In the marijuana space this week, investors in one of the big Canadian cannabis producers found out just how well the company has been performing for the past year.

In the US market, a multi-state operator (MSO) announced its entry into the New York market.


Keep reading to find out more cannabis highlights from the past five days.

US Election 2020 and Cannabis

 
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Aurora reports C$3.3 billion loss in fiscal year

Aurora Cannabis (NYSE:ACB,TSX:ACB) has released the results from its fourth fiscal quarter for the market to evaluate. Miguel Martin, the new CEO of the company, told investors his goal is to reposition Aurora’s products and get back to a leading position in the Canadian market.

“Through successful execution, I believe what we build in Canada will be very portable to other larger global cannabinoid markets,” Martin said.

In terms of operations, the most notorious line from Aurora’s report was a net loss of C$3.3 billion for its 2020 fiscal year, which ended on June 30.

Meanwhile, the company reported total net revenue of C$72.1 million for the last quarter of its fiscal year, indicating a small decline from the previous reporting period.

The company is now expecting to produce cannabis net revenue of C$60 million to C$64 million for the first quarter of its 2021 fiscal year, a decrease from the C$67.5 million achieved in its fourth fiscal quarter of 2020. The Aurora team is still expecting to reach positive adjusted earnings before interest, taxes, depreciation and amortization in Q2 2021.

Curaleaf makes New York entrance with Select brand

Curaleaf Holdings (CSE:CURA,OTCQX:CURLF) launched its Select brand of products in the New York medical cannabis market. The first item launched was its Select Elite cannabis oil cartridges.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

As part of the product launch in the state, the company is also making two separate undisclosed financial donations to Women Grow and the Equity Organization. Curaleaf plans to let investors know sometime later this year about a full social equity plan.

This launch represents the 13th state in which the Select brand is available.

Cannabis company news

  • Canopy Growth (NYSE:CGC,TSX:WEED) and Acreage Holdings (CSE:ACRG.U) told investors that an amended arrangement between them went into effect this past week. “The amended arrangement provides Canopy the most efficient entryway into the US, once federally permissible, and we believe will continue to benefit shareholders of both companies over the long-term,” Canopy Growth CEO David Klein said.
  • The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) released its financial report for its 2020 fiscal year, which ended on June 30. “Fiscal 2020 was an important transitional year for Supreme Cannabis where we streamlined our operations, reorganized our team, and expanded our portfolio of brands and products that will drive sustainable revenue growth,” said Beena Goldenberg, president and CEO of Supreme Cannabis.
  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) confirmed it has expanded the portfolio of offerings from its Rionegro facilities in Colombia. These products include a wide range of CBD items.
  • Harvest Health & Recreation (CSE:HARV,OTCQX:HRVSF) opened a new store in Phoenix, Arizona. The company now has 15 stores in the state.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

  • Q3 Systemwide Pro Forma Revenue increased 18% quarter-over-quarter to $22.3 million , 170% year-over-year – Company became cash flow positive from operations in August
  • Company sale leaseback transaction with Innovative Industrial Properties scheduled to close within two weeks. As a result of close, together with proceeds from the recently closed bought deal financing, the Company will have $16 million of cash and $43 million in long-term debt
  • Company is in the process of acquiring acreage to construct up to 210,000 square feet of flowering canopy and supporting manufacturing facility in Cook County, Illinois to exponentially increase capacity in state
  • Initial guidance for 2021 with Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
  • The Company’s existing projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (” 4Front ” or the ” Company “) today announced its financial results for the third quarter of 2020. All financial information is presented in U.S. dollars unless otherwise indicated.

Third Quarter 2020 Financial Results Highlights

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  • Q3 Systemwide Pro Forma Revenue increased 18% quarter-over-quarter to $22.3 million , 170% year-over-year – Company became cash flow positive from operations in August
  • Company sale leaseback transaction with Innovative Industrial Properties scheduled to close within two weeks. As a result of close, together with proceeds from the recently closed bought deal financing, the Company will have $16 million of cash and $43 million in long-term debt
  • Company is in the process of acquiring acreage to construct up to 210,000 square feet of flowering canopy and supporting manufacturing facility in Cook County, Illinois to exponentially increase capacity in state
  • Initial guidance for 2021 with Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
  • The Company’s existing projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (” 4Front ” or the ” Company “) today announced its financial results for the third quarter of 2020. All financial information is presented in U.S. dollars unless otherwise indicated.

Third Quarter 2020 Financial Results Highlights

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Shareholders with losses exceeding $50,000 are encouraged to contact the firm

The Law Offices of Frank R. Cruz reminds investors of the upcoming December 1, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB ) securities between February 13, 2020 and September 4, 2020 , inclusive (the “Class Period”).

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Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce the launch of preclinical research studies using psilocybin and N-Acetylcysteine (“NAC”) for the treatment of mild traumatic brain injuryconcussion (“mTBI”) with post-traumatic stress disorder (“PTSD”). The study is in collaboration with a multidisciplinary team of scientists and physicians at the University of Miami Miller School of Medicine under the lead of Michael E. Hoffer, M.D., professor of otolaryngology and neurological surgery.

NAC has been shown to be safe and efficacious in a phase I human clinical study in treating military personnel who had suffered mTBI. The initial research focus is to demonstrate the safety and efficacy of the combination of psilocybin and NAC using broadly accepted rodent models. Final results are expected in 2021. Once this is established, more specific work can examine dose response, medicine uptake, and medicine levels. The research team at the Miller School of Medicine has conducted prior studies involving NAC with mTBI and has a license from the United States Drug Enforcement Administration to conduct research using Schedule I controlled substances, which includes psilocybin.

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Aphria Inc. (” Aphria “, ” we ” or the ” Company “) (TSX: APHA) (NASDAQ: APHA), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, announced it has closed the accretive, strategic acquisition (the ” Acquisition “) of  SW Brewing Company, LLC (” SweetWater Brewing Company ” or ” SweetWater “), one of the largest independent craft brewers in the United States (“U.S.”) based on volume. Beginning with the flagship 420 beverage offerings, SweetWater has created an award-winning lineup of year-round, seasonal and specialty beers, a portfolio of brands closely aligned with a cannabis lifestyle.

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