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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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BUSINESS

Planet 13 Holdings Inc (OTCMKTS: PLNHF) Set to Acquire Florida Cannabis License

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Planet 13 Holdings Inc (OTCMKTS: PLNHF) is a vertically integrated cannabis corporation that recently announced it was entering into a license purchase agreement with a Harvest Health subsidiary whereby they’ll be renaming the newly acquired subsidiary Planet 13 Florida Inc. This newly renamed subsidiary will buy a license from Florida’s Department of Health to operate a Medical-Grade Marijuana Treatment Center. Additionally, planet 13 Holdings is set to pay a consideration price of around $55 million in cash.

Licensed MMTCs (Medical Marijuana Treatment Centers) are vertically integrated businesses which are the only ones in Florida allowed to dispense medical-grade cannabis products to qualified caregivers and patients. Medical Marijuana Treatment Centers are permitted to dispense, transport, cultivate and process medical-grade marijuana. As of August this year, around twenty-two companies had been awarded with an MMTC license. Between those companies, 371 dispensing sites have been erected all across the state of Florida. License holders can come up with as many dispensaries as they want and aren’t restricted to a specific number. They’re also not restricted on the size or number of processing and cultivation facilities they can operate.

Senior Management

Planet 13’s Co-Chief Executive Officer, Larry Scheffler, said that Florida is a marketplace that’s been one of their most coveted for quite a long time now. Its incredible consumer demand, 130 million annual visitors, and more than 20 million residents are just a few reasons why the company highly covets it. The Co-CEO claimed that it was vital for them to penetrate the market before the adult-use transition is put in place so that they can better capitalize on this specific space both in the long and short term. Larry continued to say that they were excited at the opportunity of being able to introduce their catalog of popular cannabis-based products and leading retail experiences to the Florida scene. He confirmed that they’ll continue to expand their brands all across the country.

Bob Groesbeck, the other Co-Chief Executive Officer, said that there was a lot of planning that went into this move and he feels like now was the best time for them to take action.

*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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Valens Company Inc (OTCMKTS: VLNCF) Announces the Acquisition of Verse Cannabis and creates a Top tier Canadian Licensed Producer

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A leading manufacturer of medical cannabis products, Valens Company Inc (OTCMKTS: VLNCF), announced that it acquired Verse Cannabis by completing all transactions. Moreover, by this transaction, Valens Company acquires all of the Verse intellectual property. Along with that, Valens’ recent agreement with Citizen Stash to acquire all of the outstanding shares positions Valens as top row cannabis licensed manufacturer in the Canadian industry.

The Verse has appeared as a leading cannabis brand since its launch in August 2020, with a broadening portfolio that extends all major categories. By starting with its tropic lemon 510 vape cartridges and with the recent launch of BC god bud 28g, Verse proves itself as a settler in the value segment. In addition, Verse boasts various enhancing products in its portfolios, such as baked apple soft chews, sour medley, chocolate brownie, rapid tropical beverage, and THC. Moreover, Verse provides high-quality products to consumers with a range of cannabis consumptions without the high price point.

Tyler Robson’s Statement

Chief Executive Officer of Valens Company, and Chair of the Board, Tyler Robson, commented that Valens anticipates becoming an ally to both consumer and customer. By this acquisition of both Citizen Stash and Verse, Valens fulfilled their desire. He also adds that they believe in making the best products for consumers they deserve on the right path without cutting corners. Valens is continuing purity in extraction, formulation, development to offer the benefits of cannabis to all sets of consumers in the world, whether it is recreational or medical or local or global, or Valens owned brands. Moreover, the expanded platform at Valens will better serve current and future consumers and customers through innovative product offerings at reasonable pricing points while increasing shareholder value through their branded products.

Furthermore, with the acquisition of Citizen stash and Verse, Valens is currently well-positioned to drive share gains, close the valuation gap and maximize the shareholders’ value. Valens’s strategic highlights include enhancing brand portfolio with a leading value brand, accretive transaction, existing Valens’ products portfolio with a pipeline ripe for expansion, and becoming an ally to consumers and customers.

*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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VIVO Cannabis Inc Provides Strategic Update Regarding Company’s Future and for Medical

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A leading provider of premium medical cannabis and services, VIVO Cannabis Inc, (OTCMKTS: VVCIF) announced the strategic updates regarding its future for its shareholders on August 25. In addition, the wholly-owned license holder of Canna Farms and ABcann Medicals subsidiaries provides additional information regarding the company’s focus after July 5, 2021. In the previous reports, VIVO Cannabis elected a new slate of Board Directors. Also, it announced the new Chief

Executive Officer, Ray Laflamme, and since that, the company’s Board and Management reviving its business strategy actively.

VIVO Cannabis’ board of directors met to review the company’s proposed strategy. In addition, it also assessed alternative options and announced that it would enhance its focus on assisting its medical business retail, health, and wellness. Moreover, currently, the company is positioned as strong in medical cannabis by having many assets. By enhancing these assets, the company anticipates establishing itself as an international medical leader focused on improving the patients’ lives.

VIVO Path to Profitability

VIVO Cannabis targets feedback from its medical stakeholders and patients, reduces operations expenses, and integrates its business and operating systems to attain profitability. VIVO

Cannabis’s Strong assets are Canna Farms and ABcann Medicinals, EU-GMP Certification, Harvest Medicine, Patient care expertise, Germany, Australia, and other international markets.

Ray Laflamme’s Statement

Chief Executive Officer, Ray Laflamme, said they recognized their strengths and are committed to providing value to their patients and shareholders by improving those strengths. He also adds that they will continue to work as a team and listen to the patient’s needs, health professionals, advocacy, and payors groups in domestic and global medical markets. With an enhanced and renewed focus on their medical channels’ core values, VIVO Cannabis re-commit to assisting people as their top priority.

Canna Farms began as a first patient company from the beginning. This is a progression to re-commit their efforts given their success in the last six years. The company expects to maintain recreational sales on core products to support consumers who purchase across these channels in health and wellness products.

*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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