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Cannara Biotech Inc - LOVFF STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cannara Biotech's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cannara Biotech's position in the market.

Rhea-AI Summary
Cannara Biotech Inc. reported record Q1 net revenues of $19.5 million, representing an 89% increase compared to the previous year. The company also achieved an operating income of $3.4 million, a 201% increase, and delivered an eleventh consecutive quarter of positive Adjusted EBITDA of $5.2 million. Q1 net income was $2.1 million, compared to $2,951 in Q1 2023. All financial results are reported in Canadian dollars. Cannara is a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities in Quebec.
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Cannara Biotech Inc. (LOVE) has retained Independent Trading Group to provide market making services in accordance with TSX Venture Exchange policies. ITG will trade the securities of the Company on the TSXV for the purpose of maintaining an orderly market. The Company will pay ITG a monthly fee of $6,000 from the Company's available cash for a minimum term of one month and renewable for successive one-month terms thereafter. The services provided by ITG will commence on January 8, 2024.
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Cannara Biotech Inc. (LOVE) will host its annual general meeting of shareholders on January 25th, 2024. The company seeks approval for the extension of the expiry date of 3,723,800 options by two years, including 3,503,500 options issued to insiders. Shareholders will also be asked to approve the rolling employee stock option plan and restricted share unit plan.
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Cannara Biotech Inc. (LOVE) to host webcast investor presentation on December 14th, 2023. CFO Nicholas Sosiak to cover key areas of business. Investors can pre-register to listen and ask questions.
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Cannara Biotech Inc. (LOVE) reported Q4 and year end net revenues of $18.3 million and $57.6 million, showing a 53% and 60% increase compared to the same periods of 2022. Sequentially, Q4 showed significant growth over Q3 2023 with higher net revenues by 15%, operating income by 36%, Adjusted EBITDA by 26%, and net income by 58%. The company delivered a tenth consecutive quarter of positive Adjusted EBITDA of $4.9 million and generated a record quarterly net income of $4.6 million. All financial results are reported in Canadian dollars.
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Cannara Biotech Inc. reports strong financial results for Q3 2023, with significant increases in net revenue, gross profit, EBITDA, and net income. The company achieved a 50% increase in production capacity and increased market share in Quebec and Ontario. The response in the consumer market for their premium cannabis products has been tremendous.
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Cannara Biotech Inc. secures an additional $10 million in non-dilutive capital with its lead credit provider, BMO Commercial Banking
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Cannara Biotech Inc

OTC:LOVFF

LOVFF Rankings

LOVFF Stock Data

59.85M
45.34M
49.42%
Medicinal and Botanical Manufacturing
Manufacturing
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Canada
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