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Indiva Limited (NDVAF)

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0.3628+0.0297 (+8.93%)
At close: 3:59PM EST
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Previous Close0.3331
Open0.3561
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.3500 - 0.3871
52 Week Range0.1260 - 0.3871
Volume254,000
Avg. Volume54,776
Market Cap40.101M
Beta (5Y Monthly)2.00
PE Ratio (TTM)N/A
EPS (TTM)-0.0930
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Indiva Provides Guidance of Record Net Revenue for Fiscal Q4 2020
    GlobeNewswire

    Indiva Provides Guidance of Record Net Revenue for Fiscal Q4 2020

    Indiva Continues to Lead the Edibles Market NationallyLONDON, 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.OutlookIndiva 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 ir@indiva.com 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 INDIVAIndiva 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: ir@indiva.comDISCLAIMER AND READER ADVISORYNeither 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.

  • Indiva Reports Record Market Share for December 2020
    GlobeNewswire

    Indiva Reports Record Market Share for December 2020

    LONDON, Ontario, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce record market share for the month of December.   Demand for Indiva’s edible products continues to rise as demonstrated by strong sell through data from Hifyre, and from the OCS, for the month of December. Estimated market share across British Columbia, Alberta, Saskatchewan and Ontario expanded from 36% in November to 42% share of sales in December, as Indiva further increased its lead in the 1 market share position in the edibles category: * Ontario 1 with 49% market share. Note: OCS data put Indiva market share in the Edibles category at 42.81% for December. * Alberta 1 with 41% market share. * British Columbia 1 with 44% market share. * Saskatchewan 1 with 29% market share. * Wana™ Sour Gummies led the Gummies category with $2.57 million in retail sales, or 27% market share overall in edibles, a sequential monthly increase of 6%. * Bhang® continued to top the chocolate category. * Product ranking in December again showed the top three SKUs continue to be Wana™ Sour Gummies (led by Strawberry-Lemonade 1:1). * Six of the top 12 edible SKUs are from Indiva.“We are delighted that customers and clients continue to support Indiva’s core edible brands in market, as evidenced by market share gains at the retail level. The improvement in market share is particularly encouraging given the backdrop of new entrants into the category. Edibles are one of the fastest growing categories in the cannabis market, and Indiva is committed to continuing to leverage the experience and innovation of our licensing partners to bring new edible products to market to support further growth,” said Niel Marotta, President and Chief Executive Officer of Indiva.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 INDIVAIndiva 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: ir@indiva.comDISCLAIMER AND READER ADVISORYNeither 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 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. 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.

  • Indiva Grants Incentive Stock Options and Announces Interest Payment on Debentures
    GlobeNewswire

    Indiva Grants Incentive Stock Options and Announces Interest Payment on Debentures

    LONDON, Ontario, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce that the Company has granted 630,000 incentive stock options (the “Options”) to certain employees and an executive officer. The Options have an exercise price of $0.30 per share and will be valid until December 30, 2025. 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 8,158,333 stock options issued, representing approximately 7% of the issued and outstanding share capital. The Company is also pleased to announce it has entered into shares for debt agreements, to satisfy an aggregate of $45,750 ("Debt") in relation to accrued but unpaid portions of the interest payments outstanding ("Interest") under certain convertible debentures of the Company issued in Q4 2019 and Q1 2020 (the "Debentures"). The Debt will be satisfied by the issuance of common shares ("Shares") of the Company. The creditors include certain related parties of the Company, including John A Marotta, a director of the Company, Andre LaFleche, a director of the Company, Niel Marotta, the CEO and a director of the Company and Jennifer Welsh, the CFO of the Company (collectively, the "Related Parties"). Every other creditor is an arm's length party who subscribed for convertible debentures of the Company.An aggregate of 183,000 Shares at a deemed price of $0.25 per Share are proposed to be issued to the creditors which includes an aggregate of 152,000 Shares to be issued to the Related Parties. An aggregate of 100,000 Shares are proposed to be issued to John A Marotta, a director of the Company, representing the extinguishment of $25,000 in Interest amounts owing. An aggregate of 40,000 Shares are proposed to be issued to Andre Lafleche, a director of the Company, representing the extinguishment of $10,000 in Interest amounts owing. An aggregate of 10,000 Shares are proposed to be issued to the Company's CEO, Niel Marotta representing the extinguishment of $2,500 in Interest amounts owing. An aggregate of 2,000 Shares are proposed to be issued to the Company's CFO, Jennifer Welsh representing the extinguishment of $500 in Interest amounts owing.The Company offered all Debenture holders the opportunity to elect to receive common shares of the Company in lieu of a cash payment for the Interest in order to preserve its cash for development of its business. The Shares will be issued upon acceptance by the TSX Venture Exchange. The Shares issued pursuant to the shares for debt agreements will be subject to a four month plus one day hold period pursuant to the policies of the TSX Venture Exchange.The shares for debt transaction involving the Related Parties will constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). However, the issuance is exempt from: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the shares into which the Units are convertible are not listed on a market specified in MI 61-101, and (ii) from the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61-101, as the fair market value of the Shares does not exceed 25% of the Company’s market capitalization. The participation by the Related Parties in the shares for debt transactions has been approved by directors of the Company who are independent in connection with such transaction.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 INDIVAIndiva 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.INVESTOR CONTACT Anthony Simone Phone: 416-881-5154 Email: ir@indiva.comDISCLAIMER AND READER ADVISORYNeither 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 approval of the TSX Venture Exchange of the transactions contemplated herein. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the Company satisfying the conditions for TSX Venture Exchange approval of the transactions herein. Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. None of the Securities have been or will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful.