Medmen Posts Revenues of $43.9 Million, Net Loss of $82.6 Million For First Quarter
Medmen Enterprises (CSE: MMEN) filed its first quarter 2020 financials these evening, revealing revenues of US$43.9 million for the period ended September 28, 2019, short of analyst estimates of $47.7 million for the quarter. Net loss for the quarter came in at $82.6 million. Medmen posted a gross profit of $21.8 million before the impact […]
Market Movers: Tetra Bio-Pharma
Cannabis adjacent pharma-co Tetra Bio-Pharma (TSXV: TBP) was the most active symbol on the TSX.V yesterday by volume, and #2 in gains, moving up $0.045 to close at $0.245 on 6 million shares. TBP got lost in the shuffle with most of the canna-pharma stocks during the melt-up, investors focusing on cultivators and various other […]
Auxly Potentially Hours Away From Securing Curative Cannabis Assets
Auxly Cannabis (TSXV: XLY) is potentially only moments away from finally securing the assets of Curative Cannabis, barring any unexpected further developments. The firm began the process in September to secure the assets of Curative following the firms inability to pay secured debts that had come due. A final hearing tomorrow is expected to result […]
MYM Nutraceuticals Terminates LOI To Acquire Crop Corp
Crop Infrastructure Corp (CSE: CROP) and MYM Nutraceuticals (CSE: MYM) have ended their short lived proposed arrangement, with MYM announcing this morning that it has terminated the previously announced non-binding letter of intent. No justification for the cancellation of the proposed arrangement was provided. The two firms had previously announced on November 7 that MYM […]
Village Farms Takes Majority Stake in Pure Sunfarms Venture
Village Farms (TSX: VFF) (NASDAQ: VFF) announced this morning that its equity increase in Pure Sunfarms has been accepted by the joint venture, despite previous claims made by Emerald Health Therapeutics (TSXV: EMH). The ongoing saga between the two partners will see Village Farms take a larger share in the previously equally owned joint venture. […]
WeedMD Announces Management Team for CX Industries
WeedMD Inc (TSX: WMD) this morning announced that it has implemented a management team at its wholly-owned extraction subsidiary CX Industries. Tricia Symmes has been named as General Manager for the subsidiary, while Logan Marynissen will be serving as the Director of Extraction. Both new hires are highly experienced in their fields. Tricia Symmes most […]
TGOD Walks Away from US$30 Million Financing, Announces C$22 Million Bought Deal Financing
The Green Organic Dutchman (TSX: TGOD) announced this morning that the firm will be conducting a $22.0 financing through the public markets at a discount to the previous days close. The financing is being conducted on a bought deal basis by a syndicate of underwriters lead by Canaccord Genuity. The financing, to be conducted at […]
Cresco Labs Terminates Acquisition of VidaCann
Cresco Labs (CSE: CL) announced this morning that it is terminating its previously announced acquisition of VidaCann Ltd. The firms justification, in short, is that they simply don’t have the funds available to close the transaction, or to operate the resulting entity as the firm continues to face capital restrictions. Concurrent with the announcement of […]
48North Posts Revenues of $1.4 Million, Yields 120 KG of Cannabis Per Acre
48North Cannabis Corp (TSXV: NRTH) reported its first quarter fiscal 2020 financials this evening, posting net revenues of $1.45 million, a 14% increase from the previous years figures, and a significant increase from last quarters revenues of $0.48 million. Net income for the quarter was positive, at $2.2 million, compared to a loss of $1.0 […]
Kirkland Lake Stock Tumbles After Detour Gold Acquisition Announcement
Kirkland Lake Gold (TSX: KL) shares fell sharply today after announcing a proposed all stock transaction for the acquisition of Detour Gold (TSX: DGC). The proposed transaction was announced this morning, with Kirkland proposing to pay 0.4343 shares per Detour Gold share. The markets reacted rather negatively to the announcement, with Kirkland shares trading down […]