Welcome to our dedicated page for GABY news (Ticker: GABLF), a resource for investors and traders seeking the latest updates and insights on GABY stock.
GABY Inc. (OTC: GABLF | CSE: GABY) provides centralized access to official corporate communications during its operational wind-down. This resource aggregates material developments including financial restructuring progress, leadership changes, and strategic evaluations of its CBD business units.
Investors will find verified updates regarding:
• Corporate restructuring milestones
• Regulatory filings and compliance matters
• CBD brand viability assessments
• Exchange compliance updates
All content derives from authorized company disclosures and regulatory submissions. For historical context, the page maintains records of past press releases detailing the California license impairment and subsequent foreclosure agreements.
Bookmark this page for direct access to GABY's evolving corporate narrative. Cross-reference announcements with SEDAR filings using provided documentation links. Contact investor relations at IR@GABYinc.com for clarification on published materials.
GABY Inc. (CSE:GABY)(OTC:GABLF), a cannabis dispensary consolidator based in California, has announced a settlement agreement with Miramar Professional Services to restructure its debt. The agreement includes an amended and restated promissory note that reduces the outstanding principal by US$3 million and lowers the interest rate for the next two years, resulting in interest savings of US$2.3 million. The repayment schedule has been extended, with final payment due on April 30, 2029. GABY will also issue 1.5 million warrants to the vendors, exercisable over three years at various prices. This restructuring supports GABY's operational and financial stability as it continues to grow both organically and through acquisitions.
GABY Inc. (CSE:GABY, OTCQB:GABLF) reported Q3 2022 revenue of $5.4 million, a 4% increase from Q2 2022, but a 20% decline year-over-year. Gross margin rose to 46%, reflecting improved operational efficiencies despite challenges in California's cannabis market. The company recorded a net loss of $3.8 million, influenced by a $1.9 million non-cash foreign exchange loss. Deliveries increased, serving 9,360 customers. Management is focused on expanding proprietary brands, which yield higher margins.
GABY Inc. (OTCQB:GABLF) reported $5.2 million in revenue for Q2 2022, down 26% year-over-year, primarily due to the discontinuation of its wholesale business. Despite this, gross margins improved to 43% from 35% in Q2 2021. The company achieved a 11% reduction in SG&A expenses and noted that its branded products now account for 15% of sales in its retail outlet. A net loss of $3.0 million included a significant foreign exchange loss. Management remains focused on cost management and expects improved revenues for the latter half of 2022 as market conditions stabilize.
GABY Inc. (CSE:GABY) (OTCQB:GABLF) announced the appointment of Glenn Solomon QC to its Board of Directors on July 14, 2022. He replaces Loreto Grimaldi, who stepped down on July 13, 2022. Solomon, an established lawyer and businessperson with significant accolades, is expected to enhance GABY's governance. With experience in corporate and commercial litigation, he aims to add value to the company. GABY operates the Mankind Dispensary and focuses on cannabis retail consolidation in California.
