Avez-vous l'âge légal?
Mercanto Holdings is a profitable, asset-light house of cannabis brands listed on the TSX Venture Exchange under the symbol MUSH. No long-term debt, no equity raised since listing, and management that owns roughly half the company.
Most cannabis companies decide what to sell by looking at what they can produce. Mercanto decides by looking at what sells. We're not cannabis farmers. We read the sell-through data, find the gaps on the shelf, and make the products that fill them — each under the brand that fits that product and that consumer. Others try to get listed for what they make. We make what gets listed.
The result is a company that turned profitable on a few million dollars of revenue, in a sector where competitors fifty times its size are restructuring. Fiscal 2026 to date: revenue up 55%, net income positive, excise current.
Net income positive in Q2 and Q3 fiscal 2026; first fully profitable year in fiscal 2024.
No equity financing since the April 2021 listing. 51.7 million shares outstanding.
Zero long-term debt. Working capital funded from operations.
Management and board hold approximately 47% of the shares.
Fiscal year ends July 31. Figures in Canadian dollars as reported in the company's news releases; see the filings on SEDAR+ for audited statements and MD&A.
| Period | Gross revenue | Net income | EBITDA | Cash |
|---|---|---|---|---|
| Q3 FY2026 (Apr 30, 2026) | $1,222,205 | $119,493 | $158,038 | $542,380 |
| Q2 FY2026 (Jan 31, 2026) | $2,076,820 | $177,785 | $252,233 | — |
| Q1 FY2026 (Oct 31, 2025) | $900,013 | $(146,213) | — | $310,237 |
| FY2025 | $3,561,289 | $(412,313) | — | $394,974 |
| FY2024 | $4,636,034 | $40,603 | $116,826 | $202,370 |
| FY2023 | $4,060,359 | $(452,140) | — | — |
| FY2022 | $1,522,134 | $(1,628,964) | — | — |
Nine months FY2026: revenue $4,199,038 (+55%), net income $145,212. Fiscal 2026 year-end results expected late November 2026. EBITDA is a non-IFRS measure as defined in the company's MD&A.
Audited annual statements, quarterly statements, MD&A, circulars and material change reports are filed on SEDAR+ under Mercanto Holdings Inc. (formerly The Good Shroom Co Inc.).
Three of four directors are independent. The Audit Committee is chaired by an independent CPA.
On the TSX Venture Exchange under the symbol MUSH, and on the US OTC market under TGSHF. Most Canadian and US brokerages can execute orders in either.
July 31. Annual results are typically released in late November; quarterly results in late December, late March and late June.
No. Mercanto owns and manages brands and decides what goes on the shelf from sales data. Its wholly-owned subsidiary, Teonan Biomedical Inc., holds a Health Canada standard processing licence and signs off every lot before it ships.
The Société québécoise du cannabis (SQDC), which accounts for the large majority of revenue, the Ontario Cannabis Store, and select medical platforms. Québec is the only provincial market that grew over the past year; products are sold only through provincially authorized channels.
No. The last equity financing was the $2.875 million private placement at $0.25 per share that closed in February 2021, concurrent with the listing. There are no warrants outstanding.
TSX Venture Exchange approval to repurchase up to 2,851,771 common shares, approximately 10% of the public float, between July 15, 2026 and July 14, 2027, through Raymond James Ltd. Shares purchased are cancelled.
Shareholders approved the change to Mercanto Holdings Inc. on January 29, 2025, effective February 10, 2025, to reflect the company's evolution into a house of cannabis brands. The ticker, MUSH, was retained.
News releases and financial results, as they are filed. Nothing else.