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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Aphria, Inc. (NASDAQ: APHA), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Curaleaf Holdings, Inc. (OTC: CURLF) (CSE: CURA) and Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL).
The clear winner on Election Day was marijuana. Medical or recreational marijuana is now legal in five more states. In a clean sweep, voters in Arizona, Mississippi, Montana, New Jersey, and South Dakota all backed ballot measures legalizing marijuana, opening new market opportunities.Leaders in the cannabis space are now focused on delivering profitability, as the industry matures. Wall Street Reporter highlights the latest comments from industry thought leaders:
Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL) CEO Kim Rivers: "Trulieve At Forefront for Profitability, Execution and Organic Growth"
"...Q2 2020 was an incredibly strong quarter. Trulieve exceeded consensus for revenues and profitability, achieving approximately $121 million in revenue, representing a sequential quarter-over-quarter increase of 26%. Our adjusted EBITDA was $60.5 million or 50%. This is our 10th quarter of consecutive growth and profitability…"
"...We were disciplined and patient in 2019 as the capital markets changed and during the first half of 2020 as COVID further altered the market, but we have now built on a pipeline of expansion opportunities that will continue to unlock our value...We're also targeting expansion through state application processes, our applications team has engaged in a number of opportunities that will strategically make sense for Trulieve. We've targeted our applications primarily in states that will support our vertical model, while also supporting the hub model that we've spoken about, which is how we as a company envision the future cannabis landscape….As we enter into the second half of the year, we will continue to actively explore M&A opportunities that will positively contribute to our business and adhere to our strict growth criteria. Our goal to position ourselves as the top cannabis MSO, Trulieve has come to the forefront for profitability, execution and the ability to successfully grow organically."
Trulieve Cannabis (OTCQX:TCNNF) Q2 2020 Earnings Highlights: https://bit.ly/2U0SPtM
Icanic Brands (OTC: ICNAF) (CSE: ICAN) CEO Brandon Kou: "Ready to Scale with Quality Brands, and a Superior Gross Margin Profile"
Icanic Brands (OTC: ICNAF) (CSE: ICAN) was recently a featured presenter at Wall Street Reporter's "Investors Discovery Day" livestream event. ICNAF is a leader in the California market, and specifically in the pre-rolled space, with it's award-winning, "Ganja Gold" brand, sold in hundreds of retail outlets. A key component of ICNAF's success is it's pre-roll manufacturing technologies which produce consistent, high-quality pre rolls at high gross margins - a major competitive advantage in the cannabis industry.
Watch ICNAF Investors Discovery Day Livestream Video: https://bit.ly/3p3t36n
In his livestream presentation, ICNAF CEO Brandon Kou outlines the company's growth strategy, based on a "three pillar approach": sales platform, technology, and vertical integration which lead to a superior gross margin profile. With a profitable foundation established, ICNAF is now at an inflection point where it's ready to start scaling revenues and expand with strategic M&A opportunities. VIDEO: https://bit.ly/3p3t36n
October 29 - ICNAF announces expansion to new facility in Concord, California, increasing manufacturing capacity for it's pre-roll brands. Over the past 12 months, ICNAF has seen a significant increased demand for its pre-roll brands (Ganja Gold and Taylors) and the addition of automation equipment that has been sourced and developed to keep up with the demand requires a much larger physical manufacturing facility.
Watch ICNAF Investors Discovery Day Livestream Video: https://bit.ly/3p3t36n
Curaleaf Holdings, Inc. ( OTC: CURLF ) (CSE: CURA) CEO Joe Lusardi: "Executing On All Fronts and Prudently Deploying Capital to Key Markets"
"...Our second quarter results reflect the strong fundamentals of our underlying business and then tremendous operating leverage inherent in our business as we continue to scale. Our strategy, our vertical integration, early in the lifecycle of our core markets is paying dividends. We believe our focus on driving return on invested capital in markets with attractive qualities, is key to driving long-term shareholder value. We continue to see tremendous opportunity to further solidify our position in each of our markets of operation, while keeping a watchful eye out for new opportunities that may present themselves organically or through acquisition."
"...Organically, we expect to add an additional 17 Curaleaf dispensaries across 5 states and expand our cultivation capacity by over 250,000 square feet across Arizona, Massachusetts, Illinois and Florida all by year end and complete our New Jersey expansion in early 2021. When coupled with our strategic acquisitions, our reach will grow to more than 100 dispensaries. Ultimately, we expect to grow our operations to nearly 140 dispensaries and 2.3 million square feet of cultivation space. This will further enhance Curaleaf position as the most well-diversified, vertically integrated cannabis company in the United States with access to nearly two-thirds of the entire U.S. population."
"...Curaleaf remains one of the best positioned companies to emerge from the crisis stronger than ever. As we enter the second half, we are poised to deliver strong growth to have successfully completed acquisitions. Additional license wins and organic growth of our existing business. We are executing on all fronts, prudently deploying capital to key markets, expanding both our brick-and mortar and online presence. We remain focused on growing our cultivation and processing, sales and marketing in innovative and proprietary R&D to deliver brands that resonate with both our patients and lifestyle customers. We continue to make progress and plan investments in several key states, many of which will be completed The second half of 2020 we expect these to yield strong growth both in the top and bottom line, leading the Curaleaf becoming free cash flow positive after all plan capital expenditures in the coming quarters."
Curaleaf ( OTC: CURLF ) Q2 2020 Earnings Call Highlights: https://bit.ly/3eylPm0
Aphria, Inc. (NASDAQ: APHA) CEO Irwin Simon: "Laser Focus on Profitability"
"...We are outperforming many of those in the marketplace with solid market share gains in Canada with new brands, product innovation, which will continue to evolve as we anticipate changing consumer and patient preferences and demands....We have made substantial changes across our entire organization to position Aphria for sustainable long-term growth with a strategic focus on solidifying our, strong Canadian foundation by driving category leadership with strong carefully curated brands and the introduction of many new innovative products and increasing our market share in the Canadian market with a focus on operational excellence and being which we are that low cost, high-quality producer, increasing our profitability through continued cost managing and having that strong cash position for growth and expanding our geographic reach, where it makes sense and that is something that we have focused on. These initiatives helped propel Aphria forward and be the number one cannabis company today."
Aphria (NASDAQ: APHA) Q1 2021 Earnings Call Highlights: https://bit.ly/38grXyn
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