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SLANG Worldwide Inc. (OTCMKTS: SLGWF) Reports 147% YoY Revenue Growth In Q2 2021

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Tetra Bio Pharma

SLANG Worldwide Inc. (OTCMKTS: SLGWF) has released its Q2 2021 financial results and also offered corporate updates. 

SLANG posted revenue of $11.3 million in Q2 2021

The company reported revenue of $11.3 million in Q2 2021, a 147% YoY growth driven by demand rebound in the company’s key markets of Oregon and Colorado and wholesale revenue consolidations. Equally, strength in emerging markets contributed to sequential revenue growth and the launch of new products such as Lunchbox Alchemy CBD. As a result, the company’s adjusted EBITDA was $0.95 million compared to $1.8 million a year ago and around $10,000 more from Q1 2021. The reduction is attributed to an increase in revenue and operating expenses reduction. 

CEO Chris Driessen said, “This was our fourth consecutive quarter of growth, with quarterly revenues reaching a record $11.3 million, an impressive 147% increase from the prior year period and a 14% increase from Q1 2021. Our record revenue during the quarter, together with improved operational efficiency, also led to an improvement in profit when compared with the prior year and prior quarter results. These improved topline and bottom-line results, both year over year and sequentially, were primarily driven by modifications in the operations in our Core Markets of Colorado and Oregon as we benefited from our consolidated supply chain. Our Colorado Core Market was the primary growth driver during the quarter, incurring the bulk of the increased demand.”

SLANG acquired Allied Concessions Group

During the quarter, the company closed Allied Concessions Group Inc.’s acquisition despite consolidating its income since the end of last year. Equally, the company enhanced its position in emerging markets with to9he launch of new products and brand extensions. 

Driessen added, “Looking ahead, SLANG is well positioned to leverage its cumulative operational experience from its Core Markets of Colorado and Oregon and is looking to rapidly expand in Vermont following our recent acquisition of HI-FI, the largest medical cannabis company in the state.”

*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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CLS Holdings USA Inc. (OTCMKTS: CLSH) Announce That City Trees Was Acknowledged in the LeafLink 2021 List

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CLS Holdings USA Inc. (OTCMKTS: CLSH) has announced the release of LeafLink List today by LeafLink, acknowledging standout cannabis products, retailers, and brands in its Business-to-Business platform that processes more than $4.4 billion in wholesale cannabis orders annually.

City Trees named the bestselling THC distillate brand 

City Trees, the fastest growing and bestselling THC distillate, was named a winner in the Concentrate category. Currently, City Trees creates THC distillate oil for a range of cannabis products out of its state-of-the-art extraction facility in North Las Vegas, making them a truly unique and local business. Also, City Trees has been relentless in its efforts to gain considerable market share inside the concentrate segment as well, having already been acknowledged as Nevada’s number one selling tincture brand.

Chief Operating Officer Andrew Glashow said, “The achievements the City Trees brand and team have made over the past year have been monumental to our business. To be acknowledged by LeafLink as the fastest growing and top selling thc distillate concentrate brand across all markets is validation that we are on the right track. We have set out to create the highest quality product and get it into people’s hands at an affordable price. Clearly that’s working and we are very proud.”

LeafLink links over 2,800 cannabis brands 

LeafLink is a cannabis sector wholesale marketplace linking more than 2,800 cannabis brands with close to 7,300 licensed retailers across 30 legal markets in North America. The LeafLink List is a place to honor the outstanding business. The LeafLink List 2021 was compiled from orders placed on the LeafLink marketplace between January 1 and September 30, 2021.

LeafLink Co-founder and CEO Ryan Smith said, “Each year through LeafLink List, we celebrate the amazing brands and retailers that make up the powerful community within LeafLink’s platform. It has been another strong year for cannabis, with the industry seeing continued growth thanks to the hard work of these amazing businesses and the exceptional people behind them. We’re excited to celebrate this year’s winners, and we can’t wait to see what next year has in store.”

*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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Revive Therapeutics Ltd (OTCMKTS: RVVTF) Submits Orphan Drug Application For Bucillamine For IRI Prevention During Liver Transplant

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Revive Therapeutics Ltd (OTCMKTS: RVVTF) has submitted an application to the US FDA for an Orphan Drug Designation for Bucillamine in ischemia-reperfusion injury (IRI)prevention during a liver transplant.

Ischemia-reperfusion injury doesn’t have any approved treatment 

There are no approved therapies for IRI currently. Ischemia-reperfusion damage is a common complication of liver transplantation and among the main causes of postoperative hepatic dysfunction, increasing morbidity and mortality risk. According to the United Network for Organ Sharing (“UNOS”), 8,906 liver transplants were performed in 2020, with 11,664 people on the liver transplant waiting list at the time of the ODD submission. Many therapeutic techniques have been found to be effective in controlled animal settings, but the majority have generated ambiguous outcomes in clinical practice or are yet to enter human clinical trials.

CEO Michael Frank commented, “We are continuing to advance novel uses of Bucillamine not only as a treatment for infectious diseases, but also for rare conditions that have no treatment options such as IRI. The FDA orphan drug application for Bucillamine as a potential solution in preventing IRI during liver transplantation and subsequently to other organ transplants complements our overall strategy of developing Bucillamine as a strong platform for other conditions.”

Bucillamine has the potential of reducing anti-inflammatory effects during transplant 

According to Revive, Bucillamine usage during liver transplantation has the potential to be a safe and effective way to meet the unmet medical need for a proprietary method to restrict or avoid IRI. Notably, Bucillamine is a cysteine derivative with two donatable thiol groups and can refill the thiol group in glutathione, reactivating the endogenous defense against oxidant harm in the context of IRI. Also, Bucillamine appears to have anti-inflammatory properties unrelated to the antioxidant properties.

The company believes Bucillamine has the potential to solve the shortage of high-quality organs by making steatotic livers less susceptible to IRI and hence more available for transplantation. Most importantly, Bucillamine has the potential to improve graft function and patient outcomes by lessening or preventing IRI during surgery and liver transplantation.

*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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Tinley Beverage Company Inc. (OTCMKTS: TNYBF) To Produce MJ Beverages’ “Mari y Juana” Drinks In California

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The Tinley Beverage Company Inc. (OTCMKTS: TNYBF) has announced that the production of MJ Beverage Co. LLC’s “Mari y Juana” soft drink-style beverages will be in four varieties of cannabis-infused drinks at Tinley’s bottling plant in Long Beach, California, with Hardcar Distribution distributing the beverages.

MJ Beverages introduces “Mari y Juana” to California 

Each 12 fl. oz. Carbonated single-serve bottle of ‘Mari y Juana’ beverages will contain 10 mg of THC as well as a blend of flavorful ingredients. Mandarin Orange (Mandarina), Pineapple (Pia), Guava (Guayaba), and Tamarind (Tamarindo) will be the first four flavors in the product line. All these products inspired by popular Mexican soft beverages seek to appeal to Latino preferences.

MJ Beverages founder and CEO Daniel Torres said, “MJ is excited and grateful to be able to introduce these infused Mexican-inspired beverages to the California cannabis market. Our initial launch of four immediately recognizable SKU’s will help us establish a new targeted brand designed to grow the infused beverage category. ‘Mari y Juana’ aims to address a sector of the market that is currently underserved by existing infused beverages. With a planned accessible price point, our strategically branded drinks will provide consumers new choices that they can immediately identify with, appreciate, and we hope, remain loyal to for years to come.”

Matt McGinn to assist MJ on go-to-market strategy 

The company has partnered with cannabis beverage entrepreneur Matt McGinn, appointed as Chief Global Strategy Officer. McGinn will help MJ in formulation, product execution, and go-to-market strategy.

McGinn commented, “I’m thrilled to be a part of this and be able to bring my years of experience to assist in making this collaborative effort with Tinley’s a successful endeavour.”

Tinley CEO Douglas Fulton said, “The Tinley’s team at Lakewood love these culturally relevant products. We believe that ‘Mari y Juana’ will drive expanded consumer interest in cannabis infused beverages and overall category growth. Working with MJ and Hardcar will allow Tinley’s Lakewood facility to produce and replenish efficiently, to meet retailer and consumer demand,”

*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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