Morning Greenies! Welcome to The Greenfields.

What’ve we got for you today?

• Cann Group’s growing revenues 📈 

• Emyria shares drop 12% after raising $2.5 million 📉 

• Little Green Pharma grows operating losses to $10 million 💰️ 

• Avecho partnerships jump shares 12% 🦘 

Lots of quarterly results coverage to get through today so let’s get stuck in..

Cann Group Growing Revenues

Cann Group have increased revenue in the March quarter, with earnings rising to $4 million - an impressive 219% increase from the prior corresponding period.

They've also delivered their first shipment of high (😉) THC flower to Germany's Ilios Sante.

Their operating losses have increased to $5.7 million - up from $4.2 million in the previous quarter. Overall, the company has incurred operating losses of $16.4 million for the year so far.

Cann Group had steady revenue growth between the December and March quarters thanks to high demand for its dried flower. They also predict increased yields thanks to on-going improvements to cultivation projects which should benefit both its inhalable and extraction grade flower production.

Inhalable flower production has risen by 68.8% while extraction grade flower increased by 18.7%.

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Emyria’s $2.5 million raise drops shares 12%

Emyria has raised $2.5 million from new and existing investors. Investors obviously weren't too impressed given the share price dropped by 12%.

The funds will go towards several promising projects, including trials for EMD-RX5 a low-CBD treatment for anxiety and stress. Emyria is aiming for an over-the-counter registration of EMD-RX5. The company is also setting up MDMA and Psilocybin therapy.

The company has commenced trials for their low-CBD treatment for anxiety and stress EMD-RX5.

The trial aims to have 300 participants and Emyria is hoping the results will be positive despite several recent failures of low-CBD treatments. Emyria is in the process of registering their high-CBD capsule, EMD-RX9, with the US FDA.

Emyria had a positive operating cashflow of $600k thanks to a $2 million R&D tax refund during the quarter.

Little Green Pharma sales increase 50%

Little Green Pharma has increased quarterly cash receipts from $6 million to $6.7 million in the March quarter.

Unfortunately an operating profit has eluded them with $1.2 million operating loss in the quarter. This brings their net operating losses for the year to almost $10 million.

Little Green Pharma reported an impressive 50% increase in flower sales from the previous quarter, showing that their products are popular with cannabis users.

They recently made their first delivery of cannabis to Germany's Ilios Sante.

Avecho partnerships jump shares 20%

Avecho has raised $11 million to fund Phase 3 trials of their low-CBD treatment for insomnia. This comes after a tough year for Phase 3 trials of CBD insomnia treatments, which have seen several others fail.

Despite this, Avecho's shares jumped approximately 20% on the release of their quarterly results.

The company has secured partnerships with the Lambert Initiative to use their CBD capsule in new trials, as well as the Perrigo Company to develop an ibuprofen gel to be applied to the skin for pain treatments. These partnerships have helped push the shares higher.

Avecho's upcoming Phase 3 trials will aim to demonstrate the efficacy of their low-CBD treatment for insomnia and register it for over-the-counter sales.

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That’s your walk through The Greenfields of the cannabis industry today. We hope you've enjoyed it.

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