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Trulieve Cannabis Corp (OTCMKTS: TCNNF) Opens Trulieve Inverness in Florida and Trulieve Morgantown Dispensary in Florida

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Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the opening of its Inverness, Florida dispensary. The dispensary’s opening joins 107 medical marijuana dispensaries in the state, including nearby Crystal River, Ocala, and Gainesville dispensaries.

New customers to get a 50% discount at Inverness dispensary. 

The company invites the Inverness community to celebrate the grand opening with live music, complimentary Panera breakfast, partner swag giveaways, custom t-shirt screen printing by Craft Tee of St. Petersburg, and all-day promotions. On launch day, all registered patients will receive a 25% in-store discount at the new dispensary. In addition, Trulieve offers a 50 percent new customer discount to all first-time customers, both in Inverness and at dispensaries around the state.

Patients will find the largest assortment of THC and CBD products in Florida, including edibles, concentrates, smokable flower, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as convenient in-store pickup and online ordering.

Trulieve’s workers are specialists in cannabis products and the process of becoming a medical cannabis patient as Florida’s first, largest, and leading medical cannabis provider. The company’s team is looking forward to welcoming Inverness-area patients to the new dispensary and supporting patients at all ends of the cannabis experience spectrum, from those interested in applying for a card to those already familiar with Trulieve’s extensive assortment of products.

Trulieve opens its first retail cannabis dispensary in West Virginia 

Also, the company announced opening its first dispensary in West Virginia. The dispensary will be located at 1397 Earl Core Road and will be the first location selling medical cannabis in the state. The company will host a ribbon-cutting ceremony and open the Morgantown dispensary doors on November 12, 2021. A second dispensary is scheduled to be opened on November 15, 2021, in Weston at 137 Staunton Drive.

West Virginia age-verified patients having valid medical cannabis cards will be able to buy diverse products, including TruSpectrum Whole Plant Extract, Botanical TruPOD cartridges, TruyClear Concentrates, and TruFlower.

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Cansortium Inc. (OTCMKTS: CNTMF) Announces 9% YoY Growth In the Third Quarter of 2021

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Cansortium Inc. (OTCMKTS: CNTMF) has announced its financial results for the quarter ending September 30, 2021, in which revenue was up 9% YoY. In addition, the company executed various initiatives during the quarter, including opening two dispensaries in Florida and one in Pennsylvania.

Cansortium reported revenue of $15.6 million in Q3 2021

The company reported revenue of $15.6 million relative to $14.3 million a year ago, with Florida revenue growing 4.3% YoY to 413.1 million. Cansortium reported an adjusted gross profit of $9.8 million or 62.7% of its revenue, with adjusted EBITDA increasing 34% to $4.9 million.

CEO Robert Beasley said, “During the quarter, there was a well-publicized merger between two MSOs in Florida that created a product liquidation event, which disrupted pricing in the market. We nevertheless stood our ground on pricing, which impacted sales but enabled us to hold margins relatively well and still increase adjusted EBTIDA by 34% to $4.9 million. Due to these lower sales, we are revising our 2021 revenue guidance to $63-$66 million, however we are holding our adjusted EBITDA guidance and expect to come in at the low end of our previously disclosed range of $18-$26 million.”

2021 revenue guidance 

According to the company, revenue is expected to range between $63 and $66 million in 2021. In addition, the consortium expects adjusted EBITDA to be in the range of $18 million to $26 million, with the lower end of that range expected to be achieved. In 2020, the company reported revenue of $52 million and adjusted EBITDA of approximately $10 million.

“Pricing volatility in Florida has improved since the peak disruption in September, and as we enter the final month of the year, we continue to expect exiting 2021 at a strong run rate with full production from our increased capacity hitting shelves in February 2022. We have already seen increased yields due to environmental control enhancements across multiple facilities, and we are excited to dramatically improve our competitive positioning with greater inventory and a wider range of products to sell across our Florida retail footprint in 2022,” added Beasley.

*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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SLANG Worldwide Inc. (OTCMKTS: SLGWF) Reports Revenue of $10.1 Million Boosted BY High-Fidelity Acquisition

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SLANG Worldwide Inc. (OTCMKTS: SLGWF) has announced its financial results for the third quarter and nine months ending September 30, 2021.

High-Fidelity acquisition boosted revenue in Q3 

In Q3 2021, revenue was $10.1 million, helped by the acquisition of High-Fidelity Inc. in August this year, which added revenue of $1.1 million in the third quarter. In addition, the company’s brands are earning market-leading positions in the main markets of Vermont and Colorado and entered new markets of Pennsylvania and West Virginia through a partnership with Trulieve Cannabis Corp.

Interim CEO Drew McManigle said, “With the significant support from our respected strategic and investor partners, I look forward to utilizing my extensive experience in repositioning corporate operations to assist in the transformation of the SLANG operating platform. This transformation will be based on a refined strategy to appropriately position the company to achieve future sustainable revenue growth.”

SLANG received term loan financing of $17.3 million in November 

In November, the company received term-loan financing for aggregate gross proceeds of $17.3 million from Pura Vida Investments, Seventh Avenue Investments, and Trulieve. The Loan Transaction is a strong vote of confidence from each of these prestigious partners in the new leadership team’s ability to guide SLANG through the successful execution and development of its re-designed transformational growth strategy. Also, Drew Mcmanigle was appointed as Board Chairman and Interim CEO as part of the company’s executive leadership transition to position the company for profitability.

McManigle added, “During the third quarter, SLANG deepened its strategic partnership with Trulieve, expanding product availability into new markets exclusively through Trulieve retail locations, and further securing opportunities for additional revenue over the long-term. In the short time I’ve been appointed to manage the strategic transition and transformation of SLANG, we’ve made substantial progress in evaluating the go-forward structure, effectively executing prudent measures beginning with consolidating core market operations and refining our product mix. We are confident in our rightsizing agenda to create a future path to profitability, and ultimately deliver attractive returns to our shareholders.”

*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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Blueberries Medical Corp (OTCMKTS: BBRRF) Posts Revenue Increase of 339% In First Nine Months Of 2021

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Blueberries Medical Corp (OTCMKTS: BBRRF), the parent of Blueberries S.A.S, has announced its unaudited condensed Q3 2021  financial results for the quarter ending September 40, 2021. The company is sticking to its approach of cutting administrative, capital, and operating costs while focusing on various revenue-generating operations.

Revenue was up 339% for the nine months of 2021

In the nine months ending September 30, 2020, revenue increased by $134,279 (339%) to $173,886 from $39,607 in the previous year. Gross margin increased to 63 percent, from $15,321 to $109,126 for the nine months while operating expenses decreased by $1,932,072 (55 percent) compared to $3,488,977 a year ago. In September 2021, the company completed a $1.9 million private placement led by Terraflos Inc. The private placement helped the company in strengthening its balance sheet by increasing its cash position to $1.8 million at the end of the quarter.

Latin America operations President Jose Forero said, “We are a sales-oriented organization, but we believe that we have a strong and robust team to thrive in an exciting but complex industry. .In the third quarter, we accomplished strong efficiencies, not only in the farm, but also in our extraction facility, where we incremented the capacity by 28% with no capex investment. We successfully exported a 150kg shipment of premium CBD oil for medical formulas to Peru and received the register from the Colombian government to both improve our strains and export seeds and cuttings. These are solid examples on how our actions are always guided by the three fundamental pillars of the company.”

Blueberries Medical minimizing fixed structure costs

The company’s new CFO, Guillermo Rodriguez, said, “Blueberries Medical Corp.’s short term strategy will be to minimize fixed structure costs and expenses, reducing capital and operational expenditures, while preserving working capital to optimize the resource and cost structure and full focus on revenue generating activities. For example, operating expenses were reduced from $1,053,831 incurred during the third quarter 2020 to current $682,665 in the third quarter of 2021, a reduction of 35%.”

*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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