Video Staff
The cannabis industry’s fear of big tobacco trying to elbow into the industry has finally come true with today’s announcement of a $175 million investment into Organigram Holdings Inc. (NASDAQ: OGI) from a wholly-owned subsidiary of British American Tobacco or BAT (NYSE: BTI). The BAT subsidiary has subscribed for approximately 58.3 million common shares of OGI, which represents a 19.9% equity interest.
Moving on to earnings
Curaleaf Holdings, Inc. (OTCQX: CURLF) reported managed revenue increased 186% to $233.3 million in the fourth-quarter ending in December and grew 21% sequentially. For the full year of 2020, revenue grew 161% to $653 million.
Ayr Wellness Inc. (OTCQX: AYRWF) reported revenue rose 48% in the fourth quarter to $47.8 million versus last year’s $32.3 million and an increase of 5% sequentially. Ayr Wellness also trimmed the operating loss to $2.2 million from last year’s operating loss of $16.9 million.
Acreage Holdings, Inc. (OTCQX: ACRHF, ACRDF) reported financial results for the fourth quarter and full-year ended December 31, 2020, after the market close on Tuesday. The fourth-quarter revenue for Acreage increased 50% to $31.5 million, while the net loss was $36.9 million.
The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) reported in the fourth-quarter, its revenues increased 236% to $10.92 million versus $3.25 million in Q4-2019. The Green Organic Dutchman fourth-quarter net loss improved to $23.68 million versus $144.75 million for the same period in 2019.
Biotech company Zynerba Pharmaceuticals, reported its fourth-quarter results. The company has no revenues to report at this time. The net loss for the fourth quarter of 2020 was $9.6 million
In financial deals, California-based Harborside Inc. (OTC: HBORF) has completed a $5 million strategic investment in LPF JV, LLC otherwise known as Loudpack, through a 15%, secured convertible note due December 2022.
Aleafia Health (OTC: ALEAF) closed its previously announced bought deal offering that raised $22.7 million.
And finally in stock news
Aurora Cannabis Inc. (NYSE: ACB) has filed a new preliminary short form base shelf prospectus to offer up to $1 billion in securities
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) has applied to the Canadian Securities Exchange to have its common shares listed for trading on the CSE.
