Streetbeat News

DLTNF

Delta 9 Cannabis Inc

https://www.delta9.ca/

Industry

All Other Miscellaneous Store Retailers (except Tobacco Stores)

Open

0.01

Mkt cap

1.4M

Volume

60K

High

0.01

P/E Ratio

-0.11

52-wk high

0.05

Low

0.01

Div yield

N/A

52-wk low

0.01

Delta 9 Cannabis Inc. has obtained creditor protection under the CCAA due to aggressive actions by SNDL Inc., which acquired Delta 9's senior secured debt. SNDL's strategy involves pressuring companies into bankruptcy to bid for their assets. FIKA Company has agreed to act as a plan sponsor for Delta 9's CCAA proceedings, proposing to acquire certain assets and provide interim financing.

Portfolio Pulse from Jelena Martinovic

July 16, 2024 | 3:35 pm

Delta 9 Cannabis Inc. reported a slight decrease in Q1 2024 revenue but saw a 10% increase in gross profit. Despite operational losses, the company achieved a positive adjusted EBITDA. Shares traded slightly higher post-announcement.

Portfolio Pulse from Jelena Martinovic

May 16, 2024 | 12:41 pm

Delta 9 Cannabis Inc. (OTC:DLTNF) reported a net loss of $3.4 million for Q2 2022, a significant increase from the $0.8 million loss in the same quarter last year. However, the company's net revenue grew by 4% year-on-year to CAD $17.5 million, and sequentially surged by 40% from the preceding quarter. The company's CEO highlighted growth opportunities, nationwide retail expansion, and strategic M&A pursuits supported by a solid balance sheet.

Portfolio Pulse from Nicolás Jose Rodriguez

August 14, 2023 | 11:16 pm

Delta 9 Cannabis Inc. (OTC:DLTNF) (TSX:DN) plans to expand its distribution and cross-docking business in Manitoba due to changes in wholesale distribution regulations by Manitoba Liquor & Lotteries Corporation. The new regulations, effective from July 31, 2023, will improve lead times for cannabis shipments and allow the company to bring additional cannabis inventory from third-party suppliers into the province. The company expects to increase its revenues from this new growth segment and shorten lead times for deliveries to 3 – 5 business days.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:31 pm

Several cannabis companies have announced leadership changes. The Hempshire Group and ZYUS Life Sciences Corp. reported board changes. Glass House Brands, MediPharm Labs Corp., Auxly Cannabis Group, and Delta 9 Cannabis Inc. announced results from their annual meetings, electing new board directors. Würk, Flora Growth Corp., Acreage Holdings, and Ally Biotech have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 05, 2023 | 5:25 pm

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