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Trulieve Cannabis Corp (OTCMKTS:TCNNF) Posts A Growth Of 24% In Q4 2020 Revenues

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Trulieve Cannabis Corp (OTCMKTS:TCNNF) reported a growth of 24% in Q4 2020 to $168.4 million in revenues. Its full-year revenues are $521.5 million (up 106% YoY).

Trulieve maintained a cash flow of $99.6 million in 2020. It becomes a US reporting company, with the Securities and Exchange Commission declaring its resale statement with effect from February 4, 2021, on Form S-1.

Receives the nod of Cannabis Control Commission

Trulieve received Massachusetts CCC’s nod (Cannabis Control Commission) to grow plants at its Holyoke-based Tier 9 facility. The company signed a deal on March 22, 2021, to take over Mountaineer Holding LLC to consider $3 million in its subordinate voting shares and $3 million in cash.

With the acquisition of Mountaineer, Trulieve will become a vertically integrated operator in West Virginia. Trulieve also gains permits for two additional dispensaries and a cultivation permit. The total count of its dispensaries in the state stands at six.

The company commenced planting at its cultivation/ processing facility (18,000 sq. Ft) based in Holyoke, Massachusetts. It expects to realize the first harvest in H2 2021.

CEO of Trulieve, Kim Rivers, said the company is well known for its high-quality flower. It shows more interest in West Virginia with the receipt of the cultivation permit.

It can produce premium products leveraging its expertise in growing good quality medical cannabis. As a result, the patients can get access to a wide gamut of medicines.

Kim further said the company is pleased to receive CCC’s approval to grow high-quality cannabis products and flower at its Holyoke-based tier-9 cultivation facility and bring them to the communities of Massachusetts.

Expands the presence in Northeast

Trulieve expanded its presence in the Northeast by taking over Solevo Wellness. In Pennsylvania, it added three dispensaries. It also operates PurePen for the supply of wholesale products to statewide dispensaries.

The company inaugurated 11 new dispensaries in Q4 2020. It also added more than 200,000 sq. Ft. cultivation facilities in 2020.

Trulieve’s total cultivation facilities account for 2 million sq. Ft. in 2020. The company maintained a market share of 49% in oil in 2020. It also recorded a market share of 53% in flower in Florida.

*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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Can B Corp (OTCMKTS: CANB) Secures Lease for 300,000 Square Foot Facility in McMinnville, Tennessee, and Decibel Expands into the Province of New Brunswick

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The health and wellness company focused on developing, production, and sales, Can B Corp (OTCMKTS: CANB) announced that it acquired a lease for 300,000 square feet on August 25. The cannabinoids company secured the lease to support the acquisition of assets recently closed from Music city Botanicals. Moreover, the company acquired the right of first refusal and purchased the facility outright during the lease period. 

Can B acquired facility is located between Nashville and Chattanooga in Tennessee, roughly 75 miles away from each city and police headquarters of Tennessee. The facility currently has two sub-tenants acquiring 20% of the hemp storage, hemp drying, and building. Also, it encompasses the R&D department, TN Botanicals’ owned isomer lab, and facilities. In addition, the facility is already loaded with a rail spur and has generators for backup at a one-megawatt capacity. 

Management Statement

Chief Executive Officer of Can B, Marco Alfonsi, stated that acquiring this 300,000 square foot facility which assists in operation is a massive win for their company. Furthermore, the facility’s location, existing infrastructure, and footprint will enhance its capabilities and enable Can B to become the leading producer of cannabinoids, hemp-based products in America. Additionally, the assets acquired by the Music City Botanicals recently within this facility will add additional expansion, extraction production with Delta-10, CBG, CBDA, CBN products. Additionally, new products of the company will include CBD grade in retails sectors. 

Decibel expands into the province of New Brunswick.

A leading producer of a premium cannabis company, Decibel, announced that it is expanding into the province of New Brunswick. The cannabis company expands its province after acquiring approval from Cannabis NB. Decibel expects its initial purchase order from Cannabis NB in September. Along with New Brunswick, the company’s adult-use premium cannabis are available in Alberta, British Columbia, Saskatchewan, Manitoba, and Prince Edward Island. 

*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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Village Farms International Inc (NASDAQ: VFF) Announced Appointment of CFO for Balanced Health Botanicals and Sunniva Inc (OTCMKTS: SNNVF) Appoints Norman Valz to its Board of Directors

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Village Farms International Inc (NASDAQ: VFF) announced that Balanced Health Botanicals, a 100% owned subsidy, has appointed Alejandro (Alex) de Gortari as its Chief Financial Officer. De Gortari is regarded as consumer products and finance veteran. It is learned that de Gortari replaces Brandon Townsley, who has called it quits from Balanced Health, to pursue other professional interests. To his credit, the newly announced CFO has more than 15 years of experience with Molson Coors Brewing Co. De Gortari has held senior positions in the U.S. consumer products segment and cannabis industries. 

CEO Village Farms is happy to have Alex on the leadership team

President, and CEO of Balanced Health Botanicals, Chase Terwilliger, expressed that he is happy to have de Gortari as Chief Financial Officer, The President, and CEO, added that he is confident that the close to two decades of experience that de Gortari brings with him can help in scripting a new chapter in the growth of the group. Terwilliger added that de Gortari’s professional contributions could help Balanced Health expand its cannabinoid platform, paving the way for growth opportunities in the future. The President also wished the CFO good luck. 

Balanced Health Botanicals develops high-end CBD-based health and wellness products. The company has established a diverse product portfolio that includes cannabinoid products, CBD products ingestible, edible, and topical applications available online and in the physical channels. 

Sunniva Inc (OTCMKTS: SNNVF) Appoints Norman Valz to its Board of Directors

Sunniva Inc (OTCMKTS: SNNVF) recently announced that the company had appointed Norman Valz to its board of directors. The new appointment comes as a vacancy was created when Luke Stanton and Todd R. Patrick resigned in 2020. In addition, it is learned that Valz will be a part of the group’s board of directors till the next annual general meeting of shareholders is held. 

A law practitioner in Philidelphia and New York, Valz is an expert in commercial litigation, securities, corporate governance, and international business transactions. In his career spanning several decades, Valz has mentored start-ups for more than three decades. 

*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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Acreage Holdings Inc (OTCMKTS: ACRHF) Appoints New Executive Vice President of Government Relations, and Dr. Sigal Tavor (MD) Joins Cannabics Pharmaceuticals Inc (OTCMKTS: CNBX) Board of Advisors

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Acreage Holdings Inc (OTCMKTS: ACRHF) has appointed Bryan Murray as Executive Vice President of Government Relations, it is learned. The appointment stands effective from August 23. 

CEO of the company looking forward to working with Murray

Meanwhile, Peter Caldini, Chief Executive Officer Acreage Holdings Inc, said that he is confident that Murray’s leadership skills can help build long-term collaborative relationships with government officials, regulators, and partners at the local, state, and national levels. The CEO believes it can go a long way in enhancing cannabis legislation. 

The group’s CEO went on record and stated that Murray has to his credit more than a decade of experience in the policy and regulatory sector while serving at Pfizer. Caldini added that he is confident that Murray can partner with essential policymakers to bring sustainable results. 

Dr. Sigal Tavor (MD) taken as Board of Advisors for Cannabics Pharmaceuticals Inc (OTCMKTS: CNBX)

Cannabics Pharmaceuticals Inc (OTCMKTS: CNBX) has taken Dr. Sigal Tavor (MD) as its board of advisors. The development comes after an announcement made by the company to have included to its board of advisors Prof. Caroline Robert (MD, Ph.D.), a Melanoma expert along with Prof. Amos Toren (MD), Prof. Zamir Halpern (MD), Dr. Erez Scapa (MD), Dr. Dana Ben-Ami Shor (MD), Dr. Sigalit Arieli-Portnoy (Ph.D.) and Dr. Tal Mofkadi (Ph.D.). Additionally, it is learned that the official announcement was made after the company announced that it had expanded its Board of Directors. It is known that Dr. Inbar Maymon-Pomeranchik (Ph.D.) and Dr. Gil Feiler (Ph.D.) have joined the group as Independent Directors. 

Dr. Tavor will work towards improving the drug discovery platform of the company

The appointment of Dr. Tavor as Board of Advisors is a part of the group’s initiative to enhance its drug discovery platform and research abilities. The company will focus on its ongoing cancer programs besides focusing on Hematology. A source from the group shared that it will not stop the production process of its new drug candidates for additional indications.

*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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