Trade Winds Ventures Inc

Published : June 29th, 2015

Tweed Marijuana Inc. Releases Year End Financial Results and Provides Operational Update

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Keywords :   Canada | Consequence | Growth | Market | Storage | Vault |

Tweed Marijuana Inc. Releases Year End Financial Results and Provides Operational Update

SMITHS FALLS, ON , June 29, 2015 /CNW/ - Tweed Marijuana Inc. ("TMI" or "the Company") (TWD.V), parent company of Licensed Producers Tweed Inc. and Tweed Farms Inc., is today releasing audited financial statements for the 15-month period ended March 31 st, 2015 (FY15).  The Company's audited financial statements and Management's Discussion and Analysis document are available on SEDAR.

As previously communicated, TMI received approval from the Canada Revenue Agency (CRA) to revise its year-end to March 31 st in its inaugural operating year to align the year-end of TMI with its subsidiaries, Tweed Inc. and Tweed Farms Inc., resulting in a 15-month fiscal year.  As a consequence, the fiscal period ended March 31, 2015 included a 5th quarter.  The new fiscal year, fiscal year 2016, commenced April 1 st, 2015 and will end on March 31 st, 2016.

Sales for the three and fifteen month periods ended March 31 st were $1,225,689 and $2,371,351 respectively. The average price per gram sold was $7.25 and $7.17 for the three and fifteen-month periods ended March 31 st. In addition, 52% of sales for the 15-month period occurred in the 5th quarter of the year.

Sales and volume grew steadily over the 15-month period, with quarter-over-quarter growth including 91% growth in the fifth quarter over the fourth quarter as the Company continued to advance customer acquisition and retention strategies. Constant, diverse supply of cannabis requires a large growing platform to satisfy the diversity of clientele in the market and as such TMI invested in a large platform throughout FY15 to bring supply and demand into equilibrium. The Company ended FY15 with 34,000 sq. ft. of energy efficient greenhouse growing space and 12 of an eventual 30 climate-controlled indoor growing rooms at its state-of-the-art facility at 1 Hershey Drive in Smiths Falls, ON .

Gross margin for the three and fifteen month periods ended March 31 st were 197% and 119% respectively, due to the gain on the change in the fair value of biological assets (seeds and cannabis plants) more than offsetting inventory expensed and production costs, in accordance with International Financial Reporting Standards (IFRS). The Company ended Fiscal 2015 with a healthy inventory of pre-salable product in various stages of production, including unplanted genetics.  Further explanation of the Company's accounting for biological assets and inventory is available in the notes to the audited consolidated financial statements and Management's Discussion & Analysis (MD&A) on SEDAR. 

The Company's Net Loss for the Fiscal 2015 was $9,346,461 or a loss of $0.29 per share on both a basic and diluted basis.  The loss reflects the initial year of launching commercial operations in a highly regulated industry and establishing the largest cannabis-growing platform in Canada . The Company considers these necessary investments for an industry leader who wishes to attract and retain a large percentage of the market.

TMI's balance sheet at the end of March 31, 2015 was in a strong position to advance business priorities and opportunities with cash and cash equivalents of $21,445,821 and working capital of $24,850,548 .

Selected Annual & Quarterly Information:


FY 2015

Q5

Q4

Q3

Q2

Q1

Grams Sold

324,471

166,657

87,138

44,470

26,205

-

Revenue

2,371,351

1,225,589

641,309

316,117

188,236

-

Gross Margin

2,826,204

2,411,855

230,595

74,475

109,279

-

Gross Margin %

119%

197%

36%

24%

58%

-

Operating Expenses

11,031,929

2,890,447

2,885,221

2,493,089

1,281,724

1,491,418

Subsequent Events:

On June 24 th, 2015 the Company announced an all-stock acquisition of Bedrocan Cannabis Corp. (Bedrocan Canada) (BED.V). The transaction, contingent on Bedrocan Canada shareholder approval and requisite regulatory approvals, is expected to close at the end of August 2015 . Bedrocan Canada will operate as a distinct Licensed Producer and brand and continue to pursue research & development opportunities that will benefit all TMI operating companies. Existing subsidiaries Tweed Inc. and Tweed Farms Inc. will also continue to operate under their present structure and distinct market positioning.

Building permits were issued in April 2015 to commence infrastructure enhancements at Tweed Farms' 20-acre property in Southwestern Ontario. The current phase of construction will add 316,000 sq. ft. of cost-effective growing space and a separate 24,000 sq. ft. packaging facility with a storage vault.

Analyst Call:

An analyst call is scheduled for 8:30 am ET , Tuesday, June 30 th, 2015. Bruce Linton , Chairman and CEO of Tweed Marijuana Inc. and Tim Saunders , CFO of Tweed Marijuana Inc. will provide a financial and operational update covering FY15 and subsequent events.

Dial in: 888-231-8191
Conference ID: 76354407

SOURCE Tweed Marijuana Inc.

Read the rest of the article at finance.yahoo.com
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Trade Winds Ventures Inc

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Trade Winds is a gold and copper exploration company based in Canada.

Trade Winds holds various exploration projects in Canada and in China.

Its main exploration properties are DETOUR LAKE, BIRCH LAKE, GOWEST, TURNER LAKE PROPERTY, TREASURE MOUNTAIN, BLOCK A and DARDANELLES in Canada and SILU and TUOLE in China.

Trade Winds is listed in Canada and in United States of America. Its market capitalisation is CA$ 168.8 millions as of today (US$ 127.4 millions, € 113.7 millions).

Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.01, and its highest recent level on April 04, 2014 at CA$ 4.75.

Trade Winds has 93 240 000 shares outstanding.

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Annual reports of Trade Winds Ventures Inc
2007 Annual Report
Project news of Trade Winds Ventures Inc
8/22/2011(Block A)Intersects 3.08 g/t gold over 20.8 metres on Block A
7/14/2011(Block A)Intersects 4.18 g/t gold over 18.4 metres on Block A
5/5/2011(Block A)Trade Winds Ventures Completes Preliminary Metallurgical St...
3/31/2011(Block A)Announces Initial Results of 2011 Drilling on Block A
2/16/2011(Block A)Files Updated NI 43-101 Technical Report for Block A on SED...
2/3/2011(Block A)Reports Assays from Previously Unsampled Core from its Drill...
7/7/2010(Block A)Announces Preliminary Metallurgical Study
1/19/2010(Block A)Begins 2010 Drill Program on Block ARecieved:
12/15/2009(Block A) Plans 2010 Drilling On Block A Recieved:
5/28/2009(Block A)Completes Updated Mineral Resource EstimateRecieved:
5/27/2009(Detour Lake)Executes Joint Venture With Detour GoldRecieved:
9/19/2008Files NI 43-101 Report for Silu Lead-Zinc Property in China
7/22/2008(Detour Lake)Proceeds with NI 43-101
10/2/2007Intersects High Grade Gold, 120.83 grams/tonne over 1.50 met...
Corporate news of Trade Winds Ventures Inc
9/22/2015BEDROCAN CANADA AND TWEED ANNOUNCE MULTI-CENTRE LONGITUDINAL...
9/17/2015Bedrocan Canada and Tweed announce multi-centre longitudinal...
9/15/2015Tweed Looks to Control Nearly Half of Canadian Cannabis Mark...
9/4/2015Tweed Launches Community Engagement Centres and Acquires Int...
8/31/2015Tweed Marijuana Inc. Completes Acquisition of bedrocan Canna...
8/28/2015Tweed Quarterly Conference Call Details
8/27/2015Bedrocan Receives Additional License Capacity from Health Ca...
8/24/2015Bedrocan Announces Shareholder Approval of Plan of Arrangeme...
8/24/2015Bedrocan Domestic Production Facility Is Fully-Licensed by H...
8/20/2015Tweed Commences Cannabis Extraction, Provides Corporate Upda...
7/28/2015Bedrocan Receives Health Canada Approval to Sell Domesticall...
7/8/2015Tweed Updates Oil Extraction Efforts and Latest Product Offe...
7/8/2015Abba Medix Builds a Diversified Business
4/8/2015Testing the Limits: DigiPath Labs Targets Booming Nevada MMJ...
4/2/2015Tweed Marijuana grants stock options
4/1/2015April 1 Alert: Tweed R&D Discovers Exciting Genetic Mutation
3/25/2015Tweed Marijuana Inc. Announces Partial Exercise of Over-Allo...
3/17/2015Tweed Marijuana Inc. Closes $20 Million Bought Deal Financin...
2/26/2015Tweed Marijuana Inc. Releases Full Q4 Financials and Provide...
2/23/2015Canadian regulators warn on medical marijuana disclosures
2/20/2015Tweed Installs Aeroponics Pilot Project with Indoor Harvest
2/18/2015Tweed Marijuana releases key fourth quarter summary and prov...
2/10/2015Tweed and Canabo Medical Corporation Launch Collaborative Re...
1/26/2015Cannabix Provides Alternative to Costly Drug Detection Tacti...
1/5/2015Tweed Marijuana Inc. announces second license renewal and ma...
12/12/2014Canadian medical marijuana company PharmaCan to go public ne...
12/11/2014Tweed Provides Support to The Canadian AIDS Society
11/26/2014Tweed Marijuana Inc. Q3 Results and Operational Highlights
11/20/2014Enertopia Provides Footage of Planned MMPR Facility
11/19/2014Tweed announces license renewal
8/16/2011(Block A)Begins 20,000 Metre Drill Program on Block A
7/29/2011Analysis on Trade Winds Ventures TWD: TSX.V - TWDIF: OTC fro...
5/2/2011(Block A)Completes Preliminary Metallurgical Study on Block A
2/21/2011(Block A)Named to 2011 TSX Venture Top 50 Companies - Ranked 9th in M...
11/21/2008' Thanks You for Attending Online Presentation
8/12/2008Company Update
7/16/2008To Begin Exploration on BC Projects
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