Streetbeat News

NVACF

Nova Cannabis Inc

https://ysscorp.ca

Industry

Bituminous Coal and Lignite Surface Mining

Open

1.27

Mkt cap

78M

Volume

8.4K

High

1.30

P/E Ratio

31.60

52-wk high

1.31

Low

1.26

Div yield

N/A

52-wk low

1.25

SNDL Inc. has completed its acquisition of Nova Cannabis, securing full ownership and enhancing its position in the Canadian cannabis market. The deal, valued at $37 million, offers Nova shareholders a cash option or SNDL shares, with most opting for cash. This acquisition is expected to streamline SNDL's operations and reduce costs, potentially boosting shareholder value.

Portfolio Pulse from Patricio Liddle

October 21, 2024 | 4:13 pm

Nova Cannabis shareholders have approved the acquisition by SNDL Inc., where SNDL will acquire all Nova shares for either cash or SNDL shares. The deal, valued at approximately $29.1 million, aims to enhance SNDL's cannabis retail portfolio and generate cost savings. The acquisition is expected to close by October 18, 2024, pending court approval.

Portfolio Pulse from Jelena Martinovic

October 17, 2024 | 2:01 pm

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) is outperforming its peers in the cannabis capital providers and mortgage REIT sectors due to its premium valuation, high dividend yield, and robust growth track record. REFI trades at a 3% premium to its book value and offers a 12.2% dividend yield, supported by a solid dividend coverage ratio and special cash dividends. Despite an increase in leverage, REFI maintains a conservative risk profile and a strong growth track record, making it an attractive investment.

Portfolio Pulse from Nicolás Jose Rodriguez

July 05, 2024 | 3:02 pm

SNDL Inc. and Nova Cannabis Inc. have announced a strategic realignment of their retail operations, with SNDL transferring four Dutch Love cannabis retail stores to Nova. The deal involves Nova issuing SNDL CA$8.179 million in shares and is expected to be completed by the end of April 2024, pending regulatory approvals. This move will increase Nova's store count to 100 and SNDL's to 190. Additionally, SNDL has extended a $15 million revolving credit facility to Nova until March 31, 2026, to support Nova's growth.

Portfolio Pulse from Patricio Liddle

April 03, 2024 | 8:57 pm

High Tide Inc. (HITI) has signed an agreement with the Manitoba Liquor and Lotteries Corporation to distribute cannabis products in Manitoba through its subsidiary Valiant Distribution Canada. This deal enhances High Tide's distribution capabilities in Canada, adding to its presence in Saskatchewan, the United States, and Europe. High Tide, recognized by ATB Capital Markets as one of the top cannabis retailers in North America, continues to expand its footprint. The company's strategic expansion and positive financial indicators, such as generating positive free cash flow and trading at low multiples, position it as a leader in the cannabis retail sector.

Portfolio Pulse from Jelena Martinovic

February 14, 2024 | 7:02 pm

ATB Capital Markets highlights deep-value opportunities in Canadian cannabis small-cap stocks, emphasizing overlooked companies like High Tide Inc (HITI) and Nova Cannabis Inc (NVACF) for their positive free cash flow and low trading multiples. The sector is expected to grow despite challenges, with a 10.9% increase forecasted for 2024 and a 9.2% CAGR through 2031. Retailers are predicted to outperform LPs due to scale advantages. Decibel Cannabis Co Inc. (DBCCF) and SNDL Inc (SNDL) are also noted for their market positions and valuations.

Portfolio Pulse from Joana Scopel

December 13, 2023 | 10:22 pm

Nova Cannabis Inc., Indivior PLC, and NewLake Capital Partners have released their Q3 2023 financial results. Nova Cannabis reported record revenue and gross margin growth, with shares trading up 12.65%. Indivior reported strong financial performance led by Sublocade growth, despite shares trading down 8.84%. NewLake Capital Partners reported financial results in line with expectations, with shares trading up 1.94%.

Portfolio Pulse from Joana Scopel

November 10, 2023 | 2:47 am

Nova Cannabis Inc. (OTCQB:NVACF) (TSX:NOVC) reported its first quarter of positive net earnings since inception, with Q2 2023 revenue of $64.0 million, a 13.7% increase YoY and a 6% increase from Q1 2023. The company also reported a gross profit of $14.6 million, net earnings of $1.0 million, and adjusted EBITDA of $5.5 million. Nova's revolving credit facility with SNDL has been fully drawn and extended to August 25, 2023.

Portfolio Pulse from Vuk Zdinjak

August 10, 2023 | 1:25 pm

SNDL Inc. and Nova Cannabis Inc. have announced a further extension of the closing date for their strategic partnership due to continued review by a provincial regulator. The transaction is now expected to close on or before August 25, 2023, subject to regulatory approval and mutually satisfactory amendments to certain terms. The maturity date of Nova's revolving credit facility with SNDL has also been extended to the same date.

Portfolio Pulse from Vuk Zdinjak

July 25, 2023 | 12:14 pm

SNDL Inc. and Nova Cannabis Inc. have announced an extension to the closing date of their strategic partnership due to ongoing regulatory review. The transaction is now expected to close on or before July 25, 2023. All pre-closing conditions have been met except for certain key regulatory approvals. The maturity date of Nova's revolving credit facility with SNDL has also been extended to July 25, 2023.

Portfolio Pulse from Vuk Zdinjak

July 03, 2023 | 12:18 pm

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