2019 Cannabis Business Award's Publication of the Year |
WEDNESDAY, OCTOBER 2, 2024 |
FMCPG HAS BEEN SERVING AND REPRESENTING THE CANNABIS PHYSICIAN COMMUNITY
SINCE 2020 |
THIS MEETING HAS BEEN RESCHEDULED TO THURSDAY OCTOBER 3, 2024
THE "FLORIDA MEDICAL CANNABIS
PHYSICIAN GROUP" (FMCPG)
FOR ALL
"MEDICAL MARIJUANA DOCTORS"
AND "MMTC DIRECTORS ONLY " DISCUSSION WILL INCLUDE: REVIEW OF THE OMMU AND CHANGES TO THE DOCTOR'S PATIENT INPUT PORTAL ON THE OMMU WEBSITE.
DOCTORS WITHIN OUR GROUP WILL DISCUSS HOW THEY HAVE BEEN WORKING AROUND SOME OF THE CHANGES
LEGISLATIVE AGENDA FOR 2024 -2025
REF'S ISSUES AND SOLUTIONS
CLICK HERE TO REGISTER FOR THE THURSDAY OCT 3, 2024 MEETING |
MEDICAL CANNABIS PHYSICIAN PROMOTION PACKAGE BY CANNABIS NEWS FLORIDA
ARTICLE: Physician will contribute an article of 350 words**. This article will appear in the Cannabis News Florida e-newsletter for one month (4 weeks).
E-MAIL BLAST: Cannabis News Florida will send out one e-mail blast promoting the Physician to the other physicians in three zip code areas or one city to be determined by the Physician. The Physician will supply the information for the email blast. The Article above can be used in the e-mail blast.
The cost of this program is ONLY $500.
**Cannabis News Florida will assign a writer for a telephone interview with the Physician and create the article to be published. Physician shall have the right to review and approve the article before publication for an additional cost of $100.
IF YOU ARE INTERESTED, PLEASE EMAIL ME AT CHARLES@CANNABISNEWSFLORIDA.COM OR CALL MY CELL AT 954-605-4785 |
NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF
MMTC'S IN FLORIDA Click on Company Logo to be Transferred to Web Site |
Trulieve Partners with Black Buddha Cannabis to Launch Premium Products in Arizona and Pennsylvania
TALLAHASSEE, Fla., Oct. 1, 2024 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing medical marijuana company in the U.S., today announces a partnership with Black Buddha Cannabis, a purpose-driven and women-owned medical marijuana brand. The collaboration will introduce Black Buddha Cannabis products to Trulieve dispensaries in Arizona and Pennsylvania starting in October 2024.
Products from Black Buddha’s “BLYSS” and “DREAM” lines of premium medical marijuana flower will be available in Trulieve stores throughout Arizona and Pennsylvania starting Friday, October 4.
Black Buddha Cannabis, founded by Roz McCarthy, CEO of Soaring High Industries and Minorities for Medical Marijuana, brings a unique approach to the medical marijuana industry with a focus on wellness and healing. McCarthy, a 30+ year healthcare industry veteran and a 2018 honoree in High Times’ 100 Most Influential People, launched Black Buddha Cannabis after a traumatic brain injury that transformed her life and inspired her to explore the therapeutic benefits of medical marijuana.
Products from Black Buddha’s “BLYSS” and “DREAM” lines of premium medical marijuana flower will be available in Trulieve stores throughout Arizona and Pennsylvania starting Friday, October 4. Black Buddha products are curated for a blissful experience by focusing on terpene profiles and enhanced therapeutic effects that cater to a balanced lifestyle.
READ MORE |
Cresco Labs Announces Resignation from the Board
CHICAGO–SEPTEMBER 27 2024 — Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“ Cresco Labs ” or the “ Company ”), the industry leader in branded cannabis products with a portfolio of America’s most popular brands and the operator of Sunnyside dispensaries, today announced that Tarik Brooks has resigned from the Company’s Board of Directors to devote his time to other interests.
READ MORE |
Verano Announces the Opening of Zen Leaf™ Arcadia in Prime New Phoenix Location
Zen Leaf Arcadia, formerly known as Local Joint, relocated from E University Drive to its new home at 2710 E Indian School Road in Phoenix, a busy thoroughfare with more than 54,000 daily vehicles1
Opening Zen Leaf Arcadia follows Verano’s recent acquisition of Arizona and Virginia operations from The Cannabist Company, elevating the Company’s Arizona operational footprint to eight retail locations and 90,000 square feet of cultivation and processing capacity
Verano’s active operations span 14 states, comprised of 152 dispensaries and 15 cultivation and processing facilities with more than 1.1 million square feet of cultivation capacity
CHICAGO, Sept. 26, 2024 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the grand opening of Zen Leaf Arcadia in Phoenix, AZ, on Friday, September 27th, following a ceremonial ribbon cutting with representatives of the Greater Phoenix Chamber of Commerce at 8 a.m. local time. Zen Leaf Arcadia, located at 2710 E Indian School Road in Phoenix, will be open daily from 8 a.m. to 10 p.m. local time.
After relocating from its former home on the city’s south side, Zen Leaf Arcadia will offer an array of enhanced features and conveniences for cannabis consumers, including additional point-of-sale stations, increased parking and an original cannabis-inspired mural painted by Verano in-house artist Jeremiah Kaniaupio. Beginning Friday, guests visiting Zen Leaf Arcadia throughout the grand opening weekend celebration will be greeted by food trucks, DJs, and an array of exciting doorbuster deals including BOGOs, mix-n-matches, and up to 50% off specials on select BITS™, Savvy™, Hi-Klas™, Vital™, Verano™ and (the) Essence™ items.
READ MORE |
The Viridian Capital Credit Ranking Model utilizes eleven different bespoke financial and market variables to resolve four critical credit factors: Liquidity, Leverage, Profitability, and Size. These Factors are weighted to arrive at a credit score and credit rank. The use of market equity prices in several of our ratios makes our model dynamic, reacting instantly to new information driving stock prices rather than remaining fixed between earnings releases. The Viridian model provides a substitute for the credit ratings that are not yet available for cannabis companies and represents a valuable selection and monitoring tool for both debt and equity investors.
The graph shows the updated Viridian Capital Credit Rankings of the top 31 U.S. Cultivation and Retail companies. The black line shows our liquidity rank; the red indicates our leverage rank, and the green indicates our overall ranking. The blue squares depict the yield at which the respective company’s debt is offered. The numbers below the ticker symbols show the positive or negative changes in model rankings from the prior week. See this coming week’s Viridian Credit Tracker for more detail on the indicators used in the model.
What’s New?
Last week’s Chart introduced a pair of new valuation and leverage metrics that we believe are superior to traditional measures, taking into account important aspects of the MSO financial landscape, including accrued and unpaid 280e taxes and the preponderance of lease obligations in the capital structure of many competitors.
We have now incorporated several of these ratios into our credit model. Our leverage measures now include Adjusted Net Debt/ 2025 Estimated EBITDAR after making the following adjustments.
Leases: our model always incorporated leases as debt through our most powerful leverage ratio, Total Liabilities to Market Cap; however, our updated model utilizes an Adjusted Net Debt/2025 EBITDAR estimate, where the debt includes all leases.
Taxes: We have also included as debt any accrued tax liabilities (including those in long-term, uncertain tax liability accounts) in excess of ninety days of tax expense. It is clear that several prominent cannabis companies are utilizing unpaid debt as a financing source, and our model now reflects that reality.
Rent Expense: Since rent has already been deducted from EBITDA, we add back the estimated rent expense to calculate Earnings Before Interest, Taxes, Depreciation, and Rent. Our Adjusted Net Debt/ EBITDAR ratio is agnostic to whether a company finances itself through leases or debt.
Our Profitability indicators now include 2024 estimated EBITDAR/revenues, a measure that is unbiased in terms of whether companies lease or borrow.
Will More Changes Be Coming?
We are constantly working on potential improvements to the model. Several changes under consideration include the addition of indicators for management changes, late financial statements, and an explicit consideration of the volatility of the market cap. We welcome user feedback and suggestions.
View This Week's Viridian Chart of the Week For More Detail |
One of the unusual factors about the cannabis industry is that, because of its federal illegality, cannabis companies cannot file for Bankruptcy under Chapter 11 or Chapter 7 of the Bankruptcy code. This dramatically increases the uncertainty of how debt workouts will proceed compared to non-cannabis concerns.
We looked at the 31 companies that we credit rank each week and selected those with Debt/Market cap in excess of 10x. We have found this metric to be a good screening measure for distress.
We then asked the question, “What would the debt of these companies be worth in a workout?”
Based on these principles, the table above show estimates of the average debt value in a workout. Note that not all debt is equal; well-secured debt in these firms may well receive full value, while unsecured or subordinated debt may receive less than the estimate. Note also that none of these firms are currently defaulting or working out, and we do not wish to imply that this is imminent for any of them.
Obviously, many factors play into determining the value of a firm’s assets, but we did our calculations using a couple of basic principles: Chances are good that the intangible assets of these firms would be worth close to zero in a debt workout scenario.
Chances are equally high that the tangible assets of these firms would not fetch 100 cents on the dollar. We believe we are generous in our use of 80% in our calculations.
Viridian Credit Tracker
Credit ratings are not currently available for public cannabis companies leaving companies, lenders and investors with a gap of information. The Viridian Cannabis Credit Tracker fills this gap. The model uses 11 market and financial statement variables to discern 4 key credit factors: Liquidity, Leverage, Profitability, and Size, to provide credit/liquidity analysis for over 370 public Cannabis/Hemp companies.
See This Week's Viridian Credit Tracker for Full Detail on Our Credit Rankings for Cannabis Companies
About The Viridian Cannabis Deal Tracker
Launched in January 2015, and having analyzed more than $75B in deals, the Viridian Cannabis Deal Tracker is a proprietary data service that monitors and analyzes capital raise and M&A activity in the legal Cannabis, Hemp, and Psychedelics industries. Our insights help companies, investors, lenders and acquirers make informed capital allocation decisions. Each week the Deal Tracker provides proprietary data and market intelligence on transactions, including:
- Deals by Industry Sector (Track the Flow of Capital and M&A Deals by Industry Sector)
- Deal Structure (Equity/Debt for Capital Raises, Cash/Stock/Earnout for M&A)
- Principals to the Transaction (Issuer/Investor/Lender/Acquirer)
- Key Deal Terms (Deal Size, Valuation, Pricing, Warrants, Cost of Capital)
- Deals by Location of Issuer/Buyer/Seller (Track the Flow of Deals by State and Country)
- Credit Ratings (Leverage and Liquidity Ratios)
Contact
Scott Greiper
CEO
Viridian Capital Advisors, LLC
646.330.0704
sgreiper@viridianca.com
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NATIONAL AND INTERNATIONAL NEWS |
Shock Top’s Bold New Hard Iced LiiT Tea is Here - TILRAY BRANDS
LiiT Hard Iced Tea is Now Available Nationwide in 19.2-ounce Cans
PORTLAND, Ore., Sept. 26, 2024 — The Shock Top Company, a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), is excited to introduce its latest innovation: Shock Top LiiT Hard Iced Tea. With a robust 9% alcohol content by volume, this hard iced tea is designed to keep the good times rolling, even as the days get shorter.
This isn’t your grandma’s iced tea. Shock Top’s LiiT packs a punch with bold flavors and a refreshing twist that’s perfect for those who aren’t quite ready to let go of summer. Think of it as your new go-to companion for all things fall – from tailgates to bonfires – LiiT is the beverage that’ll keep your spirits high as temperatures drop.
READ MORE |
TerrAscend Closes on Remaining US$26 Million Draw of US$140 Million Debt Financing
Proceeds from second draw used to pay down higher interest Michigan debt
TORONTO, Oct. 01, 2024 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today announced that certain entities consolidated by the Company (the “Consolidated Entities”) in Michigan have completed the second draw of US$26 million in gross proceeds of the Company’s senior secured term loan (the “Loan”) for total gross proceeds of US$140 million from funds managed by FocusGrowth Asset Management, LP, a leading capital provider to the cannabis sector, along with other members of a loan syndicate, which was previously announced on August 2, 2024 (the “Transaction”). The proceeds from the second draw were used to pay down the Company’s higher interest Michigan debt. The Loan included an initial draw of US$114 million in gross proceeds, which was completed in August 2024, bringing the total gross proceeds under the Transaction to US$140 million.
READ MORE |
BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS
OVER 883,000
AND 679 DISPENSING LOCATIONS |
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
SEPTEMBER 27 2024 Report BY THE NUMBERS
Qualified Patients: (Active ID Card) SEPT 27 2024- 883,503 SEPT 20 2024- 886,915
SEPT 13 2024- 886,825
SEPT 06 2024- 886,232
AUG 30 2024- 885,373
AUG 23 2024- 885,409
AUG 16 2024- 885,040
Pattients Last Week: - 3,412
Qualified Ordering Physicians: 2,383
New Doctors Last Week: 5 Reporting Period: SEPT 20 TO SEPT 26 2024
Amount of Medical Marijuana Dispensed - (mgs THC) 351,476,117
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 2,905,571
Amount of Marijuana in a From for Smoking (oz) 125,020.902
Approved Dispensing Locations: 679
Added Last Week: 3 AYR CANNABIS - PALM BEACH GARDENS
CURALEAF - PORT ST. LUCIE THE FLOWERY - WEST PALM BEACH |
UPCOMING MEETING AND CONFERENCES |
CANNABIS NEWS FLORIDA READERS CAN RECEIVE A
20% REGISTRATION DISCOUNT BY USING THIS CODE WHEN YOU REGISTER CNF20 |
2024 Florida Cannabis Festival November 2nd and 3rd |
ADVERTISEMENT OPPORTUNITIES
If your goal is to get your business in front of the right people in the cannabis industry or you want to be an integral part of this new and exciting business opportunity, then you need to join with Cannabis News Florida as we help to establish cannabis as a major part of the economy in Florida. Cannabis News Florida is an online publication focusing on both local and national news from leading authorities about the medical and business developments in the medical cannabis industry covering the entire state of Florida.
Join the Cannabis News Florida force online and in print. We offer several marketing options to fit all budgets:
· MMTC PROMOS LISTED IN EACH E-NEWSLETTER
• Directory Listing
• Banner Ads
• Ad Space in the Newspaper
• Feature Articles
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For further information or to make your ad reservation, please call:561-368-6950 / 954-605-4785 cell charles@cannabisnewsflorida.com
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