48North Cannabis Posts Fourth Quarter Revenues of $0.48 Million
48North Cannabis Corp (TSXV: NRTH) filed their fourth quarter 2019 financials today after the bell, positing revenues of $0.48 million for the period ended June 30, 2019. Revenues were down 29.70% on a quarter over quarter basis, with the firm posting revenues of $0.68 million in the prior quarter. While revenues were down for the […]
MYM Nutraceuticals Attempts to Refocus Operations Yet Again
MYM Nutraceuticals (CSE: MYM) is throwing in the towel. The firm announced Friday that it was going through restructuring efforts to realign their focus. After the cannabis flower-turned-CBD focused company failed to make any significant inroads on its previous strategic plans, MYM is now focused on producing hemp and cannabis extracts for global consumption. The […]
Hive Blockchain Posts Loss of $138 Million For Fiscal Year
It seems that much like cannabis, its harder to make money mining cryptocurrency than everyone believed. Hive Blockchain (TSXV: HIVE) announced its financials this morning for the year ended March 31, 2019, and despite a significant increase in revenues to $31.8 million, the firm still managed to post a net loss for the period. Due […]
iAnthus Receives $20M of Potenial $100M Financing Plan from Gotham Green
This morning iAnthus (CSE: IAN) announced a plan to issue upto $100M of convertible notes, with $20M already closing. The terms of the deal are: The first $20M tranche has closed to Green Gotham Partners (GGP) 19.5 months / 1.625 years (assuming iAnthus extends the notes an extra 12 months) 13% coupon per annum, paid […]
iAnthus Announces Further Financing From Gotham Green Partners
iAnthus Capital Holdings (CSE: IAN) announced this morning that it has secured up to US$100 million in additional financing. The funding comes in the form of senior secured convertible notes through long time partner Gotham Green Partners. The financing is set to occur in several tranches, of which the first consists of US$20 million. The […]
Vanishing Vultures: Are iAnthus, Harvest and TILT’s Debt Deals A Predatory Trap Or A False Bottom?
It can be difficult to get a proper loan for growth-stage cannabis businesses that are still scaling and, for a long time, it wasn’t necessary. Tens of billions in equity investments have carried the development of large cannabis concerns on both sides of the border over the past several years. But a slowing pace of […]
Ontario Reportedly Considering Closing Down Provincial Cannabis Operations
It was reported by BNN Bloomberg this afternoon that the Government of Ontario is considering getting out of the wholesale cannabis business. The Ontario Cannabis Retail Corporation, who runs the Ontario Cannabis Store, may be shutting its doors as the government asks themselves why they are in the warehousing business. The end of the provincial […]
Canopy Growth Downgraded to Neutral by Bank of America
Canopy Growth Corp (TSX: WEED) (NYSE: CGC) is off to a rough start this morning after Bank of America Merrill Lynch downgraded the equity from a rating of ‘Buy’ to “Neutral”, the latest in a series of reduced targets for the firm from analysts. The downgrade follows Canopy’s disappointing quarterly financials as of late, which […]
Cresco Labs to Sell Illinois Properties in Leaseback Arrangement
Cresco Labs (CSE: CL) announced this morning that it would be entering a sale and leaseback arrangement for two of its properties, following a trend seen as of late within the US cannabis sector as firms search for sources of funding. Cresco will be selling two properties in Illinois, locating in Joliet and Kankakee, to […]
3 Sixty Risk Solutions Announces An Accelerated Path to Profitability – But Is It Enough?
3 Sixty Risk Solutions (CSE: SAFE) announced this morning that it has been successful with its efforts to reduce operating expenses. To date, the firm has reduced its total operational expenses by an annualized $2.4 million, and continues on its path to realize up to $4 million in annualized cost savings. While the firm identified […]