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Tilray Brands' Stockholders Approve Reverse Stock Split; Company Pauses Implementation as It Evaluates Timing and Stock Price
Globenewswire· 2025-06-10 20:05
Core Viewpoint - Tilray Brands, Inc. announced the approval of a reverse stock split at a ratio of 1-to-10 to 1-to-20, but has paused its implementation to evaluate timing and stock price [1][2]. Financial Structure - In the fiscal quarter ended February 28, 2025, Tilray reduced its total debt by approximately $76 million, resulting in a net debt to trailing twelve-months Adjusted EBITDA of less than 1.0x [3]. - As of the last fiscal quarter, Tilray's cash and marketable securities balance was approximately $250 million, providing financial strength and flexibility for strategic opportunities and acquisitions [3]. Strategic Objectives of Reverse Stock Split - The reverse stock split aims to ensure compliance with Nasdaq listing requirements, align the number of shares with similar companies, attract institutional shareholders, and potentially save up to $1 million annually in costs associated with stockholder meetings [7].
OTC Markets Group Welcomes MTL Cannabis Corp. to OTCQX
Globenewswire· 2025-06-10 11:00
Core Viewpoint - MTL Cannabis Corp. has successfully upgraded to trade on the OTCQX® Best Market, enhancing its visibility and accessibility to U.S. investors [1][4]. Company Overview - MTL Cannabis Corp. is engaged in the cultivation and production of cannabis products for both recreational and medical purposes in Canada [4]. - The company has transitioned from the OTCQB® Venture Market to the OTCQX® Best Market, indicating a significant milestone in its growth strategy [1][3]. Market Context - The OTCQX Market is designed for established, investor-focused companies that meet high financial standards and corporate governance practices [3]. - The upgrade to OTCQX allows MTL Cannabis Corp. to demonstrate its qualifications and build visibility among U.S. investors, which is crucial for expanding its investor base and increasing liquidity [3][4]. Trading Information - MTL Cannabis Corp. began trading on OTCQX under the symbol "MTLNF," with financial disclosures and real-time quotes available for U.S. investors [2].
Dogecoin Cash Inc. (OTCQB: CBDS) Announces Symbol Change to DOGP, Planting Its Flag in the Memeosphere
Globenewswire· 2025-06-10 08:20
Core Insights - Dogecoin Cash Inc. has received approval to change its stock ticker symbol to DOGP, effective June 10, 2025, aligning with its identity and mission in the decentralized meme economy [1][3] - The company operates a telehealth platform, PrestoDoctor, providing HIPAA-compliant cannabis consultations and holds patents for a cannabis strain and lozenge [2][5] - The new ticker reflects a focus on a meme-forward digital ecosystem and follows significant milestones, including the issuance of a preferred stock dividend [3][7] Company Developments - The common shares will begin trading under the new ticker DOGP on the OTCQB Market starting July 10, 2025, with no action required from shareholders [3] - The company remains compliant with SEC reporting requirements and continues to file under the Securities Exchange Act of 1934 [4] - Recent milestones include the acquisition of 1 billion DOG tokens from Tipestry Inc., the launch of Meme Coins Inc., and the issuance of preferred stock as a dividend [7] Industry Positioning - The ticker change signifies a broader trend of publicly traded companies embracing internet-native culture while adhering to financial regulations [4] - Dogecoin Cash Inc. is positioning itself as a bridge between traditional capital markets and the decentralized, meme-driven future of finance [4]
LEEF Brands Announces Successful Completion of Acquisition of its New York License
Globenewswire· 2025-06-09 13:00
Core Insights - LEEF Brands Inc. is expanding nationally by acquiring a Type 1 Cannabis Processor License in New York, marking a significant milestone for the company [2][4] - The New York cannabis market has seen rapid growth, projected to reach $1.5 billion in retail sales in 2025, presenting a substantial opportunity for LEEF to leverage its extraction capabilities [3] Company Developments - The acquisition of the Type 1 Cannabis Processor License allows LEEF to engage in extraction, blending, infusion, packaging, labeling, and branding of its products, positioning it as a multi-state operator [2][3] - LEEF plans to replicate its successful California operations in New York, tailored to meet the specific demands of the local market [3][4] Market Context - The New York cannabis retail market grew from $160 million in 2023 to $1 billion in 2024, indicating a strong upward trend [3] - Concentrates account for approximately 55% of cannabis products sold in New York, highlighting the potential for LEEF's extraction capabilities to support growth in the region [3] Industry Engagement - LEEF will participate in the Benzinga Cannabis Capital Conference in Chicago on June 9-10, 2025, to connect with investors and industry leaders [5][6] - The executive team aims to build partnerships and share the company's growth story at the conference [7]
Village Farms International Regains NASDAQ Compliance
Globenewswire· 2025-06-09 11:00
Core Viewpoint - Village Farms International has regained compliance with Nasdaq's minimum closing bid price requirement, indicating a positive development for the company's stock listing status [1] Company Overview - Village Farms is a large-scale, vertically-integrated supplier of high-value, plant-based Consumer Packaged Goods, leveraging decades of experience in Controlled Environment Agriculture [2] - The company has established itself as a leading fresh produce supplier in the US and Canada, now focusing on high-growth cannabinoid opportunities internationally [2] Cannabis Operations - In Canada, Pure Sunfarms, a wholly owned subsidiary, is one of the largest cannabis operations globally, with 2.2 million square feet of greenhouse production and recognized as a low-cost producer [3] - Village Farms owns an additional 2.6 million square feet of greenhouse capacity in Canada for future expansion and holds an 80% stake in Rose LifeScience, a leader in cannabis product commercialization [3] International Expansion - The company is targeting legal cannabis opportunities internationally, exporting medical cannabis from its EU GMP certified facility in Canada to markets such as Germany, the UK, Israel, Australia, and New Zealand [4] - In Europe, Leli Holland, a wholly-owned subsidiary, holds one of ten licenses to grow and distribute recreational cannabis within the Dutch Coffee Shop Experiment [4] US Market Strategy - In the US, Balanced Health Botanicals, a wholly owned subsidiary, is a leading CBD and hemp-derived brand, with plans to enter the US THC market leveraging its Texas-based greenhouse assets [5] - The company has 2.2 million square feet of existing greenhouse capacity and 950 acres of owned, unoccupied land for future expansion in the US [5] Clean Energy Initiatives - Village Farms Clean Energy, in partnership with Terreva Renewables, generates renewable natural gas from landfill gas, significantly reducing greenhouse gas emissions in Vancouver [6] - This initiative is equivalent to removing over 100,000 vehicles from the road or powering 51,300 homes for a year [6] Joint Ventures - The company holds a 37.9% equity interest in Vanguard Food LP, a joint venture aimed at creating a premier branded CPG foods company through mergers and acquisitions [7] - Vanguard Food LP plans to acquire additional produce assets and operations with the support of private investment partners [7]
AYR Provides Update on Anticipated Cease Trade Order
Globenewswire· 2025-06-06 11:30
MIAMI, June 06, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, today provides an update regarding the status of its securities in connection with its previously announced delay in filing its interim financial statements for the quarter ended March 31, 2025.‎ As disclosed on May 30, 2025, the Company was unable to meet the deadline to file its interim financial report, management’s discussion ...
Vireo Growth Inc. Announces Closing of Proper Brands Acquisition in Missouri
Globenewswire· 2025-06-05 20:30
Core Insights - Vireo Growth Inc. has successfully completed the acquisition of Proper Brands, a significant player in Missouri's recreational cannabis market, through its subsidiaries [1][2] - The total consideration for the acquisition was $102 million, paid in 196.2 million Subordinate Voting Shares at a reference price of $0.52 per share, reflecting a multiple of 4.175x the 2024 "Closing EBITDA" of $31 million [3] Company Overview - Proper Brands, founded in 2022, operates 11 retail dispensaries in Missouri, primarily in the St. Louis area, and has a cultivation and manufacturing facility exceeding 100,000 square feet [2] - The company is implementing the Arches technology platform to enhance its home delivery business [2] Transaction Details - The acquisition includes clawback provisions if the 2026 EBITDA falls below the Closing EBITDA as of December 31, 2026 [3] - The shares issued in the transaction are subject to lock-up provisions, with shares unlocking over a 33-month period [3]
MediPharm Labs Closes $4.5 Million Sale of Hope, BC Facility and Announces Plans to Expand EU GMP Cultivation Capacity at Napanee Facility
Globenewswire· 2025-06-05 11:00
Core Insights - MediPharm Labs Corp. has completed the sale of its Hope Facility for $4.5 million, while expanding its cultivation capacity at the Napanee Facility by approximately 30% in 2025 [1][5] Group 1: Strategic Developments - The sale of the Hope Facility is part of MediPharm's strategy to optimize operations by reducing expenses and monetizing non-core assets [3] - The company has reduced operating expenses by over $40 million annually compared to combined operations with VIVO Cannabis in Q1 2022 [4] Group 2: Financial Position - The transaction significantly improves MediPharm's cash position and provides additional financial flexibility for strategic growth objectives [3] - The expansion at the Napanee Facility aims to meet the increasing international demand for pharmaceutical cannabinoid products, particularly in Europe and Australia [5] Group 3: Company Background - MediPharm Labs specializes in the development and manufacture of pharmaceutical-quality cannabis products and holds a GMP license from Health Canada [6][7] - The acquisition of VIVO Cannabis in 2023 expanded MediPharm's reach to medical patients in Canada, Australia, and Germany [8]
Rubicon Organics Acquires Hope Facility to Accelerate Premium Cannabis Growth Strategy
Globenewswire· 2025-06-05 11:00
Core Insights - Rubicon Organics has successfully acquired a 47,500 sq. ft. indoor cultivation facility in Hope, British Columbia, marking a significant step in its growth strategy to enhance premium and certified organic cannabis production [1][2]. Company Overview - Rubicon Organics is a Canadian leader in premium, certified organic cannabis, operating a vertically integrated model with a strong national distribution network [4]. - The company is known for its high-performing brands, including Simply Bare Organic, 1964 Supply Co., Wildflower, and Homestead Cannabis Supply [4]. Acquisition Details - The Hope Facility is designed to increase production capacity by over 40%, adding an estimated annual production capacity of up to 4,500 kgs, which will bring the total annual production capacity to 15,500 kg [2][5]. - The facility is equipped with advanced cultivation technology, supporting the company's strategy to expand its premium product offerings and meet rising demand [2]. Future Production Plans - The company anticipates that all cultivation rooms will be planted by the end of 2025, with full production capacity expected to be reached by the end of 2026 [3]. - Initial operating startup costs for 2025 are projected to be just over $3 million, with revenue contributions expected in the first half of 2026 [3]. Market Position and Financial Health - Rubicon Organics is well-capitalized following a recent financing of $4.5 million, positioning the company for continued revenue and Adjusted EBITDA expansion [6]. - The company has demonstrated consistent annual revenue growth and positive Adjusted EBITDA, driven by its focus on premium quality, innovation, and operational execution [6]. Strategic Vision - The acquisition of the Hope Facility is seen as a transformative step in scaling Rubicon's premium cannabis platform, enabling further innovation, product development, and international expansion [2][5]. - The company aims to reinforce its leadership in the premium segment while addressing the growing consumer demand for high-quality cannabis [6][7].
Jushi Holdings Inc. Announces Voting Results of Annual Shareholders’ Meeting
Globenewswire· 2025-06-03 20:06
BOCA RATON, Fla., June 03, 2025 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Corporation”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced the voting results of the annual general meeting (the “Meeting”) of shareholders of the Corporation (“Shareholders”) that was held today as follows: 1.Fixing the Number of Directors The number of directors of the Corporation was set at five. ForAgainstBroker Non-Votes 84,212,913 (98.595%)1,199,686 (1.405%) ...