Annonce • Sep 20
Sproutly Canada Inc. (CNSX:SPR) executed a binding Letter of Intent to acquire Global assets of Apollon Formularies for CAD 7 million. Sproutly Canada Inc. (CNSX:SPR) executed a binding Letter of Intent to acquire Global assets of Apollon Formularies for CAD 7 million on September 12, 2023. After the successful completion of due diligence, Sproutly will acquire the assets of Apollon pursuant to an Asset Purchase Agreement. In exchange, Sproutly will issue to Apollon a sufficient number of Sproutly shares so that Apollon will own 49% of the enlarged shar capital of Sproutly, post-transaction. If the transaction takes place with the number of outstanding Sproutly shares as are currently in issue, and at an anticpated deemed price of CAD 0.02 (the price at which the trading of common shares of Sproutly was suspended), the effective valuation of the disposal of Apollon's assets will be CAD 7 million. The disposal of the assets will likely constitute a fundamental change to Apollon's business, and therefore an explanatory circular will be prepared and a general meeting called in due course, to obtain shareholder approval for the disposal. Annonce • Sep 03
Sproutly Canada Inc. announced that it has received CAD 0.1 million in funding Sproutly Canada Inc. announced a private placement of 6,666,666 units at a price of CAD 0.015 per unit for gross proceeds of CAD 100,000 on September 1, 2022. Each unit consisting of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at an exercise price of CAD 0.05 for a period of two years from the date of issue. All securities issued in connection with the private placement are subject to a four month and a day transfer restriction from the date of issuance. The private placement is subject to the approval of the Canadian Securities Exchange. The company paid finder's fees in the amount of CAD 8,000 through the issuance of 552,500 units on the same terms as described above. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: CA$0.003 loss per share (up from CA$0.004 loss in 3Q 2021). Revenue: CA$94.6k (up 166% from 3Q 2021). Net loss: CA$1.13m (loss narrowed 6.4% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 31
Second quarter 2022 earnings released: CA$0.001 loss per share (vs CA$0.007 loss in 2Q 2021) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2022 results: Revenue: CA$109.6k (down 44% from 2Q 2021). Net loss: CA$310.2k (loss narrowed 82% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings. Annonce • Aug 17
Sproutly Canada Inc. (CNSX:SPR) acquired Primary Assets of CannaHive Inc. Sproutly Canada Inc. (CNSX:SPR) acquired Primary Assets of CannaHive Inc. on August 16, 2021.
Sproutly Canada Inc. (CNSX:SPR) completed the acquisition of Primary Assets of CannaHive Inc. on August 16, 2021. Reported Earnings • Jul 20
Full year 2021 earnings released: CA$0.061 loss per share (vs CA$0.30 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: CA$316.4k (down 66% from FY 2020). Net loss: CA$16.4m (loss narrowed 73% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Annonce • Apr 16
Sproutly Canada Inc. announced that it has received CAD 1.348302 million in funding On April 15, 2021, Sproutly Canada Inc. (CNSX:SPR) closed the transaction. The company issued 15,916,037 units for CAD 795,802 in its second and final tranche. The company issued a total of 26,966,037units for CAD 1,348,302 in the transaction. The transaction included participation from Arup Sen, Chief Executive Officer and director of the company through a company controlled by Sen participated for 3,000,000 units. The transaction is subject to the approval of Canadian Securities Exchange. The company will issuance of 450,000 units for CAD 22,500 to finders in the transaction. Annonce • Mar 16
Sproutly Canada Inc. announced a financing transaction Sproutly Canada Inc. (CNSX:SPR) announced a private placement of units on March 15, 2021. Each unit consisting of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at an exercise price of CAD 0.07 for a period of two years from the date of issue. All securities issued in connection with the private placement are subject to a four month and a day transfer restriction from the date of issuance. The transaction is subject to the approval of the Canadian Securities Exchange. The company paid finder's fess of CAD 24,862.50 through issuance of 497,250 units.
On the same date, the company issued 11,050,000 units at a price of CAD 0.05 for gross proceeds of CAD 552,500. Reported Earnings • Jan 31
Third quarter 2021 earnings released: CA$0.004 loss per share (vs CA$0.007 loss in 3Q 2020) Third quarter 2021 results: Net loss: CA$1.21m (loss narrowed 16% from 3Q 2020). Annonce • Jan 12
Sproutly Enters into LOI with Cannahive Inc Sproutly Canada Inc. has executed a Letter of Intent to enter into a commercial relationship with CannaHive Inc. The agreement will allow Sproutly to further expand its Cannabis 2.0 product offerings produced by the Company’s wholly-owned subsidiary, Toronto Herbal Remedies Inc. Sproutly will leverage CannaHive’s proprietary manufacturing and packaging equipment and intellectual property to produce cannabis dissolvable powder at THR’s licensed facility. This agreement follows closely on the heels of the LOI with Cannabis Manufacturer’s Guild Ltd. These relationships will provide synergies for the branding, commercialization, and distribution of a portfolio of cannabis products through THR’s existing agreements with multiple provinces in Canada. Annonce • Dec 18
Sproutly Canada Inc. Enters Into LOI With Cannabis Manufacturer’s Guild Ltd Sproutly Canada Inc. has executed a Letter of Intent (the “LOI”) to enter into a commercial relationship with Cannabis Manufacturer’s Guild Ltd. (“CMG”). The agreement will allow Sproutly to expand and diversify its flower and Cannabis 2.0 product offerings utilizing brands developed by CMG and its affiliates (the “Acquired Products”), through the Company’s wholly-owned subsidiary, Toronto Herbal Remedies Inc. (“THR”). Sproutly will leverage CMG’s expertise in branding, commercialization, and distribution of cannabis products for underserved categories in the Canadian market. The agreement allows Sproutly to sell the Acquired Products and facilitate potential business-to-business sales of Sproutly’s proprietary whole plant extracts to CMG’s network of Guild members. Annonce • Nov 17
Sproutly Canada, Inc. Announcea the Addition of A Supply Agreement with the Ontario Cannabis Store Sproutly Canada Inc. announced the addition of a supply agreement with the Ontario Cannabis Store ("OCS"), the Company's 6th provincial supply agreement to date. This announcement comes on the heels of the Company's October 15th announcement regarding receipt of the sales license from Health Canada for Cannabis 2.0 products directly to provinces. The Company's wholly-owned subsidiary, Toronto Herbal Remedies ("THR"), has entered into a cannabis supply agreement with the province of Ontario (the "Supply Agreement") through the OCS. Ontario will be the 6th province in Canada to carry the Company's CALIBER branded products ("CALIBER"), following Saskatchewan, Manitoba, and British Columbia earlier this year as well as Alberta & New Brunswick in 2019. With the receipt of the license amendment that now permits the Company to sell Cannabis 2.0 products, the Company is in a position to offer its full line of products to the OCS. This includes Caliber Flower, Caliber Reserve Flower and upcoming Cannabis 2.0 products that will use the Company's proprietary APP Technology to offer consumers products that aim to deliver unique experiences of different cannabis strains arising from advances in cannabis genetics. Annonce • Nov 10
Sproutly Canada Inc. Announces Its Sixth Provincial Supply Agreement Sproutly Canada Inc. announced the addition of a supply agreement with the Ontario Cannabis Store, the Company’s 6th provincial supply agreement to date. This announcement comes on the heels of the Company’s October 15th announcement regarding receipt of the sales license from Health Canada for Cannabis 2.0 products directly to provinces. The Company’s wholly-owned subsidiary, Toronto Herbal Remedies (“THR”), has entered into a cannabis supply agreement with the province of Ontario (the “Supply Agreement”) through the OCS. Ontario will be the 6th province in Canada to carry the Company’s CALIBER branded products ("CALIBER"), following Saskatchewan, Manitoba, and British Columbia earlier this year as well as Alberta & New Brunswick in 2019. With the receipt of the license amendment that now permits the Company to sell Cannabis 2.0 products, the
Company is in a position to offer its full line of products to the OCS. This includes Caliber Flower, Caliber Reserve Flower and upcoming Cannabis 2.0 products that will use the Company’s proprietary APP Technology to
offer consumers products that aim to deliver unique experiences of different cannabis strains arising from advances in cannabis genetics. Annonce • Sep 07
Sproutly Canada Inc. Auditor Raises 'Going Concern' Doubt Sproutly Canada Inc. filed its Annual on Aug 31, 2020 for the period ending Feb 29, 2020. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Annonce • Aug 28
Sproutly Canada Inc. announced that it has received CAD 0.96 million in funding from Infusion Biosciences Inc. Sproutly Canada Inc. (CNSX:SPR) announced a non-brokered private placement of 1,500,000 equity units at an issue price of 0.07 per equity unit for gross proceeds of CAD 105,000 and a secured convertible debenture for gross proceeds of CAD 855,000 and aggregate gross proceeds of CAD 960,000 on August 28, 2020. The debentures involved participation from returning investor Infusion Biosciences Inc. for CAD 855,000. The debentures carry an interest rate of 15% per annum and maturity date on or before October 24, 2020. The debenture will be convertible into debenture units a conversion price of CAD 0.07 per debt unit, subject to adjustment in accordance with the terms of the convertible debenture. Each debt unit will consist of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the investor to acquire one common share at an exercise price equal to CAD 0.08 for a period of two years from date of issuance. Each equity unit consists of one common share and one warrant, with each warrant entitling the holder to acquire one warrant share at an exercise price equal to CAD 0.08 for a period of two years from date of issuance. No finder's fees were paid in connection with the transaction. All securities issued in connection with the transaction will be subject to a four-month and one day hold period from their date of issue under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. 