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Canada OKs Green Growth Asset Sale Plan

Jordan Webber

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Green Growth

Toronto-based cannabis company Green Growth Brands is ready to hit the auction market after the Canadian court cleared its asset sale plan last Tuesday, June 2. It will join other Canadian cannabis companies in the thriving legal weed market.

It hasn’t been easy to buy weed online in Canada or in-store, however the growth of the legal cannabis market in Canada has forced legislation to revisit some of it’s antiquated laws and allow for more flexibility in the market.

The high court granted Green Growth Brands a ‘stalking horse bid’ to see its creditors and buy it for an estimated $105 million. This was after the company filed insolvency protection under the CCAA last month.

The Canadian court initially granted the application for protection for a 10-day period until May 29, 2020, but it was pushed until June 12, 2020. On Tuesday, the court once again issued Amended and Restated Order to extend the period until August 15 this year.

All Green Growth’s assets, properties, and undertakings in connection with the debtor-in-possession should be approved under the stalking horse agreement. The aggregate principal amount of 15 percent matured on May 17, with US$23,717,000 secured convertible debentures.

According to the court, Green Growth Brands has more than $100 million in secured debt to lender All Js Greenspace as of May 2020. The company is said to have ‘very limited cash on hand’ and only relies on lender Greenspace for financing.

Negative Cash Flow

Early April, the company recalled financial struggle after it had put all CBD business into receivership, shortly after former CEO Peter Horvath stepped down from his position. The company tried to focus on its marijuana operations in the United States but the pandemic slowed down sales altogether.

Green Growth’s operations in Nevada, Florida, and Massachusetts were ‘fueled by debt’ and expansion plans was put to an end. For the early months of 2020, the company’s cash flow were reported negative, which led to the piling of debt.

While the situation in early 2020 is not improving, former CEO Horvath didn’t blunt and continued pushing for an aggressive growth strategy. Horvath super headed Green Growth’s hostile takeover of Aphria Inc., which is a known pot producer in Canada.

Despite the change in strategies and an impressive network of kiosks, the company ventured into a turnaround plan in February before Horvath decided to step down in March. The splashy entrance to the CBD market isn’t enough to sustain the increasing debt of the company.

Part of Green Growth’s plan is to sell its CBD business but the pandemic shattered the sales from mall kiosks, as the government ordered the closure of establishments. The damage was huge and cost the company $34.8 million.

Green Growth is also facing a number of lawsuits including the failed merger with Moxie, which is seeking $19 million.

Cannabis Business

Laze Teams Up With Hazey Taughtme For A Cali Cannabis Collab

Daniel King

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The California market is “budding” (pun intended), and there is a new player on the team; Laze Cannabis. As one of the latest products to hit the California recreational marijuana market, Laze is officially brought to you by Just Mary, Greenwood Distro, and entertainment mastermind, Hazey Taughtme™️. The parties came together to form the first childproof one ounce can with a patent-pending lid. Laze will offer consumers an inside look at making a black-owned cannabis brand through a web series to be announced in the upcoming weeks.

Better known as “Haze,” Steven Palmer is a builder, strategist, entrepreneur, and social justice advocate. He aims to expand the cannabis industry for people of color, creating a larger market share in one of the country’s fastest-growing sectors.

“I build brands. I connect the dots. I teach. I create.” Haze said. 

Background on Haze

A native of York, Pennsylvania, Haze, otherwise known as Hazey Taughtme, is the CEO of Haze Ent. It is widely regarded as one of the nation’s leading brand managers. Haze is the founder/owner and the publicist for multiple companies, including Miracle Mile Studio, Black Cannabis Magazine, Laze Cannabis, and Royal Danks.

Haze has been instrumental in building the career of popular speaker and community activist Freeway Rick Ross. Like so many other clients, he has helped transform Freeway Rick Ross’ image from former drug kingpin to cannabis entrepreneur, motivational speaker, and community social justice advocate. Haze himself had experienced some of the pain Freeway Rick Ross had experienced, enduring prison and moving through the criminal justice system, and emerging as a new person. Haze helped manage Freeway Rick Ross’s image change, including speaking tours, book deals, film promotions, etc.

As a businessman, manager, and marketer, Haze has been at the forefront of creating opportunities for people of color in the cannabis industry. He works closely with the National Diversity & Inclusion Cannabis Alliance (NDICA) to increase aspiring entrepreneurs’ awareness and opportunities.

Haze has also worked closely in the entertainment industry. He’s been a music enthusiast since he was four years old, and he aspired to become an artist himself. At the age of 18, Haze wrote and sang with a group of three boys from the Harlem Boys Choir. Growing up, his father encouraged him, “If you want to pursue a music career, you also have to play an instrument.” Haze took to playing the piano and keyboards for several years. “Even today, knowing how to play an instrument gives you an advantage in the industry,” he explains.

Haze’s work ethic is the stuff of legend. He’s continuously serving his clients, partners, companies, and anyone else who’s actively working with him, working from 7 AM until midnight each day, and doing it all over again the next day. He claims he doesn’t have much of a personal life but is simply motivated to help create the most significant value and buzz for his clients that he possibly can. Before COVID-19 turned the year 2020 upside down, Haze put together a cannabis/CBD wellness experience for the Super Bowl party this past February for rapper and mogul Diddy.

The sky is the limit for Haze and Laze Cannabis and we look foward to watching this dynamic partnership come to life!

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Arts & Culture

Here’s How to Use CBD Safely Amid COVID-19 Pandemic

Jordan Webber

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Here’s How to Use CBD Safely Amid COVID-19 Pandemic

The outbreak of coronavirus disease 2019, shortly called COVID-19, has caused an unprecedented and dramatic impact on communities all over the world – including CBD enthusiasts. As governments from different states and countries impose home quarantine and social distancing policies, it is only natural that users of this popular compound are facing drastic changes in their ways of consumption in order to keep up with the protocols.

If you’re one among these users, knowing what the dos and don’ts are when using CBD products like portable vaporizers amid a pandemic is necessary to ensure a safe and fun CBD experience. To help you achieve that, we have prepared a list of the things you need to keep in mind while threats of the deadly disease is still a worldwide problem.

Read on.

Things to Do – How to Use CBD Safely

Buy Only from Reputable Dispensaries

As the health crisis worsens, supplies for resources are also expected to shrink, including CBD. Since there is an ongoing protocol for everyone to stay at home and practice social distancing, some suppliers of cannabidiol are expected to stop their operations. As a result, consumers are to be left with limited store choices, which fraudsters can take advantage for their personal gains.

In times like this, when transactions are primarily done online, it’s best to ensure that the one you’re seeking supply of CBD for is a legit and reliable dispensary.

To prevent the risk of falling victim to criminals, it’s best to limit your options to reputable stores only. Before heading straight into the checkout and providing your credit card information, make a habit of conducting a background check on the site you’re visiting first. Once you’ve verified that the details provided are true and that the store actually operates as a legal supplier, it is then that you can only start picking the products you want to get from the site.

Consider How Much THC the Product Contains

While it’s a popular belief that CBD works best with a little THC, it’s always a safe bet to get a product that only contains as low as the 0.3 percent cutoff required for CBD products. That is exactly what LA Fresh CBD touts in its products.

Primarily, this is because THC works as a psychoactive component, which means taking a dose of it can drive you straight into the cloud nine, or what people call the marijuana “high.” Since the COVID-19 pandemic has left the economy almost immobile, finding yourself in an unpleasant and dangerous level of head high will leave you helpless, as people are expected to stay on their homes, establishments are normally closed, and medical professionals are busy responding to the needs of the swelling number of infected patients.

Don’t Share

Sure, while cannabis enthusiasts live by a communal way of life, now’s not the time to remain faithful to that culture. Essentially, since the novel coronavirus has been proven to be transmittable via respiratory droplets and contact routes, sharing your vaping device with your favorite pals is a big no-no.

Aside from this, although it’s a known fact that CBD oils, gummies, and other related products are more satisfying when shared in groups, practicing social distancing of at least 1 meter or 3 feet is still more important to secure your safety amid the outbreak.

CBD Oil, Cannabis Oil

The Bottom Line

In this time of medical and economic upheaval, aligning your every action to what’s proper and necessary should be everyone’s top priority. Sure, while you’re still free to enjoy your favorite CBD products, practicing these necessary measures come as a compulsory action from anyone in the community.

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Cannabis Business

Things are Getting Seedy – New Cannabis App Coming Late 2020

Daniel King

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2020 has been a wild ride so far, to say the least. There have been some downfalls, but there certainly hasn’t been a lack of innovation during these trying times. Many people, mainly serial entrepreneurs, have taken the time “away” from their regular routines and started focusing on other ventures to capitalize on new markets and areas of growth. Some in the cannabis and CBD world have put their marketing skills to the test by launching and promoting their own brands. Others have taken the time to build software and digital products to further amplify their reach. 

Here at Plants Before Pills, we are no stranger to the latest cannabis, CBD, and Kratom trends. We review items such as CBD Oils all the way down to cannabis accessories, but this will be the first time we’ve learned about a new mobile app that looks to disrupt a very segmented space. 

This new app is called Seedy.

Seedy Founder Thomas Lopez has a vision of an online marketplace designed for home cannabis growers by growers where information, equipment, and seeds are shared and where a like-minded community thrives. Set to launch in late 2020, Seedy is the world’s first digital eco-system where growers can connect and sell products, used and new equipment, and other essential growing products like “nutes” and heritage seed strains.

By identifying an emerging market for home cultivators focusing on wellness and producing naturally harvested Cannabis and CBD/CBG, Seedy will become synonymous with the home cultivation movement as legalization spreads, and experienced growers turn to digital platforms for equipment and information.

Founder Lopez’s Entrepreneurial spirit has led to him holding over twenty unique patents in multiple industries. His inspiration for Seedy comes from more than 3 decades of experience in brand development, product engineering, and marketing. Seedy is the next step in home cannabis cultivation. It allows users to connect on one central platform creating a space similar to Amazon, or Etsy where small vendors can reach thousands of potential buyers while creating a digital community.

As COVID has crippled the economy in many ways, the cannabis market has been on fire, with many cannabis stocks and companies seeing all-time highs (no pun intended). The Seedy mobile app looks to be a great way to further augment the cannabis industry and connect industry professionals, growers, cultivators, and the like. The cannabis mobile app scene has seen some “censoring” but this app looks to be one that could provide incredible value to its users.

We are primed and ready to try this new app out when it debuts later this year.

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