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VIDEO: Hollister $HOLL.ca Closes $20,000,000 Acquisition, Adds $16.4M Revenue & $2.5M EBITDA $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca

Posted by AGORACOM-JC at 9:21 AM on Monday, March 30th, 2020

At a time when established Cannabis stocks are struggling due to an inability to actually deliver real businesses, Hollister Biosciences (HOLL:CSE) has been quietly building a real business, products, revenue and customers in 220 of California’s 600 dispensaries …. and growing, including California’s #1 hash infused pre-roll “Hashbone”.  

If that was all Hollister had going, they’d be in great shape with a super bright future and better than most Cannabis companies (small and large) who can’t even get product out the door.  

BUT THERE’S MORE – THE $20,000,000 ACQUISITION THAT COMES WITH $CDN 16.4M REVENUE & $CDN 2.48M EBITDA  

Hollister has closed their purchase of Venom Extracts, one of Arizona’s largest producers of Award-Winning Medical Cannabis Distillate. Just how good is Venom? In 2019, Venom generated $CDN 16.4M in revenue and $CDN 2.48M EBITDA in 2019 … and all of that was just from the state of Arizona.   

In this amazing interview, Venom Founder Jake Cohen discusses Venom’s aggressive plans to expand its brand and success into other states, including California as it benefits from Hollister’s distribution into 220 dispensaries.  Right now, some of you may be thinking, “yeah but everybody thinks they are going to expand” …. but Jake’s words, as well as those of Alex Somjen (President) and Carl Saling (CEO) are backed up by action.    

Specifically, a significant chunk of Venom’s acquisition shares kicks in if/when revenues hit $CDN 30,000 and $CDN 40,000 …. by December 31, 2021.  In my experience, companies joining forces don’t include such terms if there isn’t a reasonable expectation for hitting those numbers.  It doesn’t guarantee it but you can bet they have good reason to believe Venom sales will get to one or both of those numbers in just 21 months from now.  

If you’re looking for Cannabis companies that are going to survive and thrive over this next decade, then grab your favourite beverage and watch this great interview with Carl Saling, Alex Somjen and Jacob Cohen.

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This entry was posted on Monday, March 30th, 2020 at 9:21 am and is filed under AGORACOM Via Satellite, Featured, Hollister Biosciences. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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