Aleafia Health (TSX:ALEF,OTCQX:ALEAF) issued its financial and operational results for the Q1 2019, which ended March 31.
As quoted in the press release:
“In 2018, Aleafia Health laid the groundwork for a breakthrough 2019, and we have now begun to see the results of this work. The closing of the transformative acquisition of Emblem has accelerated our global mission of growing, processing and selling high-margin value-added cannabis products by 12 to 18 months,” said Aleafia Health CEO Geoffrey Benic. “Our three production facilities will, when operational, truly leverage our global distribution platform, brands, and data-driven product expertise. Concurrently, we have achieved an improved capital markets profile, graduating to the Toronto Stock Exchange, while increasing our cash position despite making major investments in the buildout of our modern production facilities. I would like to thank our entire team, from the leadership of our Board, to clinic staff and physicians, production buildout crews, and management for the outstanding work and commitment shown to our shared cannabis health and wellness vision.”
Revenues & Expenses
Aleafia Health revenue was C$1.5 million, compared to C$0.1 million in Q1 2018, a 1,723 per cent year-over-year increase. The Company experience a net loss of C$20.2 million, or a $7 million net loss, excluding C$13.2 million in one-time, non-cash payments resulting from the closing of the Emblem acquisition. The Company has C$36.8 million cash on hand at March 31, 2019, compared to C$26.4 million at December 31, 2018. Current assets, including cash, totalled C$61 million at March 31, 2019, compared to C$29.2 million at December 31, 2018.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).