EQUITY. GURU MARKET NEWS – LIVE FEED
Tuesday, April 13th, 2021
- Retail subsidiary, Oasis Cannabis, achieved a 100.3% increase in net revenue year-over-year, alongside a 51.2% increase in the number of transactions and a 31.2% increase in average order size.
- Branded wholesale division, City Trees, recorded a 70.5% increase in year-over-year net revenue and its highest volume of wholesale orders to date.
- The number of orders placed through City Trees increased by 150% compared to March 2020.
Lots of coded context here..
Red Light Holland Corp. has entered into a non-binding letter of intent to acquire an 80-per-cent stake in Happy Caps Farm, one of Nova Scotia’s most unique gourmet mushroom farms, cleverly positioned in the mushroom plug spawn business, selling fresh mushrooms for the wholesale market and specializing in grow your own mushroom kits.
“We are making mushroom growing easy and accessible and Red Light Holland gets that! They also get how magical growing mushrooms can be, which is why we are excited to effect this transaction,” said Mr. Hatfield, chief marketing officer of Happy Caps.
Namaste’s Cannmart has inked deals with three new partners:
- CannTx Life Sciences Inc., cultivator and processor of Royal City Cannabis Co. branded premium artisanal hash products.
- Rilaxe Canna Inc., a Canada-wide exclusive production and distribution agreement to market a new format of edibles that are made from dried fruit, differing from traditional gummy and chocolate SKUs
- Safari Flower Co., a licensed cultivator and processor for various flower and various cannabis 2.0 categories.
IM Cannabis Corp.’s subsidiary, Adjupharm GmbH, has recently signed a supply agreement with MediPharm Labs Australia Pty. Ltd, a subsidiary of Medipharm Labs Corp. The initial term of the Supply Agreement is two years, with a two-year automatic extension period.
Subject to fulfilling applicable regulatory and import requirements, the medical cannabis formulations and products manufactured by MediPharm Labs to be supplied under the Supply Agreement will enable Adjupharm to launch a new category of IMC-branded extracts in Germany. This will include a range of specially formulated high THC, balanced THC and CBD cannabis oil products expected to launch in Germany in the second half of 2021.
Cybin Inc. has provided plans to advance the preclinical work for its orally dissolving tablet (ODT) formulation of CYB003 and its inhaled formulation of CYB004, two of the company’s deuterated tryptamine development candidates. These studies are part of the required U.S. Food and Drug Administration (“FDA”) enabling trials for investigational new drug applications (“INDs”).
Hope Well Capital Corp. has provided an update, further to its news release on Feb. 9, 2021, on its acquisition of Forward Water Technologies Inc. (FWT), a private company incorporated under the Business Corporations Act (Ontario). The Transaction, once complete, is expected to result in the reverse takeover of HWCC (the “Resulting Issuer”) and will constitute HWCC’s Qualifying Transaction, as such term is defined in the policies of the TSXV.
“Air Canada will be offering refunds to all eligible customers whether they cancelled their ticket or if their flight was cancelled by the airline. Customers can now submit refund requests online or through their travel agent and we are committed to processing refunds as fast as possible,” said Lucie Guillemette, Executive Vice-President and Chief Commercial Officer at Air Canada.
“In addition, Air Canada has revised its booking policies for all future travel. Starting today, in cases where a customer’s flight is cancelled or rescheduled by more than three hours, we will now offer all customers the choice of receiving a refund, an Air Canada Travel Voucher or the equivalent value in Aeroplan Points with a 65% bonus. This new policy will provide more certainty and flexibility, so customers can book their future travel with greater confidence and we look forward to welcoming you back on board.”
“The Rainbow Gold Project is another key element in Snowline’s Yukon-focused asset portfolio. The sampling and geophysics to date indicate we may be on top of a prospective intrusion like the types associated with other large deposits in the Tintina Gold Belt” said Nikolas Matysek, Chief Executive Officer of Snowline. “Historical work has established a clear deposit thesis that we will move to validate this season.”
- Q2 2021 net revenue decreased from Q2 2020 primarily due to significantly lower wholesale revenue and a lower average selling price in Q2 2021. The higher wholesale revenues during Q2 2020 were opportunistic in nature, primarily sales to a single licensed producer.
- Q2 2021 net revenue was also lower due to missed sales opportunities, as certain employees tested positive for COVID-19 which resulted in a significant number of facility staff having to isolate.
- The Company was unable to fulfill certain demand for its products totaling approximately $7 million in Q2 2021 due to production and processing constraints.
- Q2 2021 revenue was also negatively impacted by certain provincial boards aiming to manage lower levels of inventory such as Alberta.
- Q2 2021 gross revenue decreased from Q2 2020 largely due to similar factors impacting net revenue described above.
- Higher cost of sales in Q2 2021 was primarily due to higher Q2 2021 inventory provisions, a higher cost of production, and a charge related to unabsorbed fixed overhead as a result of lower production volumes in Q2 2021.
Trillion Energy International Inc. has retained Oil and Gas Hunter (OGH) to conduct geophysical analysis in furtherance of Trillion’s plan to expand its current offshore acreage at the SASB gas field aimed at discovering additional new gas resources and search for deeper gas potential in the contiguous blocks, as described in Trillion’s March 10, 2021, news release. As part of the work program OGH will:
- Remap and assess existing drilling targets on the Production Block and evaluate proposed drill locations and planned well trajectories.
- Assess all data in the Exploration Area and as shown on the attached maps disclosed in Trillion’s March 10 2021 news release.
- Reprocess South Akcakoca 3D and regional 2D datasets in the production permit area and technical permit license area shown on the attached maps in Trillion’s March 10 2021 news release.
- Reinterpret and remap reservoir zones on the Production Block to identify:
- Limits of producing reservoir zones;
- Potential bypassed reservoirs or reservoirs not adequately drained;
- Identify new play or prospect ideas;
- Process additional datasets for use in evaluation of prospective areas
goeasy Ltd. has entered into an amended agreement with a syndicate of underwriters led by BMO Capital Markets to increase the size of its previously announced bought deal equity offering of subscription receipts to aggregate gross proceeds of approximately $150-million, representing 1,221,100 subscription receipts at a price of $122.85 per subscription receipt, to finance a portion of the purchase price for its previously announced acquisition of LendCare Holdings Inc.