The Every day Hit is a recap of the highest hashish enterprise tales for March 3, 2022.
On The Website
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) reported its monetary and working outcomes for the fourth quarter and yr ended December 31, 2021. Complete income was $320 million for the fourth quarter of 2021, a rise of only one% from $317 million within the third quarter of 2021 and 39% from $230 million within the fourth quarter of 2020. Curaleaf mentioned that the income progress was as a consequence of new retail retailer openings, the addition of recent wholesale companion accounts, product launches, and the growth of cultivation and manufacturing amenities. The online loss for the quarter was $28 million versus the third quarter’s web lack of $55 million and final yr’s $37 million within the fourth quarter of 2020. Curaleaf mentioned that the year-over-year enchancment in web loss was primarily pushed by an roughly $20 million enhance in working revenue and $2 million of decrease revenue tax expense, partially offset by $15 million of upper different bills, web. The earnings per share had been ($0.04), which missed the Yahoo Finance analyst estimate for earnings of ($0.03). Learn extra right here.
A New Jersey hashish license applicant is suing the state and claiming that some license winners had been utilizing sure ladies as props to get particular female-owned enterprise license. Curio Holdings LLC, a subsidiary of privately-owned Curio Wellness primarily based out of Maryland, filed a lawsuit within the Superior Court docket of NJ, Appellate Division (#A-000947-21), towards New Jersey Hashish Regulatory Fee (NJCRC) for a keep of Various Remedy Heart license awards within the Central Area, alleging software fraud from a number of of the awardees of the coveted licenses. Learn extra right here.
Tilray Manufacturers, Inc. (Nasdaq: TLRY) is placing up a partnership with Hexo Corp. (Nasdaq: HEXO) by shopping for $211 million of its debt. The transfer will deliver collectively Canada’s high two hashish market share leaders, strengthening their respective positions and setting the stage for elevated manufacturing efficiencies amid aggressive market dynamics. Tilray’s inventory was slipping barely in early buying and selling on the information. Learn extra right here.
Excessive Tide Inc. (Nasdaq: HITI) is shopping for 4 working retail hashish shops in Ontario beneath the identify Crossroads Hashish, for C$2.5 million in an all-stock deal. Within the newest quarter, Crossroads generated annualized income of C$7.6 Million and annualized Adjusted EBITDA of C$0.7 Million. The acquisition value represents 3.5x annualized Adjusted EBITDA for the three months ended December 31, 2021. Learn extra right here.
In Different Information
Greenwave Expertise Options, Inc. (OTC: MSRTD) is happy to announce that it’s going to start buying and selling beneath the ticker “GWAV” on March 28, 2022. Greenwave is at the moment buying and selling with a “D” added to its ticker image for 20 enterprise days following the effectiveness of a share consolidation on February 28, 2022. The corporate expects to formally submit its software to uplist to a nationwide trade within the coming weeks, with its subsidiary, Empire Companies, Inc., producing roughly $27.5 million in income within the fiscal yr 2021.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF)introduced the appointment of Kara DioGuardi to its Board of Administrators. A Grammy nominated songwriter, producer, file govt, music writer, Broadway actress and former American Idol choose, Ms. DioGuardi’s credit embrace 320 songs launched by main labels, 11 of which have earned Grammy nominations, 23 BMI Awards and greater than 50 charting singles, cumulatively surpassing one billion streams.
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