Sproutly Canada (CSE:SPR,OTCQB:SRUTF) issued its financial and operational results for its fiscal 2019.
As quoted in the press release:
“2019 was a defining year for Sproutly. After going public in July of 2018, we acquired Infusion Biosciences Canada and SSM partners, providing us with access to their ground-breaking APP technology to produce water-soluble cannabinoids (“Infuz2O”) and oil-based cannabinoids (“Bio Natural Oil”) which provides the Company with a differentiating proprietary technology to compete in the infused beverage and edible category. In 2019 we also completed our GTA production facility, received our cultivation license from Health Canada and began full-scale production of all 13 grow rooms” said Keith Dolo, Chief Executive Officer of Sproutly.
Highlights for the Year Ended February 28, 2019
- Cash position of C$9.6 million as at February 28, 2019, up from C$0.7 million as at February 28, 2018.
- The Company completed its acquisition of Infusion Biosciences Canada and SSM Partners, for the purpose of developing, producing, distributing, marketing and selling cannabis infused beverages, edibles and topical products derived from Sproutly’s fully licensed APP Technology.
- The Company closed a C$20.7m bought deal financing