GOODNESS GROWTH HLDGS INC - GDNSF STOCK NEWS

Goodness Growth Holdings announced a third amendment to its credit facility with Chicago Atlantic Admin, allowing access to an additional delayed draw term loan of up to $55 million. This funding will be allocated for working capital, corporate purposes, and expansion in New York. The loan matures on April 30, 2023, with a potential extension for an additional fee of $1,375,000. The interest rate is tied to the U.S. prime rate plus 10.375%, with a minimum rate of 13.375% per annum. Goodness Growth operates in eight markets and manages 18 dispensaries across the U.S.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) launched its new line of cannabis-infused HiColor™ gummies in Maryland. Available in three formulations—10 mg THC, 10:10 CBD:THC, and 5:5 CBD:THC—and five flavors, these vegan and gluten-free gummies cater to diverse consumer needs. Following an exclusive debut in November, they will be sold at Goodness Growth's Green Goods® locations and licensed dispensaries. The company aims to expand HiColor to New York and Minnesota, where cannabis-infused edibles will be permitted starting August 2022.

Goodness Growth Holdings, Inc. (CSE: GDNS; OTCQX: GDNSF) has announced the successful acquisition of Charm City Medicus, a medical cannabis dispensary in Baltimore, Maryland, for $8 million. This includes $4 million in cash, $2 million in stock, and a $2 million promissory note. The Maryland Medical Cannabis Commission approved the transfer of the dispensary license, which will be rebranded as Green Goods Baltimore. Goodness Growth now operates 18 dispensaries across the U.S. and aims to expand its market share in Maryland's cannabis sector.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) has concluded the divestiture of its Phoenix dispensary license and related assets in an all-cash transaction worth $15 million. This agreement enables the company to streamline operations and enhance profitability in the Arizona wholesale cannabis market. The deal includes cultivation licenses, facilitating continued cannabis product sales through Copperstate Farms under a five-year management services agreement, extendable for up to 20 years. Chairman Kyle Kingsley emphasized focusing on growth opportunities in other states like New York and Maryland.

Goodness Growth Holdings reported its third quarter financial results for the period ending September 30, 2021. Revenue reached $13.4 million, a 7.2% increase year-over-year, but was affected by adverse weather in Arizona that damaged outdoor crops. The gross profit margin decreased slightly to 38.3%. Operating expenses rose 24.6% to $8.1 million. The net loss for Q3 2021 was $6.2 million, a shift from a net income of $3 million in Q3 2020. The company anticipates revenues in 2022 to range between $100 and $120 million, with an adjusted EBITDA of $20 to $30 million.

Goodness Growth Holdings, Inc. (CSE: GDNS; OTCQX: GDNSF) announced a $15 million cash transaction to sell its Phoenix dispensary license and related assets to Copperstate Farms, pending regulatory approval. The deal includes all inventory, equipment, and revenue-producing contracts. Goodness Growth aims to streamline its operations, focusing on opportunities in other markets like New York and Minnesota. Additionally, the transaction retains their cultivation capabilities through a five-year management services agreement, extendable up to 20 years.

Goodness Growth Holdings, a science-focused cannabis company, will report its third quarter financial results on November 10, 2021, before market opening. The results will cover the period ending September 30, 2021. A conference call and webcast to discuss these results will take place at 8:30 a.m. Eastern Time on the same day. Interested attendees can register here. Goodness Growth is also noted for its subsidiaries, including Vireo Health, and its operations span across eight markets in the U.S.

Goodness Growth Holdings, Inc. (CSE: GDNS; OTCQX: GDNSF) announced that its subsidiary, Vireo Health, will launch whole flower cannabis products starting October 30 at three dispensaries in New York and via home delivery. Grown at the company's facility in Johnstown, NY, the initial strain will be OG Kush, with more expected by year's end. The Cannabis Control Board allowed dispensaries to sell these products, which could reduce patient costs by up to 50%. Whole flower products will be available in 3.5-gram and 7-gram containers, certified kosher.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) launched its new cannabis brand, Kings & Queens, on October 15, 2021. The brand features a range of cannabis concentrates, including live and cured resin badder, budder, sugar, and sauce. Following a successful soft launch on October 1, where initial stock sold out in one day, the brand aims to offer high-THC products at competitive prices, nearly 20% lower than average in Maryland. Future expansions will include 'diamonds' concentrates and market entries in Arizona next month.