That is the Every day Hit. A recap of the highest enterprise tales from the hashish trade for March 10, 2022.
On The Web site
Greenlane Holdings, Inc. (NASDAQ: GNLN) introduced layoffs, cost-cutting efforts, and management adjustments with the intention to develop into worthwhile. The corporate additionally supplied preliminary monetary outcomes for its fourth quarter and full-year ended December 31, 2021. Greenlane had been flying excessive on gross sales of JUUL flavored vape pens. Nevertheless, issues arose over the extreme teen utilization of the candy-flavored vapes and laws induced the market to tug again closely. That was adopted by the vape disaster within the hashish market when illicit market vapes started inflicting well being issues. At that time, Greenlane joined forces with hashish packaging firm KushCo Holdings, which in flip made the transfer to chop out its small prospects and solely concentrate on the large ones that had no hassle paying the payments. Learn extra right here.
AFC Gamma Inc. (NASDAQ: AFCG) introduced its outcomes for the fourth quarter and year-ended December 31, 2021. Within the fourth quarter, AFC reported web earnings of $7.0 million or $0.43 per primary weighted common share of frequent inventory. The corporate reported complete bills of $4.5 million, a rise of $0.6 million, or 16.5%, in comparison with the prior quarter. The corporate had distributable earnings of $8.5 million or $0.52 per primary weighted common share of frequent inventory. Additionally within the fourth quarter AFC closed $127.3 million of latest commitments in This fall 2021 and funded $125.6 million of latest and current commitments. Learn extra right here.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) is the official proprietor of Michigan-based Gage Development Corp. (CSE: GAGE) (OTCQX: GAEGF). Gage inventory has stopped buying and selling upon completion of the beforehand introduced deal. In consequence, TerrAscend may have an expanded footprint with owned and managed operations in California, Michigan, Maryland, New Jersey, Pennsylvania, and Canada, together with 7 cultivation and processing services and 25 working dispensaries serving medical and adult-use hashish markets within the U.S. and Canada. Learn extra right here.
IM Hashish Corp. (CSE: IMCC) (NASDAQ: IMCC) supplied preliminary unaudited monetary outcomes for the three months and financial 12 months ended December 31, 2021. Preliminary revenues for the fourth quarter have been no less than $20 million, representing an approximate improve of no less than 37% sequentially and no less than 308% in comparison with the identical prior-year interval. Preliminary revenues for fiscal 12 months 2021 have been no less than $54 million, representing an approximate improve of no less than 240% from fiscal 12 months 2020. Preliminary gross margin earlier than truthful worth adjustment was no less than 22% in fiscal 12 months 2021. Learn extra right here.
In Different Information
The Inexperienced Natural Dutchman Holdings Ltd. (CSE: TGOD) (US-OTC: TGODF) has agreed to amend the phrases of the amended and restated credit score settlement dated September 29, 2021, as amended by a primary modification dated November 20, 2021, between The Inexperienced Natural Dutchman Ltd. , a wholly-owned subsidiary of TGOD, and its Canadian lender. The Agent and the Borrower have agreed to enter into the second modification to the Credit score Settlement to, amongst different issues: (i) improve the revolving facility restrict by $5,000,000 to $30,000,000; (ii) permit sure eligible stock to be included as collateral; and (iii) calm down sure covenants set forth within the Credit score Settlement. Learn extra right here.
MariMed, Inc. (OTCQX: MRMD) introduced the launch of Vibations: Excessive + Vitality, an all-natural, full-spectrum hashish drink combine that gives focus and vitality for the thoughts and physique. This launch marks MariMed’s entry into cannabis-infused drinks, which, is among the fastest-growing classes within the trade, based on Headset information. Learn extra right here.
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