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NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF CANNABIS IN FLORIDA Click on Company Logo to be Transferred to Web Site |
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HOUSE OF PLATINUM CANNABIS |
CRESCO LABS REPORTS FIRST QUARTER 2023 RESULTS
Company remains the #1 seller of branded cannabis products
CHICAGO — Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“Cresco Labs” or the “Company”), a vertically integrated, multi-state operator (“MSO”) and the cannabis industry’s No. 1 producer of branded products, today released its financial and operating results for the first quarter ended March 31, 2023. All financial information presented in this release is reported in accordance with U.S. GAAP and in U.S. dollars, unless otherwise indicated, and is available on the Company’s new Investor website, Here.
First Quarter 2023 Financial Highlights
-First quarter revenue of $194 million, down 3% sequentially.
-Branded equivalized unit volume of 17.6 million, up 32% year-over-year1.
-Retail transactions of 1.2 million, a 4% increase year-over-over.
-Adjusted gross profit2 of $89 million, 46% of revenue.
-Adjusted EBITDA2 of $29 million, 15% of revenue.
-First quarter net loss of $28 million.
-Generated positive operating cash flow of $3 million inclusive of making $32 million of tax payments in the quarter.
-Opened eight total Sunnyside stores in Florida and Pennsylvania, bringing the nationwide store count to 63.
-Surpassed $1 billion in online retail sales solely through the Company’s ecommerce platform, Sunnyside.shop.
-Retained the No. 1 share position in Illinois, Pennsylvania and Massachusetts top markets, and a Top 5 share position in Michigan. The Company maintained wholesale leadership with the industry’s No. 1 portfolio of cannabis brands, No. 1 portfolio of branded flower and branded concentrates and the No. 4 portfolio of branded vapes and edibles1.
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VERANO ANNOUNCES THE OPENING OF ZEN LEAF PITTSBURGH MCKNIGHT, THE COMPANY’S 17TH AFFILIATED PENNSYLVANIA DISPENSARY AND 128TH RETAIL LOCATION NATIONWIDE
Zen Leaf Pittsburgh McKnight is the Company’s 17th affiliated dispensary and sixth retail location in the greater Pittsburgh area, joining existing local outlets in Cranberry, Monroeville, New Kensington, Pittsburgh Robinson and Washington
The dispensary is based in Allegheny County, the second largest county in Pennsylvania with a population of over 1.2 million1
Verano’s active operations span 13 states, comprised of 128 dispensaries and 13 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
CHICAGO, May 25, 2023 — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the grand opening of Zen Leaf Pittsburgh McKnight, located at 4778 McKnight Road, on Friday, May 26, following a ceremonial ribbon cutting at 10 a.m. Zen Leaf Pittsburgh McKnight, the Company’s 17th affiliated Pennsylvania dispensary and 128th location nationwide, will be open Monday through Friday from 9 a.m. to 7 p.m., Saturday from 10 a.m. to 7 p.m., and Sunday from 10 a.m. to 4 p.m., local time.
Zen Leaf Pittsburgh McKnight is located in Allegheny County, the second most densely populated county in the Commonwealth. The McKnight location adds another convenient outlet for Pittsburgh area patients, complementing the Company’s existing affiliated Zen Leaf dispensaries in Cranberry, Monroeville, New Kensington, Pittsburgh Robinson and Washington.
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NATIONAL AND INTERNATIONAL NEWS |
SPRINGBIG HOLDINGS, INC. ANNOUNCES PRICING OF $4.0 MILLION PUBLIC OFFERING
BOCA RATON, Fla., May 26, 2023 — SpringBig Holdings, Inc. (“springbig” or the “Company”) (NASDAQ: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today announced the pricing of public offering of 13,061,014 shares of its common stock at an at-the-market price of $0.3037.
The closing of the offering is expected to occur on or about May 31, 2023, subject to the satisfaction of customary closing conditions.
Roth Capital Partners is acting as sole placement agent for the offering.
The gross cash proceeds to the Company from the offering are expected to be approximately $3.0 million, before deducting the placement agent’s fees and other offering expenses payable by springbig. Additionally, approximately $1.0 million of the Company’s existing Senior Secured Convertible Note (the “Note”), held by L1 Capital Global Opportunities (“L1 Capital”) will be cancelled in exchange for shares in the offering at the offering price. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which includes the repayment of $750,000 of principal amount of the Note to L1 Capital upon the closing of the offering.
“We are delighted to have strengthened our balance sheet with this public offering and are appreciative of the willingness of L1 Capital to support the future growth of springbig,” said Paul Sykes, CFO of springbig. “We continue to make significant progress along our path to profitability and now have the capital resources to continue to develop our business.”
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TILRAY ANNOUNCES EUROPEAN MARKET EXPANSION IN ITALY
TILRAY MEDICAL SUPPORTS ONCOWELLNESS, ITALY’S LEADING CANCER RESEARCH AND PATIENT CARE CONFERENCE
MILAN, Italy, May 25, 2023 — Tilray Brands, Inc. (“Tilray” or “the Company”) (Nasdaq: TLRY; TSX: TLRY), a global leader in cannabis research, cultivation, production, and distribution, today announced that its medical cannabis division, Tilray Medical and FL Group, the Company’s subsidiary in Italy, have received authorization from Italy’s Ministry of Health to distribute three new medical cannabis compounds. These medical cannabis compounds will be distributed by FL Group to pharmacies across Italy further broadening its portfolio of pharmaceutical grade cannabis offerings. Tilray also announces a new strategic partnership with Pharmaidea, a Petrone Group company, to market and educate over 12,000 pharmacies across Italy on the benefits of medical cannabis and medical cannabis patient care.
Tilray Medical has an established broad national pharmaceutical distribution network in Italy, where medical cannabis is reimbursed by the healthcare system to eligible patients. Tilray’s new medical cannabis authorizations include three cannabis extracts which through pharmaceutical compounding by pharmacists are made available for patients. Medical doctors may now prescribe Tilray supplied medical cannabis extracts at different concentrations throughout the country.
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VILLAGE FARMS INTERNATIONAL REPORTS FINANCIAL RESULTS FOR FIRST QUARTER 2023-Canadian Cannabis Business Maintains Number Two Market Share Position Nationally, Including Number Two Position in Quebec
-Canadian Cannabis Retail Branded Sales Increase 40% Year-Over-Year, Again Significantly Outpacing Market Growth-Canadian Cannabis Business Added Third Export Market with Launch in Germany-Fresh Produce Business Delivered Third Consecutive Quarter of Significant Improvement
VANCOUVER, British Columbia, May 10, 2023 — Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced its financial results for the first quarter ended March 31, 2023. All figures are in U.S. dollars unless otherwise indicated. Management Commentary
“The first quarter was a solid start to 2023 as continued strong growth in our Canadian Cannabis business and steady sequential performance in our US Cannabis business were complemented by another quarter of significantly improved results in our Fresh Produce business,” said Michael DeGiglio, Chief Executive Officer, Village Farms.
“Our Canadian Cannabis business delivered 40% year-over-year growth in Retail Branded sales for the first quarter, once again significantly outpacing overall market growth, as we maintained our number two market share position nationally and were one of just three of the top 10 producers to expand market share from the same period last year1. Combined with our ongoing focus on production efficiency and cost management, we achieved our 18th consecutive quarter of positive adjusted EBITDA, with a year-over-year increase of 95%.”
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LOWELL FARMS ANNOUNCES SALE LEASEBACK TRANSACTION FOR PROCESSING FACILITY
SALINAS, Calif., May 23, 2023 — Lowell Farms Inc. (“Lowell Farms” or the “Company”) (CSE:LOWL; OTCQX:LOWLF), a leading, vertically-integrated, California-based cannabis company, announces the closing of sale leaseback transaction with New Wilston Associates, LLC (the “Buyer”) pursuant to which Lowell SR LLC, a subsidiary of the Company, has sold its drying and midstream processing facility in Monterey County California (the “Facility”) for aggregate consideration of US$19.4 million, including the Buyer’s assumption of the existing mortgage on the Facility.
Concurrent with the closing of the sale, Lowell SR LLC entered into a 10-year lease agreement with the Buyer for the Facility. The Company will continue its permitted cannabis drying and processing at the Facility, as it has since it acquired the Facility in 2021. The Facility is a 10 acre, approximately 40,000 square feet facility which the Company utilizes for cultivation and processing of the Company’s cultivation and third-party partners. The Company purchased the Facility in June 2021, for an aggregate purchase price of US$19.2 million.
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ATLAS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE A CONTROLLING INTEREST IN THREE PHARMACIES EXPANDING ITS CANNABIS NETWORK IN ISRAEL
-Atlas Global Brands signs definitive agreement to acquire control of three Pharmacies in Israel licensed to sell cannabis products
-The medical cannabis pharmacies are located in three new cities, expanding Atlas’ geographical coverage across the country of Israel
-Inclusive of the previously announced definitive agreements, upon closing of these transactions, Atlas will own a majority interest in nine pharmacies along with a trading house distribution centre in Israel
CHATHAM, ONTARIO and TEL-AVIV, ISRAEL, May 24, 2023 — Atlas Global Brands Inc. (“Atlas Global”, “Atlas” or the “Company”) (CSE: ATL), a cannabis company with expertise across the value chain, announces that on May 23, 2023 it entered into a definitive agreement (“Proposed Transaction”) for the acquisition of 51% of the outstanding securities of three Israeli private limited liability companies operating medical cannabis pharmacies (the “Pharmacies”).
“The addition of these three pharmacies will further expand our geographical coverage with modern designed pharmacies, a patient focused education platform and dispensaries tailored to consistent product assortment,” said Bernie Yeung, CEO of Atlas Global. “We believe that this acquisition will be beneficial to both patients and our shareholders, while continuing to expand our geographical coverage in Israel.”
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LOWELL HERB CO TO UNVEIL ALL-NEW LOWELL INFUSED 35S PRE-ROLL AT BOTTLEROCK NAPA VALLEY FESTIVAL
CALIFORNIA CANNABIS LEADER CONTINUES TO INNOVATE WITH BLEND OF TOP-SHELF FLOWER AND LIVE SIFTED SAUCE FOR A REMARKABLY SMOOTH AND POTENT SMOKE
SALINAS, Calif., May 25, 2023 — Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF), a California-born innovator in cannabis cultivation and maker of the legendary Lowell Smokes brand, will unveil its newest innovation, Lowell Infused 35s pre-rolls, at the 2023 BottleRock Napa Valley festival – being held May 26 through 28 at the Napa Valley Expo. In addition to being made available for purchase via Lowell Farms’ dispensary partner at the festival, fans can indulge further in the Lowell experience at “The Garden,” an exclusive pop-up featuring merchandise, giveaways, and more.
Tailored for a richer, bolder, and more enjoyable smoke, Lowell Infused 35s combines proprietary mixed-light flower with live sifted sauce – with higher levels of terpenes – to ensure a seamless fusion of flavors and aromas in a carefully crafted pre-roll.
“BottleRock will truly offer the ‘first taste of summer’ this year, as it’s the perfect destination to debut what we anticipate will become one of our most popular products,” says Lowell Farms Co-Founder and Chief Executive Officer Mark Ainsworth. “From the careful selection of our premium flower to the preservation of our sauce and our unique infusion process, Lowell Infused 35s is truly the next evolution in potency and pleasure.
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AYURCANN REPORTS RECORD SALES OF $5,893,351 FOR Q3 2023, AN INCREASE OF 114% OVER Q3 2022
Toronto, Ontario, May 29, 2023 — Ayurcann Holdings Corp. (CSE: AYUR, OTCQB: AYURF, FSE: 3ZQ0) (“Ayurcann” or the “Company”), a leading Canadian cannabis company specializing in the processing and manufacturing of cannabis 2.0 and 3.0 products in the recreational market, is pleased to announce its financial and operational results for the three- and nine-months ended March 31, 2023, the highlights of which are included in this news release. All figures are reported in Canadian dollars. The Company’s full set of consolidated interim financial statements for the three- and nine-months ended March 31, 2023 and accompanying management’s discussion and analysis can be accessed by visiting the Company’s website at www.ayurcann.com and its profile page on SEDAR at www.sedar.com.
FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED MARCH 31, 2023
-Gross revenues increased to $5,893,351 for the quarter (compared to $2,757,264 for the same period last year), representing an increase of 114%
-Gross revenues increased to $13,660,561 for the nine-months (compared to $7,834,386 for the same period last year), representing an increase of 74% year-over-year
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SHOPPERS DRUG MART AND AVICANNA EXECUTE DEFINITIVE ASSET PURCHASE AGREEMENT FOR AVICANNA’S ACQUISITION OF THE MEDICAL CANNABIS BY SHOPPERS BUSINESS
TORONTO, May 29, 2023 — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce the execution of the definitive Asset Purchase Agreement (“Agreement”) between Shoppers Drug Mart® (“Shoppers”) and Avicanna for Avicanna’s acquisition of assets of the Medical Cannabis by Shoppers business (“Business”) with a final closing date set for July 31, 2023.
“Since the initial announcement in March 2023, we have worked diligently and collaboratively to develop and execute a seamless process for transitioning patients, and address various patient, product and operations matters through the buildout of MyMedi.ca. We wish to express our thanks to everyone involved, and in particular to the Shoppers Drug Mart team, for getting us to this exciting milestone,” stated Aras Azadian, CEO of Avicanna Inc.
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BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 820,000 AND 568 DISPENSING LOCATIONS |
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 26, 2023 Report BY THE NUMBERS Qualified Patients: (Active ID Card): MAY 26 2023- 820,823 MAY 19 2023- 818,679
MAY 12 2023- 816,944 MAY 05 2023- 814,965 APR 28 2023- 812,944
Patients Last Week: 2,144 Qualified Ordering Physicians: 2,467 New Doctors Last Week: 10 Reporting Period: MAY 19 TO MAY 25 2023
Amount of Medical Marijuana Dispensed - (mgs THC) 319,028,421 Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,560,119 Amount of Marijuana in a From for Smoking (oz) 102,857.854 Approved Dispensing Locations: 568 ADD LAST WEEK +2
AYR CANNABIS - WINTER PARK MUV - ZEPHRHILLS |
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