The cannabis industry is buzzing with significant developments from key players. High Tide, one of Canada’s largest cannabis retailers, is preparing to release its latest financial results while simultaneously expanding its retail presence and loyalty program. High Tide will host a webcast on September 17th to discuss its third-quarter financial results, which are expected to be released on September 16th. The company’s recent expansion includes a new Canna Cabana retail cannabis store in Mississauga, Ontario, marking its 182nd location across Canada. This comes on the heels of its Cabana Club loyalty program surpassing 1.5 million members, signifying significant growth in customer engagement.
Meanwhile, POSaBIT Systems, a cannabis fintech company, is gearing up for a conference call on August 27th to discuss its second-quarter financial results. POSaBIT has been making strides in the market, reporting a 23% growth in its core payments and point-of-sale business in 2023. Despite some challenges earlier in 2024, the company has announced that it is now poised for long-term profitability and growth driven by licensing contracts, improved margins, and a restructured cost base.
RIV Capital, a cannabis investment company, will report its second-quarter financial results on August 28th. The company’s recent merger with Cansortium Inc., a multi-state cannabis operator, has created a combined entity with a significant footprint in the U.S. market. This merger aims to leverage both companies’ strengths in cultivation, operating expertise, and inventory optimization to drive growth and profitability for shareholders. RIV Capital is encouraging shareholder participation in its upcoming annual general and special meeting on August 23rd.
These recent developments highlight the dynamic nature of the cannabis industry, with companies continuing to innovate, expand, and consolidate their positions in the market. The growth in retail operations, fintech solutions, and strategic partnerships underscores the industry’s ongoing transformation and its potential for continued success.
