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Simply Solventless Concentrates Ltd ( (TSE:HASH) ) just unveiled an announcement.
Simply Solventless Concentrates Ltd. has initiated a retrofit of its Humble Grow Co. facility, aiming to boost cannabis production from 8,000kg to 14,000kg annually, which is expected to significantly increase revenue. The retrofit, costing approximately $2.5 million, will be funded through equipment financing and operational cash flow, with government rebates reducing the cost further. Additionally, SSC has completed the repayment and amendment of promissory notes related to its acquisition of ANC Inc., improving its financial position by issuing shares and restructuring payment terms, thus enhancing its balance sheet and reducing cash obligations.
More about Simply Solventless Concentrates Ltd
Simply Solventless Concentrates Ltd. operates in the cannabis industry, focusing on the production of solventless cannabis concentrates. The company is known for its cultivation and production facilities, with a market focus on increasing production capacity and enhancing revenue through strategic facility upgrades and financial restructuring.
Average Trading Volume: 648,380
Technical Sentiment Signal: Sell
Current Market Cap: C$21.58M
For an in-depth examination of HASH stock, go to TipRanks’ Overview page.