Company News

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. Hempsana Holdings Ltd. today announced third quarter financial results for the three- and nine-month period ended September 30, 2021. Randy Ko, Hempsana’s CEO, commented: “during the third quarter, we successfully completed the RTO ...

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Hempsana Holdings Ltd. (the " Company " or " Hempsana ") today announced third quarter ("Q3") financial results for the three- and nine-month period ended September 30, 2021.

Randy Ko, Hempsana's CEO, commented: "during the third quarter, we successfully completed the RTO and then turned our attention to our manufacturing and operational capabilities. Health Canada also amended our cannabis licence and authorized us to actively sell cannabis extracts, beverages, edibles, and topical products. This is great news, as it means that we can now supply and sell finished cannabis products directly to provincial distributors and other authorized Canadian retail supply channels. In order to leverage our new capabilities, we continued to establish relationships with supply partners, leading brands and corporate customers. While the market conditions for licensed processors have been challenging, we believe that we have laid a foundation for long term growth."

Operational and Financial Highlights:

  • Operationalized Isolate and Minor Cannabinoid Production Capabilities: During the quarter, the Company invested $110,374 to extend their commercial production capabilities to support the production of isolates and minor cannabinoids.
  • Increased Production Utilization to 65%
  • Processed 500+ kgs of Cannabis Biomass
  • Processed 50+ kg of THC Crude
  • Processed 150+kg of CBD Crude
  • Processed 10+kg of CBD Distillate
  • Total Net loss and comprehensive loss for Q3 2021 was $(2,460,126), compared to $(302,453) in Q3 2020.
  • Total expenses in Q3 2021 were $2,483,676 compared to $297,807 in Q3 2020. The higher expenses were primarily driven by Listing Expenses of $1,949,739, of which $1,747,239 were non-cash expenses that reflected the value of the shares given to former shareholders of Stralak Resources Inc. as part of the RTO.
  • The Company also incurred one time professional & legal expenses for the RTO transaction as well higher costs as the Company began commercial production activities.

About Hempsana Holdings Ltd.

The Company's business involves the manufacturing of cannabis derivatives and producing cannabis extracts for use in finished products, including vapeables, topical creams and infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally.

Additional Information

For additional information regarding Hempsana, please contact:

Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@Hempsana.ca

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


News Provided by GlobeNewswire via QuoteMedia

Avicanna Announces Closing of Non-Brokered Private Placement of Convertible Debenture Units

Avicanna Announces Closing of Non-Brokered Private Placement of Convertible Debenture Units

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS

Avicanna Inc. (" Avicanna " or the " Company ") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), an innovative, commercial stage, and international biopharmaceutical company focused on the development advancement, and commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has closed a non-brokered private placement (the " Offering ") of 1,626 convertible debenture units of the Company (the " Units ") at a price of $800 per Unit (representing an original issue discount equal to 20%), for aggregate gross proceeds of approximately $1,550,400. Each Unit consists of an aggregate of $1,000 principal amount of secured subordinated convertible debentures (the " Debentures ") and 545 common share purchase warrants (each, a " Warrant ").

Keep reading... Show less

Curaleaf Announces Revised Date of Fourth Quarter and Fiscal Year End 2021 Earnings Conference Call

Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company") a leading international provider of consumer products in cannabis, today announced that it will report its financial and operating results for the fourth quarter and fiscal year ended December 31, 2021 after market close on March 3, 2022 .

Management will host a conference call and audio webcast that evening at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company's operational and financial highlights.

Keep reading... Show less
36 of the Best Ideas Companies to Present at the 2nd Annual Winter Wonderland Virtual Investor Conference on February 8th - 11th, 2022

36 of the Best Ideas Companies to Present at the 2nd Annual Winter Wonderland Virtual Investor Conference on February 8th - 11th, 2022

The Winter Wonderland Best Ideas Virtual Investor Conference will take place on February 8th - 11th, 2022, where 36 SmallCap, MicroCap and NanoCap public companies will be presenting via virtual webcast to a global investor audience

The virtual conference begins on Tuesday, February 8th, 2022, with company presentations beginning at 8:30 am Eastern Time. Presentations will be webcast on Tuesday and Wednesday (February 8th and 9th) with 1x1 Meetings being held on Thursday and Friday (February 10th and 11th).

Keep reading... Show less

Trulieve Announces Closing of $75 Million Private Placement of 8% Senior Secured Notes

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced that it has closed a second tranche of its previously announced private placement of 8% Senior Secured Notes due 2026 (the "Notes") for aggregate gross proceeds of US$75.0 million (the "Offering"). Together with the first offering of Notes, which closed on October 6, 2021 Trulieve has issued Notes totaling aggregate gross proceeds of US$425.0 million .

The Notes have the same terms as those issued on October 6, 2021 . The press release from the closing of the October 2021 offering can be found here.

Keep reading... Show less

Cresco Labs Announces Launch of Khalifa Kush Products at Cookies Dispensaries Throughout California

Wiz Khalifa's bestselling cannabis brand expanded to California through an exclusive cultivation & product collaboration with the Company's FloraCal Farms and Continuum platform

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, today announced flower and pre-rolls from Khalifa Kush are available for sale at Cookies stores throughout California. Cresco Labs has an exclusive cultivation and product collaboration agreement with multi-platinum-selling, GRAMMY® and Golden Globe® Award-nominated recording artist Wiz Khalifa's cannabis brand. Through the partnership, the Company's FloraCal Farms and Continuum distribution platform will be the sole producer and distributor, respectively, of premium branded products featuring Khalifa Kush's signature "KK" strain in California. An expanded line is expected to arrive at additional retail partners throughout the year.

Keep reading... Show less
closeup of cannabis plant

Australian Cannabis Outlook 2022: Numbers Point to Positive Signs

Click here to read the previous Australian cannabis outlook.

Australia is on a path of building acceptance and understanding of the potential attached to cannabis as a legitimate business. Will 2022 be the year it gains full mainstream status?

The Australian cannabis market saw a significant period of growth in 2021, including both in cannabis spending and the number of patients registered in the country. Additionally, companies in the space continue to explore opportunities abroad with neighbouring markets and friendly cannabis markets.

Here the Investing News Network (INN) provides a snapshot into the expectations for the market in the new year and what some experts are already predicting.

Keep reading... Show less

Latest Press Releases

Related News

×