Green Growth Brands Inc (OTCMKTS:GGBXF) has reported revenues of $12.7 million in Q1 2020. The retail sales of CBD accounted for two-thirds of the total sales. Chief Executive Officer of Green Growth, Peter Horvath, said the team at Green Growth is confident to continue the growth story with the approaching holiday season.

Retail CBD sales

Green Growth is pleased with the topline growth recorded in Q1 and the current results, which shows consistent growth in the future. The retail CBD sales in November accounted for two-thirds of the overall sales reported in the total thirteen weeks of Q1 2020. According to Peter, the company accomplished a significant CBD footprint in a short period. He said the chain of shops, products, and wholesale relationships and growing web businesses strengthens the company’s position as a leader in the CBD industry. Green Growth expects to maintain the same trend in the future.

Highlights of Q1 2020

Green Growth reported Pro-forma revenues of $15.3 million from The+Source Henderson. Its MSO revenues are reported at $7.6 million, an increase of 38% from the previous quarter. The annual revenues from The+Source dispensaries based in Nevada are continuing at $15,000 per Sq. Ft. Green Growth has reported revenues of $5.1 million and expects to post more than $10 million in Q2 2020.

The total number of shops of Green Growth has surged to 139 across thirty-four states by the end of the quarter with the inauguration of eighty-one mall-based CBD shops in Q1 2020. Green Growth currently manages 193 shops. It is fulfilling the white label order ‘Mood’ of American Eagle. As per the performance indications, the company will maintain a partnership with American Eagle.

Green Growth opens 150^th store

Green Growth has opened 150^th Seventh Sense CBD mall-based shop in Columbus, Ohio. According to the customer database, 20% of its customers indulged in repeat purchases. The company is experiencing repeat purchases every 31 days online.

Green Growth has introduced SMS texting to customers on August 7, 2019. The enrollment to the services has increased considerably in the past 30 days. Seventh Sense will unveil the national media campaign this month, focusing on branded and media partnerships.

Indiva Ltd (OTCMKTS:NDVAF) signed a white label manufacturing accord with Dycar Pharmaceutical Ltd. As per the deal, the company will produce high-quality cannabis products under the Dycar brand from its London, Ontario licensed facility. Indiva will also receive financing of up to $4 million from Dycar.

Option to extend the deal

Indiva will repay the debt through its services to Dycar. It has an option to extend the deal for an additional two terms (minimum) at the sole discretion of Dycar. As a result, Indiva will get additional non-dilutive financing of up to $4.5 million.

CEO of Indiva, Niel Marotta, said the company is pleased to rope in a high-quality partner – Dycar into its B2B platform. Both firms share the same vision to deliver high-quality products to satisfy the market needs. He further said the company is excited to work with Dycar and bring innovative products that exceed the consumer and customer expectations.

Funding expected in mid-December 2019

Indiva expects the funding in mid-December 2019 subject to satisfying customary conditions that comprise receiving applicable third-party approvals and executing definitive agreements. The company also expects to receive financing of up to $4 million through unsecured convertible debentures. Each debenture is priced at $1000 and convertible to 5,000 common shares (at $0.20 for each share) of Indiva. The debenture holders will receive an interest of 10% and paid semi-annually (on December 31 and June 30). Issued debentures have a maturity of 36 months from the date of issue.

In Q3 2019, Indiva posted revenues of $185,539. The company received the nod for the distribution of pre-rolls, dry flower, and capsules to the customers in Quebec. It will also offer extraction services as per the accord signed in August 2019 to TerrAscend. Indiva will receive a minimum of 800 kg of dry flower annually from TerrAscend.

Marotta said the company is poised to report significant growth next year. He praised the strengths of his teams and contributions from partners for achieving commercial scale in such a short period. Indiva expects to meet the needs of 90% of the eligible customers by providing high-quality products.

Health Canada has authorized Delta 9 Cannabis Inc (OTCMKTS:VRNDF) to sell edible cannabis products, cannabis topical, and cannabis extracts. Chief Executive Officer of Delta, John Arbuthnot, said the approval from Health Canada permitting the sale of cannabis products is a milestone for the company.

Sells cannabis extracts on January 5, 2020

Delta has submitted notifications for innovative nine cannabis products to Health Canada on November 5, 2019. The updated processing license received from Health Canada on December 4, 2019, allows Delta to sell cannabis extracts with effective from January 5, 2020. John said the team at Delta worked relentlessly to introduce dried cannabis extracts, disposable vape oil pens, and vaporizable oil cartridges. According to the CEO, the company will begin shipment of cannabis products in early 2020.

Vaporizable cannabis oils

Delta is currently working with Westleaf Inc., with the help of Westleaf Labs LP for the development of disposable vape pens and vaporizable oil cartridges. These innovative products will comprise cannabis terpenes and distilled cannabis oil. Delta will brand these products under the brand names: Blast, Cruise, and Harmony that comprise active cannabinoids in different concentrations. The customers can buy vape products for recreational use in Q1 2020.

Dried sift cannabis products for recreational use

Delta is developing the sapphire line of sift cannabis (dried) products for recreational use. It sifts the blended products and later refines them. The resulting yellow/ brownish fine powder comprises lower levels of low potency plant materials and higher levels of high potency resin glands. It has a potency of over three times that of dried white flower cannabis. The customers can purchase dried sift cannabis products for recreational use in Q1 next year.

Delivers cannabinoids through nanoparticle technology

In Canada, Delta received an exclusive license to produce, and market products developed using Nanosphere Health Sciences Inc’s patented technology. The cannabinoids are delivered through nanoparticle technology of Nanosphere Health. Both companies are engaged in developing the first product to suit the needs of Canadian customers. Delta will produce intranasal products, transdermal viscous gels, and intraoral products using the nanosphere delivery system. It ensures precise dosage, faster results, and high bioavailability.

Delta focused on expanding the Winnipeg facilities in Q3 2019. The expansion helps the company to produce high-quality cannabis products.