Connect with us

BUSINESS

Aleafia Health Inc (OTCMKTS: ALEAF) Introduces Innovative Cannabis Flower: Reports Revenues Of $15.23 Million In Q4 2020

Published

on

Aleafia Health Inc (OTCMKTS: ALEAF) introduced several innovative cannabis dried and derivative formats on receipt of the licensing for its three cannabis manufacturing facilities. The company reported a growth of 152% to 15.203 million in Q4 2020. However, its net loss has widened to $217.301 million in Q4 2020 from $9.759 million in Q4 2019.

The company wrote down intangible asset expenses of $22.1 million in Q4 2020. It comprises the write-off of $10.6 million related to Aleafia’s 51% stake in the JV – Flying High Brands. The company now focuses on developing its brands to drive growth.

Aleafia also wrote down good-will expenses of $176 million and $1.4 million related to the takeover of Emblem Corp and Canabo Medical Corp.

Records sequential growth

Geoffrey Benic, Aleafia’s CEO, said the expanded product line helped the company to post record revenues in Q4 2020.

The company reported sequential growth in medical, adult-use, and global cannabis sales. It posted a positive adjusted EBITDA through its focus on disciplined growth and profitability despite incurring one-time expenses.

Aleafia is reporting positive revenues by selling highly profitable PCP (profitable cannabis products). Medical cannabis revenues in Q4 2020 are $2.7 million (up 57% YoY).

Its registered and active patient community, along with improved product launches and same-day delivery service, are driving the growth of Aleafia. The revenues of adult-use cannabis products are reported at $1.4 million (up 133.33% YoY) in Q4 2020.

31 cannabis product SKUs

In the earlier 2020, Aleafia received Health Canada approval to commence developing and manufacturing innovative cannabis products. As a result, the company introduced 31 SKUs from  October 2020 to boost its revenues.

Embracing the improved cultivation capacity, Aleafia added larger format SKUs (Stock Keeping Units) like 12 pre-rolls and improved its product availability.

The company entered a supply accord with Robes Cannabis Inc, a cannabis brand house. As a result, it unveiled Wedding Cake and Afghani Bullrider strains in 3.5-gram containers.

Aleafia introduced CBD 50, the high CBD cannabis oil, in December 2020 to offer high potential oil to the customers.

Aleafia also launched cannabis blended sublingual strips – Kin Slips in Q4 2020 for the adult-use and medical-use markets.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

BUSINESS

Tinley Beverage Company Inc (OTCMKTS:TNYBF) Ships First Batch Of Third Party Products From Its Long Beach, California Based Facility

Published

on

Tinley Beverage Company Inc (OTCMKTS:TNYBF) shipped its first batch of third-party products manufactured at its Long Beach, California-based facility. Also, a leading cannabis and cannabidiol beverage brand – Good Stuff Beverage Co will move its natural tonics production to Tinley’s facility.

Good Stuff’s classic flavors comprise a new and terpene-infused formula. It will demonstrate the launch of high dose and strain-specific tonic.

Its product line comprises the Original Honey Lemonade, Sativa Energy, and Indica Calm. Consumers can use a resealable bottle cap to take an exact dose and sip easily.

President (West Coast USA) of Tinley, Rick Gillis, said any company usually faces challenges in manufacturing fruit-infused drinks while ensuring shelf stability and quality. Its team of food process and quality experts and specialized production equipment will play a vital role in delivering the required stability and consistency for this fruit-derived brand.

The cannabis community in California has well-accepted the products of Good Stuff. Therefore, they will love to receive enhanced formula-based products from Good Stuff.

Co-founder of Good Stuff, Daniel Grim, said Good Stuff Beverages is an excellent Tinley value proposition. The custom-built equipment and talented team of Tinley will help Good Stuff in its scalability.

Distribution boost through retail in Alberta

Tinley said its product distribution continues to improve through enhanced retail stores in Alberta. It also receives requests from provincial buyers for cannabis products.

According to a communiqué from local agents, the company received commitments or listings for its ready-to-drink cocktails and Beckett’s non-alcoholic spirits at 30 retailers across Alberta. The company is excited to receive reorders within one week of the initial listings.

Raises $850,000

Tinley raised a capital of $850,000 through a non-brokered private placement of 2.125 million units at $0.40.

Manufactures zero-calorie sparkling drinks

Tinley is pleased to announce that its Long Beach facility will manufacture Calexo’s four preservative-free juice beverages and zero-calorie sparkling drinks.

Innovative cannabis blended sparkling waters, which are branded as Watercolors, will be blended with 5mg THC and natural botanicals in a 12oz bottle. It is developed for those looking to replace alcohol.

Continue Reading

BUSINESS

Pao Group Inc. (OTCMKTS:PAOG) Expanding Its Neutraceutical Revenue Streams

Published

on

Pao Group Inc. (OTCMKTS:PAOG) has announced that it expects revenue expansion this year from CBD neutraceuticals. The company published an online and multimedia presentation showing its CBD nutraceutical development expansion plans. Most importantly, the presentation includes its strategy engagements with Puration Inc. (OTCMKTS:PURA), Alkme Holdings Inc. (OTCMKTS:ALKM), and North American Cannabis Holdings Inc. (OTCMKTS:USMJ).

Pao Group acquired RespRx in 2020

Last year, the company completed the acquisition of RespRx, a cannabis medication currently under development for the treatment of Chronic Obstructive Pulmonary Disorder derived through a patented marijuana extraction method. According to WHO, around 65 million globally have moderate to severe COPD, with around three million deaths reported each year. COPD treatment market is estimated to be around $5 billion in the US and $11 billion globally.

Notably, GW Pharmaceuticals has set the base for cannabis treatment and recently was valued at $7.2 billion. The patented extraction method inventor Frederic Ferri said that doctors researching their feedback have given feedback regarding the feedback’s superiority compared to those of GW Pharmaceuticals.

Pao Group recently entered an engagement with Veristat Inc. to assist in advancing its novel CBD extract for COPD treatment towards an IND with the  US FDA. The company recognizes and acknowledges that pharmaceutical development will be a capital intensive and long-term undertaking. As a result, Pao Group is pursuing complementary business initiatives that can generate revenue in the near term and contribute to funding the RespRx development in the long term.

Pao Group expanding nutraceutical development

Besides efforts to develop COPD treatment, the company also announced that it has engaged Puerto Rico Consortium for Clinical Investigation to help it develop novel CBD extract into nutraceutical products for the care of individuals experiencing issues related to COPD. Pao Group management is confident that CBD extraction knowledge base and experience can help pursue the development of more neutraceuticals.

As a result, doing so will expand the company’s overall near-term revenue potential. The company expects revenue this year from neutraceuticals following the recent sales agreement with Puration. The company expects revenue of $50,000 each quarter.

Continue Reading

BUSINESS

Body and Mind Inc (OTCMKTS:BMMJ) Posts A Growth Of 300% YoY In Revenues In Q2 2021

Published

on

Body and Mind Inc (OTCMKTS:BMMJ) reported a stellar growth of 300% YoY to $6.31 million in Q2 2021. Its profits also surged by a whopping 400% to $2.74 million.

Operational highlights

Body and Mind’s subsidiary took full ownership of ShowGrow Long Beach dispensary in California on August 28, 2020, to consolidate revenues. ShowGrow allows purchase online besides offering curbside pickup.

In California, ShowGrow San Diego dispensary offers curbside pickup service besides delivery service and online ordering options.

The sale of Body and Mind branded products is commenced through all dispensaries across Nevada and Las Vegas. Following the receipt of approval for expanding the cultivation canopy, the company completed the cultivation space expansion. The company expects to improve the output by 20% from its new flowering rooms.

The company is pleased to receive a license from Nevada State. It will introduce a female-focused brand in alliance with its brand partner – Her Highness, in the market of Las Vegas.

Body and Mind’s ancillary took over the Clubhouse dispensary’s full stake in Ohio to consolidate revenues with effect from September 4, 2020. It renamed the dispensary as Body and Mind in September 2020. The company expects to complete the construction of the NMG manufacturing facility in Ohio in April 2021.

Body and Mind received the best dispensary award in Arkansas. The company commenced online ordering and delivery services in Arkansas.

CEO of Body and Mind, Michael Mills, said the company reported robust results and maintains a healthy balance sheet in Q2 2021. Michael further said the customers well accept its curbside pickup and delivery services for cannabis products.

Expects to improve revenues in 2021

Body and Mind’s team is working with state and local inspectors to receive final permits for its cultivation facility in Arkansas. It is also finalizing the construction of a manufacturing facility in Ohio. Both of these facilities expect to improve the revenues of Body and Mind in 2021.

Comprehensive Care Group, LLC and Body and Mind began cultivation operations at West Memphis on April 6, 2021, close to the Tennessee border.

Arkansas holds a total of 32 dispensaries. It expects to operate additional six dispensaries soon.

Continue Reading

Trending Stories