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Christina Lake Cannabis: Shares up on Third-Quarter 495% Gross Revenue Growth QoQ

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Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) disclosed Monday its financial and operational results for fiscal Q3 2021, reporting its highest sales quarter since inception. The cannabis company, based in Vancouver, British Columbia, reported gross revenue of CA$1.29 million ($1.04 million), up by 495% from CA$216,738 in the prior quarter.

Fiscal Q3 Financial Highlights

Net income for the period amounted to CA$3.78 million, or CA$0.03 per share compared to net income of CA$877,763, or CA$0.01 per share in the same period of 2020;
General and administrative expenses 10.4% to CA$1.67 million, compared to $1.86 million in Q2 2021;
The gross margin percentage was 59% before fair value adjustment, while in the comparative period, the company was …

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Listen: a Deeper Look at Cannabis Aquaculture With Living Things’ Founder Alex Noland

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This article was originally published on Confident Cannabis and appears here with permission.

Living Things is Oregon’s original aquaculture cannabis farm. What makes their farm so special? To start, they use living fertilizer from fish and beneficial bugs to grow their cannabis. That means no liquid fertilizers or pesticides touch their plants. This family-owned farm has been in the industry for over 13 years.

Confident Cannabis Sales Manager, Hannah Hayes, had the opportunity to chat with Alex Noland, founder of Living Things on the latest episode of “High on Our Own Supply” by Confident Cannabis, to share the story of how his unique cannabis business came to be and what the …

Full story available on Benzinga.com

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Michigan’s White Boy Rick Launches Cannabis Brand “The 8th” Named for Amendment Banning Cruel and Unusual Punishment

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On Thursday, Rick Wershe Jr. aka “White Boy Rick” announced the release of his cannabis brand, “The 8th,” in partnership with Pleasantrees Cannabis Company, a vertically-integrated, multi-state cannabis company.

The name refers to the 8th Amendment of the U.S. Constitution prohibiting “cruel and unusual punishment,” something Rick was subjected to when he spent 33 years in prison for cocaine possession after being used by the FBI as an informant since he was 14. 

Initial brand offerings will be exclusively available for in-store purchase at Pleasantrees’ retail locations with select third-party retail locations to follow. At launch, the brand will feature pure and premium flower and branded clothing.

Social Justice …

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22nd Century Group Reports Revenue Gains in Q3, Seeks to Monetize Its Hemp & Cannabis Plant Lines

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Plant-based biotech company 22nd Century Group, Inc. (NASDAQ: XXII) reported its results on Thursday for the third quarter ended September 30, revealing net sales of $7.8 million for the period, up 6.9% from the prior year’s period.

Moreover, its year-to-date net sales totaled $23 million, up 11% from the corresponding period of last year.

The Buffalo, New York-based company, involved in cannabis and hemp research, as well as tobacco harm reduction, reduced nicotine tobacco and improving health and wellness via plant science, also disclosed that it is in the process of applying for a USDA Organic Certification for its hemp farm, Needle Rock Farms.

James A. Mish, CEO of 22nd Century Group, said he is proud to “begin to monetize our highly disruptive hemp/cannabis plant lines and IP.”

Q3 2021 Financial Highlights

Gross profit for the third quarter of 2021 improved by $87 thousand, or 24% to $449 …

Full story available on Benzinga.com

Original Source: benzinga.com

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