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CannaPharmaRX, Inc. - CPMD STOCK NEWS

Welcome to our dedicated page for CannaPharmaRX news (Ticker: CPMD), a resource for investors and traders seeking the latest updates and insights on CannaPharmaRX stock.

CannaPharmaRx, Inc. is a company based in Calgary, Canada, that specializes in acquiring and developing cannabis cultivation projects in Canada. The company focuses on becoming a leader in high-quality, low-cost cannabis production through the acquisition and enhancement of existing facilities. With a commitment to utilizing the latest technology in combined heat and power generation to ensure cost efficiency, CannapharmaRx is dedicated to operating high-quality facilities. They recently finalized a supply agreement with ICAN Green S.A. de C.V., a division of ICAN Investing Group LLC, to supply products for distribution in the Latin Americas, with a primary focus on Mexico and Panama. This strategic partnership marks a significant milestone for both companies and emphasizes CannapharmaRx's commitment to global expansion and quality products.

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CannaPharmaRx (OTC PINK:CPMD) has announced its Q1 2024 financial results, marking the commencement of revenue generation. The company reported revenues of $25,839 for Q1 2024, compared to $0 in the same period in 2023. Operating expenses decreased by $367,491, from $720,277 in Q1 2023 to $352,786 in Q1 2024. Despite this, the company reported a net loss of $11,594,301 or $0.03 per share, up from a net loss of $1,418,229 or $0.00 per share in Q1 2023. The increased loss was mainly due to non-cash events including changes in fair value of derivative liabilities and obligations to issue shares.

Operational highlights include receiving key licenses from Health Canada and the Canada Revenue Agency (CRA), as well as strategic supply agreements with Israeli and Latin American partners. The company aims for accelerated revenue growth in FY2024, with plans to achieve regular harvesting and increased international sales. CannaPharmaRx plans to expand its customer network, obtain EU GMP certification, and leverage its advanced production facility to enhance profitability.

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CannaPharmaRx (OTC PINK:CPMD) announced an investor conference call on May 21, 2024, at 1 PM EST to discuss recent developments.

CEO Dean Medwid will review the company's financials, product and harvesting updates, purchase orders, inventory and shipments, distributor relations, expansion plans, and forecasted revenues.

The call will be accessible by dialing 530-881-1212 with ID 615-253-385# and Passcode 1674609.

A recording of the call will be available upon request for those unable to attend.

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CannaPharmaRx (OTC PINK:CPMD) announced an upcoming investor conference call on May 21, 2024, at 1 PM EST, led by CEO Dean Medwid. The call will cover a review of financials and achievements, product and harvesting updates, purchase orders, inventory and shipments, distributor and expansion updates, and forecasted revenues. Interested parties can join by dialing 530-881-1212 with ID Pin 615-253-385# and Passcode 1674609. A recording will be available upon request.

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CannapharmaRx, Inc. (CPMD) successfully extinguishes convertible notes, avoiding stock dilution and protecting shareholder interests. The repayment strengthens the company's position and enhances flexibility for future growth.
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CannaPharmaRx, Inc. (CPMD) has received its first purchase order for cannabis products, marking a significant milestone in its global expansion. The company is set to distribute products in Canada and Israel, with plans for continuous supply in the future.
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CannaPharmaRx, Inc. (CPMD) completes first five grows and harvests, ready for distribution with annual production capacity of 6000kg. Anticipates revenue ramp-up in spring.
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CannaPharmaRx, Inc. (CPMD) to hold investor conference call to discuss operational activities, licensing, products, supply partners, and forecasted revenues.
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CannaPharmaRx, Inc. (CPMD) finalized a supply agreement with ICAN Green S.A. de C.V., a division of ICAN Investing Group LLC, to supply cannabis products in Latin America, focusing on Mexico and Panama. ICAN is a key player in cannabis education and research, being the first company to import THC API legally into Mexico. The agreement entails CannapharmaRx supplying ICAN with cannabis products, ensuring minimum annual purchases. This partnership signifies a strategic move for international expansion and revenue diversification for both companies.
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CannaPharmaRx, Inc. (CPMD) secures IMC-GAP and GACP certifications for cannabis production, enabling sales in Israel. The certifications highlight the company's commitment to quality, safety, and environmental standards, facilitating international expansion and product delivery in Israel.
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CannaPharmaRx (CPMD) announces a strategic Supply Agreement with Cantek Holdings, a leading player in Israel's medical cannabis industry. The agreement entails supplying a minimum of 1,000 kgs of product annually to Cantek, tapping into Israel's growing consumer demand. This move positions CannaPharmaRx in key international cannabis markets, leveraging Cantek's strong presence in Israel's medical cannabis sector.
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FAQ

Where is CannaPharmaRx, Inc. based?

The company is based in Calgary, Canada.

What is the core focus of CannapharmaRx?

CannapharmaRx focuses on acquiring and developing cannabis cultivation projects in Canada.

What recent partnership did CannapharmaRx finalize?

CannapharmaRx recently finalized a supply agreement with ICAN Green S.A. de C.V. for product distribution in the Latin Americas.

What is CannapharmaRx's business strategy?

The company's strategy is to become a leader in high-quality, low-cost cannabis production through the acquisition and enhancement of existing facilities.

What technology does CannapharmaRx use for cost efficiency?

CannapharmaRx utilizes the latest technology in combined heat and power generation for cost efficiency.

What milestone did the partnership with ICAN represent?

The partnership with ICAN marked a significant milestone in CannapharmaRx's strategic global expansion.

Who is the CEO of CannapharmaRx?

Dean Medwid is the CEO of CannapharmaRx.

What is the annual production capacity of CannapharmaRx's facility?

The annual production capacity is 6000kg or approximately $18 million in top line revenue.

What did CannapharmaRx recently announce regarding convertible notes?

CannapharmaRx recently announced the extinguishment of convertible notes to avoid potential stock dilution and protect shareholder interests.

What upcoming event did CannapharmaRx announce?

CannapharmaRx announced that it will hold an investor conference call on March 19, 2024, to provide an update on the year-to-date progress of the company.

CannaPharmaRX, Inc.

OTC:CPMD

CPMD Rankings

CPMD Stock Data

7.29M
644.67M
0.09%
Medicinal and Botanical Manufacturing
Manufacturing
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United States of America
Calgary