Tetra Bio-Pharma Subsidiary Conducts Financing for Hemp Energy Drink
Tetra Bio-Pharma (TSXV: TBP) announced this morning that a subsidiary of the firm has obtained financing for its Hemp Energy Drink. The financing comes in the form of a convertible debenture to the tune of $3,000,000, which will enable the subsidiary to purchase the full rights to the drink formulation. With the financing being conducted […]
Management Exodus Continues At Sunniva
Sunniva Inc (CSE: SNN) announced this morning that President Kevin Wilkerson has resigned from his role effective December 2, 2019. The resignation was stated to be for personal reasons. Wilkerson will also be resigning from his role of Chief Executive Officer of Sun CA Holdings, the US subsidiary of Sunniva. The resignation of Wilkerson follows […]
Canopy’s Quarter in Charts
Whenever there’s a negative margin, those of us in the financial content biz like to divide the expense line items by the revenue to create headlines, so let’s just all get it out of our system: Canopy spent $60.4 million on sales and marketing last quarter, 78.8% of their revenue Canopy’s General and Administrative expense […]
Illustrated: Cannabis Earnings Week for the Third Quarter of 2019
This past week, as many are aware, was the week of cannabis earnings season. The week saw many majors of the sector report earnings, including Canopy Growth Corp (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB), Tilray (NASDAQ: TLRY), Cronos Group (TSX: CRON) (NASDAQ: CRON) and Sundial Growers (NASDAQ: SNDL) among many others. […]
Hexo Corp Admits to Growing Cannabis in Unlicensed Space Due to Confusion
Hexo Corp (TSX: HEXO) this evening announced that it had previously been growing cannabis in unlicensed space at what was once a Newstrike Brands facility. The firm blamed the illegal cultivation on confusion related to what areas were specifically licensed by Health Canada. Upon the discovery in July, two months after the close of the […]
Medmen Announces Layoffs, Divestment of Assets, Focus on SG&A Reduction
Medmen Enterprises (CSE: MMEN) will be the next cannabis firm to conduct layoffs in the sector, with over 190 employees expected to be let go. The lay offs are part of an effort for the firm to reign in its selling, general, and administrative expenses to under $85 million per year. Last year, Medmen spent […]
Nemaska Facility Shutdowns To Be Completed By Years End
Nemaska Lithium (TSX: NMX) announced this morning that shutdowns will be completed shortly at its Whabouchi mine project. The shutdowns are required as a result of Nemaska failing to obtain additional financing in a timely manner. While Nemaska continues to work with Pallinghurst Group towards achieving the previously announced $600 million financing, no investment has […]
Sugarbud to Conduct Rights Offering, Private Placement
SugarBud Craft Growers Corp (TSXV: SUGR) is the latest public licensed producer to scramble for cash as the equity markets dry up. This morning the firm concurrently announced a private placement and a rights offering in an effort to collect enough cash to finish its phase 1a construction plans. The private placement is expected to […]
Aurora Offers Early Conversion of $230 Million in Debt at Significantly Reduced Price
Aurora Cannabis (TSX: ACB) (NYSE: ACB) announced this evening that it will be conducting a “temporary amended early conversion privilege” related to $230 million worth of convertible debentures coming due in March 2020. In layman terms, it means that the firm has offered a revised conversion price for the converts that are coming due as […]
TGOD, Revenue Decreases, Liquidity Issues Loom, Black Thursday Continues
This evening The Green Organic Dutchman (TSE: TGOD) released quarterly earnings and they weren’t much of a surprise. The company burned through an additional $47M in operating and investing cashflow and saw a large increase in their payables. We broke down the quarter-over-quarter numbers here: Q3’19 Q2’19 % change Revenue $ 2.62 $ 2.90 […]