Welcome to our dedicated page for Greenway Greenho news (Ticker: GWAYF), a resource for investors and traders seeking the latest updates and insights on Greenway Greenho stock.
Greenway Greenhouse Cannabis Corporation (CSE: GWAY, OTCQB: GWAYF) is a federally licensed cultivator of greenhouse-grown cannabis for the Canadian marketplace. Company news releases focus on operational performance, cultivation efficiency, consumer-packaged goods initiatives, and the expansion of wholesale and international channels.
Readers of the GWAYF news page can expect updates on Greenway’s financial reporting, including audited annual financial statements and unaudited interim results, as well as commentary from management on revenue trends, margins, and cash flow. The company regularly highlights changes in average sales price per gram, cost metrics, and the utilization of cultivation space as part of its broader strategy.
News coverage also includes developments in Greenway’s Canadian recreational CPG activities, such as the launch and expansion of MillRite and EPIC Cannabis Co brands, new pre-roll and milled-flower SKUs, and the acquisition of additional cannabis brands and related intellectual property from Choice Growers Cannabis Inc. These announcements outline how Greenway is broadening its product mix and presence across Canadian provinces.
Another key theme in Greenway’s news is international growth. The company reports on its international wholesale program, including shipments into multiple jurisdictions across Europe and Australia and a supply agreement with 4C LABS in the United Kingdom medical cannabis market. Operational updates, such as applications for new propagation space and efforts to increase crop rotations and biomass throughput, also feature prominently.
Investors and observers can use this news feed to follow how Greenway’s greenhouse cultivation strategy, brand portfolio, and international relationships evolve over time, with information drawn from company-issued press releases.
Greenway Greenhouse Cannabis reported Q2 2024 financial results with net revenue of $1,806,957, marking a 52% increase from Q2 2023. Six-month revenue grew 78% to $4,201,116. The company's MillRite brand maintained its #2 position in pre-rolls, with a 71% increase in units sold quarter-over-quarter. Cannabis wholesale prices improved to $1.22 per gram from $0.84. Despite positive revenue growth, the company reported negative Adjusted EBITDA of $253,010. Total volume sold increased 21% to 1,484 kilograms, with an average cash cost per gram of $1.00.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) has surpassed 30,000 KG of cannabis product sold since its inception, highlighting the company's growth and market demand. CEO Jamie D'Alimonte emphasized Greenway's strategic positioning in the evolving cannabis industry, noting they have quadrupled growing capacity and are prepared for further expansion if demand continues to rise.
The company also reported results from its recent Annual General Meeting, where shareholders re-elected Jamie D'Alimonte, Carl Mastronardi, Dennis Staudt, and Marty Komsa as Directors. MNP was reappointed as auditors, and the company's rolling stock option plan was approved. President Carl Mastronardi expressed gratitude for shareholder support and anticipates significant company developments in the coming year.
Greenway Greenhouse Cannabis (CSE: GWAY, OTCQB: GWAYF) reported record-breaking financial results for Q1 2024 ended June 30. Highlights include:
- Net revenue of $2,394,159, up 104% year-over-year
- Positive Adjusted EBITDA of $316,431, compared to $16,408 in Q1 2023
- Positive net cash flow from operations of $55,418
- 2,153,628 grams of cannabis sold, a 94% increase year-over-year
- Average cash cost per gram of $0.73
The company attributes its success to quality cannabis production, strategic partnerships, and efficient operations. Greenway's MillRite pre-rolls ranked second in sales for their category in Ontario, and the company completed its first harvest for international markets.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) reported its audited annual financial statements for the year ended March 31, 2024. Key highlights include:
- Total grams sold increased 33% to 5,548,692
- Net revenue decreased 7% to $5,230,194
- Q4 net revenue increased 9% year-over-year to $1,482,194
- Average cash cost per gram of $0.74, within management's target
- Liabilities decreased 59% to $1,390,240
- Closed $3,500,000 private placement
- Launched first consumer products in Ontario
The company noted challenging market conditions but saw prices rebound in Q4. Greenway is expanding into international cannabis and domestic consumer markets to diversify revenue streams and increase value per gram produced.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) announced the launch of Pink Moon, a new product in their MillRite line, available in Ontario. Pink Moon will be offered in a 2 x 0.5 gram pre-roll format. MillRite is now the #2 ranked brand of pre-rolls in Ontario by total retail sales, and its Lavender Haze pre-rolls have achieved a similar ranking over the past three months. The addition of Pink Moon provides both Indica and Sativa options in the Ontario market. Greenway aims to capture a larger share of the cannabis market, which comprises over 60% of sales in the whole flower and pre-roll segments.
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