Grown Rogue has completed its previously announced upsized brokered private placement offering through the issuance of an aggregate of 21,056,890 special warrants at a price of $0.225 for aggregate gross proceeds of $4,737,800.
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Grown Rogue released its financial and operating results for the year ended October 31, 2020. Grown Rogue achieved positive Adjusted EBITDA for the year with Cash Margin for Grown Rogue products reaching 62%. Total Pro Forma revenue including results for our Michigan operation was $6.3M, with Pro Forma Adjusted EBITDA of $846K.
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Grown Rogue has signed a Definitive Agreement and Management Services Agreement with HSCP, a subsidiary of Acreage Holdings Inc., for a previously operational, state-of-the-art 30,000 Sq Ft indoor facility located in Medford, Oregon, and a fully operational retail dispensary in Portland, Oregon. The acquisition brings Grown Rogue’s total indoor capacity to 127,000 Sq Ft.
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Grown Rogue announced the appointment of Steve Lightman, Group President, Gourmet Foods & Gift Baskets, 1-800-FLOWERS.COM, Inc., as an independent director of Grown Rogue, effective immediately. Mr. Lightman’s appointment expands the board to 5 directors, 4 of whom are independent directors.
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Grown Rogue is pleased to announce investments in its subsidiaries for total proceeds of US$1,150,000.
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Grown Rogue is excited to announce the pending launch of its Certified Fresh Nitrogen Sealed Jars in Michigan, along with continued facility expansion in Michigan and Oregon.
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Grown Rogue has released its financial and operating results for the three months ended July 31, 2020. The Company’s business strategy focusing on supply chain efficiencies and higher margin product sales continues to pay dividends as Grown Rogue has achieved positive Adjusted EBITDA for the second consecutive quarter while also seeing an increase in average selling price (ASP) for its indoor flower.
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Grown Rogue announced a continued upward trend and record prices for its indoor flower in Oregon. Also, its Michigan partner Golden Harvests is averaging US$4,000/lb. in their first week of recreational sales versus US$3,000/lb. for medical. Additionally, the company announced the hiring of a Chief Accounting Officer (CAO) to place additional focus on financial efficiencies.
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