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NEWS FROM THE PAST WEEK
RELATING TO THE BUSINESS OF MMTC'S IN FLORIDA Click on Company Logo to be Transferred to Web Site |
TRULIEVE REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS HIGHLIGHTING YEAR END MOMENTUM AND CASH GENERATION
-Fourth quarter performance delivered highest revenue and gross margin for the year
-Record cash flow from operations of $202 million and free cash flow of $161 million* in 2023
Expect 2024 cash flow from operations of at least $225 million
TALLAHASSEE, Fla., Feb. 29, 2024 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., today announced its results for the fourth quarter and full year ended December 31, 2023. Results are reported in U.S. dollars and in accordance with U.S. Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding.
Q4 2023 Financial and Operational Highlights*
-Revenue of $287 million increased 4% sequentially, with 95% of revenue from retail sales.
-Achieved GAAP gross margin of 54%, with gross profit of $154 million.
-Reported net loss of $33 million. Adjusted net loss of $23 million* excludes non--recurring charges, asset impairments, disposals and discontinued operations.
-Generated cash flow from operations of $131 million and free cash flow of $122 million*.
-Achieved EBITDA of $73 million*, or 25% of revenue and adjusted EBITDA of $88 million*, or 31% of revenue.
-Outperformed the third quarter as a result of consumer strength and holiday sales, driven by higher traffic, basket size, and units sold.
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GREEN THUMB EXPANDS FLORIDA RETAIL FOOTPRINT WITH NEW RISE DISPENSARY IN DUNNELLON, ITS 15TH LOCATION IN THE SUNSHINE STATE
CHICAGO and VANCOUVER, British Columbia, Feb. 29, 2024 – RISE Dispensaries, a rapidly growing cannabis retail chain owned by Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), today announced the opening of its 15th retail location in Florida and 92nd nationwide, RISE Dispensary Dunnellon. Located at 11192 N. Williams St., RISE Dispensary Dunnellon will open on Friday, March 1, with special discounts and complimentary merchandise for the store’s first customers. The new store will offer medical cannabis patients a range of high-quality THC and CBD products, including RYTHM premium flower and full spectrum vapes, Dogwalkers pre-rolls, Good Green flower, and &Shine flower, pre-rolls, vapes and chews.
“We are thrilled to be the first dispensary to open in the City of Dunnellon, marking our second RISE location in Marion County,” said Green Thumb President Anthony Georgiadis. “Located just west of our state-of-the-art cultivation facility in Ocala, RISE Dunnellon shall offer a highly curated product selection and best-in-class service. We are excited to offer our patients the convenient option of roll-through service, which allows them to place their order from home, then pick up their purchase at our drive-thru window.”
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LEGENDARY BREEDER ORIGINS TK SELECTS AND FLUENT FORM LICENSING AGREEMENT, BRINGING PREMIUM GENETICS TO THE FLORIDA MEDICAL CANNABIS MARKET
Broadens Access to High-Quality, Sought-After Cannabis Strains for Medical Patients across the Sunshine State
MIAMI, Feb. 23, 2023 – Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) (“Fluent” or the “Company“), a vertically-integrated, multi-state cannabis company operating under the Fluent™ brand, broadened its cannabis genetic portfolio by collaborating with Marty Calabrese, the founder of Origins TK Selects and creator of OG Kush and Triangle Kush. Origins TK Selects’ genetics will be cultivated under the guidance of Fluent’s premier legacy growers, Freedom Town Holdings. Fluent is initially rolling out Origins OG Kush and Origins Triangle Kush whole-flower to their 29 Florida dispensary locations with additional Origins TK Selects releases and genetics to be available to patients in the Sunshine State throughout the year.
“We are thrilled by our new relationship with Origins TK Selects and excited to bring both new and classic genetics to our customers across Florida,” said Fluent CEO Robert Beasley. “Through our continued collaboration with Freedom Town Holdings and the addition of Origins TK Selects, we are broadening patient access to the highest-quality flower and medical cannabis products available.”
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VERANO ANNOUNCES 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, Feb. 29, 2024 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced its 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”).
Fourth Quarter 2023 Financial Highlights
Revenue of $237 million, an increase of 5% year-over-year, and decrease of 1% versus the prior quarter.
Gross profit of $118 million or 50% of revenue.
SG&A expense of $86 million or 36% of revenue.
Net loss of $(73) million or (31)% of revenue.
Adjusted EBITDA2 of $73 million or 31% of revenue.
Net cash provided by operating activities of $32 million.
Capital expenditures of $10 million.
Free cash flow1 of $23 million.
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PLANET 13 REPORTS UNAUDITED, PRELIMINARY FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS AND DATE FOR FULL EARNINGS RELEASE
LAS VEGAS, NV / February 27, 2024 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) (“Planet 13” or the “Company“), a leading vertically-integrated multi-state cannabis company, today announced its unaudited preliminary financial results for the fourth quarter and full year ended December 31, 2023. All financial information is provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles (“GAAP”).
“Given the turbulence of the last few months, the challenging macroeconomic backdrop, and the continued cannabis price compression we are seeing, I am pleased to report a solid quarter. We generated solid revenue performance and positive Adjusted EBITDA, driven by gross margin expansion and strong cost controls. We continue to hold ~9% of Nevada’s retail market share and top five brands in every category, demonstrating the strength of our Nevada operations and brand value,” said Larry Scheffler, Co-CEO of Planet 13. “In spite of recent events, Planet 13 is generating positive Adjusted EBITDA and continues to have a strong balance sheet with over $17 million in cash and effectively no debt. We are well capitalized to continue executing our announced growth plan in Florida and Nevada.”
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PLANET 13 ANNOUNCES COMMENCEMENT OF UNDERWRITTEN PUBLIC OFFERING OF UNITS
LAS VEGAS , Mar 04, 2024 – Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), today announced that it has commenced an underwritten public offering (the “Offering”) of units (the “Units”), each Unit expected to consist of one share (each, a “Share”) of common stock, no par value, of the Company (“Common Stock”) and one warrant (each, a “Warrant”) to purchase one share of Common Stock. The Company expects to grant the underwriters a 30-day option to purchase additional Shares and/or Warrants. The Offering is subject to market conditions and there can be no assurance as to whether or when the Offering may be completed or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes, which may include, but are not limited to, the acquisition of additional retail cannabis licenses in the state of Nevada , the expansion of its retail presence in Florida and Illinois and other capital improvements.
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NATIONAL AND INTERNATIONAL NEWS |
A WHITE PAPER ON THE FLORIDA MEDICAL MARIJUANA CONSENT FORM
The Florida Cannabis Action Network created a Comprehensive Overview of Contemporary Science – A White Paper on the Florida Medical Marijuana Consent Form
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GOOD SUPPLY LAUNCHES NEW ‘JUICED’ CANNABIS PRE-ROLL MULTI-PACKS ACROSS CANADA
Featuring Additional Fruity Flavours to the Good Supply Family
TORONTO, Feb. 27, 202– Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company today announced the latest product releases from its leading Canadian cannabis brand, Good Supply. Good Supply’s new infused GOOD SUPPLY JUICED™ lineup includes its first duo blunt multi-pack with the new 2x1g ‘Cherry on Top’ Blunts and a refreshed rotation of flavours in its new multi-strain 3×0.5g Discovery Pack.
First making its appearance across retailers last summer, Good Supply’s fruit-forward ‘JUICED’ infused pre-roll collection continues to expand with bold and fruity flavours drawing from Good Supply’s acclaimed fan-favourite offerings. Good Supply’s single-flavour pre-roll multi-packs, multi-flavour discovery pre-roll pack, and indulgent blunts feature a pairing of strain-specific flower with the fruit-flavoured extract of Good Supply’s best-selling vapes.
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CANADA’S BROKEN COAST CANNABIS BRAND EXPANDS RENOWNED CRAFT FLOWER LINEUP
Introducing Purity at its Finest with New Broken Coast Cherry Cheesecake and EmergenZ Strains
TORONTO, March 05, 2024 — Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, announced today the latest craft flower releases by premium cannabis brand, BROKEN COASTTM. The brand introduces a new indica and new sativa: Cherry Cheesecake and EmergenZ.
Since 2013, Broken Coast has stood out from the crowd with premium growing methods and meticulous quality controls, ensuring every harvest delivers high quality cannabis. From the pheno-hunting process to hand-trimming, slow-curing, and hand-packing, we’re raising the standard for what top-tier cannabis should be.
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TILRAY PROVIDES INTERNATIONAL CANNABIS UPDATE ON MILESTONE GERMAN CANNABIS LEGALIZATION
Germany’s De-Scheduling of Cannabis Opens Path to New Opportunities for Tilray in Potential $3bn Medical Market
European Union Medical Cannabis Market Now Projected to Become $45bn
NEW YORK and NEUMÜNSTER, Germany, Feb. 28, 2024 — Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), a global leader in cannabis research, cultivation, production, and distribution, today provides an update on Germany’s milestone cannabis legalization and what it means for the future of cannabis in Europe and for Tilray.
As a global leader in the legalized medical and adult-use cannabis markets and a market leader in medical cannabis across Europe, with a leading market share in Germany, Tilray is bullish on the positive paradigm shift that the new German drug policy creates for the future of cannabis in Europe.
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PEOPLE’S FIRST CHOICE, LLC (“BLÜM SANTA ANA”) GRANTED TEMPORARY RESTRAINING ORDER AGAINST NEW PATRIOT HOLDINGS, INC.
SANTA ANA, Calif., March 01, 2024 — Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company with operations throughout California, announced today the grant of a Temporary Restraining Order against New Patriot Holdings, Inc. (“New Patriot”), an entity controlled in part by Jay Yadon. Mr. Yadon is also a principal of People’s California, LLC, an entity involved in separate litigation with Unrivaled Brands, Inc., a wholly-owned subsidiary of Blüm. Bernard Steimann is the Managing Member of People’s California.
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CRONOS GROUP REPORTS 2023 FOURTH QUARTER AND FULL-YEAR RESULTS¹
Ended 2023 with approximately $862 million in cash and short-term investments
Commenced sales to Australian partner
Launched award-winning Lord Jones® brand in Canada
Consolidated net revenue increased 9% in Q4 2023 compared to Q4 2022; on a constant currency basis consolidated net revenue increased 11% in Q4 2023 compared to Q4 2022
Net revenue in Canada increased 20% in Q4 2023 compared to Q4 2022; on a constant currency basis net revenue in Canada increased 21% in Q4 2023 compared to Q4 2022
TORONTO, Feb. 29, 2024 — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), today announces its 2023 fourth quarter and full-year business results1.
“In 2023, we significantly improved our cash flow from operations driven primarily by operating expense savings, while simultaneously expanding our portfolio of borderless products in Canada and Israel and entering two international markets, Germany and Australia,” said Mike Gorenstein, Chairman, President and CEO of Cronos.
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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 875,000 AND 622 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MARCH 1, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
MAR 01 2024- 875,470 FEB 23 2024- 873,219 FEB 16 2024- 871,883
FEB 09 2024- 871,656 FEB 02 2024- 872,376 Patients Last Week: +2251
Qualified Ordering Physicians: 2,695
New Doctors Last Week: - 3 Reporting Period: FEB 23 to FEB 29 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 350,339,560
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,744,253
Amount of Marijuana in a From for Smoking (oz) 112,228.345 Approved Dispensing Locations: 622 ADD LAST WEEK 1
AYR CANNABIS - TALLAHASSEE |
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 |
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