Updates on Cannara, ALUULA, and Goldmoney minting more gold
LOVE, AUUA, XAU
Here is the latest from Canadian Value Investors! Some big news for a few companies we follow. Let’s get into it.
ALUULA (TSXV:AUUA) Unlocked, Capital Raise Complete
Cannara Biotech Inc. (TSX:LOVE) Moving on Up
Goldmoney (TSX:XAU) keeps minting more gold
Disclosure: We have long positions in all companies profiled.
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ALUULA (TSXV:AUUA) Unlocked, Capital Raise Complete
We first posted about ALUULA last October and have been watching them for longer. The Company develops and manufactures advanced soft composite materials made out of Ultra-High Molecular Weight Polyethylene (UHMWPE).
As we said last October:
To be clear, this is quite different than most of our other investments, though if you look at our post history you will quickly come to the conclusion that our portfolio is an eclectic group (things like canned vegetables, gold storage, real estate, valves, and fancy moving movie theatre chairs).
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Capex & financing: We view that they absolutely need a new facility + working capital and capital needs are not truly known at this point (we expect clarity early next year).
They just completed a capital raise that addresses our number one issue. They completed their private placement and were able to upsize due to interest. Proceeds are being used for the capex build out as well as to finally clear off a ~$1MM related party loan. With 4.3MM shares issued it creates dilution, but the capital was absolutely required. The issue price and size were actually better (for the company and existing shareholders) than we expected. Overall, it is a reasonable outcome given it was absolutely necessary. As they continue to grow, we expect they will become bankable by conventional lenders soon.
We remain long and have used this as an opportunity to increase our position. We stress that this is high risk and we view this as a venture-like holding in our portfolio (in fact, the only one).
With a 75% increase in revenue last quarter year-over-year, we look forward to seeing what they can do now that they actually have some capital.
Victoria, British Columbia – February 24, 2026 - ALUULA Composites Inc. (TSXV: AUUA | OTCQB: AUUAF) (the “Company” or “ALUULA”) is pleased to announce that it has completed its previously announced “best efforts” brokered private placement of 4,273,475 units of the Company (the “Units“) at a price of C$3.30 per Unit (the “Offering Price”) for aggregate gross proceeds of C$14,102,467.50 (the “Offering“), which includes the exercise in full of the Agent’s option to offer for sale additional Units. The Offering was conducted on a “best efforts” basis by Canaccord Genuity Corp. as sole agent and bookrunner (the “Agent“).
A recent press release showcasing what their product can do - https://aluula.com/aluula-launches-aluula-deified
Cannara Biotech Inc. (TSX:LOVE) Moving on Up
In our cannabis corner, Cannara continues to perform well and is now graduating to the TSX. Full archives here - https://www.canadianvalueinvestors.com/t/love
CANNARA BIOTECH INC. (”LOVE”) - Graduation TSX Venture Tier 2 Company TSX Venture Exchange has been advised that the Company’s common shares will be listed and commence trading on the Toronto Stock Exchange at the opening on Monday, March 2, 2026, under the symbol ‘LOVE’. As a result of this graduation, there will be no further trading under the symbol ‘LOVE’ on TSX Venture Exchange after Friday, February 27, 2026 and the Company’s common shares will be delisted from TSX Venture Exchange at the commencement of trading on the Toronto Stock Exchange.
Growth continues through building out new rooms in their Valleyfield Facility. Sure they are great managers, but it helps when your key second facility was bought in a distressed sale for 10 cents on the dollar (~$27MM vs ~$250MM build cost). They have 12 rooms open and another 12 to go. At ~$1MM per room in additional capex (lights and HVAC) for ~5,000 KG/year, it is very capital efficient. Things are looking up.
Goldmoney (TSX:XAU) keeps minting more gold
Since we purchased and profiled Goldmoney last September, it has turned into a goldmine. https://www.canadianvalueinvestors.com/p/goldmoney-xau-analysis
Our thesis? At current prices ~$10 ~$126MM market cap, the price is undemanding and an asymmetric bet. The real estate portfolio is very likely currently worth roughly this never mind future development opportunities, repurchases are significant, and the storage business could have very real tailwinds with the run up in gold as fees this business earns are a percentage of the underlying precious metal.
Since our post, an interim sale of one of their real estate properties provides some insight into the return of these ventures and management’s mindset.
