Green Thumb Industries Inc (OTCMKTS:GTBIF)just announced thatit has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to operate a medical marijuana company in the state.
Even in light of this news, GTBIF has had a rough past week of trading action, with shares sinking something like -7% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way.
According to the release, assets include a manufacturing and cultivation facility in Schenectady County and a retail store in each of the following locations: Manhattan, Rochester, Halfmoon and Nassau County, three of which are open.
“As one of only 10 license holders in a state with a population of approximately 20 million, this acquisition is firmly in line with our strategic goal of entering highly regulated markets to manufacture and distribute cannabis brands at scale,” said GTI Founder and Chief Executive Officer Ben Kovler. “We believe entry into New York is an important milestone as we empower the right to wellness through responsible increased access to cannabis and are privileged to serve the people of New York seeking relief and an enhanced quality of life.”
Green Thumb Industries Inc (OTCMKTS:GTBIF) as a producer and distributor of cannabis products including flower, concentrates for dabbing and vaporizing, edibles, and topicals. The company markets its products through third party retailers. It also owns and operates a chain of 50 retail stores under the RISE dispensaries name. The company was founded in 2014 and is headquartered in Chicago, Illinois.
The company is a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve.
As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE(TM) dispensaries.
Liberty Health Sciences Inc (OTCMKTS:LHSIF)could be on the mend after a rip-roaring start to the week in which the stock powered as much as 25% off its midday lows in a monster turnaround that suggests support at present levels has its defenders.
To make matters more interesting, the company recently announced the sale, via its subsidiaries, of certain of its assets in Florida and substantially all of its assets in Ohio, in a transaction that was completed a week ago. According to the release, the Company is selling 36 acres of land, comprising its Chestnut Hill Tree Farm site in Alachua County, Florida, as well as all of its assets in Ohio, for an aggregate total of for US$14,750,000 to an arm’s length purchaser.
Liberty Health Sciences Inc (OTCMKTS:LHSIF) frames itself as a company that engages in the production and distribution of medical cannabis primarily in the State of Florida.
It has a strategic partnership with Veterans Cannabis Project to support various research projects focused on the treatment of service related trauma with cannabis derived products; and partnership with AdaViv Inc. to enhance production of cannabis.
The company is headquartered in Toronto, Canada.
Liberty Health Sciences was established to own and operate medical marijuana licenses in the United States. To date, the company owns one of 14 licenses issued in the state of Florida as well as 50.1% interest in a provisional processing license and a provisional dispensary license, both in Ohio. Liberty has also made an investment in a provisional medical license in the Commonwealth of Massachusetts.
Liberty Health Sciences Inc (OTCMKTS:LHSIF) generated sales of $5.5M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 59.1% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($5.4M against $7M, respectively).
CannaRoyalty Corp (OTCMKTS:ORHOF)is another interesting name in the cannabis patch. The company recently announced that it has divested its 5.1% equity interest in Alternative Medical Enterprises LLC for total consideration of US$6 Million. As Cresco Labs Inc. is prohibited under state law from acquiring additional positions in the Florida market, this divestment was a pre-closing condition to the Company’s previously announced plan of arrangement pursuant to which Cresco has agreed to acquire all of the issued and outstanding shares of Origin House.
ORHOF pulled in sales of $8.4M in its last reported quarterly financials, representing top line growth of 1550.4%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($29.4M against $25.6M).
CannaRoyalty Corp (OTCMKTS:ORHOF) trumpets itself as a private equity firm specializing in acquisitions. The firm invests in the legal cannabis sector with a focus on research and intellectual property, consumer brands, and industry infrastructure. It seeks to invest in the United States and Canada. CannaRoyalty Corp. is headquartered in Ottawa, Canada.
The company is doing business as Origin House. Origin House is a growing cannabis products and brands company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands.
The Company’s foundation is in California, the world’s largest regulated cannabis market, where it delivers over 130 branded cannabis products to the majority of licensed dispensaries.
Origin House’s brand development platform is operated out of five licensed facilities located across California, and provides distribution, manufacturing, cultivation and marketing services for its brand partners. The Company is actively developing infrastructure to support the proliferation of its brands internationally, initially through its acquisition of Canadian retailer 180 Smoke.
Origin House’s Common Shares currently trade on the Canadian Securities Exchange (CSE) under the symbol “CRZ” and will trade under the symbol “OH” effective October 23, 2018. Origin House is the registered business name of CannaRoyalty Corp.