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California Cannabis Company Exceeds Sales Expectations, Boosts Production To Improve Margins And Enhance Brands

By Nicolas Jose Rodriguez
May 28, 4:37 PM
California-based cannabis company Gold Flora (OTC: GRAMF) has reported significant developments in its first-quarter results for 2024. Exceeding sales projections, Gold Flora's retail revenue rose by 6%, while wholesale revenue jumped 72%.

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Viridian Chart Of The Week: Does Higher Capital Intensity Pay Off In Cannabis?

By Viridian Capital Advisors
May 28, 1:20 PM
The Viridian Chart of the Week on 8/27/23 demonstrated that cannabis is more capital-intensive than tobacco, alcohol, pharmaceuticals, or general consumer products. Cannabis measured 1.67x capital/sales. The industry has managed to reduce capital intensity slightly since then, and the group now measures 1.54x capital/sales.

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Weedmaps Reports YoY Improvements In Adjusted EBITDA, Reports Drop In Q1 Revenue

By Jelena Martinovic
May 28, 11:08 AM
WM Technology, Inc. (NASDAQ: MAPS) - also known as Weedmaps - announced on Friday its first quarter financial results for the three months ended March 31, 2024 and the full year ending December 31, 2023."I am proud of the progress and results our team was able to deliver to start the year, and more importantly, we are pleased that the net effects of our revenue recognition review were relatively minimal," said Doug Francis, executive chair of WM Technology. "We believe our continued focus on developing strong client relationships and commitment to operational efficiency have positioned the Company to continue to profitably build its base of quality clients in this dynamic industry over time."

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Organigram And This Canadian Cannabis Brand Expand In Europe And Beyond

By Jelena Martinovic
May 28, 10:20 AM
Germany's recent legislative push in the cannabis sector marks a significant turning point not only for the country but also for the European cannabis landscape. Europe has become more open-minded about medical and recreational marijuana over the recent years which is why the growing number of the North American cannabis operators that opted to venture into the new market doesn't come as a surprise. On Tuesday, Toronto-based cannabis giant Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.In the meantime, this week, Canadian cannabis brand Ghost Drops, announced an exclusive partnership with SOMAÍ Group, an international cannabinoid biopharma company with distribution channels.

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Entourage Health Cannabis Reports 9% YoY Increase In Q1 Revenue, Positive EBITDA And ‘Substantial Growth’

By Jelena Martinovic
May 28, 8:42 AM
Canadian cannabis producer and distributor Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE:4WE) announced on Tuesday its first quarter financial results for the three months ended March 31, 2024. The Toronto-based company reported a total revenue of CA$16.4 million ($12 million) (net revenue of CA$12.7 million, before excise duties and discounts), representing a 9% year-over-year increase. "Entourage's first quarter results are a testament to our robust financial health and strategic approach to business operations, positioning us for success throughout 2024," George Scorsis, the company's chair and CEO, said. "With defined infrastructure and supply agreements in place, we are well-positioned to continue delivering the accelerated growth we have already seen develop in Q1."

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