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]

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]