CANNARA BIOTECH INC - LOVFF STOCK NEWS

Cannara Biotech (TSXV: LOVE) (OTCQB: LOVFF) has announced an upcoming investor webcast scheduled for Thursday, December 19th, 2024, at 2:00 PM ET. The company, a vertically integrated cannabis producer operating two mega facilities in Quebec with over 1,650,000 sq. ft. of space, will feature CFO Nicholas Sosiak presenting key financial and operational results for the fiscal year ended August 31, 2024.

The presentation will be followed by an interactive Q&A session where investors can engage directly with management. Pre-registration is required through the provided Zoom webinar link, and an archived version of the webcast and presentation will be available on Cannara's investor relations website.

Cannara Biotech reported strong financial results for Q4 and FY2024, with record total revenues of $23.4M in Q4 (28% YoY increase) and $82.2M for FY2024 (43% YoY increase). The company achieved its 14th consecutive quarter of positive Adjusted EBITDA at $3.7M. Operating cash flow surged 81% YoY to $10.7M, while free cash flow reached $3.2M. The company captured 3.2% national market share and 11.9% in Québec, ranking 3rd in the province. Plans include activating two additional Valleyfield grow zones in FY2025, adding 50,000 square feet of canopy to reach an estimated annual cannabis production of 40,000 kg.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) has achieved its highest national market share of 3.2% in July 2024, positioning it as the 9th largest licensed cannabis producer in Canada. The company reported an approximate 11.8% market share in Quebec, marking its highest monthly national retail sales to date. Cannara operates two mega facilities in Quebec, spanning over 1,650,000 sq. ft., and focuses on producing premium-grade cannabis and derivative products at affordable prices.

The company will host a live investor webcast on August 20, 2024, at 2:00 PM ET, where CFO Nicholas Sosiak will present Q3 2024 financial results and discuss future growth strategies. Investors can pre-register for the webcast and participate in a Q&A session.

Cannara Biotech (TSXV: LOVE, OTCQB: LOVFF) reported financial results for Q3 2024, showcasing impressive growth in revenues but a decline in profitability. Gross cannabis revenues rose 27.6% to $26.2 million, up from $20.6 million in Q3 2023. Total revenues, net of excise taxes, reached $19.5 million, marking a 22.6% increase. However, gross profit before fair value adjustments fell 6.1% to $5.7 million, with profitability impacted by cultivation changes. Despite industry price compression, Cannara reported its thirteenth consecutive quarter of positive Adjusted EBITDA at $2.8 million and net income of $2.0 million. Operating income stood at $3.6 million, buoyed by a $2 million gain from the sale of unused land.

Operational highlights include entering the Manitoba market, launching new genetics, and expanding in Quebec. Financial highlights show increased free cash flow to $1.2 million and earnings per share at $0.02. The company continues to invest in sales and marketing to capture more market share.

Cannara Biotech Inc. reported a significant increase in net revenue and gross profit in Q2 2024, showcasing positive financial growth. The company achieved a twelfth consecutive quarter of positive Adjusted EBITDA, indicating strong operational performance. Despite facing some challenges, including a net loss primarily due to non-cash fair value changes, Cannara remains focused on expanding its market presence and improving financial stability.

Cannara Biotech Inc. reported record Q1 net revenues of $19.5 million, representing an 89% increase compared to the previous year. The company also achieved an operating income of $3.4 million, a 201% increase, and delivered an eleventh consecutive quarter of positive Adjusted EBITDA of $5.2 million. Q1 net income was $2.1 million, compared to $2,951 in Q1 2023. All financial results are reported in Canadian dollars. Cannara is a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities in Quebec.

Cannara Biotech Inc. (LOVE) has retained Independent Trading Group to provide market making services in accordance with TSX Venture Exchange policies. ITG will trade the securities of the Company on the TSXV for the purpose of maintaining an orderly market. The Company will pay ITG a monthly fee of $6,000 from the Company's available cash for a minimum term of one month and renewable for successive one-month terms thereafter. The services provided by ITG will commence on January 8, 2024.

Cannara Biotech Inc. (LOVE) will host its annual general meeting of shareholders on January 25th, 2024. The company seeks approval for the extension of the expiry date of 3,723,800 options by two years, including 3,503,500 options issued to insiders. Shareholders will also be asked to approve the rolling employee stock option plan and restricted share unit plan.

Cannara Biotech Inc. (LOVE) to host webcast investor presentation on December 14th, 2023. CFO Nicholas Sosiak to cover key areas of business. Investors can pre-register to listen and ask questions.