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VIVO Cannabis Inc. (CVE:VIVO) Partners Friendly Stranger To Strengthen CBD Production

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VIVO Cannabis Inc. (CVE:VIVO) has turned to strategic investments as it seeks to strengthen its cannabis production capacity. The company has completed a $1.25 million strategic investment in Friendly stranger Holdings, as it continues to explore ways of reinvigorating its growth prospect in the industry.

Friendly Stranger Partnership

Under the terms of the agreement, Vivo is to acquire 187,500 Class A Friendly Stranger shares at $4 a share for $750,000. It is also to acquire an unsecured convertible debenture worth $500,000.

The $1.25 million investment should allow Friendly Stranger to enhance its retail expansion plans as the race for revenues in the burgeoning Canadian cannabis landscape heats up. According to Friendly Stranger President James Jesty, Vivo is an ideal partner given its line premium cannabis brands.

“With a strategic investment from VIVO, we have additional capital to execute the first phase of our growth strategy to scale and evolve the business. This will include operating several locations fully licensed to sell adult-use cannabis, pending Ontario granting additional licenses,” said Mr. Jesty.

Vivo and Friendly Stranger have also entered into a partnership agreement under which they are to pursue a retail cannabis license as well as to conduct in-store events and work together in leveraging co-branding opportunities.

Innovative Airhouses Installation

The$1.25 million comes hot on the heels of Vivo completing a first Canadian installation of innovative airhouses in Napanee. The company becomes the first in Canada to leverage the new technology that is finding great use in the U.S for the production of high-quality cannabis at a low cost.

The airhouses are to capitalize on all the benefits, such as low production costs, associated with growing cannabis outdoors. The innovative technology should provide a consistent cultivation environment ideal for higher yields and high-quality products. Vivo expects the new greenhouses to provide an annual production capacity of about 4,000kg of cannabis.

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SinglePoint, Inc. (OTCMKTS:SING) Posts Solid Growth Of 300% In Q1 2020 Revenues

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SinglePoint, Inc. (OTCMKTS:SING) has reported revenues of $1.075 million (up 300%) in Q1 2020. The projects developed in Q4 2019 and the acquisition of Direct Solar helped the company report stellar growth in Q1.

Record solar bookings in Q4 2019

Direct Solar holds stellar solar bookings in the previous quarter; it expanded its business to 30 states from the prevailing seven markets. It clocked residential sales of more than 40 in February 2020. However, the company’s sales declined in March on account of the coronavirus crisis.

Contactless sales

Direct Solar adopted a digital sales platform to facilitate contactless sales, which helped to venture into the new markets quickly. The company also achieved cost savings by switching over to the digital sales platform.

Healthy growth in the solar business

Direct Solar maintains excellent solar bookings that comprise accretive and incremental commercial sales and residential bookings. The company began experiencing the impact of coronavirus in late Q1 and more prominent in Q2.

Chairman and CEO of SinglePoint, Greg Lambrecht, said 1606 Original Hemp Product and Direct Solar America contribute to its revenue growth. The company will realign its business opportunities and take action to boost growth.

The company has outperformed in Q1 by surpassing the revenue of $1 million. However, it expects to face the coronavirus impact on Q2 revenues because of business disruptions. SinglePoint expects to post solid growth in Q3 and Q4 by unveiling innovative products and changing the sales strategies.

Initiatives to double sales in Q2

The hemp vertical of SinglePoint expects to double the sales in Q2. SinglePoint is also unveiling Hemp 1606 6-pack counter display. The company realized sales growth of 133% in Q1 from 1606 Hemp compared to the previous quarter.

SinglePoint hired talented sales professionals to promote in-store products. They will also play a vital role in acquiring new stores to sell its products soon. The aim of 1606 Hemp is to record over 250 retail accounts across several states.

SinglePoint expects to generate revenues of up to $5.5 million by offering its products to 1,000 stores. On the successful rollout of Hemp 1606, the company has added 250 accounts in four weeks.

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) Posts Record Revenues Of $4.7 Million In Q1 2020

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) reported an increase of 21% in revenues to $4.7 million in Q1 2020. Chalice farms contributed revenues of $3.1 million. The company adopted measures like reducing operational spending, improving warehouse efficiencies, and extending terms with the suppliers to realize better growth in Q1.

Achievements in Q1

Golden Leaf unveiled the RXO product line on January 8, 2020, leveraging its patented technology – Essential Innovations. The product is offered in Tanker, Shatter, and Vaporizer varieties. It will sell these innovative products in Washington, Nevada, and California using the partnerships for manufacturing established in Q1. Golden Leaf is experiencing growing demand for its Fruit Chews in both retail and wholesale channels.

Inks an accord to takeover Tozmoz

Golden Leaf inked an accord to take over one of the leading cannabis extractors in Oregon – Tozmoz on February 3, 2020. Established in 2015, Tozmoz provides extraction processes like ethanol, hydrocarbon, and Co2 for wiped film and short path distribution. Its additional services include packaging services, product formulation, and manufacturing.

Commenting on this deal, Jeff said the company is working with Tozmoz for several years now, and this takeover squarely fits into its business strategy. The acquisition allows the company to build and expand its product line. Golden Leaf acquired all the assets like a facility based in Clackamas of Tozmoz for $2.8 million.

Post takeover, Tozmoz co-founders – Jerry Wallis and Joel Klobas, will continue to offer their services to Golden Leaf. Also, Golden Leaf will employ Klobas as its Vice President (manufacturing). Jerry will provide consultancy services to Senior Vice President (operations) and Vice President (production).

To tackle the upcoming coronavirus crisis, Golden Leaf expedited the unveiling of home delivery service on March 20, 2020. Golden Leaf signed a product distribution and manufacturing accord on March 13, 2020, with Sugar Pine for the manufacture of marijuana-infused products.

CEO of Golden Leaf, Jeff Yapp, said the company appointed John Ford to ensure distributional and operation growth by implementing best standards and practices. Golden Leaf has given the charge of Interim Chief Finance Officer to its president ‘Stanley Grissinger.’

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Cresco Labs Inc (OTCMKTS:CRLBF) Posts Revenues Of $66.4 Million In Q1 2020 On Improved Retail Efficiencies And Cultivation

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On improved cultivation and efficiencies in retail in Pennsylvania and Illinois, Cresco Labs Inc (OTCMKTS:CRLBF) has realized earnings of $66.4 million (up 60%) in Q1 2020.

Accomplishments

Cresco completed the cultivation facility on April 16, 2020, in Lincoln, Illinois, and added 180,000 Sq. Ft. of greenhouse and indoor space. The overall cultivation space of Cresco surged to 215,000 Sq. Ft. in all the three facilities in Illinois.

Cresco also completed an additional cultivation space of 66,000 Sq. Ft. on May 7, 2020, in Pennsylvania and improved the capacity by almost four times. The company inaugurated adult-use dispensary based in downtown Chicago on May 28, 2020.

Developments in California

Cresco has taken over CannaRoyalty Corp, which is conducting business as Origin House, on January 8, 2020. The acquisition helps the company to enter in the Californian market and enhance its presence. Co-founder and CEO of Cresco, Charlie Bachtell, said the acquisition of Origin House catapults Cresco into the legalized cannabis markets worldwide. It will also gain expertise in brand development and wholesale distribution and improve dividends for the shareholders going forward. He also said the skilled indoor cultivation arm of Origin House helps the company outperform the market in terms of yields and quality metrics.

Following the takeover, Cresco will induct CEO and Chairman of Origin House, Marc Lustig, into its director board. The appointment is subject to the receipt of regulatory approvals in the US. Cresco can now sell its products to more than 575 dispensaries and account for 60% of storefronts in California.

In California, the company unveiled Mindy’s edibles on February 4, 2020. These edibles boast quality and unique ingredients together with iconic flavors. Mindy’s also introduces its best selling gummies in six flavors in California.

Obtains legal approval to acquire Hope Heal Health

Cresco signed a pact to take over Ohio based four operating dispensaries on May 26, 2020. In New York, the company opened 4 Sunnyside dispensaries on February 27, 2020. The company also mobilized funds and obtained legal clearance to takeover Massachusetts based Hope Heal Health on February 7, 2020.

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