Connect with us

News

Mississippi Now Has Timeline For Medical Marijuana Rollout

Mississippi residents voted in favor of medical cannabis in November. Now, they have a clear projected timeline of when the program will be implemented.

Republished by Plato

Published

on

News

CBD News: Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble

Hemp businesses walk a fine line when describing the health benefits of their products: Make a claim without evidence or wording that misleads consumers, and soon the legal fees will pile up.

Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble is a post from: Hemp Industry Daily: Financial, Legal & business news for hemp & CBD entrepreneurs

From Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble on CBD Products & CBD Business News – Hemp Industry Daily.

This was autoposted by IFTTT. To find out more, read my post about news articles.

Republished by Plato

Published

on

Hemp businesses walk a fine line when describing the health benefits of their products: Make a claim without evidence or wording that misleads consumers, and soon the legal fees will pile up.

Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble is a post from: Hemp Industry Daily: Financial, Legal & business news for hemp & CBD entrepreneurs

From Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble on CBD Products & CBD Business News – Hemp Industry Daily.

This was autoposted by IFTTT. To find out more, read my post about news articles.

Source: http://blog.hempcbd.business/2021/01/cbd-news-want-to-promote-hemps-health.html

Continue Reading

News

Recreational Marijuana Could Raise $43 Million In Tax Revenue For Delaware Each Year

The Delaware state auditor is making a strong case for cannabis legalization in the state.

Republished by Plato

Published

on


Recreational Marijuana Could Raise $43 Million In Tax Revenue For Delaware Each Year | High Times






























Source: https://hightimes.com/news/delaware/recreational-marijuana-could-raise-43-million-tax-revenue-delaware/

Continue Reading

News

Hollister Biosciences Inc. Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020

VANCOUVER, BC, Jan. 25, 2021 /PRNewswire/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona, is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22nd, […]

The post Hollister Biosciences Inc. Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020 appeared first on CannabisFN.

Republished by Plato

Published

on



Ryan Allway

January 26th, 2021

News, Top News


VANCOUVER, BCJan. 25, 2021 /PRNewswire/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona, is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22nd, 2021, several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales.

The company’s wholly owned subsidiary, Venom Extracts (“Venom“) product suite is a category leader with over 4 million grams sold in 2020, accounting for up to 30 percent of category sales state-wide. Venom is positioned for continued growth in Arizona, it has a strong brand recognition and distribution network, its products are available at leading retailers including Harvest Health and Recreation (CSE: HARV,OTCQX: HRVSF), Curaleaf (CSE: CURA,OTCQX: CURLF), Bloom, MuV and Oasis Cannabis dispensaries among others.

Arizona voted to legalize adult use cannabis in November, “Marijuana Business Daily projects that the state’s recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024″.

“Medical-marijuana dispensaries that got approved to sell recreational marijuana on Friday include 13 of the 15 Harvest shops in the state, all eight Curaleaf shops, The Mint locations in Guadalupe and Mesa, three Territory Dispensary locations, and dozens of others in places across the state, including in TucsonYumaFlagstaffCottonwood and Sedona. Arizona Department of Health Services spokesman Steve Elliott said Friday that the department had approved 86 applications. Some dispensaries in the state are still waiting to file their applications because they are not yet prepared to offer recreational sales, which are expected to bring substantially more traffic to their stores”. As reported by AZ Central on January 22nd, 2021.

In 2020, sales of medical cannabis in Arizona grew by greater than 27%, as such Venom has been a catalyst for revenue growth of the Company. On March 26th, 2020 (see press release dated March 30th, 2020), Hollister Biosciences acquired Venom Extracts and since the closing, in the three quarters following, Venom contributed approximately CDN$38 million to the company’s 2020 revenue.  In the entire year of 2020, Venom Extracts generated greater than CDN$ 40 million in revenue (and CDN$4.8 million in adjusted EBITDA), up from CDN$16.4 million in 2019 a 144% year over year increase, and ending the year with a record month of sales for December totaling approximately CDN$5.5 million. These unaudited numbers represent record sales for the company, and the expectation is that sales growth will continue in 2021.

In addition to continued revenue growth, the company plans to focus on core growth area’s including; enhancing; unit margins, market penetration, loyalty and same-store sales.

Some additional highlights of the company include:

  • Branded Products now on sale in over 370 cannabis dispensaries in Arizona and California
  • 4 owned brands, and 3 brand collaborations
  • Over 4 million grams sold
  • Over 96,000 lbs. of cannabis biomass converted into finished products in Arizona
  • Total sales for 2020 increased 3233% from 2019 and are estimated to be approximately CDN $40 million
  • December 2020 sales totaled greater than CDN$6 million

The Company looks forward to continuing execution of its business plan and growth targets in 2021, primarily focused on the exponential growth anticipated in Arizona and continued market penetration of branded products throughout California.

About Hollister Biosciences Inc.

Hollister Biosciences Inc. is a multi-state company with a portfolio of innovative, high-quality cannabis & hemp branded consumer products and white-labeling manufacturing.  Our products are sold in 370 dispensaries across Arizona and California. As of March 26th, 2020 (see press release dated March 30th, 2020), Hollister Biosciences acquired 100% of Venom Extracts, a category leading brand which sold over 4 million grams of product in 2020, accounting for up to 30 percent of category sales in Arizona.

Website:www.hollistercannabisco.com

The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

This press release includes reference “EBITDA” and “adjusted EBITDA”, which are non-International Financial Reporting Standards (“IFRS”) financial measures. Non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. The Company defines EBITDA as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted by removing other non-recurring or non-cash items, including the unrealized change in fair value and realized fair value adjustments on inventory sold in the period, share-based compensation expenses, depreciation of right-of-use assets, revaluation adjustments of financial assets and liabilities measured on a fair value basis and non-recurring transaction costs included in operating expenses. EBITDA and Adjusted EBITDA have no direct comparable IFRS financial measures. The Company has used or included these non-IFRS measures solely to provide investors with added insight into the Company’s financial performance. Readers are cautioned that such non-IFRS measure may not be appropriate for any other purpose. Non-IFRS measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

SOURCE Hollister Biosciences Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/hollister-biosciences-inc-commends-the-state-of-arizona-for-starting-adult-use-cannabis-sales-ahead-of-schedule-venom-extracts-its-100-owned-subsidiary-is-a-category-leader-with-over-4-million-gra/

Continue Reading
News2 days ago

Cansortium Inc. Appoints CEO Robert Beasley to Board of Directors

Heartland4 days ago

Looking for something similar to FEALS but less pricey.

Heartland2 days ago

is it possible for accidental thc product in my cbd cigarettes?

News5 days ago

Florida Lawmakers Pushing For Cannabis Law Changes And Reform

Heartland5 days ago

My new ‘Up in Smoke’ 40th Anniversary Rolling Tray! 🌱🎱😎 Love it! High Quality and Much Larger than Anticipated!

Heartland4 days ago

Anyone had issues ordering from the US to the uk

Heartland2 days ago

Plant Power: Everyday Plants That Activate the Endocannabinoid System

Heartland1 day ago

Can cbd help prevent hearing loss due to noise?

Heartland1 day ago

A good oil based sweetener?

Heartland4 days ago

Newbie questions regarding cbd & anxiety

Heartland4 days ago

1 dropper CBD VS 2 droppers CBD = dramatic contrast in effect

Heartland5 days ago

Quitting Nicotine

Heartland5 days ago

Anyone heard of or have tried this brand? Location near Dallas Texas

Heartland5 days ago

CBD oil causing issues with heart

Heartland5 days ago

Horizons ETFs to Launch World’s First Psychedelics-Focused ETF

Heartland1 day ago

Build up of yellowy gold stuff inside vape tank. Is this the CBD content getting stuck? Can I extract it and dissolve it back into the E liquid?

Uncategorized5 days ago

USDA Final Rule on Hemp

Heartland5 days ago

What Is Kief And How To Use It | Honest Marijuana

Heartland2 days ago

The new Senate is the most cannabis-friendly in history. Tell your Senators to make this issue a priority!

Heartland5 days ago

Is this fine?

Heartland5 days ago

CBG is so amazing for me! I guess it’s different for everyone but it has way more health benefits than CBD! I’ve been ordering by the case from centurioncbg, this is the best pain relief lotion I’ve ever had. Anyone try them yet? Or any CBG?

Heartland4 days ago

Can someone tell me what type of CBD liquid I’m supposed to put in a vape pen refillable cartridge?

Heartland2 days ago

Transition from THC to CBD

Heartland5 days ago

Mendo x Royal Kush

Heartland2 days ago

Tincture doses?

Heartland5 days ago

Mydecine Innovations Group Included in First-Ever Psychedelics ETF

Heartland3 days ago

pre-made tincture are more expensive?

Uncategorized2 days ago

Auxly Cannabis – The Clear Cut Way To Play Canadian Cannabis 2.0

Heartland4 days ago

What’s wrong with my CBD?

Heartland2 days ago

Everything You Should Know About Delta 8 THC

Trending

A Cloud Nine Capital Entity Copyright © 2020 – All Rights Reserved Proudly Made in America