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Cannara Biotech to Host Investor Webcast on June 25th, 2025
GlobeNewswire· 2025-06-19 12:00
Core Points - Cannara Biotech Inc. is hosting a webcast investor presentation on June 25, 2025, at 2:00 PM ET, led by CFO Nicholas Sosiak [1] - The presentation will cover key areas of Cannara's business, followed by an interactive Q&A session for investors [1] - An archived version of the webcast will be available on the company's website [1] Company Overview - Cannara Biotech Inc. is a vertically integrated producer of affordable premium-grade cannabis and cannabis-derivative products for the Canadian markets [2] - The company operates two mega facilities in Québec, covering over 1,650,000 sq. ft., with a potential annualized cultivation output of 100,000 kg [2] - Cannara leverages Québec's low electricity costs to produce premium-grade cannabis products at competitive prices [2]
Auxly Announces Non-Binding Agreement to Amend and Extend BMO Credit Facility and Settlement of all Amounts owing to Imperial Brands
Prnewswire· 2025-06-19 11:30
Core Viewpoint - Auxly Cannabis Group Inc. has entered into two significant agreements aimed at strengthening its balance sheet, reducing debt, and supporting long-term growth [1][2] Group 1: Financial Transactions - The company has amended its credit facility, which will enhance liquidity and provide flexibility for capital allocation towards strategic growth initiatives [1][3] - The settlement of the Imperial Brands convertible debenture through equity issuance will eliminate over $21 million of debt from the balance sheet, improving capital structure and reducing interest obligations [1][2][5] Group 2: Credit Facility Details - The amended credit facility will consist of a total of $50.7 million, including a term loan of $36.2 million and a revolving facility of $10 million for working capital [6] - The term of the facility is two years with an option to extend for an additional year, and it will be secured by substantially all assets of the company and its subsidiaries [6] Group 3: Imperial Brands Settlement - The exchange agreement with Imperial Brands will convert approximately $1 million principal and $1.39 million of accrued interest into shares, resulting in Imperial owning approximately 19.9% of the company post-settlement [8][15] - The total consideration for the shares and warrants issued to Imperial Brands is approximately $9.8 million, reflecting the settlement of the indebtedness owed under the debenture [15]
FLUENT Corp Announces results of Annual General and Special Meeting of Shareholders
Globenewswire· 2025-06-18 20:30
Company Overview - FLUENT Corp. is a national cannabis consumer packaged goods company and retailer, committed to operational excellence in cultivation, production, distribution, and retail experience [1] - The company operates under the FLUENT™ brand and produces a diverse portfolio of cannabis products, including brands such as MOODS, Knack, Wandr, Bag-O, and Hyer Kind [1] - FLUENT operates in Florida, New York, Pennsylvania, and Texas, with its headquarters in Tampa, Florida [1] - The company employs 700 individuals across 8 cultivation and manufacturing facilities and has 42 active retail locations [1] Shareholder Meeting Results - The annual general and special meeting of shareholders resulted in the approval of all matters presented [1] - Key approvals included the election of seven directors: Robert Beasley, Roger Daher, Mark Eckenrode, Christopher Hagedorn, Richard Mavrinac, William Smith, and Dawn Sweeney [6] - PKF O'Connor Davies LLP was appointed as the auditor of the company [6] - The Hawthorne Collective, Inc. was approved as a new "Control Person" of the company [6]
X @Investopedia
Investopedia· 2025-06-18 19:30
Market Performance - Aurora Cannabis shares experienced a decline [1] - The company anticipates "temporary declines" in its international markets, including the U S [1]
Cannara Reduces Cost of Debt with Lower Interest Rate and Partial Debenture Repayment; Wins 2025 Brand of the Year
Globenewswire· 2025-06-18 12:00
Core Insights - Cannara Biotech Inc. has been recognized with two awards at the 2025 Grow Up Awards Gala, including Brand of the Year for its Tribal brand and Accessory of the Year for its Nugz Happle product, highlighting its commitment to product excellence and innovation in the Canadian cannabis industry [1][2][3] Financial Management - The company has made a $1 million repayment against its Olymbec convertible debenture, which was originally issued on June 21, 2021, reflecting a disciplined approach to capital management and a commitment to reducing leverage while maintaining financial flexibility [4] - Cannara has achieved a total reduction of 50 basis points in the interest rate spread on its BMO Credit Facility, resulting in an overall cost of debt now below 6%, underscoring its strong financial performance and disciplined capital structure management [6] Industry Recognition - The Grow Up Conference and Expo is recognized as one of Canada's leading industry events, with the Grow Up Awards being one of the industry's highest honors, selected through open voting by industry participants and the public [3]
Herbal Dispatch Announces Results of 2024 and 2025 Annual General and Special Shareholder Meeting
Thenewswire· 2025-06-17 21:25
Group 1 - Herbal Dispatch Inc. announced the successful passing of all resolutions at its 2024 and 2025 Annual General and Special Meetings of Shareholders held on June 17, 2025 [1][2] - Shareholders voted to set the number of directors at 3, electing Philip Campbell, Drew Malcolm, and Herb Dhaliwal as directors [2] - Kingston Ross Pasnak LLP was appointed as the Company's auditor for the upcoming year, and the Amended & Restated Stock Option Plan and Restricted Share Unit Plan were approved [2] Group 2 - The Company sought dis-interested shareholder approval for two ordinary resolutions regarding amendments to Unsecured Convertible Debentures [3][4] - The first resolution ratified the third amendment to the 0971289 Unsecured Convertible Debenture, excluding votes from certain related parties, and received majority approval [4] - The second resolution ratified the first amendment to the Herb Dhaliwal Unsecured Convertible Debenture, also excluding votes from related parties, and obtained majority approval [4][5] Group 3 - The amendments to the Unsecured Convertible Debentures are classified as "related party transactions" under Multilateral Instrument 61-101, and the Company is relying on exemptions from formal valuation requirements [5] - The Company did not file a material change report more than 21 days prior to the effective date of these transactions, as they required ratification by dis-interested shareholder approval [6] Group 4 - Herbal Dispatch Inc. operates leading cannabis e-commerce platforms, focusing on providing high-quality cannabis products at affordable prices [7] - The flagship marketplace, herbaldispatch.com, offers exclusive access to small-batch craft cannabis flower and a variety of other product formats [7]
MediPharm Announces Voting Results from the 2025 Annual and Special Meeting of Shareholders
Globenewswire· 2025-06-17 14:27
Core Points - MediPharm Labs Corp. held its annual and special meeting where key resolutions were voted on by shareholders [1][2] - A total of 210,726,733 common shares were represented, accounting for 50.76% of the total issued shares [2] - The meeting resulted in the approval of several resolutions including the number of directors, appointment of auditors, election of directors, and unallocated awards under the equity incentive plan [3] Voting Results - The resolution to fix the number of directors at seven was approved with 75.46% voting in favor [5] - All management director nominees were elected with Chris Halyk receiving 144,007,422 votes and Emily Jameson receiving 144,289,930 votes [6] - MNP LLP was appointed as the auditor with 90.78% of votes in favor [7] - The resolution for unallocated awards under the equity incentive plan was narrowly approved with 50.14% voting for and 49.86% against [8] Board Changes - New directors Emily Jameson and John Medland were welcomed to the Board, while Michael Bumby did not stand for re-election [4] Company Overview - MediPharm Labs specializes in the development and manufacture of pharmaceutical-quality cannabis concentrates and advanced derivative products [9] - The company received a Pharmaceutical Drug Establishment License from Health Canada in 2021, making it the only North American company with a commercial-scale GMP license for cannabinoid extraction [10] - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada, Australia, and Germany [11]
Vireo Growth Inc. Provides Corporate Update Post Closing of All Merger Transactions
Globenewswire· 2025-06-17 11:00
Core Insights - Vireo Growth Inc. has completed a series of merger agreements, positioning itself as one of the largest multi-state cannabis operators in the U.S. with operations in six states [1] - The company anticipates pro forma revenue for Q2 2025 to be between $88 million and $91 million, with adjusted EBITDA expected to be in the range of $23 million to $24 million [2] - Vireo's management believes that its improved profitability will facilitate more favorable terms for refinancing its outstanding debt obligations, with expectations of a cash position exceeding $100 million post-refinancing [3] - Following the mergers, Vireo has approximately 949 million basic shares outstanding and about 1.087 billion shares on a fully-diluted basis [4] Financial Performance - Pro forma revenue for Q2 2025 is projected to be between $88 million and $91 million, while adjusted EBITDA is expected to range from $23 million to $24 million [2] - The company is currently unable to estimate net income due to uncertainties related to non-cash expenses and accounting adjustments [2] Debt Refinancing - Vireo is engaged in discussions to refinance its outstanding senior secured debt under more favorable terms, including debt from recent merger transactions [3] - The company has signed multiple non-binding term sheets and expects the refinancing event to close quickly, resulting in a cash position of over $100 million [3] Share Structure - The company has reported 949,254,483 basic shares outstanding on an as-converted basis and 1,087,283,616 shares on a fully-diluted basis following the merger transactions [4]
1 Beaten-Down Stock Down 99% That's Still Not Worth Buying
The Motley Fool· 2025-06-14 20:15
Core Viewpoint - Canopy Growth has significantly underperformed in the cannabis industry, losing 99% of its value over the past five years, with shares trading under $2, making it unattractive for investment [1][11]. Financial Performance - Canopy Growth reported a net revenue of 65 million Canadian dollars for Q4 of fiscal year 2025, down 11% year-over-year, despite a 4% increase in cannabis revenue in Canada [6]. - The company remains deeply unprofitable, with a net loss per share of CA$1.43, worsening from a CA$1.03 loss per share in the previous year [7]. Market Challenges - The cannabis market is heavily regulated, leading to stiff competition and oversupply issues, particularly in Canada and the U.S., where cannabis remains illegal at the federal level [4][10]. - Canopy Growth's international operations, including its subsidiary Storz & Bickel, have not mitigated the negative impact on overall performance [2][6]. Management Outlook - Management has attempted to present a positive outlook by highlighting a 49% reduction in total debt during fiscal year 2025 and aims to achieve positive adjusted EBITDA in the "near term" [8][9]. - Despite potential long-term opportunities in the U.S. cannabis market, the vague nature of management's goals raises skepticism about the company's future profitability [8][9]. Investment Sentiment - The current lack of revenue growth and the uncertain regulatory environment in the U.S. contribute to the view that Canopy Growth is not an attractive investment option [10][11].
Red White & Bloom Brands Provides Update on Status of Annual Filings
Globenewswire· 2025-06-13 22:00
Core Viewpoint - Red White & Bloom Brands Inc. is currently under a management cease trade order (MCTO) due to delays in filing its financial statements for the fiscal year ended December 31, 2024, and is providing updates on the status of this order [1][2]. Group 1: Management Cease Trade Order (MCTO) - The MCTO was granted on May 1, 2025, by the British Columbia Securities Commission under National Policy 12-203 [1][2]. - The company is required to issue bi-weekly default status reports while remaining in default of the Annual Filings requirement [5]. Group 2: Financial Filings Update - The audit for the Annual Filings is ongoing, with an expected update on the timing around June 23, 2025, if the filings are not completed by then [3]. - The company is also working on its interim financial statements for the first quarter ended March 31, 2025, which will be filed within five business days after the Annual Filings are completed [3]. Group 3: Trading Status - During the MCTO, the general investing public can continue to trade the company's common shares, but the company's CEO, president, and CFO are prohibited from trading [4]. Group 4: Company Overview - Red White & Bloom Brands Inc. operates as a multi-jurisdictional cannabis operator, focusing on major U.S. markets such as California, Florida, Missouri, Michigan, and Ohio, as well as Canadian and international markets [6].