Hexo Announces Financing With Zero Set Terms
Hexo Corp (TSX: HEXO) (NYSE: HEXO) needs money in a bad way. The problem, it seems, is they don’t even know how much they’ll be able to raise given the performance of the equity as of late. The company announced this morning that it has proposed a public offering of units, however Canaccord Genuity, the […]
Trulieve Reports Fourth Quarter Revenues Of $US79.7 Million
Trulieve Cannabis (CSE: TRUL) reported its fourth quarter and full fiscal year 2019 financial results this morning, posting revenues of US$79.7 million for the quarter, an increase of 13% on a quarter over quarter basis, while posting a net income of $45.5 million. Notably, the company changed certin terminology on its income statement from “cost […]
iMproper cApitalization: An Illustrated Look at iAnthus Capital
We’d like to start this look at iAnthus Capital Holdings (CSE: IAN) with a moment of silence for the lede that was buried at the bottom of yesterday’s epic, four page press release without ceremony: iAnthus has delayed the filing of their year end and Q4 financial statements, previously scheduled for release yesterday, April 6th, […]
Green Growth Issued Notice Of Default On Moxie Debt
It appears that the entirety of Green Growth Brands (CSE: GGB) might come crashing down after all, and not just its CBD operation. This morning the company quietly announced that it had received a notice of default from MXY Holdings. The notice of default is related to a US$5.0 million note issued by MXY last […]
CloudMD Sees Increasing Demand For Telemedicine Offering
CloudMD Software & Services (CSE: DOC) announced this morning that its telemedicine platform has seen excellent growth as of late, with its offering now having over 100,000 registered users. The users are split between its flagship CloudMD app as well as its MyHealthAccess telemedicine offerings. In terms of the CloudMD app, the program is nearing […]
Organigram Lays Off 400 Employees Due To COVID-19
Organigram Holdings (TSX: OGI) (NASDAQ: OGI) has laid off 45% of its workforce which represents approximately 400 employees across all areas of its operation as a result of the ongoing COVID-19 pandemic. The layoffs, which began close to two weeks ago on March 24, is said to consist of a majority of voluntary layoffs, Certain […]
Broad Markets: Start Asking The Right Questions.
We’re beginning to regret having equipped The Dive’s custom apocalypse bunker in an undisclosed location with a phone, because the damned thing continues to ring with people asking if we think the bottom is in. That usually means it isn’t and, in this case, it feels like the violence of the initial move (and the […]
Tinley Beverage Co Signs California Distribution Agreement
The Tinley Beverage Co (CSE: TNY) announced significant news this morning, indicating that the company has signed a distribution agreement for its cannabis-infused beverages. Under an exclusive agreement, Shelf Life Distributing will distribute Tinley’s infused products across the State of California as sales continue to rise for smokeless cannabis options. The agreement entered between the […]
iAnthus Capital Defaults On Debt, Investigates Claims Against CEO
iAnthus Capital Holdings (CSE: IAN) has defaulted on its debt load. The company announced this morning that it has failed to make a required interest payment to holders of its 13% senior secured convertible debentures and 13% unsecured convertible debentures which were both due March 31, 2020. Despite attempting to negotiate the payments with current […]
Goldman Sachs Sees High Yield Debt Default Rate Soaring to 13%; Fed to Buy upto $1.2T of Corporate Debt
In a note to clients, Goldman Sachs said their baseline scenario for high-yield debt sees the 12-month trailing default rate soaring to 13% in 2020 and $555 billion worth of investment-grade bonds to be downgraded into junk status. In a podcast interview, former Goldman Sachs hedge fund manager Raoul Pal warned us this will be […]