/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
Qumu Announces First Quarter 2019 Results, Reiterates Confidence in Annual Guidance
Reading Time: 7 minutes
Company reports record gross margins, growing revenues and second
consecutive quarter of positive adjusted EBITDA
Conference Call Wednesday, May 1, 2019 at 10:00 a.m. ET
MINNEAPOLIS–(BUSINESS WIRE)–Qumu Corporation (NASDAQ: QUMU) today reported financial results for the
first quarter ended March 31, 2019. The Company reported first quarter
revenue of $7.1 million, a net loss of $(950,000) and adjusted EBITDA, a
non-GAAP measure, of $210,000, ending the quarter with cash of $8.6
million.
“Qumu has delivered a strong start to 2019, building on momentum from
the second half of 2018. Given our growing revenue, strong sales
pipeline, solid balance sheet and positive adjusted EBITDA for three of
the last four quarters, we have a high degree of confidence in our 2019
annual financial guidance,” said Vern Hanzlik, Qumu’s President and CEO.
“Convergence of the Enterprise Video market with the Web and Video
Conferencing market traditionally dominated by firms like Zoom, Cisco,
Microsoft, and Google is happening as we speak—and Qumu is directly
benefiting from it.”
For the three months ended March 31, 2019, revenue was $7.1 million,
compared to $4.8 million last year, and net loss was $(950,000), or
$(0.10) per diluted share, compared to $(4.5) million, or $(0.48) per
diluted share, for the first quarter 2018. For the three months ended
March 31, 2019, adjusted EBITDA was $210,000, compared to adjusted
EBITDA of $(2.9) million for the first quarter 2018.
Other Financial Highlights
-
Operating loss decreased by $3.3 million in the three months ended
March 31, 2019, compared to corresponding 2018 period. -
Gross margin for the first quarter 2019 was 78.3%, compared to 56.3%
for first quarter 2018. -
Cash and cash equivalents totaled $8.6 million as of March 31, 2019,
compared to $8.6 million as of December 31, 2018. -
Software license and appliance revenue was $1.0 million and $451,000
for the three months ended March 31, 2019 and 2018, respectively. -
Subscription, maintenance and support revenue was $5.6 million and
$4.0 million for the three months ended March 31, 2019 and 2018,
respectively. -
Operating expenses decreased $503,000 during the three months ended
March 31, 2019, compared to the corresponding 2018 period, reflecting
the impact of the Company’s improved operating efficiencies.
Business Outlook
The Company is reiterating its financial guidance for 2019:
-
Annual contract value bookings growth is expected to be 20% to 25% in
2019 compared to 2018. -
Revenue for 2019 is expected to be approximately $27 million. Gross
margin percentage is expected to be in the high 60s to low 70s. -
Net loss for 2019 is expected to be approximately $(5.1) million.
Adjusted EBITDA for 2019 is expected to be approximately $(1.5)
million. Forecasted adjusted EBITDA for 2019 excludes forecasted
interest expense of approximately $1.0 million, income tax benefit of
approximately $(0.2) million, depreciation expense of
approximately $0.3 million, amortization of acquired intangible assets
of approximately $1.2 million, stock-based compensation of
approximately $0.9 million, and increase in warrant liability of
approximately $0.4 million.
Conference Call
The Company has scheduled a conference call and webcast to review its
first quarter 2019 results tomorrow, May 1, 2019 at 10:00 a.m. Eastern
Time. The dial-in number for the conference call is 877-456-6914 for
domestic participants and 929-387-3794 for international participants.
Investors can also access a webcast of the live conference call by
linking through the Investor Relations section of the Qumu website, https://qumu.com/en/investor-relations/.
Webcasts will be archived on Qumu’s website.
Non-GAAP Information
To supplement the Company’s condensed consolidated financial statements
presented on a GAAP basis, the Company uses adjusted EBITDA, a non-GAAP
measure, which excludes certain items from net income (loss), a GAAP
measure. Adjusted EBITDA excludes items related to interest income and
expense, the impact of income-based taxes, depreciation and
amortization, stock-based compensation, change in fair value of warrant
liabilities, foreign currency gains and losses, and other non-operating
income and expenses.
The Company uses both GAAP and non-GAAP measures when planning,
monitoring, and evaluating the Company’s performance. The Company
believes that adjusted EBITDA is useful to investors because it provides
supplemental information that allows investors to review the Company’s
results of operations from the same perspective as management and the
Company’s board of directors. Non-GAAP results are presented for
supplemental informational purposes only for understanding our operating
results. The non-GAAP results should not be considered a substitute for
financial information presented in accordance with generally accepted
accounting principles, and may be different from non-GAAP measures used
by other companies.
See the attached Supplemental Financial Information for a reconciliation
of net loss, a GAAP measure, to adjusted EBITDA, a non-GAAP measure, for
the three months ended March 31, 2019 and 2018.
Forward-Looking Statements
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Any statements contained in this press
release that are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, words such
as “may,” “will,” “expect,” “believe,” “anticipate,” or “estimate” or
comparable terminology are intended to identify forward-looking
statements. Such forward-looking statements include, for example,
statements about: the Company’s future revenue and operating
performance, cash balances, future product mix or the timing of
recognition of revenue and the demand for the Company’s products or
software. The statements made by the Company are based upon management’s
current expectations and are subject to certain risks and uncertainties
that could cause the actual results to differ materially from those
described in the forward-looking statements. These risks and
uncertainties include the risk factors described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2018 and other
factors set forth in the Company’s filings with the Securities and
Exchange Commission.
About Qumu
Qumu (Nasdaq: QUMU) is the leading provider of best-in-class tools to
create, manage, secure, distribute and measure the success of live and
on-demand video for the enterprise. Backed by the most trusted and
experienced team in the industry, the Qumu platform enables global
organizations to drive employee engagement, increase access to video,
and modernize the workplace by providing a more efficient and effective
way to share knowledge.
|
QUMU CORPORATION |
||||||||
|
Condensed Consolidated Statements of Operations |
||||||||
|
(unaudited – in thousands, except per share data) |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2019 | 2018 | |||||||
| Revenues: | ||||||||
| Software licenses and appliances | $ | 1,005 | $ | 451 | ||||
| Service | 6,093 | 4,380 | ||||||
| Total revenues | 7,098 | 4,831 | ||||||
| Cost of revenues: | ||||||||
| Software licenses and appliances | 311 | 335 | ||||||
| Service | 1,226 | 1,777 | ||||||
| Total cost of revenues | 1,537 | 2,112 | ||||||
| Gross profit | 5,561 | 2,719 | ||||||
| Operating expenses: | ||||||||
| Research and development | 1,674 | 1,903 | ||||||
| Sales and marketing | 2,352 | 2,180 | ||||||
| General and administrative | 1,746 | 2,181 | ||||||
| Amortization of purchased intangibles | 218 | 229 | ||||||
| Total operating expenses | 5,990 | 6,493 | ||||||
| Operating loss | (429 | ) | (3,774 | ) | ||||
| Other income (expense): | ||||||||
| Interest expense, net | (205 | ) | (844 | ) | ||||
| Decrease (increase) in value of warrant liability | (289 | ) | 387 | |||||
| Other, net | (31 | ) | (387 | ) | ||||
| Total other expense, net | (525 | ) | (844 | ) | ||||
| Loss before income taxes | (954 | ) | (4,618 | ) | ||||
| Income tax benefit | (4 | ) | (88 | ) | ||||
| Net loss | $ | (950 | ) | $ | (4,530 | ) | ||
| Net loss per share – basic and diluted: | ||||||||
| Net income loss per share | $ | (0.10 | ) | $ | (0.48 | ) | ||
| Weighted average shares outstanding | 9,688 | 9,370 | ||||||
|
QUMU CORPORATION |
||||||||
|
Condensed Consolidated Balance Sheets |
||||||||
|
(unaudited – in thousands) |
||||||||
| March 31, | December 31, | |||||||
| Assets | 2019 | 2018 | ||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 8,571 | $ | 8,636 | ||||
| Receivables, net | 4,380 | 6,278 | ||||||
| Contract assets | 1,661 | 485 | ||||||
| Income taxes receivable | 339 | 327 | ||||||
| Prepaid expenses and other current assets | 2,140 | 2,192 | ||||||
| Total current assets | 17,091 | 17,918 | ||||||
| Property and equipment, net | 680 | 545 | ||||||
| Right of use assets – operating leases | 1,128 | — | ||||||
| Intangible assets, net | 3,956 | 4,247 | ||||||
| Goodwill | 7,134 | 6,971 | ||||||
| Deferred income taxes, non-current | 53 | 55 | ||||||
| Other assets, non-current | 476 | 544 | ||||||
| Total assets | $ | 30,518 | $ | 30,280 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and other accrued liabilities | $ | 2,640 | $ | 2,838 | ||||
| Accrued compensation | 1,150 | 1,548 | ||||||
| Deferred revenue | 9,558 | 9,672 | ||||||
| Operating lease liabilities | 549 | — | ||||||
| Deferred rent | — | 45 | ||||||
| Term loan and other financing obligations | 3,690 | 152 | ||||||
| Warrant liability | 3,087 | 2,798 | ||||||
| Total current liabilities | 20,674 | 17,053 | ||||||
| Long-term liabilities: | ||||||||
| Deferred revenue, non-current | 1,425 | 1,672 | ||||||
| Income taxes payable, non-current | 568 | 563 | ||||||
| Deferred tax liability, non-current | — | 2 | ||||||
| Operating lease liabilities, non-current | 1,021 | — | ||||||
| Deferred rent, non-current | — | 302 | ||||||
| Term loan and other financing obligations, non-current | 146 | 3,488 | ||||||
| Other liabilities, non-current | — | 195 | ||||||
| Total long-term liabilities | 3,160 | 6,222 | ||||||
| Total liabilities | 23,834 | 23,275 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock | 98 | 96 | ||||||
| Additional paid-in capital | 69,266 | 69,072 | ||||||
| Accumulated deficit | (59,635 | ) | (58,875 | ) | ||||
| Accumulated other comprehensive loss | (3,045 | ) | (3,288 | ) | ||||
| Total stockholders’ equity | 6,684 | 7,005 | ||||||
| Total liabilities and stockholders’ equity | $ | 30,518 | $ | 30,280 | ||||
|
QUMU CORPORATION |
||||||||
|
Condensed Consolidated Statements of Cash Flows |
||||||||
|
(unaudited – in thousands) |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2019 | 2018 | |||||||
| Operating activities: | ||||||||
| Net loss | $ | (950 | ) | $ | (4,530 | ) | ||
|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
||||||||
| Depreciation and amortization | 408 | 699 | ||||||
| Stock-based compensation | 231 | 210 | ||||||
| Accretion of debt discount and issuance costs | 128 | 746 | ||||||
| Gain on lease modification | (21 | ) | — | |||||
| Decrease in value of warrant liability | 289 | (387 | ) | |||||
| Deferred income taxes | — | (37 | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Receivables | 1,914 | 1,645 | ||||||
| Contract assets | (1,176 | ) | 14 | |||||
| Income taxes receivable / payable | (3 | ) | (62 | ) | ||||
| Prepaid expenses and other assets | 125 | (317 | ) | |||||
| Accounts payable and other accrued liabilities | (75 | ) | (444 | ) | ||||
| Accrued compensation | (405 | ) | — | |||||
| Deferred revenue | (424 | ) | 603 | |||||
| Deferred rent | — | (75 | ) | |||||
| Other non-current liabilities | (24 | ) | 186 | |||||
| Net cash provided by (used in) operating activities | 17 | (1,749 | ) | |||||
| Investing activities: | ||||||||
| Purchases of property and equipment | (14 | ) | (2 | ) | ||||
| Net cash used in investing activities | (14 | ) | (2 | ) | ||||
| Financing activities: | ||||||||
| Proceeds from term loan and warrant issuance | — | 10,000 | ||||||
| Principal payments on term loans | — | (8,000 | ) | |||||
| Payments for term loan issuance costs | — | (1,308 | ) | |||||
| Principal payments on financing obligations | (80 | ) | (99 | ) | ||||
| Common stock repurchases to settle employee withholding liability | (36 | ) | (19 | ) | ||||
| Net cash provided by (used in) financing activities | (116 | ) | 574 | |||||
| Effect of exchange rate changes on cash | 48 | 45 | ||||||
| Net decrease in cash and cash equivalents | (65 | ) | (1,132 | ) | ||||
| Cash and cash equivalents, beginning of period | 8,636 | 7,690 | ||||||
| Cash and cash equivalents, end of period | $ | 8,571 | $ | 6,558 | ||||
|
QUMU CORPORATION |
||||||||
|
Supplemental Financial Information |
||||||||
|
(unaudited – in thousands) |
||||||||
|
A summary of revenue is as follows: |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2019 | 2018 | |||||||
| Software licenses and appliances | $ | 1,005 | $ | 451 | ||||
| Service | ||||||||
| Subscription, maintenance and support | 5,563 | 4,038 | ||||||
| Professional services and other | 530 | 342 | ||||||
| Total service | 6,093 | 4,380 | ||||||
| Total revenue | $ | 7,098 | $ | 4,831 | ||||
|
A reconciliation from GAAP results to adjusted EBITDA is as |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2019 | 2018 | |||||||
| Net loss | $ | (950 | ) | $ | (4,530 | ) | ||
| Interest expense, net | 205 | 844 | ||||||
| Income tax benefit | (4 | ) | (88 | ) | ||||
| Depreciation and amortization expense: | ||||||||
| Depreciation and amortization in cost of revenues | — | 3 | ||||||
| Depreciation and amortization in operating expenses | 73 | 169 | ||||||
| Total depreciation and amortization expense | 73 | 172 | ||||||
| Amortization of intangibles included in cost of revenues | 117 | 298 | ||||||
| Amortization of intangibles included in operating expenses | 218 | 229 | ||||||
| Total amortization of intangibles expense | 335 | 527 | ||||||
| Total depreciation and amortization expense | 408 | 699 | ||||||
| EBITDA | (341 | ) | (3,075 | ) | ||||
| Increase (decrease) in fair value of warrant liability | 289 | (387 | ) | |||||
| Other expense, net | 31 | 387 | ||||||
| Stock-based compensation expense: | ||||||||
| Stock-based compensation included in cost of revenues | 8 | 10 | ||||||
| Stock-based compensation included in operating expenses | 223 | 200 | ||||||
| Total stock-based compensation expense | 231 | 210 | ||||||
| Adjusted EBITDA | $ | 210 | $ | (2,865 | ) | |||
Contacts
Dave Ristow
Chief Financial Officer
Qumu Corporation
[email protected]
+1.612.638.9045
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493
Warning: Attempt to read property "cat_ID" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493
Cannabis
Cannabis Capsule Global Analysis Report 2024: Market to Reach $79.2 Billion in 2028 – Forecast to 2033 Featuring GW Pharmaceuticals, Trulieve Cannabis, Green Thumb Industries, Tilray, Columbia Care
Innocan
Innocan Pharma Initiates FDA Approval Process for Liposome Injection Therapy for Chronic Pain
With its submission of a Pre-IND Meeting Request Letter, Innocan initiates the regulatory process with the U.S. Food and Drug Administration (FDA) for the approval of its prolonged CBD release technology for human use
HERZLIYA, Israel and CALGARY, AB, April 22, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), is pleased to announce that is has reached a key milestone: the Company submitted its letter of application for a Pre-IND meeting, the first phase in the FDA approval process in the United States for Innocan’s Liposome-Cannabidiol (LPT-CBD) injectable treatment of chronic pain.
With the global market for pain therapeutics widely expected to exceed US$100 billion by 2032[1], LPT therapy which requires only one single monthly subcutaneous injection, is positioned as a highly attractive alternative to opioid-based approaches. Opioids have and continue to take a significant human toll in recent years, with more than three-quarters of drug overdose deaths in the United States involving opioids, according to the United States Center for Disease Control and Prevention[2].
Innocan’s therapy has shown consistent efficacy in multiple pre-clinical trials in recent years of it’s LPT-CBD injectable treatment through prolonged and controlled release of CBD in animals with chronic pain conditions. Innocan’s Pre-IND Meeting Request Letter to the FDA is a key milestone and important first step in seeking approval of its LPT-CBD therapy for use in humans. At the Pre-IND meeting, the objective will be to obtain guidance from the FDA on the preclinical and clinical development plan, enabling the initiation of an Investigational New Drug (IND) program in the United States.
Iris Bincovich, CEO of Innocan, commented: “We are extremely excited to embark on this next stage in the development of LPT-CBD injectables, this is a major Milestone for Innocan Pharma. We have invested significant effort and many thousands of person-hours in its research and development, accumulating a wealth of preclinical data that will serve as the foundation for our participation in the FDA process. This is a key milestone for Innocan and marks our first step towards the FDA’s recognition of our technology. We see significant potential for our therapy, with an addressable market for pain management therapeutics expected to exceed US $100 billion by 2032, and we look forward to tapping that.“
Dr. Joseph Pergolizzi, Innocan’s FDA Advisory Board Member, added:
“We have worked hard to catalogue the data collected as part of our animal LPT therapy testing program and prepare it for the FDA. We look forward to working under FDA guidance, with the goal of completing the review process as quickly and efficiently as possible. We believe that Innocan’s unique treatment method, if and when it should become FDA-approved has the potential of being a highly valuable non-opioid addition in the medical arsenal of the management of chronic pain.”
About Innocan
Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies based on advanced cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD- loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for: Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment, Innocan has established a joint venture by the name of BI Sky Global Ltd. that focuses on advanced targeted online sales. https://innocanpharma.com/
For further information, please contact:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1-516-210-4025
+972-54-3012842
+442037699377
[email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary note regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company’s products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
[1] https://www.gminsights.com/industry-analysis/pain-management-drugs-market
[2] https://www.cdc.gov/opioids/data/index.html
Logo – https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-initiates-fda-approval-process-for-liposome-injection-therapy-for-chronic-pain-302122779.html
Bolsters Company’s Advantage in Several Key Emerging Markets, including Australia, New Zealand, Germany, Poland and the United Kingdom
NEW YORK, April 22, 2024 /PRNewswire/ — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer cannabis products, announced today the closing of its acquisition of Northern Green Canada (“NGC”), a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international market through its EU-GMP certification. The accretive acquisition amplifies the Company’s strategic advantage in established European markets including Germany, Poland and the United Kingdom and provides a foothold in the emerging markets of Australia and New Zealand.
Integrating NGC’s international operation will equip Curaleaf with a secure and consistent high quality, non-irradiated, indoor EU-GMP flower supply, essential to maintaining its leading positions in Germany, the United Kingdom and Poland.
“We are thrilled to welcome NGC formally to the Curaleaf family of global brands,” said Boris Jordan, Founder and Executive Chairman of Curaleaf. “This is an incredibly important deal for our international expansion strategy, as we’ll be able to bolster our supply of high quality EU-GMP certified flower immediately to key European markets as well as enter the fast-growing markets of Australia and New Zealand.”
The global cannabis market is projected to generate $55 billion in sales by 2027. Emerging markets beyond the United States and Canada, including Germany, Australia and New Zealand are expected to contribute $6.3 billion of the $55 billion projection.
Terms of the acquisition of NGC include an initial payment at closing of the Company’s Subordinate Voting Shares valued at approximately US $16 million, subject to a typical post-closing adjustment. An earnout may also be paid in 2025 based upon 2024 performance of NGC’s operations, up to 50% of which will be cash and the rest paid in additional Subordinate Voting Shares. The issuance of Subordinate Voting Shares in connection with the acquisition of NGC has been conditionally approved by the Toronto Stock Exchange, subject to fulfilling customary listing conditions.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find and Zero Proof provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.
Forward Looking Statements
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, “expects” or, “proposed”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the expected benefits of the acquisition of NGC, and the Company’s planned expansion on internal markets, the Company’s anticipated strategic advantages in European markets and emerging markets, the integration of NGC’s internal operations, the anticipated global cannabis market, and the listing of shares issuable in connection with the acquisition on the Toronto Stock Exchange. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matters described in this new release, including the Company’s ability to successfully realize the expected benefits of the acquisition, and the Company’s ability to fulfil the listing conditions imposed by the Toronto Stock Exchange. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including the failure to realize the expected benefits of the acquisition, or the Company’s failure to fulfil the listing conditions imposed by the Toronto Stock Exchange. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed on March 6, 2024, which is available under the Company’s SEDAR profile at http://www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Toronto Stock Exchange has not reviewed, approved or disapproved the content of this news release.
INVESTOR CONTACT
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment Officer
[email protected]
MEDIA CONTACT
Curaleaf Holdings, Inc.
Tracy Brady, SVP Corporate Communications
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/curaleaf-completes-acquisition-of-northern-green-canada-302123010.html
-
Cannabis2 weeks ago
Hemp, Inc. Welcomes USDA Approval of GMO Hemp Strain – A Step Forward in Cannabis Biotechnology
-
Cannabis2 weeks agoIM Cannabis and Flora Growth Partner to Bring Vessel Cannabis Accessories to the Israeli Market
-
Cannabis2 weeks ago
Right On Brands, Inc. Continues Rollout, Announces 13th Store Opening
-
Cannabis2 weeks agoAvicanna Announces Completion of Topical Gel Observational Real-World Evidence Study
-
Cannabis2 weeks ago
Geopulse Exploration, Inc. Acquires 50% of ATC Services
-
Cannabis2 weeks ago
Tilray Brands, Inc. Reports Q3 Fiscal 2024 Financial Results
-
transfer1 week ago
IMC to transfer its Oranim Pharmacy shares back to the seller
-
Cannabis1 week ago
Right on Brands Announces Major Product Line Expansion via HONEY® Brands
