LOVFF News & Events

Reports FY25 revenue C$107.3M vs. C$82.2M last year. "Fiscal 2025 represents the strongest annual performance in Cannara Biotech's history and reflects our ability to execute on the significant growth opportunity in front of us," stated Zohar Krivorot, President and Chief Executive Officer of Cannara. "During the year, we set new annual records for revenue, adjusted EBITDA, net income, operating cash flow and free cash flow, delivering substantial year over year growth across almost all key financial metrics. We also delivered strong share gains across our markets, increasing our national market share by almost 32% year over year to 3.81%. In our home province of Quebec, we continued to capture and maintain consumer loyalty, increasing our provincial market share by over 53% year over year to 12.72%. In the near term, our focus is on a successful execution of the November vape category launch in Quebec, where Cannara has secured 20% of all accepted SKUs by the SQDC," Mr. Krivorot continued. "We also look ahead to our Fiscal 2026 post processing initiative at Valleyfield, which will position Cannara for its next phase of cultivation expansion. Over time, we plan to operationalize the remaining 12 grow rooms at our flagship Valleyfield facility, which would increase our total cultivation capacity by approximately 100% over the next four years. We would also like to note the passing of Jack M. Kay, and acknowledge his strong leadership, experience and support as a member of our Board since 2019," Mr. Krivorot added. "Jack made a lasting impact on Cannara and all those who had the privilege of working with him. On behalf of the entire Company, we extend our deepest condolences to his family and loved ones."

Cannara Biotech announced that the common shares of the Company are now eligible for electronic clearing and settlement in the United States through The Depository Trust Company. DTC eligibility will expand access and reduce costs for U.S. investors purchasing Cannara shares enhancing Cannara's trading liquidity. As a subsidiary of the Depository Trust & Clearing Corporation, DTC facilitates the electronic clearing and settlement of publicly traded securities in the United States. With this eligibility, the Company's shares can now be traded through a wider network of U.S. brokerage firms, enabling faster transactions and broader market access. Further to its news release dated October 2, 2025, the Company is also pleased to announce the completion of the issuance of 3,462,763 Common Shares to Olymbec Investments, at an issue price of $1.80 per share, in full payment of approximately $6.2 million of indebtedness, consisting of $4.7 million in principal and approximately $1.5 million in accrued interest, under its convertible debenture issued to Olymbec, the proceeds of which were used to purchase Cannara's mega production facility in Valleyfield, Quebec.

Cannara Biotech announced its intention to settle an aggregate of approximately $6.2M of indebtedness, consisting of $4.7M in principal and approximately $1.5M in accrued interest, under its convertible debenture issued to Olymbec Investments and subsequently amended on August 31, 2023, January 30, 2024, and February 21. The Olymbec Convertible Debenture was originally issued in the total principal amount of $5.7M. As previously disclosed on June 18, 2025, the Company repaid $1M, thereby reducing the outstanding principal to $4.7M. The Company proposes to satisfy the outstanding indebtedness through the issuance of 3,462,763 common shares of Cannara, 851,652 of which represent the repayment of interest owing, at a deemed issuance price of $1.80 per Common Share, in accordance with the terms of the Olymbec Convertible Debenture.

Cannara Biotech announced amendments to its existing credit facility with Bank of Montreal acting as administrative agent, lead arranger, syndication agent and sole bookrunner, including a $10M upsize to support strategic capital investments at its Valleyfield facility. The Restated Credit Facility includes the addition of a $10M committed delayed capital expenditures debt facility. The Capital Expenditures Facility is available by way of multiple draws until July 2026 with a 10-year amortization schedule, repaid in quarterly instalments of unblended payments of principal and interest, with the remaining balance due on December 31, 2027. The new Capital Expenditures Facility will fund the initial phase of Cannara's post-harvest expansion at Valleyfield, introducing hang-drying, freezing, trimming, and packaging capabilities, expanded processing and storage areas, and enhanced butane extraction capacity. By enabling upcoming cultivation room activations beyond the current 12 operating zones, this phase lays the foundation for Cannara's next stage of growth and advances the Company toward its long-term goal of 100,000 kg in annual production capacity.