CANN Stock Recent News

GREEN COVE SPRINGS, Fla., Sept. 03, 2024 (GLOBE NEWSWIRE) -- MDWerks, Inc. (“MDWerks” or the “Company”) (OTC: MDWK), a forward-thinking company leading the charge in the world of sustainable technology, today announced that its award-winning Two Trees Beverage Company (“Two Trees”) subsidiary has retained Green Glass Global, a leading independent wine and spirits broker, to place Two Trees ® and Tim Smith Spirits ® branded products in front of key purchasing decisionmakers nationwide, including at major on- and off-premise chains, independent direct buyers, and an expanded group of distributors.

The U.S. Drug Enforcement Administration (DEA) announced a delay on Monday in its final ruling on cannabis rescheduling until after the November presidential election. The decision, which has created uncertainty in the market, pits Vice President Kamala Harris, a cannabis reform advocate, against former President Donald Trump, whose vice-presidential pick is opposed to legalization.

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Four lesser-valued cannabis stocks showed positive performance on Monday, defying the broader sector's downtrend. These stocks—, , , and —present potential investment opportunities. Positive Performers Among Smaller Cannabis Stocks Medical Marijuana Inc. MJNA, priced at $0.0021, has total assets of $72.775 million but faces financial challenges, including a net income loss of $280.475 million and an EBITDA of -$268.242 million. MJNA maintains a gross profit margin of 79.95%. TILT Holdings TLLTF, trading at $0.035, has total assets of $231.188 million and reported revenue of $165.956 million over the last twelve months. However, with a net income loss of $62.384 million and an EBITDA of -$22.018 million, TILT's profitability is under pressure. Its gross profit margin stands at 9.54%. Trees Corp. CANN, at $0.1 per share, lists total assets of $23.247 million. Despite a negative tangible book value per share and a net income loss of $7.082 million, Trees Corp. maintains a gross profit

Trees Corporation (NEO:TREE.AQN) told investors that it is looking for alternatives to create shareholder value after 420 Investments Ltd unilaterally terminated a previously announced business combination agreement between the two companies. In a statement, the Canadian cannabis company said its board of directors intends to undertake a comprehensive review to identify and consider a range of alternatives and their potential to enhance shareholder value.

Canadian cannabis seller Trees Corporation (NEO:TREE.AQN) has unveiled record quarterly financial results, for the period ending June 30, 2023. It reported, in a statement on Friday, an all-time high revenue of C$4.05 million, marking a 106% increase from the same period in 2022 and a 47% surge from the preceding quarter.

Trees Corporation (NEO:TREE.AQN) said it has entered into an agreement with Calgary-based retail cannabis business 420 Investments to amalgamate through a reverse takeover of the company by 420 (FOUR20).  "We are very pleased to have navigated towards a partner in FOUR20 where together we will be well positioned to leverage our exceptional retail team, national presence and strong balance sheet towards the creation of significant shareholder value for both Trees and FOUR20 shareholders alike,” Trees CFO Jeff Holmgren said.

Trees Corporation (NEO:TREE.AQN) has reported corporate retail sales of $11.5 million during the 15-month period ending on March 31, 2023, with system-wide sales reaching $16.6 million. Notably, the company said there was 20% growth in corporate same-store retail sales for the three months leading up to March 31, 2023, compared to the same period in 2022.

Trees Corporation (NEO:TREE.AQN) said it has closed a financing round to fund the opening of its next cannabis store location. The non-brokered private placement consisted of 745 units at a price of $1,000 per unit for gross proceeds of approximately $745,000.

Trees Corporation (NEO:TREE.AQN) has announced record third-quarter 2022 sales and system-wide sales of $2.5 million and $3.7 million, respectively, along with 40% year-over-year growth in same-store corporate sales. The Canadian cannabis company said it has increased revenues in the quarter by 60% from the first quarter of 2022, while its total gross profit rose 78% over the same period due to a strengthening retail gross profit margin percentage, which averaged 32% in 3Q compared to 28% in the first quarter of 2022.