Video Staff
Even though it was a shorted trading week due to the Memorial holiday, there were a lot of big earnings.
MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) reported that revenue rose by 22% to $36.6 million in the third quarter. However, the company still reported a huge net loss of $63.1 million amid all of its legal troubles.
Acreage Holdings, Inc. (ACRG-U.CN) (ACRGF) reported that its revenue rose 487% to $12.9 million, but the company also delivered a whopping net loss of $31.2 million. Looking at pro forma results, the revenue would have been $33.1 million and the adjusted net loss would have been $15.5 million. On the company’s conference call, Murphy said he wanted the company to become the “Proctor & Gamble of cannabis.” He highlighted the Form Factor acquisition saying it was a prudent use of shareholder money. Suggesting that other companies were paying high prices for fewer returns on their acquisitions.
Charlotte’s Web Holdings, Inc. (CSE:CWEB) (OTCQX:CWBHF) reported Q1 revenue growing 66% to $21.7 million. The net income dropped to $2.3 million from last year’s $3.1 million.
Origin House (CSE: OH) (OTCQX: ORHOF) said its Revenue for the first quarter was $11.2 million,
MJardin Group, Inc. (CSE: MJAR) (OTCQX: MJARF) reported its financial results for the quarter ending March 31, 2019, in Canadian dollars. The company delivered revenues of $10.9 million versus last year’s $6.7 million for the same time period
Acquired Sales Corp. (OTC Pink: AQSP) signed a letter of intent to acquire 100% Illinois-based Warrender Enterprise Inc. also known as Lifted Liquids for approximately $7.5 million in cash, plus 4,545,455 shares of Acquired Sales Corp.’s common stock.
MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF) entered into an agreement with Scotiabank, in which the underwriters have agreed to purchase on a bought deal basis 10,815,000 common shares of the company at a price of $5.55 per Share for gross proceeds of $60 million
FLRish Inc. also known as Harborside, announced that it has closed an approximately C$19.65 million private placement of subscription receipts.
Cannabis Strategies Acquisition Corp. will now be known as AYR Strategies and began trading on the NEO Exchange in Canada under the symbols NEO: AYR.A.
