Welcome to our dedicated page for Cannara Biotech news (Ticker: LOVFF), a resource for investors and traders seeking the latest updates and insights on Cannara Biotech stock.
Cannara Biotech Inc. (LOVFF) provides investors and industry observers with essential updates through this centralized news hub. Track the vertically integrated cannabis producer's latest press releases, financial results, and operational developments in Quebec's regulated market.
This resource aggregates official announcements including quarterly earnings, production expansions, and regulatory compliance milestones. Users gain timely access to strategic partnerships, product innovations, and market positioning updates from Canada's cannabis sector.
Maintain informed perspectives on LOVFF's premium cannabis cultivation and derivative product development through primary source materials. The curated collection enables efficient tracking of operational efficiency improvements and quality assurance initiatives central to the company's vertically integrated model.
Bookmark this page for streamlined monitoring of Cannara Biotech's progress in balancing premium-grade output with cost-effective production. Verify all information through original documents while staying current with material developments affecting this cannabis industry participant.
Cannara Biotech Inc. (TSXV: LOVE, OTCQB: LOVFF, FRA: 8CB), a major player in the cannabis industry, is set to host a webcast investor presentation on May 4, 2023, at 2:00 PM ET. The presentation, led by CFO Nicholas Sosiak, will outline key aspects of Cannara's operations. Following the presentation, there will be a Q&A session for investors to engage directly. To participate, interested parties should pre-register via the provided link. Cannara operates two large facilities in Québec, totaling over 1,650,000 sq. ft., capable of producing up to 120,000 kg of cannabis per year, taking advantage of the region's low electricity costs.
Cannara Biotech Inc. reported strong fiscal second quarter 2023 results, with net revenues of $13 million, reflecting a 76% increase year-over-year. For the first half of 2023, revenues reached $23.4 million, up 67%. The company achieved positive Adjusted EBITDA of $3.2 million, a remarkable 1500% increase compared to Q2 2022. Gross profit before adjustments was $4 million for the quarter, with a 54% increase year-over-year. Significant operational expansion includes the activation of additional growing zones, boosting total production capacity to an annual estimate of 27,000 kg. With a solid working capital of $25.6 million, the company is positioned for further growth in the Canadian cannabis market.
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