TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB) (“RWB” or the “Company”) is providing this update on the status of a management cease trade order granted on May 1, 2025 (the "MCTO") by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203"). On May 1, 2025, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying manag ...

Financial Data and Key Metrics Changes - Total net sales for Q2 fiscal 2025 were $4.7 million, representing an 8.6% increase year-over-year but a 7.9% decrease from Q1 [14] - Gross profit margin remained healthy at 62% for Q2 fiscal 2025, despite increased warehouse rent and one-time CAM costs [15] - SG&A expenses decreased to $3.5 million in Q2 fiscal 2025 from $4.1 million in the prior year, primarily due to reductions in payroll and professional fees [15][16] - The net loss for Q2 fiscal 2025 was $480,000, significantly improved from a loss of $3 million in the same quarter of the previous year [16] Business Line Data and Key Metrics Changes - E-commerce direct-to-consumer sales were flat year-over-year at $3.6 million, accounting for 77% of total net sales, down from 83% in the prior year [14] - Wholesale revenue increased by 22% to $1.1 million in Q2 fiscal 2025 compared to $750,000 in the same quarter of the previous year [15] Market Data and Key Metrics Changes - The THC seltzer category is experiencing significant growth, with sales projected to exceed $4 billion by 2028, driven by a shift in consumer preferences towards functional social alternatives [11] Company Strategy and Development Direction - The company aims to drive revenue growth and achieve profitability while resolving its capital structure and regaining compliance with NYSE American listing standards [5] - The successful conversion of Series A preferred stock into common stock and the reverse stock split are seen as major milestones that simplify the capital structure and eliminate legacy obligations [6][7] - The company is focused on three revenue growth priorities: enhancing the direct-to-consumer business, expanding the wholesale business, and scaling the Herbal Oasis brand [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to regulatory changes and emphasized the importance of regulatory clarity for the long-term success of the THC seltzer category [12] - The company is committed to delivering profitable growth in 2025 and is evaluating strategic opportunities for mergers and acquisitions [19][20] Other Important Information - The company reported cash and cash equivalents of approximately $1.7 million and a working capital deficit of $3.7 million as of March 31, 2025 [17] - The company invested approximately $400,000 in inventory during the quarter to bolster key SKUs and support the rollout of the Herbal Oasis brand [18] Q&A Session Summary Question: Update on Herbal Oasis brand expansion - Management indicated that discussions with distributors began in December, with shipments starting in March and April, and further expansion into Charlotte announced in May [25][30] Question: Expectations for Herbal Oasis as a growth driver - Management expects to see contributions from the Herbal Oasis brand toward the end of 2025, with potential for material impact on top-line revenue [30] Question: Impact of preferred to common stock conversion on strategy - The conversion enhances financial flexibility and positions the company to maintain its NYSE listing, allowing for strategic investments and M&A opportunities [31][33] Question: Working capital and cash burn outlook - Management remains comfortable with the liquidity outlook through the end of fiscal 2026, despite recent cash burn trends [39][40] Question: Types of strategic activities being considered - Management is looking for opportunities that provide cost synergies and customer overlap, both within and outside the cannabinoid space [42][44]

Financial Data and Key Metrics Changes - Total net sales for Q2 2025 were $4.7 million, representing an 8.6% increase year-over-year but a 7.9% decrease from Q1 2025 [13] - Gross profit margin remained healthy at 62% for Q2 2025, despite increased warehouse rent and one-time CAM costs [14] - SG&A expenses decreased to $3.5 million in Q2 2025 from $4.1 million in the prior year, primarily due to reductions in payroll and professional fees [15] - The net loss for Q2 2025 was approximately $480,000, significantly improved from a loss of $3 million in Q2 2024 [15] Business Line Data and Key Metrics Changes - E-commerce direct-to-consumer sales were flat year-over-year at $3.6 million, accounting for 77% of total net sales in Q2 2025, down from 83% in the prior year [13] - Wholesale revenue increased by 22% to $1.1 million in Q2 2025 compared to $750,000 in Q2 2024 [14] - The company is focusing on three revenue growth priorities: enhancing direct-to-consumer business, expanding wholesale, and scaling the Herbal Oasis brand [8][10] Market Data and Key Metrics Changes - The THC seltzer category is experiencing significant growth, with sales projected to exceed $4 billion by 2028 [10] - The company is tracking active legislation in over 23 states, which is crucial for the long-term success of the THC seltzer category [11] Company Strategy and Development Direction - The company aims to drive revenue growth and achieve profitability while resolving its capital structure [5] - The successful conversion of Series A preferred stock and the reverse stock split are seen as major milestones for long-term positioning [6] - The company is exploring strategic opportunities, including M&A, to expand into new categories and customer segments [19][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to regulatory changes and emphasized a commitment to profitable growth in 2025 [19][21] - The company believes it is in a stronger position than many public peers, with no debt and a low cash burn rate [21] - Management is optimistic about the potential contributions from the Herbal Oasis brand in the latter half of 2025 [30] Other Important Information - The company has approximately $1.7 million in cash and cash equivalents, with a working capital deficit of $3.7 million as of March 31, 2025 [16] - The capital restructuring has simplified the capital structure, making the stock more investable and increasing interest from potential investors [20] Q&A Session Summary Question: Expansion plans for Herbal Oasis brand - Management indicated that discussions with distributors began in December, and shipments have started, with expectations for growth contributions by the end of 2025 [25][30] Question: Impact of preferred to common equity conversion on strategy - The conversion enhances financial flexibility and positions the company to maintain its NYSE listing, allowing for potential strategic investments [31][33] Question: Working capital situation and cash burn outlook - Management remains comfortable with the liquidity outlook through the end of fiscal 2026, aiming for improved cash generation [39][40] Question: Types of strategic activities being considered - The company is looking for opportunities that provide cost synergies and customer overlap, both within and outside the cannabinoid space [42][44] Question: Financial performance metrics for Herbal Oasis - Revenue impact from Herbal Oasis was minimal in Q2 but is expected to pick up in Q3, with a focus on volume contribution [45]

Core Insights - cbdMD, Inc. reported continued revenue growth and a trend towards profitability in the second fiscal quarter of 2025, with a revenue increase to $4.8 million from $4.3 million year-over-year [2][3] - The company successfully completed a capital structure reset through the conversion of Series A Preferred Stock, adding nearly $7 million to its equity base and achieving compliance with NYSE American listing standards [3][4] Financial Performance - Revenue for the second quarter reached $4.8 million, reflecting an increase of 11.6% compared to the prior year [2] - Operating loss narrowed significantly from $1.5 million to $0.48 million, indicating improved expense management and early success from growth initiatives [2][4] - Gross margin improved from 59% to 62% year-over-year during the second quarter [8] - Net loss attributable to common shareholders decreased to approximately $1.48 million, or $1.90 per share, compared to a net loss of approximately $4.0 million, or $10.84 per share, in the prior year [8][18] Capital Structure and Compliance - The Series A Preferred conversion on May 7, 2025, eliminated $6.7 million in accrued dividend liability and added equivalent equity value, positioning the company with a clean balance sheet and zero debt [3][4] - The company executed an 8:1 reverse stock split, resulting in approximately 8.9 million common shares outstanding as of May 15, 2025 [8] Strategic Developments - The Herbal Oasis beverage brand expanded distribution into Alabama, Florida, and North Carolina, tapping into a rapidly growing wellness category [4] - All four flavors of Herbal Oasis received medals at the 2025 High Spirits Awards, enhancing the brand's reputation and consumer appeal [4] Shareholder Engagement - The company prioritized preparations for its annual shareholder meeting and secured approval for the Series A Preferred conversion, which was critical for compliance with NYSE American standards [3][4]

Core Insights - TILT Holdings Inc. is undergoing a transformation to become a streamlined, asset-light business focused on its Jupiter subsidiary, which is expected to drive sustainable growth and improve margins [2][3]. Financial Summary - Revenue for Q1 2025 was $22.7 million, a decrease from $37.5 million in the prior year period, primarily due to challenges in the Jupiter Hardware business [6]. - Gross profit was $3.4 million with a gross margin of 14.9%, down from $6.7 million and 17.9% in the previous year [6]. - The net loss for the quarter was $13.2 million, compared to a net loss of $9.7 million in the same period last year [6]. - Adjusted EBITDA was $(974) thousand, a decline from $38 thousand in the prior year [6]. - Cash flow from operating activities improved to $1.9 million from a cash used of $2.4 million in the previous year [6]. Operational Highlights - The company announced a definitive agreement to sell two Massachusetts dispensaries for $2 million, which is part of its strategy to divest plant-touching assets [6]. - TILT achieved its first EU medical device certification for its QMID handheld liquid vaporizer, enhancing its product portfolio and market potential [6][7]. - Production for Jupiter is being shifted to Indonesia to reduce tariffs and trade-related costs [7]. Strategic Focus - The CEO emphasized the importance of simplifying operations and focusing on the Jupiter brand to enhance access to capital and market expansion [2][3]. - The company is committed to technology development and product diversification to meet customer needs [3].

Core Viewpoint - Rubicon Organics Inc. has appointed Glen Ibbott as Interim Chief Financial Officer, succeeding Janis Risbin, who will transition to an advisory role [1][2][3] Group 1: Leadership Changes - Glen Ibbott, a veteran in the cannabis industry and former CFO of Aurora Cannabis, brings over 25 years of leadership experience to Rubicon Organics [3][4] - Janis Risbin will step away from her full-time role but will assist in the transition to ensure continuity [2][4] Group 2: Strategic Importance - Ibbott's expertise is deemed crucial as Rubicon Organics aims to scale new capacity and explore new markets for its premium cannabis brands [3][4] - The company is positioned to capitalize on increasing demand for its premium cannabis products, with new capacity expected to come online this year [4] Group 3: Company Overview - Rubicon Organics is a global leader in premium organic cannabis products, focusing on profitability through its flagship brands, including Simply Bare™ Organic and 1964 Supply Co™ [6][7] - The company operates a state-of-the-art facility in Delta, BC, ensuring quality through its vertically integrated supply chain [7] Group 4: Future Plans - A comprehensive search for a permanent CFO will be initiated, focusing on candidates with deep financial expertise and a strong understanding of the cannabis industry [5]

Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - City View Green Holdings Inc. (CSE: CVGR) (OTC Pink: CVGRF) (FSE: CVY) (the "Company" or "City View") is pleased to announce the execution of a definitive arrangement agreement (the "Arrangement Agreement") with City View's subsidiary, 2590672 Ontario Inc. ("259 OnCo") in respect of the spin-out of its cannabis assets (the "Assets"), to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the "Arrange ...

Core Viewpoint - A class action lawsuit has been filed against Canopy Growth Corporation for allegedly misleading investors regarding its cost reduction measures and financial performance during a specified period [1][2]. Allegations - The lawsuit claims that Canopy Growth Corporation failed to disclose significant costs associated with the production of Claybourne pre-rolled joints and indirect costs related to Storz & Bickel vaporizer devices, which negatively impacted the company's gross margins and overall financial results [2]. - It is alleged that the company overstated the effectiveness of its cost reduction measures while downplaying issues related to its gross margins [2]. Financial Impact - On February 7, 2025, Canopy announced disappointing financial results attributed to the costs from the Claybourne product launch and increased indirect costs, leading to a 27.24% drop in share price, closing at $2.02 [3]. Class Action Participation - Shareholders may be eligible to participate in the class action against Canopy Growth Corporation, with a deadline for lead plaintiff applications set for June 3, 2025 [4]. Company Background - Robbins LLP is noted as a leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

Core Insights - Planet 13 Holdings Inc. reported financial results for Q1 2025, highlighting a revenue increase of 22.5% year-over-year, driven by the addition of Florida operations [5][6][8] - The company faced challenges including pricing pressure and reduced consumer spending, but maintained a focus on operational efficiency and strategic investments [2][3] Financial Highlights - Q1 2025 revenue reached $28.0 million, up from $22.9 million in Q1 2024 [5][6] - Gross profit was $12.0 million, representing a gross margin of 42.8%, down from 45.8% in the previous year [6][8] - Total expenses increased by 31.6% to $18.6 million, attributed to the expansion into Florida [6][8] - The net loss for Q1 2025 was $2.0 million, a significant improvement from a net loss of $5.9 million in Q1 2024 [5][6][8] - Adjusted EBITDA loss was $2.5 million, compared to a break-even result in the same quarter last year [5][6][8] Balance Sheet Overview - Cash decreased to $15.6 million from $23.4 million at the end of 2024 [6][8] - Total assets were $203.8 million, slightly down from $206.7 million [6][8] - Total liabilities decreased marginally to $93.1 million from $94.0 million [6][8] Recent Developments - The company opened multiple new dispensaries in Florida, including locations in Port Richey, Orange Park, and Edgewater [12] - A significant recovery of funds related to El Capitan was announced, indicating positive developments in legal matters [12]

Financial Data and Key Metrics Changes - For Q1 2025, the company generated distributable earnings of $0.21 per basic weighted average share of common stock, with net interest income of $4,500,000 and GAAP net income of $4,100,000, or $0.18 per share [9][13] - The weighted average portfolio yield to maturity was approximately 18% as of both March 31, 2025, and May 1, 2025 [14] - The CECL reserve was $29,900,000, approximately 9.75% of loans at carrying value, with total unrealized losses of $20,400,000 for loans held at fair value [14] Business Line Data and Key Metrics Changes - The company ended Q1 2025 with $366,300,000 of principal outstanding across 17 loans, which increased to $372,500,000 across 18 loans by May 1, 2025 [13] - The active pipeline as of May 1, 2025, included $287,000,000 of deals, with a focus on sourcing deals from operators with a successful track record [7][14] Market Data and Key Metrics Changes - The cannabis industry continues to experience a supply and demand imbalance for capital, with demand outpacing limited supply due to refinancing activity and increased M&A expected in the second half of the year [6] - Many capital market participants remain on the sidelines due to a lack of clarity around federal reform, impacting the availability of capital in the industry [6] Company Strategy and Development Direction - The company is focused on protecting principal in its investments and is selective in its originations, prioritizing high-quality borrowers and proven operators [7][19] - The company aims to unlock value from underperforming loans while evaluating new lending opportunities [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the volatility in the cannabis market and uncertainty surrounding federal progress will influence their opportunistic approach to originations [19] - The board is expected to declare dividends on or about June 15, with a policy of distributing 85% to 100% of earnings over the year [20] Other Important Information - The company is engaged in legal proceedings related to a subsidiary, Justice Grown, and is focused on protecting shareholder capital amid ongoing litigation [12][30] - The company renewed its senior secured credit facility with a lead commitment from an FDIC insured bank, with a maturity date of April 29, 2028 [14] Q&A Session Summary Question: Can you unpack the decline in interest income from Q4 to Q1? - The decline was primarily due to lower income from a subsidiary and the absence of dividends from the TRS in Q1 [16][17] Question: How should we think about distributable earnings progression for the rest of the year? - Management indicated that they will be opportunistic in originations and will not set targets due to market volatility [19][20] Question: What can be assumed regarding inflows from the proceeds of the Georgia asset sale? - Management stated that they cannot provide guidance on timing or amounts due to the receiver's control over the process [21][23] Question: Is there an opportunity for private lenders in Pennsylvania's potential state-run framework? - Management noted that the Senate has rejected the state-run model, making it unlikely to be an opportunity for the company [34][35] Question: Are borrowers feeling the impact of tariffs on their costs? - Management indicated that the cannabis industry is likely to see minimal impact from tariffs, as many materials are sourced domestically [40][42]