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Medmen Enterprises Inc (OTCMKTS:MMNFF) Updates On Equity Financing Deal

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Medmen Enterprises Inc (OTCMKTS:MMNFF) has finalized a letter of engagement with entity named as Eight Capital. As per this deal, Eight Capital will purchase, together with Cormark Securities Inc. and a syndicate of underwriters, around 13.63 million units of the firm on a bought deal basis at a price a unit of CAD$5.50 for gross proceeds of around CAD$75 million. The deal is subject to custom approval regulations.

The buzz

Medmen reported that it plans to use the net proceeds from this offering for expansion of its retail presence across distinct cannabis markets, advancement of its production and grow facilities, general corporate and working capital purposes. The company has 19 licensed facilities spread across New York, Nevada and California. More recently, the company reported the acquisition of a Florida license. Medmen reported that the offering is scheduled to be closed on or about September 28, 2018.

In the month of July, Medmen Enterprises secured prime retail sites with long term leases in Miami Beach, Ft. Lauderdale, St. Petersburg, Key West and West Palm Beach. The firm continues to expand its presence in leading retail districts with heavy foot traffic and high visibility.

In other developments, Medmen Enterprises reported that it has closed the deal it reported in the month of June, linked to buying a dispensary and grow license, and related assets from Treadwell Nursery.

The License allows the firm to open 30 medical marijuana dispensaries in Florida and to carry out grow, delivery and manufacturing activities in the State of Florida. Under this deal, the company has also bought Treadwell Nursery’s grow facility situated near Orlando. This permit is one of exclusive 14 licenses in the state. Adam Bierman, the CEO and Co-founder of Medmen, stated that their entry into Florida via this deal showcases their expanding national footprint and their ability to execute.

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CLS Holdings USA Inc (OTCMKTS:CLSH) Posts Revenues Of More Than $2 Million In March 2021

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CLS Holdings USA Inc (OTCMKTS:CLSH) posted revenues of more than $2 million (up 92% YoY) from its subsidiaries based in Nevada in March 2021.

The company reported the highest revenues in its history in a single month from its retail and wholesale subsidiaries. Its margins also rose by 48%.

Oasis Cannabis

Oasis Cannabis, a retail subsidiary of CLS Holdings, reported growth of 100.3% YoY in March 2021 to more than $90,358 in revenues. Its average order size rose by 31.2%, together with a 51.2% increase number of transactions.

City Trees

City Trees, the branded wholesale division of CLS Holdings, recorded a growth of 70.5% YoY in March 2021 to $502,140 in revenues. Its orders rose by 150% YoY in March 2021.

CLS Holdings overcame the slow growth reported in March 2020 because of coronavirus impact by posting higher revenues in the past month. The company also commenced construction for an in-store pick-up facility, which will become operational in April 2021 and improve traffic.

Andrew Glashow, COO, and President of CLS Holdings, said its teams improved their efficiencies despite the same constraints imposed last year. As a result, the company posted better revenues this year.

Therefore, the company expects to provide services 24 hours a day to report better than expected revenues compared to last year.

Operational achievements in Q3 2021

CLS Holdings posted a growth of 44.7% YoY to $4.544 million in Q3 2021. Its margins are improved by 45.2% in this quarter.

CLS Holdings commenced extraction services in January 2021. Additional five mixes of cannabis distillate oil of City Trees are added to the company offerings. City Trees posted a growth of 97.5% YoY in Q3 2021.

Receives the nod to reduce the conversion price

CLS Holdings received the nod of CSE and shareholders in March 2021 to reduce the conversion price of each unit to $0.30 from $0.80 for all the outstanding debentures worth $13.5 million. The maturity date of debentures extended to December 12, 2022, from December 12, 2021. It shows the confidence of investors in the management of CLS Holdings to deliver high-quality products at reduced rates by executing its business plan.

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Skylight Health Group Inc (OTCMKTS:SHGFF) Inks A Deal With A Leading Clinical Research Group – ClinEdge

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Skylight Health Group Inc (OTCMKTS:SHGFF) signed a deal with ClinEdge in April 2021. The deal allows the company to offer sponsored trials to Massachusetts-based primary care practices.

Besides promoting clinical research, the pact shows the value of the diversity of Skylight in healthcare services in the US.

Full suite of services

With more than 10 years of experience in partnering clinical research (CR) sites with research sponsors, ClinEdge offers a full suite of support services for the clinical research institutions, sponsors, and CROs.

Its main target is developing and improving service lines at affordable rates besides ensuring accuracy and timeliness of administering CR. The company’s established relationships with Clinical Research Organizations (CROs) and industry sponsors promote the successful generation of leads for clinical trials.

The company closely works with CR sites to receive CR trials from reputed and experienced industry sponsors. CR Manager of Skylight, Alisha Garibaldi, said entering pacts with partners like ClinEdge shares its vision on promoting quality CR that benefits the patients and improves its growth. It also ensures the growth of the healthcare systems in the US on a large scale.

He further said the company is excited to enter a deal with ClinEdge, which provides unparalleled experience in the CR.

The experience of ClinEdge allows the teams at Skylight to engage in CR trials that investigate a wide gamut of indications beginning with Massachusetts-based clinical sites. It allows Massachusetts-based patients to participate in clinical trials and enjoy new therapies, vaccines, and treatments.

Contributes to the medical sciences community

Skylight, which knows the value of clinical research, intends to offer the best care to its patients besides contributing to the medical sciences community at large. After achieving success at Massachusetts CR, the company intends to replicate the same across the US by expanding partnerships.

The clinical trial opportunities that ClinEdge will bring comprise post-traumatic stress disorder, COVID-19, arthritis, diabetes, and hypertension. Skylight will offer trial opportunities to its existing patients and individuals interested in taking part in the CR.

Skylight will earn up to $15,000 for each patient trial. It will offer a stipend to the patients who took part in the clinical trial for their efforts and time.

Skylight will report Q4 2020 and full-year earnings on April 20, 2021.

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Can B Corp (OTCMKTS:CANB) Takes Over Talents And Assets Of Hemp Derivative Development And Manufacturing Group

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Can B Corp (OTCMKTS:CANB) took over a hemp derivative development/ manufacturing group’s talent and assets. Botanical Biotech LLC, its newly created subsidiary, will be its R&D and extraction facility based in Florida.

Can B will use Botanical Biotech, which President – Bradley Lebsock will be headed for developing and implementing its innovative pharmacokinetics technology. Botanical Biotech will also partner with emerging and global brands in developing innovative products/ solutions for wellness benefits.

Botanical Biotech engages in optimizing plant-based formulations to provide bioactive compounds and offers a consistent experience for the consumers in the long term. It will improve the solubility and absorption of bioactive compounds using various strategies.

Botanical Biotech’s expertise allows manipulating the molecules and offering economic formulations together with articulating the distinct value propositions of a formula using its communications and marketing teams.

Expertise in extracting hemp isolate

The Botanical Biotech team is experienced in extracting hemp isolate into CBN, CBG, and other cannabinoids. CBG and CBD are non-intoxicating cannabinoids and provide anti-inflammatory effects to your body. They will not create any high and offers only health benefits.

The CEO of Can B, Marco Alfonsi, said the company is thrilled to bring Bradley’s team under one umbrella and use their scientific approach to develop innovative products besides the existing products. Botanical Biotech’s science-based technology and product development expertise help Can B’s proprietary brands as well as Pure Health Products manufacturing facility based in WA.

Mobilizes $2.8 million

Can B generated $2.8 million cash through a debt financing deal from an institutional investor. The company will use these funds to pay all the convertible notes outstanding as of today. It will also use a certain portion of the funds and Reg A offering for working capital needs to promote growth in 2021.

Can B has started its operations in 2021 with an enhanced zeal. The company developed a vertically integrated platform to control its products from seed-to-sale offering high-quality products to the consumers in the previous year.

Its Pure Health Products expects to achieve GMP certification in Q1 2021. Pure Health Products also secures new white label clients.

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