Inner Spirit Holdings Ltd (OTCMKTS:INSHF) reported $26.8 million (up 244% YoY) in revenues in 2020.
Its royalty revenues and system-wide retail sales are $4.2 million (up 217% YoY) and $105.3 million (up 258% YoY) in 2020. Inner Spirit reported an increase of 174% YoY to $9.2 million in sales.
CEO of InnerSpirit, Darren Bondar, said the company reported stellar growth in 2020. It is on the backdrop of operating efficiently and managing the costs.
Developments in 2021
Inner Spirit amended its bought deal offering, which is announced earlier. The underwriters such as Acumen Capital Partners, Cantor Fitzgerald Canada Corporation, and Echelon Wealth Partners Inc, agreed to enhance offering size.
As per the amended offering, the size will increase to 35.72 million units each at CAD 0.28 to generate CAD 10.001 million. The underwriters also have an option to purchase another 15% of the units at the same price.
Inner Spirit expanded Spiritleaf retail cannabis stores network across Canada in key markets.
The company inaugurated 30 franchise/ corporate retail stores under the Spiritleaf brand in Ontario, Saskatchewan, Alberta, British Columbia, Labrador, and Newfoundland.
Inner Spirit recently inaugurated a franchised store in Owen Sound, Ontario. In downtown Toronto, the company will open another franchised store soon. With the new openings, Inner Spirit will operate 82 locations in Canada to serve the communities.
Bondar said Inner Spirit ensures organic growth of its network because of the dedication and support of its employees, franchise partners, investors, strategic partners, and customers. Its strong business model attracts investments from entrepreneurs. The company plans to add more than 100 stores by the end of 2021.
Ensures safety of customers and employees
Inner Spirit has taken proactive measures to ensure its customers’ and employees’ safety while operating the Spiritleaf stores during the ongoing coronavirus pandemic.
The Select & Collect service of Spiritleaf allows the customers to order products online before picking them up in-store or delivery where permitted.
Inner Spirit engages in the operation and franchising of recreational cannabis stores under the Spiritleaf brand in Canada.
It operates 13 stores under corporate ownership and 57 franchised stores.
The Valens Company Inc. (OTCMKTS: VLNCF) Signs Agreements With APOTEKA, Fire & Flower Holdings, and Epsilon Healthcare
The Valens Company Inc. (OTCMKTS: VLNCF) has signed a distribution agreement with APOTEKA SRL. APOTEKA is part of a Costa Rican pharmaceutical firm with operations in Central America.
According to the agreement, APOTEKA will bring The Valens nuance brand with plans to include the Green Roads brands into Panama, Costa Rica, and the Dominican Republic.
The Valens Company CEO Tyler Robson said, “This partnership with APOTEKA, part of GFI Costa Rica a multiregional conglomerate with a 45-year track record, is consistent with our distribution first, asset light, growth model in international markets. The partnership represents a strategic expansion into Central America where APOTEKA will be distributing these products into regions including: Costa Rica, the Dominican Republic and Panama.”
The Valens and Fire & Flower enter agreement for Revity CBD oil
Recently the company entered a white label partnership with Fire & Flower Holdings Corp. As per the agreement terms, the company will produce Fore & Flower’s Revity CBD oil for supply across Manitoba, Ontario, and Saskatchewan with the potential of expanding to other provinces.
Fire & Flower CEO Trevor Fencott said, “We are proud to introduce our Revity CBD Oil in partnership with Valens and are confident that they will meet the experience and quality expectations of Canadian consumers. Valens’ proven manufacturing excellence and experience producing high-quality wellness products made them a clear choice to help us continue to supply the evolving CBD market in Canada.”
The Valens enters collaboration for GMP facility
Also, the company announced an exclusive collaboration with Epsilon Healthcare Limited for access to Epsilon’s GMP facility in Australia for the production of products, expanding its reach to GMP markets in the Asia Pacific, UK, Europe, and Latin America. With the expansion, the company continues the “revenue first, capital efficient” international strategy. According to the agreement, Epsilon and Cannvalate will receive access to the GMP manufacturing facility at Southport Facility in Queensland.
Halo Collective Inc (OTCMKTS: HCANF) Unveils an Outstanding Monthly Net Revenue of $3.9 Million
Halo Collective Inc (OTCMKTS: HCANF) seems pleased with its preliminary unaudited monthly net revenue, and that is for August 2021. The figures look great, and that is considering the reported $3.9 million. The discrepancy between the figure and what the company achieved in August 2020 is incredibly massive.
Explaining the stellar performance
The company witnessed a 94% increase and has given out a report to explain the outstanding performance. It cites the increased market penetration in Oregon and California. It also speaks about the gains made from some of its most recent acquisitions, including three KushBar retail cannabis stores and the Winberry Farms. The KushBar retail cannabis stores are found in Alberta, Canada.
The company excludes its acquisitions to calculate its organic revenue growth, outlining that it rose by 19% in August 2021 compared to August 2020.
The CEO and Founder of Halo Kiran Sidhu applauds the company’s team for the great efforts to push it to where it stands currently in terms of financial progress. The leader outlines that the team has been focused on delivering top-quality sales the entire summer, something that worked quite well for the company. In addition, he discloses that it did quite a lot in boosting growth in revenues.
Sidhu opines, “The expected improvement in gross margins from these initiatives combined with a significant reduction in corporate overhead over the coming quarters should accelerate our path toward profitability as we progress toward our stated goal of being a West Coast operator focused on Oregon and California. As Halo opens dispensaries in Southern California in the later part of 2021, we expect our revenue growth to continue to accelerate.”
Halo Collective Inc seems to be doing everything possible to thrive in a competitive business environment. The plan is to grow its business and scale the best way possible. It believes there is quite a lot to gain from striking partnerships with trustworthy leaders in the segment who appreciate its operational expertise in delivering top-quality products in the market.
STORA ENSO OYJ (OTCMKTS: SEOAY) to Terminate Operations at Both the Kopparfors Sawmill and the Pellet Mill, Nextleaf Solutions Ltd (OTCMKTS: OILFF) Offers Statement on the New Patent
STORA ENSO OYJ (OTCMKTS: SEOAY) has given out its final word about what it wants with the Kopparfors Sawmill and the Pellet mill. It has decided to close down the facility, outlining that it won’t stand aside and watch as it continues accumulating losses.
The company has to do the inevitable
It has been looking closely to determine whether or not there are any prospects of improvement, but it can’t find any.
Stora Enso has considered the impact of its decision and says it will do something about it. For example, it continues making plans for all the affected workers and hopes they might soon have something to do to earn a living. The one thing will be to look for other businesses interested in taking over the mill site.
Nextleaf Solutions Ltd speaks about new patent
Nextleaf Solutions Ltd (OTCMKTS: OILFF) has obtained a new patent from the United States Patent and Trademark Office. The new patent offers it all rights to focus on acetylating Cannabigerol (“CBG”), after which it will undertake the subsequent refinery of CBG-O-Acetate.
An official working with the company described acetylation as an organic esterification reaction whose performance relied more on acetic acid. The leader highlighted some commonest acetylated pharmaceuticals, and they included diacetylmorphine and Aspirin (acetylsalicylic acid).
He said that it was a moment of great excitement to witness the company gain U.S. and Canadian patents for the acetylation of both THC and CBD. He also talked about the subsequent process that entailed the refinement of THC-O-Acetate and CBD-O-Acetate.
The latest U.S. patent happens to be rather elaborate in its description of the process. It highlights it as a proprietary production process facilitating the modification of the CBG found in cannabis distillate into some form of a prodrug. The term CBG-O-Acetate happens to be a pretty common one in this regard.
Nextleaf Solutions co-founder and Chief Executive Officer Paul Pedersen opines, “We are thrilled to enhance our U.S. patent portfolio with this novel production process, that along with our Health Canada licenses, allows Nextleaf to develop and produce truly differentiated cannabinoid-based products through our Specialty Molecules Division. To the best of our knowledge, Nextleaf is the first company in the world – publicly traded or private – to be issued patents for the production of CBG-O-Acetate, a specialty molecule not legally available anywhere in the world.”