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MGC Pharmaceuticals Ltd (OTCMKTS:MGCLF) To Import Cannabis Products To Australia After Award Of Importation License

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MGC Pharmaceuticals Ltd (OTCMKTS:MGCLF) has successfully received an Import License from the Australian Office of Drug Control, which allows the company to import Schedule 4 and 8 medical cannabis products to the country.

MGC Pharma direct importation license for cannabis products to Australia

The receipt of the license comes after the Western Australian Department of Health issued an Indent Wholesale License to the company on May 26, 2020. This license enables the company to import a variety of medicinal marijuana products from its European facility. For MGC Pharmaceuticals, this is an opportunity to enhance its operations in Australia as it will now directly import prescription-only cannabis medication under Schedule 4 as well as controlled drugs under Schedule 8 into Australia.

Previously Cannvalate and Health House International has been facilitating the importation of the products, but now the company will directly import from its European facility. The bulk importation will significantly reduce logistics and handling fees for the company and thus help save costs. Equally, it will support MGC Pharmaceutical’s business model by offering high quality and affordable medical cannabis products to patients. Also, the license progresses the MGC Pharma towards becoming a vertically integrated biopharmaceutical company with operations globally.

MGC Pharma to expand its product offerings in Australia

Most importantly, the company can now import bulk products that will be stored, distributed, and sold across Australia via its commercial channels. The company will expand its importation to include a variety of products from the Mercury Pharma brand such as MP25T (25mg/ml THC) and MP1:1 (25mg/ml THC:CBD). The company will continue working with Cannvalate as well as other partners in distributing its novel products across the country at very competitive pricing points.

MGC Pharmaceuticals managing Director and Co-Founder Roby Zomer indicated that the receipt of the importation license is a huge milestone for the company and its operations in Australia. Zomer indicated that it will result in logistic savings and thus enable the company to become cost-effective while at the same time expanding its product offerings to Australian customers.

[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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Green Thumb Industries (Green Thumb Industries) Announces a Sequential Revenue Increase of 9.7% in its Q1 2021 Financial Results

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For hundreds of industries servicing the American economy, the pandemic was an absolute disaster. However, the cannabis industry may not have felt the impact, given that legal cannabis sales in the US counted for a 46% increase in 2020 compared to the previous year. Companies such as Green Thumb Industries (Green Thumb Industries) have reported increased revenue, having implemented online ordering in many markets.

In its Q1 2021 financial results, the leading national cannabis consumer packaged goods company has outlined a sequential revenue increase of 9.7% and 89.5% year-over-year to $194.4 million. This was over and over and above the $102.6 million obtained in 2020. Meanwhile, EBITDA for Q1 2021 was $66.5 million or 34.2% of revenue compared to $20.3 million or 19.7% of revenue in 2020. 

Green Thumb generated its Q1 2021 Revenue From its 12 Markets.

Green Thumb is one of the 15 largest commercial marijuana sellers in the world. The company’s mission is to promote people’s well-being through the power of cannabis products. The company has operations in 12 locations in the US, which played a crucial role in generating the Q1 2021 revenue. In addition, expanded distribution of branded products and the opening of 13 new stores, and increased traffic in the company’s 56 operating retail stores improved the overall performance. 

And as if this expansion is not enough, Green Thumb Founder and Chief Executive Officer Ben Kovler commented, “We are excited to expand our east coast footprint by signing an agreement to enter the Virginia cannabis market. This follows the recent sweep of adult-use legalization measures across Virginia… where we see material untapped market potential….”

Support for Ideas That Expand Collective Consciousness around Cannabis

Green Thumb is a big advocate for the possibilities in the Cannabis industry, which supports people’s well–being. This is why it is keen on new markets, acquisitions and mergers. Its entry into the Virginia cannabis market was through the strategic acquisition of Dharma, one of only five licensees in the Virginia medical cannabis market allowed to grow, process, and retail cannabis directly to patients. Completion of the acquisition will give Green Thumb a footprint of five additional retail locations in the Commonwealth.

[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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Losses vs. Gains; Healthier Choices Management Corp. (OTCMKTS: HCMC) Announces a 14% Decline in Net Sales Operations in Q1 2021 Financial Results

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Healthier choices are not just about eating a balanced diet, according to Healthier Choices Management Corp. (OTCMKTS: HCMC) (HCMC). The US-based company puts a lot of emphasis on the need to embrace healthier alternatives to everyday lifestyle choices. In addition, the company specialized in providing fantastic products, which support the personal betterment of one’s lifestyle. Meanwhile, it has made public its Q1 2021 financial results, and its highlight is in an Adjusted EBITDA improvement of 9% year-over-year compared to 2020.  Another is a 15% decrease in total operating expense, which was approximately $2.0 million. 

However, Net sales from operations decreased 14% to approximately $3.5 million compared to the same period last year. This may have been occasioned by the sales surge in the grocery segment attributed to COVID-19. Nonetheless, HCMC’s CEO, Jeffrey Holman, sounded quite optimistic about a possible operational improvement.

He said, “We are pleased with our first quarter results which reflect the normalizing of sales and the increasingly improving momentum of our operating cost reductions. We continue with our commitment to better the fundamentals of our operations.” 

HCMC’s Ownership of an Intellectual Property Suite

You are what you eat, and HCMS is quickly positioning itself as a leader in healthy living. It is a strong advocate of being natural in nutrition. Through its wholly-owned subsidiary HCMC Intellectual Property Holdings, LLC, the company owns an Intellectual Property suite with Patents issued in both the United States and Canada. 

Its ownership of three Paradise Health & Nutrition locations in the greater Melbourne, FL area and an 18,000 sq. ft. full-service grocery store, Ada’s Natural Market, explains its drive to serve the local communities with natural foods. The stores feature aisles of traditional grocery complete with frozen, healthy home, vitamins, and supplements. Additionally, through its seven vape stores across the southeast United States, smokers have plenty of alternatives for their smoking needs. The vaping stores stock an endless selection of industry-best vaping hardware and e-liquids from high-quality brands.

[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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GrowGeneration Corp. (NASDAQ: GRWG) Introduces Power Si into the Canadian Marketplace

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Power Si, a proprietary brand operated and owned by GrowGeneration Corp. (NASDAQ: GRWG), has found its way into the Canadian market through an exclusive distribution agreement with GreenPlanet Wholesale. The Green planet is one of Canada’s most trusted hydroponic distributors, and according to the Founder of Power Si, Rex Gill, it met all the requirements they needed. Power Si is already available in North America. Its original patented formula of mono-silicic acid has consistently proven that it is a “must-have” for new and experienced growers. It has enriched the yield, strength, and lateral branching of crops. 

The Tremendous Demand for Power Si

GrowGen’s robust inventory of over 10,000 products includes organic nutrients, soils, and advanced lighting technology, among others. Hence, it has become a one-stop e-commerce destination for commercial and craft growers. 

There has been a considerable demand for Power Si in the United States. And as a result, Gill says they are excited to bring the long-awaited and leading mono-silicic acid product into the Canadian Marketplace. Mark Walman, the Chief Operating Officer for GreenPlanet Wholesale, has also added his enthusiasm for having partnered with the great team behind Power Si. 

“We are thrilled that, at long last, Canadians will have the opportunity to experience firsthand what Power Si brings into their gardens… At GreenPlanet Wholesale, we are committed to bringing our customers the best products the industry has to offer…,” Walman remarked

The Launch of an E-Commerce Platform by GrowGeneration

Currently, GrowGen owns and operates 55 stores in 20 locations. The company uses high-end equipment in its indoor and outdoor operations. Additionally, it has gone a new milestone and launched a Buy Online Pickup in Store (BOPIS) platform. The emerging retails trends and the global COVID-19 pandemic accelerated the need for this move leading to the redesigning of the company’s website. Besides, customers want the ease and convenience of online shopping as they get away from shipping delays and pickup charges. 

Through the addition of Buy Online Pick Up, the company expects to have an enlarged footprint while increasing in-store and online revenue.

[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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