2019 Cannabis Business Award's Publication of the Year |
WEDNESDAY, MARCH 20, 2024 |
FMCPG HAS BEEN SERVING AND REPRESENTING THE CANNABIS PHYSICIAN COMMUNITY SINCE 2020 |
REGISTER FOR NEXT MEETING WEDNESDAY, MARCH 27, 2024 AT 6:30PM THE "FLORIDA MEDICAL CANNABIS
PHYSICIAN GROUP" (FMCPG) FOR ALL "MEDICAL MARIJUANA DOCTORS"
AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED "2024/25 LEGISLATIVE PRIORITIES"
FOR PRESENTATION IN TALLAHASSEE AND
SUMMARY AND UPDATE FROM MEETINGS WITH LEGISLATORS IN TALLAHASSEE FOR 2024 UPDATE ON THE HEMP BILL UPDATES ON RFE REQUESTS PROTECTING YOUR MEDICAL CANNABIS PRACTICE
QUESTIONS FROM PHYSICIANS HOW TO BEST ANSWER YOUR PATIENT QUESTIONS |
MEDICAL CANNABIS PHYSICIAN
PROMOTION PACKAGE BY CANNABIS NEWS FLORIDA ARTICLE: Physician will contribute an article of 350 words**. This article will appear in the Cannabis News Florida e-newsletter for one month (4 weeks).
E-MAIL BLAST: Cannabis News Florida will send out one e-mail blast promoting the Physician to the other physicians in three zip code areas or one city to be determined by the Physician. The Physician will supply the information for the email blast. The Article above can be used in the e-mail blast.
The cost of this program is ONLY $500.
**Cannabis News Florida will assign a writer for a telephone interview with the Physician and create the article to be published. Physician shall have the right to review and approve the article before publication for an additional cost of $100.
IF YOU ARE INTERESTED, PLEASE EMAIL ME AT CHARLES@CANNABISNEWSFLORIDA.COM OR CALL MY CELL AT 954-605-4785 |
NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF
MMTC'S IN FLORIDA
Click on Company Logo to be Transferred to Web Site |
THE CANNABIST COMPANY ANNOUNCES INTENT TO COMPLETE US$25.75 MILLION PRIVATE PLACEMENT OFFERING OF 9% SENIOR SECURED CONVERTIBLE DEBENTURES DUE 2027
US$6.25 Million of total will be issued in exchange for existing 6% Senior Secured Convertible Notes Due 2025
NEW YORK–Mar. 15, 2024– The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”) announced today that it intends to complete a private placement of up to US$19.5 million (the “Offering”) aggregate principal amount of 9.00% senior secured convertible debentures due 2027 (the “Notes”). The Company has received binding commitments for US$17.5 million and may enter into additional commitments for US$2.0 million of Notes prior to closing.
In addition, in accordance with the terms of a previously executed agreement, as amended, the Company also intends to issue US$6.25 million of Notes in exchange for the cancellation of previously issued 6% senior secured convertible notes due 2025 held by certain offshore institutional investors.
READ MORE |
THE CANNABIST COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS
Mar. 13, 2024– The Cannabist Company Holdings Inc. (NEO: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the largest and most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., today reported its financial and operating results for the fourth quarter and full year ended December 31, 2023. All financial information presented in this release is in U.S. GAAP and in thousands of U.S. dollars, unless otherwise noted.
Both Adj. Gross Profit and Adj. EBITDA exclude $0.1 million in Q4 2023, $13.1 million in Q3 2023, and $5.6 million in Q4 2022; see the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 for additional disclosure.
“In 2023, we successfully produced topline revenue of $511 million, consistent with the prior year, and implemented significant cost reduction programs that resulted in Adjusted EBITDA and net loss improvements over 2022. In addition, we further improved our capital structure through the retirement of $30.6 million of debt in the fourth quarter. It is a credit to the Cannabist team to have achieved these accomplishments during a year when we unwound the prior merger agreement,” said David Hart, CEO of The Cannabist Company.
He continued, “We began 2024 with renewed focus as The Cannabist Company. We are committed to continuously improving our operations and leveraging the investments that we have made in cultivation and manufacturing facilities by shifting the wholesale mix toward finished goods and engaging in strategic partnerships. We will continue to optimize our retail footprint and capitalize on the significant growth opportunities to come from markets transitioning to adult use. We remain committed to achieving long-term, sustainable margin improvement and cash flow generation, and we are intently focused on driving shareholder value over the mid-term. I am proud of our team’s incredible resilience and the inspiring passion for our business that will enable us to seize on the opportunities before us.”
READ MORE |
AYR WELLNESS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS
FY 2023 Revenue up 10% to $463.6 Million, Excluding Discontinued Operations
FY 2023 GAAP Loss from Operations Improved to $37.2 Million, Excluding Discontinued Operations
FY 2023 Adjusted EBITDA1 up 51% to $114.0 Million, with Adjusted EBITDA Margin of 25%
Completed Plan of Arrangement Transactions, Including Extending the Maturity of all of its Senior Notes and Certain Other Debt by Two Years, in February 2024
LINK TO ARTICLE: AYR Wellness Reports Fourth Quarter and Full Year 2023 Results :: Ayr Wellness Inc. (AYR.A)
MIAMI, March 13, 2024 — AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, is reporting financial results for the fourth quarter and full year ended December 31, 2023. Unless otherwise noted, all results are presented in U.S. dollars.
David Goubert, President & CEO of AYR, said, “2023 was a transformational year for AYR as we executed on our financial and operational goals — growing revenue, enhancing profitability, and strengthening our balance sheet. We grew revenue 10%, grew Adjusted EBITDA by 51%, expanded Adjusted EBITDA margins to 25%, and generated positive cash flow from operations for 2023. Additionally, in February 2024, we completed the deferral or retirement of nearly $400 million of debt maturities and now have a clear financial runway to focus on our optimization efforts as we look to capitalize on multiple industry catalysts ahead.
READ MORE |
CURALEAF TO ACQUIRE NORTHERN GREEN CANADA TO BOLSTER EUROPEAN FLOWER SUPPLY
Deal Provides Curaleaf Strategic Supply Chain Advantage in Key Growth Markets of Germany, Poland, U.K. and Establishes Presence in Australia and New Zealand
NEW YORK, March 19, 2024 — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer cannabis products, today announced it has signed a deal to acquire Northern Green Canada (“NGC”), a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international market through its EU-GMP certification. NGC also partners with Canadian GACP cultivators to produce and distribute finished cannabis products to both the domestic and global markets.
NGC is one of the few Canadian cultivators with EU-GMP certification. As such, NGC has consistently supplied high THC, non-irradiated flower to the German market, which is expected to see exponential growth following the recent removal of cannabis from the narcotics list. NGC is also increasingly supplying Australia and New Zealand, the world’s fastest-growing cannabis markets.
READ MORE |
CRESCO LABS REPORTS FOURTH QUARTER & FULL YEAR 2023 FINANCIAL RESULTS DEMONSTRATING SIGNIFICANT PROFITABILITY AND CASH FLOW IMPROVEMENTS
Continued execution of Year-of-the-Core strategy delivers strong gains to the bottom line and 3x improvement in full-year Operating Cash Flow
CHICAGO— Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“Cresco Labs” or the “Company”), the industry leader in branded cannabis products with a portfolio of America’s most popular brands and the operator of Sunnyside dispensaries, today released its financial and operating results for the fourth quarter and year ended December 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 investor website, Here.
Fourth Quarter 2023 Highlights
Fourth quarter revenue of $188 million, excluding the impact from strategic divestitures aimed to drive profitability, down 2% year-over-year. Gross profit of $96 million. Adjusted gross profit1 up 12% year-over-year to $100 million, or 53% of revenue, an 850 bps improvement. SG&A of $57 million. Removed $54 million in annualized Adjusted SG&A1, reducing Adjusted SG&A1 by 20% year-over-year to $55 million, or 29% of revenue.
Fourth quarter net income of $5 million. Fourth quarter adjusted EBITDA1 nearly doubled year-over-year to $55 million, or 29% of revenue, a 1,400 bps improvement. Retained the No. 1 share position in Illinois, Pennsylvania and Massachusetts2.
READ MORE |
FLUENT PRIORITIZES REINVESTMENT INTO FLORIDA-BASED CULTIVATION FACILITIES WITH MULTIPLE RENOVATIONS AND EXPANSIONS
COMMENCEMENT OF TWO NEW CULTIVATION FACILITIES IN RUSKIN AND TAMPA BRING EXCITING CANNABIS EMPLOYMENT OPPORTUNITIES TO FLORIDA
TAMPA, Fla., March 13, 2024 — Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated, multi-state cannabis company operating under the FLUENT™ brand, today announced the commencement of a new cultivation facility, known as the “Rosa Facility” in Tampa, Florida and commencement of cultivation activities at its new facility in Ruskin, bringing a slew of employment opportunities to both Florida cities.
“To keep up with today’s vertical medical marijuana market in Florida, it’s imperative for companies to reinvest into their ecosystem when they can to stay in balance,” said Robert Beasley, CEO of FLUENT. “Our individual store sales continue to increase, and we intend to continue to add additional stores each quarter. This boost in sales demand dictates the need for increased production output to stay in balance and support growth.”
READ MORE |
VERANO ANNOUNCES REVISED FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS
Record Revenue of $938 Million Increased 2023 Net Cash Provided by Operating Activities by 16% to $110 Million Generated $73 million in Free Cash Flow1 for 2023, Meeting Guidance
CHICAGO, March 15, 2024 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced revised financial results for the fourth quarter and full year ended December 31, 2023, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”).
Subsequent to the filing of the original press release on February 29, 2024, the Company obtained new information related to the fair value of its Massachusetts cultivation facility and recorded a corresponding $9 million fixed asset impairment. As a result, the Property, Plant and Equipment, net balance has been reduced by $9 million and net income has been reduced by $5 million as a result of the impairment, net of tax effects. As a result of these changes, conforming modifications were also made to certain ratios.
READ MORE |
PLANET 13 ANNOUNCES Q4 2023 FINANCIAL RESULTS
Q4 2023 Revenue of $23.0 million Q4 2023 Net loss of $14.3 million, which included a non-cash impairment loss of $7.2 million Q4 2023 Adjusted EBITDA of $1.3 million All results are reported in United States dollars ($) unless otherwise indicated.
LAS VEGAS, NV – March 13, 2024 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) (“Planet 13” or the “Company“), a leading vertically-integrated cannabis company, today announced its financial results for the three-month and twelve-month periods ended December 31, 2023. Planet 13’s financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).
“Amidst recent challenges, economic uncertainties, and ongoing pressure on cannabis prices, I am pleased to announce a strong quarter. Our performance was highlighted by solid revenue and positive Adjusted EBITDA, fueled by the expansion of gross margins and effective cost management. We were responsible for approximately 9% of Nevada’s retail market share and boasted a top brands in each category, underscoring the resilience of our operations and brand appeal in Nevada,” stated Larry Scheffler, Co-CEO of Planet 13.
“We recently took decisive actions to fortify our balance sheet and set the Company up for growth through our acquisition of VidaCann. With the potential for adult-use in Florida, we are now well positioned to capture the full benefit of this tremendous opportunity,” commented Bob Groesbeck, Co-CEO of Planet 13.
READ MORE |
NATIONAL AND INTERNATIONAL NEWS |
INDEPENDENT PROXY ADVISOR, GLASS LEWIS, RECOMMENDS CANOPY GROWTH SHAREHOLDERS VOTE FOR THE CREATION OF EXCHANGEABLE SHARES TO FURTHER THE ADVANCEMENT OF CANOPY USA
Shareholders are encouraged to vote well in advance of the proxy voting deadline on April 10, 2024 at 1:00 p.m. Eastern Time (Toronto time)
For any questions or assistance with voting, shareholders should contact Laurel Hill Advisory Group at 1-877-452-7184 (North American Toll Free) or 1‑416‑304‑0211 (Outside North America), or by email at assistance@laurelhill.com.
SMITHS FALLS, ONTARIO MARCH 14, 2024 — Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED, Nasdaq: CGC) today announced that independent proxy advisory firm Glass Lewis & Co. (“Glass Lewis”), in its report issued on Canopy Growth’s special meeting of shareholders scheduled for April 12, 2024, recommended that Canopy Growth shareholders (the “Canopy Shareholders”) vote in favour of the previously announced special resolution authorizing an amendment to the Company’s articles of incorporation, as amended (the “Amendment Proposal”), in order to: (i) create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth (the “Exchangeable Shares”); and (ii) restate the rights of the common shares in the capital of Canopy Growth (the “Common Shares”) to provide for a conversion feature whereby each Common Share may at any time, at the option of the holder, be converted into one Exchangeable Share. Canopy Shareholders will be asked to consider and vote on the Amendment Proposal at a special meeting of Canopy Shareholders on Friday, April 12, 2024 at 1:00 p.m. Eastern Time (Toronto time) (the “Meeting”).
READ MORE |
TERRASCEND REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS
Full year 2023 record Net Revenue of $317.3 million, an increase of 28.0% year-over-year
Full year 2023 Gross Profit margin of 50.3%, a 930 basis-point improvement year-over-year
Full year 2023 Adjusted EBITDA from continuing operations1 of $68.8 million, an increase of 77.1% year-over-year
Delivered first full year of both positive Cash Flow from continuing operations and Free Cash Flow2
TORONTO, March 14, 2024 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today reported its financial results for the fourth quarter and full year ended December 31, 2023. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise.
The following financial measures are reported as results from continuing operations due to the shutdown of the licensed producer business in Canada, which is reported as discontinued operations through September 30, 2023. All historical periods have been restated accordingly.
Fourth Quarter 2023 Financial Highlights
Net Revenue was $86.6 million, an increase of 25.5% year-over-year. Gross Profit Margin was 48.2%, compared to 44.6% in Q4 2022.
GAAP Net loss from continuing operations was $41.8 million, inclusive of $57.7 million of non-cash impairment charges, compared to a net loss of $2.0 million in Q4 2022. The non-cash impairment charges were recorded against goodwill and intangibles for the Company’s Michigan and California businesses. EBITDA from continuing operations1 was ($36.7) million, including the aforementioned non-cash impairment charges of $57.7 million, compared to $30.0 million in Q4 2022.
Adjusted EBITDA from continuing operations1 was $19.6 million, an increase of 60.7% year-over-year. Adjusted EBITDA Margin from continuing operations1 was 22.7%, compared to 17.7% in Q4 2022. Cash flow provided by continuing operations was $9.4 million compared to $7.3 million in Q4 2022. Free Cash Flow2 was $7.9 million compared to $3.9 million in Q4 2022.
READ MORE |
TILRAY INTRODUCES NEW NATURALLY FLAVOURED CBG INFUSED CANNABIS BEVERAGES
Enjoy Moments of Chill with Non-Alcoholic Mollo ‘Seltzers’
TORONTO, March 13, 2024 — Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced the expansion of its market-leading cannabis beverage portfolio with the latest release by its MOLLO® brand, introducing a lineup of new cannabis-infused non-alcoholic seltzers featuring the qualities of high cannabigerol (“CBG”) minor cannabinoid content, reminiscent of consumer favourite go-to low ABV beverages.
Last year, Mollo launched a few new additions to its original lineup of refreshing non-alcoholic lagers including Mollo 5 and Mollo 101 beverages, along with its new fan favourite non-alcoholic cannabis-infused apple cider beverage, ORCHARD CHILL’R™, featuring a balance of THC and CBG. As one of the first cannabis beverage brands to the market2 post-legalization and fresh into cannabis 2.0 products, Mollo has gained recognition for its unique and differentiated offerings that consumers know and love and has become one of the most overt social occasion brands embodying what it means to enjoy a moment to ‘chill’, outside of life’s busy days.
READ MORE |
TILRAY WELLNESS INTRODUCES NEW SUPERFOOD PRODUCTS POWERED BY HEMP AT EXPO WEST
Manitoba Harvest, Pioneers in Hemp and Natural Foods, Will Present New Superfood Breakfast Staples at Expo West March 13-15, 2024
NEW YORK and WINNIPEG, Manitoba, March 13, 2024 — Manitoba Harvest Hemp Foods, a leader in hemp-based foods and a wholly-owned subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY; TSX: TLRY), will showcase groundbreaking innovation at this year’s Natural Products Expo West, to be held in Anaheim, CA on March 13-15, 2024. Revolutionizing healthy breakfast, Manitoba Harvest will inspire attendees to “fuel your day with hemp” while sampling their new Superseed Oatmeal and debuting their new Bioactive Fiber for gut-health and regularity.
“The breakfast category is filled with unsustainable sources of energy, such as caffeine and sugar,” states Sam Garfinkel, SVP of Commercial Operations & Strategy at Manitoba Harvest. “What consumers want most is healthy, long-lasting sources of energy to fuel active lifestyles. Our latest innovation empowers holistic health with unprecedented nutritional benefits in familiar and delicious formats that the whole family will love.”
As the global market leader in hemp foods, with retail acceleration spanning from natural channel leader Whole Foods Markets to conventional grocery leader Walmart, Manitoba Harvest is an important staple of the annual Natural Products Expo West and represents the future of sustainable, nutrient-powered innovation. Manitoba Harvest is a Certified B Corp, certified CarbonZero and has pioneered Regenerative Agriculture practices in Hemp.
READ MORE |
TILRAY MEDICAL RECEIVES APPROVAL FOR FIRST MEDICAL CANNABIS EXTRACT IN PORTUGAL
CANTANHEDE, Portugal, March 14, 2024 — Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced a groundbreaking achievement in the medical cannabis industry in Portugal. Following the successful approval of our Tilray whole flower THC 18, Tilray Medical has now received approval for the first medical cannabis extract, Tilray Oral Solution THC 5 CBD 20, in Portugal, marking a significant milestone in medical cannabis availability and patient care within the country.
Denise Faltischek, Chief Strategy Officer and Head of International at Tilray Brands, Inc., said: “This is a monumental step forward for patient care in Portugal. With the approval of our first medical cannabis extract, we are proud to be at the forefront of medical cannabis research and accessibility and continue to demonstrate our commitment to providing innovative, safe, and effective therapeutic options to patients. We continue to pioneer the future of medical cannabis, furthering our mission to empower and inspire individuals to live their best lives.”
READ MORE |
BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 876,000 AND 625 DISPENSING LOCATIONS
|
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MARCH 15, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
MAR 15 2024- 867,716 MAR 08 2024- 876,346 MAR 01 2024- 875,470
FEB 23 2024- 873,219 FEB 16 2024- 871,883 FEB 09 2024- 871,656
Pattients Last Week: +370 Qualified Ordering Physicians: 2,658 New Doctors Last Week: - 21 Reporting Period: MAR 1 to MAR 7 2024
Amount of Medical Marijuana Dispensed - (mgs THC) 332,530,386 Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,527,694 Amount of Marijuana in a From for Smoking (oz) 110,270.255
Approved Dispensing Locations: 625 ADD LAST WEEK 0
|
UPCOMING MEETING AND CONFERENCES |
Boca Raton, FL & Zoom April 6th & 7th 2024 9:00 AM – 4:00 PM
Join Shari B. Kaplan, LCSW for a two- day CE accredited workshop providing an in-depth approach to best practices for integrative mental health. Kaplan will educate on her integrative approach from assessments, treatment
plans and process. She begins with a thorough psychosocial assessment (this includes Bio-psychosocial assessment, family attachments/dynamics, medical history, spiritual beliefs, exercise, nutrition, relationships, strengths/deficits) to have an in depth understanding of patient, prepare for treatment and create treatment goals.
READ MORE AND REGISTER |
ADVERTISEMENT OPPORTUNITIES
If your goal is to get your business in front of the right people in the cannabis industry or you want to be an integral part of this new and exciting business opportunity, then you need to join with Cannabis News Florida as we help to establish cannabis as a major part of the economy in Florida. Cannabis News Florida is an online publication focusing on both local and national news from leading authorities about the medical and business developments in the medical cannabis industry covering the entire state of Florida.
Join the Cannabis News Florida force online and in print. We offer several marketing options to fit all budgets:
· MMTC PROMOS LISTED IN EACH E-NEWSLETTER • Directory Listing • Banner Ads • Ad Space in the Newspaper • Feature Articles • Weekly Newsletters
For further information or to make your ad reservation, please call:561-368-6950 / 954-605-4785 cell charles@cannabisnewsflorida.com
|
|
|