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Indiva Provides Guidance of Record Net Revenue for Fiscal Q4 2020

Indiva Continues to Lead the Edibles Market Nationally LONDON, Ontario, Jan. 13, 2021 (GLOBE NEWSWIRE) — Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce that it expects record net revenue in fiscal Q4 2020 in the range of $6.9 to […]

The post Indiva Provides Guidance of Record Net Revenue for Fiscal Q4 2020 appeared first on CannabisFN.

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Ryan Allway

January 13th, 2021


Indiva Continues to Lead the Edibles Market Nationally

LONDON, Ontario, Jan. 13, 2021 (GLOBE NEWSWIRE) — Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce that it expects record net revenue in fiscal Q4 2020 in the range of $6.9 to $7.2 million. This represents greater than 2,000% year-over-year and 128% sequential quarterly net revenue growth at the low end of the revenue guidance range, when compared with net revenue previously reported of $0.32 million and $3.03 million in fiscal Q4 2019 and fiscal Q3 2020 respectively.

The acceleration in net revenue in fiscal Q4 2020 was driven primarily by the growth in sales from Wana™ Sour Gummies. New SKUs and wider distribution increased unit sales of Wana gummies in the quarter to greater than 1.2 million units versus approximately 328,000 in Q3 2020, where Wana was also only in the market for the last month of Q3 2020. Distribution of Wana™ Sour Gummies expanded to six provinces and one territory in the fourth quarter. Additionally, Indiva signed a distribution agreement with Medical Cannabis by Shoppers™ in Q4 2020, which will soon see Bhang® Chocolate and Wana™ Sour Gummies listed on its online platform.

Indiva further increased its leading market share in the edibles category in the fourth quarter. As previously announced on January 7th, 2021, Indiva is the national leader in edibles, with market share exceeding 40% in the category for the month of December 2020, according to Hifyre data.

Adjusted gross margins in fiscal Q4 2020 are expected to be above fiscal Q3 2020 levels of 22%, due to improved efficiencies, higher fixed cost leverage and lower distillate costs, offset by a mix shift in the quarter to higher cannabinoid SKUs.

Outlook

Indiva expects continued year-over-year and sequential net revenue growth to continue in fiscal Q1 2021, based on continued market and category growth, strong consumer acceptance of Indiva products, and the expected introduction of new products and SKUs, including quick-onset gummies. The Company also expects significant gross margin improvement in Q1 2021, due to significantly lower distillate costs. The Company anticipates continued improvement in Adjusted Gross Margins.

“The sharp sequential improvement in quarterly revenue and continued gross margin expansion reflects the hard work and dedication of the Indiva team, as well as the strength of our partnerships and quality of our products,” said Niel Marotta, President and CEO of Indiva. “We are excited to bring further award-winning and innovative products to market in 2021. Of-age Canadians can rely on Indiva’s continued dedication to quality and innovation.”

Option Grant

The Company has granted 300,000 incentive stock options (the “Options”) to certain consultants and advisors. The Options have an exercise price of $0.40 per share and will be valid until January 12, 2024. The Company’s Stock Option Plan allows for issuances of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of the grant, the company has a total of 8,458,333 stock options issued, representing approximately 7.7% of the issued and outstanding share capital.

Indiva is also pleased to announce that it has entered into agreements with Simone Capital Ltd. (“Simone”), located in Ontario and principally owned and operated by Anthony Simone, and Lock Consulting Corp. (“Lock”), located in British Columbia and principally owned and operated by Neil Lock, to provide Indiva marketing services to advisors, brokers and institutional investors in North America. Under the terms of the agreements, Indiva will pay Simone a monthly retainer of approximately CAD$5,000 and it has been granted 100,000 options. The initial term of the agreement is three months, with an automatic extension for three additional three month terms. An additional 100,000 options have been issued to Lock (all options are included in the above total). The agreement expires on December 31, 2021. Each of Simone and Lock hold less than 1% of the Company’s issued and outstanding common shares. Other than the retainer payable under the agreements, the Company does not anticipate any costs related to the engagement of Simone and Lock.

Investor Presentation – Thursday, January 14 at 5pm EST (2pm PST):

Niel Marotta, President & CEO will be hosting an online presentation for shareholders, analysts, investors, media representatives and other stakeholders on Thursday, January 14 at 5pm EST (2pm PST). A recording of the presentation and supporting materials will be made available on Indiva’s investor section on www.indiva.com. To register, RSVP to Anthony Simone at [email protected] or 1-416-881-5154 or you can register online by using this URL: https://app.livestorm.co/lock-consulting-corp/indiva-investor-presentation.

COVID-19
Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.

ABOUT INDIVA

Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.

CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: [email protected]

DISCLAIMER AND READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company’s future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/indiva-provides-guidance-of-record-net-revenue-for-fiscal-q4-2020/

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CBD News: Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble

Hemp businesses walk a fine line when describing the health benefits of their products: Make a claim without evidence or wording that misleads consumers, and soon the legal fees will pile up.

Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble is a post from: Hemp Industry Daily: Financial, Legal & business news for hemp & CBD entrepreneurs

From Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble on CBD Products & CBD Business News – Hemp Industry Daily.

This was autoposted by IFTTT. To find out more, read my post about news articles.

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Hemp businesses walk a fine line when describing the health benefits of their products: Make a claim without evidence or wording that misleads consumers, and soon the legal fees will pile up.

Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble is a post from: Hemp Industry Daily: Financial, Legal & business news for hemp & CBD entrepreneurs

From Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble on CBD Products & CBD Business News – Hemp Industry Daily.

This was autoposted by IFTTT. To find out more, read my post about news articles.

Source: http://blog.hempcbd.business/2021/01/cbd-news-want-to-promote-hemps-health.html

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Recreational Marijuana Could Raise $43 Million In Tax Revenue For Delaware Each Year

The Delaware state auditor is making a strong case for cannabis legalization in the state.

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Recreational Marijuana Could Raise $43 Million In Tax Revenue For Delaware Each Year | High Times






























Source: https://hightimes.com/news/delaware/recreational-marijuana-could-raise-43-million-tax-revenue-delaware/

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Hollister Biosciences Inc. Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020

VANCOUVER, BC, Jan. 25, 2021 /PRNewswire/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona, is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22nd, […]

The post Hollister Biosciences Inc. Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020 appeared first on CannabisFN.

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Ryan Allway

January 26th, 2021

News, Top News


VANCOUVER, BCJan. 25, 2021 /PRNewswire/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona, is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22nd, 2021, several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales.

The company’s wholly owned subsidiary, Venom Extracts (“Venom“) product suite is a category leader with over 4 million grams sold in 2020, accounting for up to 30 percent of category sales state-wide. Venom is positioned for continued growth in Arizona, it has a strong brand recognition and distribution network, its products are available at leading retailers including Harvest Health and Recreation (CSE: HARV,OTCQX: HRVSF), Curaleaf (CSE: CURA,OTCQX: CURLF), Bloom, MuV and Oasis Cannabis dispensaries among others.

Arizona voted to legalize adult use cannabis in November, “Marijuana Business Daily projects that the state’s recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024″.

“Medical-marijuana dispensaries that got approved to sell recreational marijuana on Friday include 13 of the 15 Harvest shops in the state, all eight Curaleaf shops, The Mint locations in Guadalupe and Mesa, three Territory Dispensary locations, and dozens of others in places across the state, including in TucsonYumaFlagstaffCottonwood and Sedona. Arizona Department of Health Services spokesman Steve Elliott said Friday that the department had approved 86 applications. Some dispensaries in the state are still waiting to file their applications because they are not yet prepared to offer recreational sales, which are expected to bring substantially more traffic to their stores”. As reported by AZ Central on January 22nd, 2021.

In 2020, sales of medical cannabis in Arizona grew by greater than 27%, as such Venom has been a catalyst for revenue growth of the Company. On March 26th, 2020 (see press release dated March 30th, 2020), Hollister Biosciences acquired Venom Extracts and since the closing, in the three quarters following, Venom contributed approximately CDN$38 million to the company’s 2020 revenue.  In the entire year of 2020, Venom Extracts generated greater than CDN$ 40 million in revenue (and CDN$4.8 million in adjusted EBITDA), up from CDN$16.4 million in 2019 a 144% year over year increase, and ending the year with a record month of sales for December totaling approximately CDN$5.5 million. These unaudited numbers represent record sales for the company, and the expectation is that sales growth will continue in 2021.

In addition to continued revenue growth, the company plans to focus on core growth area’s including; enhancing; unit margins, market penetration, loyalty and same-store sales.

Some additional highlights of the company include:

  • Branded Products now on sale in over 370 cannabis dispensaries in Arizona and California
  • 4 owned brands, and 3 brand collaborations
  • Over 4 million grams sold
  • Over 96,000 lbs. of cannabis biomass converted into finished products in Arizona
  • Total sales for 2020 increased 3233% from 2019 and are estimated to be approximately CDN $40 million
  • December 2020 sales totaled greater than CDN$6 million

The Company looks forward to continuing execution of its business plan and growth targets in 2021, primarily focused on the exponential growth anticipated in Arizona and continued market penetration of branded products throughout California.

About Hollister Biosciences Inc.

Hollister Biosciences Inc. is a multi-state company with a portfolio of innovative, high-quality cannabis & hemp branded consumer products and white-labeling manufacturing.  Our products are sold in 370 dispensaries across Arizona and California. As of March 26th, 2020 (see press release dated March 30th, 2020), Hollister Biosciences acquired 100% of Venom Extracts, a category leading brand which sold over 4 million grams of product in 2020, accounting for up to 30 percent of category sales in Arizona.

Website:www.hollistercannabisco.com

The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

This press release includes reference “EBITDA” and “adjusted EBITDA”, which are non-International Financial Reporting Standards (“IFRS”) financial measures. Non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. The Company defines EBITDA as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted by removing other non-recurring or non-cash items, including the unrealized change in fair value and realized fair value adjustments on inventory sold in the period, share-based compensation expenses, depreciation of right-of-use assets, revaluation adjustments of financial assets and liabilities measured on a fair value basis and non-recurring transaction costs included in operating expenses. EBITDA and Adjusted EBITDA have no direct comparable IFRS financial measures. The Company has used or included these non-IFRS measures solely to provide investors with added insight into the Company’s financial performance. Readers are cautioned that such non-IFRS measure may not be appropriate for any other purpose. Non-IFRS measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

SOURCE Hollister Biosciences Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/hollister-biosciences-inc-commends-the-state-of-arizona-for-starting-adult-use-cannabis-sales-ahead-of-schedule-venom-extracts-its-100-owned-subsidiary-is-a-category-leader-with-over-4-million-gra/

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