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Medical Marijuana Giant Trulieve, Backer Of Florida’s Recreational Cannabis Ballot, Narrows Loss, Reports Uptick In Q1 Revenue, Gross Profit

By Jelena Martinovic
May 9, 8:49 AM
Trulieve Cannabis Corp. announced on Thursday its first quarter results for the three months ended March 31, 2024. The Tallahassee, Florida-based medical cannabis giant reported revenue of $298 million for the first quarter of fiscal 2024, representing an increase of 4% sequentially and year-over-year, with 96% of revenue from retail sales.

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C21 Reports Slight YoY Increase In Q4 Same Store Cannabis Sales As It Prepares To Wrap Up Acquisition of Deep Roots Harvests

By Jelena Martinovic
May 9, 8:01 AM
Vertically integrated cannabis company C21 Investments Inc. reported on Tuesday its unaudited financial results for the fiscal year ended Jan. 31, 2024.The company reported a slight increase in same-store sales over the previous fourth quarter, despite a decline of 12% in Nevada sales over the same period. CEO and President Sonny Newman called it "a testament to our strong brand and loyal customer base that has consistently generated 500,000 customer transactions annually."  

CSE:CXXI

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IM Cannabis Doubles Down On Germany Following Legalization Policy Change, Reports YoY Drop In Q1 Gross Profit And Revenue

By Jelena Martinovic
May 8, 11:21 AM
IM Cannabis reported a 13% sequential increase in revenue for the three months ended March 31, 2024, hitting CA$10.7 million ($7.8 million). That is, however, a 4% decrease compared to the same quarter of last year.Oren Shuster, the company's CEO, said IM Cannabis will double down on Germany, now that recent approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana.

CSE:IMCC

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Village Farms Reports Record Q1 Canadian Cannabis Sales Following 49% YoY Increase, Continues To Strengthen International Presence

By Jelena Martinovic
May 8, 9:20 AM
Village Farms reported on Wednesday its financial results for the first quarter ended March 31, 2024, revealing a new record with Canadian cannabis sales increasing 49% year-over-year to $37.4 million."The first quarter was an especially strong start to 2024," Michael DeGiglio, president and CEO of the company, said. "Our success in quality, innovation and brand building, together with the support of our provincial boards and retail partners, are driving these results as we delight our consumers."

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FDA Experts Weigh In On Incannex’s CannQuit-O With Feedback On CBD As Treatment For Opioid Use Disorder

By Jelena Martinovic
May 7, 12:35 PM
Incannex Healthcare Inc., a cannabinoid and psychedelic medicine biotechnology company, announced the successful completion of a pre-investigational new drug meeting with the U.S. Food and Drug Administration (FDA) regarding the development of CannQuit-O for the treatment of opioid use disorder (OUD).A number of FDA representatives shared insights on the CannQuit-O development program during the pre-IND teleconference in addition to providing recommendations on the proposed clinical development strategy.

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Cannabis Co. C21 Investments Secures Funding For $3.5M Acquisition Of Nevada’s Deep Roots Harvest

By Jelena Martinovic
May 7, 12:01 PM
C21 Investments announced on Monday the closing of its non-brokered private placement offering of its convertible debenture units.Under the deal, the company issued a total of 4,000 convertible debenture units at CA$1,000 ($731.375) per convertible debenture unit for aggregate gross proceeds of CA$4 million.Each convertible debenture unit offered under the private placement is comprised of one convertible debenture of the company in the principal amount of CA$1,000 convertible into the company's common shares and 1,000 detachable common share purchase warrants, with each warrant exercisable into one common share at CA$0.55 per share for 30 months from the issue date of the convertible debenture units.

CSE:CXXI

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Las Vegas Cannabis Powerhouse Planet 13 To Close $49M Florida Expansion Deal After Achieving Another Milestone

By Jelena Martinovic
May 7, 10:24 AM
Planet 13 closed its previously announced sale of Planet 13 Florida, Inc. on Monday, following the previously announced approval from the Florida Office of Medical Marijuana Use in April. The Las Vegas-based vertically-integrated multi-state company sold 100% of the equity interests of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC, in exchange for $9 million.The wrapping up of the sale is a condition to the closing of Planet 13's pending acquisition of VidaCann, LLC.

CSE:PLTH

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Canadian Marijuana Company Cronos Expands Into UK After Setting Up In Germany’s Nascent Market

By Jelena Martinovic
May 7, 9:31 AM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced on Tuesday that it's expanding its medical brand, PEACE NATURALS, into the United Kingdom market with its first shipment of cannabis flower to GROW Pharma.The Toronto-based cannabis company has partnered with a distributor of prescribed medicinal cannabis products in the UK after years of investing in research and development, tissue culture, and its cannabis genetics breeding program.The debut in the UK follows the company's expansion in Germany and Australia last year, after successfully expanding across Canada and Israel.

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EXCLUSIVE: ‘Cannabis Is Just Getting Started,’ Says This Top Stock Expert Who Knows How To Capitalize On Swing Trades

By Jelena Martinovic
May 3, 1:17 PM
"Cannabis is just getting started and there's going to be a lot of companies getting ready to take advantage of this massive growth cycle, government reform, news states, opening new opportunities and one day, interstate commerce." That's according to Benzinga's cannabis stock expert, Michael Berger, who is on a mission to uncover the most promising marijuana stocks poised for growth, even in a dull market.

CSE:CURA