The Day by day Hit is a recap of the day’s prime enterprise tales within the hashish trade for March 30, 2022.
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Trulieve
Trulieve Hashish Corp. (CSE: TRUL) (OTCQX: TCNNF) introduced its outcomes for the quarter and full-year ended December 31, 2021. Within the fourth quarter, Trulieve delivered income of $305.3 million, which was a rise of 81% over the fourth quarter of 2020 and 36% sequentially over the third quarter. The corporate reported a web lack of $71.5 million within the quarter and an adjusted web earnings of $1.8 million, which excludes $73.3 million of the non-recurring truthful worth of stock step-up, transaction, acquisition, and integration fees primarily related to the Harvest acquisition. the earnings per share was a lack of ($0.49) per share which missed the Yahoo Finance common analyst estimate for a lack of $0.18) cents per share. Learn extra right here.
Tilt
TILT Holdings Inc. (NEO: TILT) (OTCQX: TLLTF) reported its monetary and working outcomes for the fourth quarter and yr ending December 31, 2021. Tilt stated that income elevated roughly 28% to $54.1 million versus $42.3 million for a similar interval in 2020. The rise was solely barely higher than the third quarter’s income of $53.3 million. The online loss for the quarter was $30.8 million, a big enchancment over 2020’s fourth-quarter web lack of $92 million. Learn extra right here.
4Front
4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) introduced its unaudited monetary outcomes for the fourth quarter and financial yr ended December 31, 2021. The corporate reported that GAAP income elevated 68% year-over-year, and 10% sequentially to $28.5 million within the fourth quarter. 4Front didn’t disclose whether or not it had a web loss or earnings for the quarter, whereas it did say adjusted EBITDA for the quarter was $13.2 million, up 160% from the identical time interval in 2020. Learn extra right here.
IIPR
Parallel Hashish’s debt points have been uncovered within the firm’s lawsuit with some disgruntled buyers. The lawsuit outlined the corporate’s defaults on its debt obligations and Curaleaf (OTC: CURLF) additionally famous in its filings that Parallel was not shopping for its Illinois properties saying it had “obtained correspondence from Parallel’s attorneys indicating that it’ll not be ready to finish the acquisition of the Illinois Belongings resulting from lack of financing and in search of to terminate its settlement to buy the Illinois Belongings. The corporate has asserted that Parallel’s actions have constituted materials breaches of its settlement with Parallel and is exploring its choices.” In different phrases, Curaleaf might sue Parallel or simply store the properties to another person. Learn extra right here.
MedMen
Ascend Wellness (OTC: AAWH) fired its newest shot within the battle to drive MedMen (OTC: MMNFF) to finish the beforehand agreed-upon sale of the corporate’s New York property. On Monday, the corporate filed its newest paperwork with the court docket calling out MedMen’s accusations of political affect peddling. Ascend is arguing that MedMen is utilizing the accusation as a approach to distract and stall the acquisition course of. Learn extra right here.
In Different Information
Greenlane Holdings, Inc. (NASDAQ: GNLN) reported monetary outcomes for the fourth quarter and full-year ended December 31, 2021. Complete income for This autumn 2021 elevated 54% to $56.0 million, in comparison with $36.3 million for This autumn 2020. Complete income for 2021 elevated 20.1% to $166.1 million, in comparison with $138.3 million for 2020. Learn extra right here.
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