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Medical cannabis company IM Cannabis Corp. (CSE:IMCC) (NASDAQ:IMCC), with operations in Israel and Germany, will report operational and financial results for the second quarter of 2024 ended June 30, 2024, on Wednesday, Aug. 14, 2024.
The company said it will host a Zoom web conference on the same day at 9:00 am ET to discuss the results, followed by a question-and-answer session for the investment community.
The company announced a major share consolidation plan last month. Its board of directors approved a consolidation of its issued and outstanding common shares under which every six pre-consolidated common shares will convert into one post-consolidated share. The strategic decision reduced its outstanding shares from 13,394,136 to 2,232,357, making the stock more attractive to institutional investors and improving liquidity.
IMCC’s shares were trading 7.14% higher at $3 per share at the time of the writing on Tuesday.
cbdMD, Inc. (NYSE: YCBD) said it will host a conference call at 4:20 pm ET on Wednesday, Aug. 14, 2024, to discuss the company’s June 30, 2024 third quarter of fiscal 2024 financial results and business progress.
In May, the company reported an increase in operational losses from $1.4 million in the second quarter of fiscal 2023 to $1.5 million in the second quarter of fiscal 2024. Yet the management remained optimistic. “Transformation is not always linear, and while our second fiscal quarter 2024 results fell short of our ambitions, we believe the operational changes we’ve enacted are set to propel us forward,” Ronan Kennedy, CEO & CFO of cbdMD said at the time.
cbdMD added implementing cost-cutting measures projected to save approximately $2.4 million annually by August, including staff reductions, renegotiated vendor contracts and consolidation operations to save $0.6 million per quarter.
cbdMD’s shares were trading 1.80% lower at 54 cents per share at the time of the writing on Tuesday.
Canadian cannabis producer and distributor Entourage Health Corp. (TSXV:ENTG) (OTCQX:ETRGF) (FSE:4WE) its second quarter 2024 financial results will be released after market close on Monday, Aug. 26, 2024. The company will host a conference call to discuss the results and provide an operational update and recap of achievements on Tuesday, Aug. 27, 2024.
The Toronto-based company reported in May a total revenue of CA$16.4 million ($12 million) (net revenue of CA$12.7 million for the first quarter of fiscal 2024, before excise duties and discounts), representing a 9% year-over-year increase. George Scorsis, the company’s chair and CEO said at the time the company's first-quarter results are "a testament to our robust financial health and strategic approach to business operations, positioning us for success throughout 2024.”
ETRGF shares were trading 35.45% lower at $0.0071 per share at the time of the writing on Tuesday.
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), the parent company of Organigram Inc. will report earnings results for its third quarter fiscal 2024 ended June 30, 2024, on Tuesday, Aug. 13, 2024 before market open. The company will host a conference call to discuss its results with details the same day at 8:00 am ET.
This past May, the company reported net revenue of CA$37.63 million ($27.53 million) in the second quarter, compared to CA$39.5 million in the same period of last year. Later that month, Organigram announced its second international medical cannabis customer in the UK, Avida Medical, full-service medical cannabis and specials medicines manufacturing business.
In June, the company announced a strategic investment aimed at expanding its presence within the burgeoning European cannabis market. The Toronto-based company will utilize proceeds from its Jupiter strategic investment pool and invest €14 million ($15 million) initially. The sum includes €11.5 million via an unsecured convertible note and €2.5 million to purchase equity interests from existing Sanity Group founders and shareholders providing Organigram with a minority stake in Berlin-based cannabis company Sanity Group GmbH.
Additionally, the company said it will advance another €3 million as a second tranche of the unsecured convertible note for future opportunities to be pursued by Sanity subject to the satisfaction of certain conditions.
OGI shares were trading 5.24% higher at $1.505 per share at the time of the writing on Tuesday.
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