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Volume today which is always welcome. Here is an investor presentation which is very well done.
https://static1.squarespace.com/static/5b20020a9772aec8df227c49/t/5c7f3b69e79c70c65fe2d82f/1551842171002/03052019+SugarBud+Presentation.pdf
The initial time line they had was
Producer licence Feb 15
Sales licence July 1st- ish
RLLRF listed on otc is in $USD
SUGR listed on venture exchange is in $CDN. Same company offered on 2 different exchanges...currency difference.
Good call. I did as well. Expecting sales license July 1st-ish.
Yeah I guess it depends on what exchange you want to buy it on...the CDN exchange is more liquid than the otc RLLRF. Thanks for putting up the otc ticker symbol. Haven’t followed this one for awhile. Should be good to go come summer.
Yes that is correct.
One is Sugarcreek otc
The other is sugarbud on the Canadian exchange. 2 different companies. Hope that helps.
Sugr is on the CDN venture exchange. Try putting SUGR.V
The old ticker is RRL relentless resources.
I don’t see any magnets or red arrows on this chart...what gives
My understanding is you can’t own a second license name in Fl.
Appears so, volume very telling.
Volume coming in. 11.1 mil buys vs 780k sells so far. Something cooking?
Me thinks so $RETC$
Now what is going to show us now what...NW was spot on with the gap fill. Set up for a nice bounce.
Guess the gaps filled now.
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, Jan. 28, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to provide an update regarding the completion of its 29,800 square foot (“Phase 1”) vertical cannabis cultivation facility at Stavely, Alberta (the “Facility”) and its retail strategy.
Status of the Facility
SugarBud has completed the construction of the Facility’s exterior and inner walls, including the installation of key electrical, plumbing and mechanical equipment (the “Base Building”), and occupancy of the Facility is expected in February, 2019.
The Base Building was completed at a cost of approximately $7.8 million, representing $0.5 million more than the budgeted amount. The additional expenditures were primarily attributable to design changes to allow for future expansion capability, including Phase 2 of the Facility. See Figures 1, 2, 3 and 4 for pictures of the Facility.
Figure 1 – http://www.globenewswire.com/NewsRoom/AttachmentNg/0273a1b0-d335-49ad-bf64-c8bc5bc20060
Figure 2 – http://www.globenewswire.com/NewsRoom/AttachmentNg/09ace4fc-f554-48d3-a5d9-15f02bc6cd7f
Figure 3 – http://www.globenewswire.com/NewsRoom/AttachmentNg/169f5f2d-0600-4ffe-b8e7-323db32f74d9
Figure 4 – http://www.globenewswire.com/NewsRoom/AttachmentNg/a4e8d089-c367-4c4d-b04c-d4f9965756c3
The Company anticipates that it will receive a cultivation license from Health Canada by the end of Q1, 2019. Upon the receipt of a cultivation license, SugarBud will commence cultivation in its first two partially equipped grow rooms. The Company will then begin to equip the remaining six flowering rooms, capital permitting, until the entire Facility is in full production. SugarBud plans to have Phase 1 in full production by the end of 2019.
Phase 1 of the Facility is comprised of 29,800 total square feet of floorplate, including eight ~2,150 square foot cannabis flowering rooms totaling ~17,500 square feet of floorplate. The ceilings of the flowering rooms are 28’ tall, allowing for up to four layers of flowering canopy in each grow room.
SugarBud estimates that under a full development scenario with four layers of flowering canopy, Phase 1 of the Facility will have up to 37,000 square feet of flowering canopy. At a metric of 50 grams per square foot of flowering canopy per crop, and five crops per year, this equates to up to an estimated 9,500,000 grams of dried cannabis flower production per year.
SugarBud’s vertical grow method with four layers of flowering canopy is anticipated to result in a 211% flowering canopy to flowering floor plate ratio. This high utilization of square footage maximizes revenue per square foot of floor plate and minimizes capital costs per square foot of flowering canopy. For reference, if SugarBud were to utilize a single layer of flowering canopy, it’s flowering canopy to flowering floor plate ratio would reduce to 53%.
Phase 2 of the Facility is estimated to be comprised of 12 additional flowering rooms totaling approximately 26,000 square feet of floorplate, up to 55,500 square feet of flowering canopy, and up to an estimated 14,000,000 grams of dried flower production per year (at the same 50 grams per square foot of flowering canopy per crop, and five crops per year). See below for a summary of these figures.
Phase (#) Layers of Flowering Canopy (#) Flowering Canopy (Square Feet) Estimated Annual Dried Cannabis Flower Production (Grams)
1 4 ~37,000 ~9,500,000
2 4 ~55,500 ~14,000,000
Total N/A ~92,500 ~23,500,000
Health Canada Attestation Video
SugarBud has engaged a professional film crew to shoot an attestation video for Health Canada (the “Video”) on February 7 and 8, 2019. The Video is one of the final steps to be taken prior to the receipt of the Company’s cultivation license from Health Canada. The Video will outline the readiness of the Facility for the cultivation of cannabis and the integrity of the Facility’s security protocols.
Timeline Summary
See below for a summary of the estimated timeline for the completion of Phase 1:
Base Building: Completed.
Health Canada Attestation Video: February 7 and 8, 2019.
Building Occupancy: February 28, 2019.
Flowering Rooms 1 and 2 (Partial): March 15, 2019.
Cultivation License: Expected Q1, 2019.
Flowering Rooms 3 – 8: December 31, 2019.
This timeline is subject to change and is based on current internal estimates.
Power and Water
The Company believes that it can access all of the required power for Phase 1 and Phase 2 of the Facility under favorable commercial terms. The Facility is currently operating on generated power with redundancy. SugarBud is performing a comprehensive power study regarding its long-term power needs for Phase 2, which are anticipated to be satisfied with natural gas co-generation, power provided by the grid, or a combination thereof. The objectives of the Company are to employ the most cost effective and reliable power strategy available.
SugarBud has water supply from the town of Stavely in quantities satisfactory for Phase 1 and Phase 2. All water used in growing operations will be processed through an industrial scale reverse osmosis system prior to being used, ensuring that there are no contaminants.
Retail Update
SugarBud’s initial retail strategy of identifying and high-grading potential retail locations is intact and the company is monitoring the AGLC moratorium implemented in December 2018.
SugarBud has identified numerous potential retail locations and intends to enter into non-binding leases conditional upon the ability to achieve applicable licensing for the distribution of cannabis. SugarBud is also evaluating potential joint ventures and acquisitions with respect to existing and potential locations.
Read more at https://stockhouse.com/news/press-releases/2019/01/28/sugarbud-completes-the-construction-of-its-state-of-the-art-vertical#xQDyry1XJwbMVAJr.99
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, Jan. 31, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce that it has entered into a strategic relationship with Phylos Bioscience Inc. (“Phylos”) for the characterization and analysis of SugarBud’s future cannabis strains (the “Genetic Library”). With the declaration afforded to SugarBud as a late-stage applicant under Health Canada’s Cannabis Regulations, the Company has line of sight to a Genetic Library of over 400 top-tier strains, including the latest “designer” hybrid strains and foundational landrace strains.
Craig Kolochuk, President and Chief Executive Officer of SugarBud, stated: “Phylos has extensive knowledge of the global cannabis market and the rapidly evolving needs of medical and recreational cannabis users. Phylos will analyze chemotype, phenotype, and genotype data sourced from SugarBud’s Genetic Library, which will provide insights that could include genetic profiles, potential yields, terpene levels, THC and CBD content, plant sizes, and vegetation and flowering times. This data will not only assist SugarBud in determining the optimal cannabis strains for production from an economic standpoint, it will also ensure that SugarBud’s customers are provided with a diverse product offering and certainty regarding the cannabis that they are consuming.”
About Phylos Bioscience Inc.
Phylos is the world’s leading provider of cannabis genomics. Using modern molecular genetics and computational biology, Phylos is driving the development and improvement of hemp and drug varieties for optimal performance across diverse agricultural environments. The Phylos world-class team supports research and development, breeding partnerships with global partners, and cultivation businesses worldwide with a comprehensive suite of genetic testing solutions.
About SugarBud
SugarBud is an Alberta-based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
For further information regarding this news release, please contact:
Craig Kolochuk
President & Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (403) 875-5665
E-mail: craigk@sugarbud.ca Jeff Swainson
Chief Financial Officer
SugarBud Craft Growers Corp.
Phone: (403) 796-3640
E-mail: jeffs@sugarbud.ca
Investor Relations Contact
Gary Perkins, President
Tekkfund Capital Corp.
Tel: (416) 882-0020
E-mail: garyperkins@rogers.com Phylos Bioscience Inc. Contact
Paige Hewlett, Vice President, Marketing
Phylos Bioscience Inc.
Phone: (503) 206-6599
E-mail: phewlett@phylosbioscience.com
Website: http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Telephone: 403-532-4466
Fax: 587-955-9668
Forward Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning the strategic relationship with Phylos, SugarBud’s Genetic Library and the characterization and analysis thereof. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company that include, but are not limited to, the timely receipt of all required regulatory and third-party approvals. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including receipt of cultivation and sales licenses from Health Canada, not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2017 and management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2018 for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Took 13’s could be my new lucky number $RETC$
Funny, was just looking at the same thing just now: 75m (B) 15m (S)
$$$
HEXO Corp to Raise $50 Million through Stock Sale
January 21, 2019 at 4:16 pm
Published by NCV Newswire
HEXO Corp. announces proposed public offering of common shares
GATINEAU, Quebec, Jan. 21, 2019 (GLOBE NEWSWIRE) — HEXO Corp. (“HEXO” or the “Company”) (TSX: HEXO) today announced that it will be filing a preliminary prospectus supplement (the “Preliminary Supplement”) to its amended and restated short form base shelf prospectus dated December 14, 2018 (the “Base Shelf Prospectus”) relating to a proposed marketed public offering of common shares of the Company for gross proceeds of approximately C$50 million (the “Offering”). The Offering will be priced in the context of the market with the price and total size of the Offering to be determined at the time of entering into an underwriting agreement for the Offering.
The Company will also grant the underwriters for the Offering an over-allotment option to purchase up to an additional 15% of the common shares to be sold pursuant to the Offering. The over-allotment option will be exercisable for a period of 30 days after closing.
The Company will use the net proceeds from the offering for general corporate purposes, including funding the Company’s global growth initiatives and research and development to further advance the Company’s innovation strategies.
The Offering is being made through a syndicate of underwriters led by CIBC Capital Markets and BMO Capital Markets. The Company’s common shares are traded on the Toronto Stock Exchange (“TSX”) in Canada and have been approved for listing and are expected to start trading on the NYSE American Exchange (“NYSE American”) in the United States on January 23, 2019, in each case under the ticker “HEXO”. Closing of the Offering will be subject to a number of customary conditions including, but not limited to, the listing of the common shares on the TSX and the NYSE American and any required approvals of each exchange.
The Preliminary Supplement will be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. The Preliminary Supplement will also be filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s registration statement on Form F-10 (the “Registration Statement”) under the U.S./Canada Multijurisdictional Disclosure System. The Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Offering. Copies of the Preliminary Supplement and the Base Shelf Prospectus will be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and a copy of the Registration Statement will be found on EDGAR at www.sec.gov. No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Copies of the Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement may also be obtained in Canada from CIBC Capital Markets, 22 Front Street West, Mailroom, Toronto, ON, M5J 2W5, by telephone at (416) 956-3636, by email at michelene.dougherty@cibc.ca or from BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2, by telephone at 905-791-3151 Ext. 4312 / 4322, or by email at torbramwarehouse@datagroup.ca and in the United States from CIBC Capital Markets, 425 Lexington Avenue, 5th floor, New York, NY, by telephone at (800) 282-0822, by email at useprospectus@cibc.com or from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800) 414-3627, or by email at bmoprospectus@bmo.com.
Can’t recall now when those shares unlock....end of January?
GATINEAU, Quebec, Dec. 21, 2018 (GLOBE NEWSWIRE) -- HEXO Corp (“HEXO” or the “Company”) (TSX:HEXO), a leading licensed cannabis company based in Canada, is pleased to announce that it has filed an application to list its common shares on the NYSE American. Listing of the shares on the NYSE American remains subject to the approval of the NYSE American and the satisfaction of all applicable listing and regulatory requirements. This is an important milestone in the Company’s growth and will broaden HEXO’s exposure to U.S. institutional and retail investors.
HEXO is an award-winning licensed cannabis company based in Quebec. The Company has the largest single legal cannabis supply contract in Canadian history as the preferred supplier to the Société québécoise du cannabis, the provincial Crown corporation in Quebec responsible for the trade of cannabis within the province, to supply up to 200,000 kg of cannabis over a five-year term worth over $1 billion. HEXO also has supply agreements in British Columbia and Ontario, a strategic investment in the private cannabis retailer, Fire & Flower and has garnered the attention of Molson Coors Canada and resulted in the creation of Truss, an exclusive partnership to develop non-alcoholic cannabis-infused beverages.
Earlier this year, the Company’s CEO committed to investors that it would seek a listing on an American stock exchange by the end of 2018. HEXO continues to build a solid reputation for diligent and timely execution on commitments, in support of its aggressive international expansion plan.
“This is a remarkable milestone for our Company,” said HEXO’s CEO and co-founder Sebastien St-Louis. “We committed to our shareholders that HEXO would seek a listing in the US by the end of 2018 and I am proud to say that we delivered. We have a proven track record for our ability to execute and we will maintain it through our focus on developing and distributing innovative consumer-packaged cannabis products.”
HEXO is keenly focused on driving value for its shareholders through the execution of its hub and spoke business strategy which sees it partner with Fortune 500 companies in various product categories, leveraging HEXO’s expertise and product knowledge with its partners’ established distribution capacity. The Company has an advanced ability to develop consistent advanced cannabis experiences for use in world-renowned brands such as beverages, food, cosmetics and more including an exclusive partnership with Molson Coors Canada to create Truss.
HEXO is also in the process of establishing a foothold in Greece to build a Eurozone processing, production, and distribution centre to unlock access to customers across Europe. The Company will leverage this approach in other international markets, including Latin America, as regulations permit.
Upon receipt of all required approvals and completion of the formal listing process, the Company will publicly announce its first trading date on the NYSE American. HEXO’s common shares will trade on the NYSE American under ticker symbol “HEXO”, the same symbol the Company's common shares currently, and will continue to, trade under on the Toronto Stock Exchange. HEXO’s common shares will also continue to trade on the OTC PINK under the ticker symbol “HYYDF” until completion of the NYSE American listing.
In connection with its application to list on the NYSE American, HEXO has filed an amended and restated short form base shelf prospectus, amending and restating the Company’s short form base shelf prospectus dated November 19, 2018, with the securities regulatory authorities in each of the provinces and territories of Canada, and a corresponding registration statement on Form F-10 with the U.S. Securities and Exchange Commission (“SEC”) in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. The prospectus and registration statement enable the Company to make offerings of up to C$800 million of common shares, warrants, subscription receipts and units or a combination thereof of the Company from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the prospectus and registration statement remain effective. The specific terms of any future offering will be established in a prospectus supplement to the prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities and the SEC.
A copy of the Company’s amended and restated shelf prospectus can be found on SEDAR at www.sedar.com, and a copy of its registration statement can be found on EDGAR at www.sec.gov.
Joined you, doubled my position.
Noticed a nice 10k buy eod @10.57 on the Canadian side.
CSE: TRUL
TORONTO, Dec. 13, 2018 /CNW/ - Further to its press release of November 8, 2018, Trulieve Cannabis Corp. (CSE: TRUL) ("Trulieve" or the "Company") announced today that it has completed the acquisition of all of the issued and outstanding shares of Life Essence, Inc. – a seed-to-sale cannabis company with multiple locations under development in the Commonwealth of Massachusetts.
HEXO Corp reports $6.7 million in gross revenue for the first quarter of new fiscal year:
://ow.ly/YiHp50jVQPb
Sales of $5.2 million for adult-use cannabis during the first two weeks of legalization in Canada
Creation of Truss, a partnership with Molson Coors Canada in support of the Company’s objective to partner with Fortune 500 companies in various product categories and leverage their distribution and brand platforms
Acquisition of a scalable facility in Belleville, Ontario to establish a centre of excellence for cannabis-based consumer packaged products
1 million sq. ft. facility on track to be operational by end of December 2018
First foothold in Europe: partnership in Greece to establish a Eurozone distribution centre
GATINEAU, Quebec, Dec. 13, 2018 (GLOBE NEWSWIRE) -- HEXO Corp. (TSX:HEXO) (the "Company") is reporting its financial results for the first quarter of the 2019 fiscal year. Gross revenue for the quarter reached $6.7 million, which includes $5.2 million in sales of adult-use cannabis in the first two weeks following legalization in Canada.
“HEXO hit tremendous milestones in the weeks following the legalization of adult-use cannabis,” said HEXO’s CEO and co-founder Sebastien St-Louis. “The Company continues to honour its commitment to executing on its plans, which has led to a significant portion of our first quarter’s $6.7 million in revenue generated in just two weeks and represents more than a 500% increase over last quarter.”
“HEXO’s first quarter financials highlight the remarkable pace of its adult-use cannabis sales and puts HEXO on-track to generate significant revenue this year”, added Mr. St-Louis. “Today, we are a world-class organization as our team continues to focus on our strategy which includes partnering with Fortune 500 companies in various product categories and leverage their distribution platforms.”
Other financial highlights include:
Approximately 1,110,000 total gram equivalents sold in the quarter versus 539,000 in total fiscal 2018
Gross revenue per gram of $5.45 in the adult-use market and $9.12 in the medical market
2% increase over last quarter in medical cannabis sales despite the new adult-use market
Filing of a shelf prospectus to make offering of up to $800 million valid for a 25-month period
Conclusion of the three-month Canada-wide Never Jaded tour featuring Wu Tang Clan, Our Lady Peace, Tristan Eaton and Matty Matheson
During the quarter ended October 31, 2018, the Company produced over 3,550 kg of dried cannabis. Certain production areas of the existing licensed facilities have been dedicated to the commissioning of the new 1,000,000 sq. ft. facility. This includes designated areas housing the mother plants to be relocated to the 1,000,000 sq. ft. facility, as well as a cutting area to supply the 1,000,000 sq. ft. facility with its first plants. The Company is ramping up towards its full production capacity, with efficiency gains and increased capacity achieved through the recently licensed 250,000 sq. ft. facility and the additional 1,000,000 sq. ft. facility, which will become operational at the end of the calendar year. The Company expects to achieve its run goal rate of 108,000 kg of annual dried flower production.
Additionally, the Company recently launched its new corporate website www.hexocorp.com. The corporate website houses information about HEXO’s career opportunities, management, corporate social responsibility program, investor relations and press releases, and links to HEXO’s brand websites.
The management discussion and analysis for the period and the accompanying financial statements and notes are available under the Company's profile on SEDAR at www.sedar.com and on its website at www.HEXO.com. All amounts are expressed in Canadian dollars.
First Quarter 2019 Financial Results
Summary of results for the three-month period ended October 31, 2018 and October 31, 2017 (in thousands of Canadian dollars, except share and per share amounts, and where otherwise noted)
Summary of results for the three-month period ended October 31, 2018 and October 31, 2017:
For the three months ended
Income statement snapshot October 31, 2018 October 31, 2017
Gross revenue $ 6,677 $ 1,102
Excise taxes $ (1,014 ) $ –
Net revenue $ 5,663 $ 1,102
Gross margin before fair value adjustments $ 2,832 $ 639
Gross margin $ 7,237 $ 2,463
Operating expenses $ 22,035 $ 2,844
(Loss)/income from operations $ (14,797 ) $ (381 )
Other income/(expenses) $ 1,994 $ (1,537 )
Net income (loss) $ (12,803 ) $ (1,918 )
Weighted average shares outstanding 194,033,380 76,480,085
Net income (loss) per share $ (0.07 ) $ (0.03 )
Q1 ’19 Q4 ’18 Q3 ’18 Q2 ’18 Q1 ’18
Revenue
Adult-use cannabis revenue1 $ 5,194 $ - $ - $ - $ -
Dried grams and gram equivalents sold 952,223 - - - -
Adult-use revenue/gram equivalent $ 5.45 $ - $ - $ - $ -
Medical cannabis revenue1 $ 1,436 $ 1,410 $ 1,240 $ 1,182 $ 1,102
Dried grams and gram equivalents sold 157,504 152,288 134,253 131,501 120,844
Medical revenue/gram equivalent $ 9.12 $ 9.26 $ 9.24 $ 8.99 $ 9.12
Ancillary revenue2 $ 47 $ - $ - $ - $ -
Total sales $ 6,677 $ 1,410 $ 1,240 $ 1,182 $ 1,102
1 Cannabis revenue represents adult-use and medical market sales under the normal course of business and is exclusive of excise taxes.
2 Revenue outside of the primary operations of the Company.
Total revenue in the first quarter of fiscal 2019 increased to $6,677 from $1,102 in the compared period of fiscal 2018. The main contributor is the introduction of adult-use sales in the final two weeks of the quarter which accounted for 78% of total revenue. New in the period is $47 of ancillary non-direct cannabis sales revenue related to a management agreement.
ADULT-USE SALES
The Company realized its first adult-use revenues during the first quarter of fiscal 2019. Adult-use sales totaled $5,194 in this period which is a 371% increase over the $1,102 of medical sales in the first quarter of 2018, and a 5% increase over the $4,934 of total medical sales in all of fiscal 2018. This is a direct result of the Company’s introductory brand awareness campaign.
Sales volume in the first quarter of 2019 was 952,223 gram equivalents sold. Dried flower represented 81% of gram equivalents sold during the period.
Adult-use revenue per gram equivalent was $5.45. This is reflective of 81% of these sales pertaining to dried flower which command a competitive market sales price. The remaining balance primarily represents oil sales which command a higher revenue per gram equivalent.
During the period, 90% of all adult-use sales were realized in Quebec through the SQDC with the remaining 10% derived in Ontario and British Columbia via the OCS and BCLDB respectively.
MEDICAL SALES
Revenue for the first quarter ended October 31, 2018 increased 30% to $1,436 compared to $1,102 in the same period in fiscal 2018. Higher revenue was driven by increased sales volume as well higher Elixir oil sales which command a higher revenue per gram when compared to dried gram sales. Compared to the prior quarter, the sequential revenue increase was 2% reflecting a lower revenue per gram on the dried flower sales which decreased $0.22/gram due to the current period’s sales mix of products.
Sales volume increased 30% to 157,504 gram equivalents, compared to 120,844 in the same prior year period, due to an increase in our oil-based products as the product mix purchased by customers shifted towards smoke-free alternatives. Total dried grams sold increased 10% when compared to the same prior year period. Revenue per gram equivalent remained at $9.12 as compared the same prior year period. On a sequential basis, sales volume collectively increased 3% across both dried and oil sales.
Geographical sales in Ontario and Quebec increased 8% and 16% respectively.
Cost of Sales and Excise Taxes
Cost of goods sold includes the direct and indirect costs of materials and labour related to inventory sold, and includes harvesting, processing, packaging, shipping costs, depreciation and applicable overhead.
Fair value adjustment on sale of inventory includes the fair value of biological assets included in the value of inventory transferred to cost of sales.
Fair value of biological assets represents the increase or decrease in fair value of plants during the growing process less expected cost to complete and selling costs and includes certain management estimates.
For the three months ended
October 31, 2018 October 31, 2017
Excise taxes $ 1,014 $ –
Cost of sales 2,831 463
Fair value adjustment on sale of inventory 717 814
Fair value adjustment on biological assets (5,123 ) (2,639 )
Total fair value adjustment $ (4,406 ) $ (1,825 )
Cost of sales for the quarter ended October 31, 2018 were $2,831, compared to $463 for the same quarter ended in fiscal 2018. The increase in cost of sales is the result of increased sales volumes and increases to transformation costs as the oil and other value added product production mix has increased from the first quarter of fiscal 2018.
Fair value adjustment on the sale of inventory for the first quarter ended October 31, 2018 was $717 compared to $814 for the same quarter ended October 31, 2018. This variance is due to increased sales volume of inventory sold when compared to the same quarter in fiscal year 2018 and the reversal of the previously recognized net realizable impairment on dried inventory.
Fair value adjustment on biological assets for the quarter ended October 31, 2018 was ($5,123) compared to ($2,639) for the same quarter ended in fiscal 2018. This variance is due to the increase in the total number of plants as the first harvests and first full quarter of the B6 greenhouse being active. This results in significantly increased expected gram yields in the quarter and increased production costs of operating a newly in-use facility. The increase in scale and total plants on hand is the result of preparing for the adult-use market, which began October 17, 2018.
New in the period were excise taxes associated with the first adult-use and medical recognized revenues post legalization between October 17, 2018 and October 31, 2018. These taxes totaled $1,014 and reduced the total gross margin by approximately 13%. Excise taxes are a function of fixed provincial and territorial rates based upon the gram equivalents sold as well as a variable ad valorem component which is dependent upon the selling price of the products.
Operating Expenses
For the three months ended
October 31, 2018
October 31, 2017
General and administration $ 4,912 $ 1,168
Marketing and promotion 11,711 1,115
Stock-based compensation 4,689 314
Amortization of property, plant and equipment 573 124
Amortization of intangible assets 150 63
Research and development - 61
Total $ 22,035 $ 2,844
Operating expenses include marketing and promotion, general and administrative, research and development, stock-based compensation, and amortization expenses. Marketing and promotion expenses include customer acquisition costs, customer experience costs, salaries for marketing and promotion staff, general corporate communications expenses, and research and development costs. General and administrative expenses include salaries for administrative staff and executive salaries as well as general corporate expenditures including legal, insurance and professional fees.
GENERAL AND ADMINISTRATIVE
General and administrative expenses increased to $4,912 in the first quarter, compared to $1,168 for the same period in fiscal 2018. This increase reflects the general growing scale of our operations, including an increase in general, finance and administrative staffing and additional rental space. Total general and administrative payroll increased $2,063 due to the growth in operations. Total professional fees increased by $710, as a result of the increased financial reporting and control-based regulatory requirements accompanying public status on the TSX, additional legal fees pertaining to agreements such as the joint ventures established in the period, recruiting fees and increased compliance costs as a publicly listed company.
MARKETING AND PROMOTION
Marketing and promotion expenses significantly increased to $11,711 in the first quarter, compared to $1,115 for the same period in fiscal 2018. This reflects the launch of adult-use marketing and promotional events undertaken in the quarter as we build brand recognition and establish HEXO in the cannabis market. This is inclusive of higher staff and travel-related expenses, printing and promotional materials as well as advertisement costs.
AMORTIZATION OF PROPERTY, PLANT AND EQUIPMENT
Amortization of property, plant and equipment increased to $573 in the quarter, compared with $124 for the same period in fiscal 2018. The increase is the direct result of the Company’s newly built greenhouses and acquired cultivation equipment. Additionally, increases to cultivation and production equipment were incurred in order to support the larger production demands and scalability of the Company.
AMORTIZATION OF INTANGIBLE ASSETS
Amortization of intangible assets increased to $150 in the first quarter, compared with $63 for the same period in fiscal 2018. The increase is the result of the implementation of the first phase of a new ERP system, which will replace certain software programs we currently use and capitalized licenses and web based assets.
Loss from Operations
Income/(loss) from operations for the first quarter was ($14,797), compared to ($381) for the same period in fiscal 2018. The increased loss from operations is due mainly to higher expenses in line with the expanding scale of operations as we prepared for the legalization of the adult-use market and the realization of stock-based compensation expenses in line with the increased headcount and market share price value of the Company.
Other Income/Expenses
Other income/(expense) was $1,994 for the three months ended October 31, 2018 compared to ($1,537) in the same period of fiscal 2018. Revaluation of financial instruments of ($2,337) in the latest quarter reflects the revaluation of an embedded derivative related to USD denominated warrants issued in the prior year. Additionally, we had an unrealized fair value gain on convertible debenture receivable of $3,434. Interest income of $1,066 was realized for the three months ended October 31, 2018 reflective of the interest generated from the increased short-term investments held as at October 31, 2018.
Farm bill passes senate.
Adopted, 87-13: the conference report to accompany HR2, the farm bill.
— Floor Monitor (@senategopfloor) December 11, 2018
New interview with the President of $SUGR$
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Dec 6/18 Dec 6/18 Wilson, Daniel Thomas Indirect Ownership Common Shares 10 - Acquisition in the public market 433,333 $0.060
Dec 6/18 Dec 6/18 Wilson, Daniel Thomas Indirect Ownership Common Shares 10 - Acquisition in the public market 365,886 $0.060
Dec 6/18 Dec 6/18 Wilson, Daniel Thomas Indirect Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.060
Dec 6/18 Dec 6/18 Wilson, Daniel Thomas Indirect Ownership Common Shares 10 - Acquisition in the public market 100,780 $0.060
Read more at http://www.stockhouse.com/companies/bullboard/rllrf/relentless-resources-ltd?postid=29081211#4vZTJoQpiUWGvXkl.99
Entity Details
THIS IS NOT A STATEMENT OF GOOD STANDING
File Number: 7180326 Incorporation Date / Formation Date: 12/5/2018
(mm/dd/yyyy)
Entity Name: EDMONTON REALTY REIT USA, INC.
Entity Kind: Corporation Entity Type: General
Residency: Domestic State: DELAWARE
REGISTERED AGENT INFORMATION
Name: CORPORATION SERVICE COMPANY
Address: 251 LITTLE FALLS DRIVE
City: WILMINGTON County: New Castle
State: DE Postal Code: 19808
Phone: 302-636-5401
The REIT has been registered...
https://icis.corp.delaware.gov/ecorp/entitysearch/NameSearch.aspx
File number:7180326
1. Fully funded
2. Vertical farming-3x the capcity for similar sized footprints
3. Aeroponics-Super efficient
4. Currently generating revenue
5. Supply deal in place with Spirit Leaf
6. Strategic Investment by Spirit Leaf
7. Top quality craft bud. . Would also like to add that the building is finished and the guts are going in as we speak . Lets pop another 25 Million Equity Facility with Alumina . Last but not least Agriculture Canada would not put in millions if a lincence was not forth coming and as a bonus the company goes green from oil and oh yah thoses assets are being sold off so whatever money they get is going straight into the warchest with no extra dillution .