Very nice close with solid volume, 3.2mil, and closing at the high of the day, demand is high for the wise...the cakes still try to make a shite sandwich out of a gem like this pretty well tells it all. It is just like watching the Trump inquisition, with the socialists in the last throes of staging a failed 3yr coup d' etat attempt and they are still trying to sell it? When reality is many of them will probably be in jail a year from now as Trump starts his second term...the same will play out here with FIRE.
The re-up on the guidance is powerful medicine, along with $90mil in funding with A list terms...hardly failing!! BlissCo is starting to kick a little into the pot and we should be seeing some return from the Euro operations in the coming months as well. KK herb should be in the stocking for Christmas, hard to see any downside here at all.
Had to go out and try to get a little meat for the winter...nature is always where it's at, healthy, positive and beauty beyond belief especially when you can spend most days taking it all in. This is a great life and FIRE will improve the ability to enjoy it even more for those that own, JMHO....Opt
07:47 AM EST, 11/15/2019 (MT Newswires) -- Supreme Cannabis (FIRE.TO) reported Q1 2020 net loss of $16.5 million, $(0.05) per diluted share, missing a forecast loss of $(0.01) per share. The company reported a net loss of $5.38 million, $(0.02) per diluted share for Q1 2019.
Net revenue was $11.43 million, missing the $20.92 million that had been expected. Net revenue for the previous corresponding quarter was $5.14 million. Supreme Cannabis' subsidiary, 7ACRES, accounted for $10.5 million for the net revenue, with $0.9 million from Blissco.
The company confirms its financial outlook for FY 2020, with expected net revenue of between $150 million and $180 million.
Supreme has also entered into a credit agreement with Bank of Montreal as Lead Arranger and Agent on behalf of a group of lenders for $90 million of senior secured credit facilities consisting of a term loan of $70 million and a revolving credit facility of $20 million. The facility is secured against the assets of the company including the 7ACRES facility. Supreme has initially drawn $55 million of the term loan.