It’s time for your Daily Hit of cannabis financial news for November 10th, 2020. 

On the Site

Organigram Shares Plunge On New $60 Million Offering

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. announced an underwritten public offering of units of the company led by Canaccord Genuity Corp. who has agreed to purchase 32,500,000 Units from Organigram at a price of C$1.85 per Unit, for total gross proceeds of C$60,125,000.

Indus Holdings Turns Corner Despite Wildfire Challenges

Following the market close on Monday, Indus Holdings, Inc.  (OTCQX: INDXF)reported its financial results for the third quarter ended September 30, 2020, with revenue at $14.1 million. This was a 40% year-over-year growth from the third quarter last year and an increase of 43% from the prior quarter. “Despite the headwinds caused by the wildfires, our Q3 results are the direct result of a strategy that prioritizes increased cultivation output and the Indus family of owned products,” says Mark Ainsworth, Chief Executive Officer for Indus Holdings, Inc.

Zappy Wants You To Join The Mind Army

Mike “Zappy” Zapolin participates in both sides of the psychedelic marketplace. He’s an advocate for the use of psychedelic drugs and fights for legalization with his group, the Mind Army. He’s also a businessman and is building a ketamine company because of his passion for treating people. Green Market Report was able to chat with Zappy on several psychedelic topics, watch the video on YouTube here. 

In Other News

Harvest Health Reports Third Quarter Results for 2020 

Harvest Health reported a revenue of $61.6 million for Q3, which is up a whopping 86% from 2019’s third quarter. The adjusted EBITDA for Q3 2020 was $10.5 million, a big jump compared to $4.1 million in the second quarter of 2020.