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Medmen Enterprises Inc (OTCMKTS:MMNFF) Reports Revenues Of $44 Million In Q1 2020: Retrenches 190 Employees

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Medmen Enterprises Inc (OTCMKTS:MMNFF) has reported revenues of $44 million in Q1 2020 on efficient operations in Arizona, Illinois, Nevada, California, and New York. It is an increase of 105% year on year. CEO and co-founder of Medmen, Adam Bierman, said it entered 2020 with a focus on building a financially flexible company. It plans to serve the interests of shareholders by ensuring free cash flow, right-sizing the organization, and making the business more efficient.

Executive Chairman, Ben Rose, said the company has put in significant efforts since 2016 to become a recognizable cannabis brand. It continues to capitalize on the opportunities in the cannabis space and improve profitability to withstand market fluctuations in the near-term.

Business highlights

In California, Medmen reported a sequential growth of 9% in Q1 2020 when compared to the previous quarter. The company owns 17 retail licenses, of which are 13 are operated as Medmen stores, in California.

In Nevada, the company’s Las Vegas Location on the Paradise is the second-best performing retail store in the US. Medmen inaugurated three locations in Florida that include one retail store each in Pensacola, Key West, and St. Petersburg. In Arizona, it operates three retail locations, of which the company acquired Level Up and Monarch in 2019.

Medmen is expecting a regulatory nod for its Fenway location in Massachusetts and expects to begin the construction in 2020. In Oak Park, Illinois, the company operates a medical dispensary. It operates four medical dispensaries in New York.

Medmen is renovating the production and cultivation facilities in Nevada, Mustang. It expects to operate the factory with full capacity in Q2 2020. In Medmen stores across Nevada, the company is acclaimed to be the highest selling pre-roll brand in the past eight weeks. Apart from selling its in-house brands, the company entered deals with Nature’s Lab and Platinum Vape for the production and distribution in Nevada.

Announced over 190 job cuts

As of today, Medmen has a debt of $223 million because of extravagant spending. To achieve positive EBITDA and focus on core markets, Medmen announced job cuts of over 190 and proposed the sale of the assets. Bierman said the company plans to reduce corporate overhead and increase market share and margins.

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Terrascend Corp (OTCMKTS:TRSSF) Speaks Out About Its Two Year Term Loan

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Terrascend Corp (OTCMKTS:TRSSF) has today announced the extension of its credit facility. It has also disclosed that JW Asset Management LLC will be entrusted with the management of funds. The maturity date for the mentioned faculty, which is said to be worth US$75 million, will be on December 18, 2019.

Ackerman’s take

The Executive Chairman of TerrAscend Jason Ackerman says that they have been hoping to witness the improvement of the banking, regulatory, and capital markets. He says that this is the best time for the company to obtain a non-dilutive source of business financing.

The Chief Investment Officer of JW Asset Management Jason Wild has been very supportive, according to this leader. He adds that they are putting in efforts targeted at expanding their hemp CBD market opportunities in New Jersey, Canada, Pennsylvania, and California.

Analysts have also aired out their views saying that TerrAscend has got all that it needs to uphold organic growth and profitability.

Wild’s remarks

Jason Wild has also spoken about the matter. The official says that he was impressed by JW Asset Management’s move last year to provide the original credit facility. He remembers quite well that this was the same time that TerrAscend had just kick-started its U.S. growth strategy after attaining third-quarter revenues amount to $1.8mm. The company upheld remarkable performance considering that it fetched $100mm in its previous quarter.

Wild says that he is amazed by the pace of the acquisitions and the organic growth as well. The other thing he has spoken about is the super license buildout in NJ.

He has also promised that the JW Asset Management won’t stop in its efforts to support Jason Ackerman, together with his team, achieve immense business success. He asserts that it is of the essence, adding value both as a shareholder and a lender as well.

The signing of this loan deal is set to take place at a later date. That is when Terrascend Corp will move ahead to unveil the definitive terms associated with the deal.

The company has also disclosed that it is looking into ways to enhance its products and services further.

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Lift & Co Corp (OTCMKTS:LFCOF) To Expand Business Operations In The US

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Lift & Co Corp (OTCMKTS:LFCOF) is quite pleased about the addition of the adobe advertising capabilities to its business undertakings. The Adobe Advertising Cloud demand-side-platform (DSP) is quickly getting adopted across the expansive and fast-growing digital marketing landscape. This cloud solution is growing quite popular among the various media and digital platforms for its effectiveness in reaching out to customers.

Details about the business strategy

It is also worth noting that this solution is powered by Nielsen. Its power lies in its capabilities in terms of helping the cohesion clients strike a much better understanding of their target consumer segments. One of the aspects that clients would like to know is the purchase habits of the consumers. This helps in making proper plans as well as in proper delivery to these particular segments.

The CEO of Lift & Co Matei Olaru has been closely watching cannabis companies that have been successful in establishing legacy brands. He has seen how they have been going about the whole act of introducing new products into the market. One thing that is quite clear to him is that they have been failing massively when it gets to the leveraging of outstanding CPG-like approaches.

The state of affairs

According to the official, actionable consumer insights are important for business growth and expansion. He has termed the Cohesion Segmentation an outstanding strategy for the modern business. He adds that any progressive businesses in the cannabis segment need to take it up to reach consumers effectively.

The targeted digital advertising capabilities are taking over the business world by storm, according to analysts. It was back in 2019 that the company announced the unveiling of its Cohesion platform. After just a short while, major changes are being witnessed already. Quite a significant number of licensed producers are resorting to it on a countrywide scale to enjoy the associated benefits.

Lift & Co has also announced its plan to expand more into the United States. It has termed the business collaboration with Enlighten a major step forward towards attaining success. The partnership is going to help Lift succeed in its efforts in the development of leading cannabis products.

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Zelira Therapeutics (OTCMKTS:ZLDAF) Intends To Expand HOPE® Distribution In The US

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Zelira Therapeutics (OTCMKTS:ZLDAF) has disclosed details about its plant to move its HOPE® Franchise to Louisiana. The company hopes to generate instant revenues through licensing arrangements. It will be asking for an up-front fee, after which it will expect to be paid some ongoing royalties.

A close outlook

The business guru has said that it is not going to speak out about the commercial terms of the deal. It intends to keep the terms of the deal confidential.

It was in May 2019 that the company unveiled its Franchise in Pennsylvania, and this deal was with Ilera Healthcare. This agency is known to hold a state license.

HOPE® has been showcasing outstanding performance since its introduction to the market. It has been fetching high revenues all along. This makes it stand out in a great way as the best selling formulated medicinal cannabis product in the state of Pennsylvania.

The current state of affairs

Zelira Therapeutics Ltd is a product of the merger between Ilera Therapeutics LLC and Zelda Therapeutics Limited. Zelda Therapeutics is a biopharmaceutical company based in Australia, whereas Ilera Therapeutics is a cannabinoid and medicinal cannabis company in Pennsylvania.

Reports indicate that these two companies will benefit from having direct access to the US, which is undoubtedly the biggest medicinal cannabis market globally.

The other thing about the US is the fact that it has over four million registered patients, and this spells out the presence of a huge market for products. This is not the only market these companies have access to. There are other markets in the United Kingdom, Germany, and Australia.

Analysts have applauded this merger, outlining that it is all about fostering a long-term supply and distribution relationship. A lot of people are now resorting to cannabis products for their general wellness needs, and there is a need to ensure they access enough of the pharmaceutical-grade medicinal cannabis. Companies are competing to develop wide-ranging products to supply large populations, and this is resulting in the development of top quality products.

Zelira says it has plans underway to unveil its global strategy in Louisiana. If all moves according to plan, it will have accomplished this by its first-quarter of 2020.

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