Financial Data and Key Metrics Changes - For Q1 2025, the company generated distributable earnings of $0.21 per basic weighted average share, with net interest income of $4,500,000 and GAAP net income of $4,100,000 or $0.18 per basic weighted average share [10][15] - The weighted average portfolio yield to maturity was approximately 18% as of both March 31, 2025, and May 1, 2025 [16] - 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 [16] Business Line Data and Key Metrics Changes - The active pipeline as of May 1, 2025, had $287,000,000 in deals, with a focus on sourcing deals from operators with a successful track record [7] - The company is currently managing 18 loans with a total principal outstanding of $372,500,000 [15] Market Data and Key Metrics Changes - The cannabis industry is experiencing a supply and demand imbalance for capital, with demand outpacing limited supply due to refinancing activity and increased M&A [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 aims to protect principal in its investments and is focused on selectively providing construction financing to operators with existing operations in other states [7] - The management is committed to supporting strong operators in attractive limited license states and diversifying the portfolio [11] Management's Comments on Operating Environment and Future Outlook - Management noted that earnings will be impacted by the underperformance of some legacy loans, but significant progress has been made in reducing exposure to underperforming credits [10] - The company is being opportunistic in its originations, focusing on high-quality borrowers amid market volatility [22] Other Important Information - 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 [16] - The board is expected to declare a dividend on or about June 15, with a policy of distributing 85% to 100% of earnings over the year [23] Q&A Session Summary Question: What caused the decline in interest income from Q4 to Q1? - The decline was attributed to lower income from a subsidiary of a private company and the absence of dividends from the TRS in Q1 [20][21] Question: How should investors think about progression for distributable earnings? - Management indicated that they will be opportunistic in originations and will not set targets due to market volatility [22][23] Question: What can be assumed regarding inflows from the proceeds of the Georgia asset? - Management stated that they cannot provide guidance on timing or amounts as it is uncertain and out of their control [24][26] Question: Can you provide updates on the situation with Justice Grown? - Management refrained from commenting further due to pending litigation and advised to refer to the 10-Q for details [32][34] Question: Is there an opportunity for private lenders in Pennsylvania's potential state-run framework? - Management noted that the Senate rejected the state-run model proposal, making it unlikely to be an opportunity for the company [36] Question: What is the expected yield on new originations? - Yields have generally remained consistent, with a focus on moving up the quality curve in lending [49]

Core Insights - Blum Holdings, Inc. reported a revenue growth of 26% year-over-year, reaching $2.2 million in Q1 2025, compared to $1.8 million in Q1 2024, driven by strategic divestitures and new retail store additions [1][4] - The company achieved positive EBITDA of $57,000, a significant turnaround from an EBITDA loss of $3.0 million in Q1 2024, indicating improved operational efficiency [1][4] - Net loss from continuing operations was reduced by over 80%, down to $0.6 million from $3.5 million in Q1 2024, reflecting effective cost management and operational improvements [1][4] Financial Performance - Revenue increased to $2.2 million in Q1 2025 from $1.8 million in Q1 2024, marking a 26% increase [4][11] - Gross margin improved to 53%, up from 45% in both Q1 and Q4 2024, attributed to better pricing discipline and product mix [4][11] - Operating expenses decreased to $2.5 million from $4.4 million in Q1 2024, showcasing effective cost containment measures [4][11] - Adjusted EBITDA loss narrowed to $0.4 million, an 87% improvement year-over-year and 80% quarter-over-quarter [4][11] Strategic Developments - The company raised $1.6 million in capital in 2025 at competitive rates, enhancing its financial position [4] - Approval was received from the Bankruptcy Court for a settlement with People's, effective after a 14-day appeal period [4] - Brad Hirsch was appointed to the Board of Directors, enhancing governance and oversight [4] - An amended Letter of Intent (LOI) with a Bay Area dispensary is expected to generate approximately $12 million in annual revenue [4] Management Commentary - The CEO emphasized that the company has achieved breakeven operations on an EBITDA basis and is now strategically positioned for growth [5] - The focus remains on securing capital to strengthen the balance sheet and evaluating strategic acquisition opportunities to drive growth in the California cannabis market [5]

TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company at the forefront of beverage, cannabis and wellness industries, is excited to announce that its wholly-owned subsidiary, High Park Holdings Ltd., is launching XMG Atomic Sours, a new line of cannabis beverages and gummies that redefine the sour experience. XMG Atomic Sours includes two cannabis-infused drinks, Cherry Blasted Lime and Foggy Peaches, and two cannabis- ...

Core Insights - Glass House Brands reported strong financial results for Q1 2025, with consolidated revenue of $44.8 million, a 49% increase year-over-year, and an impressive gross margin of 45% [2][4][6] - The company achieved significant growth in wholesale biomass production, reaching 152,568 pounds, which is a 149% increase compared to the same period last year [3][7] - Retail revenues grew by 19% year-over-year, contrasting with a 13% decline in California's overall retail sales, highlighting the company's strong market position [2][8] Financial Performance - Q1 2025 revenue was $44.8 million, up from $30.1 million in Q1 2024, but down 15% from $53.0 million in Q4 2024 [4][6] - Gross profit for the quarter was $20.1 million, compared to $12.5 million in Q1 2024 and $22.8 million in Q4 2024, with a gross profit margin of 45% [4][9] - Adjusted EBITDA was $4.4 million, a significant improvement from $(1.6) million in Q1 2024, but down from $9.0 million in Q4 2024 [4][15] Production and Cost Efficiency - The cost of production for biomass was $108 per pound, a 41% decrease from $182 per pound in Q1 2024 [3][4] - The company produced nearly 153,000 pounds of wholesale biomass, exceeding guidance and reflecting a strong operational performance [2][5] - The average selling price for wholesale biomass was $193 per pound, down from $282 in Q1 2024 [10] Strategic Initiatives - Glass House is progressing with its Phase III expansion at the SoCal Farm, with initial revenues expected before year-end 2025 and a projected annual capacity of over 1 million pounds of biomass by 2026 [5][11] - The company has secured a new $50 million senior secured credit facility, enhancing its financial flexibility and extending the maturity of its senior secured debt to 2030 [5][11] - A collaboration with the University of California, Berkeley, has been initiated to explore hemp-related research, indicating a strategic move towards diversifying product offerings [5][11] Outlook - For Q2 2025, the company expects revenue between $57 million to $59 million, representing an 8% year-over-year increase and nearly 30% sequential growth from Q1 2025 [18][20] - Full-year 2025 revenue is projected to be between $220 million and $230 million, reflecting a 12% year-over-year increase [22][26] - The anticipated cost of production for 2025 is guided to be $105 per pound, down from $123 per pound in 2024, showcasing ongoing operational efficiencies [24][26]

Core Viewpoint - A class action securities lawsuit has been filed against Canopy Growth Corporation, alleging securities fraud that affected investors between May 30, 2024, and February 6, 2025 [1] Group 1: Lawsuit Details - The lawsuit claims that Canopy Growth Corporation made false statements regarding significant costs incurred during the production of Claybourne pre-rolled joints and the launch of its products in Canada [2] - It is alleged that these costs, along with indirect costs related to Storz & Bickel vaporizer devices, would negatively impact the company's gross margins and overall financial results [2] - The defendants are accused of overstating the effectiveness of Canopy's cost reduction measures and the health of its gross margins while downplaying existing issues [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until June 3, 2025, to request to be appointed as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]

NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- FLUENT Corp. (CSE: FNT.U) (OTCQB: CNTMF) ("FLUENT" or the "Company"), a national cannabis company operating under the FLUENT™ brand, is unveiling New York Minute, a bold new addition to its MOODS vaporizer portfolio. Flavored with Apple Apricot Tsunami botanical terpenes, this sativa-leaning cannabis oil is designed specifically for adult-use consumers in New York, embodying the fast-paced and vibrant spirit of the state with a Big Apple taste. The new offering wil ...

Core Viewpoint - A class action securities lawsuit has been filed against Canopy Growth Corporation, alleging securities fraud that negatively impacted investors between May 30, 2024, and February 6, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Canopy Growth Corporation incurred significant costs related to the production of Claybourne pre-rolled joints, which were not disclosed to investors [2]. - It is alleged that these costs, along with indirect costs from Storz & Bickel vaporizer devices, would significantly harm the company's gross margins and overall financial performance [2]. - The defendants are accused of overstating the effectiveness of Canopy's cost reduction measures and the health of its gross margins while minimizing related issues [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until June 3, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be eligible for compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a history of securing substantial settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

1. Tilray Brands Tilray Brands, a leader in the cannabis industry, recently announced a proposal to execute a reverse stock split. Forward stock splits are usually a sign that a company is performing well. For reverse ones, they often signal a company has performed terribly and now has a share price below $1. That's the case with Tilray. It hopes this move will raise its stock price above $1 and help in its efforts to avoid delisting from the Nasdaq stock exchange. But a reverse split will not change the co ...

Core Viewpoint - Village Farms International, Inc. is undergoing a transformative transaction to privatize certain assets of its Fresh Produce division while focusing on expanding its global cannabis business, which is expected to unlock long-term value for both segments [2][4]. Financial Performance - For Q1 2025, consolidated sales were $77.1 million, a slight decrease from $78.1 million in Q1 2024 [11]. - The consolidated net loss was $6.7 million, compared to a loss of $2.9 million in the previous year [11]. - Adjusted EBITDA was $0.1 million, down from $3.6 million in Q1 2024 [11]. - Cash flow from operations was negative at $6.4 million, compared to a near break-even of $50,000 in Q1 2024 [11]. Cannabis Segment Highlights - Canadian cannabis net income and adjusted EBITDA increased by 258% and 64% year-over-year, respectively [6]. - International medical export cannabis sales surged by 285% year-over-year [6]. - The company commenced cannabis sales in the Netherlands, marking its entry into the European recreational market [6]. Fresh Produce Segment - The company is expected to receive $40 million in cash proceeds and a 37.9% equity ownership interest in Vanguard Food LP upon closing the privatization transaction [3][4]. - The privatization aims to allow the fresh produce business to operate independently with new strategic capital partners [2][4]. Strategic Developments - The completion of a Phase II facility in Groningen, Netherlands, is expected in Q1 2026, which will quintuple annual production capacity for cannabis [4]. - The company has maintained a top market share position in Canada despite a reduction in lower-margin branded sales [4][11]. - A refinancing of Canadian cannabis term loans has been completed, consolidating three loans into one with improved terms [12]. Market Position - Village Farms retains ownership of its Canadian greenhouse assets and Texas-based greenhouse assets for potential future cannabis market opportunities [18]. - The company continues to hold leading cultivars in the German market through third-party distributors [17].

NEW YORK and TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCQB: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the first quarter ended March 31, 2025. The Company’s Quarterly Report on Form 10-Q (the “Quarterly Report”), which includes its unaudited interim condensed consolidated financial statements for the first quarter ended March 31, 2025 ...