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Halo Collective Inc. (OTCMKTS: HCANF) enters into an Asset Purchase Agreement to allow its Wholly-owned Subsidiary ANM, Inc. to Acquire Williams Wonder Farms

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Some of the blooming trends for growth and expansion in today’s cannabis market are partnerships, mergers, and acquisitions. However, starting small is seemingly the secret for many corporations, and before long, they indulge in buy-outs. For example, Halo Collective Inc. (OTCMKTS: HCANF). Its formation was in a chicken coop in 2015, in the heart of the Oregon side of the Emerald Triangle in Medford. Today, it is a leading cultivator, extractor, manufacturer, and distributor of a range of cannabis products.

On an acquisition spree, the company has acquired William’s Wonder Farms through its wholly-owned subsidiary ANM, Inc. The duo’s asset purchase agreement permits Halo to cultivate fresh, high-quality flowers year-round in greenhouses, offer more exotic strains, and increase its total owned and managed cultivated acreage to 11 acres of outdoor cultivation in Oregon. 

“With this acquisition, we now will add significant cultivation capacity in Southern Oregon while adopting a great brand with what we believe to be one of the highest quality products…, the CEO and Co-Founder of Halo, Kiran Sidhu, affirmed

The William’s Wonder brand is well established in the Portland market. Records have it that William’s Wonder products in Oregon recorded over US$2.4 million in the unaudited year-end results 2020 sales. 

Halo has acquired several technology platforms in the recent past, including Cannalift, CannPOS, and CannaFeels. In addition, it intends to reorganize its U.S operations into a newly formed entity to be called Akanda Corp. This will facilitate the delivery of positive change in wellness and the empowering of local communities. 

Reorganization of the Company’s Board of Directors 

The resignation of Louisa Mojela from the Halo Board has occasioned the appointment of Ryan Kunkel. According to Sidhu, Kunkel has unparalleled cannabis retail experience and industry knowledge to take the company through the journey of becoming a top U.S. multi-state operator (MSO) in the western U.S. He will also be instrumental in creating the Akanda Corp. 

Meanwhile, Mojela will focus on her new role as Executive Chairman of Akanda. At the same time, Philip Van den Berg also becomes a director on the Akanda Board but continues to serve as CFO and Director of Halo. Katie Field also joins the Halo Board. 

*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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Curaleaf Holdings Inc (OTCMKTS: CURLF) Announces Revenue of $312 Million in Second Quarter of 2021

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Curaleaf Holdings Inc (OTCMKTS: CURLF) is a top global cannabis-based consumer products corporation that recently announced a $312 million revenue in Q2 F21. The company provided all this information in U.S dollars.

Key Highlights 

Total revenue recorded in Q2 F21 was $312 million, representing a year-over-year increase of 166%, compared to the $117 million reported in the same quarter of the previous fiscal year. When they excluded international business operations, total revenue came to $307 million. In the second quarter of this fiscal year, the company opened a total of five new cannabis and CBD-based dispensaries. This included a second New Jersey location, one in Illinois, two in Pennsylvania, and an adult-use retail store in Maine (the first of its kind), which pushed the company’s total to 107 dispensaries by the end of the quarter.

The retail revenue recorded by the company was $222 million, which represented a 235% year-over-year growth and 18.4% sequential growth. Robust growth in the company’s retail business operations was mainly driven by the increase in repeat clients/customers and new customer acquisition. Retail revenue made up for 71% of the company’s total revenue.

Wholesale revenue came to $89 million, which was 29% of all its revenue. Strong wholesale operation growth was driven primarily by the boost in sales productivity and new accounts additions. Gross profit recorded in this quarter was $155 million, which was a lot more than the $43 million they recorded in the same quarter of the previous fiscal year.

Senior Management

CurAleaf’s Executive Chairman, Boris Jordan, said that July is when the United States introduced the most comprehensive cannabis-related reform that the Federal government has ever proposed. Combined with the significant investments the company is making in distribution, cultivation, and production and United States state-level liberation, the CEO said that they’re developing a robust foundation for future growth. He claimed that this includes expanding their Connecticut, New Jersey, and New York markets in the short-term.  

*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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Canopy Growth Corp (NASDAQ: CGC) Records Revenue Growth of 23% in Q1 F22

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Canopy Growth Corporation (NASDAQ: CGC) is a global, diversified CBD-based and cannabis consumer product corporation that focuses on strengthening communities, ending prohibition, and improving lives by showing the true power of cannabis recently reported revenue growth of 23% in Q1 F22.

Senior Management

Canopy’s Chief Executive Officer, David Klein, said that with a robust foundation and right strategy in place, they’re confident in their ability to achieve long-term success as the company’s brands and products show how appealing they are to the consumers in their core markets. He continued to say that while they’re encouraged by the United States’ regulatory advancements, the company isn’t waiting and will continue to scale the business efforts on Canadian and U.S. soil with a new, innovative, and exciting product pipeline set for the fiscal quarters ahead.

The CEO said that the company continues to boost operational efficiencies and cost savings across the board and are quite on track to hit their target range of $150 to $200 million in the next fiscal year. He confirmed that they’re looking forward to scaling their new and improved operating model as they push their profitability goals forward.

Key Highlights 

Recorded a $136 million net revenue in Q1 F22, a 23% increase from what they reported in the same quarter of the previous fiscal year. This is was largely due to the significant double-digit growth the company experienced across cannabis products in Canada and other CBD-related consumer products. The cannabis net revenue came to about $93 million in this quarter being highlighted, which represented a 17% increase from the same quarter of the previous fiscal year.

There was a decline of 17% in total operating expenses in Q2 F22. Year-over-year reductions in R&D (research and development) and G&A (general and administrative) are one of the things that helped drive the decline of total operating expenses in this quarter. The company also reported $390 million in net earnings in Q2 F22 and $64 million Adjusted EBITDA in the same 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.
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GrowGeneration Corp (NASDAQ: GRWG) Reports $125.9 Million Revenue in Q2 F21

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GrowGeneration Corp (NASDAQ: GRWG) is a vast chain of organic garden and specialty hydroponic facilities with fifty-eight centers across twelve states, which recently announced record revenue of $125.9 million in Q2 F21. This was way more than the $43.5 million they recorded in the same quarter of the previous fiscal year. GrowGeneration also reported a record pre-tax GAAP net income of roughly $9.6 million in the same quarter, more than the $2.7 million they had in the same quarter of the previous fiscal year. In addition, they recorded a $0.11 diluted earnings per/share, tax expense included in the same quarter.

Senior Management

The company’s Chief Executive Officer and Co-Founder, Darren Lampert, said that GrowGeneration’s team managed to deliver an exceptionally robust second quarter, with a 190% increase in revenues compared to what they recorded in the same quarter of the previous financial year. The entire company managed to bring in more revenue in Q1 F21 than it did the whole of the last financial year. The CEO said that they closed twelve acquisitions this financial year, adding a total of twenty hydroponic retail sites, bringing the company’s capacity to fifty-eight. He further claimed that their ability to both buy and attract the country’s largest hydroponic operators was again evident when they signed the nation’s third-largest hydroponic operator, HGS Hydro. It looks like the strategies that were implemented by the company many quarters ago are starting to help boost margins.

Mr. Lampert said that they increased their inventory positions in all the key product sectors so that they could be well-prepared for price increases. The company also expanded its private-label purchases. He claimed that their proprietary and private-label products now make up roughly 7% of their overall sales. He said that he was both encouraged and proud with their gross profit margin, which happened despite container cost increases, supply chain interruptions, and port delays.

*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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