Home Cannabis Green Market Report: Marijuana Money Jan. 18

Green Market Report: Marijuana Money Jan. 18

Ohio began sales of medical marijuana this week. Sales were reported as brisk and lines were long, but the patients said they were happy and supplies held out. Acreage Holdings (CSE: ACRG.U) and Greenleaf Apothecaries both opened dispensaries

New York Governor Andrew Cuomo said he hoped to have adult cannabis legalized within 100 days. That doesn’t mean products will be for sale in a few months, it just means legislation could happen. Expect several more months before any retail stores open.

This week, Tilray (TLRY)  signed a $100 million deal with Authentic Brands to provide CBD for any of the company’s product lines. Authentic licenses companies like Nine West and Juicy Couture. This comes just one week after DSW said it was working with Green Growth Brands  to sell its CBD products

RELATED: How Gov. Andrew Cuomo Might Legalize Marijuana In New York

MedMen released its unaudited revenue figures for its second fiscal quarter. Systemwide revenue increased 40% sequentially to $29.9 million. The company said that if it included pending acquisitions that revenue number would be $49.5 million. Official results will be posted in February.

TILT closed the Jupiter and Blackbird transactions this week. Through Jupiter, TILT has a “bird in the hand” vape hardware business expected to drive roughly $200m in revenues in 2019 as vape demand continues to accelerate. Blackbird brings wholesale distribution capabilities in CA and NV that can be propagated into additional markets as well as leveraged longer term with the company’s Baker CRM to expand TILT’s wholesale footprint.”

RELATED: AG Nominee William Barr Announces Intention To Respect State Marijuana Laws

Golden Leaf terminated its plan to buy Sweet 16 license.

HEXO Corp. said that its common shares have been approved for listing on the NYSE and will begin trading at the open of markets on January 23. HEXO’s shares will trade on the NYSE American under the ticker symbol “HEXO”, the same symbol the Company’s common shares currently trade under, and will continue to trade under, on the Toronto Stock Exchange.

This article originally appeared on Green Market Report.

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