MedMen Enterprises (CSE:MMEN) released consolidated financial results for its fourth quarter and fiscal year 2018 which ended on June 30.

As quoted in the press release:


Fourth Quarter and Fiscal Year 2018 Highlights

Financial:

  • Fourth quarter 2018 systemwide revenue was $20.6 million, up 1,317 [percent] from $1.5 million in fourth quarter 2017 and 44 [percent] from $14.3 million in third quarter 2018. The increase was primarily due to the majority of MedMen’s stores coming on line during the quarter.
  • Fiscal year 2018 systemwide revenue was $39.8 million, up 1,390 [percent] from $2.7 million in fiscal year 2017.
  • Reported average sales per square foot of $6,257 including Abbot Kinney and customer conversion rate of 84 [percent] for all California stores for the fourth quarter.
  • Reported over 700,000 sales transactions from all MedMen stores for fiscal year 2018.

Business Development:

  • Acquired the assets of Nevada Wellness Project, LLC, including a dispensary license on June 29.
  • Opened its store on Venice’s Abbot Kinney Boulevard on June 9.
  • Opened Project Mustang, a state-of-the-art cultivation and production facility in Reno, Nevada.
  • Acquired all of the assets of San Diego Health and Wellness Center, Inc., dba Apothekare, including a dispensary license on February 16.
  • Acquired two Nevada dispensary licenses from LVMC, LLC and Just Quality, LLC in January 19 and February 9, respectively.

Click here to read the full press release.

Source: www.businesswire.com

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective July 5, 2021 . Marcum was appointed following the resignation of MNP LLP (“MNP”) as the Company’s independent registered public accounting firm effective July 5, 2021 .

“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

Keep reading... Show less

Cannabis-infused beverages are not a new product concept, but this summer Canadian drink makers hope consumers will discover them for the first time.

Recreational cannabis beverages have beguiled Canadian producers through different avenues, and many continue to make investments. The promise of these drinks lies in the potential of a more welcoming option for new consumers who may be out of their depth with rolled-up dried flower.

Keep reading... Show less

In the news release, BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years, issued 07-Jul-2021 by BioHarvest Sciences Inc. over PR Newswire, we are advised by the company that an incorrect version of the release was issued inadvertently. The complete, corrected release follows:

BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years

Keep reading... Show less

Trulieve is the first medical cannabis operator to start planting in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today that it commenced operations in West Virginia . The Company has begun cultivation at their 100,000 square foot size facility in Huntington, West Virginia .

Keep reading... Show less

– The Company demonstrates the efficiency and reliability of its BioFarming technology by reducing production cycle time for Cannabis from 14-23 weeks to 3-4 weeks.

– The Company’s BioFarming technology will allow the Company to harvest 13-17 cycles per year versus 2-4 cycles per year for conventional Cannabis agriculture.

Keep reading... Show less