LATEST ALERTS
US-based 22nd Century will sell its hemp/cannabis subsidiary, GVB Biopharma, to an entity affiliated with current GVB employees and will use the sale proceeds to pay off debt and further deleverage its balance sheet
22nd Century reported decreased revenues for the third quarter of 2023 and blamed demand challenges in its hemp/cannabis product distribution business, although this still represents the biggest part of its net revenue
22nd Century announced a positive second-quarter result for its cannabinoid business, with the division supplying most of its quarterly revenue
Canopy Growth will stop producing its own cannabis beverages, edibles, vapes and extracts as it continues to look at ways to increase profitability. Using a third-party sourcing model for these products will allow it to free up funds
Hemp production in the US suffered a major decline last year, with the planted area shrinking by 48% against 2021 and the total value of the harvested crop falling by 71%
US-based 22nd Century reported record cannabinoid ingredient volumes delivered in the first quarter of 2023 and expects those to increase further throughout the year
Producer Rubicon Organics delivered net revenue of CAD35.5m (USD26.1m) for the year ending 31st December 2022, which represents significant net revenue growth of 57% compared to 2021
Avicanna in Toronto reported total fiscal 2022 revenue up 24% from fiscal 2021, while in Pennsylvania, Zynerba Pharmaceuticals reduced its net loss last year by over $2m
Verano Holdings reported revenue up 19% to $879m in 2022 from $738m in 2021 and said it will continue to strengthen its business portfolio by focusing on targeted expansion and new product launches
US cannabis company Medicine Man Technologies, operating as Schwazze, saw an increase in revenue last year, helped by acquisitions, new store openings, entrance into the New Mexico market, and that state’s adult-use legalisation taking effect
International cannabis company IM Cannabis (IMC) reported a significant rise in its revenue for the whole of 2022 as well as the last quarter of the year
US cannabis company Columbia Care recorded a positive performance in 2022, despite macroeconomic headwinds that impacted consumers as well as wholesale market pricing
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