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Wana Brands Brings Hemp-Derived THC Edibles to Texas
Prnewswireยท 2025-03-17 14:00
Core Insights - Wana Brands has launched its hemp-derived Delta-9 THC gummies in Texas, marking the 22nd state for product availability, emphasizing the company's commitment to safe and reliable cannabis products [1][2] - The expansion into Texas aligns with the evolving cannabis landscape in the state, allowing Wana to meet consumer demand through strategic retail placements [2] - Wana Brands prioritizes quality and safety, with all products undergoing rigorous third-party testing for potency, purity, and contaminants [3] Company Strategy - The expansion beyond the Wanderous marketplace is a key growth strategy for Wana, aiming to capture market share by increasing product accessibility at local retail locations [4] - Wana's mission focuses on enhancing lives through plant-powered products and providing consumers with the education needed for informed choices [4] Company Background - Wana is recognized as North America's most trusted edibles brand, with a presence in multiple U.S. states, Puerto Rico, and Canada, founded in 2010 [5] - Canopy USA, the parent company of Wana, holds a non-controlling interest in Canopy Growth and is strategically positioned in high-potential segments of the U.S. cannabis market [6]
Wana Brands Brings THC-Infused Sparkling Hemp Beverages to Total Wine & More Stores Nationwide
Prnewswireยท 2025-03-12 13:01
Core Insights - Wana Brands has expanded its distribution by partnering with Total Wine & More, making its hemp-infused beverages available nationwide, reflecting the growing consumer demand for health-conscious, zero-proof alcohol alternatives [1][4] Company Overview - Wana Brands is recognized as North America's leading edibles provider, founded in 2010, with a mission to enhance lives through innovative cannabis products backed by research and lab testing [6] - Canopy USA, a holding company with a non-controlling interest from Canopy Growth, owns Wana Brands and is strategically positioned in high-potential segments of the U.S. cannabis market [7] Product Offerings - Wana Beverages include a line of ready-to-drink sparkling beverages infused with hemp extracts and real fruit juice, available in 12 oz cans with three flavor and effect combinations: - Wana Lemonade Balance Blend: 5mg CBG, 5mg CBD, 5mg THC [3][8] - Wana Strawberry Lemonade Balance Blend: 10mg CBG, 10mg CBD, 10mg THC [8] - Wana Raspberry Tea Relax Blend: 5mg CBG, 5mg CBD, 5mg THC [8] Market Trends - The demand for alcohol alternatives is at an all-time high, and the partnership with Total Wine & More aims to reach a new segment of cannabis-curious consumers [4]
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Canopy Growth Corporation - CGC
Prnewswireยท 2025-03-03 18:09
Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices by Canopy Growth Corporation and its officers or directors [1] Financial Performance - On February 7, 2025, Canopy Growth Corporation reported its financial results for Q3 of fiscal year 2025, showing year-over-year declines in both net revenue and gross margin, leading to a wider-than-expected net loss for the quarter [2] - Following the financial report, Canopy's stock price dropped by $0.76 per share, or 27.34%, closing at $2.02 per share on the same day [2]
Canopy Growth's stock falls to all-time low on pot company's share-sale plans
MarketWatchยท 2025-03-03 17:18
Core Viewpoint - Canopy Growth Corp.'s stock experienced a significant decline of 9%, reaching an all-time low, following the announcement of a plan to sell up to $200 million of its stock [1] Group 1: Stock Performance - The stock of Canopy Growth Corp. fell by 9% [1] - This decline resulted in the stock reaching an all-time low [1] Group 2: Stock Offering Details - The company plans to sell up to $200 million of its stock [1] - This stock offering would nearly double the dollar amount of its stock currently trading on the Nasdaq and the Toronto Stock Exchange, given the company's market capitalization of approximately $240 million [1]
Canopy Growth Establishes New US$200 Million At-The-Market Program
Prnewswireยท 2025-02-28 22:18
Core Viewpoint - Canopy Growth Corporation has launched a new at-the-market equity program allowing the issuance and sale of up to US$200 million of common shares to support corporate purposes, including debt repayment and strategic acquisitions [1][2]. Group 1: ATM Program Details - The ATM Program enables Canopy Growth to issue and sell common shares in public offerings in the U.S. and Canada, with sales conducted at prevailing market prices [1]. - The program will remain effective until the earlier of the sale of all shares, regulatory notice of cessation of effectiveness, or July 5, 2026, unless terminated earlier [3]. - The offering is qualified by a prospectus supplement filed with Canadian and U.S. securities regulators [4]. Group 2: Use of Proceeds - Net proceeds from the ATM Program will be utilized for investments in businesses, potential acquisitions, working capital, and general corporate purposes, including a US$100 million optional prepayment under the existing credit agreement [2]. Group 3: Company Overview - Canopy Growth is a leading cannabis company focused on improving lives through cannabis products, with operations in Canada, Germany, Poland, and Australia [6][7]. - The company has established a comprehensive ecosystem to capitalize on the U.S. THC market through non-controlling interests in Canopy USA, which includes ownership stakes in Acreage Holdings and Wana Brands [8].
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Canopy Growth Corporation. - CGC
Prnewswireยท 2025-02-18 23:22
Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices involving Canopy Growth Corporation and its officers or directors [1] Financial Performance - On February 7, 2025, Canopy Growth Corporation reported its financial results for the third quarter of fiscal year 2025, showing year-over-year declines in both net revenue and gross margin, leading to a wider-than-expected net loss for the quarter [2] - Following the financial report, Canopy's stock price dropped by $0.76 per share, or 27.34%, closing at $2.02 per share on the same day [2]
Canadian Gold Corp. Tartan Mine: Western Expansion Drilling Intersects More High-Grade of 11.6 gpt Gold Over 5.1 Metres & 7.1 gpt Over 6.0 Metres
Newsfileยท 2025-02-18 13:00
Core Viewpoint - Canadian Gold Corp. has reported significant high-grade gold drill results from its ongoing Phase 4 drill program at the Tartan Mine, indicating strong continuity of mineralization and enhancing the deposit's viability for future mining operations [1][4]. Drilling Results - The Phase 4 drill program has successfully intersected high-grade mineralization, with 90% of the 29 holes drilled yielding potentially economic results within the Main Zone [1][4]. - Notable drill results include Hole TLMZ21-03W3, which returned 11.6 grams per tonne (gpt) gold over 5.1 metres, and Hole TLMZ21-03W2, which returned 7.1 gpt gold over 6.0 metres [5][6]. Mineral Resource Estimate - The ongoing drilling will contribute to an updated mineral resource estimate, with over 23,000 metres drilled since the last estimate in 2017, expanding the vertical extent of gold mineralization by approximately 79%, from 575 metres to 1,030 metres below surface [3][10]. Future Exploration Potential - There remains significant potential for further expansion of high-grade mineralization along both the western and eastern flanks of the Main Zone, with additional drilling planned to maximize gold ounces before the updated resource estimate and mine economics study [5][6]. Company Overview - Canadian Gold Corp. is focused on expanding the high-grade gold resource at the Tartan Mine, which has a 2017 indicated mineral resource estimate of 240,000 ounces of gold at a grade of 6.32 gpt [10]. The company also holds exploration properties in Ontario and Quebec adjacent to major gold mines [10].
Canadian Gold Corp. Announces Tartan Mine Delivers Rich Results
Newsfileยท 2025-02-10 12:30
Core Viewpoint - Canadian Gold Corp. is experiencing positive results from ongoing exploration at the Tartan Mine Gold Project, indicating significant resource expansion and a deeper understanding of the geological potential of the site [1][2]. Exploration Results - The Phase 4 drill program has successfully targeted a large undrilled area of the Main Zone and has continued to build gold ounces along the western flank, with assays pending for deeper portions that show promise [2]. - The company has completed over 23,000 metres of drilling since the last resource estimate in 2017, expanding the vertical extent of gold mineralization by approximately 79%, from 575 metres to 1,030 metres below surface [4]. Drill Highlights - Drill hole TLMZ21-11W1 intersected a high-grade area, returning 19.4 grams per tonne (gpt) gold over 4.5 metres within a wider interval of 7.4 gpt gold over 13.5 metres, targeting a gap in the Main Zone [4][5]. - Drill hole TLMZ21-04W3 returned 8.0 gpt gold over 5.2 metres, including 12.5 gpt gold over 2.55 metres, expanding the width of the Main Zone by approximately 90% over a 50-metre stretch [4][5]. Future Plans - Additional drilling is planned to further explore the western limits of the Main Zone and to conduct deeper tests of the South Zone, aimed at maximizing potential gold ounces before updating the mineral resource estimate and mine economics study [4][2]. Company Background - Canadian Gold Corp. is focused on expanding the high-grade gold resource at the Tartan Mine, which has a 2017 indicated mineral resource estimate of 240,000 ounces of gold at 6.32 g/t and an inferred estimate of 37,000 ounces at 4.89 g/t [9]. - The company also holds exploration properties in Ontario and Quebec, adjacent to major gold mines and development projects [10].
Canopy Growth(CGC) - 2025 Q3 - Earnings Call Transcript
2025-02-07 17:30
Financial Data and Key Metrics Changes - Canopy Growth reported consolidated net revenue of CAD75 million in Q3, a decrease of 5% year-over-year, but an increase of 8% when excluding divested businesses [29] - Consolidated gross margin in Q3 was 32%, down from 36% a year ago, but within the target range [29] - Adjusted EBITDA loss was CAD3 million, an improvement of 61% compared to the previous year [30] - Free cash flow outflow was CAD28 million, improving by 17% compared to Q3 of fiscal '24 [40] Business Line Data and Key Metrics Changes - Canadian medical cannabis revenue was CAD41 million, up 1% year-over-year, with a 16% increase in medical revenue [31] - Adult use business revenue decreased by 10% year-over-year but increased by 15% quarter-over-quarter, driven by new product launches [32] - International cannabis net revenue was CAD12 million, up 14% year-over-year, with significant growth in Poland and Germany [34] Market Data and Key Metrics Changes - European business, particularly in Poland and Germany, saw over 70% growth, while the Australian market faced increased competition [52][54] - International markets' cannabis gross margin was 41%, up 100 basis points from the previous year, driven by higher sales in Poland [37] Company Strategy and Development Direction - The company aims to drive towards sustained profitability and positive cash generation, focusing on key areas of improvement [15][16] - Canopy is enhancing its medical cannabis business and expanding its adult use market share through innovative product launches and improved distribution strategies [20][45] - Canopy USA is positioned to capitalize on its ecosystem of brands and operations, with a focus on integration and cost synergies [23][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in the cannabis sector, including regulatory hurdles and competition, but remains optimistic about growth opportunities [14][15] - The focus is on improving cash flow and profitability, with expectations for positive adjusted EBITDA in the coming quarters [47] Other Important Information - The company has CAD178 million in cash and short-term investments and a total principal debt balance of CAD460 million [42] - Canopy is leveraging its GMP-certified facility in Canada to support international market growth [56] Q&A Session Summary Question: Plans for international growth and asset-light model - Management highlighted strong performance in European markets, particularly Poland and Germany, and emphasized the benefits of an asset-light model for capturing market share [50][52] Question: Management and strategy philosophy changes - The new CEO expressed early impressions of the company's talent and processes, indicating a thorough analysis of current strategies [59][60] Question: Free cash flow and ATM program - Management noted significant progress in cash flow improvement and plans for continued focus on reducing leverage while reinvesting in growth opportunities [63][67] Question: Insights on the Polish market - The Polish market is experiencing strong demand exceeding supply, with the company holding a leadership position due to consistent quality and supply [70][71] Question: Involvement of Constellation Brands - Constellation Brands remains a passive shareholder, with a focus on investment rather than operational involvement [80]
Canopy Growth stock tumbles as quarterly loss exceeds estimates
Proactiveinvestors NAยท 2025-02-07 14:29
About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...