Kaitlin Domangue
It’s time for your Daily Hit of cannabis financial news for February 1st, 2021.
On the Site
THC vs. CBD: Differences and Benefits
The difference between THC and CBD is how they interact with the body, and the effects they produce. Both cannabinoids have great benefits and can be used for a variety of things.
Sober January Leads to Boost in Cannabis Beverages
While many consumers put down the bottle this month for Sober January, some have picked up a cannabis-infused beverage instead causing sales to rise in this emerging category. “To our pleasant surprise, our January sales thus far have exceeded even our December sales. Trading high alcohol, high-calorie drinks with zero alcohol, low calorie Saka Vinfusions is Dry January’s best accompaniment,” said Tracey Mason, Co-founder and CEO of House of Saka.
Executive Spotlight: Maria Testa
Maria Testa is the Co-Founder of Moose Labs, where she handles branding, social media and customer relations. It was Maria’s “aha” moment that led to the development of the MouthPeace product line. In a predominantly male-run industry, her female perspective of the market and its associated problems have been a driving force behind the growth of Moose Labs.
GrowGen Buys Maine-based Grow Depot
It seems a month doesn’t go by without GrowGeneration Corp . (NASDAQ: GRWG ) making another acquisition. February is only just starting and the hydroponic store chain has said it is buying Grow Depot, a two-store chain in Auburn and Augusta, Maine. The acquisition brings the total number of GrowGen hydroponic garden centers in Maine to five, with locations in Auburn, Augusta, Biddeford, Brewer, and York.
Slang Teams Up with Merida to Speed Up Expansions
SLANG Worldwide Inc. (OTCQB: SLGWF) has teamed up with cannabis-focused private equity firm Merida Capital Holdings to speed up Slang’s expansion in both new and existing markets. In addition to the partnership, Slang said that Merida led a non-brokered private placement of up to C$10 million to fund further growth. The stock was rising over 6% to lately sell at 32 cents.
In Other News
Columbia Care Wins 5 Dispensary Licenses in West Virginia
Cannabis giant, Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP), has officially secured five dispensary licenses in West Virginia, establishing them as a completely vertically-integrated facility. Retail operations will be in Beckley, Fayetteville, Morgantown, St. Albans, and Williamstown.
Trulieve Secures 4 West Virginia Dispensary Permits
Trulieve (OTCQX: TCNNF), won four medical cannabis dispensary licenses in West Virginia. Locations will be in South Charleston in the greater Charleston area, Weston, Buckhannon, and Morgantown.
cbdMD to Donate Up to $500,000 to Help Bars & Restaurants in the Pandemic
Highly-respected CBD company, cbdMD, is giving back this year, in a huge way. The company is discounting their topicals by 25%, and then will match that discount with a cash donation up to $500,000. The donation will be made to The Barstool Fund, a fund set up by David Portnoy and Barstool Sports, and will go to all small businesses across the United States who have been impacted by the shutdowns of the COVID-19 pandemic.
