|Bid||2.4500 x 0|
|Ask||2.6900 x 0|
|Day's Range||2.4600 - 2.6100|
|52 Week Range||1.4900 - 15.1000|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Industry insiders say the math behind the current policy favours higher-potency drinks while restricting sales of mellower products.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) announced the closing of the transactions contemplated by the previously announced Reorganization Agreement, dated November 15, 2019, among Acreage, Compassionate Care Foundation, Inc. (“CCF”), a New Jersey vertically integrated medical cannabis nonprofit corporation, and certain affiliates thereof, pursuant to which Acreage CCF New Jersey, LLC acquired 100% of the operations of CCF, and, accordingly, Acreage will subsequently consolidate the results of operations of the New Jersey medical cannabis business into its consolidated financial statements. In accordance with the terms of the Reorganization Agreement, Acreage assumed all debts, liabilities and obligations of CCF, including fees, costs and expenses to be incurred by CCF in connection with the dissolution and wind-up of CCF and paid to the former trustees of CCF an aggregate total of $10,000,000 at closing.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today reported financial results for the first quarter of 2020. Pro forma revenue* was $37.6 million, a 65% increase compared to the same period in 2019, and a 17% increase compared to the fourth quarter of 2019. Recorded a one-time, non-cash pre-tax charge of $196.0 million, or $164.7 million after taxes, which was associated with Acreage's previously announced strategy to refocus its operations in certain states.
Canopy Growth and Acreage agree to amend plan of arrangement to provide potential additional upside for all shareholders Amended arrangement provides for up-front cash payment to Acreage shareholders and ...
Canopy Growth sees the addressable legal cannabis market expanding to nearly $70 billion globally by 2023, up from almost $10 billion today.
It is secured by, among other items, the Company’s cannabis operations in Illinois, New Jersey and Florida, as well as the Company’s U.S. intellectual property. The Company may pre-pay the note without penalty or premium at any time following the 90th day following the closing. Acreage expects to use the proceeds for working capital and general corporate purposes.
Canopy Growth’s chief executive officer expects the United States cannabis market to open up at the federal level as early as 2022 as pressure builds from state governments embracing recreational pot sales.
Despite recent troubles, Canopy Growth is optimistic its cannabis beverages can dwarf the growth of hard seltzers.
Shares of Canopy growth (CGC) are trading 30% lower since its latest quarterly results last week. However one analyst sees share as undervalued for the Canadian cannabis company which has shifted from medical to more recreational sales when that market was legalized in Canada almost two years ago. “Although we expect the medical market to shrink because of recreational legalization, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers,” analyst Kristoffer Inton wrote in a note to investors.
Completion of a private placement offering, in which it issued $11,000,000 in principal amount under a secured convertible debenture, with gross proceeds to the Company of $10,000,000 before transaction fees (the “Convertible Debentures”). For each Subordinate Voting Share purchased under the SEDA (the “Shares”), the Investor will pay the Company the greater of (i) 95% of the lowest daily volume weighted average price of the Subordinate Voting Shares on the Canadian Securities Exchange or other principal market on which the Subordinate Voting Shares are traded (the “Principal Market”) for the five consecutive trading days immediately following the date the Company or the Investor delivers notice requiring the Investor to purchase or the Company to sell the Shares under the SEDA; or (ii) the lowest price allowable under the rules of the Principal Market.
The Company expects this shift in focus will lead to immediate margin improvements and accelerate its pathway to achieve positive pro-forma adjusted EBITDA for the full year 2020. In addition to the sale of some non-core and other under-performing assets, Acreage intends to operate with a more optimized overhead cost structure and corporate team to adapt to an ever-changing cannabis landscape.
This filing gives the Company an additional 15 days to file its Form 10-K and still be deemed to have filed in a timely manner. It is the Company’s current expectation that it will make its Form 10-K filing within the 15-day grace period stipulated by Rule 12b-25. Until the Company has filed the Form 10-K, members of the Company’s management and other insiders are subject to an insider trading black-out period as per its internal Insider Trading and Reporting Policy that is consistent with the principles in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Acreage expects to file the Annual Filings by no later than May 14, 2020, and the Interim Filings by no later than June 29, 2020. In December 2019, COVID-19 was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world, including the United States. The Company’s operations are located in many states throughout the United States, including New York, one of the areas of the United States hardest-hit by the COVID-19 pandemic.
A webcast will be available and can be accessed via the Acreage’s Investor Relations website http://investors.acreageholdings.com. A playback of the call will be archived on Acreage’s website for approximately 30 days. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
Additionally, the merger agreement entered into with Deep Roots Medical, LLC, as described in the Company’s April 18, 2019 press release, was terminated due to the ongoing moratorium imposed by the Nevada Department of Taxation. Acreage also announced the resignation of Steve Hardardt, the Company’s Executive Vice President, Chief People Officer and Administration, effective immediately. With the COVID-19 pandemic resulting in a virtual shutdown of significant parts of the United States that is expected to continue for at least the next month and possibly longer, continued construction and regulatory delays in Illinois, California, Massachusetts, Michigan and elsewhere, and in anticipation of a significant economic downturn that will have a yet-to-be-measured impact on the U.S. cannabis industry, the Company re-evaluated its business plan and determined its most prudent path toward profitability.
“We thank Larissa for her tremendous service to Acreage and wish her every success in the future,” said Acreage Chair and CEO Kevin Murphy. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.
NEW YORK, March 17, 2020 -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated, multi-state operators of.
The medical cannabis dispensary is Acreage’s first retail location in the state. With the opening of the dispensary, located at 10520 Spring Hill Road, Acreage now owns or has management services, consulting or other agreements (including pending acquisitions) for 32 operational dispensaries in 13 states, including 14 The Botanist branded dispensaries. Developed by Acreage, The Botanist is both a retail and product brand, deeply rooted in health and wellness, and focused on the holistic power of cannabis to help individuals live balanced lifestyles.
Acreage Holdings, Inc. (“Acreage” or “Company”) (ACRG-U.CN) (ACRGF) (0VZ.F), one of the largest vertically integrated cannabis operators in the United States, announces today that it has filed a prospectus supplement (the "Supplement") to its short form base shelf prospectus dated August 8, 2019 (the "Base Shelf Prospectus") in connection with its previously-announced US$30 million private placement of special warrants (the “Special Warrants”). Copies of the Base Shelf Prospectus and the Supplement are available under the Company's profile on SEDAR at www.sedar.com. The Company has also filed the Supplement with the United States Securities and Exchange Commission and the Supplement is available under the Company’s profile on EDGAR at www.sec.gov.
NEW YORK, Feb. 26, 2020 -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated cannabis operators in the U.S.,.
Acreage and CCF are parties to a services agreement with CCF under which Acreage delivers its operational expertise, product development capabilities, and The Botanist retail dispensary brand. On November 15, 2019, Acreage and CCF entered into a reorganization agreement which will result in CCF becoming a wholly-owned, for-profit subsidiary of Acreage.
Needham Cannabis Multi-State Operator Summit – New York City, New York, March 10th: Acreage management will host investor meetings at The Needham Multi-State Operator Conference. ROTH Conference – Dana Point, California, March 17th: Acreage management will present at the 32nd annual ROTH Conference and host investor meetings. Hall of Flowers – Palm Springs, California, March 31st: Acreage management will attend investor meetings hosted by Cowen and Company prior to the Hall of Flowers event.
Nature’s Care Company began adult-use sales on Tuesday, February 18th, complementing Acreage’s adult-use wholesale operations, which began at the start of the year. In addition to its own developed house of brands, Acreage is also the exclusive supplier of Canopy Growth Corporation’s award-winning Tweed branded consumer products in the state of Illinois, which may be purchased at Nature’s Care Company’s Rolling Meadows dispensary and select adult-use dispensaries throughout the state. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
“I have greatly enjoyed working with CEO Kevin Murphy and the other members of the Board to help Acreage grow and work toward its mission of enabling access to legal cannabis for everyone who needs it, but I feel I owe it to my supporters and the country to focus on my Presidential candidacy at this time,” said Weld. “We thank Bill for his tremendous service to Acreage and wish him every success in the future,” said Acreage Chairman and CEO Kevin Murphy.