Connect with us

Business

General Cannabis Corp (OTCMKTS:CANN) Plans To Acquire A Denver Vertically Integrated Cultivator And Retailer

Published

on

General Cannabis Corp (OTCMKTS:CANN) is pleased to announce that it will soon make its latest acquisition. However, it first needs to make its entry into a non-binding term sheet. The target is to acquire a huge deal of assets belonging to one Colorado-based licensed recreational cannabis cultivator.

About the business deal

This Colorado business has been running some two indoor cultivation facilities. Asides from that, it has also been operating a retail cannabis dispensary which is situated in central Denver. This dispensary has risen to become one of the most trusted and successful dispensaries in Denver. Nevertheless, it prides itself in being the holder of a library of world-class cannabis genetics.

The Company has already signed the Colorado House Bill 1090 (“HB-1090”). Probably, this is the reason behind the latest activities the company has been undertaking. This law gives a leeway for the interested companies to acquire licensed cannabis companies in Colorado. The approval by the law might witness more companies follow suit in making these acquisitions.

Currently, the parties in charge are working on the various regulations in line with the implementation of the law. When finalized, the business giant reveals that it won’t hesitate in entering the binding transaction for the Business.

Focus into the future

General Cannabis has revealed its plan to purchase the Company’s common stock. These will include the company’s tangible and intangible assets. The business guru expects to pay 40% in terms of shares and sixty percent in form of cash. Focus will at some point shift to the number of common shares issued at closing. In this case, the determination will take into account the 30-day volume weighted average price.

The General Cannabis Chief Executive Officer and Executive Chairman Michael Feinsod expressed his excitement in the latest developments. He said that the acquisition of the third licensed Colorado cannabis operator was a major step forward for them. The official looks forward to the company expanding its business to central Denver. According to him, the planned move will show their dedication to an expansion strategy.

General Cannabis is set to also expand its customer base by a significant margin if all moves according to plan.

Business

Green Organic Dutchman Holdings (OTCMKTS:TGODF) To Review Financing Alternatives For Construction Purposes

Published

on

Green Organic Dutchman Holdings (OTCMKTS:TGODF) has, over the years, been focusing on the production of premium organic cannabis products. The business guru has today disclosed details about its credit financing. According to its spokesperson, the company needs to complete the construction of a number of its business facilities. The facilities are in Ontario, Ancaster, and Phase 1a at Valleyfield, Quebec. Lately, the business has been reviewing some financial alternatives to see the ones to settle for.

The turn of events

In a statement, the company has revealed that the market conditions have been very dynamic and thus need from proper planning. It has, in the past, held discussions regarding some commercial bank facilities and equipment leasing in a bid to identify what would work. The company admits that the discussions were fruitful since it was able to chart the way forward. However, the main point of the discussion wasn’t arrived at. That was because most of the financing sources turned out to be inappropriate. The company says that most of them did not match the required timeframes. It says it had no otherwise but to start reviewing other alternatives.

Plans moving forward

The completion of these facilities is a costly undertaking, but the company seems quite determined.

An official working with The Green Organic Dutchman Holdings but who wanted his identity kept anonymous has made a point. He says that the company, at the moment, has no debt. However, it has about $56.7 million available in cash in Canada. It also has some $40.2 million that will take care of the company’s capital expenditures. The construction activities at the Ancaster are almost reaching completion according to sources. The business giant says that in a matter of about 6-weeks, it will have completed the construction activities here.

Green Organic Dutchman Holdings is optimistic it will get the financing that it requires. In that particular regard, it will channel the funds towards accelerating its commercial production. The goal is to increase its revenues by a significant margin.

So far, the company has gotten into several supply agreements. Some of them are with Alberta, British Columbia, and Ontario. The deal is to engage in the distribution of products on a nationwide scale.

Continue Reading

Business

HEXO (OTCMKTS:HYYWF) Expects To Post Net Revenues Of $16.5 Million in Q4 2019 And $48.5 Million For FY 2019

Published

on

HEXO (OTCMKTS:HYYWF) expects to post net revenues of up to $16.5 million in Q4 2019. The company is hoping to post revenues of up to $48.5 million for FY 2019. It has withdrawn the previously announced outlook for FY 2020.

Q4 results below the estimates

Co-founder and Chief Executive Officer of Hexo, Sebastien St-Louis, said the net revenues of Q4 missed the forecast mainly because of reduced sales. He said the company is not happy with the results and will change operational and sales strategies to boost sales in the future.

The company is engaged in re-configuring the operations in the last quarter and would focus on high selling strains. Hexo began a new sales strategy to improve performance in the coming quarters.

Withdraws outlook for FY2020

A delay in getting the nod from government departments for the products extracted from cannabis together with store rollouts at a slower pace and pricing pressures are felt nationwide. A sluggish opening of retail stores has limited the reach of Hexo to significant customers in the market. It also sees an unpredictability to ensure the availability of cannabis-derived products because of delays in jurisdictional decisions and uncertainty in regulatory approvals in Canada. Therefore, Hexo decided to remove the previously announced forecast for FY 2020.

CEO said it is painful to withdraw the outlook for FY 2020. The company decided to withdraw the outlook because of the prevailing uncertainties in the market. Hexo is evaluating its operations and plans to improve efficiencies and achieve profitability. The company is focusing on strategic priorities to offer rich dividends to the shareholders in the long-term.

Hagens Berman alerts investors

Hagens Berman warned investors of an investigation into Hexo on violation of security laws. The firm informed investors to file a loss-form to find out if they qualify to recoup investment losses they have suffered in Hexo. The investigation team will check whether Hexo has misled the investors by exaggerating about its business model and the sales of cannabis products through the retailers.

Chief Finance Officer of Hexo, who joined the company a few months back, resigned abruptly. Following the exit of CFO, Christopher Carey, an analyst at Bank of America, has downgraded the stock to underperform.

Continue Reading

Business

LeafBuyer Technologies Inc. (OTCMKT:LBUY) Reports 59% YoY Growth In Revenue Following Optimization Of Its Platforms

Published

on

By

LeafBuyer Technologies Inc. (OTCMKT:LBUY) has announced that its annual revenue for FY 2019 grew by 59%, reflecting the revenue booked this year against last year. This growth is above the industry average that currently stands at 24%.

Leafbuyer optimized platforms to be competitive

Kurt Rosner, the CEO of Leafbuyer, stated that they had spent the year optimizing their platforms to have the edge over competitors. He added that they were determined to provide unrivaled tech solutions for the fast-growing cannabis industry. Rossner said that the sales team has continued to execute the company’s strategy, and it is maintaining the momentum as fall approaches.

Over the past year, the company greatly expanded its reach to several states, including Oklahoma and California, among others. Thus has allowed the Leafbuyer to reach a wider audience and enabled targeted sales initiatives. In June this year, the company opened a satellite office in Los Angeles, which provided a centralized and reachable hub for the company’s West Coast customers. The Los Angeles office has sufficient staff to allow the Denver based sales representatives to focus on selling in the East Coast and Midwest regions.

Leafbuyer has expanded its marketing platform

Besides conventional online listing, the company has also enhanced its marketing platform, and now it includes texting as well as loyalty products. The CEO said loyalty had been the company’s fastest-growing segment, and they are optimistic that it will maintain that growth momentum going to 2020.

In August, the company stated that it is in a path to profitability, and that will achieve its goal in the first half of next year. The company’s aggressive growth strategy focuses on user acquisition, and they hope to double its organic growth by the end of this year. The company’s management team is expecting some acquisitions with robust synergies going forward. The company recently acquired Greenlight Technologies, which is an application development company based in California. Currents the management is in negotiations for the acquisition of CBD.io, a Las Vegas-based trade show.

Continue Reading
Advertisement

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade


FEATURED STORIES

Business22 hours ago

Green Organic Dutchman Holdings (OTCMKTS:TGODF) To Review Financing Alternatives For Construction Purposes

Post Views: 111 Green Organic Dutchman Holdings (OTCMKTS:TGODF) has, over the years, been focusing on the production of premium organic...

Business22 hours ago

HEXO (OTCMKTS:HYYWF) Expects To Post Net Revenues Of $16.5 Million in Q4 2019 And $48.5 Million For FY 2019

Post Views: 107 HEXO (OTCMKTS:HYYWF) expects to post net revenues of up to $16.5 million in Q4 2019. The company...

Business4 days ago

LeafBuyer Technologies Inc. (OTCMKT:LBUY) Reports 59% YoY Growth In Revenue Following Optimization Of Its Platforms

Post Views: 204 LeafBuyer Technologies Inc. (OTCMKT:LBUY) has announced that its annual revenue for FY 2019 grew by 59%, reflecting...

Business4 days ago

High Tide Inc. (OTCMKTS:HITIF) Report Impressive Q3 Financial Results with Revenue Growing 281%

Post Views: 168 High Tide Inc. (OTCMKTS:HITIF) has announced an inspiring financial result for its third quarter of 2019. The...

Business5 days ago

Kalytera Therapeutics Inc (OTCMKTS:KALTF) Provides Details About Its Latest Notice Of Allowance

Post Views: 148 Kalytera Therapeutics Inc (OTCMKTS:KALTF) has today revealed details regarding the EU Patent Application Number 14791611.8. According to...

Business5 days ago

Pharmacyte Biotech Inc (OTCMKTS:PMCB) Engages Cellular Biologist David A. Judd In An Interview

Post Views: 752 Pharmacyte Biotech Inc (OTCMKTS:PMCB) uses its live-cell encapsulation technology known as Cell-in-a-Box®  for the treatment of diabetes...

Business6 days ago

CV Sciences Inc (OTCMKTS:CVSI) enters a Distribution Agreement With Harris Teeter

Post Views: 141 CV Sciences Inc (OTCMKTS:CVSI) today announced its business collaboration with Harris Teeter. These two business giants target...

Business6 days ago

Tetra Bio Pharma Inc (OTCMKTS:TBPMF) Speaks Out On Its CAUMZ(TM) Kit

Post Views: 158 Tetra Bio Pharma Inc (OTCMKTS:TBPMF) is one of the leaders in the cannabinoid-based therapeutics sector. Some of...

Business7 days ago

Medical Marijuana Inc (OTCMKTS:MJNA) Speaks Out On The European Road To Area Tour

Post Views: 178 Medical Marijuana Inc (OTCMKTS:MJNA) made a mark by becoming the first company to unveil cannabis-derived nutraceutical products....

Business7 days ago

HempAmericana Inc (OTCMKTS:HMPQ) To Unveil Its New Smokable Hemp Flower Product Line

Post Views: 156 HempAmericana Inc (OTCMKTS:HMPQ) will, on November 2019, unveil its new Smokable Hemp Flower product line. The company...

Whats Hot

CULTIVATING

SHAREHOLDER VALUE

 

Trading Symbol

CSE: CHOO
OTCQB: CHOOF

Choom Holdings Inc. CSE: CHOO | OTCQB: CHOOF