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.
CannaPharmaRX (OTC PINK:CPMD) provides updates on its Alberta cannabis facility operations and international expansion plans. The facility features 10 growing rooms, each producing approximately 130kg per harvest cycle (95kg premium flowers, 35kg trim). Currently operating four rooms with a fifth planned for December, the company projects monthly production of 210kg flowers and 77kg trim. Products are priced at 1.9-2.2 CAD/gram for flowers and 0.1-0.2 CAD/gram for trim, targeting monthly revenue of 430,000 CAD. International expansion includes planned shipments to Israel and potential European market entry. The company plans to launch branded products in late 2025, aiming for prices up to 3 CAD/gram.
CannaPharmaRx (OTC PINK:CPMD) reports continued progress at its Cremona, Alberta facility with uninterrupted cannabis cultivation despite CEO Dean Medwid's resignation in September. The company has completed two shipments to Israel and is preparing a third shipment of approximately 300 kg at CAD 2.10 per gram. An additional 250 kg order for Israel is scheduled for delivery this quarter. CannaPharmaRx expects regular orders and shipments throughout 2025, projecting significant revenue growth. The company is also in preliminary discussions with European companies to expand its international distribution network.
CannaPharmaRx (OTC PINK:CPMD) has received three purchase orders for a total of 600KG of cannabis from Cantek Holdings, an Israeli leader in medical cannabis processing and distribution. The company has begun delivering product, with the first 150KG shipment already sold out in Israel. CannaPharmaRx's Cremona facility produces over 1000 KG of high-quality cannabis quarterly, with regular harvests of about 100KG every two to three weeks.
The company has completed fifteen grows and is preparing additional inventory for shipment. Future orders are expected once or twice monthly. CannaPharmaRx plans to expand its market reach to Europe and Latin America in Q4 2024, capitalizing on its recent successes and strategic positioning in major global cannabis markets.
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.
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.
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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