The Week In Cannabis: Good Policy News, Mixed Stock Performance, Strong Week For ETFs

“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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Canopy Growth Corporation (TSX: WEED) (NYSE: 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.” data-reactid=”46″>Canopy Growth Corporation (TSX: WEED) (NYSE: 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.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Flowhub, a cannabis retail management platform closed an oversubscribed $23-million Series A financing round led by e.ventures; Evolv Ventures, the venture fund supported by Kraft Heinz; and Poseidon.” data-reactid=”47″>Flowhub, a cannabis retail management platform closed an oversubscribed $23-million Series A financing round led by e.ventures; Evolv Ventures, the venture fund supported by Kraft Heinz; and Poseidon.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Valens GroWorks Corp. (TSX: VGW) (OTC: 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.” data-reactid=”48″>Valens GroWorks Corp. (TSX: VGW) (OTC: 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.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Avicanna Inc (TSX: AVCN) (OTC: 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.” data-reactid=”49″>Avicanna Inc (TSX: AVCN) (OTC: 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.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="springbig, a leading provider in cannabis CRM and loyalty marketing technology announced its 10 million customer milestone since its launch in 2017. In April, springbig hit its 5 million customer milestone, which means the company doubled in the span of six&nbsp;months. In addition, springbig was announced as South Florida’s No. 2 fastest growing technology company, capturing 23% of the market share among 43 million adult users with plans to multiply its customer base in the coming months as they integrate their innovative programs with new retailers and as more states enter the recreational space.” data-reactid=”50″>springbig, a leading provider in cannabis CRM and loyalty marketing technology announced its 10 million customer milestone since its launch in 2017. In April, springbig hit its 5 million customer milestone, which means the company doubled in the span of six months. In addition, springbig was announced as South Florida’s No. 2 fastest growing technology company, capturing 23% of the market share among 43 million adult users with plans to multiply its customer base in the coming months as they integrate their innovative programs with new retailers and as more states enter the recreational space.

“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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The United Natural Products Alliance welcomed Mile High Labs as the first hemp company to join its organization. The announcement was made during UNPA’s annual meeting at Supply Side West, the dietary supplement industry’s premier trade show in Las Vegas. UNPA President Loren Israelsen noted the decision was made in part by Mile High Labs’ “clear commitment to quality, science and research together with a world-class facility and a committed and competent management team.”&nbsp;” data-reactid=”52″>The United Natural Products Alliance welcomed Mile High Labs as the first hemp company to join its organization. The announcement was made during UNPA’s annual meeting at Supply Side West, the dietary supplement industry’s premier trade show in Las Vegas. UNPA President Loren Israelsen noted the decision was made in part by Mile High Labs’ “clear commitment to quality, science and research together with a world-class facility and a committed and competent management team.” 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Former Seattle Seahawks linebacker Lofa Tatupu has launched his new line, ZoneIn CBD, motivated by years of suffering from chronic pain derived from a lifetime of competitive athletics.” data-reactid=”53″>Former Seattle Seahawks linebacker Lofa Tatupu has launched his new line, ZoneIn CBD, motivated by years of suffering from chronic pain derived from a lifetime of competitive athletics.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Vertically integrated cannabis company Holistic Industries closed a $55-million funding round.” data-reactid=”54″>Vertically integrated cannabis company Holistic Industries closed a $55-million funding round.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Aurora Cannabis (NYSE: ACB) (TSX: ACB) announced plans to roll out vapes, concentrates and edibles, for sale starting in December.” data-reactid=”55″>Aurora Cannabis (NYSE: ACB) (TSX: ACB) announced plans to roll out vapes, concentrates and edibles, for sale starting in December.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Better Choice Company (OTC: 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.” data-reactid=”56″>Better Choice Company (OTC: 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.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SOL Global announced that shareholders approved the company’s name change to "Bluma Wellness." The change reflects&nbsp;SOL Global’s transition to becoming a multistate operator, and will go into effect within the upcoming weeks. "We have assembled an incredibly talented and seasoned management team that is excited to build up Bluma’s operations in Florida and the proposed operations in Michigan and California," SOL Global CEO Brady Cobb told Benzinga.&nbsp;” data-reactid=”57″>SOL Global announced that shareholders approved the company’s name change to “Bluma Wellness.” The change reflects SOL Global’s transition to becoming a multistate operator, and will go into effect within the upcoming weeks. “We have assembled an incredibly talented and seasoned management team that is excited to build up Bluma’s operations in Florida and the proposed operations in Michigan and California,” SOL Global CEO Brady Cobb told Benzinga. 

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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Planet 13 (CSE: PLTH) (OTC: 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.” data-reactid=”60″>Planet 13 (CSE: PLTH) (OTC: 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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Nextleaf Solutions (OTC: 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&nbsp;issued patents relating to cannabinoids.” data-reactid=”62″>Nextleaf Solutions (OTC: 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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Top Stories Of The Week” data-reactid=”64″>Top Stories Of The Week

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

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Check out these and many other cannabis stories on Benzinga.com/cannabis” data-reactid=”82″>Check out these and many other cannabis stories on Benzinga.com/cannabis

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Events Calendar” data-reactid=”83″>Events Calendar

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Oct. 22–23: The Benzinga Cannabis Capital Conference is coming to Chicago, Illinois! You know you can’t miss it. Go to https://www.benzingacannabisconference.com/ for more information.” data-reactid=”84″>Oct. 22–23: The Benzinga Cannabis Capital Conference is coming to Chicago, Illinois! You know you can’t miss it. Go to https://www.benzingacannabisconference.com/ for more information.

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.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Oct. 28: in Ontario, Canada at Blue Mountain Village, the tourism and cannabis industry will come together for the first time for the&nbsp;1st&nbsp;Annual&nbsp;New Heights Cannabis Tourism Summit. The 1-day event, will feature trailblazers and experts who are already creating canna-tourism experiences such as cannabis-friendly hotels, resorts, festivals, spas, activities and more. “Canna-tourism can have a major economic impact, both directly and indirectly for both industries, similar to wine tourism.”&nbsp;Says Jennifer Mason, Founder, New Heights.&nbsp;“This Summit is designed to bring together the two industries to forge partnerships in order to build experiences&nbsp;and attract new customers. Recent market research indicates the future cannabis consumer looks&nbsp; more like a wine tourist than the stereotypical ‘stoner’. There are many untapped opportunities, Canada is posed to lead the industry with culinary tourism, spa and wellness experiences and more.”” data-reactid=”88″>Oct. 28: in Ontario, Canada at Blue Mountain Village, the tourism and cannabis industry will come together for the first time for the 1st Annual New Heights Cannabis Tourism Summit. The 1-day event, will feature trailblazers and experts who are already creating canna-tourism experiences such as cannabis-friendly hotels, resorts, festivals, spas, activities and more. “Canna-tourism can have a major economic impact, both directly and indirectly for both industries, similar to wine tourism.” Says Jennifer Mason, Founder, New Heights. “This Summit is designed to bring together the two industries to forge partnerships in order to build experiences and attract new customers. Recent market research indicates the future cannabis consumer looks  more like a wine tourist than the stereotypical ‘stoner’. There are many untapped opportunities, Canada is posed to lead the industry with culinary tourism, spa and wellness experiences and more.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Oct. 27–28: Benzinga Cannabis Managing Director Javier Hasse will speak at The Fourth Annual Cannabis LAB (CLAB) Conference &amp; Expo in Miami. Other speakers include Brady Cobb, CEO of Sol Global Investments Corporation; Ricky Williams, Vice President of Real Wellness; Gerry Greenspoon, Co-Founder of Greenspoon Marder Law; Matthew Ginder, Senior Counsel at Greenspoon Marder Law; Brett Finkelstein, Managing Director at Phyto Partners LP;&nbsp; Jose Javier Hildago, CEO of FLUENT Cannabis; Jared Mirsky, CEO of Wick &amp; Mortar; Kim Rivers, CEO of Trulieve; Jon Robbins, Partner of Akerman LLP; David Tran, Co-Founder of Dope Media; Chloe Villano, Founder of Cannabis Business Awards; Rosie Mattio, CEO of Mattio PR; and many others.” data-reactid=”89″>Oct. 27–28: Benzinga Cannabis Managing Director Javier Hasse will speak at The Fourth Annual Cannabis LAB (CLAB) Conference & Expo in Miami. Other speakers include Brady Cobb, CEO of Sol Global Investments Corporation; Ricky Williams, Vice President of Real Wellness; Gerry Greenspoon, Co-Founder of Greenspoon Marder Law; Matthew Ginder, Senior Counsel at Greenspoon Marder Law; Brett Finkelstein, Managing Director at Phyto Partners LP;  Jose Javier Hildago, CEO of FLUENT Cannabis; Jared Mirsky, CEO of Wick & Mortar; Kim Rivers, CEO of Trulieve; Jon Robbins, Partner of Akerman LLP; David Tran, Co-Founder of Dope Media; Chloe Villano, Founder of Cannabis Business Awards; Rosie Mattio, CEO of Mattio PR; and many others.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Picture by Javier Hasse.” data-reactid=”90″>Picture by Javier Hasse.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”91″>See more from Benzinga

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”96″>© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.