CANNAINVESTOR Magazine May 2017 - Page 241

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Innovative Industrial Properties, Inc. (NYSE: IIPR) (the "Company") announced today results for the quarter ended March 31, 2017, the first full quarter since the Company commenced real estate operations and completed its initial public offering in December 2016.

2017 Highlights Year-to-Date

During the first quarter 2017, the Company generated total revenues and rental revenues of approximately $1.3 million, primarily reflecting the rent paid by PharmaCann at the Company's medical-use cannabis cultivation facility located in New York.

GW Pharmaceuticals plc Reports Fiscal Second Quarter 2017 Financial Results and Operational Progress

Financial Highlights

Cash and cash equivalents at 31 March 2017 of £306.3 million ($383.9 million) compared to £374.4 million as at 30 September 2016.

Revenue for the six months ended 31 March 2017 of £3.7 million ($4.6 million) compared to £6.3 million for the six months ended 31 March 2016.

Loss for the six months ended 31 March 2017 of £50.0 million ($62.6 million) compared to £34.5 million for the six months ended 31 March 2016

Solely for the convenience of the reader, the above balances have been translated into U.S. dollars at the rate on 31 March 2017 of $1.25331 to £1. These translations should not be considered representations that any such amounts have been, could have been or could be converted into U.S. dollars at that or any other exchange rate as at that or any other date.

Terra Tech Reports First Quarter 2017 Results

Financial Update:

Total revenues generated for the quarter ended March 31, 2017 increased 340% to approximately $6.8 million, compared to $1.5 million in the same period in 2016. The increase in first quarter revenues was primarily attributable to sales from the Blüm dispensary in Oakland, California, sales from the Company's four Nevada-based Blüm Dispensaries and sales of IVXX cannabis products. This was partially offset by a decrease in Edible Garden sales due to the expiration of the Company's contract with a grower of floral products.