Cannabis News

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Aurora Cannabis (NYSE: ACB)(TSX: ACB), Aphria, Inc. (NASDAQ: APHA), Icanic Brands (OTC: ICNAF) (CSE: ICAN), and Canopy Growth Corporation (NYSE: CGC) (TSX: WEED).

Cannabis leaders are emphasizing premium brands and tight operational execution as the key to profitability, and transformation into powerhouse Consumer Packaged Goods companies. Wall Street Reporter highlights the latest comments from industry thought leaders:

Aurora Cannabis (NYSE: ACB) (TSX: ACB) CEO, Miguel Martin: "Focused on Delivering ‘Quality Revenue' through Premium Brands"

"...the consumer has demonstrated very dynamic tendencies with market share moving very quickly between brands, unlike in more stable CPG categories. This provides us with a great opening for our pivot to premium brands….Data from Canada and other mature markets indicate that premium and super premium brands have been and will continue to be successful in all formats. Therefore, Aurora has a real opportunity for a more articulated and balanced portfolio offering with a greater focus on higher margin and sustainable premium assets, such as vapes, pre-rolls and premium flower offerings across multiple price tiers....

We are also working to expand our leading concentrates and to refocus our dried flower business toward higher gross profit dollar pools...The key of course, is to ensure that in doing so we are delivering more dollars to the gross profit line versus simply just delivering low margin revenue. We are therefore much more interested in our market share within premium and super premium categories, along with our market share of categories, such as vapor, pre-rolls and concentrates that are margin accretive compared to our market share in the deep discount flower business...our intention is to generate not just revenue but quality revenue, that will deliver a healthy gross profit dollar as opposed to essentially just a gross margin percentage."

Aurora Cannabis (NYSE: ACB) Earnings Call Highlights: https://bit.ly/3lgMGWB

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

November 10 - Ganja Gold has been recognized by LeafLink as Fastest Growing pre-rolls in the nation. LeafLink analyzes orders between 1,700+ cannabis brands and 5,500+ retailers, in North America. The Fastest-Growing categories represent the most popular brands and products on the platform in 2020.

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

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

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), CEO David Klein: "Momentum is Building - On Path to Profitability"

"...Momentum is building across our key businesses as our new strategy is coming to fruition. We achieved record quarterly revenue in Q2 led by our Canadian recreational business and strength across our strategic businesses, including Storz & Bickel, This Works in BioSteel...We're continuing to improve execution and agility. Our fill rates are now consistently exceeding 90%, our flower quality improvement program is generating positive results, and we've improved our new product development process to allow us to bring better products to market faster...We're accelerating our path to profitability, notably in our largest market, Canada...I'm confident that we're now firmly on a path to achieve positive adjusted EBITDA at some point next fiscal year."

"We're building a portfolio of scalable brands across cannabis and CPG. Our goal is to become a cannabis-focused CPG company. We're bringing our THC brands such as Tweed and Houseplant into the U.S. market through multi-state operator relationships or CBD line extensions. We're growing new-to-world CBD brands, such as Martha Stewart, to meet consumer needs. We're establishing routes to market with our CPG brands such as BioSteel, This Works, and Storz & Bickel. These are strong brands in their own right with distinct value propositions. Building these brands today allows us to generate revenues without the headwinds of regulatory challenges. And then, we plan to line extend these brands into CBD or even THC as regulations evolve.We will layer in additional brands over time, which will create further scale with our existing distribution networks and further build our relationships with retailers..."

Canopy Growth (NYSE: CGC) Earnings Call Highlights: https://bit.ly/32y4Ag1

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Canopy Growth Announces Closing of Previously Announced Exchange Transaction

Retirement of Approximately $263 Million of Debt Strengthens Canopy Growth's Balance Sheet and Preserves Cash to Support Future Growth

Canopy Growth Corporation (" Canopy Growth " or the " Company ") (TSX: WEED) (NASDAQ: CGC) announced today that it has closed (the " Final Closing ") its previously announced exchange transaction (the " Transaction ") of certain 4.25% unsecured notes due 2023 (the " Notes ") in order to reduce its debt obligations by approximately $263 million . Constellation Brands, Inc. (" CBI "), through its wholly-owned subsidiary Greenstar Canada Investment Limited Partnership (" GCILP "), participated in the Transaction.

News Provided by Canada Newswire via QuoteMedia

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Cannabis Weekly Round-Up: US Legalization Push Causes Stock Run

Cannabis market participants learned this past week about another potential legalization bill that is set to make an appearance in the US. Stocks rose in response to this long-shot attempt at reform.

In Canada, there’s an increasing challenge in retaining budtenders at cannabis dispensaries across the nation.

Keep reading to find out more cannabis highlights from the past five days.

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Cresco Labs Announces Voting Results of Its Annual and Special Meeting of Shareholders

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (" Cresco Labs " or the " Company "), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, conducted its annual and special meeting of shareholders (the " Meeting ") today, July 15, 2022 at 10:00 a.m. (Central Time).

At the Meeting, the number of directors on the board of directors of the Company for the ensuing year was fixed at eleven (11) by the shareholders and the following nominees for election as directors of the Company were elected by a majority of votes cast by the shareholders virtually present or represented by proxy at the Meeting:

News Provided by Business Wire via QuoteMedia

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Columbia Care Obtains Final Order of the Supreme Court of British Columbia Approving Business Combination with Cresco Labs

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) ("Columbia Care" or the "Company"), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., announced today that it has obtained the final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement (the "Arrangement"), whereby, among other things, Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) ("Cresco Labs") will acquire all of the issued and outstanding shares of the Company.

The final order follows on achieving overwhelming shareholder approval for the business combination at the special meeting of shareholders of the Company held on July 8, 2022.

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Green Thumb Industries Announces Exercise of Extended Maturity Date of Senior Debt Facility

Green Thumb Industries Inc. ("Green Thumb") (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE dispensaries today announced it has exercised its right to extend the maturity date of its senior non-brokered debt by one year, from April 30, 2024 to April 30, 2025.

The current senior secured notes (the "Notes"), which have a total principal amount of approximately $250 million, bear interest at a rate of 7% per annum and is paid quarterly. The extended maturity date did not involve any amendments to the Notes or any additional consideration to the existing lenders.

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Cronos Group Inc. to Hold 2022 Second Quarter Earnings Conference Call on August 9, 2022

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2022 second quarter earnings conference call on Tuesday, August 9, 2022 at 8:30 a.m. ET. Cronos' senior management team will discuss the Company's financial results and will be available for questions from the investment community after prepared remarks.

To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations . To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website.

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