Dai Truong's Cannabis Newsletter - Issue #8


I haven’t found the equivalent of a BVP Cloud Index for Cannabis yet (can someone with a CapIQ subscription and a bit of time create this?). But this US Peer Comparison Tracker I stumbled upon gives a better idea of Market Cap / Enterprise Value / Revenue than anything else I’ve seen. A bit off here and there on FDS and estimates, but directionally there.


Cannabis

Big Weed’s Growing Pains: Inside MedMen’s Marijuana Empire

A detailed, well-written article on MedMen from Rolling Stone.

Horizons ETFs to Launch World's First U.S.-Focused Marijuana ETF

Horizons ETFs Management announced that it has filed its final prospectus to launch the Horizons US Marijuana Index ETF. HMUS will be the first ETF in the world that is solely focused on providing exposure to companies with significant business activities in, or significant exposure to, the United States marijuana or hemp industries. HMUS is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the US Marijuana Companies Index.

Do We Really Need an “Apple Store of Weed”?

Everyone in the cannabis space says they want to create the Apple Store of weed — but is that actually a good thing?

Grass Is Greener - Netflix Documentary release on 4/20

Weed. Marijuana. Grass. Pot. Whatever you prefer to call it, America’s relationship with cannabis is a complicated one. In his directorial debut, hip hop pioneer Fab 5 Freddy (Yo! MTV Raps) presents an unparalleled look at the racially biased history of the war on marijuana. Snoop Dogg, Cypress Hill’s B-Real, and Damian Marley join a range of celebrities and experts who discuss the plant’s influence on music and popular culture, and the devastating impact its criminalization has had on black and Latino communities. As more and more states join the push to legalize marijuana, Grass is Greener dives deep into the glaring racial disparities in the growing cannabis market.

Features interviews with Snoop Dogg, Cypress Hill’s B-Real and Sen Dog, DMC, Doug E. Fresh, Chuck D, Damian Marley, Killer Mike and more.

Santa Cruz County's Cannabis Delivery Battle

Cannabis delivery startups and online services like Weedmaps are triggering backlash from licensed Santa Cruz dispensaries and county politicians. Santa Cruz County spokesperson Jason Hoppin tells GT that the county was concerned about the state prioritizing tax revenue from cannabis delivery over local governments’ say in what happens in their own jurisdictions. It’s an argument for “local control” that also frequently causes conflict in state-vs.-local debates about building new housing and other land use policies.

Wana Brands Named Colorado Manufacturing Awards Cannabis Manufacturer of the Year

This is the first year the Awards program, which is presented by CompanyWeek and Manufacturer’s Edge, has recognized Colorado’s burgeoning cannabis manufacturing sector. Other finalists in the cannabis category included Incredibles and Green Dot Labs. Finalists were selected for their excellence in three areas: quality control, sustainability and community involvement.

CBD

‘A new gold rush’: Tennessee hemp farming rises 1,100% in one year. Is it growing too fast?

Tennessee had only 44 licensed growers in 2015, 64 growers in 2016 and 117 in 2017. Last year, 226 farmers grew a combined 4,700 acres, and a majority of that acreage was farmed by brothers Zeke and Eli Green, one of the few commercial operations in the state. Not anymore. According to the new licensing data, at least 37 Tennessee farms are now licensed to grow 100 acres or more of hemp, and five farms are licensed to grow more than 1,000 acres.

New data show Americans are turning to CBD as a cure-all for the modern condition

QZ asked 2,000 Americans how they feel about CBD.

CBD For Life to Launch in Select Urban Outfitters

iAnthus announce that CBD For Life, the CBD brand which the Company agreed to acquire on March 29, 2019 (see details here), has entered into an agreement with Urban Outfitters, The agreement places CBD For Life products on Urban Outfitters’ e-commerce platform and top 6 retail locations in the U.S. The CBD For Life products are expected to launch in the select Urban Outfitters stores later this month.

Beboe Launches Luxury CBD-infused Skincare Line: "Beboe Therapies"

Beboe announces the launch of Beboe Therapies, a CBD-infused skincare collection that combines the brand’s unmatched plant expertise and quality standards.

The Face Serum (300 mg CBD) costs $148 for a 1 oz bottle while the Sheet Mask (50 mg CBD/mask) costs $78 for a pack of five. Looks like GTI needs Beboe to start justifying the acquisition price.

Deals

DionyMed BrandsAnnounces C$10M Bought Deal and Grants Option to Increase Deal Size to C$20M

Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles.

SLANG Worldwide to Acquire Arbor Pacific, Adding Category-Leading Products and Expanding into WA

SLANG Worldwide, a global cannabis CPG company, announced it has entered into an agreement to acquire Arbor Pacific, the proposed transaction will further bolster SLANG’s brand portfolio through the acquisition of both the Avitas and Hellavated brands, as well as expand SLANG’s distribution footprint into the Washington market.

Canopy Rivers Invest $2.5M in High Beauty

Canopy Rivers invested $2.5M (18.4% of the company on a fully diluted basis, including additional warrant coverage) in High Beauty, creator of cannabis beauty brand high, which is currently sold in Sephora stores. high is a beauty brand powered by cannabis sativa. formulated using only cannabis sativa seed extracts and is legal and free of psychoactive substances including THC and CBD.

People

Caliva Continues to Expand Executive Leadership Team

Caliva, a California-based cannabis company, has added to its executive team. The company, which has just come off the heels of a $75M dollar funding round, welcomes Stephan Mätt as CMO, Tim Laehy as CFO, Elizabeth Cooksey as Head of Retail and Shanon Farney as Vice President of People.

iAnthus Hires New CMO

iAnthus hires Neil Calvesbert as Chief Marketing Officer, responsible for creating the brand vision and strategies to execute the companies growth objectives across brand, retail and consumer experience. Prior to joining iAnthus, Calvesbert served as the Chief Growth & Marketing Officer for Nicopure Labs and the Vice President of Global Marketing for Monster Energy Beverages