Hexo Corp Sees Zenabis Subsidiary File For CCAA Protection Due To Sundial Growers Debt
If you thought Hexo Corp (TSX: HEXO) was a mess before, buckle up as it appears things are about to get a whole lot worse. Zenabis Global, the Canadian cannabis operator that Hexo acquired just thirteen months ago, has evidently filed for protection under the Companies Creditors Arrangement Act, or the CCAA as it is […]
Chevron, Exxon Clapback Biden’s Oil Plea: Look At Your Refinery Policies
After US President Joe Biden sent out a letter to the country’s major oil producers demanding to increase production, Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM) joined in the blame game, pointing the finger back at the administration and its oil refinery policies. In an interview with Bloomberg TV, Chevron CEO Mike […]
Hexo Corp: Canaccord Cuts Target To $0.25 After Guidance Withdrawal
Earlier this week Hexo Corp (TSX: HEXO) reported its fiscal third-quarter ending April 30th. The company saw its revenues decrease on a quarterly basis to $45.57 million, down from $52.76 million last quarter. It reported a cost of goods sold of $55.18 million, putting its gross profits before fair value adjustments to ($9.6) million. This […]
GREENHORNS: BHP Bilks Feds For $100 Million Under Carbon Guise
BHP Group (NYSE: BHP), formerly BHP Billiton, is the world’s largest extractive company. Its very large, very successful global footprint includes interests in petroleum, coal (both metallurgical and energy), nickel, copper, iron ore, and uranium. It does business in the very epicenter of the industry that is going to be the most affected by climate […]
Tether Calls Rumors False, Aims to Decrease Commercial Paper Backing To Zero
In a statement released on Wednesday morning, Tether called rumors about its commercial paper backing “completely false,” and said these stories were spread around to “induce further panic in order to generate additional profits from an already stressed market.” The rumors allege that Tether’s commercial paper portfolio is 85% backed by unsecured, short-term debt issued […]
Three Arrows Capital: Is The Crypto-Based Hedge Fund Headed Towards Insolvency?
The cryptosphere can’t seem to catch a break. This week, Singapore-based Three Arrows Capital or 3AC has reportedly been liquidated by its lenders and may be facing insolvency. In a report by The Block that cites “well-placed sources,” 3AC “is in the process of figuring out how to repay lenders and other counter-parties after it […]
White House: Oil Companies Have A “Patriotic Duty” To Increase Production
The White House continues to go after oil refineries, pointing out that they a patriotic duty to stop “taking advantage of the war,” as profits continue to rise with the prices. US President Joe Biden earlier wrote to seven large integrated refinery operators and called their profits “not acceptable” and threatened to use emergency powers […]
Swarmio Poised To Reduce Gaming Lag By 80% With Newly-Launched Gamer Network Solution
In what could be a monumental stride in the gaming community, Swarmio Media (CSE: SWRM) announces the launch of its subscription-based gamer network solution, Lagless. Latency in gaming, often referred to as ‘lag’, is a common problem for users who like their games streaming without interruptions. Using Swarmio’s Latency-optimized Edge Computing infrastructure and further intelligent network […]
#CryptoLeaks Isn’t Happening, But Not Without Its “Hacker” Leaving An Eerie Farewell
Trigger warning: suicide Remember the Twitter account @adyingnobody who promised to leak a massive 137-gigabyte worth of Telegram chats around alleged malicious activities involving crypto personalities? Well, on the eve of their supposed first wave of leaks, they made a self-transfer of Ethereum with an eerie farewell note announcing that the leak was a hoax. […]
Biden Demands More Oil Production, Records Already Show Increasing Local Supply
From banning oil production to demanding more oil production; from releasing strategic reserves to forming European cartels–US President Joe Biden’s policy on addressing the consistently rising oil prices seems to be more on throwing everything to see what would stick. Demanding production boost, records show increasing output Now, the White House circled back to its […]