It is the dream of every corporation to stay ahead of competitive markets, diversify in its growth strategies while increasing its market share. Having put all these and other elements of success into place, SLANG Worldwide Inc. (OTCMKTS: SLGWF) has every reason to smile at the bank. The Toronto-based and global leader in the cannabis CPG sector has made its financial results for Q1 2021.
“We reported improved topline results, both year over year and sequentially, primarily driven by strength in both our core markets of Colorado and Oregon which benefited from the consolidated economics from our recent acquisitions….” Chris Driessen, CEO of SLANG, announced.
The company reported $9.9 million in revenue for Q1 2021, which was over and above the $4.7 million in Q1 2020. The company reaped big from the core markets and emerging markets, which resulted in a successful launch of new products such as the successful launch of new products.
The Gross profit improved from $2.85 million in Q1 2020 to $3.71 million in $3.71 million, and so is cash and cash equivalents which stood at $12.4 million as of March 31, 2021, compared to $6.5 million on December 31, 2020. And as the company looks forward to more robust emerging markets, it is clear that the strong cash balance will play a significant role in fuelling its expansion plans.
The Company’s Strategic Decision to expand its Board
Mr. Sam Brill and Ms. Felicia Snyder are the new appointees to SLANG’s Board of Directors as independent directors. The two executives have been part of tremendous growth in different companies and will be expected to take SLANG in the same direction.
Brill has played critical roles in corporate reorganization, strategic decisions, and financial planning. His counterpart, Snyder, has had feel in one of Canada’s most recognized cannabis brands, Tokyo Smoke, as a founding executive. She oversaw its merger with Doja Cannabis and its eventual sale to Canopy Growth. All this explains their expertise and knowledge in the cannabis sector.
BetterLife Pharma Inc. (OTCMKTS: BETRF) Announces Significant Progress in H1 2021
There are reportedly more than 265 million people across the globe suffering from depression. Unfortunately, the only available treatment is psychedelics, which again has its drawbacks, including being expensive and unpredictable side effects. This clearly explains a far-fetched unmet need. However, according to BetterLife Pharma Inc. (OTCMKTS: BETRF), it is possible to treat any neurological condition, including depression and related side effects such as hallucinations. Thanks to several human clinical trials in H1 2021.
The emerging biotech has provided substantial progress concerning H1 2021. The company scaled up the process development for GMP manufacturing. Additionally, there was an execution of several agreements with leading researchers at marquee institutions for preclinical pharmacology. Other IND-enabling studies included Nova Labs- GLP cardiac studies, Eurofins Discovery – Pharmacology and safety, ITR Labs – GLP bioavailability and toxicology, and Comparative in-vitro studies vs. LSD with the University of California San Diego.
The Development of TD-0148A for Treatment of Major Depressive Disorders
The projection for depressive and neurological disorders, which include a cluster of headaches, stands at nearly US$25 billion by 2030. However, BetterLife’s TD-0148Aa second-generation lysergic acid diethylamide (“LSD”) derivative molecule is believed to be a possible solution. And with a unique and patented manufacturing process, the company has issued patents on the synthesis of this potential treatment. The good news is that, unlike psychedelics, TD-0148A has the potential to overcome several side effects. Additionally, it does not require the presence of a therapist because it is self-administered.
The company says it is also working on a second compound, TD-010, and is projected to treat benzodiazepine dependency before developing other neurological-related disorders.
Meanwhile, it is not long ago since BetterLife Pharma Inc. recruited Mr. Henri Sant-Cassia to its Board of Directors. The co-founder of The Conscious Fund has been a serial entrepreneur since his early twenties before joining the plant medicine field. His experience also spreads out to the manufacturing, retail, and research of cannabinoid-based products. This experience in the psychedelic space will be precious in developing non-hallucinogenic compounds for mental health disorders.
Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) Takes over the Summer Season with a Suite of High-Quality and Unique Cannabis Products
More Americans will soon access legal cannabis as more states are expected to advance cannabis legalization measures in the coming years. Some of the keys for unlocking the potential of cannabis include continued innovation and execution excellence while building authentic relationships with consumers. That said, a leading consumer packaged goods company in the cannabis market, Auxly Cannabis Group Inc. (OTCMKTS: CBWTF), has announced a new set of product line-ups for the summer season.
“Canadians deserve something special after a year and a half of pandemic life, and we wanted to make sure our brands rose to the occasion… developers and marketing experts have leveraged consumer insights this summer to bring a suite of high-quality and unique cannabis products…,” Senior Vice President, Commercial, Auxly Andrew MacMillan acknowledged.
Use of Focused Strategies to Grow its Market Share
Auxly’s involvement in a strategic expansion into the dried flower market is quickly birthing results. The company has been riding on success from the dried flower offerings under its Back Forty brand. Through this brand, Auxly bagged almost 2% of the entire national cannabis flower market in June. The total achievement was a 5.2% share of the national market emanating from the successful sale of dried flowers and the company’s leadership position in cannabis 2.0 products.
According to the CEO, Hugo Alves, they have built on deep consumer insights and execution excellence. They will also continue introducing a more robust line-up of new products in line with the consumer’s needs. A suite of high-quality and unique cannabis products will take center stage this summer; vapes, edibles, oil, capsules, and concentrates, among others, and they are expected to help the company gain meaningful market share. Kolab Project, Back Forty, Foray, and Dosecann are also some of Auxly’s in-house brands the company is about to launch in the coming weeks. This will come along with unique edible products but for select provinces.
Rubicon Organics Inc. (OTCMKTS: ROMJF) Outlines its Corporate and Operational Highlights Covering the First Half of 2021
Have you ever been in a situation of sickness where you felt utterly helpless? The instituting of Rubicon Organics Inc. was at the height of the lack of high-quality, organic cannabis products for medicinal use. Its founders spent several years perfecting the art of organic cannabis greenhouse cultivation, and before long, the company became a household name. It is one of the only six Organic Certified cannabis producers in Canada with Fraser Valley Organic Producers Association (FVOPA) certification. And over the years, the company has invested in innovative and sustainable practices, from using only organic inputs to minimizing its waste and packaging.
As the Canadian cannabis market continues to increase, Rubicon Organics is also registering incredible milestones. While unveiling its operational update, the company outlined several milestones, including a 132% increase in the number of new products its Q3, 2021. Additionally, the company’s 1964 Supply Co. premium brand was introduced to New Brunswick in June 2021, listing in seven provinces. As well, five provincial distributors accepted Homestead, a mainstream brand developed for the avid cannabis consumer.
The Organization’s Corporate Highlights Demonstrating Significant Growth Potential
Rubicon Organics is focused on achieving industry-leading profitability and has a keen eye for innovation and the development of brands. Some of its flagship super-premium brands include Simply Bare Organic with a launch of 10 new SKUs and super-premium concentrate brand LAB THEORY, among others.
In its first half of 2021, the company launched Wildflower CBD Topicals, a closed organic certified extraction services’ deal with The Valens Company. In addition, it stepped into Yukon territory through a Cannabis Purchase and Sale Pact with Cannabis Yukon for the distribution of its cannabis products.
In other news, Rubicon Organics announced Cannabis Cultivators of B.C. (CCBC), a non-profit industry association. With the incorporation of Pure Sunfarms and Tantalus Labs, CCBC will work with policymakers to advocate for the growth of a responsible cannabis industry in British Columbia (B.C.). This can be viewed as a timely move given the thriving and fast-growing legal cannabis industry in B.C.