Urban-Gro, Inc. Stock Price, News & Analysis

XS Financial has successfully completed a private placement of unsecured convertible notes, raising US$43.5 million. The financing, led by a large institutional investor, will primarily support capital expenditure financing for U.S. cannabis operators. US$33.5 million is funded at closing, with US$10 million available until June 30, 2022. XS Financial's pipeline exceeds US$100 million in CAPEX financing demand. Interest on the notes accrues at rates of 9.5% and 8% upon a potential NASDAQ listing. The proceeds will enhance XS Financial's capacity to support growing customer needs in the cannabis sector.

urban-gro, Inc. (Nasdaq: UGRO) announced the appointment of Sonia Lo to its Board of Directors, enhancing its leadership in the Controlled Environment Agriculture (CEA) sector. Lo, who previously served as CEO of Sensei Ag and Crop One Holdings, brings over 20 years of expertise in agriculture and technology. CEO Bradley Nattrass expressed excitement about her contributions towards expanding urban-gro's global presence. Lo emphasized the importance of optimal unit-level economics in CEA and stated that urban-gro is uniquely positioned to improve product quality while managing costs.

urban-gro (Nasdaq: UGRO) will report its third-quarter financial results for the period ending September 30, 2021, after market close on November 09, 2021. An audio webcast and conference call will take place at 4:30 PM ET the same day, featuring operational highlights and a Q&A session. Interested parties unable to attend can access a replay until November 23, 2021. urban-gro specializes in Controlled Environment Agriculture and aims to optimize cultivation facilities.

urban-gro (Nasdaq: UGRO) has partnered with XS Financial to launch a Financial Services division, aimed at providing CAPEX financing solutions for clients in the indoor Controlled Environment Agriculture (CEA) market. This strategic deal enhances purchasing power with leading horticulture manufacturers and broadens market reach within the cannabis industry. Both companies have a proven track record in financing equipment purchases for multi-state operators, ensuring a robust service offering for their clients.

XS Financial has partnered with urban-gro to offer CAPEX leasing solutions to the cannabis sector. This strategic alliance will provide urban-gro's customers with financing options while enhancing XS Financial's reach within the indoor CEA market. With a solid track record in financing for cannabis operators, both companies aim to improve clients' purchasing power and streamline supply chains. XS Financial continues expanding its capital markets access, having syndicated over $5.7M USD of existing leases.

urban-gro (Nasdaq: UGRO), a leader in Controlled Environment Agriculture, will participate in five key conferences in October 2021. Events include NECANN New Jersey on October 2-3, Alliance Global Partners Virtual Conference on October 5, LD Micro Main Event (virtual and in-person) on October 12-14, Benzinga Cannabis Capital Conference on October 14, and MJBizCon in Las Vegas from October 20-22. CEO Bradley Nattrass will address advancements in the cannabis sector, reflecting urban-gro's expertise and leadership in efficient cultivation systems.

urban-gro (Nasdaq: UGRO), a leader in Controlled Environment Agriculture, will showcase its advancements at three major events: the H.C. Wainwright 23rd Annual Global Investment Conference from Sept. 13-15, NYC AgTech Week 2021 on Sept. 23, and GreenTech from Sept. 28-30. CEO Bradley Nattrass will share insights on the global CEA industry at Wainwright and GreenTech. Additionally, Jim Dennedy, President and COO, will discuss capital raising at AgTech Week. These events highlight urban-gro's commitment to expanding in the cannabis and food-focused vertical farming sectors.

urban-gro (Nasdaq: UGRO) reported record Q2 2021 revenues of $12.8 million, a 220% increase year-over-year, and is now profitable with net income of $1.3 million. This marks the first positive net income in the company's 8-year history. The company has achieved positive Adjusted EBITDA for the fourth consecutive quarter and increased its project backlog to $27.9 million. Full year revenue guidance is set between $54 to $59 million. The acquisition of MJ12 Design Studio positions urban-gro as an industry leader in integrated services.

urban-gro, Inc. (Nasdaq: UGRO) has announced changes to its upcoming 2Q21 conference call, now scheduled for August 11, 2021, at 4:15 PM ET. The call will feature prepared remarks and a Q&A session focusing on the company’s operational and financial highlights. Interested parties can participate via phone or through a live audio webcast (webcast link). For those unable to attend, a replay will be available until August 25, 2021 by dialing the provided numbers and entering the passcode.