Welcome to our dedicated page for Humble & Fume news (Ticker: HUMBF), a resource for investors and traders seeking the latest updates and insights on Humble & Fume stock.
Humble & Fume Inc. is a prominent North American distributor specializing in cannabis and cannabis accessories. With a strong focus on customer satisfaction, the company acts as a comprehensive cannabis distribution solution, catering to retailers, licensed producers, and consumers. Leveraging over two decades of experience, Humble boasts robust vendor and customer relationships, distributing top-tier cannabis products and consumption devices.
The recent investments from Green Acre Capital Distribution Corp. have further solidified Humble's position in the market, particularly in expanding its operations throughout the United States, notably California. The strategic investments and joint venture with HCI reflect Humble's commitment to growth and innovation in the cannabis industry.
CEO Jakob Ripshtein's emphasis on operational excellence and strategic partnerships has propelled Humble's success. With a dedicated team and a resilient operational framework, the company continues to drive sustainable growth and deliver value to stakeholders.
Humble & Fume Inc. announced a leadership transition with Jakob Ripshtein becoming the Chief Executive Officer effective January 13, 2023. He takes over from Joel Toguri, who left to pursue other career opportunities. Ripshtein, with over 30 years of experience in the cannabis industry, previously led Aphria Inc. and Diageo Canada. He aims to strengthen brand partnerships and expand the company's distribution network in North America. The company is a major cannabis and accessories distributor, leveraging data-driven insights and a robust fulfillment infrastructure.
Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) announced the appointment of Matthew Mackay as the new Chief Financial Officer, effective December 5, 2022. Mackay replaces Graham Meneray, who is leaving to pursue other opportunities. CEO Joel Toguri expressed confidence in Mackay's experience in the cannabis and beverage alcohol industries, emphasizing growth initiatives. Mackay is a Chartered Financial Analyst with a degree in Business Administration and Finance from Brock University.
Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) announced the voting results from its 2022 Annual General Meeting held on November 30, 2022. Five nominees were elected to the Board of Directors, including Mark Hubler and Shawn Dym, with voting percentages ranging from 72.89% to 99.28%. MNP LLP was reappointed as auditors with 99.91% approval. The detailed voting results are available on www.sedar.com. Humble & Fume remains a prominent North American distributor of cannabis products, committed to enhancing partner businesses.
Humble & Fume Inc. (CSE: HMBL, OTCQX: HUMBF) reported strong Q1 2023 results, ending September 30, with California cannabis distribution revenue surging 68% quarter-over-quarter. The North American accessories business also saw an 11% revenue increase. Operational expenses fell by 21%, largely due to a 44% reduction in accessory costs. Additionally, inventory levels decreased, with a 10% drop quarter-over-quarter. The retail customer base expanded by 258%, and deliveries soared 370%. CEO Joel Toguri emphasized ongoing growth and the impact of restructuring initiatives on profitability.
Humble & Fume Inc. (CSE: HMBL, OTCQX: HUMBF) has appointed Charlie Cangialosi as the VP of Commercial for California, to enhance its expansion efforts in the U.S. market. Cangialosi brings over 20 years of experience in sales and operations, previously serving as COO at Old Pal. His background includes leadership roles at Kiva Confections and MillerCoors, bridging expertise in cannabis and beverage alcohol. Humble aims to dominate the California cannabis distribution sector through Cangialosi's insights into market strategies and regulations.
Humble & Fume Inc. announced Green Acre Capital's US$6 million investment in their Joint Venture (JV), increasing Green Acre's ownership to 45%. This funding aims to accelerate cannabis distribution operations in California, a market valued at approximately US$4.4 billion. Green Acre's investment originates from an option agreement with Johnson Brothers, a major beverage distributor. The JV is part of Humble's strategy to enhance sales capabilities and build relationships with leading cannabis brands, focusing on sustainable profitability.
Humble & Fume Inc. (OTCQX: HUMBF) has secured a $2 million revolving credit facility to boost its financial flexibility and support business growth. CEO Joel Toguri emphasized the company's strong liquidity with no debt, positioning it well to implement its strategic plans. Alongside the credit facility, Humble issued 750,000 warrants, each allowing the purchase of common shares at $0.25 per share for three years. The funds will be used for working capital requirements, and details will be filed on SEDAR.
Humble & Fume Inc. (CSE: HMBL, OTCQX: HUMBF) announced an exclusive distribution agreement with leading cannabis brand Cookies, strengthening its position in California's cannabis market. This strategic partnership aims to enhance the scale of Cookies products throughout the state, reflecting Humble's aggressive growth strategy. Sales and marketing efforts will focus on multi-channel advertising and a dedicated brand ambassador team. CEO Joel Toguri emphasized the importance of partnering with top-tier brands to drive growth, highlighting Cookies' recognition as a leading cannabis brand.
Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) announced the voting results from its 2021 Annual General Meeting held on June 29, 2022. Mark Hubler was elected to the Board of Directors with 99.72% support, bringing significant experience from his role as President and CEO of Johnson Brothers. Other board nominees also received strong support, with voting percentages above 97%. Audit firm MNP LLP was reappointed as auditors with 99.56% approval. This leadership change aims to enhance the company's strategic direction in the cannabis distribution market.
Humble & Fume Inc. (OTCQX: HUMBF) reported Q3 2022 financial results, with revenues decreasing to $16 million, down 4% from the previous quarter. Despite this, gross margins improved by 6% to 20%, and operating expenses fell by 18%. The company is expanding cannabis distribution in California, partnering with leading brands for an anticipated annual revenue contribution of $25-$35 million starting in Q4. Management emphasized a focus on profitability and business optimization amidst a strategic review.
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