Grindrod Shipping Holdings Ltd. Ordinary Shares - GRIN STOCK NEWS

Grown Rogue International (CSE: GRIN, OTC: GRUSF) has signed a Definitive Agreement with HSCP for a 30,000 Sq Ft indoor facility and a retail dispensary in Oregon. This acquisition boosts Grown Rogue's total capacity to 127,000 Sq Ft and aims to generate $20M USD annually, with $10M expected from wholesale sales and another $10M from a Michigan partner. The deal, valued at $3M USD, enhances production efficiency, lowering cash costs to $0.80 USD/gram. Grown Rogue anticipates $2.5M USD in revenue from the new facility in 2021 and an additional $1M USD from retail sales.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) has signed the Neptune Declaration on Seafarer Wellbeing and Crew Change, addressing the shipping industry's crew change crisis exacerbated by the pandemic. The declaration emphasizes four key aims: recognizing seafarers as key workers, implementing high-standard health protocols, enhancing collaboration for crew changes, and ensuring airline connectivity for seafarers. CEO Martyn Wade highlighted the importance of seafarers' contributions during the pandemic and expressed commitment to improving the maritime supply chain's resilience.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) announced the appointment of Steve Lightman as an independent director. This expansion increases the board to five members, with four being independent. Lightman brings over 30 years of experience across retail, consumer products, and agriculture, having led digital transformations at 1-800-FLOWERS.COM and previously served as CEO of major companies. The CEO emphasized Lightman's expertise will aid Grown Rogue's continued growth in the cannabis market in Oregon and Michigan.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) announced investment commitments totaling US$400,000 in a non-brokered private placement, executed in two tranches. The first tranche raised approximately US$200,000, issuing 2,031,784 shares at CDN $0.125. The second tranche will also aim for US$200,000, priced at either CDN $0.125 or a higher market price. Additionally, Golden Harvests issued a $250,000 promissory note for facility expansion in Michigan, with terms including 10% interest and share issuance. The funds will support option payments and corporate needs.

Grindrod Shipping (NASDAQ: GRIN) announced a significant sale and leaseback transaction on December 22, 2020, selling the medium-range product tanker Matuku for $26.8 million. The cash proceeds will help repay $10 million of its Senior Secured Credit Facility, lowering net interest expenses. Additionally, the company expects to receive the eco ultramax drybulk carrier IVS Atsugi on December 23, which will enhance its fleet focused on operational efficiency. The CEO hailed these moves as part of their strategy to leverage relationships in Japan.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced an extension of the charter-in period for its supramax drybulk vessel IVS Pinehurst for 11 to 13 months starting November 15, 2020. This extension allows the company to maintain its operational capacity in the drybulk sector while retaining the option to extend the charter further and a purchase option at a fixed price. This strategic decision is aimed at enhancing Grindrod's fleet utilization and market positioning amidst ongoing demands in maritime transportation.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) has announced the successful sale of the 2009-built handysize drybulk vessel IVS Triview for approximately $7.85 million. This transaction involves a joint venture where Grindrod holds a 51% stake. The vessel was delivered to its new owners on November 2, 2020. Following this sale, the joint venture will wind up, enabling the return of shareholder capital after liabilities are settled. With this transaction, Grindrod Shipping reports that it no longer has any owned vessels in unconsolidated joint ventures.

Grindrod Shipping (NASDAQ: GRIN) reported its first half 2020 earnings, showing revenues of $167.1 million and a gross profit of $8.9 million, a 51% increase compared to last year. Adjusted EBITDA nearly doubled to $28.8 million. However, the company experienced a loss of $10.5 million due to $4.2 million in impairment losses on vessel sales. Average TCE per day for Handysize was $5,773, and for Supramax/Ultramax, it was $9,163. The firm consolidated IVS Bulk results and reported solid operational metrics despite pandemic challenges.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) will release its financial results for the first half of 2020 on August 27, 2020, after market close. A conference call is scheduled for August 28, 2020, at 8:00 a.m. EDT to discuss these results. Grindrod operates a diverse fleet of drybulk vessels and product tankers, including 17 handysize and 14 supramax/ultramax carriers. The company is based in Singapore, with additional offices in global locations. 2020 will see new vessels being delivered, enhancing their operational capabilities.