Price Target Changed • 8h
Price target increased by 13% to CA$3.38 Up from CA$3.00, the current price target is an average from 4 analysts. New target price is 76% above last closing price of CA$1.92. Stock is up 12% over the past year. The company is forecast to post earnings per share of CA$0.12 for next year compared to CA$0.14 last year. Announcement • Jul 08
Cannara Biotech Inc. to Report Q3, 2026 Results on Jul 15, 2026 Cannara Biotech Inc. announced that they will report Q3, 2026 results at 8:00 AM, US Eastern Standard Time on Jul 15, 2026 Reported Earnings • Apr 15
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: CA$0.017 (down from CA$0.037 in 2Q 2025). Revenue: CA$27.2m (up 2.7% from 2Q 2025). Net income: CA$1.66m (down 50% from 2Q 2025). Profit margin: 6.1% (down from 13% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Personal Products industry in North America. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 29% per year. Announcement • Apr 07
Cannara Biotech Inc. to Report Q2, 2026 Results on Apr 14, 2026 Cannara Biotech Inc. announced that they will report Q2, 2026 results at 7:00 AM, US Eastern Standard Time on Apr 14, 2026 Announcement • Feb 05
Cannara Biotech Inc. announced that it has received CAD 6.3 million in funding from Phoenician Capital LLC and another investor Cannara Biotech Inc. announced a non-brokered private placement of 3,000,000 common shares of the Company at a price of CAD 2.10 per Common Share for gross proceeds of CAD 6,300,000 on February 4, 2026. The transaction involves participation from new investor Phoenician Capital LLC. The issue price of the Common Shares represents an approximate 16% premium to the Company’s closing price on February 3, 2026, the last trading day prior to the announcement of the Private Placement. The Common Shares issued in connection with the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws and the policies of the TSXV. No finder’s fees or commissions were paid in connection with the Private Placement. The transaction is subject to final acceptance of the TSX Venture Exchange. The Company further announces that Zohar Krivorot has entered into an agreement to sell, on an exempt basis, 333,333 Common Shares of the Company to Phoenician at a price of CAD 2.10 per Common Share. The Company is not a party to the Secondary Share Sale and will not receive any proceeds from the transaction, which was undertaken solely to offset personal tax losses arising due to the recent vesting of certain restricted share units in the Company. The Common Shares sold to Phoenician under the Secondary Share sale are also subject to restrictions on transfer for a period of four months and one day. Prior to completion of the Secondary Share Sale, the individual investor beneficially owns or exercises control or direction over, directly or indirectly, 25,852,540 Common Shares of the Company, representing approximately 26.99% of the issued and outstanding Common Shares. Upon completion of the Secondary Share Sale, individual investor is expected to beneficially own or exercise control or direction over, directly or Cannara Biotech Inc 2 indirectly, 25,519,207 Common Shares of the Company, representing approximately 25.83% of the issued and outstanding Common Shares, after giving effect to the Private Placement. Reported Earnings • Jan 26
First quarter 2026 earnings released: EPS: CA$0.011 (vs CA$0.026 in 1Q 2025) First quarter 2026 results: EPS: CA$0.011 (down from CA$0.026 in 1Q 2025). Revenue: CA$30.1m (up 21% from 1Q 2025). Net income: CA$1.04m (down 55% from 1Q 2025). Profit margin: 3.5% (down from 9.2% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Personal Products industry in North America. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Jan 14
Cannara Biotech Inc. to Report Q1, 2026 Results on Jan 26, 2026 Cannara Biotech Inc. announced that they will report Q1, 2026 results at 7:00 AM, US Eastern Standard Time on Jan 26, 2026 Announcement • Nov 26
Cannara Biotech Inc., Annual General Meeting, Jan 29, 2026 Cannara Biotech Inc., Annual General Meeting, Jan 29, 2026. Reported Earnings • Nov 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CA$0.14 (up from CA$0.071 in FY 2024). Revenue: CA$107.3m (up 31% from FY 2024). Net income: CA$13.1m (up 103% from FY 2024). Profit margin: 12% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Personal Products industry in North America. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Nov 18
Cannara Biotech Inc. Announces the Passing of Jack M. Kay Member of the Board of Director Cannara Biotech Inc. announced the passing of Jack M. Kay, a long-serving and highly respected member of the Board of Directors. Mr. Kay, who joined the Board in 2019, contributed more than five decades of leadership experience in pharmaceutical and sales executive management to the Corporation. Mr. Kay spent 35 years at Apotex Inc., where he held several senior executive positions, including Chief Executive Officer, Chief Operating Officer, President, and Vice Chairman. He also served in key leadership roles across the pharmaceutical and biotechnology sectors, including Chairman of Helix Biopharma Corp. and Cangene Corp., and Director of Barr Pharmaceuticals Inc. In addition to his industry contributions, Mr. Kay was a dedicated community leader, notably serving as Chairman of the Humber River Regional Hospital (Toronto) and as an executive member of several healthcare and industry organizations. Announcement • Nov 17
Cannara Biotech Inc. to Report Q4, 2025 Results on Nov 24, 2025 Cannara Biotech Inc. announced that they will report Q4, 2025 results at 7:00 AM, US Eastern Standard Time on Nov 24, 2025 Reported Earnings • Jul 29
Third quarter 2025 earnings released: EPS: CA$0.045 (vs CA$0.022 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.045 (up from CA$0.022 in 3Q 2024). Revenue: CA$27.3m (up 40% from 3Q 2024). Net income: CA$4.14m (up 105% from 3Q 2024). Profit margin: 15% (up from 10% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Personal Products industry in North America. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jul 21
Cannara Biotech Inc. to Report Q3, 2025 Results on Jul 28, 2025 Cannara Biotech Inc. announced that they will report Q3, 2025 results at 7:00 AM, US Eastern Standard Time on Jul 28, 2025 Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$1.67, the stock trades at a trailing P/E ratio of 11.4x. Average forward P/E is 22x in the Personal Products industry in North America. Total returns to shareholders of 52% over the past three years. Announcement • Apr 16
Cannara Biotech Inc. to Report Q2, 2025 Results on Apr 28, 2025 Cannara Biotech Inc. announced that they will report Q2, 2025 results at 7:00 AM, US Eastern Standard Time on Apr 28, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CA$1.06, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 21x in the Personal Products industry in North America. Total loss to shareholders of 3.6% over the past three years. Announcement • Mar 24
Cannara Biotech Inc. Announces Appointment of Justin Cohen to Board of Directors Cannara Biotech Inc. announced the appointment of Mr. Justin Cohen to its board of directors as an independent director. Mr. Cohen will also serve as a member of the Audit Committee. Mr. Cohen is a seasoned executive with a track record of driving transformational growth and providing valuable leadership in brand development, sales and marketing. As Chief Marketing and Chief Commercial Officer at Psycho Bunny, he spearheaded the brand’s evolution from a niche player to a global powerhouse. Under his leadership, revenues increased tenfold over three years, driven by strategic retail expansion, digital acceleration, and brand reinvention. Prior to Psycho Bunny, Mr. Cohen led direct-to-consumer and e-commerce strategy at Keurig Dr Pepper, expanding its digital footprint and scaling revenue across online and omnichannel platforms. He has also held leadership roles at Google, ALDO Group, and Sony Music, where he guided brands through digital transformation and new growth opportunities. Currently, as a senior executive at Cosmetic Physician Partners, Mr. Cohen oversees integrated marketing across a portfolio of over 55 clinics in the United States, ensuring scalable and sustainable expansion. In addition to his corporate leadership, he serves on the board of Dose Juice, advising on commercial strategy, market expansion, and operational efficiency. Mr. Cohen holds degrees in Marketing & Advertising, an MBA, and a master’s in behavioral science from the London School of Economics. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$1.25, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 27x in the Personal Products industry in North America. Total loss to shareholders of 3.8% over the past three years. Reported Earnings • Jan 27
First quarter 2025 earnings released: EPS: CA$0.026 (vs CA$0.023 in 1Q 2024) First quarter 2025 results: EPS: CA$0.026 (up from CA$0.023 in 1Q 2024). Revenue: CA$25.1m (up 29% from 1Q 2024). Net income: CA$2.31m (up 9.4% from 1Q 2024). Profit margin: 9.2% (down from 11% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Nov 26
Cannara Biotech Inc. Plans to Launch over 20 New Products in High Volume Categories Cannara Biotech Inc. announced for fiscal 2025, the company plans to launch over 20 new products in high volume categories, including innovative formats like all-in-one vape devices under Tribal and Nugz, and premium infused pre-rolls under Tribal. A rigorous pheno-hunting program underpins these developments, unlocking unique genetics tailored to brand fit, potency, structure, and market appeal. In April 2024, Cannara introduced three new genetics: Neon Sunshine and Bubble Up (Tribal) and Guava Jam (Nugz). Reported Earnings • Nov 26
Full year 2024 earnings released: EPS: CA$0.071 (vs CA$0.078 in FY 2023) Full year 2024 results: EPS: CA$0.071 (down from CA$0.078 in FY 2023). Revenue: CA$82.1m (up 44% from FY 2023). Net income: CA$6.44m (down 7.3% from FY 2023). Profit margin: 7.8% (down from 12% in FY 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Nov 12
Cannara Biotech Inc., Annual General Meeting, Jan 30, 2025 Cannara Biotech Inc., Annual General Meeting, Jan 30, 2025. New Risk • Sep 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (CA$59.4m market cap, or US$44.1m). Reported Earnings • Jul 24
Third quarter 2024 earnings released: EPS: CA$0.022 (vs CA$0.033 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.022 (down from CA$0.033 in 3Q 2023). Revenue: CA$19.5m (up 23% from 3Q 2023). Net income: CA$2.02m (down 31% from 3Q 2023). Profit margin: 10% (down from 18% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
Second quarter 2024 earnings released: CA$0.038 loss per share (vs CA$0.007 loss in 2Q 2023) Second quarter 2024 results: CA$0.038 loss per share (further deteriorated from CA$0.007 loss in 2Q 2023). Revenue: CA$19.7m (up 51% from 2Q 2023). Net loss: CA$3.45m (loss widened 458% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
First quarter 2024 earnings released: EPS: CA$0.023 (vs CA$0 in 1Q 2023) First quarter 2024 results: EPS: CA$0.023 (up from CA$0 in 1Q 2023). Revenue: CA$19.5m (up 89% from 1Q 2023). Net income: CA$2.11m (up CA$2.10m from 1Q 2023). Profit margin: 11% (up from 0% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 08
Full year 2023 earnings released: EPS: CA$0.078 (vs CA$0.026 in FY 2022) Full year 2023 results: EPS: CA$0.078 (up from CA$0.026 in FY 2022). Revenue: CA$57.6m (up 61% from FY 2022). Net income: CA$6.95m (up 201% from FY 2022). Profit margin: 12% (up from 6.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Dec 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Lead Director Don Olds was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 13
Cannara Biotech Inc., Annual General Meeting, Jan 25, 2024 Cannara Biotech Inc., Annual General Meeting, Jan 25, 2024. Reported Earnings • Jul 28
Third quarter 2023 earnings released: EPS: CA$0.03 (vs CA$0.016 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.03 (up from CA$0.016 in 3Q 2022). Revenue: CA$15.9m (up 58% from 3Q 2022). Net income: CA$2.93m (up 105% from 3Q 2022). Profit margin: 18% (up from 14% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 04
Independent Director recently bought CA$60k worth of stock On the 31st of May, Derek Stern bought around 53k shares on-market at roughly CA$1.13 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$530k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CA$1.05, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 10x in the Pharmaceuticals industry in Canada. Negligible returns to shareholders over past three years. Reported Earnings • Apr 26
Second quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.013 loss in 2Q 2022) Second quarter 2023 results: CA$0.007 loss per share (improved from CA$0.013 loss in 2Q 2022). Revenue: CA$13.0m (up 76% from 2Q 2022). Net loss: CA$618.1k (loss narrowed 46% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 24
First quarter 2023 earnings released: EPS: CA$0 (vs CA$0.001 loss in 1Q 2022) First quarter 2023 results: EPS: CA$0 (improved from CA$0.001 loss in 1Q 2022). Revenue: CA$10.3m (up 57% from 1Q 2022). Net income: CA$3.0k (up CA$533.5k from 1Q 2022). Profit margin: 0% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Dec 03
Cannara Biotech Inc., Annual General Meeting, Jan 25, 2023 Cannara Biotech Inc., Annual General Meeting, Jan 25, 2023. Recent Insider Transactions • Dec 02
Independent Director recently bought CA$117k worth of stock On the 30th of November, Derek Stern bought around 1m shares on-market at roughly CA$0.12 per share. This transaction amounted to 9.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$349k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 25
Full year 2022 earnings released: EPS: CA$0.003 (vs CA$0.002 loss in FY 2021) Full year 2022 results: EPS: CA$0.003 (up from CA$0.002 loss in FY 2021). Revenue: CA$36.0m (up 112% from FY 2021). Net income: CA$2.31m (up CA$3.83m from FY 2021). Profit margin: 6.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Sep 21
Cannara Biotech Inc. Announces Entry into the British Columbia Market and the Launch of Its First Vape Cartridge and Vape Accessory, Tribal G Mint and Uni Pro Ark Cannara Biotech Inc. announced its entry into the British Columbia (BC) market. In addition, the Company is also pleased to announce the launch of its first two premium product offerings in the vape and accessory categories. The Company has also introduced a premium universal 510 vape battery, the Tribal UNI Pro ARK, in collaboration with well-known premium vape manufacturer, Yocan, to provide a superior consumer vaping experience. "Cannara is pleased to have partnered with Yocan to deliver a vape battery that have the utmost confidence in. Recent Insider Transactions • Sep 09
Independent Director recently bought CA$81k worth of stock On the 31st of August, Derek Stern bought around 720k shares on-market at roughly CA$0.11 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$232k more in shares than they have sold in the last 12 months. Reported Earnings • Jul 28
Third quarter 2022 earnings released: EPS: CA$0.002 (vs CA$0.002 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.002 (vs CA$0.002 in 3Q 2021). Revenue: CA$10.1m (up 41% from 3Q 2021). Net income: CA$1.43m (down 16% from 3Q 2021). Profit margin: 14% (down from 24% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
Second quarter 2022 earnings released: CA$0.001 loss per share (vs CA$0.001 loss in 2Q 2021) Second quarter 2022 results: CA$0.001 loss per share (vs CA$0.001 loss in 2Q 2021). Revenue: CA$7.42m (up 229% from 2Q 2021). Net loss: CA$1.15m (loss widened 33% from 2Q 2021). Reported Earnings • Jan 23
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: CA$0.001 loss per share (up from CA$0.005 loss in 1Q 2021). Revenue: CA$6.56m (up 380% from 1Q 2021). Net loss: CA$530.5k (loss narrowed 85% from 1Q 2021). Revenue was in line with analyst estimates. Announcement • Dec 10
Cannara Biotech Inc. Announces New Products Launch Cannara Biotech Inc. Launched two new hash products within the Nugz brand in Quebec retail stores and Old School Hash in a 3-gram bar and Ice Water Hash in a 1-gram temple ball. Reported Earnings • Dec 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: CA$0.002 loss per share (up from CA$0.017 loss in FY 2020). Revenue: CA$17.3m (up CA$14.7m from FY 2020). Net loss: CA$1.53m (loss narrowed 88% from FY 2020). Revenue was in line with analyst estimates. Board Change • Dec 06
High number of new directors Independent Lead Director Don Olds was the last director to join the board, commencing their role in 2020. Announcement • Sep 29
Cannara Biotech Inc. Receives Processing and Cultivation License Cannara Biotech Inc. announced that it has received the license for cultivation and processing at its one million square foot cultivation and manufacturing facility in Valleyfield, Quebec. The majority of zones in the recently acquired greenhouse are being repurposed as an indoor facility to achieve the same growing conditions as Cannara's Farnham Facility, home of Tribal, Orchid CBD and Nugz. In the Company's first quarter in market, product sales surpassed $7 million with supply capabilities as the limiting factor. This ready build facility will allow the company to fasttrack time to market and will significantly increase product supply bolstering the company's revenues and footprint into new markets. Announcement • Sep 03
Cannara Biotech Inc. Receives Amendment of Its Licence from Health Canada Permitting the Sale of Cannabis 2.0 Products and Prepares for the Launch of Its Hash Product Line in Quebec Cannara Biotech Inc. announced it has received an amendment of its License from Health Canada, permitting the sale of Cannabis 2.0 products for which the Company intends to use to commercialize hash and other solventless concentrates, solvent-based concentrates, vaporizers, tinctures and topicals. Cannara is excited to announce the first expansion of its Nugz product line: OId School Hash and Ice Water Hash. These two products will first be launched in Quebec and have been specifically formulated for the Quebec market to provide quality hash that contains less than 30% THC. Both products are expected to be available to consumers in the Fall and will be offered in rotating genetics to provide a choice of flavours, terpenes and cannabinoid concentrations from the company's library of rare strains. Nugz Old School Hash is a traditional hash produced using age-old sieving methods and drawn from rare cannabis strains, dry-sifted, gently heated, and pressed into a consistent, sticky, malleable resin. Old School Hash will be available in three-gram bars. Nugz Ice Water Hash is a bubble hash derived from carefully selected single-source THC and CBD indoor-grown whole bud, extracted through ice water to deliver true-to-strain terpene profiles. Ice Water Hash will be available in one gram temple balls. Cannara reaches new Canadians through expansion to Ontario and Saskatchewan. Building on its success in the Quebec market, Cannara has expanded to Ontario and Saskatchewan, extending its reach to a new segment of consumers and marking a significant milestone in the Company's mission to become a leading Canadian cannabis producer. Dried flower and pre-roll products from Cannara's existing Tribal and Nugz lines are currently available at cannabis retailers across Saskatchewan, with the existing Tribal, Orchid CBD and Nugz product lines expected to launch in Ontario starting mid-September 2021. Reported Earnings • Jul 30
Third quarter 2021 earnings released: EPS CA$0.002 (vs CA$0.003 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$7.16m (up CA$6.40m from 3Q 2020). Net income: CA$1.70m (up CA$4.07m from 3Q 2020). Profit margin: 24% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Announcement • Jun 11
Cannara Biotech Inc. (TSXV:LOVE) entered into an agreement to acquire Quebec Facility of Medican Organic Inc. for CAD 32.7 million. Cannara Biotech Inc. (TSXV:LOVE) entered into an agreement to acquire Quebec Facility of Medican Organic Inc. for CAD 32.7 million on June 10, 2021. Pursuant to the agreement, Cannara Biotech will have deposited the full CAD 27 million (the “Purchase Price”) into escrow prior to the close of the sale. Additional CAD 5.7 million deposit to be refunded to Medican upon completion of the transfer to Cannara of a utility pricing agreement with Hydro Quebec, to occur concurrently with Closing. The acquisition will be financed by a non-brokered private placement of up to CAD 35,000,000. The transaction closing is subject to usual and customary conditions. Sale expected to close on or before June 22, 2021. The Green will use net proceeds to eliminate senior term debt. BMO Capital Markets acted as financial advisor and Langlois Lawyers LLP acted as legal counsel for The Green Organic Dutchman Holdings Ltd., parent of Medican Organic Inc. Reported Earnings • Feb 01
First quarter 2021 earnings released: CA$0.005 loss per share (vs CA$0.004 loss in 1Q 2020) First quarter 2021 results: Net loss: CA$3.50m (loss widened 28% from 1Q 2020). Reported Earnings • Dec 17
Full year 2020 earnings released: CA$0.017 loss per share Full year 2020 results: Net loss: CA$12.5m (loss widened 1.4% from FY 2019). Announcement • Nov 14
Cannara Biotech Inc., Annual General Meeting, Jan 25, 2021 Cannara Biotech Inc., Annual General Meeting, Jan 25, 2021. Announcement • Nov 06
Cannara Biotech Inc. Appoints Donald Olds to Board of Directors Cannara Biotech Inc. announced the appointment of Donald Olds as a Director on the Company's board of directors. Donald Olds is an experienced life sciences executive, entrepreneur and director with significant experience raising capital for private and public technology companies. Most recently, he was President and Chief Executive Officer of Montreal-based NEOMED Institute. 