A couple of weeks ago iAnthus said its shareholders approved of a recapitalization plan that effectively dropped the shareholder’s ownership to less than 3% of the company. One group fought back and as a result, the judge in the case did not approve the form of release of claims presented to the Court. As a result, iAnthus must now pursue the Recapitalization Transaction under the Companies’ Creditors Arrangement Act which is basically a bankruptcy court in Canada.
Jushi Holdings Inc. (OTCQB: JUSHF) announces rising revenue after releasing preliminary financial results. The company is estimating revenue of $24 million for its third quarter ending September 30, 2020, a change from its previous guidance of $22-$25 million and a sequential increase of 61%. The guidance for revenue in the fourth-quarter ending December 31 is now expected to be at the high end of the previously announced range of $25-30 million and Jushi said it expects to report positive adjusted EBITDA. The total fiscal year 2021 revenue has been revised from $200-250 million to $205-255 million and the adjusted EBITDA is expected to be between $40-50 million.
The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) has entered into an agreement with Canaccord Genuity Corp. to purchase, on a bought deal basis an aggregate of 46,316,000 units at a price of $0.24 per Unit for aggregate gross proceeds to the Company of approximately C$11 million.
SLANG Worldwide Inc. (OTCQB: SLGWF) is buying Colorado-licensed cannabis cultivator Pleasant Valley Ranch, LLC as the company makes another move to own its supply chain.
Aurora Cannabis stock dropped this week after it was announced that activist investor Nelson Peltz had resigned as a senior advisor.
MedPharm Holdings said it would not be extending their term sheet, which expired yesterday, for acquisition with Schwazze, Inc. (SHWZ), formerly operating as Medicine Man Technologies. This is the second company in two months to walk away from Schwazze as Medicine Man Denver also chose to part ways in August.
Canadian mushroom company Optimi Health Corp. closed an oversubscribed non-brokered private placement of $4.4million.
C21 Investments Inc. (OTCQX: CXXIF) has qualified to trade on the OTCQX Best Market.
Acquired Sales Corp. (OTCQB: AQSP) is approved for trading on the OTCQB Venture Market