You’re reading a copy of this week’s issue of the weekly New Cannabis Ventures, which we’ve been running since October 2015. The newsletter includes unique information to help our readers stay ahead of the curve. as links to the most important of the week. News.
Friends,
This week, New Cannabis Ventures released an exclusive report on BDSA’s monthly cannabis sales data for 11 states.
In daily terms, April sales grew sequentially in 10 of 11 states. Compared to a year ago, sales expanded in Florida, Illinois, Massachusetts and Michigan.
In April, the main growth engine was pre-roll in 4 states: Arizona, which rose 47%, California, which grew 8%, Illinois, which rose 17%, and Massachusetts, which grew by 34% year-on-year. In Florida, the strongest category was flower, jumping 38%. In Michigan, concentrates rose 48%. In Arizona, California, Colorado, Nevada and Oregon, lower flower sales continued to drive overall sales for the month. In Pennsylvania, vape withdrawal in February continued to affect concentrate sales, which fell 9%.
Exclusives
RIV Capital has changed course since it began operations. He began as an investor in the cannabis space to become a U.S. cannabis operator. In an exclusive interview, President and CEO Mark Sims talks about why and how the company plans to change gears, including its plans to acquire New York cannabis operator Etain.
New York State has been taking steps to open up the adult cannabis market. According to the fiscal year 2023 executive budget, the state expects to generate $ 1.25 billion in cannabis tax revenue over the next 6 years.
The Illinois Medical Cannabis Patient Program released medical cannabis sales five days after the release of adult use figures by the Illinois Department of Financial and Professional Regulation. In this exclusive article, we talk about the combined sales of cannabis for medical and adult use for May.
Dealmakers
Venture capitalists provide Canix with $ 10 million in funding. The company says the capital increase will stimulate the development of functions for crop forecasting, material resource planning, warehouse management and acquisition. In late 2020 we spoke with co-founder and CEO Stacey Hronowski about the company’s goal of reducing the cost of data entry for cannabis operators.
Earnings
Scotts Miracle-Gro narrowed its year-round focus on adjusted earnings and earnings. The company said it expected sales to U.S. consumers to fall by 4% to 6%, while Hawthorne sales fell by 40% to 45% for the year ending Sept. 30. . position itself in a fluid and rapidly evolving market. While we strive to deliver the best results for fiscal year 2022, our focus is shifting to the future, “said President and CEO Jim Hagedorn.
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Sincerely
Alan and Joel
info@newcannabisventures.com
New Cannabis Ventures ’NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter out the noise and keep up to date with the most important news in the cannabis business. NCV Newswire is hand-selected by an editor and is not automated in any way. Do you have confidential news tips? Get in touch.
