The move by MARIMED Inc (OTCMKTS:MRMD) to sign a letter of intent with Cannabis Venture Partners has been applauded by market observers who believe the business guru is on track towards achieving immense business success. Making this strategic investment is a matter that has been discussed by the board for over quite a long period of time. It is a great thing that they have eventually reached such a resolve.
Robert Fireman perspective
Robert Fireman is the current CEO of MariMed. According to him, both Cannabis Venture Partners and MariMed have all along been sharing a common vision and ambition. It has been about the delivery of top-notch experiences to quite a significant number of cannabis businesses and consumers worldwide.
It was in a recent interview that he expressed his excitement in line with the growth potential of the new investment and partnership opportunity. Much is being done currently in line with the way cannabis businesses move about their business operations and marketing endeavors.
Jon Levine is the current CFO of MariMed and he thinks highly about Sprout’s marketing engine. He says that it is the reason as to why MariMed has managed to move ahead with the acquisition of new customers.
Turn of events
It is also the same thing that has kept them running back to it. He says that they have been employing its technology for so long and will keep using it. According to him, it is the topmost CRM and marketing platform in the diverse and massive cannabis industry.
The other thing is about Navy Capital Green Fund’s latest move. It has resolved to make a $2.0 million investment in MariMed. Navy Capital portfolio manager Sean Stiefel is quite pleased about their new investment. He has termed it to be a part of their continued growth in Maryland and he is also looking forward towards the establishment of new projects in some additional states.
MariMed has also revealed its acquisition of iRollie LLC together with its wide range of products and services as well as its intellectual property. The major changes are expected to help the company fetch higher revenue streams in future.
The Tinely Beverage Company Inc. (OTCMKTS: TNYBF) Resolves Dispute With A contractor For Long Beach Facility
The Tinely Beverage Company Inc. (OTCMKTS: TNYBF) has announced that it will install an upgraded mini line in the Long Beach facility as part of its comprehensive resolution of the dispute with a vendor for the Long Beach Facil
Tinley settles complaint with contractor
In July last year, one contractor that was retained by the engineering company managing the Long Beach facility buildout filed a third-party complaint against the engineering firm. The complaint was associated with the work the contractor had carried at the facility. Although Tinley was not part of the contract, it was named and its landlord in enforcing the mechanics lien placed on the facility. Thus, a dismissal with prejudice is already filed on behalf of the company, its affiliates, and the landlord.
According to the settlement terms, Tinley paid the contactor a reduced payment on behalf of the engineering in return for an agreement to install and supply an upgraded mini line at the facility at a discount. As a result, Tinley believes the total cost of this settlement related to dismissal and discounted mini line has been contracted at a lower price than what the company could have incurred if it had acquired and installed the mini line through other vendors.
Tinley closes non-brokered private placement
Recently Tinley closed a non-brokered private placement of 12.44 million units for gross proceeds of around $1.866 million. Out of the units sold in the Offering, Richard Gillis, who was appointed recently to the COO and president of Tinley’s USA, subscribed for one million units. Gillis’s investment increased his position to 2 million common shares.
Gillis said, “I made this investment to demonstrate my confidence in Tinley’s growth trajectory. Our canning line nearing completion provides us with our third packaging production option, and our tunnel pasteurizer plus the additional upgrades we are now engineering allow us to offer a broad menu of paths to production to satisfy Q4 customer demand.”
CLS Holding USA Inc. (OTCMKTS: CLSH) Announces Q1 2022 Financial and Operational Results with Revenue Up 45.5% YoY
CLS Holding USA Inc. (OTCMKTS: CLSH) has announced financial and operational results for Q1 2022, ending August 31, 2021.
CLS reports the most profitable quarter in its history
During the quarter, the company attained a positive net profit for the first time, making Q1 2022 the most profitable quarter to date. Net income was $427,599, with a net loss of $1.145 million for Q1 2022. Revenue growth was significant, with the company reporting a 45.5% growth relative to a year ago. Additionally, the company managed to maintain a gross margin of 52.7% in Q1 2022, YoY, allowing CLS to attain the goal of being over 50%. Interestingly, the gross margin was 44.8% up sequentially.
The company’s COO and president Andrew Glashow said, “We are beyond proud to have achieved profitability for the first time in our Company’s history, which is a feat we could not have achieved without the hard work and dedication of our team members. With the announcement of our new joint ventures and other innovative launches on the horizon, we foresee continued growth and success in the future.”
CLS Holding USA’s brands performed well in Q1 2022
CLS’s Las Vegas retail location, Oasis Cannabis Dispensary, continued to show robust results in Q1 2022, achieving a 21.39% YoY net income increase. The dispensary reported YoY growth in processed transactions. The solid numbers demonstrate the company’s ability to listen to the market and meet the needs and wants of the community.
The company’s branded division, City Trees, has maintained a considerable YoY sales increase every month for the past year. City Trees saw an overall increase of 152.41% increase in net income from the previous year’s quarter. Also, the brand achieved high ranks with tinctures and concentrates across Nevada. Notably, of all the 58 brands included in BDS analytics’ cannabis concentrates category, City Trees ranked 3rd for units sold in the quarter.
Trulieve Cannabis Corp (OTCMKTS: TCNNF) Reopens North Port Dispensary, Formerly Harves House of Cannabis
Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the reopening of a North Port, Florida dispensary. This dispensary located in the Sarasota area is the 92nd Trulieve location in the state and was previously named Harvest House of Cannabis.
Trulieve reopens North Port dispensary.
When the North Port site reopens as Trulieve, it will greet Harvest patients with the same devoted personnel and high-quality service as when it closed for renovations and rebranding. Trulieve announced the completion of its purchase of Harvest Health and Recreation Inc. on October 1, with all Harvest dispensaries in Florida closed for rebranding to Trulieve. Throughout the month of October, the Company will continue to reopen Harvest sites across Florida.
The company is inviting the community to celebrate the reopening of its dispensary with all-day specials and swag giveaways. On launch day, all patients, from newcomers to long-time Trulieve patients, will be eligible for a 25% discount at the North Port facility.
Patients will find the largest assortment of CBD and THC products in Florida, including edibles, concentrates, smokable flowers, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as web-based ordering and in-store pickups.
Products available online and in-store
Trulieve’s whole product portfolio is available for online orders to aid patients with ordering, with in-store pickup or home delivery options available across the state depending on customer preference. In addition, Trulieve provides complimentary 30-minute virtual consultations with a Trulieve expert to assist with product, device, or doctor’s suggestion questions. Appointments are available on Trulieve’s website and open to all patients, even if they are new to medical cannabis or those searching for new therapeutic choices.
The company is keeping an eye on the COVID-19 situation and is committed to limiting the virus’s spread. Trulieve requires all staff, regardless of vaccination status, to put on masks in addition to following strict cleanliness and safety measures.