Board Change • Apr 23
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Mar 20
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Jan 04
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Dec 15
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.02 loss in 3Q 2022) Third quarter 2023 results: CA$0.009 loss per share. Revenue: CA$150.7k (down 40% from 3Q 2022). Net loss: CA$504.2k (loss widened 3.7% from 3Q 2022). Board Change • Oct 06
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Sep 03
Second quarter 2023 earnings released: CA$0.014 loss per share (vs CA$0.022 loss in 2Q 2022) Second quarter 2023 results: CA$0.014 loss per share (improved from CA$0.022 loss in 2Q 2022). Revenue: CA$422.2k (up 54% from 2Q 2022). Net loss: CA$477.3k (loss narrowed 11% from 2Q 2022). Board Change • Aug 24
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. New Risk • Jun 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 124% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 6.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (124% increase in shares outstanding). Market cap is less than US$10m (CA$1.08m market cap, or US$821.4k). Minor Risk Revenue is less than US$5m (CA$1.4m revenue, or US$1.1m). New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 6.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 6.8% per year over the past 5 years. Market cap is less than US$10m (CA$723.9k market cap, or US$548.8k). Minor Risk Revenue is less than US$5m (CA$1.4m revenue, or US$1.1m). Annuncio • Jun 23
Hempsana Holdings Ltd. Announces Resignation of Douglas Sommerville as Director Hempsana Holdings Ltd. informed that Douglas Sommerville has announced that due to other personal commitments, that he has resigned as a Director of the Company and would not seek re-election at the upcoming Annual General Meeting. Annuncio • Jun 13
Hempsana Holdings Ltd. announced that it has received CAD 0.9 million in funding from Antosh Consulting Inc. On June 12, 2023, Hempsana Holdings Ltd. closed the transaction. The company announced that it has amended the terms of the transaction. The company has entered into a subscription agreement and has now issued 30,000,000 units of the company at a price of CAD 0.03 per unit, for a total purchase price of CAD 900,000. Each unit is comprised of one common share and one-sixth of one common share purchase warrant in the capital of the company. The unit offering is expected to close on or about June 12, 2023. Each warrant will be exercisable to acquire one Common Share at a price of CAD 0.05 per warrant share for a period of one year from the closing date. The warrants contain an acceleration clause whereby if company's common shares trade on a Canadian stock exchange at a volume weighted average price of CAD 0.10 or more for 10 consecutive trading days, company will have the right to accelerate the exercise period to a period ending at least 30 days from the date that notice of such acceleration is provided to the holders of the Warrants. Board Change • Jun 09
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annuncio • May 12
Hempsana Holdings Ltd. announced that it has received CAD 0.9 million in funding Hempsana Holdings Ltd. announced that it has entered into Convertible Debt Purchase Agreement for the aggregate principal amount of 8% unsecured convertible debenture CAD 900,000 on May 10, 2023. The debentures bear 8% interest rate and matures five years from the date of issuance. The principal amount of the Debenture will automatically convert into Common Shares of the Corporation in the event that the Common Shares trade at a volume-weighted average trading price of CAD 0.25 per share for a period of 10 consecutive trading days on the Canadian Securities Exchange. The Debenture will convert into Common Shares at a conversion price of CAD 0.05 per share. The Debenture may also be converted into Common Shares at such conversion price at the option of the Lender, at any time after the maturity date. The terms of the Agreement also provide that the Lender will be issued 12,000,000 Common Shares as consideration for the issuance of the Debenture. Board Change • Apr 11
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 09
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 17
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 14
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 28
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 04
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 01
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annuncio • Aug 27
Hempsana Holdings Ltd. Announces Resignation of Sohil Mana from the Board of Directors Hempsana Holdings Ltd. announced the resignation of Sohil Mana from the Board of Directors. Mr. Mana was one of the founders of the Company, and will continue to play an active role in advising the Company going forward. Board Change • Jul 11
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 02
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Mar 11
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Director Michael Bang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Annuncio • Feb 25
Hempsana Holdings Ltd. Announces Health Canada Medical Sales License Hempsana Holdings Ltd. announced that it has received its medical sales license from Health Canada which provides the Company the ability to sell cannabis products directly to medical patients across Canada. On February 4, 2022, the Company received the amendment to their sales license marking another important milestone, enabling the sale of all products directly to medical consumers. The Canadian medical cannabis market has approximately 300,000 patients with an average prescription of 2 grams per day and accounted for over $400 million in sales for 2021. In Canada, most medical cannabis products are sold directly to patients via a licensed producer with a medical sales license. This milestone will allow Hempsana Inc. to provide patients with a diverse range of products while opening up an additional sales channel. Annuncio • Nov 30
Hempsana Holdings Ltd. Announces Commercial Production of CBG Hempsana Holdings Ltd. announced its completion of it’s large commercial run of cannabigerol (“CBG”). In early November, Hempsana completed its commercial scale run of CBG at its manufacturing facility in Goderich. The product from this first run was primarily used for customer samples and to provide material as a part of a tolling agreement. Since this initial production run, Hempsana has increased its production by >1,000% and will continue to dedicate a significant portion of its production capacity to CBG as well as other minor cannabinoids. Since launching CBG, Hempsana has received inquiries for CBG, which is a relatively new cannabinoid that is not readily available in the cannabis space. CBG is an exciting, rare cannabinoid with distinctive properties and has been shown to act as an anti-inflammatory, anti-microbial, antioxidant, and neuroprotectant in research studies. Annuncio • Sep 24
Hempsana Holdings Ltd. Receives Amended Sales License from Health Canada Allowing Sale of Cannabis 2.0 Products Hempsana Holdings Ltd. announced that the company has received approval from Health Canada to amend their cannabis licence to authorize the activity of sale of cannabis extracts, beverages, edibles, and topical products. The amended licence will allow Hempsana to supply and sell finished cannabis products directly to provincial distributors and other authorized Canadian retail supply channels. 