Tag: CHAL

CannabisNewsBreaks – Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) Positioned for Record 2021 Revenue

Chalice Brands (CSE: CHAL) (OTCQB: CHALF) is a consumer-driven cannabis company that recently announced the acquisition of a five-store retail chain (Homegrown Oregon). A Fundamental Research Corp. report initiated coverage for the company, issuing BUY rating and a fair value estimate of C$2.46. The report noted that Chalice Brands’ new management, which includes key team members from Fortune 25 companies, demonstrated their ability by significantly growing CHAL’s revenue and margins in 2020. “The report also pointed to CHAL’s 2020 revenues, which were $22 million, a 39% year-over-year increase through organic growth, as well as the fact that its Q4 2020 numbers noted positive EBITDA,” reads a recent article. “Another testimonial for the team is that all of their stores have very good customer ratings. We are expecting record revenue in 2021, driven by organic growth and the recent acquisition. We are expecting a bump in valuations of U.S. cannabis players as the sector moves closer to federal legalization.”

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About Chalice Brands Ltd.

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution, and retail, with 12 dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Chalice Brands operates nationally through Fifth and Root and has operations in Oregon and California. Visit https://Investors.ChaliceBrandsLtd.com for regular updates.

NOTE TO INVESTORS: The latest news and updates relating to CHALF are available in the company’s newsroom at https://cnw.fm/CHALF

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — Cannabis Boom Revives Storefronts, Factories; Brings Jobs to Michigan

Before the state of Michigan legalized marijuana, various areas in the Southwest were filled with empty storefronts and warehouses. However, the plant’s legalization brought with it marijuana-industry investors into the state who were looking for locations to process and grow plants, as well as establish dispensaries.

City leaders in southwest Michigan state that the marijuana industry has brought more than 10 years’ worth of redevelopment to the area, adding that even more projects are scheduled to begin in the next year or so. In the last two years alone, the sum investment in equipment and buildings in Buchanan and Niles has surpassed $50 million, with the cities noting that more than 250 new employment opportunities have been created in each city. Additionally, taxes collected by the state from cannabis businesses in the area have been allocated to different communities.

Thus far, there are nearly a dozen provisioning/dispensing centers in Edwardsburg, Buchanan and Niles, with plans to launch more, including micro-businesses. In addition to this, there are more than 10 growing operations in the Galien, Eau Claire, Benton Harbour, Buchanan and Niles Townships, with more planned.

Apart from the willingness of local officials to consider cannabis businesses, investors are also interested in the area because of the many available empty buildings that can be turned into facilities to cultivate, process and pack marijuana or establish dispensaries. Other investors have also been attracted to the abandoned storefronts in Buchanan and Niles, planning to turn them into adult-use and medical dispensaries, providing convenience for consumers from Indiana as well as other locations.

Officials are hopeful that the investments and employment opportunities will continue to increase in the near future as the marijuana market develops further in Buchanan, Niles and other areas. The development of the marijuana market throughout the state is also facilitating the entrance of new businesses such as Biggby Coffee and Culver’s, as foot traffic increases.

Earlier in March, the state’s Department of Treasury announced that it would be dispensing $10 million to more than a hundred counties and municipalities as part of the taxes gathered on recreational cannabis sold in the state. Department officials added that roughly $24 million would be divided evenly between the Michigan transportation fund and K-12 education.

Most of the buildings that have been occupied by marijuana retailers and cultivators might have otherwise been torn down. For instance, the Simplicity plant, which covers roughly 750,000 square feet and is currently being restored for use by marijuana processors and cultivators, was due to be torn down.

The economic benefits that cannabis firms bring to Michigan can be viewed as a microcosm of what is happening in all states where legal marijuana markets exist and entities like Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) are allowed to operate.

NOTE TO INVESTORS: The latest news and updates relating to Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) are available in the company’s newsroom at https://cnw.fm/CHALF

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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