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Good Morning and Happy Monday! Nicolás Rodríguez and Patricio Liddle here, kicking off your week with the latest news in cannabis: Cansortium’s (OTC: CNTMF) impressive 12% revenue surge and upcoming merger with RIV Capital (OTC: CNPOF), plus strategic plays by High Tide (NASDAQ: HITI) and POSaBIT Systems (OTC: POSAF). These financial moves are key to driving shareholder value, keeping you ahead of the curve and ready to seize new opportunities.

Sunny Surge In The Sunshine State

Cansortium Inc. reported a 12% revenue increase for Q2 2024, reaching $27.3 million, despite intense competition in Florida. CEO Robert Beasley credits manufacturing efficiencies and cultivation yields for the strong performance. The upcoming merger with RIV Capital will create a multi-state operator covering 25% of the U.S. population, expected to close in Q4 2024.

Key Financial Highlights:

• Revenue: Up 12% YoY to $27.3 million.

• Adjusted EBITDA: Increased to $7.7 million from $6.8 million.

• Net Income: $947,000 compared to a net loss of $5.35 million in Q2 2023.

• Gross Profit: Jumped to $20.6 million from $12.16 million.

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Market Moves: High Tide, POSaBIT And RIV Capital

High Tide is set to release Q3 results on September 16, with the company continuing its expansion and loyalty program growth. POSaBIT Systems will discuss its Q2 results, focusing on long-term profitability. RIV Capital, Cansortium's merger partner, will report Q2 and H1 2024 results on August 28, showing significant year-over-year improvement ahead of the merger.

Minnesota’s Cannabis Market: Locals vs. Out-of-Staters

Minnesota's cannabis market is heating up, but out-of-state applicants are muscling in, sparking fears local entrepreneurs might be left behind. With no residency requirements and fierce competition, staying ahead will be a challenge.

Ohio’s Cannabis Boom Threatens Michigan’s Market

Ohio's booming cannabis sales are drawing buyers away from Michigan, putting its dispensaries at risk. With Ohio's market rapidly expanding, Michigan’s cannabis industry could see a significant drop in out-of-state customers and revenue. The rivalry just got real.

Stories In The Spotlight:

• Can THC Turn Back The Clock? Cannabis Reverses Brain Aging, Boosts Mental Capacity, New Study Suggests

• Making Money In Weed: Three Cannabis Operators Get Millions To Expand In Florida, Missouri & Georgia

• Social Equity In Cannabis Gets $27M Boost In MA, But Will Federal Changes Leave Some Behind?

Our Writers Today

Nicolás holds a B.A. in International Relations, an M.A. in International Affairs, and an M.Phil in Public Policy. He is a doctoral student in Public and Urban Policy at The New School in New York City. After working for the United Nations in 2014, Nico pivoted his research to studying the relationship between the cannabis industry and economic development.

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over fifty years of drug prohibition. Beyond his professional expertise, Patricio is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

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