Mind Cure Limps To The Finished Line

April 21, 2023 · Green Market Report

After the market closed on Thursday, Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF)  announced its financial results for the quarter ending February 28, 2023.  All amounts are stated in Canadian dollars unless otherwise indicated. The company had no revenue to report and C$200k in losses.

On March 16, 2022, Mind Cure announced that additional capital required to execute the company’s plan was unlikely to be found. Accordingly, the company made the decision to eliminate all expenditures outside those required to preserve the value of the company’s assets including its public company status with Canadian securities regulators and cash and cash equivalents. The company noted in its filing that it has $6.1 million in cash and cash equivalents.

The company said it currently has no sources of cash from operations. Management estimates that it will be able to meet its obligations and sustain operations for at least the next twelve months.

As of February 28, 2023, the company continued to hold equity in ATMA Journey Centers Inc., a privately held company, comprising of 1,250,000 common shares and 492,958 series A preference shares. As of February 28, 2023, the company determined its strategic equity investment in ATMA had a fair value of $nil. (Full Story)

Next Post

As Canadian medical cannabis slump continues, survey says cost an issue

The high cost of medical cannabis poses major obstacles for Canadian patients, even as recreational marijuana prices remain low, a new survey of thousands of Canadians suggests. The finding comes as a slump in consumer spending on regulated medical cannabis in Canada continues,…
Read
Previous Post

TerrAscend Steps Closer To The TSX

TerrAscend Corp. (CSE: TER) (OTC: TRSSF) decided to celebrate 420 by filing its preliminary proxy statement with the U.S. Securities and Exchange Commission in its next step to listing on the Toronto Stock Exchange (the TSX). While the company had hoped to…
Read
Random Post

Minnesota Marijuana Regulators Lay Out Roadmap For Implementing Legalization

Minnesota officials outlined the long, labyrinthine process for implementing the state’s new marijuana law during an informational meeting on Wednesday night, offering updates on the search for an Office of Cannabis Management (OCM) director as well as the array of…
Read
Random Post

Luxury concept cannabis store set to open in East Village

You’ve seen cannabis dispensaries open in New York City over the past year, but you’ve never seen one quite like the one set to open in Manhattan’s East Village. Gotham is located on 3rd Street near the Bowery. The first…
Read
Random Post

Washington Lawmakers Set To Enact Interstate Marijuana Sales Bill

Lawmakers in Washington State are on the cusp of passing legislation that would set the stage for licensed marijuana businesses to be able to engage in cross-border commerce with cannabis companies in other legal states. The state’s House of Representatives…
Read
Random Post

North Carolina Senate Approves Medical Marijuana Regulatory Appointment As House Leader Says ‘Heavy-Handed’ Tactics Not Helping Legalization’s Fate

A Republican North Carolina senator is making it clear that he intends to see his medical marijuana legalization bill pass this session despite some obstinance among GOP leadership in the House—and he’s even gone so far as to include medical…
Read