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Green Thumb Industries Inc (OTCMKTS: GRBIF) Has Announced Grand Opening Following the Expansion of its Rise Mundelein Store

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Green Thumb Industries Inc (OTCMKTS: GTBIF) has announced a grand opening on October 16 for its expanded store, Rise Mundelein. It will include a ribbon-cutting ceremony and a guest and patient appreciation. The mayor of Mundelein, Steve Lentz, will attend the event.

Mundelein has been an essential location for Green Thumb since opening the Rise store

According to Ben Kovler, the founder and CEO of Green Thumb, Rise Mundelein has been monumental to its growth since it became its first store in Illinois in 2015. It was also one of the first stores in Illinois to sell adult-use cannabis in 2020. As more Americans continue to use cannabis to improve their well-being, the company will use Rise Mundelein to enhance customer experience.

Mayor Lentz adds that Green Thumb has been an essential partner for the community since it opened Rise Mundelein in 2015. He also looks forward to the grand opening, which will be a chance to celebrate.

Sasha Adler Design, a prominent interior design firm, did the renovations on the store’s interior. It has an open bar to allow individualized consultations. It will also enable more educational areas, more points of sale, pop-up shops, and interactive product displays.

The store will offer a reservation-based purchase and in-store consumption of cannabis. It will be the first cannabis store in Illinois to give cannabis patients roll-through car service for pick-ups.

Services offered by Green Thumb

Green Thumb, which started in 2014, is a national cannabis company focused on selling high-quality cannabis products to consumers that enhance their well-being while also improving the community. The company has its headquarters in Chicago, Illinois.

It produces various branded products such as The Feel Collection, Rhythm, Incredibles, Dr. Solomon’s, Dogwalkers, and Beboe. It also owns several Rise dispensaries and 16 manufacturing facilities. Green Thumb has operations in 14 U.S states. It runs more than 55 licensed retail stores in the U.S.

The company has about 3000 employees who serve thousands of customers every year. It sells cannabis products in the form of concentrate, edibles, topical, tarts, pre-rolled joints, flowers, gummies, and chocolates to third-party stores or directly under its Rise and Essence stores. The company does not sell its products globally due to restrictions placed by U.S federal laws.

*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.

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Cansortium Inc. (OTCMKTS: CNTMF) Announces 9% YoY Growth In the Third Quarter of 2021

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Cansortium Inc. (OTCMKTS: CNTMF) has announced its financial results for the quarter ending September 30, 2021, in which revenue was up 9% YoY. In addition, the company executed various initiatives during the quarter, including opening two dispensaries in Florida and one in Pennsylvania.

Cansortium reported revenue of $15.6 million in Q3 2021

The company reported revenue of $15.6 million relative to $14.3 million a year ago, with Florida revenue growing 4.3% YoY to 413.1 million. Cansortium reported an adjusted gross profit of $9.8 million or 62.7% of its revenue, with adjusted EBITDA increasing 34% to $4.9 million.

CEO Robert Beasley said, “During the quarter, there was a well-publicized merger between two MSOs in Florida that created a product liquidation event, which disrupted pricing in the market. We nevertheless stood our ground on pricing, which impacted sales but enabled us to hold margins relatively well and still increase adjusted EBTIDA by 34% to $4.9 million. Due to these lower sales, we are revising our 2021 revenue guidance to $63-$66 million, however we are holding our adjusted EBITDA guidance and expect to come in at the low end of our previously disclosed range of $18-$26 million.”

2021 revenue guidance 

According to the company, revenue is expected to range between $63 and $66 million in 2021. In addition, the consortium expects adjusted EBITDA to be in the range of $18 million to $26 million, with the lower end of that range expected to be achieved. In 2020, the company reported revenue of $52 million and adjusted EBITDA of approximately $10 million.

“Pricing volatility in Florida has improved since the peak disruption in September, and as we enter the final month of the year, we continue to expect exiting 2021 at a strong run rate with full production from our increased capacity hitting shelves in February 2022. We have already seen increased yields due to environmental control enhancements across multiple facilities, and we are excited to dramatically improve our competitive positioning with greater inventory and a wider range of products to sell across our Florida retail footprint in 2022,” added Beasley.

*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.
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SLANG Worldwide Inc. (OTCMKTS: SLGWF) Reports Revenue of $10.1 Million Boosted BY High-Fidelity Acquisition

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SLANG Worldwide Inc. (OTCMKTS: SLGWF) has announced its financial results for the third quarter and nine months ending September 30, 2021.

High-Fidelity acquisition boosted revenue in Q3 

In Q3 2021, revenue was $10.1 million, helped by the acquisition of High-Fidelity Inc. in August this year, which added revenue of $1.1 million in the third quarter. In addition, the company’s brands are earning market-leading positions in the main markets of Vermont and Colorado and entered new markets of Pennsylvania and West Virginia through a partnership with Trulieve Cannabis Corp.

Interim CEO Drew McManigle said, “With the significant support from our respected strategic and investor partners, I look forward to utilizing my extensive experience in repositioning corporate operations to assist in the transformation of the SLANG operating platform. This transformation will be based on a refined strategy to appropriately position the company to achieve future sustainable revenue growth.”

SLANG received term loan financing of $17.3 million in November 

In November, the company received term-loan financing for aggregate gross proceeds of $17.3 million from Pura Vida Investments, Seventh Avenue Investments, and Trulieve. The Loan Transaction is a strong vote of confidence from each of these prestigious partners in the new leadership team’s ability to guide SLANG through the successful execution and development of its re-designed transformational growth strategy. Also, Drew Mcmanigle was appointed as Board Chairman and Interim CEO as part of the company’s executive leadership transition to position the company for profitability.

McManigle added, “During the third quarter, SLANG deepened its strategic partnership with Trulieve, expanding product availability into new markets exclusively through Trulieve retail locations, and further securing opportunities for additional revenue over the long-term. In the short time I’ve been appointed to manage the strategic transition and transformation of SLANG, we’ve made substantial progress in evaluating the go-forward structure, effectively executing prudent measures beginning with consolidating core market operations and refining our product mix. We are confident in our rightsizing agenda to create a future path to profitability, and ultimately deliver attractive returns to our 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.
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Blueberries Medical Corp (OTCMKTS: BBRRF) Posts Revenue Increase of 339% In First Nine Months Of 2021

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Blueberries Medical Corp (OTCMKTS: BBRRF), the parent of Blueberries S.A.S, has announced its unaudited condensed Q3 2021  financial results for the quarter ending September 40, 2021. The company is sticking to its approach of cutting administrative, capital, and operating costs while focusing on various revenue-generating operations.

Revenue was up 339% for the nine months of 2021

In the nine months ending September 30, 2020, revenue increased by $134,279 (339%) to $173,886 from $39,607 in the previous year. Gross margin increased to 63 percent, from $15,321 to $109,126 for the nine months while operating expenses decreased by $1,932,072 (55 percent) compared to $3,488,977 a year ago. In September 2021, the company completed a $1.9 million private placement led by Terraflos Inc. The private placement helped the company in strengthening its balance sheet by increasing its cash position to $1.8 million at the end of the quarter.

Latin America operations President Jose Forero said, “We are a sales-oriented organization, but we believe that we have a strong and robust team to thrive in an exciting but complex industry. .In the third quarter, we accomplished strong efficiencies, not only in the farm, but also in our extraction facility, where we incremented the capacity by 28% with no capex investment. We successfully exported a 150kg shipment of premium CBD oil for medical formulas to Peru and received the register from the Colombian government to both improve our strains and export seeds and cuttings. These are solid examples on how our actions are always guided by the three fundamental pillars of the company.”

Blueberries Medical minimizing fixed structure costs

The company’s new CFO, Guillermo Rodriguez, said, “Blueberries Medical Corp.’s short term strategy will be to minimize fixed structure costs and expenses, reducing capital and operational expenditures, while preserving working capital to optimize the resource and cost structure and full focus on revenue generating activities. For example, operating expenses were reduced from $1,053,831 incurred during the third quarter 2020 to current $682,665 in the third quarter of 2021, a reduction of 35%.”

*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.
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