The Daily Hit: July 1, 2021

It’s time to your Each day Hit of hashish monetary information for July 1, 2021.

On the Web site

Exactus

Hemp CBD firm Exactus, Inc. (OTCQB:EXDI) acquired Panacea Life Sciences, Inc., however the quantity of the transaction was not disclosed. Panacea Life Sciences is a woman-owned and woman-led firm, devoted to creating and producing authorized, hemp-derived cannabinoid merchandise for shoppers and pets. Starting at PANA Natural Botanicals situated at Needle Rock and all through its 51,000 sq. foot, state-of-the-art, cGMP, extraction, manufacturing, testing and success middle situated in Golden, Colorado, Panacea operates in each phase of the CBD product worth chain.

Empower

Empower Clinics Inc. (CSE: CBDT)(OTC PINK: EPWCF) launched its audited consolidated monetary statements in United States {dollars}. Empower Clinics reported whole revenues grew 58% to $3,209,196 for the fiscal yr 2020 versus revenues of $2,031,581 for the fiscal yr 2021. The corporate had a web lack of $17,066,311 or $0.09 per share in comparison with $4,301,663 or $0.04 per share for the fiscal yr 2019. the corporate mentioned this was primarily pushed by a non-cash loss on the honest worth adjustment associated to its warrants excellent that had been impacted by the numerous appreciation of the corporate’s share value (a key enter in figuring out the honest worth). 

In Different Information

Nabis, California’s largest licensed hashish wholesale market platform, introduced right now the corporate raised $23 million in a Collection B funding spherical. The infusion of capital will assist the enlargement of Nabis’s on-line wholesaling enterprise that already distributes greater than $350 million value of hashish merchandise per yr. Outstanding Collection B buyers embody FJ Labs, Artemis Progress Companions, Silverleaf Enterprise Companions, Liquid 2 Ventures and Stanley Tang (Co-Founder, DoorDash). Traders within the firm’s $5 million Collection A increase, which closed lower than a yr in the past, embody Y Combinator and Babel Ventures.

Kadenwood, a number one plant-based wellness firm devoted to fostering client belief and transparency, has raised $50 million of money and media worth in a Collection B fundraising spherical with world purpose-led funding home The Craftory and Arcadian Capital Administration, and follow-on investments from present buyers. Already the most important U.S. provider of vertically built-in CBD client packaged items, this newest funding spherical additional accelerates the model’s mission to normalize CBD in well being and wellness merchandise by means of scale, strategic partnerships, and acquisitions.

Reality Enterprises, the guardian company behind Sacramento-based lbs. Distribution, right now introduced the oversubscription of a $10M spherical through personal placement providing and priced spherical to make it over a $11,500,000 increase. The funding will assist Reality Enterprises speed up development. Reality Enterprises operates a number of licensed B2B hashish verticals together with a distribution arm (lbs. DistributionTM), hashish manufacturing, and cultivation. The corporate operates all through California and is at present in an aggressive gross sales push within the Southern California market.

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