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The Release of Preliminary Unaudited Q2 2021 Revenue Results by Plus Products Inc. (OTCMKTS: PLPRF)

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The cannabis industry includes four primary sections; recreational marijuana, medical marijuana, CBD oil, and hemp. Hemp dates back to more than 10,000 years hence classified among the oldest industries on the globe. And its popularity today is based on its CBD products. Plus Products Inc. (OTCMKTS: PLPRF) can tell a story regarding the hemp industry given that it is a hemp branded Products Company. Through the provision of high-quality and safe products, the company can deliver consistent consumer experiences. 

The California headquartered company has released its preliminary unaudited revenue for Q2 2021. The expected quarter-over-quarter growth is 92%, which translates to $4.8M of unaudited net revenues. This is over and above the $2.5M in Q1 2021 and year-over-year growth of 12%. 

However, this triumph did not just happen, according to the Co-founder and CEO of PLUSJake Heimark. He said, “We believe the successful transition to our self-service distributor, Nabis Distribution, along with an expanded internalized sales team in California contributed positively to our second quarter sales.”

Nabis is a leading cannabis distribution platform, which supports the most extensive portfolio of brands globally. Its founding by Vince C. Ning and Jun S. Lee in 2017 were on a simple vision of empowering the world to discover cannabis, provide choices, access, and innovation. The supply base for Nabis includes more than 99% of California’s dispensaries. And being one of the best-in-class wholesale marketplaces, its focus is on a diverse selection of innovative products and marketing services to accelerate brand growth. 

The Return of Limited-Edition Hash-Based Gummies

The Chief Product Officer at PLUS, Ari Mackler, believes that the quality of cannabis is at the helm of premium products. This formed the basis for its re-establishment of the second batch of its limited-edition PLUS Hash Gummies. They are infused with cold water, are a hybrid strain flavored with all-natural essence from Seville and Valencia oranges, and each gummy contains 10mg of THC. Substantial consumer and retailer demand from consumers also necessitated their return.

*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

Village Farms International Inc (NASDAQ: VFF) Announces its Q2 2021 Financial Results Demonstrating a 38% Net Sales Growth, Thanks to Pure Sunfarms

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When the World Health Organization declared COVID 19 virus a global pandemic, hundreds of businesses and markets worldwide fell apart. A majority of them enacted temporary closures. Others reduced operations, which meant relieving off some employees their duties. Finally, however, things have begun to show up if some businesses’ Q2 2021 Financial results are anything to go by. Take, for example, Village Farms International Inc (NASDAQ: VFF) 

The large-scale and high-value supplier of high-growth plant-based Consumer Packaged Goods has gone public with its Q2 2021 financial results. And for record purposes, the company attained a total net sales growth of 38% sequentially. This was in addition to a 192% sequential increase in adjusted EBITDA. Thanks to its Canada-based subsidiary, Pure Sunfarms. 

The continued momentum has placed Pure Farms in a position of becoming a long-term market leader in the Canadian cannabis market. Its strength is in Retail Branded Sales and according to Michael DeGiglio, CEO, Village Farms, “…our continued market share, leadership and growth, including our first-ever quarter as the top-selling* Licensed Producer in Ontario, gives us even more confidence that we will achieve our stated goal of 20% market share….”

The Acquisition of Balanced Health Botanicals by Village Farms

The Canadian legal cannabis market is snowballing. Additionally, Senate leadership’s recently introduced cannabis bill in the US is a crucial identifier of progress in regulatory change. As a result, Village Farms has swung into identifying potential pathways to expand its footprint. 

Its acquisition of a 100% interest in Colorado-based CBD-platform Balanced Health Botanicals is possible one of them. The company develops CBD-based health and wellness products and has established a diversified portfolio, including edible, topical, and ingestible applications. The acquisition comes with immediate access to the US retail CBD market, an experienced team and product categories, and an opportunity for Village Farms to add significant expertise to Balanced Health’s supply chain. 

Since 2016, Balanced Health Botanicals has built a leading brand and is hugely proud of impacting the lives of its consumers.

*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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Charlotte’s Web Holdings (OTCMKTS: CWBHF) Announces Return of Retail Activity With an 11.4% YoY Growth in its Q2-2021 Financial Results

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CBD or cannabidiol is known for supporting the body in several ways. Its integration into people’s health routines has increased over the years, being one of the 100+ cannabinoids in the market today. The market share leader in full-spectrum hemp extract wellness products, Charlotte’s Web Holdings (OTCMKTS: CWBHF) can attest to the benefits the entire plant delivers throughout the body. 

The Colorado headquartered company, a market leader in innovative hemp extract, has made it again after reporting an 11.4% increase in revenue in its Q2.2021 financial highlights. From $21.7 million in Q2-2020, the company achieved $24.2 million. This was in addition to a 65.5% increase in consolidated revenue. 

The Economic Recovery From The Pandemic 

Just like any other institution, Charlotte’s Web was hit hard by the pandemic. However, according to the company’s CEO, Deanie Elsner, the recovery began in Q1 into Q2. The transitioning of customers from brick-and-mortar retail to online shopping contributed to a 38% increase in retail revenue. The company also took the top share position in the food/drug/mass and natural strength in retail channels in the US.  

Charlotte’s Web also made it in other areas in the same financial reporting period. For example, they secured a purchase option agreement to acquire Stanley Brothers cannabis business, subject to the federal legalization of cannabis in the US. 

Charlotte’s Web Support Of Collaborative Metabolomic Hemp Studies

The Company’s CW Labs science division collaborated with Colorado State University’s College of Agricultural Sciences to carry out full spectrum chemistry studies. Under Dr. Jessica Prenni, the research explored the degree to which different environmental conditions may affect the resulting phytochemical profile of the hemp plant. 

Dr, Prenni outlined, “… “We are thrilled to have the opportunity to work with Charlotte’s Web and contribute to building the knowledge base around full spectrum hemp extract product.”

Meanwhile, it is worth mentioning that Charlotte’s Web hemp extract wellness products include proprietary hemp genetics and are 100% American farm-grown. They are distributed to more than 14,000 retail doors.

*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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Scotts Miracle-Gro Co (NYSE: SMG) Bolsters its Hawthorne Gardening Portfolio by acquiring Rhizoflora Assets

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Scotts Miracle-Gro Co (NYSE: SMG) is a leading global marketer of branded gardens/lawns as well as hydroponic and indoor growing products. It recently announced it had acquired a leading nutrients business of Rhizofloras, including its Purpinator and Terminator brands. This has helped expand the company’s Hawthorne Gardening product portfolio. Scotts Miracle also separately announced that its Hawthorne Collective subsidiary had acquired a warrant to purchase an equity stake of $3.2 million in Dewey Scientific. This transaction will help greatly advance the industry-leading cannabis cultivation methods and genomics Dewey possesses. The Hawthorne Collective investment will only be used on things allowed by United States law.

Hawthorne is now the main provider of Purpinator and Terminator 

Rhizophora has been producing Purpinator and Terminator for quite some time now. Before this transaction, Hawthorne was just another one of the distributors. However, now it’s going to be the main one in the United States.

Senior Management

Hawthorne Gardening’s President, Chris Hagedorn, said the acquisition reflects their broader goal of creating the most comprehensive product portfolio possible so that it can serve both growers and cultivators at scale. He stated that they appreciate their longstanding partnership agreement with Rhizoflora and that they look forward to helping advance both the brands, including introducing Purpinator and Terminator to other expanded markets.

Nature of the deal

The agreement terms dictate that Scotts Miracle will get all of Rhizoflora’s assets substantially for a consideration price of $33.5 million, with the addition of roughly $8 million in annual sales. Acquiring the Purpinator and Terminator product lines will help expand Hawthorne’s nutrients products portfolio as well. In addition, the company will increase its sales and marketing efforts involving these two brands so as to ensure its 360 Total Solution program for growers gets support.

On the other hand, Dewey Scientific specializes in leveraging classical breeding methods, genomics, and data science to help improve both the genetic diversity and quality of cannabis crop products grown in the Pacific Northwest region. The Hawthorne Collective investment will help extend that reach.

*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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