Jamaica rebuts article alleging country's cannabis regulator delaying export licensing 

Jamaica's cannabis regulator said that the country's licensed pot firms are permitted to continue exporting products, contrary to a media report that suggested otherwise. The Jamaica Gleaner reports that the country's Cannabis Licensing Authority (CLA) clarified several points raised in a Forbes article that claimed companies based there were expressing industry-wide frustration on export licensing delays. This lead some - including major Canadian pot producers - to suspend operations. Cannabis companies based in Jamaica have been able to export their products since 2018 without any limit on what they're able to ship out of the country.  

Valens strikes vape supply deal with TREC Brands

Cannabis extractor Valens said late Wednesday it has struck a deal with TREC Brands to make vape pens for the company's three major brands. Valens said it will make the products under a royalty-based payment structure, though it did not provide specifics. Separately, Valens said it acquired about 43,600 of its own shares in the open market under normal course issuer bid activity, and said it will continue to buy back its stock in the coming quarters. Canaccord Genuity analyst Kimberly Hedlin said in a research report that Valens' deal "is a major potential catalyst" that helps to validate the company's infused product technology and long-term growth strategy.   

Flowr loses two top executives, cumulatively raises $21.5M in new financing

Flowr Corp said late Wednesday that two of its top executives are leaving the company for positions outside of the pot industry. Flowr's chief legal officer Francesco Tallarico and chief people officer Ashley Thomson will both be stepping down later this month, the company said in a statement. Separately, Flowr said it has raised a total of $21.5 million after completing a second tranche of a non-brokered private placement. 

Greenlane reports US$33.9M in Q1 revenue amid shrinking Juul sales

Cannabis accessory- and vape-device-maker Greenlane Holdings reported Thursday it made US$33.9 million in first-quarter revenue, down by nearly one-third from the same period a year earlier amid restrictions on sales of its Juul products. Greenlane said that sales of Juul devices, which it distributes on behalf of the vape company, fell to US$4.4 million in the first quarter from $21 million a year earlier. The company recently announced it was moving away from low-margin Juul sales to focus on higher-margin products. Cowen analyst Vivien Azer said the company's move toward higher-margin sales is welcome, but that the current COVID-19 pandemic is expected to delay Greenlane's ability to be profitable to 2021. 
 

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