It’s time on your Day by day Hit of hashish monetary information for November 17, 2021.
On The Website
Jushi
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) introduced its monetary outcomes for the third quarter ending September 30, 2021 with complete income rising 13.1 sequentially to $54.0 million, and a rise of 116.7% over final yr. Yahoo Finance’s common analyst estimate was for revenues of $57 million inflicting Jushi to overlook the estimates. The corporate additionally revised its steerage downward. Jushi reported a internet revenue of $38.2 million, a rise of $33.5 million sequentially, and $68.2 million year-over-year. The earnings have been $0.22 per primary share and a internet lack of $0.08 per diluted share, in comparison with internet revenue of $4.8 million, or $0.03 per primary share and a internet lack of $0.08 per diluted share within the second quarter. The estimate was for earnings of $(0.02). The adjusted EBITDA of $6.4 million was a rise of 38.5% sequentially and 124.9% year-over-year.
4Front
4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) introduced its monetary outcomes for the third quarter ended September 30, 2021 with complete revenues of $25.9 million, topping final yr’s $12 million for a similar time interval for a achieve of 70%. Nevertheless, the corporate skilled a 4% sequential drop in gross sales from the second quarter. The corporate blamed the decline in gross sales to allowing delays throughout the native overview course of for each the Commerce, CA facility and Brookline, MA dispensary. The income was additionally in need of the Yahoo Finance common analyst estimate for income of $27 million. The online loss for the quarter was $4.5 million, which was barely increased than final yr’s $4 million.
Mycotopia
Mycotopia Therapies Inc. (OTC Pink: TPIA) has entered into an settlement to type a 50/50 three way partnership with Agile Pharmaceutical Options to develop novel oral dosage types of psilocybin within the type of a psychedelic sublingual pill. Mycotopia mentioned that the 2 corporations plan to get a Well being Canada License for psychedelics to acquire and take a look at psychedelic uncooked materials, for the aim of making the psilocybin-based, sublingual pill to take to market.
MedMen
The continuing trial of MedMen (OTC: MMNFF) ex-CFO James Parker is starting to listen to the opposite facet of the story. Thus far the trial has delivered Parker’s model of occasions. He claims that the founders have been spending company cash as if it was their very own and making a poisonous work setting. He additionally alleges that MedMen paid outsiders to purchase the corporate’s inventory in an effort to maneuver the share costs increased. This week former president and co-founder Andrew Modlin took the stand. MedMen’spostion has all the time been that Parker breached his employment contract, not that he had been unfairly terminated. In keeping with Law360, Modlin testified that though he was more and more involved concerning the efficiency of then-CFO James Parker within the months after the corporate debuted on the Canadian Securities Alternate in 2018, he neither fired nor demoted him. Parker claims that the MedMen executives have been getting ready to fireside him as a result of he believed an govt search agency had been employed behind his again.
In Different Information
Novamind Inc. (CSE:NM)(OTCQB:NVMDF) introduced that it has signed a Letter of Intent to accumulate Foundations for Change, an Arizona-based firm with two outpatient psychological well being clinics specialised in ketamine-assisted psychotherapy. The Arizona Acquisition represents Novamind’s first clinics outdoors the state of Utah, and the primary announcement from a pipeline of accretive transactions that may broaden the Firm’s community of clinics within the U.S. and globally.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) introduced the pending launch of the final contractual buying and selling restrictions remaining on 35% of the shares it issued in its reverse takeover transaction accomplished on February 11, 2021. Consequently, not one of the firm’s shares issued within the RTO can be topic to those buying and selling restrictions, and the entire Firm’s subordinate voting shares issued within the RTO can be eligible to commerce on the Canadian Securities Alternate and the OTCQX market, topic to relevant securities legal guidelines and inventory change guidelines.
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