You read this week’s publication New Cannabis Ventures Weekly Newsletter we publish from October 2015. We no longer send them. By mail as before but we post this and all newsletters On our website hereA number
Friends,
On Friday, the S & P Dow Jones indicators announced that five shares will join the S & P / TSX composite index, including CURALAF. Since then, Curlf has earned 0.4%, rising a lot of Tuesday, but pulling yesterday. Not surprisingly, the company has a success in a press release on Monday morning, offering it to promote institutional property.
In late 2023, the Toronto Stock Exchange listed from the exchange of Canadian securities, where the market was originally entered. Terascend was the first to move to TSX, and the release moved to CAADA Conafe’s Curalaf transfer to TSX and which took place in 2023.
In two years or the way this MSOS has made their steps, no other MSOS followed. Considering that no other MSOS migrated to sleep from CSE because it did the same in the last 2023, probably doesn’t make it mean to do it. Of course, CSE has some challenges, but the bigger problem is that they are American companies. Where commercial problems are in the United States and not in Canada. Nothing against Canada but TSX list doesn’t actually change things. By the end of 2022 I called OTC as a Main potential catalystA number
In this newsletter of October 2023, I called it a waste of time To modernize TSX for American Cannabis. Looking at the price of prices, as this newsletter was published for the first degree and one of the second level, one of the nine MSOS gathered, and the rest decreased.
Readers should remember that the hemp section has decreased a lot in this moment, the NCV Global Cannabis stock index decreased by 16.6% to 6.90. The American Cannabis stock index decreased by 21.8%, and MSOS fell 34.0%. The average return of these 9 largest MSOS has even worse, but it greatly affects a murder, which has been suspended in Canada, but continues to trade on OTC.
Looking back, I would not conclude that trade exchange in Canada is generally important. One of the TSX listed shares did a little better than his peers, and one was bad. Much more than the Canadian listing drives drives the stock. I was shocked in June, when I was doing the quarterly redistribution of the Cannabis World Stock Index that the crankle was out due to insufficient trade. Only 3 MSOS qualified, resourceful and GTI and also glass home brands that trade in Canada (72.7% are increased from 10/30). In the past month, the volume of Curaleaf trade in Canada was 1,14 million shares, which is less than it trades on OTC. Perascend is 463k shares per year in the previous month, which is much less than an OTC average in one day 1 million shares. Looking at the other MSOS that trades on various exchanges in Canada, they have been a higher trade volume in OTC.
Kuralef and the tribe were so proud to discharge TSX in Canada two years ago, but it doesn’t really matter. How I used to say for several years now, what is 280e floor and OTC? I hope that 280 ends soon, but even if the hemp has resumed, there is no need to change the NASDAQ or NYSE about American hemp companies. I hope to change too.
Frankly,
Alan
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Based on the Houston, Alan cries out his experience as the founder of the online community 420 InvestorThe first and still the biggest decent diligent platform focused on the shares sold in the cannabis industry. Alan continues to find new ways to connect industry and facilitate its sustainable growth in the Canepuni community. Approximately New hemp enterprisesHe is responsible for content development and strategic alliances. Until the early 2013 focuses on the cannabis industry, Alan, who began his career in Wall Street, worked as more than two decades of research and portfolio. Article 650 of the Article 650 published in 2007 Looking for alphaWhere he has 70,000 followers, Alan is a frequent speaker for industry conferences and a Frequent source The media, including NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Ration | Facebook | Connection | Email
Illinois released sales figures for two months recently. The data was published for the last time at the end of January. The previous report was for Cannabis for adults in May. The November document explained that the lack of data was due to the Metrc transition. Here is the updated data as of the end of February.
The state’s adult cannabis sales fell 5.1% sequentially to $110.7 million in January and then fell 5.4% sequentially in February. Annual growth was -21.0% in January and 19.8% in February, a slight improvement from the last level. Here’s a chart of adult sales over time:
After growing 106% in 2021, 13% in 2022 and 5% in 2023, annual sales for adults are set to grow 5.4% to $1.72 billion in 2024. In 2025, they decreased by 12.5% and amounted to 1.51 billion dollars, which was lower than the total figure of 2022. Two months into 2026, sales for adults are down 20.4%.
There hasn’t been an update from the state on medical cannabis in a while. The state exempts the sale separately from its medical plan, and April issue showed that sales fell 1.6% sequentially to $19.7 million, down 13.2% year over year.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Michigan hemp sales for february decreased compared to a year ago, as they increased sequentially by 3.4%. Sales of $234.6 million decreased by 3.0% compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 38.6% year over year to $0.4 million, down 3.8% sequentially, and adult use sales down 3.0% year over year to $234.2 million, down 3.4% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For Adults – Use
Medical
As supply continues to expand, prices for adult flowers have plummeted. The average price of $945 a pound in January was up 1.3 percent sequentially from a record low in December and down 8.2 percent from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion In 2026, Michigan cannabis sales decreased by 5.7%.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
AWH Announces Fourth Quarter and Full Year 2025 Results
Q4 2025 and Q4 2025 revenue were $120.5 million and $500.6 million
Expanded adjusted EBITDA margin1 to 25.1% in 2025. in the fourth quarter and 23.4% in 2025. for the financial year.
Maintained strong liquidity with $85.7 million in cash and no significant short-term debt
The retail footprint grows to 48 locations as consolidation continues
NEW YORK, March 12, 2026. /PRNewswire/ – Ascend Wellness Holdings, Inc. (“AWH”, “Ascend” or the “Company”) (CSE: AAWH-U.CN) (OTCQX: AAWH), a multinational, vertically integrated cannabis operator, today reported its financial results for the quarter and year ended December 31, 2025. Financial results are presented in US dollars in all currencies and under GAAP.
Q4 & FY 2025 Business Highlights
Implemented a consolidation strategy throughout 2025, opening eight new dispensaries, expanding market presence and expanding retail footprint to 48 locations to date, including partner-owned and operated locations.
Ascend opened its first social capital partner store in Little Falls, New Jersey with Mister Jones, LLC in Q4 2025. The company has also been approved by the New Jersey Cannabis Regulatory Commission for a second Social Capital partner store, which will be located in Eatontown, New Jersey and is expected to begin operations in April 2026.
During the first quarter of 2026 (“Q1 2026”), AWH opened its sixth store in Ohio and an additional partner owned and operated in Illinois. In addition, the Company closed an unsuccessful store in Ann Arbor, Michigan.
The retail development pipeline includes 12 new sites, bringing the total number of Company-owned and partner-owned and -operated dispensaries to 60, pending regulatory approvals.
Developed and launched a record 566 SKUs in fiscal year 2025, including 146 in Q4 2025, exceeding the initial goal of 550 SKUs for the year, including;
Debut of two new brands: High Wired infused flower and Honor Roll high quality prenglers made with 100% flower.
Expanding formats, flavors and formulations across nearly all product lines, including Effin’ effects-based gummies and vapors, High Wired sugar caps and Simply Herb single-use vapors, with multiple new launches ranked among AWH’s best-selling SKUs for Q4 2025.
Ultra Limited Ozone King Edition of Ozone Liquid Diamonds and Queen Cola.
Quarter after quarter, in Q1 2026, AWH unveiled an extensive brand and quality transformation of its flagship lifestyle brand Ozone, featuring an updated visual identity, elevated product standards, innovative packaging and enhanced consumer engagement. The relaunch has begun in Illinois, Massachusetts, and New Jersey, with other major markets to follow in the coming quarters. The evolution of Ozone will see the launch of a number of new products, including the brand’s first full-spectrum gum, as well as new macrodose gum and additional flower and vapor offerings.
Retained a position among the top three brand houses by both sales and units in Illinois, Massachusetts and New Jersey3 combined through fiscal year 2025, reinforcing market leadership with an expanded portfolio of products and brands. Delivering a fully integrated e-commerce ecosystem that combines a redesigned shopping platform and app with AI-driven personalization, Ascend Pay payment functionality and an enhanced loyalty program, marking a major milestone in AWH’s customer-first strategy.
Sales through Ascend Pay increased 49.4% from the third quarter of 2025 (“Q3 2025”) to the fourth quarter of 2025, driven by a 51.5% increase in transactions and a 57.8% increase in units sold at retail locations owned and operated by Ascend and partners.
In the fourth quarter of 2025, total membership of the Ascenders Club loyalty program increased by 56%, and active members increased by 23.7% sequentially. Loyalty members accounted for 88% of retail transactions, up 16% at Ascend retail locations.
Strengthened capital structure by fully repaying the Company’s $60.0 million term loan through a $50.0 million private placement of 12.75% Senior Secured Notes4 due 2029 and $10.0 million in cash, completing its broader refinancing initiative in three quarters and with $9 million in secured assets in the 2025 quarter. competitive 8.5% interest rate maturing in September 2030 to support disciplined growth and retail expansion.
A common course issuer bid (“NCIB”) share buyback program (“Buyback Program”) has been successfully completed.
The Company has repurchased and retired approximately 15.8 million shares at an average price of $0.32 per share5 beginning in the fourth quarter of 2024, when the Purchase Program was initiated.
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