Cannabis Monthly Q&A + Industry Trends Call
Call Details:
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Today, we will be hosting our monthly Q&A plus industry trends call to highlight how pricing and traffic drive sales across North America's adult-use and medical cannabis market. During our call, we will highlight the entire U.S. and Canadian cannabis markets and be taking questions about the industry and our position monitor.
Not so fast Canopy!
The Nasdaq stock exchange objects to Canopy Growth’s (CGC) plan to eventually consolidate the financial results of Canopy USA, according to a regulatory filing by the Canadian company with the U.S. Securities and Exchange Commission. We outlined in the chart below how this actually doesn't affect anything that Canopy owns and is just a reshuffle of how they brand their financial statements to try and show investors that they have sped up their entry into the U.S. market. The disclosure raises questions about whether the Ontario-based cannabis producer could keep its shares listed on the Nasdaq if it proceeds with its current plan to enter the U.S. marijuana market more quickly. Canopy doesn't actually own these U.S.-based companies like TerrAscend, Wana, Acreage, and Jetty but rather they say they have exchangeable shares. “Nasdaq has proposed that such (financial) consolidation is impermissible under Nasdaq’s general policies,” according to the filing. A Canopy spokesperson had this to say, "as we disclosed, Nasdaq has raised concerns specifically regarding our intention to consolidate the financials of Canopy USA and we have had ongoing communication with them and will continue to work to support compliance with their rules and regulations,”.
TILT Expands Partnership w/ Highsman.
TILT Holdings Inc (TLLTF) announced this morning the launch of “H” by Ricky Williams, the former NFL player’s medical marijuana brand. The purpose-driven brand will be distributed to dispensaries throughout the Commonwealth of Pennsylvania for medical marijuana patients through TILT subsidiary Standard Farms. "This brand line, more specifically marijuana, has profoundly and positively impacted my life,” said Ricky Williams, founder of “H” by Ricky Williams. “I introduced these products to break through the stigma of marijuana and improve access to those seeking to be the best versions of themselves. Thanks to our partnership with TILT, we can introduce even more patients to the benefits and healing properties of medical marijuana through our brand.” TILT CEO Gary Santo had this to say about the topic, “TILT’s differentiated brand-partner model allows us to collaborate with some of the most innovative and impactful brands in the U.S. and introduce them to new markets. I am proud to be working with Ricky to bring this authentic brand to patients in Pennsylvania.”
