Breaks Categories: News

ThursdayAug 18, 2022 12:25 pm

CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Progress on DLC Acquisition, Secures New Financing

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, today updated its recent announcement of the proposed acquisition of Diagnostic Lab Corporation of Englewood Cliffs, New Jersey (“DLC”), a diversified food and agriculture safety company, as well as announced the recapitalization of the company. According to the update, Grapefruit is finalizing its due diligence on DLC and is in the final stages of negotiating the terms of its anticipated financing and structuring of the transaction documents, all of which it expects to complete in the next several weeks. “We are providing this update at this time to inform our many…

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WednesdayAug 17, 2022 1:02 pm

CannabisNewsBreaks – Cilicon, Vape-Jet Collaborate to Deliver Intelligent, Integrated Vaporizer Solution

Cilicon, a global provider of cannabis vape hardware, together with Vape-Jet, a U.S.-based infrastructure platform for cannabis oil-filling, today announced the forming of an official partnership to provide an intelligent, one-stop product solution for global cannabis brands. With a mutual understanding of the value of technology for business growth in today’s digital economy, Cilicon and Vape-Jet have launched services for cannabis vaping tech development, hardware manufacturing and filling machines for all brands in the cannabis vaporization industry. The partnership aims to reduce the time and financial budget for industry practitioners focused on cannabis vaporization with smart technology and integrated services.…

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TuesdayAug 16, 2022 3:01 pm

CannabisNewsBreaks – AmeriCann Inc. (ACAN) Reports Record Net Income, Revenue

AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, has released its financial and operational results for its fiscal quarter ending June 30, 2022. According to the company, July revenue set an all-time monthly record. Numbers showed a significant increase in year-over-year quarterly net income and revenue, with both being records for the Company for the quarter ending June 2022. Revenue increased over 36% for the quarter ended June 2022 relative to the same quarter 2021, an increase of $213,188. Quarterly gross margins were 98.5%. The company attributed the increased revenue to products produced and…

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TuesdayAug 16, 2022 11:11 am

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Releases Financial Results for H1 2022

Flora Growth (NASDAQ: FLGC), a manufacturer and distributor of global cannabis products and brands, is reporting its financial and corporate results for the six months ending June 30, 2022. Highlights of the report include revenue for the company increasing 604% from the same period last year, reaching ~$15 million while gross profit for the company increased to ~$7 million, an increase of 547%. In the report, the company reaffirmed its 2022 revenue guidance of $35 million to $45 million, which represents an increase in projected revenue of between 300% to 400%. “In the first half of 2022, Flora delivered on…

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MondayAug 15, 2022 11:56 am

CannabisNewsBreaks – LFTD Partners Inc. (LIFD) Releases Q2 2022 Financial Report

LFTD Partners (OTCQB: LIFD), the corporate parent of leading cannabis and psychedelics manufacturer Lifted Made, is reporting on its second quarter 2022, which is the period ended June 30, 2022. Highlights of the report include revenue for the quarter totaling $16,776,502, a 151% increase from the $6,695,144 reported in Q2 2021, and an increase in operating margin of 3.14%, with Q2 2022 coming in at 26.40%. GAAP net income from the quarter increased — the eighth consecutive quarter of upward movement — totaling $3,219,460 up from $1,596,154 the same period last year. The company reported a 64% increase in basic…

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ThursdayAug 11, 2022 12:17 pm

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Discusses Biotech Industry Valuation Metrics

Lexaria Bioscience (NASDAQ: LEXX, LEXXW) is a global innovator in drug delivery platforms. The company today issued information to its stakeholders as an aid to conveniently research and understand various non-affiliated third-party sources and their methodologies for valuing biotech and pharmaceutical companies. “Biotech companies with little to no revenue can still be worth billions,” Raphael Rottgen, CFA, FRM, was quoted in the press release. “While valuations can be extremely low or extremely high, there is often underlying logic in identifying risks and arriving at those valuations. Developing new drugs can have significant costs of over $1 billion and can take…

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WednesdayAug 10, 2022 12:38 pm

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Receives Positive FDA Feedback Concerning Opening IND Program

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today announced its receipt of a positive full written response from the Food and Drug Administration (“FDA”) from its pre-Investigational New Drug (“Pre-IND”) meeting regarding DehydraTECH-CBD for the treatment of hypertension. According to the update, the FDA confirmed agreement with Lexaria’s proposal to pursue a 505(b)(2) new drug application (“NDA”) regulatory pathway for its program. This is advantageous because the abbreviated pathway, as it is often described, typically enables a faster route to commercial approval than the traditional 505(b)(1) NDA pathway. “We are very pleased to have received…

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WednesdayAug 10, 2022 12:22 pm

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Earnings Conference Call, Webcast

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, has scheduled a conference call and webcast to discuss its earnings for the first half of 2022. The call is slated for Monday, Aug. 15, 2022, at 4:30 p.m. ET. the company plans to release its financial report and numbers prior to the call. During the call, company officials will discuss the financial and operations results as well as provide an update on the company’s operations, house of brands and life sciences strategies; the event will also include time for a Q&A. An…

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TuesdayAug 09, 2022 12:41 pm

CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Board Appointment, Changes

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, today announced the appointment of Nicole Lemerond to its board of directors, effective immediately. Lemerond is a financial executive with over 25 years of experience in investment management, private equity, investment banking and leveraged finance. Throughout her career, she has established and led health care groups at leading investment firms and has also worked at several large financial institutions, including Lehman Brothers and The Carlyle Group. Concurrent with Lemerond’s appointment, Adam Cutler has decided to transition off the board of directors. Cutler has served…

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MondayAug 08, 2022 12:48 pm

CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Poised in the ‘Future of Agriculture’

Advanced Container Technologies (OTC: ACTX) today announced that it is operating in a sector that Barclays Bank says is gaining traction as a sector for investment. According to Jed Lynch, head of Americas, sustainable and impact investment banking at Barclays, “Agriculture has historically been viewed as a mature industry, but we are now seeing significant technology-led innovation across the sector. As a result, we’re seeing a noticeable increase in high-growth startups, venture funding, M&A activity and public-market interest in this space.” “We are in the right sector at the right time,” Douglas Heldoorn, CEO of Advanced Container Technologies, said in…

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