It’s time for your Daily Hit of cannabis financial news for September 24, 2020.
On The Site
KushCo Holdings, Inc. (OTCQX:KSHB) reported preliminary and unaudited financial results for its fiscal fourth quarter ended August 31, 2020 with revenue expected to be between approximately $25.5 million and $26.0 million, compared to approximately $22.3 million in its fiscal third-quarter 2020. The company noted that this would be an improvement from its previously disclosed guidance of between $24.0 million and $26.0 million. KushCo said that the 14% to 17% expected sequential increase in revenue is being driven primarily by an increase in sales to its top 100 customers, which consists of leading multi-state operators (MSOs), licensed producers (LPs), and brands.
Halo Labs Inc.(OTCQX: AGEEF) is acquiring 1265292 B.C. Ltd., otherwise known as Cannafeels, in exchange for common shares of Halo. The deal is valued at $6.5 million and is expected to close on or about October 15. Cannafeels is a software company developing an online application to provide consumers with relevant, web-sourced, and curated information about cannabis strains. The App is currently being developed for both the North American recreational market, as well as the UK and select EU medical cannabis markets.
Mindleap Health, a subsidiary of Mydecine Innovations Group Inc. (OTC:MYCOF) has launched a digital health platform that combines telehealth with mood, emotion, and habit tracking. Starting with psychedelic integration, the Mindleap platform will bring mental health specialists online, enabling a new era of digital mental health and wellness. The company said that later this year it will add other types of mental health specialists such as addiction and holistic wellness specialists.
In Other News
C21 Investments Inc. (OTCQB: CXXIF) announced unaudited results for its second quarter ended July 31, 2020. Revenue for the second quarter was $9.4 million, an increase of 15% from Q1. The company reported