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Innovative Industrial Properties Inc (NYSE:IIPR) Amends Lease Agreement With AWH For A Property In Barry, Illinois: Invests A Total Of $51 Million

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Innovative Industrial Properties Inc (NYSE:IIPR) signed an amended leasing agreement for Barry, Illinois based Property of AWS (Ascend Wellness Holdings, LLC)’s subsidiary. It provided additional capital of $18 million to expand the cannabis processing and cultivation facilities at this facility, including a 90,000 Sq. Ft. Greenhouse facility and for capacity enhancements at its existing 75,000 Sq. Ft. industrial property. The company also amended the base rent under the modified lease agreement to consider additional funding. Therefore, the total investment of Innovative Industrial at this property amounts to $51 million.

Leasing of other properties to AWH

Innovative Industrial also leased other properties based in Michigan and Massachusetts to AWH. It also agreed for additional improvements at these facilities to satisfy future requirements. The total investments by Innovative Industrial at these properties are $119.8 million.

Partners with experienced cannabis operators

Innovative Industrial enters into a pact with experienced cannabis operators, who engages in medicinal use cannabis business, and provides capital to run their businesses. As part of its business strategy, the company acquires the properties of those firms needing capital and gives back the properties on lease to them along with funding. Innovative Industrial is a pioneer in providing capital for the industries engaged in the medical cannabis business.

Consistent growth in Illinois

On January 1, 2020, Illinois legalized cannabis for adult use. The adult-use dispensaries in the state clocked revenues of $61 million in July 2020. Since legalization, adult-use dispensaries are posting consistent growth MoM.

Innovative Industrial owns six cannabis processing and cultivation facilities in Illinois. The company’s total investments in these properties account for $204 million for future tenant improvements as well as construction at some of the properties.

CEO of Innovative Industrial, Paul Smithers, said the company is pleased to expand its long term lease agreements for real estate with AWH. He said the team at AWH put in significant efforts to position the company as the best MSO in the state to benefit from immense market opportunities. AWH is serving the customers and patients at these difficult times with high-quality products. It also ensures commendable customer services and patient care.

The vertically integrated cannabis company – AWH holds assets in Massachusetts, Ohio, Michigan, Illinois, and New Jersey. It operates two dispensaries in Collinsville and Springfield in Illinois.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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Youngevity International Inc (NASDAQ: YGYI) Announces Changes in Some of Its Key Positions

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Youngevity International Inc (NASDAQ: YGYI) operates under three segments. Commercial coffee enterprises, commercial hemp enterprises, and multi-vertical Omni direct selling. The multi-channel lifestyle company is also keen on health and nutrition, food and beverage, home and family, spa and beauty, and other innovative services. Thanks to a multi-country selling network. It has demonstrated a remarkable fast-growing trend through aggressive person-to-person selling relationships, mergers and acquisitions, and traditional marketing. All these have played an essential role in the company’s efforts to control the potential high-growth emerging markets completely. 

New Appointments by Youngevity International Inc

Youngevity International Inc has headed to the call, which outlines the significance of having the right minds on Board to progress the company into higher levels. That said, Malone Bailey, LLP joins the company as its new independent registered public accounting firm. Also, William G. Thompson has taken up the position of Chief Financial Officer following the resignation of David S. Briskie, who is now the Company’s Chief Investment Officer. However, Thompson has had to resign from the Company of Directors to take up his new role full–time. Daniel Dorsey will take Thompson’s position on the Board with immediate effect. 

Meanwhile, Briskie will still hold onto his title as President and will be expected to continue working towards expanding YGYI’s current shareholder base. Every one of the new appointees has demonstrated impeccable competency and experience from their previous positions in the corporate world. 

And in emphasizing that they were the perfect choices for their respective roles, the CEO of Youngevity International, Inc, Steve Wallach, said, “We appreciate the dual role that Dave Briskie has played for YGYI as President and CFO of YGYI for so many years…”. Then Briskie added, “…Mr. Thompson has been a key participant on our board of director’s as Chairman of our Audit Committee and we feel he is the perfect choice to pass the torch to as our full time CFO.”

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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Village Farms International Inc (NASDAQ: VFF) Reports Sequential Growth in Branded Sales on its Q1 2021 Financial Results

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For close to 30years now, Village Farms International Inc (NASDAQ: VFF) has continued to top the charts of being one of the largest and longest-operating vertically integrated greenhouse growers in North America. The producer and distributor of premium-quality produce operate from more than nine million square feet of Controlled Environment Agriculture (CEA) greenhouses in British Columbia and Texas. Its core markets include the U.S. and Canada, with notable greenhouse partnerships in British Columbia, Ontario, and Mexico.

Village Farms’ Q1 2021 financial results are out. They have been consolidated with those of its wholly-owned subsidiary, Pure Sunfarms. The financial results portray sequential growth of 20% or more outstanding in its priority sales channel and Retail Branded Sales. The company was also on record as the top-selling brand of dried flower products with the Ontario Cannabis Store (OCS). 

“The first quarter of 2021 was yet another strong quarter for Pure Sunfarms… and is especially encouraging given the softness in the Canadian market due to pandemic restrictions, which stalled sales growth for the rest of the industry,” Village Farms CEO, Michael DeGiglio announced

The British-Columbia-based Pure Sunfarms is one of the lowest-cost greenhouse producers, one of the single most extensive cannabis operations globally, and reportedly one of the best-selling brands in Canada. 

The Strategy Now is to Become a Leading Developer and Supplier of Branded CBD products.

Village Farms leverages decades of experience in large-scale agriculture and as a producer supplier of the best-selling brands in Canada. The company has a good presence in North America and select markets internationally, where cannabis and CBD are legal. 

Meanwhile, it seeks to work on a strategy that will open more doors to becoming a developer and supplier of branded and white-labeled CBD products. The primary target is significant retailers and consumer packaged goods companies. This will be in line with the applicable U.S. federal and state laws. 

And in other news, the company has re-appointed PricewaterhouseCoopers LLP as its auditor until the next annual meeting of shareholders and the directors. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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SpeakEasy Cannabis Club Ltd (OTCMKTS: SPBBF) Provides Corporate Update for its Q1 2021 Sales and Q2 2021 Financial Results

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Canada is home to some of the top cannabis growers across the world. And like you and I know, the cannabis industry is burgeoning pretty fast, resulting in improved quarterly financials for several companies. SpeakEasy Cannabis Club Ltd (OTCMKTS: SPBBF) is one of the beneficiaries, having reported upbeat earnings for Q1 2021 from the sale of its indoor grow operations. 

According to Malcolm Davidson, CEO, everyone played a significant role in bringing home the remarkable results and amidst so many challenges. “This achievement is particularly satisfying given the challenging environment for many cannabis companies and the uncertainty in the current markets…” He reported. Their labor was not in vain. 

Convertible Loan Agreement with 10161233 Canada Limited and Bhayana Ventures Ltd

SpeakEasy Cannabis Club Ltd is set to obtain a loan from Bhayana Ventures Ltd. The loan stands at a minimum of $2.0 million and up to a maximum of $3.0 million. It will accrue interest at a rate of 6.0% per annum. The terms and conditions of the Loan Agreement dictate that the loan is payable in monthly arrears and is repayable on the second-anniversary date of the closing date. 

The borrower will cause the grant to the Lender of a first mortgage over the Guarantor’s property in Rock Creek, British Columbia, as a form of security for the loan. 

The Appointment of a New Auditor and Other Company Updates

Manning Elliott LLP has replaced Davidson & Company LLP as the auditor for SpeakEasy Cannabis Club Ltd. The replacement was occasioned by a resignation request made by the latter through the Company’s Board of Directors. On the other side, the company has also been thrown into mourning by the sudden death of Ian Waddell Q.C. He was the strategic advisor to the Board. 

In other news, the company says that preparations are underway for the 2021 growing season, and the goal is to accomplish a 100% increase in yield. In 2020, SpeakEasy Cannabis had a bumper harvest, which delivered a quality crop of flower potency 15-18 % THC.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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