The BCB noted in its new rules

Nevada Cannabis Compliance Board Revokes Six CWNevada Licenses

Nevada Cannabis Compliance Board Revokes Six CWNevada LicensesNo industry is immune from COVID-19’s impact, not even state-compliant cannabis. When the pandemic began, most states with legal cannabis programs designated cultivation, manufacturing and dispensary businesses and workers “essential.” However, these essential businesses are still illegal in the eyes of the federal government. As a result, CARES Act funding and other coronavirus-specific federal debt relief measures have not been available to state-compliant but federally illegal cannabis companies. Compounding liquidity issues, the tight capital-raising environment for cannabis companies before COVID-19 is now ever tighter, while operating expenses have increased. For cannabis operators with existing debt, the terms were already onerous by necessity, as traditional commercial lending terms have long eluded most cannabis businesses.

1933 Industries Announces $5 Million Private Placement

1933 Industries Announces $5 Million Private Placement 1933 Industries Inc. (the “Company” or “1933 Industries“) (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated cannabis consumer packaged goods company, announces today a non-brokered financing of up to C$5,000,000 (“Offering“). The Offering will consist of the sale of up to 66,666,666 units (each a “Unit“) at a price of C$0.075 per Unit. Each Unit will consist of one common share of the Company (“Common Share“) and one half of one transferable share purchase warrant (“Warrant“). Each whole share purchase Warrant will entitle the holder to acquire one Common Share at an exercise price of C$0.125 per share for a period of 24 months following the closing date of the Offering (“Closing Date“). The net proceeds of