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Canadian cannabis firm High Tide splits with CFO, refiles financial statements

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MJ Biz report

Calgary, Alberta-based cannabis firm High Tide and Chief Financial Officer Rahim Kanji have mutually agreed to part ways.

Kanji’s departure is effective Feb. 28, according to a news release.

High Tide is appointing Sergio Patino as interim CFO, effective Feb. 28.

Patino joined the Canadian company last year as a financial consultant.

The marijuana and CBD retailer also said it refiled its audited financial statements for the fiscal years 2021 and 2022 after uncovering a series of errors.

The company said it does not consider the errors to be material but refilled the documents in the interest of full disclosure.

For instance, High Tide cited “typing errors” for erroneously reporting total assets in its retail segment.

High Tide corrected the figure to read “$241,394,” in thousands of Canadian dollars, as of Oct. 31, 2022.

Some other errors erroneously disclosed forecasted growth of revenue for several of the company’s e-commerce units, including Smoke Cartel and Blessed CBD, which High Tide acquired in 2021 for $8 million and $12.4 million, respectfully.

The company also refiled its management discussion and analysis (MD&A) filing to correct “typographical errors.”

High Tide said the changes “have no material impact on the company’s revenues, earnings or financial position. All other information, including numbers and totals, contained in the Amended Annual Financial Statements and Amended MD&A remains unchanged.”

The corrected financial statements are available here.

Read more

https://mjbizdaily.com/cannabis-firm-high-tide-splits-with-cfo-refiles-financial-statements/



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Massachusetts: Office of the Inspector General Publishes Press Release Re Appointing A Receiver To Manage State’s Cannabis Commission

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Independent journalist Grant Smith Ellis  writes today to linked in

Press release from Massachusetts Inspector General confirms that a decision in June of 2024, by three CCC Commissioners, to strip the powers of acting agency Executive Director Debbie Hilton-Creek led to today’s emergency hearing request on Beacon Hill.

 



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Movie Time In Oregon. Special Screening of Frenchy Dreams of Hashish

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CHEECHABLE & OG EMPIRE PRESENT:

A SPECIAL 7/10 with FRENCHY CANNOLI! We are pleased to announce a special screening and Oregon premier of the movie Frenchy Dreams of Hashish, a documentary by Jake Remington. Frenchy Dreams of Hashish showcases master hashishin Frenchy Cannoli’s lifelong pursuit of perfect hashish and highlights the ethos of sustainable, sun-grown cannabis. Join us as we celebrate the art of making hash and honor the late master, Frenchy Cannoli. Get your tickets here!

 



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Curaleaf Start Process Of Getting Their Claws Into The UK’s National Health System – With Former MP (Resigned Today 30/5/24) As The Front Man

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It’ll take a while but the business plan to get Curaleaf products available via the NHS starts here…and the front man is  now former Conservative MP George Freeman

See the press release dated 28 May (scroll down)  about his involvement and and what a surprise

30 May 2024

George Freeman is no longer a Member, but was most recently the Conservative MP for Mid Norfolk, and left the Commons on 30 May 2024.

https://members.parliament.uk/member/4020/career

 

 

 

Positioned at the heart of the life sciences sector, the Cannabinoid Research & Development Group UK is a new research strategy group led by academics, researchers, clinicians, patients and industry.

The group will propel scientific research and development of pharmaceutical cannabinoid-related products in the UK.

Our ambition is to develop and implement a comprehensive strategy to transform the UK into the global leader in cannabinoid research and medicine development.

We will build a robust ecosystem by integrating universities, research institutions, investors, businesses, and the NHS – driving innovation and development, nurturing top talent and fostering advances in healthcare.

 

 



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