WeedMD Inc (OTCMKTS:WDDMF) entered a pact to produce Revity cannabidiol products for Fire & Flower Stores.
As per the terms of the agreement, the company will manufacture these products at its CX Industries, a state of the art extraction center, and ship Fire & Flower stores located in Saskatchewan.
New opportunities for WeedMD
CEO of WeedMD, Angelo Tsebelis, said the company is excited to partner with Fire & Flower to manufacture Revity CBD products. It will open additional opportunities for WeedMD because Fire & Flower intends to enter new markets and introduce innovative product formats.
WeedMD expects to maintain a long term relationship with Fire & Flower because the extraction business of its CX Industries focuses on developing premium quality concentrates using trichome-rich biomass.
CEO of Fire & Flower, Trevor Fencott, said the company is excited to introduce its brand focused on wellness benefits to satisfy the demand in the underserved market of well-regulated cannabidiol products. He further said the company plans to cash the reputation of WeedMD in producing high-quality products. After the launch of the Revity brand in Saskatchewan, Fire & Flower intends to expand across the nation.
Enters an exclusive licensing pact
WeedMD entered a license, distribution, and manufacturing agreement with MM Technology Holdings, LLC. Under the agreed terms, the company will produce Mary’s medicinal products at its CX Industries extraction hub. It will also engage in the marketing and distribution of Mary’s Medicinal Products for adult-use across Canada. The company will also embrace direct consumer medical channels because it plans to serve the unaddressed medical and wellness markets. Mary’s product line comprises transdermal patches, gels, and topicals.
CEO of Mary’s Brands, Jacques Panis, said the company is excited to enter into an alliance with WeedMD and the extraction team at CX Industries because it embarks on expanding its Medicinals brand into Canada.
WeedMD reported a stellar sequential growth of 327% to $12.2 million in Q2 2020 compared to $2.9 million in Q4 2019. On an annual basis, the company posted a robust growth of 265%. Angelo said the company posted better results because of improved availability of products, enhanced brand recognition, and increased customer base efforts.
CLS Holding USA Inc. (OTCMKTS: CLSH) Announces Q1 2022 Financial and Operational Results with Revenue Up 45.5% YoY
CLS Holding USA Inc. (OTCMKTS: CLSH) has announced financial and operational results for Q1 2022, ending August 31, 2021.
CLS reports the most profitable quarter in its history
During the quarter, the company attained a positive net profit for the first time, making Q1 2022 the most profitable quarter to date. Net income was $427,599, with a net loss of $1.145 million for Q1 2022. Revenue growth was significant, with the company reporting a 45.5% growth relative to a year ago. Additionally, the company managed to maintain a gross margin of 52.7% in Q1 2022, YoY, allowing CLS to attain the goal of being over 50%. Interestingly, the gross margin was 44.8% up sequentially.
The company’s COO and president Andrew Glashow said, “We are beyond proud to have achieved profitability for the first time in our Company’s history, which is a feat we could not have achieved without the hard work and dedication of our team members. With the announcement of our new joint ventures and other innovative launches on the horizon, we foresee continued growth and success in the future.”
CLS Holding USA’s brands performed well in Q1 2022
CLS’s Las Vegas retail location, Oasis Cannabis Dispensary, continued to show robust results in Q1 2022, achieving a 21.39% YoY net income increase. The dispensary reported YoY growth in processed transactions. The solid numbers demonstrate the company’s ability to listen to the market and meet the needs and wants of the community.
The company’s branded division, City Trees, has maintained a considerable YoY sales increase every month for the past year. City Trees saw an overall increase of 152.41% increase in net income from the previous year’s quarter. Also, the brand achieved high ranks with tinctures and concentrates across Nevada. Notably, of all the 58 brands included in BDS analytics’ cannabis concentrates category, City Trees ranked 3rd for units sold in the quarter.
Trulieve Cannabis Corp (OTCMKTS: TCNNF) Reopens North Port Dispensary, Formerly Harves House of Cannabis
Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the reopening of a North Port, Florida dispensary. This dispensary located in the Sarasota area is the 92nd Trulieve location in the state and was previously named Harvest House of Cannabis.
Trulieve reopens North Port dispensary.
When the North Port site reopens as Trulieve, it will greet Harvest patients with the same devoted personnel and high-quality service as when it closed for renovations and rebranding. Trulieve announced the completion of its purchase of Harvest Health and Recreation Inc. on October 1, with all Harvest dispensaries in Florida closed for rebranding to Trulieve. Throughout the month of October, the Company will continue to reopen Harvest sites across Florida.
The company is inviting the community to celebrate the reopening of its dispensary with all-day specials and swag giveaways. On launch day, all patients, from newcomers to long-time Trulieve patients, will be eligible for a 25% discount at the North Port facility.
Patients will find the largest assortment of CBD and THC products in Florida, including edibles, concentrates, smokable flowers, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as web-based ordering and in-store pickups.
Products available online and in-store
Trulieve’s whole product portfolio is available for online orders to aid patients with ordering, with in-store pickup or home delivery options available across the state depending on customer preference. In addition, Trulieve provides complimentary 30-minute virtual consultations with a Trulieve expert to assist with product, device, or doctor’s suggestion questions. Appointments are available on Trulieve’s website and open to all patients, even if they are new to medical cannabis or those searching for new therapeutic choices.
The company is keeping an eye on the COVID-19 situation and is committed to limiting the virus’s spread. Trulieve requires all staff, regardless of vaccination status, to put on masks in addition to following strict cleanliness and safety measures.
ILUS International Inc. (OTCMKTS: ILUS) Announces Award Of a $1 Million Contract For Phase 2 Burj 2020 Project
ILUS International Inc. (OTCMKTS: ILUS) has announced that BDC Fire which it acquired on April 12, 2021, which had received three contract awards estimated at $1.5 million, has now received a $1 million contract for phase 2 of the Burj 2020 Project.
BCD Fie receives another $1 million contract
BCD Fore had previously received a contract for fire systems installation for the Burj 2020 Tower in Dubai. The company started work on the project inQ3 2020, and the contract value for the phase is around $1 million.
The company is committed to completing the project and upcoming projects, and as a result, it is recruiting an additional 45 technicians and salespeople. Hiring more technicians puts the company in a position to apply for the lucrative A-level license for installation, supply, and maintenance of fire systems in industrial, residential, and oil fields.
ILUS Managing DirectorJohn-Paul Backwell said, “BCD Fire has achieved so much since we acquired it earlier this year and the award of this next phase of the Burj 2020 project is reward for the progress made by the ILUS and BCD teams. Obtaining the A-level license will rocket this acquisition to a whole new level. There has also been overwhelming interest from regional Fire Safety Training Companies in our new Virtual Reality Fire Extinguisher Training Courses which are being launched this month.”
FireBug and TVC received numerous purchase orders
CEO Nick Link stated, “ILUS just closed out its best quarter yet and we are looking forward to releasing an update on this in the next week or so once the team has finished consolidating the figures. FireBug and TVC have received several purchase orders during the 3rd quarter and they have been making excellent progress, but we have felt it best to provide updates on the more significant deals in the region of $1 million and upwards or noteworthy clients.”