Welcome to our dedicated page for GREENWAY GRENHSE CANNABIS news (Ticker: GWAYF), a resource for investors and traders seeking the latest updates and insights on GREENWAY GRENHSE CANNABIS stock.
Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator based in Kingsville, Ontario, focusing on producing high-quality greenhouse cannabis products for the Canadian market. The company recently shipped its first consumer packaged good, the MillRite branded Lavender Haze pre-rolls, to the Ontario Cannabis Store. With a commitment to quality and consumer satisfaction, Greenway aims to be a trusted choice in the cannabis industry.
Expanding its product portfolio, Greenway has introduced the EPIC Berry Sunset and Pink Moon products, catering to a diverse range of consumer preferences. The company has also taken steps to attain CUMS-GAP and GACP certification, enabling it to distribute its products internationally. With a strong focus on quality, innovation, and international growth, Greenway is poised to become a leading cultivator in Canada's cannabis market.
Greenway Greenhouse Cannabis (GWAYF) has announced the expansion of its Ontario product line with two new MillRite SKUs. The company is introducing a new 10x0.35g pre-roll SKU of Lavender Haze, building on the success of their 2x0.5g pre-rolls which ranked #2 in brand and SKUs since launch.
Additionally, Greenway is entering the milled flower market with a new 14g Blue Crush SKU under the MillRite brand, positioned as an 'all flower, no filler' premium quality option at milled-flower prices. The company has also issued 295,792 common shares at $0.30 per share to Abingdon Capital as payment for corporate-finance advisory services.
Greenway Greenhouse Cannabis (GWAYF) reported significant growth in 2024, achieving record revenue of $2.394m in Q1 FY2025 and its first positive cash flow from operations. The company expanded its grow space by 40% compared to 2023, resulting in a 48% increase in total grams sold and 52% revenue growth.
Key achievements include surpassing 20,000 and 30,000 KG cannabis sales milestones, launching MillRite and EPIC Cannabis Co brands in the Canadian recreational market, and obtaining CUMS-GAP and GACP certifications for international sales. MillRite has become the #2 selling brand of pre-rolls in its size segment. The company also acquired Choice Growers' CPG brands, which have generated millions in revenue since 2022.
On December 31, 2024, Greenway issued 150,000 common shares at $0.35 per share from Convertible Debentures issued in October 2023.
Greenway Greenhouse Cannabis (CSE: GWAY, OTCQB: GWAYF) has announced the acquisition of Choice Growers Cannabis Inc.'s consumer packaged goods brands through an asset purchase agreement dated December 17, 2024. The deal includes all CPG brands, SKUs, listings, trademarks, and associated intellectual property.
The purchase consideration consists of existing debt owed by Choice Growers to Greenway and a six-year royalty payment structure based on Net Revenue. The acquired portfolio includes popular cannabis brands such as Grapefruit God Bud, The Jeffrey, Watermelon Pebbles, Pink Lemonade, Duke Nukem, Tangerine Dream, and Blackberry Cheesecake.
This marks Greenway's first brand acquisition from another licensed cannabis producer, aimed at expanding their CPG presence in the Canadian cannabis market and reaching a broader national audience.
Greenway Greenhouse Cannabis reported Q2 2024 financial results with net revenue of $1,806,957, marking a 52% increase from Q2 2023. Six-month revenue grew 78% to $4,201,116. The company's MillRite brand maintained its #2 position in pre-rolls, with a 71% increase in units sold quarter-over-quarter. Cannabis wholesale prices improved to $1.22 per gram from $0.84. Despite positive revenue growth, the company reported negative Adjusted EBITDA of $253,010. Total volume sold increased 21% to 1,484 kilograms, with an average cash cost per gram of $1.00.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) has surpassed 30,000 KG of cannabis product sold since its inception, highlighting the company's growth and market demand. CEO Jamie D'Alimonte emphasized Greenway's strategic positioning in the evolving cannabis industry, noting they have quadrupled growing capacity and are prepared for further expansion if demand continues to rise.
The company also reported results from its recent Annual General Meeting, where shareholders re-elected Jamie D'Alimonte, Carl Mastronardi, Dennis Staudt, and Marty Komsa as Directors. MNP was reappointed as auditors, and the company's rolling stock option plan was approved. President Carl Mastronardi expressed gratitude for shareholder support and anticipates significant company developments in the coming year.
Greenway Greenhouse Cannabis (CSE: GWAY, OTCQB: GWAYF) reported record-breaking financial results for Q1 2024 ended June 30. Highlights include:
- Net revenue of $2,394,159, up 104% year-over-year
- Positive Adjusted EBITDA of $316,431, compared to $16,408 in Q1 2023
- Positive net cash flow from operations of $55,418
- 2,153,628 grams of cannabis sold, a 94% increase year-over-year
- Average cash cost per gram of $0.73
The company attributes its success to quality cannabis production, strategic partnerships, and efficient operations. Greenway's MillRite pre-rolls ranked second in sales for their category in Ontario, and the company completed its first harvest for international markets.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) reported its audited annual financial statements for the year ended March 31, 2024. Key highlights include:
- Total grams sold increased 33% to 5,548,692
- Net revenue decreased 7% to $5,230,194
- Q4 net revenue increased 9% year-over-year to $1,482,194
- Average cash cost per gram of $0.74, within management's target
- Liabilities decreased 59% to $1,390,240
- Closed $3,500,000 private placement
- Launched first consumer products in Ontario
The company noted challenging market conditions but saw prices rebound in Q4. Greenway is expanding into international cannabis and domestic consumer markets to diversify revenue streams and increase value per gram produced.
Greenway Greenhouse Cannabis (CSE: GWAY) (OTCQB: GWAYF) announced the launch of Pink Moon, a new product in their MillRite line, available in Ontario. Pink Moon will be offered in a 2 x 0.5 gram pre-roll format. MillRite is now the #2 ranked brand of pre-rolls in Ontario by total retail sales, and its Lavender Haze pre-rolls have achieved a similar ranking over the past three months. The addition of Pink Moon provides both Indica and Sativa options in the Ontario market. Greenway aims to capture a larger share of the cannabis market, which comprises over 60% of sales in the whole flower and pre-roll segments.
FAQ
What is the current stock price of GREENWAY GRENHSE CANNABIS (GWAYF)?
What is the market cap of GREENWAY GRENHSE CANNABIS (GWAYF)?
Where is Greenway Greenhouse Cannabis Corporation based?
What products has Greenway recently launched?
What certifications has Greenway obtained for its cultivation facility?
What is Greenway's focus in the cannabis market?
How does Greenway differentiate itself in the cannabis industry?
What is Greenway's recent milestone in product distribution?
What is Greenway's vision for its international sales?
How can consumers access Greenway's products?
What is Greenway's expansion strategy?
Where can I find more information about Greenway Greenhouse Cannabis Corporation?
