Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.
Read More
2 minute read

Canopy Growth Announces Financing Deal Including Roughly $50M Of New Gross Proceeds

By Jelena Martinovic
May 3, 9:31 AM
Canopy Growth Corporation has entered into an exchange and subscription agreement with a single institutional investor under which the Smiths Falls, Ontario-based company is expected to receive gross proceeds of roughly $50 million and exchange approximately CA$27.5 million ($20 million) of existing debt maturing in September 2025 for a new senior unsecured convertible debenture of the company maturing five years following the day of issuance. Under the terms of the deal, the investor will acquire a convertible debenture in an aggregate principal amount equal to CA$96,358,375 on closing.

CGC

Read More
3 minute read

Canadian Giant SNDL Speeds Up Acquisition Of Majority Positions In Two US Cannabis Companies As Marijuana Rescheduling Looms

By Jelena Martinovic
May 2, 1:24 PM
SNDL Inc. through its joint venture with SunStream Bancorp Inc., announced on Thursday that SunStream USA group of companies will proceed with the process of acquisition of equity positions in U.S. cannabis assets, following the completion of a review by SNDL's listing authority, NASDAQ. SunStream USA I, LLC and SunStream USA II, LLC are among the entities that comprise the SunStream USA Group, with each entity including one or more third-party investors, all independently managed and governed.The Calgary, Alberta-based company said on Thursday that SNDL's affiliate, SunStream Opportunities II LP, is anticipated to own non-voting and non-participating exchangeable securities in the SunStream USA entities.  

SNDL

Read More
2 minute read

CBD of Denver Reports YoY Increase In 2023 Gross Profit, Reduces Loss As It Continues To Expand Internationally

By Jelena Martinovic
May 2, 1:05 PM
CBD of Denver, Inc. has filed its financial results for the year ended Dec. 31, 2023.The Colorado-based cannabis company said total current assets increased to $117,218 in 2023, up from $28,043 in 2022. Gross profit for the year totaled $595,417, representing a significant recovery from a gross loss of $284,734 in the prior year, due to a 27% increase in sales and a reduction in cost of goods sold. Net income before provision for income tax showed improvement with a loss of $377,729 in 2023, compared to a loss of $3,257,710 in 2022. CBD of Denver attributed it to the company's efforts to enhance operational efficiency and improve cost management.

CBDD

Read More
2 minute read

Cannara Biotech Reports 51% YoY Revenue Increase In Q2, Wider Net Loss

By Jelena Martinovic
May 1, 3:45 PM
Cannara Biotech Inc. announced on Monday its fiscal second quarter 2024 financial and operating results for the three and six-month periods ended Feb. 29, 2024. The company reported a 68% year-over-year increase in revenues for the first half of fiscal 2024, a metrics CFO Nicholas Sosiak called "a testament to our growing influence in the Quebec, Ontario, Alberta, and BC markets." "Our proactive steps towards streamlining assets align with our ambition to fortify our financial foundation as we relentlessly stay focused on gaining market share and becoming the leader in Canada, the second-largest cannabis market in the world," Sosiak said. "As for our long-term vision, we do see our future extend beyond our borders where Cannara is a globally recognized brand synonymous with excellence and value in cannabis."

LOVE

Read More
2 minute read

Cannabis Co. Entourage Health Reports 126% YoY Increase In 2023 Gross Profit, Cuts Losses Significantly

By Jelena Martinovic
April 30, 11:25 AM
Canadian cannabis producer and distributor Entourage Health Corp., announced on Tuesday its financial results for the fiscal year that ended Dec. 31, 2023. The Toronto-based company reported a total net revenue of CA$40.7 million ($29.8 million) in 2023, slightly down from CA$40.9 million in 2022. However, gross profit before fair value changes reached CA$2.4 million in the same period, representing a 126% year-over-year increase. "In 2023, Entourage made significant strides, advancing production and diversifying our market presence with innovative products," George Scorsis, CEO and executive chair, said. "Dime Bag's success is a prime example—quickly rising to become one of Ontario's fastest-growing pre-roll brands and maintaining its market leadership for two consecutive quarters. Driven by surging demand for our products and the effectiveness of our enhanced business model, we're achieving growth while improving cost efficiency, firmly establishing ourselves in a favorable financial position."

ETRGF

Read More
2 minute read

Las Vegas Cannabis Powerhouse Planet 13 On Verge Of Major Florida Expansion Via $49M Deal

By Jelena Martinovic
April 29, 11:09 AM
Las Vegas-based cannabis giant Planet 13 Holdings Inc. is a step closer to a major expansion in Florida.The Florida Office of Medical Marijuana Use (OMMU) gave the green light to Planet 13 for the proposed sale of Planet 13 Florida, Inc. and the acquisition of VidaCann, LLC. The sale of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC, was a closing condition to the company's proposed acquisition of VidaCann. Planet 13 first announced that it had entered into a membership interest purchase agreement to acquire all of the ownership interests of VidaCann in August for $48.9 million.

CSE:PLTH

Read More
3 minute read

This Undervalued Cannabis Stock Has Another Year Of Growth: Reports Record 2023 Revenue And Adjusted EBITDA

By Jelena Martinovic
April 29, 10:39 AM
Decibel Cannabis Company reported on Monday its audited financial results for the three and twelve month periods ending Dec. 31, 2023. The Calgary, Alberta-based company said it saw a record net revenue of CA$116 million ($84.8 million) in 2023, an increase of 46% over 2022. "The Company's fourth quarter financial results delivered another year of growth across all metrics and I look forward to working with the team to continue to build on this success" Benjamin Sze, Decibel's new CEO, said. Sze was recently appointed to serve as Decibel's CEO, succeeding Paul Wilson. He rejoined the company after previously serving as CEO before resigning in late 2020 to focus on his family.

DB

Read More
1 minute read

New York Weed Giant’s Collab With Airo Brings Cannabis Vaping To Next Level In These Two States

By Jelena Martinovic
Yesterday, 11:31 AM
The Cannabist Company Holdings Inc. announced on Friday its latest expansion with Airo Brands, a multi-state cannabis company focused on proprietary, cutting-edge vapor delivery platforms and flavorful, high-quality oils, into Virginia and Pennsylvania. "Expanding into Virginia and Pennsylvania underscores our commitment to providing the highest quality products and demonstrates the precision and expertise of The Cannabist Company to create consistent experiences across multiple markets, which is critical for developing brand equity," Volley Hayhurst, vice president of operations at the New York-based company, said.

CBSTF

Read More
2 minute read

Grown Rogue Boosts Ownership Of Michigan Cannabis Operations

By Jelena Martinovic
April 25, 11:02 AM
Grown Rogue International Inc. has increased ownership in its Michigan operations from 52.2% to 80% via two transactions valued at $2.8 million. The purchase price included $200,000 paid in cash and $2.6 million paid by way of four-year sellers' notes, the company said on Thursday. Grown Rogue boosted its ownership in Golden Harvests, LLC, the entity that controls its Michigan operations, operating out of an 80,000 sq ft facility containing roughly 15,000 sq ft of flowering bench space.

CSE:GRIN