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Ascend Wellness Vs MedMen Round 2 – Cannabis Daily January 6, 2021

The post Ascend Wellness Vs MedMen Round 2 – Cannabis Daily January 6, 2021 by appeared first on Benzinga. Visit Benzinga to get more great content like this.

Welcome to Cannabis Daily – Your daily guide to cannabis news, industry trends and trade ideas in under 5 mins.

Episode Summary:

Illinois marijuana sales reach to an all-time high of $173 million in the month of December.

Pharmagreen Announces Affirmed MOU To Acquire Licensed California Cannabis Company.

Ascend Wellness Holdings Announces MedMen has Continued to Breach the Investment Agreement.

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Elliot Lane

Aaron Thomas

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Unedited Transcript:

Good morning investors. Happy Thursday to you. This is Elliot lane with cannabis daily here. Thanks to Aaron Thomas as always for producing.

This bad boy of a show and Benzing and forgiving us the platform for it. The show is to help give you insights and fresh news for cannabis stocks and investible companies. Let’s dive right in for the news of Thursday, January 6th CIN wellness. We’ve been talking about them all week. We are back to the original reason of.

And investment agreement with med men. They released another PR this morning saying med men continues to breach the investment agreements and challenges, the authority of New York regulators. This being because madman refuses to close the transaction. Of the agreement that has already been approved by New York state regulators.

So a sin wellness, putting public pressure on med men, which is OTC listed at M in FFS and wellness. Also OTC a w H two very well-known companies, ascend wellness on the up and up men of course, one of the OGs, but had a very tough few years there, but it has been making some positive strides. And that being said, this is not a positive stride.

And I would imagine for both parties, it would be beneficial for this to be closed relatively soon. So I would imagine this news won’t go on too much longer unless we’re looking to get legal practices involved as well. So we’ll keep an eye on that for you, Illinois marijuana sales search to an all time high of $173 million in the month of December.

So people are still looking to buy illegal. Good news for the industry. They’re high tide. H I T I on the NASDAQ as opened their a hundred and sixth store in Canada. Now selling cannabis, there are 32nd selling in Ontario. Bigger update to me here though, is their cabana club loyalty program has expanded from 245,000 at the time of launch.

Tober of 2021 to just under 360,000 members today. So in one quarter they have grown over a hundred thousand members. I think that’s some 47% growth. So props to them, they’re obviously doing something right. With their loyalty program and keeping customers coming back to me, high tide is definitely a favorite stock of mine.

Definitely a favorite company, love their leadership, love their aggressive approach to growth. And I don’t think they’re going anywhere. Anytime soon, urban grow UGR throw on the NASDAQ.  They released a partnership with thrive. Agritech this is not imminent. But what this does for each company, urban gro expands their options of lighting with led solutions for growers via the partnership with thrive and for thrive.

This expands their. Into the cannabis industry via urban grows, pretty massive portfolio of cannabis companies internationally and other companies for that matter. So within Agra agritech, this is an interesting partnership that I think benefits both parties, advanced flower capital gamma, or AFCG raises 61 and a half million.

With the sale of 3 million shares at a price of $20 and 50 cents. Each advanced flower is one of the leading REITs that is a real estate investment trust in the cannabis industry. And I would say one of the more well-respected ones out there as well. We’ll get to another one here a little bit later to governor of New York and announces the creation of a $200 million.

Private fund to specifically help promote social equity in the state’s marijuana market. So very good news for small businesses. Very good news for those minorities who are looking to get into the industry. So overall the social equity initiative in New York is alive and well. Next up, we have Iowa Democrats unveil a resolution to put marijuana on the ballot for voters to decide.

Imagine that Kentucky if you haven’t been listening to our previous episodes this week, Kentucky has not done that.  Take a listen, but Iowa Democrats ideally successful. And the upcoming elections last but not least. We have IPR another REIT in the space. This is innovative industrial properties on the NASDAQ releases, their Q4 2021 update.

I IP owns 103 properties in 19 states. This represents around 7.7 million. So rentable square feet of property, the up until. The current quarter, they’ve invested approximately about 1.7 billion across the portfolio to date. They have several other. Spins on top of that in terms of maybe reimbursing their clients for improving their facilities so on and so forth, but that is their initial investment in their portfolio.

And two dates are October of 2021. To today they’ve made 29 acquisitions from. Including in that I believe 28 new properties. So IPR continuing its aggressive expansion and really being the leading REIT in the space. Don’t kill me, Rob, see Krista Polaris equity. But I do think they have earned. A lot of that title, that being said tons of movement today.

I’ll give you one more little tidbit farmer, green that’s P H B I on the OTC announces affirmed acquisition of a California cannabis company. This is the long valley farms. So PHB I’m new, newer to the scene in terms of aggressive. But that being said, I know Peter well-check decently well, their CEO and I think this could be a company to keep an eye on that being said, keep an eye on high tide today as sin wellness in med men.

 AFCG and AIP are both performing. We’ll do this again. One more time tomorrow. We’ll get Aaron Thomas in to give us a little insight on what’s happening in the cannabis culture side. But this is hopefully helping you make investment decisions. Let us know what you think, and review. Send us an email to canvas our dot com.

This is Elliot lane,

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The post Ascend Wellness Vs MedMen Round 2 – Cannabis Daily January 6, 2021 by appeared first on Benzinga. Visit Benzinga to get more great content like this.

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