Agoracom Blog Home

Posts Tagged ‘Cannabis’

VIDEO – Molecule $MLCL.ca Is At The Forefront of The Cannabis Beverage Revolution, with Landmark Licensing Deal And Estimated Revenue Run Rate of $23.2m $WEED.ca $TPX.A.ca $ACB.ca

Posted by AGORACOM-JC at 9:30 AM on Thursday, January 28th, 2021

Phil Waddington / President and CEO of Molecule Holdings Inc. / (MLCL:CSE) discusses the craft-focused, cannabis beverage production company’s cutting-edge work in the nascent Canadian market. 

Boasting a 200,000 square foot production facility based in Ontario, the company has just been given the green light to begin selling its unique line of cannabis-infused beverages throughout Canada, starting in Ontario and Québec. 

The company’s recent partnership with Vortex Cannabis Inc. allows Molecule to bring its unique line of cannabis-infused beverage products to market this year, while completing its own sales amendment application. 

Molecule Highlights:

  • Molecule’s recent deal with Vortex Cannabis Inc. allows it to begin selling its unique line of cannabis-infused beverages throughout Canada this year.
  • Vortex will sell products produced by Molecule to provincial retailers, starting with Ontario and Québec.
  • Molecule has a 200,000 square foot production facility based in Ontario, offering huge capacity.
  • The company forecasts 2021 Q1 revenue of $3.5m, 2021 Q2 revenue of $5.8m, and a 2021 Run Rate revenue of $23.2m
  • An early leap of faith into this emerging industry in 2018 has positioned the company well ahead of the pack now.
  • “We are excited to move into full scale production and sale,” says CEO Phil Waddington.

Avicanna $AVCN.ca $AVCNF Launches RHO Phyto™ Topical Gels in Canada and Initiates Clinical Studies $TRUL.ca $ACB

Posted by AGORACOM-JC at 7:59 AM on Thursday, January 28th, 2021
http://www.smallcapepicenter.com/Avicana%20square%20logo.jpg
  • RHO Phyto Deep Tissue Gels will be initially available on the Medical Cannabis by Shoppers Drug Mart™ online platform and expanded into specific consumer retail channels in February 2021.
  • Initiation of osteoarthritis preclinical trials in Canada in addition to the enrollment of the products into the UHN MC-RWE study to evaluate the effectiveness on pain, sleep, anxiety, and depression.

TORONTO, Jan. 28, 2021 — Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce the launch of the RHO Phyto™ Deep Tissue Gels (the “ RHO Phyto Deep Tissue Gels ”) through Medical Cannabis by Shoppers Drug Mart as well as through additional adult use channels. The Company is also pleased to announce the initiation of pre-clinical osteoarthritis evaluations after successful in vitro studies and the enrollment of the Deep Tissue Gels in the Medical Cannabis Real World Evidence (“ MC-RWE ”) study. The MC-RWE study is led by the University Health Network (“ UHN ”) with the goal to evaluate the effectiveness of medical cannabis on pain, sleep and other related comorbidities.

About the RHO Phyto Deep Tissue Gels

The RHO Phyto Deep Tissue Gels synergistically combine natural clove oil and menthol with cannabinoids and natural polyphenols in advanced emulsions which are optimized for faster absorption and deeper delivery. The RHO Phyto Deep Tissue Gel formulations are also designed for long term cannabinoid shelf-life stability and accurate dosing with cooling sensation, and pleasant mint aroma. The deep tissue technology has been developed and optimized by Avicanna’s research and development team. Over the last 3 years, the RHO Phyto Deep Tissue Gel formulations have been validated by a series of preclinical studies where both stability and enhanced absorption into the deeper layers of the skin were shown.

Read More: https://agoracom.com/ir/Avicanna/forums/discussion/topics/754105-avicanna-launches-rho-phyto-topical-gels-in-canada-and-initiates-clinical-studies/messages/2300727#message

Hollister Biosciences Inc. $HOLL.ca $HSTRF Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020 $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 8:21 AM on Monday, January 25th, 2021
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_dd2snc3b/def_height/400/def_width/400/version/100011/type/1
  • Branded Products now on sale in over 370 cannabis dispensaries in Arizona and California
  • 4 owned brands, and 3 brand collaborations
  • Over 4 million grams sold
  • Over 96,000 lbs. of cannabis biomass converted into finished products in Arizona
  • Total sales for 2020 increased 3233% from 2019 and are estimated to be approximately CDN $40 million
  • December 2020 sales totaled greater than CDN$6 million

VANCOUVER, BC , Jan. 25, 2021 – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the ” Company “, “Hollister Cannabis Co .” or ” Hollister “) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona , is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22 nd , 2021, several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales.

The company’s wholly owned subsidiary, Venom Extracts (” Venom “) product suite is a category leader with over 4 million grams sold in 2020, accounting for up to 30 percent of category sales state-wide. Venom is positioned for continued growth in Arizona , it has a strong brand recognition and distribution network, its products are available at leading retailers including Harvest Health and Recreation (CSE: HARV , OTCQX: HRVSF ), Curaleaf (CSE: CURA , OTCQX: CURLF ), Bloom, MuV and Oasis Cannabis dispensaries among others.

Arizona voted to legalize adult use cannabis in November, “Marijuana Business Daily projects that the state’s recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024”.

Read More: https://agoracom.com/ir/HollisterBiosciences/forums/discussion/topics/753842-hollister-biosciences-inc-commends-the-state-of-arizona-for-starting-adult-use-cannabis-sales-ahead-of-schedule-venom-extracts-it-s-100-owned/messages/2300014#message

Hollister Biosciences Inc. $HOLL.ca $HSTRF Announces an Increase in Private Placement to $6.5 Million $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 12:46 PM on Thursday, January 21st, 2021
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_dd2snc3b/def_height/400/def_width/400/version/100011/type/1

  • Announced that it has entered into an amended letter of engagement with Eight Capital, pursuant to which Eight Capital, acting as sole bookrunner and lead agent, has now agreed to offer for sale, together with a syndicate of agents 17,810,000 Special Warrants of the Company on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Special Warrant of $0.365 for total gross proceeds of up to $6,500,650
  • Each Special Warrant shall be automatically exercisable into units of the Company, as described below. Each Unit shall consist of one common share of the Company and one-half of one common share purchase warrant

VANCOUVER, British Columbia, Jan. 21, 2021 — Hollister Biosciences Inc. (CSE:HOLL, OTC:HSTRF, FRANKFURT:HOB) (“ Hollister ” or the “ Company ”) is pleased to announce that it has entered into an amended letter of engagement with Eight Capital, pursuant to which Eight Capital, acting as sole bookrunner and lead agent, has now agreed to offer for sale, together with a syndicate of agents (together with Eight Capital, the “ Agents ”), 17,810,000 Special Warrants of the Company (the “ Special Warrants ”), on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Special Warrant of $0.365 (the “ Issue Price ”) for total gross proceeds of up to $6,500,650 (the “ Offering ”).

Each Special Warrant shall be automatically exercisable into units of the Company (the “ Units ”), as described below. Each Unit shall consist of one common share of the Company (a “ Share ”) and one-half of one common share purchase warrant (each full warrant, a “ Warrant ”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.50 per Share for a period of 46 months following the Closing Date.

Each Special Warrant shall be automatically exercisable, for no additional consideration, into Units on the date (the “ Automatic Exercise Date ”) that is the earlier of: (i) the date that is three business days following the date on which the Company either (A) obtains a receipt from the applicable securities regulatory authorities (the “ Securities Commissions ”) for a (final) short form prospectus qualifying distribution of the Units underlying the Special Warrants (the “ Qualifying Prospectus ”); or (B) files a supplement to a (final) short form base shelf prospectus qualifying the distribution of the Units underlying the Special Warrants (the “ Qualifying Supplement ”), and (ii) the date that is four months and one day after the Closing of the Offering.

Read More: https://agoracom.com/ir/HollisterBiosciences/forums/discussion/topics/753581-hollister-biosciences-inc-announces-an-increase-in-private-placement-to-6-5-million/messages/2299280#message

Avicanna $AVCN.ca $AVCNF Initiates Pre-Clinical and Behavioural Studies on its RHO Phyto™ Formulary with University of Guelph and Provides Research and Management Team Updates $WEED.ca $CL.ca $HEXO.ca

Posted by AGORACOM-JC at 8:07 AM on Thursday, January 21st, 2021
http://www.smallcapepicenter.com/Avicana%20square%20logo.jpg
  • Updated and amended its collaboration with Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, and initiated prioritized pre-clinical studies on the RHO Phyto formulations that are commercialized in Canada and Colombia.
  • Additionally, the Company provides an update on research projects with the University of Toronto and Thompson Rivers University as well as a change to its management team.

TORONTO, Jan. 21, 2021– Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products has updated and amended its collaboration with Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, and initiated prioritized pre-clinical studies on the RHO Phyto formulations that are commercialized in Canada and Colombia. Additionally, the Company provides an update on research projects with the University of Toronto and Thompson Rivers University as well as a change to its management team.

Initiation of pre-clinical studies on RHO Phyto in collaboration with University of Guelph

Further to Avicanna’s previous announcement regarding Dr. Khokhar’s research team at the University of Guelph being awarded a Natural Sciences and Engineering Research Council of Canada (“ NSERC ”) Alliance grant focused on the neurobiological underpinnings of cannabis toxicosis with the aim to evaluate Avicanna’s formulations in the treatment of cannabis-induced toxicosis, the project is now being expanded. The expansion of the project includes pharmacokinetic and behavioural testing of Avicanna’s RHO Phyto™ formulations as well as studying their efficacy in alleviating neuropathic pain and addiction. The data generated from the research will help guide Avicanna’s clinical development, including the pharmaceutical and real-world evidence studies related to the RHO Phyto formulations, and will provide additional information to health care practitioners who are recommending and prescribing the products in several markets.

COVID-19 drug candidate project update

The research collaboration with the University of Toronto on the development of a drug candidate to treat lung inflammation caused by COVID-19, with funding support from an NSERC Alliance grant and a MITACS Alliance grant, is complete. The peer-reviewed grants were focused on the development of a cannabinoid formulation to be used for further research on COVID-19. The physical and chemical characterization of the optimized cannabinoid formulation is complete, which included its stability and drug release properties in relevant conditions.

COVID-19 and anti-inflammatory related research collaboration with TRU with non-dilutive funding

In partnership with Avicanna, Dr. Kingsley Donkor and collaborators from Thompson Rivers University (” TRU ”), will be evaluating naturally derived cannabinoids and candidate formulations for their efficacy to modulate the receiving receptor of COVID-19 (angiotensin-converting ACE2 gene expression). This project will focus on elucidating the mechanism of action of novel prophylactic nasal and oral cannabinoid products for humans that target ACE2 viral gateways. Candidate formulations, once identified, will be evaluated for anti-inflammatory effects in human-derived lung tissue models. The research with TRU is supported by an NSERC grant and a MITACS Internship.

Read More: https://agoracom.com/ir/Avicanna/forums/discussion/topics/753556-avicanna-initiates-pre-clinical-and-behavioural-studies-on-its-rho-phyto-formulary-with-university-of-guelph-and-provides-research-and-management/messages/2299215#message

Harborside Inc. $HBOR.ca $HBORF Announces Upsize of Previously Announced Private Placement to C$27 Million $HBOR.ca $VFF.to $HARV.ca $ACB.to

Posted by AGORACOM-Eric at 9:39 AM on Wednesday, January 20th, 2021
https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564690/hub/Harborside_Inc2_logo.png
  • Upsized its previously announced brokered private placement for gross proceeds of approximately C$27 million

Harborside Inc. (“Harborside”, or the “Company”) (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, is pleased to announce that it has upsized its previously announced brokered private placement of units (the “Units”) of the Company at a price of C$2.55 per SVS Unit (as defined below) for gross proceeds of approximately C$27 million (the “Offering”), representing an increase of C$7 million, due to excess demand.  ATB Capital Markets and Beacon Securities Limited are co-lead agents to the Offering (the “Agents”).

The Company has granted the Agents an option to sell up to an additional 15% of the Units in the Offering, exercisable in whole or in part at any time prior to closing of the Offering.

As previously announced, Entourage Effect Capital, LLC, one of the largest shareholders of Harborside, is participating in the Offering with approximately C$9.0 million in commitment.

Read More:https://agoracom.com/ir/HarborsideInc/forums/discussion/topics/753458-harborside-inc-announces-upsize-of-previously-announced-private-placement-to-c-27-million/messages/2299033#message

Harborside $HBOR.ca $HBORF Announces C$20 Million Private Placement of Equity Units and Provides 2021 Outlook $HBOR.ca $VFF.to $HARV.ca $ACB.to

Posted by AGORACOM-Eric at 6:35 PM on Tuesday, January 19th, 2021
https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564690/hub/Harborside_Inc2_logo.png
  • 2020 Preliminary Results and 2021 Outlook also provided

Harborside Inc. (“Harborside”, or the “Company”) (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, today announced a brokered private placement of units (the “Units”) of the Company (the “Offering”) at a price of C$2.55 per SVS Unit (as defined below) for gross proceeds of approximately C$20 million with approximately C$9.0 million of commitment from Entourage Effect Capital, LLC (“Entourage”), one of the largest shareholders of Harborside.

The Company has granted the Agents (as defined below) an option to sell up to an additional 15% of the Units in the Offering, exercisable in whole or in part at any time prior to closing of the Offering.

Each Unit issued to non-residents of the United States (an “SVS Unit”) will be comprised of one subordinate voting share of the Company (the “Subordinate Voting Shares”) and one Subordinate Voting Share purchase warrant (each a “Warrant”) of the Company. Each Warrant will be exercisable to acquire one Subordinate Voting Share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering (the “Closing Date”) at an exercise price of C$3.69 per Warrant Share, subject to adjustment and acceleration in certain events.

All investors that are considered residents of the United States under the United States Securities Exchange Act of 1934, will be issued units comprised of multiple voting shares of the Company (the “Multiple Voting Shares”) and Multiple Voting Share purchase warrants of the Company, which will be based on the same economic equivalency of each Multiple Voting Share converting into 100 Subordinate Voting Shares.

“We are continuing to expand our footprint in the robust California cannabis market, delivering our best-in-class service and the high-quality product selection that Harborside is known for,” said Matthew Hawkins, Chairman of Harborside. “California is one of the largest cannabis markets in the world and Harborside has more than a decade of market success for our team to build on. I would like to thank our current and new shareholders for their overwhelming support of our growth strategy. This additional capital will solidify our balance sheet and provide a platform for us to continue to consolidate in the California market through accretive M&A transactions.”

Read More: https://agoracom.com/ir/HarborsideInc/forums/discussion/topics/753428-harborside-inc-announces-c-20-million-private-placement-of-equity-units-and-provides-2021-outlook/messages/2298963#message

Four Cannabis Resolutions for 2021 SPONSOR: Harborside $HBOR.ca $VFF.to $HARV.ca $ACB.to

Posted by AGORACOM-Eric at 2:27 PM on Thursday, January 14th, 2021
https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564690/hub/Harborside_Inc2_logo.png

SPONSOR: Harborside is a California-focused, vertically integrated, fully licensed cannabis company with its business consisting of three primary segments, Retail Dispensaries, Cultivation and Processing and Wholesale Sales (including branded product sales). Harborside operates the only drive through dispensary in California

  • Here are four resolutions for conscientious local cannabis consumers to consider.

By all accounts, the Bay Area cannabis industry did remarkably well for itself in 2020.

Forced to deal with new COVID-19 restrictions, a crumbling economy, fallout from multiple wildfires, and a string of high-profile robberies, cannabis companies still managed to rake in close to $1 billion for California in state tax revenue alone.

At the same time, the window for equity brands to establish a viable foothold in the industry continues to rapidly close.

It’s now been a full three years since California’s adult-use market began in earnest. That’s a lot of time for consumers to develop brand loyalty, be it on the product side or the shops they frequent. Nonetheless, the time required to move through San Francisco’s equity program means that a number of new, equity-owned businesses are just now getting off the ground.

And they could use your help. In fact, there’s a number of ways individuals can make a difference! On that note — and in the spirit of starting 2021 on the right foot — here are four resolutions for conscientious local cannabis consumers to consider.

Shop Equity-Owned

There are two types of dispensaries that exist in San Francisco: those that were grandfathered in from the Prop. 215 days and those owned by equity operators. To be sure, there are plenty of great pot shops that fall into the former category, but in the spirit of spreading the love around, it’s also extremely important to support the new crop of Black and brown-owned dispensaries now open in the city if we hope to see them endure. In 2020 alone, new shops to open from equity owners include Stiiizy-Union Square (SF’s first dispensary owned by a Latina woman) and Posh Green (SFs first dispensary owned by a Black woman). There is also a newly created “SF Equity” seal that customers can look for when shopping for local products across all categories. More new shops, including one affiliated with the combo print shop and arcade, Free Gold Watch, are expected to open in 2021 as well.

Tour a Legal Grow

It may sound like a flowery platitude, but to truly understand cannabis, one should really see it grow. In the past, such a visit might have put you at risk of doing time, but nowadays, there are legal opportunities for individuals or groups to tour outdoor and indoor grow sites. Walking between rows of towering plants at the peak of harvest is something everyone should experience. From the scents to the scale to the solace, there is so much to soak in at a cannabis farm. As an added bonus, you’ll likely also get to meet the farmers responsible for growing your medicine. They can tell you about the ways smoke changes sunlight, which in turn affects terpene output. They can share their personal stories of what led them to this career (hint: when it comes to craft growers, the answer is not “getting rich”)

Cook with Cannabis

If we haven’t yet arrived at the molecular gastronomy phase of the cannabis cooking revolution, it’s assuredly coming soon. From the golden days of brownies baked by intuition, the modern edibles market is, by contrast, a brain-bursting cornucopia of choice and potential confusion. If you’re tired of trying to understand the difference between live resin and raw flower or continue to question how dosing works, why not get a little hands-on experience? The time has quite honestly never been better to bring cannabis into your home kitchen. Local cannabis chef (and Mellows founder) Stephanie Hua has a cookbook to guide newbies along, while San Francisco’s Potli prides itself on offering products designed to serve as staples of a cannabis-friendly pantry. Once you’ve tackled a few recipes on your own, you’ll likely have a far more nuanced appreciation for all of the many ingredients that go into preparing an infused edible!

Support Pot Non-Profits

Yes, 2020 was a big year for people asking for money. No, that’s not likely to end anytime soon. Of the many worthy causes in need of your funds, several groups focused on advocacy and racial justice within the legalized cannabis space are notably also seeking donations. In the Bay Area, Oakland’s the Hood Incubator is calling for financial contributions. It’s difficult to overstate how the industry — both in the Bay Area as well as across California — might look without their tireless efforts to empower local equity applicants to reach the finish line and remain viable. Another one to consider is the California chapter of the National Organization for the Reform of Marijuana Laws (NORML). Advocates for patients and sensible drug laws, it’s likely both CA NORML as well as the organization’s national wing will both be very busy this year as the prospect of federal decriminalization (or outright legalization) continues to gain traction in Congress.

SOURCE: https://www.sfweekly.com/culture/pacific-highs/four-cannabis-resolutions-for-2021/

Harborside Inc. $HBOR.ca $HBORF Announces Participation in ATB 9th Annual Institutional Investor Conference $VFF.to $HARV.ca $ACB.to

Posted by AGORACOM-Eric at 1:46 PM on Wednesday, January 13th, 2021
  • Matt Hawkins, Chairman of Harborside, will participate at the ATB 9th Annual Institutional Investor Conference, January 14, 2021

Harborside Inc. (“Harborside”, or the “Company”) (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, announced that Matt Hawkins, Chairman of Harborside, will participate at the ATB 9th Annual Institutional Investor Conference, being held on January 14, 2021. Mr. Hawkins is scheduled to participate in a panel discussion, “U.S. Retail: What Leadership Looks Like Today and Tomorrow”, at 9:40am ET as well as host one-on-one investor meetings throughout the day.

About Harborside:
Harborside Inc. is one of the oldest and most respected cannabis retailers in California, operating three of the major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and a cultivation/production facility in Salinas, California. Harborside has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers. In 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States and today holds cannabis licenses for retail, distribution, cultivation, nursery and manufacturing. Harborside is currently a publicly listed company on the CSE trading under the ticker symbol “HBOR”. Additional information regarding Harborside is available under Harborside’s SEDAR profile at www.sedar.com.

Hollister Biosciences Inc. $HOLL.ca $HSTRF Provides Update on Q4 2020 Performance Including CDN $14.93 Million in Revenue With an Estimated CDN $2.53 Million in EBITDA a YoY Revenue Increase of 3215% from Q4 2019 $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 7:44 AM on Friday, January 8th, 2021
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_dd2snc3b/def_height/400/def_width/400/version/100011/type/1
  • For the period beginning October 1 st , 2020 and ending December 31 st , 2020, Hollister reports that it generated record quarterly revenue of CDN$14.93 million and CDN$2.53 million in EBITDA from its product line of pre-rolls, concentrates, distillates, solvent-free bubble hash, pre-packaged flower, tinctures and vape products.
  • “We are very pleased with our ability to deliver record quarterly revenue in such a challenging market environment. We attribute our revenue growth to further penetration of the California and Arizona dispensary networks and successful new product launches with our joint venture partners. Sales of cannabis related products continue to show resilience throughout the COVID-19 pandemic. We hope to continue this positive momentum into 2021” stated Alex Somjen , President.

VANCOUVER, BC , Jan. 7, 2021 – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the ” Company “, ” Hollister Cannabis Co .” or ” Hollister “) a diversified cannabis branding company with products in over 280 dispensaries throughout California , and over 90 dispensaries throughout Arizona , is pleased to provide an update on its Q4, 2020 performance.

Q4 2020 Update

For the period beginning October 1 st , 2020 and ending December 31 st , 2020, Hollister reports that it generated record quarterly revenue of CDN$14.93 million and CDN$2.53 million in EBITDA from its product line of pre-rolls, concentrates, distillates, solvent-free bubble hash, pre-packaged flower, tinctures and vape products. The Company cautions that revenue and EBITDA figures have not yet been audited and are based on reports prepared by management.

“We are very pleased with our ability to deliver record quarterly revenue in such a challenging market environment. We attribute our revenue growth to further penetration of the California and Arizona dispensary networks and successful new product launches with our joint venture partners. Sales of cannabis related products continue to show resilience throughout the COVID-19 pandemic. We hope to continue this positive momentum into 2021” stated Alex Somjen , President.

Read More: https://agoracom.com/ir/HollisterBiosciences/forums/discussion/topics/752594-hollister-biosciences-inc-provides-update-on-q4-2020-performance-including-cdn-14-93-million-in-revenue-with-an-estimated-cdn-5-53-million-in/messages/2296579#message