TerrAscend (CSE:TER,OTCQX:TRSSF) reported on Wednesday (November 20) its financial results for the third quarter ending September 30, 2019.
As quoted in the press release:
Third Quarter 2019 Financial Highlights
Third quarter 2019 revenue increased 53% quarter-over-quarter to $26.8 million from $17.6 million in the second quarter of 2019 and compared with $1.8 million in the third quarter of 2018. Revenue growth was driven by higher overall sales in Canada as well as strong sales in the U.S.
Pro forma revenue1 for the third quarter of 2019 was approximately $44 million.
Gross profit for the third quarter of 2019 was $7.0 million, compared with $2.2 million in the second quarter of 2019 and ($0.6) million in the third quarter of 2018.
Adjusted EBITDA1 for the third quarter of 2019 was ($6.5) million, compared with ($8.7) million in the second quarter of 2019 and ($6.3) million in the third quarter of 2018.
As of September 30, 2019, the Company held $6.9 million in cash and cash equivalents. Subsequent to quarter end, the Company closed on two tranches of the previously announced non-brokered private placement for total proceeds of approximately $18.0 million.
Both locations expand access to the state’s widest-ranging inventory of medical cannabis products for Central Florida patients
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of two brand-new Central Florida dispensaries. The new Clearwater and Tampa locations mark the Company’s 81 st and 82 nd nationwide, respectively, widening patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.
Philip Young, CEO and Director of Lobe, stated, “We are honored to welcome Bart to our Advisory Board. His first-hand experience on and off the field are tremendously valuable as we continue our research involving mild traumatic brain injuries and PTSD. These issues are prevalent in contact sports and we believe that athletes will play a prominent role in the continued acceptance of psychedelic medicines as legitimate treatment. We look forward to working with Bart as we seek to forge long-term strategic relationships.”
HempFusion Wellness Submits Novel Foods Dossier to the United Kingdom’s Regulatory Food Safety Agency
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that it has submitted its dossier to the United Kingdom’s Regulatory Food Safety Agency (the “FSA”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210303005322/en/