Daily Cannabis Hit: November 1, 2021 - Grow Life 420

Daily Cannabis Hit: November 1, 2021

November 01, 2021

#KahliBuds #MMJ #CBD #THC

The Daily Hit

It’s time for your Daily Hit of cannabis financial news for November 1, 2021.

On The Site

Hemp Prices

Hemp Benchmarks has released its October report, with notable points including a 4% decline in observed prices for delta-8 THC distillate for the fourth consecutive month while sales numbers for this controversial cannabinoid made from hemp remain robust. This mirrors an overall dip in rates for CBD distillate, which is at an all-time low despite larger-volume deals. Newcomer delta-10 THC makes an appearance in the Hemp Benchmarks’ report for the month of October, though it is still unfamiliar to many consumers. Delta-10, closely related to delta-9, is one of the THC compounds found in hemp and cannabis that is responsible for making consumers feel high or euphoric. While delta-9 is more likely to have an effect on pleasure and memory and delta-8 is often used as a relaxant and sleep aid, some claim that delta-10 enhances energy, creativity, and productivity. (Little is factually known about how this cannabinoid functions in the body or what its effects are.)


The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (OTC: TGODF) is buying Galaxie Brands Corporation in a deal valued at C$21 million. the deal is expected to close near November 15.  Galaxie is a licensed producer focused on product innovation, branding, and manufacturing 2.0 products. The company creates and produces a range of products including premium cannabis edibles, infused pre-rolls, flavored and full melt vapes, oils, and solventless products. It also provides manufacturing and product development services to partners across Canada. TGOD said the acquisition will give the company improved regional distribution across Canada, providing product expansion capabilities into British Columbia for TGOD’s products and Highly Dutch brands. On the other side, Galaxie’s Cruuzy brand will get better access into Quebec, which is made for emerging cannabis enthusiasts.


ManifestSeven Holdings Corporation (M7) (OTCMKTS: MNFSF) announced financial results for its fiscal third-quarter ending August 31, 2021, on October 29, 2021, as revenues rose 11% sequentially to $4.2 million from the second quarter’s revenues of $3.8 million. The net loss for the quarter was $1.6 million. Despite this M7 said it is still in default of certain debt obligations. M7 said it is looking at solutions and is working closely with its major creditors, vendors, and landlords as it continues to pursue a range of strategic and financing alternatives.

In Other News

Columbia Care

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) announced it has completed its acquisition of Medicine Man, a premier, vertically integrated Colorado-based cannabis company that has been serving the Denver metro area since 2009. Total upfront consideration was $42.0 million, comprised of $8.4 million in cash and $33.6 million in stock, with the potential for an additional milestone payment based on 2021 performance. The transaction is immediately accretive to Adjusted EBITDA and cash flow from operations. Upfront consideration of $42.0 million represents a multiple of approximately 4.5x projected 2021 EBITDA.

XS Financial

XS Financial Inc. (CSE:XSF)  has completed its previously announced private placement of unsecured convertible notes in the aggregate principal amount of US$43.5 million, of which US$33.5 million will be funded at closing and US$10 million is available on a delayed draw on the same terms until June 30, 2022. The financing was led by a large institutional investor, with additional participation from an existing XSF Strategic Partner, urban-gro (NASDAQ:UGRO), Landrace Financial, Bengal Capital, and KEY Investment Partners.

The post Daily Cannabis Hit: November 1, 2021 appeared first on Green Market Report.


via www.KahliBuds.com

Staff, KahliBuds, 420GrowLife

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