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Medcolcanna Organics Inc. (E:MCCN)

Business Focus: Recreational Pharmaceuticals

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Insider Chart - Past 6 Months

Insider Filings

Latest 10 SEDI filings for MCCN within the last 6 months
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Company News

Jun 01, 2023 13:10 ET
Medcolcanna Organics Announces Bridge Loan Arrangement
Bogota, Colombia--(Newsfile Corp. - June 1, 2023) - Medcolcanna Organics Inc. (CSE: MCCN) ("Medcolcanna," "MCCN" or the "Company"), a leading Colombian and globally integrated cannabis company, announces a bridge loan arrangement (the "Bridge Loan") with a significant shareholder of the Company (the "Lender"). Under the terms of the Bridge Loan, the Lender provided a bridge loan financing amount of USD$500,000 for a nine month term at an annual interest rate of 12% per annum, with interest payments to begin on January 1, 2024 and with an additional USD$500,000 being available for a period of two months (the "Override Amount"), bringing the total available loan amount to USD$1,000,000. The purpose of the Bridge Loan is to cover working capital requirements, including payroll and related business expenses, until the Company can become financially self-sustaining and to cover some of the costs associated with paying for audit related expenses so that the Company can file its outstanding financial statements and get its shares relisted and reposted for trading on the Canadian Securities Exchange ("CSE"). Final details of the Bridge Loan are subject to acceptance of the CSE.
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Mar 07, 2023 08:51 ET
Medcolcanna Organics Announces Bridge Loan Arrangment
Bogota, Colombia--(Newsfile Corp. - March 7, 2023) - Medcolcanna Organics Inc. (CSE: MCCN) ("Medcolcanna", "MCCN" or the "Company"), a leading Colombian and globally integrated cannabis company, announces a bridge loan arrangement (the "Bridge Loan") with a significant shareholder of the Company (the "Lender"). Under the terms of the Bridge Loan, the Lender provided a bridge loan financing amount of USD$100,000 for a two-year term at an annual interest rate of 12% per annum, with interest payments completed quarterly with an additional USD$200,000 which was recently borrowed (the "Override Amount"), bringing the total available loan amount to USD$300,000. The purpose of the Bridge Loan is to cover working capital requirements, including payroll and related business expenses, until the Company can become financially self-sustaining and to cover some of the costs associated with paying for audit related expenses so that the Company can file its outstanding financial statements and get its shares relisted and reposted for trading on the Canadian Securities Exchange ("CSE"). Final details of the Bridge Loan are subject to acceptance of the CSE.
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Valuation Ratios

Industry
Sector
Beta
N/A
--
--
Price to Sales - TTM
1.82
1.00
3.46
Price to Book - most recent quarter
--
2.01
2.02
Price to Cash Flow per share - TTM
--
--
9.70
Price to Free Cash Flow per share - TTM
--
10.99
12.33
See all valuations

Short Report

DateNumber of Shares ShortedNet Change
Dec 31, 196900
Dec 31, 196900
Dec 31, 196900
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Business Summary

Sector:  Healthcare Industry:  Pharmaceuticals

Medcolcanna Organics Inc. is a Canadian integrated medical cannabis company, whose fully licensed operations are based in Colombia. The Company is engaged in the cultivation and conversion of cannabis into raw materials, commodities, and finished cannabis products for the global market, such as nutraceuticals, cosmetics, and medicinal products. It is also engaged in providing extraction services and involved in the cannabis distribution and vaping industry. Its products and services portfolio include commodities, white label services and other services. Its other services include in vitro plants, cuttings, fresh and dry flower, biomass, third party crop operation, and technical assistance. The Company, through its subsidiary, Medcolcanna S.A.S, is engaged in sowing and cultivation of psychoactive and non-psychoactive cannabis plants, and manufacturing of cannabis derivatives in Colombia. Its other subsidiaries include Extralia Labs SAS and MCCN SA.

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