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Delta 9 Cannabis Inc DLTNF

Delta 9 Cannabis Inc. is a Canada-based vertically integrated cannabis company. The Company operates through three segments: Wholesale Cannabis, Retail Cannabis and Merchandise and Devices, and Business to Business. The Company sells cannabis products through its wholesale and retail sales channels and sells its cannabis growing pods to other businesses. Its cannabis products include dried cannabis and pre-rolled joints. Its edibles and vapes include vape pens and concentrates, edibles, and drinkables. The Company, through its wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis products and operates a 95,000-square-foot Health Canada licensed production facility in Winnipeg, Manitoba, Canada. It also owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. It is focused on producing and selling cannabis oils, extracts, and derivative products.


GREY:DLTNF - Post by User

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Post by gnote1on May 21, 2020 10:25am
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Post# 31055851

From Stockwatch

From Stockwatch

 

Globe says Delta 9 Cannabis raised to "speculative buy"

 

2020-05-21 08:10 ET - In the News

 

The Globe and Mail reports in its Thursday, May 21, edition that Delta 9 Cannabis, having achieved profitability, was upgraded to "speculative buy" from "hold" by Canaccord Genuity analyst Kimberly Hedlin. The Globe's David Leeder writes in the Eye On Equities column that Ms. Hedlin boosted her share target to 75 cents from 60 cents. Analysts on average target the shares $1.05. Ms. Hedlin says in a note: "With revenues of $11.8-million, Delta 9's first quarter results represented an inflection into positive EBITDA and operating cash flows, driven by pricing improvements and strong Grow Pod sales. We believe a pipeline of Grow Pod projects will continue to boost revenues over the next couple of quarters while retail store growth should provide a conduit for wholesale distribution over the coming 24 months. ... In our view, key upcoming catalysts include provincial distribution agreements in Ontario, additional retail locations in AB and MB, and new Grow Pod projects in both Canada and the U.S. In our view, with manageable debt levels ($20-million maturing in two to more than 10 years), Delta 9 has no major near-term balance sheet concerns that should act as an overhang on the stock."

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