Auxly Cannabis Files Notice of Foreclosure On Curative Cannabis, Begins Motions to Obtains Assets
The first notable bankruptcy in the cannabis sector appears to have taken place. On September 12, Auxly Cannabis (TSXV: XLY) filed an application with the Superior Court of Ontario to secure the assets of 2368523 Ontario Limited, who has been doing business as Curative Cannabis. Curative is deliquent on secured debts owed to Auxly, and […]
Valens GroWorks Obtains Sales License
Valens GroWorks (TSXV: VGW) announced this morning that it has received a sales license from Health Canada, allowing it to sell its oil products directly to provincial distributors and regulators. Previously, Valens was only authorized for business to business sales. The additional license removes a major roadblock for the extraction firm. Previously, Valens would have […]
Motley Fool Call’s WeedMD Already Profitable
This morning I stumbled across a piece on Yahoo! Finance that was authored by Motley Fool, titled: “Cannabis Investors: 2 Companies That Have Already Reached Profitability.” The essence of the article was “they have a positive EPS.” For astute cannabis investors, we know that accounting profit (net income/loss) isn’t exactly meaningful at this stage of […]
DionyMed Brands To Be Taken To Court By Flow Capital
The bad news just keeps coming for DionyMed Brands (CSE: DYME). Following the announcement earlier this week that it had attempted to restructure its debt, it seems that certain creditors were not satisfied with the result. Flow Capital Corp (TSXV: FW) last night announced that it has commenced legal proceedings against the firm. The legal […]
How Invoice Financing and Invoice Factoring Can Alleviate Cannabis Cultivators’ Cash Crunch
All companies live and die by cash flow. Companies that have managed to attract loyal customers and sell their products at a profit can still face collapse if the pace at which they collect cash does not out pace the outflows required to maintain their operations. When you are running a new company, you’ll often […]
Harvest Health Director, President Resign – Is Linton On The Way In?
Harvest Health & Recreation (CSE: HARV) announced late Friday night the resignation of two key members of their team. Director Frank Bedu-Addo and President Steve Gutterman have left their positions at the firm effective immediately. While Bedu-Addo has left the firm to focus on other business endeavors, Gutterman has left for personal reasons – both […]
Supreme Prints Q4 Revenue of $19 Million, Adjusts EBITDA to Make It Look Like They’re Making Money
The Supreme Cannabis Co. (TSX:FIRE) made good on last month’s projection that they would do $19 million in sales in the quarter ending June. FIRE hit the number on the mark. Having grown their SG&A expenses only slightly since the last period, there’s a case to be made that Supreme has successfully scaled, but they […]
Origin House Secures Additional Short Term Loan
Origin House (CSE: OH) announced this morning that it had secured an additional short term loan from Opaskwayak Cree Nation, an Aboriginal band based in Northern Manitoba. The band had originally provided short term financing for Origin House back in July following the termination of a financing by Sprott Inc. The additional funding, which amounts […]
Delta 9 Cannabis to Step Into Alberta Retail
Delta 9 Cannabis (TSX: DN) announced late this evening that it would be expanding its retail cannabis operation. The firm entered a binding letter of intent with Modern Leaf Group to acquire two proposed retail locations in the Province of Alberta. The announcement from Delta 9 means that they are now expanding beyond the borders […]
CannTrust Loses European Partner STENOCARE
Another blow has come to CannTrust today when they found out Danish partner STENOCARE has terminated their license agreement with the Canadian LP. This was expected, after CannTrust had their sales license suspended earlier in the week. In a company press release, STENOCARE stated: On September 17th, 2019, it was announced that Health Canada had […]