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GreenGro Technologies, Inc. (OTCMKTS:GRNH) Angling For A Piece Of The Cannabis Market’s Pie

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Data available reveals that California is the largest cannabis market in North America. This is so particularly after legalizing use of recreational cannabis. In this light, GreenGro Technologies, Inc. (OTCMKTS:GRNH) announced a solidification of the business in the State. In a press statement, the company lauded the move by the State calling it “historic.” The company expects a growth in demand for agricultural grow rooms. For that reason, the company expects growth in revenue.

Overhauling systems

In the statement, the company observes that the legislation could not have come at a better time. Per the statement, production is already underway for “sought-after strains of cannabis in the market today.” Through Genobreeding, the company will establish its name as “premier developers and distributors of cloned cannabis strains across the industry.”

Further, the statement revealed that it is overhauling its accounting team to bring its financial systems up to professional standards. This will facilitate the company’s intention to become a “fully-reporting SEC public entity.”

Commenting on the development, Chairman and CEO of GreenGro Technologies, Inc. (OTCMKTS: GRNH), Jim Haas said:

“We are very pleased with our ongoing progress in capturing a larger market share of the nation’s largest cannabis market following California’s latest reforms in its recreational cannabis laws. We look forward to the many opportunities that the State’s recreational market will present to us in 2018 and beyond and, as one of the first movers in the State, believe we are well-positioned to expand faster than ever in a market that is expected to grow to over $7 billion over the next few years.”

GreenGro Technologies, Inc. (OTCMKTS:GRNH) in strategic partnerships

To really exploit the benefits of the California market, the company announced partnerships with local companies. In a press statement, the partnership aims to provide “testing and quality control services” that will increase cash flow. The partnership includes D5 Partners, Inc., County Line Energy Corp., and Vertical Hydrogarden, a GreenGro Technologies, Inc. (OTCMKTS:GRNH) subsidiary. As per the statement, Vertical Hydrogarden will “acquire future distribution rights to Grow Box 5000 products.”

According to the GreenGro Technologies CEO, working with D5 Partners will help the partners reach maximum cannabis growing yields. According to the statement, D5 Partners will provide technology that will facilitate the growing yields in home environments.

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BUSINESS

Health Canada Awards CDL To Medipharm Labs Corp (OTCMKTS:MEDIF) To Commence New Drug Discovery Trials: Clocks Finished Goods Supply Of 550,000 Units

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Medipharm Labs Corp (OTCMKTS:MEDIF) announced the receipt of CDL (Cannabis Drug License) from Health Canada to commence drug discovery trials.

CDL is mandatory for Medipharm to produce and supply drugs with cannabis as the key ingredient. The PPD (pharmaceutical prescription drugs) are classified with DIN (Drug Identification Number).

Positions as a vital player

CEO of Medipharm, Keith Strachan, said the demand for pharmaceutical products that comprise cannabis is growing across the world. Medipharm is already positioned as a leader in the supply of vital drugs.

Opens doors for the production of IND

Medipharm already commenced efforts to obtain GMP certification, which is vital for CDL. Keith said CDL provides an opportunity for Medipharm to engage with existing partners to enhance revenue opportunities. The company also opened the doors to work with small and larger pharma companies to manufacture innovative drugs via late-stage clinical studies.

Medipharm is geared to provide active ingredients and pharmaceutical drugs derived from cannabis to other firms that received CDL to engage in new drug discovery through clinical trials.

Reports a record supply of finished goods

In Q4 2020, Medipharm is credited with a record supply of 550,000 finished goods. Keith said the shipment volumes demonstrate its capability to satisfy Canada’s growing demand using its GMP-certified facilities. This milestone exemplifies its efforts to improve profitability in 2021 by expediting growth.

Its private-label SKUs accounted for 100,000 units out of the supplied 550,000 units in Q4 2020, increasing 75,000 SKUs compared to the previous quarter. Keith said the demand for its proprietary formulations signals growth.

Its proprietary formulations are the best sellers in several provinces. According to the Ontario store’s sales data, the cannabidiol 50 Plus formula of Medipharm is the best selling cannabidiol oil to occupy the third position in the oils category. It is on the backdrop of maintaining a strong reputation as a supplier of high purity and quality products to consumers and B2B customers through provincial distributors.

The company included 25 different types of vape SKUs in the Q4 2020 shipments. It shows the continued efforts to improve manufacturing and contract production of top cannabis brands, ensuring consistent quality.

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An Insight From Akerna Corp (NASDAQ:KERN) Shows That Female Purchasers Account for 3% YoY Cannabis Sales Growth During The Valentine’s Day Weekend in 2021

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The business intelligence gained from Akerna Corp (NASDAQ:KERN) indicates that female purchasers account for a 3% YoY growth in cannabis sales during Valentine’s Day this year.

Females prefer cannabis flower

The females contributed to over 38% of the cannabis sales in 2021 compared to 25% during the previous year. Cannabis flower is the women’s favorite during the Valentine’s Day weekend in 2021. It accounted for 48% of the total cannabis sales, an increase of 3% compared to other categories like infused edibles, concentrates, pens, and cartridges.

Women’s spending on cannabis flower increases

Women’s spending on cannabis flower in 2021 surged to 45% compared to an increase of 35% in 2020.

BI Architect of Akerna, James Ahrendt, said females are the contributing factor in the sales of cannabis. It is evident from the household purchases. As a result, the companies target hemp and CBD brands and cannabis products to satisfy the needs of female customers.

Valentine’s Day sales of cannabis

The total cannabis sales during the Valentine’s Day weekend in 2021 are $170 million.

The daily lives of people in North America are altered since the onset of coronavirus. As a result, the spending on cannabis increased by 25 to 30%.

The sales of recreational cannabis rose to $60 in 2020 from $48 in 2019. Medical cannabis sales per visit surged to $123 in 2020 from $100 in 2019. James said cannabis enjoyed a dream run last year.

People are buying more cannabis products in each visit. Businesses engaging in cannabis can note this change and make plans to boost their sales. They should focus on flower compared to other categories and educate the customers about the benefits.

Prospects of cannabis in 2021

After great political strides in 2020, the cannabis industry expects to gain more as it moves towards legalization at the state level. It expects to attract more funding and mergers and acquisitions.

Consolidation is expected in the cannabis industry, with political preferences moving towards legalization in the US. According to cannabis law expert Eric Berlin, mergers and acquisitions is more strategic, mainly for distressed assets. Companies that have good assets but have not achieved success are good acquisition candidates.

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Agraflora Organics International Inc (OTCMKTS:AGFAF) Will Report First Revenues From Gelato, Kosher Kush, And Mimosa 37 In Summer

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Agraflora Organics International Inc (OTCMKTS:AGFAF) expects to realize its first revenues from three proprietary strains Gelato, Kosher Kush, and Mimosa 37 Summer. The attributes of these cannabis strains include high THC and affordability.

Satisfies demand for dried flower

Agraflora cultivated these proprietary strains in its Propagation Services Canada Inc. (PSCI), the cannabis manufacturing facility based in Delta, BC. It helps the company to satisfy the growing demand for dried flowers in Canada. PSCI is establishing a leadership role in offering economical and high THC cannabis strains.

General Manager, Ruben Houweling said the company incorporated changes to its infrastructure recently to improve drying capacity significantly. It helps the company to enhance summer revenues this year.

A global partner calibrated and incorporated changes to the prevailing drying rooms of PSCI. This helps PSCI to almost double its drying capacity with lower capital needs. The plant will also fine-tune its settings to manufacture rooted and healthy cuttings quickly.

Optimization of propagation strategies helps PSCI to produce customized nutrient formulations at each stage of the plant growth. It leads to higher yields per sq. meter with minimal spending on labor.

Settles the services by issuing common shares

The board of directors of Agraflora agreed to settle the services through the issue of its common shares. Agraflora issued 1.42 million common shares to settle the debt of $71,000.92. All the issued shares are subjected to a holding period of four months and one day from the date of issue.

Completes R&D trials

Agraflora completed R&D trials first-phase at its Winnipeg, Manitoba-based licensed 51,000 sq. Ft. edibles production facility and gears for an entry into the edibles market in Q1 2021. Agraflora can now achieve desired formulations and produce desired varieties using its efficient processes.

Manager (operations) of EIC, James Fletcher said the company is expediting supply contracts with its licensed manufacturers to produce gummies with desired flavors. The company utilizes the confectionary experience of over 97 years to produce gummies to satisfy the demand of several LP clients.

According to the board of directors, the company introduces tasty and high-quality gummies at the right time to satisfy the demand. The gummies category commands the highest share in the edibles sector.

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