Expansion continues in the cannabis patch, with organic footprint growth among many of the leaders in the space, even as the pandemic rages on. That expansion takes different forms for different leading names. But the overall picture remains one of high-ROI assumptions.
We look at several of the most active names in the space here, including: Green Thumb Industries Inc (OTCMKTS:GTBIF), Trulieve Cannabis Corp (OTCMKTS:TCNNF), and Liberty Health Sciences Inc (OTCMKTS:LHSIF). Green Thumb Industries Inc (OTCMKTS:GTBIF) just announced it will open Rise Duncansville, its 47th retail location, on June 30. According to the release, profits from the first day of sales will be donated to Last Prisoner Project, a nonprofit coalition of cannabis industry leaders, executives, and artists dedicated to bringing restorative justice to the cannabis industry. Green Thumb also donated the first day of profits to the Last Prisoners Project when Rise Chambersburg opened in Pennsylvania earlier this month. “We are grateful to create jobs throughout the state as we continue expanding our retail footprint in Pennsylvania during the COVID-19 crisis,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “The team is also honored to partner with the Last Prisoner Project on the important work of redressing the past and continuing harms of unjust laws and policies so that victimless cannabis prisoners can walk free.”
Green Thumb Industries Inc (OTCMKTS:GTBIF) bills itself as a company that manufactures and sells various cannabis products in the United States. The company’s cannabis products include 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 actually also named a Best Workplace 2018 by Crain’s Chicago Business. It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things. Green Thumb Industries Inc (OTCMKTS:GTBIF) pulled in sales of $138M in its last reported quarterly financials, representing top line growth of 271.9%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($101.8M against $182.5M, respectively).
One key name in the group that deserves some attention is CanaFarma Hemp Products Corp. (CSE:CNFA.CN), a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. CanaFarma’s flagship brand is “Yooforic” – ie, like “euphoric”, but with unique spelling – a line of hemp-based CBD-infused products for sale, meeting the highest standards for performance and purity, including gums, tinctures, and creams.
Even more importantly, the company’s model is driven by a unique marketing model that appears to be growing in terms of traction. Trailing sales and growth are quite strong, and CBD segment is increasingly attractive. We would also note that the hemp-sourced CBD market is growing at an 18.4% Compound Annual Growth Rate (2018-2022), which means it is now outpacing medical and recreational marijuana. This makes sense given that CBD has a much larger total addressable market than does marijuana given that it is not an intoxicant and has the potential to become a mainstream household industry.
Trulieve Cannabis Corp (OTCMKTS:TCNNF) just announced the doors of a record 50th location within the State of Florida opened on Friday, June 26th. In other words, one of the fastest expanding distribution forces in the cannabis space is still powering along on a rapid curve.
According to the release, the Ocala location is Trulieve’s 52nd location in the United States, 50 of which are located in the Company’s home state of Florida. Near downtown Ocala, the dispensary supports the Company’s mission to expand and ensure safe, reliable patient access statewide. It also joins Trulieve’s 49 other dispensaries statewide, including in nearby Gainesville, Lady Lake, and Daytona Beach. At approximately 4,400 square feet and with 10 point-of-sale stations, the dispensary will be the Company’s first in Marion County.
Trulieve Cannabis Corp (OTCMKTS:TCNNF) promulgates itself as a company that, through its subsidiary, Trulieve, Inc., engages in the cultivation, possession, distribution, and sale of medical cannabis in the United States.
It offers a suite of Trulieve branded products with approximately 125 SKUs, including nasal sprays, capsules, concentrates, syringes, and cannabis flower in tamper-proof containers for vaporizers, topical creams, tinctures, and vape cartridges. The company distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as takes orders online and by phone for delivery. As of November 20, 2018, the company operated 21 dispensaries. Trulieve Cannabis Corp. is headquartered in Quincy, Florida. If you’re long this stock, then you’re liking how the stock has responded to the announcement. TCNNF shares have been moving higher over the past week overall, pushing about 4% to the upside on above average trading volume. Trulieve Cannabis Corp (OTCMKTS:TCNNF) managed to rope in revenues totaling $129.2M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 118.5%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($143.5M against $104.7M).
Liberty Health Sciences Inc (OTCMKTS:LHSIF) just announced that it has entered into a licensing agreement with licensed California adult use and medicinal cannabis company HONEY, one of California’s largest full service companies, to supply all of Liberty’s dispensaries with the company’s full assortment of branded products. According to the release, in 2012, HONEY revolutionized the cannabis industry by becoming the first producer in the world to market distilled cannabis oil in vape cartridges. Today, they provide authentic, full spectrum oil in vape cartridges, applicators, and caps to legal dispensaries and delivery services.
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.
The stock has suffered a bit of late, with shares of LHSIF taking a hit in recent action, down about -11% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -11%. Liberty Health Sciences Inc (OTCMKTS:LHSIF) generated sales of $17.8M, 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 10.4% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($25M against $25.5M, respectively).
Trulieve Cannabis Corp (OTCMKTS: TCNNF) Announces a Listening and Education Tour
Trulieve Cannabis Corp (OTCMKTS: TCNNF) will host a Listening and Education Tour. The tour aims to meet with local leaders and exchange ideas. It will cover topics like expungement, agricultural, economic, and medical opportunities in the cannabis industry.
Champ Bailey will moderate the event
Champ Bailey, a football Hall of Famer and the chief diversity officer at Trulieve Georgia, will moderate the event. Additionally, Trulieve will hold its first event at the Carolyn Harris Performing Arts Center, Adel.
According to Bailey, a resident and native of Georgia, he is excited to meet experts and teach people the medical benefits of cannabis. He adds that Trulieve will make several tour stops to meet with community leaders. With the help of these leaders, the company will teach locals about how the cannabis industry could change the community. It will also create local support programs.
Experts that will be at the events
Moreover, the programs will have various industry experts, including Jim Wernick, the Director of State Expansion at Trulieve; Dr. James Lillard, the lead researcher at more house school of Medicine; Chase Daughtrey, a Cook County Judge, Heather Green, the president of the Adel-cook County Chamber of Commerce, and Luther Duke, the Mayor of Adel.
Trulieve is asking communities to submit questions before each stop through its emails. After the sessions, the company will also try to develop ways to help the community.
Trulieve is a cannabis company that operates in 11 U.S states. It has leading operations in Pennsylvania, Florida, and Arizona. Its other locations are Maryland, West Virginia, Connecticut, Massachusetts, and California.
Trulieve focuses on logistics, cultivating, processing, manufacturing, wholesale, and retail of cannabis and cannabis-infused products. It sells these products through Trulieve branded retail stores. It also has an online website where customers can purchase its products.
Trulieve products include nasal sprays, tinctures, vapes, edibles, dissolvable powders, capsules, topicals, concentrates, and flowers. It sells them through the Roll One, Modern Flower, Loveli, Co2lors, Avenue, Alchemy, Sweet Talk, Muse, Momenta, and Cultivar Collection brands.
The company also has 161 dispensaries, 112 of which are in Florida. Its headquarters are in Quincy, Florida.
Medical Marijuana Inc’s (OTCMKTS: MJNA) Subsidiary, HempMeds Brasil, Will Sponsor an Obesity Medicine Symposium
HempMeds Brasil, a subsidiary of Medical Marijuana Inc (OTCMKTS: MJNA), will sponsor the first Obesity Medicine Symposium for the Brazilian Society of Obesity. This event will take place on March 3-6, 2022.
The symposium will educate people on the benefits of cannabidiol
The Symposium will be at the Centro South Convention Center, Santa Catarina. It aims to bring together medical professionals, wellness organizations, and educators to talk about technological innovations and techniques that have emerged in treating obesity. HempMeds is sponsoring the event to spread awareness on how cannabidiol can be a crucial step in wellness routines.
According to Matheus Patelli, the Managing Director at Hemp Meds Brasil, the event gives the company a chance to educate people on cannabidiol. It will also highlight the benefits of cannabinoids in wellness, how people can use them, and the research surrounding them.
Patelli adds that the event will benefit both the people and the company as cannabidiol is legal in the country. Moreover, the government subsidizes it, so people know how and when to use it.
HempMeds will also give a presentation
Besides providing sponsorship for the event, HempMeds will also give a presentation on cannabidiol and medical cannabis on March 4. The presentation will touch on products in Brazil, their safety, legality, and applications.
Blake Schroeder, the CEO of Medical Marijuana, states that the company has had high revenue and operational growth in the last few years. Furthermore, its brand presence enabled it to host and sponsor the event. Schroeder adds that it has partnered with high-profile researchers and doctors. This move has allowed Medical Marijuana to educate and be transparent with its customers.
HempMeds Brasil was among the first cannabis companies which the National Sanitary Surveillance Agency has approved to import cannabidiol-based products. The company’s license allows it to supply products to various medical centers.
These products treat multiple sclerosis, chronic pain, Parkinson’s disease, and epilepsy. HempMeds is developing products for other diseases.
HempMeds’ parent company, Medical Marijuana, is a cannabis company that operates under various subsidiaries. Other than HempMeds, or also owns Kannaway. The company also partners with companies like Neuropathix and Axim Biotechnology Inc. Its headquarters are in San Diego, California.
Fire & Flower Holdings Corp’s (OTCMKTS: FFLWF) Subsidiary, Pineapple Express Delivery Inc, Will Offer Delivery in Metro Vancouver
Pineapple Express Delivery Inc, a subsidiary of Fire & Flower Holdings Corp (OTCMKTS: FFLWF), will offer next business day delivery via e-commerce websites owned by British Columbia Cannabis stores in Metro Vancouver. This will start on February 28, 2022.
Pineapple express makes fast deliveries
Pineapple Express is the most prominent cannabis delivery company. It does over 40,000 deliveries monthly to medical and adult-use cannabis customers in Canada. This company has become an essential part of Fire & Flower holdings since its acquisition on January 25, 2022.
According to the President of Pineapple Express, Randy Rolph, the company recognizes its customers’ need for fast delivery. Cannabis users in the Metro Vancouver area will now take advantage of the subsidiary’s services as it will begin offering next-day delivery services in British Columbia.
Ralph adds that Pineapple Express is very efficient with the fastest and highest scale in the country. The company can also make cost-effective deliveries.
Fire & Flower is a cannabis retailer that has over 100 stores. It uses Hifyre, a technology development subsidiary, to improve its operations and increase revenues. It also educates its customers on cannabis use.
Fire & Flower stores
Fire & Flower sells cannabis products through numerous stores. One of its first stores is Friendly Stranger, which opened in 1994 in Canada. This store has been advocating for cannabis legalization for years.
Friendly Stranger has worked to educate people on the benefits of using cannabis. It has also fought for people who were unfairly charged with cannabis use and made safe hemp products available for the people.
Another store that Fire & Flower owns is Happy Dayz which opened in 2007. The store now has 9 locations in Ontario. Unlike Friendly Stranger, these stores are smaller with an engaging team to give customers a more personalized experience.
HotBox Cannabis is a store that serves customers in Toronto. It also comes with a cannabis consumption lounge at 204 Augusta Street. This lounge, which was the first in Toronto, is near its 206 Augusta store, making it more convenient for cannabis customers. The lounge also sells accessories.
Fire & Flower also uses the Open Field Distribution logo to distribute wholesale products in Saskatchewan.