Connect with us

BUSINESS

Abattis Bioceuticals Corp (OTCMKTS:ATTBF) Keen To Expand On Its Recent Investment With New Plans To Grow Its Revenue

Published

on

Abattis Bioceuticals Corp (OTCMKTS:ATTBF) has issued a statement highlighting on plans it intends to take so as to build on its recent investment. The company has also indicated that it is expects to post impressive figures in terms of revenue this year.

Abattis has a good financial standing

Recently, the company completed a private placement which was by far over-subscribed. Additionally has reached an agreement to sale its remaining stake in Northern Vine Canada Inc to Emerald Health Therapeutics Inc. With these, the company is in a safe position financially. The company is strategically placed to benefit from the proposed legalization of recreational cannabis in Canada.

Abattis has immensely benefited from its partnership with Northern Vine. Through then partnership, the company has been accorded preferential access to a fully equipped and licensed lab. Through the lab, the company intends to expand its research program and initiate partnerships with the University of British Columbia. Abattis will seek to use this partnership to explore liposomal and nanoemulsified platform for delivery of cannabinoid-rich hemp oil. The company will work together with a Faculty Brewing Company in developing hemp-infused, cannabinoid-rich, THC-free craft beer.

Investment in XLABS Therapeutics

Recently, the company rolled out further investment in XLABS Therapeutics (ONT). XLABS Therapeutics is currently in the process of developing a lab that will sit on 10,000 square ft in Belleville, Ontario. By investing in XLABS is seeking to leverage the experience which it obtained in its partnership with Northern Vine. As part of the agreement, Rob Abenante, the CEO of Abattis will become a member of board of directors of XLABS.

In other news, Abattis has announced that it intends to proceed with a normal course issuer bid to buy up 20,986,909 common shares. This represents 5% of the company’s issued and outstanding shares. The company intends to start the bid because in many cases, its share price does not reflect its true future prospect. According to the company, the repurchase of its shares for cancelation is always in the best interest of the shareholders.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

BUSINESS

CLS Holding USA Inc. (OTCMKTS: CLSH) Announces Q1 2022 Financial and Operational Results with Revenue Up 45.5% YoY

Published

on

CLS Holding USA Inc. (OTCMKTS: CLSH) has announced financial and operational results for Q1 2022, ending August 31, 2021.

CLS reports the most profitable quarter in its history 

During the quarter, the company attained a positive net profit for the first time, making Q1 2022 the most profitable quarter to date. Net income was $427,599, with a net loss of $1.145 million for Q1 2022. Revenue growth was significant, with the company reporting a 45.5% growth relative to a year ago. Additionally, the company managed to maintain a gross margin of 52.7% in Q1 2022, YoY, allowing CLS to attain the goal of being over 50%. Interestingly, the gross margin was 44.8% up sequentially.

The company’s COO and president Andrew Glashow said, “We are beyond proud to have achieved profitability for the first time in our Company’s history, which is a feat we could not have achieved without the hard work and dedication of our team members. With the announcement of our new joint ventures and other innovative launches on the horizon, we foresee continued growth and success in the future.”

CLS Holding USA’s brands performed well in Q1 2022

CLS’s Las Vegas retail location, Oasis Cannabis Dispensary, continued to show robust results in Q1 2022, achieving a 21.39% YoY net income increase. The dispensary reported YoY growth in processed transactions. The solid numbers demonstrate the company’s ability to listen to the market and meet the needs and wants of the community.

The company’s branded division, City Trees, has maintained a considerable YoY sales increase every month for the past year. City Trees saw an overall increase of 152.41% increase in net income from the previous year’s quarter. Also, the brand achieved high ranks with tinctures and concentrates across Nevada. Notably, of all the 58 brands included in BDS analytics’ cannabis concentrates category, City Trees ranked 3rd for units sold in the quarter.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

Trulieve Cannabis Corp (OTCMKTS: TCNNF) Reopens North Port Dispensary, Formerly Harves House of Cannabis

Published

on

Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the reopening of a North Port, Florida dispensary. This dispensary located in the Sarasota area is the 92nd Trulieve location in the state and was previously named Harvest House of Cannabis.

Trulieve reopens North Port dispensary. 

When the North Port site reopens as Trulieve, it will greet Harvest patients with the same devoted personnel and high-quality service as when it closed for renovations and rebranding. Trulieve announced the completion of its purchase of Harvest Health and Recreation Inc. on October 1, with all Harvest dispensaries in Florida closed for rebranding to Trulieve. Throughout the month of October, the Company will continue to reopen Harvest sites across Florida.

The company is inviting the community to celebrate the reopening of its dispensary with all-day specials and swag giveaways. On launch day, all patients, from newcomers to long-time Trulieve patients, will be eligible for a 25% discount at the North Port facility.

Patients will find the largest assortment of CBD and THC products in Florida, including edibles, concentrates, smokable flowers, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as web-based ordering and in-store pickups.

Products available online and in-store 

Trulieve’s whole product portfolio is available for online orders to aid patients with ordering, with in-store pickup or home delivery options available across the state depending on customer preference. In addition, Trulieve provides complimentary 30-minute virtual consultations with a Trulieve expert to assist with product, device, or doctor’s suggestion questions. Appointments are available on Trulieve’s website and open to all patients, even if they are new to medical cannabis or those searching for new therapeutic choices.

The company is keeping an eye on the COVID-19 situation and is committed to limiting the virus’s spread. Trulieve requires all staff, regardless of vaccination status, to put on masks in addition to following strict cleanliness and safety measures.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

ILUS International Inc. (OTCMKTS: ILUS) Announces Award Of a $1 Million Contract For Phase 2 Burj 2020 Project

Published

on

ILUS International Inc. (OTCMKTS: ILUS) has announced that BDC Fire which it acquired on April 12, 2021, which had received three contract awards estimated at $1.5 million, has now received a $1 million contract for phase 2 of the Burj 2020 Project.

BCD Fie receives another $1 million contract 

BCD Fore had previously received a contract for fire systems installation for the Burj 2020 Tower in Dubai. The company started work on the project inQ3 2020, and the contract value for the phase is around $1 million.

The company is committed to completing the project and upcoming projects, and as a result, it is recruiting an additional 45 technicians and salespeople. Hiring more technicians puts the company in a position to apply for the lucrative A-level license for installation, supply, and maintenance of fire systems in industrial, residential, and oil fields.

ILUS Managing DirectorJohn-Paul Backwell said, “BCD Fire has achieved so much since we acquired it earlier this year and the award of this next phase of the Burj 2020 project is reward for the progress made by the ILUS and BCD teams. Obtaining the A-level license will rocket this acquisition to a whole new level. There has also been overwhelming interest from regional Fire Safety Training Companies in our new Virtual Reality Fire Extinguisher Training Courses which are being launched this month.”

FireBug and TVC received numerous purchase orders 

CEO Nick Link stated, “ILUS just closed out its best quarter yet and we are looking forward to releasing an update on this in the next week or so once the team has finished consolidating the figures. FireBug and TVC have received several purchase orders during the 3rd quarter and they have been making excellent progress, but we have felt it best to provide updates on the more significant deals in the region of $1 million and upwards or noteworthy clients.”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

Trending Stories