DENVER, Colo., April 15, 2019- (24/7MarketNews via COMTEX) Venture Market News for April 15, 2019.
- MedMen Releases Preliminary Third Quarter 2019 Systemwide Revenue Results – Designated News Release
MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) announced today unaudited systemwide revenue for its fiscal 2019 third quarter ended March 30, 2019. Across the Company’s operations in California, Nevada, New York, Arizona and Illinois, systemwide revenue was US$36.6 million (CA$48.8 million). This represents a 22% quarter-over-quarter increase over its fiscal 2019 second quarter ended December 29, 2018. Systemwide revenue, pro forma for pending acquisitions that have not yet closed, was US$54.9 million (CA$73.2 million) for the quarter. For the third quarter, gross margin across its retail operations was 51%1, compared to 53% in the previous quarter. The Company is expected to post its fiscal 2019 third quarter results in May 2019.
- Organigram Reports Second Quarter Fiscal 2019 Results; Record Net Revenue of $26.9 Million
– Record net revenue of $26.9 million or more than double the net revenue of Q1-2019
– Adjusted gross margin of $16.0 million or 60%1
– Adjusted EBITDA of $13.3 million or adjusted EBITDA margin of 49%1
– As planned, an amendment to our licence for Phase 4a and 4b of the Moncton facility was submitted to Health Canada in March for the security perimeter as well as the initial 13 grow rooms in Phase 4a
– The Phase 4 expansion is being completed in a series of stages which once fully licensed will bring our annualized production up to 113,000 kg by the end of 2019
– Phase 5 refurbishment underway for an edibles and derivative facility and additional in-house extraction capacity
– Signed a letter of intent with the Société québécoise du cannabis (SQDC); one of only three licensed producers in Canada to be in all ten provinces
– Subsequent to quarter-end, all remaining convertible debentures converted which has removed approximately $49.3 million in current liabilities from the balance sheet
MONCTON, NB, April 15, 2019 /CNW/ – Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce its results for the second quarter ended February 28, 2019 (“Q2” or “Q2 2019”). The Q2 2019 includes the first full quarter of adult-use recreational sales for the Company.
- Fission’s PFS shows Low OPEX of US$6.77/lbs U3O8, High IRR and Clear Growth
– Results highlight increased indicated resources, the robust economics and long-term potential for the Triple R deposit
OTCQX SYMBOL: FCUUF
KELOWNA, BC, April 15, 2019 /CNW/ – FISSION URANIUM CORP. (“Fission” or “the Company”) is pleased to announce the results of a Prefeasibility Study (the “PFS”), conducted by Roscoe Postle Associates Inc. (“RPA”) and first-time estimate of Mineral Reserves for its’ Patterson Lake South (“PLS”) property in Canada’s Athabasca Basin region. With an estimated OPEX of just US$6.77/lb U3O8 and an IRR (pre-tax) of 29%, the PFS further enhances the potential for highly-economic production at PLS. In addition, with the R780E zone still open at depth and along plunge to the east and the recently discovered high-grade mineralized zones along strike to the west and east (R1515W, R840W and R1620E zones) yet to be included in the reserve mine plan, there is clear upside for expanding the resource base and mine life and further improving the economics. The PFS is based on an open pit / underground hybrid operation and the Company is also progressing a PEA-level underground-only alternate scenario that indicates potential for improved economics.
- DionyMed Brands Inc. Announces C$10 Million Bought Deal Private Placement of Units Co-Led by Canaccord Genuity Corp. and Cormark Securities Inc. and Grants Option to Increase Deal Size to C$20 Million
TORONTO, April 15, 2019 /CNW/ – DionyMed Brands Inc. (“DionyMed” or the “Company”) (CSE: DYME; OTCQB: HMDEF), a multi-state cannabis brands, distribution and direct-to-consumer delivery platform, is pleased to announce that it has entered into an agreement with a syndicate of agents co-led by Canaccord Genuity Corp. and Cormark Securities Inc. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 3,636,364 units of the Company (the “Units”) at a price of C$2.75 per Unit (the “Issue Price”) for aggregate gross proceeds to DionyMed of C$10,000,001 (the “Offering”).
- Halo to Enter Hemp CBD Extraction Market
Halo Labs Inc. (“Halo” or the “Company”) (NEO:HALO, OTC:AGEEF, Germany:A9KN) is pleased to announce that it has entered into a binding Letter of Intent to secure a purpose built hemp processing facility in Southern Oregon (the “Transaction”) to expand the Company’s production capabilities into manufacturing CBD isolate and distillate. Production at the facility is expected to start in the 3rd quarter of 2019.
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