The Every day Hit is a recap of hashish enterprise information for Jan. 9, 2023.
ON THE SITE
Tilray Could Pivot to Fruit, Beer Gross sales if Hashish Stays Gradual
Tilray Manufacturers Inc. (Nasdaq: TLRY) (TSX: TLRY) could increase its alcohol trade footprint or start rising fruit and veggies to make up for a shortfall within the marijuana commerce if hashish gross sales stay in a droop, in accordance CEO Irwin Simon. As a result of Congress has let hashish stay federally unlawful, Tilray’s U.S. distribution community goes largely unused. Learn extra right here.
Tilray’s Income Falls As Web Losses Develop
Tilray Manufacturers reported monetary outcomes for the second fiscal quarter that ended Nov. 30, 2022, as income fell 7% from final yr’s $155 million to 2022’s internet income of $144 million. Income additionally fell sequentially from the earlier quarter’s $153 million. On a optimistic be aware, the corporate did document $29.2 million in working money move and $25.4 million in free money move within the quarter. Learn extra right here.
Illinois Hashish Gross sales Topped $1.5 Billion in 2022 Amid Slowing Progress
Leisure marijuana gross sales in Illinois completed 2022 with greater than $1.5 billion, up 13% from 2021. Complete gross sales in December had been the best of any month at $143.9 million, following a seasonal sample seen in earlier years. However the charge of gross sales progress, 4% over December 2021, was the slowest this yr, reflecting continued strain on discretionary client spending from inflation. Learn extra right here.
Columbia Care Declares Layoffs at Pennsylvania Facility
New York-based multistate operator Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) introduced it’s going to lay off 73 employees at one among its Pennsylvania hashish manufacturing amenities, efficient Feb. 28, to be able to “meet the suitable provide and demand ranges of the market.” The ability in query is run by Inexperienced Leaf Medical LLC, a subsidiary of Columbia Care, in Saxton, Pennsylvania. Learn extra right here.
Connecticut Tells Medical Marijuana Sufferers to Fill up Earlier than Rec Gross sales Start
A information launch from the Connecticut Division of Shopper Safety urged Connecticut MMJ sufferers to “keep away from strains, visitors” on Tuesday, Jan. 10, when leisure hashish gross sales launch. That’s as a result of the retail places will all be hybrid dispensaries that can promote each medical and leisure marijuana, although some retailers will stay medical-only. Learn extra right here.
IN OTHER NEWS
RIV Capital Inc.
RIV Capital Inc. (CSE: RIV) (OTC: CNPOF), a hashish packaged items firm, scheduled a particular assembly of its shareholders for June 6 at 10 a.m. EDT in response to the beforehand introduced shareholder requisition from funds which are managed or directed by JW Asset Administration LLC. JWAM has requisitioned the Particular Assembly to, amongst different issues, elect 5 new administrators to the board of administrators of the corporate. Learn extra right here.
Delta 9 Hashish Inc.
As part of its 2023 strategic plan, Delta 9 Hashish Inc. (TSX: DN) (OTCQX: DLTNF) plans to streamline its cultivation operations and right-size capability at its Winnipeg-based amenities, in addition to numerous different value slicing measures together with decreasing public firm and investor relations prices. Cultivation capability will likely be reduce by roughly 40% on the facility, which is able to outcome within the short-term layoff of about 40 workers. Learn extra right here.
AmeriCann Inc.
AmeriCann Inc. (OTCQB: ACAN) launched monetary and operational outcomes for its fiscal yr and quarter ending Sept. 2022. Income from operations elevated roughly 44% for the yr ended September 2022 relative to the yr ended September 2021, a rise of $899,268. Learn extra right here.
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Disclosure
The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are often not meant to diagnose, take care of, treatment, or forestall any sickness. All knowledge discovered proper right here is not going to be meant as another choice to or totally different from knowledge from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or totally different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.
