DENVER and TORONTO, April 30, 2021 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or the “Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, today announced its financial and operating results for its fourth quarter and fiscal year ended December 31, 2020. All amounts are expressed in Canadian dollars unless otherwise indicated.
MJardin Group Announces Final Settlement of Remaining Cheyenne Sale Proceeds from Harvest; and Provides Update on Timing of Release of 2020 Financials
DENVER and TORONTO, April 29, 2021 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or the “Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, today announced that it has reached an agreement with Harvest Health & Recreation Inc. (“Harvest”) (CSE: HARV, OTCQX:HRVSF) for final settlement and reduction of the previously disclosed final payment relating to the December 2019 sale of MJardin’s Cheyenne facility to Harvest (the “Transaction”) for the amount of US$4.25 million.
MJardin Group Completes its First Shipment of Recreational Cannabis to the Province of Alberta
TORONTO, Ontario, March 29, 2021 - MJardin Group, Inc. (CSE: MJAR) (the “Company” or “MJardin”), a leader in premium cannabis production, today announced that it has made its first shipment of recreational cannabis to the province of Alberta.
The initial shipment includes Flint & Embers Hyperion, MJardin’s unique take on the GSC x Conspiracy Kush cultivar, Flint & Embers Orion, MJardin’s unique take on the Whiteberry cultivar, BLLRDR Afghani Bullrider and BLLRDR Wedding Cake.
Alberta has been able to transition to the legal cannabis market at an accelerated rate. With nearly half the legal cannabis stores in the country, Alberta has captured the second-highest sales of legal cannabis in Canada (Statistics Canada, 2021), overtaking British Columbia, and second only to Ontario.
MJardin Announces Standing Offer Agreement with Alberta Gaming, Liquor and Cannabis
BLLRDR and Flint & Embers prepare to launch across Alberta.
TORONTO, Ontario, January 27, 2021 - MJardin Group, Inc. (CSE: MJAR) (the “Company” or “MJardin”), a leader in premium cannabis production, today announced that it has been registered to sell cannabis through Alberta Gaming, Liquor and Cannabis (“AGLC”), and has entered into a standing offer agreement with AGLC for the sale of its premium high-quality cannabis in the Alberta market, under the Flint & Embers and BLLRDR brands.
AGLC is responsible for regulating private retail cannabis, the distribution of cannabis and operation of Alberta's only legal online cannabis store, AlbertaCannabis.org.
The AGLC registration and standing offer agreement enables MJardin to make its product available to consumers in Alberta, which is the fourth largest populous market with the second largest cannabis sales in Canada. With active agreements in place in Ontario, British Columbia and Alberta, the Company now services over two-thirds of the Canadian population and anticipates increased revenues as a direct result of their increased availability across Canada.
MJardin Announces change in Board of Directors
TORONTO, Ontario, January 18, 2021 - MJardin Group, Inc. (CSE: MJAR) (the “Company” or “MJardin”), a leader in premium cannabis production, announced today that effective immediately, Messrs. Roman Kocur and Lorne Sugarman have resigned as members of the Board of Directors so that they may focus their efforts on other professional duties.
"On behalf of our board of directors, I thank Roman and Lorne for their valuable service and contributions over the years, and wish them well in future endeavors," stated Adrian Montgomery, Chairman of MJardin.
The Company is in the process of evaluating candidates, and intends to appoint new directors to the board in due course.
MJardin enters into Supply Agreement for Cannabis Product with the BC Liquor Distribution Branch (BCLDB)
The Flint & Embers family of products will be available across British Columbia.
TORONTO, Ontario, January 6, 2021 (GLOBE NEWSWIRE) - MJardin Group, Inc. (CSE: MJAR) (OTCQX: MJARF) (the “Company” or “MJardin”), a leader in premium cannabis production, today announced the completion of a major supply agreement (the “Agreement”) with the British Columbia Liquor Distribution Branch (BCLDB) to supply the provincial wholesaler with premium cannabis products in two formats: 3.5 grams whole flower and 5 x .5 gram pre-rolls.
MJardin is entering the BC market with its new flagship brand, Flint & Embers. The Flint & Embers brand is recognized for its high-quality cannabis varieties, and has received interest from both legal aged consumers as well as Cannabis retailers across Canada. Flint & Embers remains on schedule to be available for purchase in Alberta and Ontario in Q1 of 2021.
MJardin Announces First Shipment of Recreational Cannabis from Brampton Facility to the Ontario Cannabis Store
TORONTO, Ontario, December 22, 2020 - MJardin Group, Inc. (CSE: MJAR) (OTCQX: MJARF) (the “Company” or “MJardin”), a leader in premium cannabis production, today announced that its partner Robes Inc. BLLRDR brand has shipped its first cannabis dried flower products. Shipments will initially be to the Ontario Cannabis Store (“OCS”), with shipments to other provinces planned to begin shortly.
MJardin expects the first shipment to be available for purchase before December 31, 2020. The initial shipment includes 6.3kg of BLLRDR Afghani Bullrider and 9.5kg of Wedding Cake, which will be available in 3.5 gram jars. A subsequent order of 7.7kg and 8.2kg of the BLLRDR Afghani Bullrider and Wedding Cake, respectively, is scheduled for January 4, 2021. Robes’ BLLRDR has been able to build a great following across Canada, with their highly acclaimed Afghani Bullrider strain garnering strong media, retailer and customer attention. The products will be priced competitively in the premium segment of the Ontario market and MJardin expects significant demand for this high quality dried cannabis product.
MJardin Provides U.S. Operations Update
TORONTO, Canada and DENVER, Colorado, November 24, 2020 -- MJardin Group, Inc. (“MJardin” or the “Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, announced today that as part of its ongoing review, evaluation and turnaround process, it has terminated certain management services agreements and consulting agreements (“MSAs”) with parties located in Denver, Colorado, effective immediately.
Following this announcement and the disclosure contained in the Company’s press release dated March 31, 2020, the Company will no longer have any active MSAs in Colorado.
MJardin Group Announces Third Quarter 2020 Financial Results
Q3 Highlights:
· The Company has been able to grow a new fifth strain testing at 24% THC on behalf of Robes at its WILL facility (“WILL”);
· All harvests out of the WILL and GRO facilities (“GRO”) have passed HC microbial testing without the use of irradiation treatment;
· Revenue amounted to $4.8 million;
· Adjusted EBITDA loss of $1.4 million;
· Net income of $7.2 million;
· AtlantiCann Medical Inc. (“AMI”) joint venture contributed $3.1 million to earnings, an increase of approximately 140% from the prior quarter, as shown on net earnings from equity investment line in the financial statements;
· Completed first wholesale transaction following completion of construction at all Ontario facilities;
· Completed construction and licensing of final two flower rooms at the Company’s WILL cultivation facility located in Brampton, Ontario;
· Entered into master service agreement with the Ontario Cannabis Store (“OCS”) for cannabis cultivated at WILL;
· 138% increase in quarter-over-quarter flower production at the Company’s GRO cultivation facility located in Dunnville, Ontario;
· In anticipation of launching retail products in Q4 2020, the Company has transitioned away from previously announced wholesale agreements.
MJardin Group Announces Master Service Agreement with the Ontario Cannabis Store
The OCS approval and MSA, which immediately enable MJardin to make its product available to consumers in Ontario, is an important step in MJardin’s evolution from a pure play cultivator to a consumer-centric company, servicing the needs of retail consumers, in-line with the 2020 strategic plan. As a result, the Company expects increased revenues from same flower production given the higher realized price per gram at the retail sales level, while getting market recognition and consumer brand awareness under the Flint and Embers banner.