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Sprott Inc. (NYSE: SII) Increased Assets Under Management by 3% In Q3 2021, helped by The UPC Transaction

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Sprott Inc. (NYSE: SII) has announced financial results for the third quarter and nine months ending September 30, 2021.

Sprott announced a 3% increase in assets under management in Q3 

The company had $19 billion in assets under management as of September 30, 2021, a 3% sequential increase and a 9% increase in the last nine months. The Uranium Participation Corporation (UPC) transaction benefitted the company by adding $630 million to its physical trusts. Also, Sprott benefited from strong inflows to lending strategies and physical trusts. However, Market value depreciation in the fund products partially offset the increases.

Management fees were up 44% YoY in the third quarter to $28.6 million and up 50% YoY year-to-date basis to $76.1 million. Commission fees increased 20% YoY to $11.3 million in Q3, while it was up 50% YoY to $10.4 million for the nine months. Finance income dropped 25% YoY to $0.6 million in Q3 2021, and for the nine months ending September, finance income increased 18% to $2.7 million.

Sprott CEO Peter Grosskopf said, “During the third quarter of 2021, Sprott demonstrated the strength of our strategy and continued to deliver strong financial results despite precious metals trading sideways for most of the period. Subsequent to quarter-end, we surpassed $20 billion in AUM, a new historic high for Sprott, reached in large part due to the efforts of our employee team.”

Sprott expanding its uranium franchise 

Grosskopf added, “In July, we completed the acquisition of Uranium Participation Corp. and launched the Sprott Physical Uranium Trust (“SPUT”), which has grown to $1.6 billion in assets. In November, subsequent to the end of the third quarter, we announced that we are further expanding our uranium franchise with an agreement to acquire exclusive licensing rights to the index tracked by the North Shore Global Uranium ETF (“URNM”), which has the potential to result in a transaction that could add approximately $900 million in AUM. We believe URNM is a perfect complement to SPUT, which has quickly become the largest and most in-demand physical uranium vehicle in the world.

*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

InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Q1 2022 Financial Results and Updates on 755-201-EB study

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InMed Pharmaceuticals Inc. (NASDAQ: INM) has announced fiscal Q1 2022 financial results for the quarter ended September 30, 2021.

InMed witnessed positive momentum across all its programs in Q1 2022

CEO Eric Adam said, “The first quarter of fiscal 2022 saw positive momentum across all of our programs. With the completion of the BayMedica Inc. (“BayMedica”) acquisition, our integrated teams are working together to identify rare cannabinoids in BayMedica’s pipeline for commercialization in the consumer health and wellness industry. For the duration of fiscal year 2022, we will be focused on growing revenues through the launch of these selected rare cannabinoids, in addition to expanding sales of BayMedica’s Prodiol® CBC (cannabichromene) and progressing our existing programs.”

The company finalized the BayMedica acquisition on October 13, 2021. The immediate priority for management is to complete the merger of the two firms and expedite commercial activities, especially boosting wholesale B2B revenue for BayMedica’s  Prodiol CBC product to the wellness and health market.

IntegraSyn is still being optimized as a solution for large-scale GMP manufacturing of uncommon cannabinoids, according to the company. Currently, the team concentrates on process optimization to make the manufacturing process GMP-ready for pharmaceutical quality manufacture. The next step is to scale up production to a large batch and continue improving on the industry-leading yield of 5g/L that was previously revealed.

INMed commenced 755-a 201-EB clinical study 

The company reported on September 30, 2021, that the 755-201-EB trial, a Phase 2 clinical study of INM-755 (cannabinol) cream in the treatment of EB, has begun, marking the first time cannabinol has moved to a Phase 2 clinical study to be evaluated as a therapeutic alternative to treat a condition. InMed has also requested a pre-Investigational New Drug (“IND”) meeting with the US Food and Drug Administration to discuss the INM-755 clinical trial’s potential future steps.

InMed filed an international patent application on November 3, 2021, seeking market exclusivity for the potential treatment of neurodegenerative diseases like Parkinson’s, Alzheimer’s, Huntington’s, and others by showing enhanced neuronal function and neuroprotection leveraging a rare cannabinoid.

*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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Curaleaf Holdings Inc. (OTCMKTS: CURLF) Reports Revenue of $317 Million in Q3 2021

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Curaleaf Holdings Inc. (OTCMKTS: CURLF) has announced its operating and financial results for Q3 2021, ending September 30, 2021.

Curaleaf Q3 revenue up 74% YoY

The company reported revenue of $317 million, representing a 74% YoY increase and a 3% QoQ increase. Adjusted EBITDA during the quarter was up 69% YoY to $71 million. In addition, Curaleaf reported $52 million in cash flow from operations or 16% of revenue.

Curaleaf Executive Chairman Boris Jordan said, “During the third quarter we delivered record revenue of $317 million, representing 2% sequential and 74% year-over-year growth. We also generated $52 million of positive operating cash flow. While we faced some transient headwinds during the quarter, we continued to execute well against our strategic initiatives, prioritizing growth and gaining market share. As a result, we remain on track to achieve our $1.2 to $1.3 billion annual revenue guidance, albeit at the lower end of the range, representing growth of over 90%. Strategic M&A remains a key pillar our growth plan.”

The company closed the acquisition of Los Sueños Farms in October and also announced a strategic agreement to purchase a vertically integrated MSO, Tryke Companies, which bolsters Curaleaf’s leadership position across Arizona, Nevada, and Utah. The acquisition will be accretive immediately to the company’s cash flow and margins.

Curaleaf increased cultivation capacity 

CEO Joe Bayern said, “We continued to successfully execute our plan for long-term growth in the third quarter with a focus on our four pillars of competitive advantage – research & development, commercialization, national distribution, and marketing and brand building. We expanded our scale and reach by strategically growing our retail and wholesale presence and significantly increasing our cultivation capacity both organically and, more recently, through M&A. Significant investments in R&D are a cornerstone of our competitive advantage, and we continued to set ourselves apart with the introduction Cliq by Select in the third quarter, while also expanding our innovative Select Squeeze and Nano Bites products to new markets. Looking to the balance of 2021 and beyond, we will continue to execute our long-term strategy with a focus on gaining market share in a sustainable and profitable manner.”

*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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4Front Ventures Corp (OTCMKTS: FFNTF) To Report Q3 2021 Revenue Results On November 17, 2021

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4Front Ventures Corp (OTCMKTS: FFNTF) has announced it will report its Q3 2021 on Wednesday, November 17, 2021.

Q2 2021 systemwide pro forma revenue of $34.4 million 

The company reported systemwide pro forma revenue of $34.4 million in the second quarter, representing 85% YoY growth.  Strong sales in Massachusetts and Illinois drove the rise in revenue, and all retail stores across the portfolio continued to outperform our forecasts, a pattern that has persisted into early Q3. As a result, GAAP-reported revenue in Q2 2021 was $27.1 million, increasing 114% YoY, while adjusted EBITDA was up 27% to $7.5 million. The increase resulted from high dispensary sales and a reduction in cost per gram at the Illinois cultivation facility.

CEO Leo Gontmakher said, “In the second quarter we continued to build on the strong momentum that began last year. Following the initiation of adult use sales in Massachusetts and the enthusiastic reception of our Calumet City, Illinois dispensary in late 2020, our steady growth quarter over quarter shows that our strategy of replicating low-cost production methods can rapidly scale in the most attractive markets in the country.”

Gontmakher added, “We are already off to a great start for the third quarter. With our manufacturing facility in Commerce, California complete and pending its final approvals, we are spring-loaded to provide our suite of high-quality, branded products to licensed dispensaries throughout the State, and we fully expect it will soon become the premier multi-product manufacturer in the country due to its scale and efficiencies,”

4Front closed the first phase of the cultivation facility in Matterson 

“We also recently announced the closing of the first phase of our highly-anticipated cultivation and production facility in Matteson, Illinois, and are thrilled to officially break ground tomorrow, with the first phase anticipated to be completed in Q4 of 2022, and be operational in Q1 of 2023. The opening of our Mission dispensary in Brookline, Massachusetts will mark our third adult-use dispensary in the state, expanding our footprint as we continue to bring our high standards, low-cost cultivation and efficient production methodologies to Massachusett,” continued Gontmakher.

*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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