48North Cannabis Corp【NRTH】株式ニュース

48North Cannabis Corp. Announces Financial and Operating Results for 2020 Fiscal Year and Provides Q1 2021 Guidance

Financial and Operating Highlights for Full Year Fiscal 2020 and Subsequent Events:

Revenue of $10.5 million, marking a 117% increase from fiscal 2019
For Q4 2020, revenue totaled $4.5 million, a 65% increase from Q3 2020

Revenue for Q1 2021 is expected to be $7 million, which represents 67% of fiscal 2020 yearly net revenues, and a 58% increase from Q4 2020

At the end of fiscal 2020, 48North had $9.3 million in cash and cash equivalents on hand

Since June 2019, 48North has launched 26 SKUs in the Canadian adult-use recreational cannabis market.

48North launched products ranging in form from vaporizers, topicals, pre-rolls, and intimacy goods.

48North's facilities are now built out and licensed. At delshen, the Company's premium indoor cannabis facility located in Kirkland Lake, 48North consistently cultivates best-selling cannabis. At Good:House, 48North successfully completed the build out of Phase 2, subsequently the Company received all of the necessary licenses from Health Canada. And finally, at Good:Farm, the Company successfully completed and received licensing for the build out of its state-of-the-art drying barn giving the Company the required space to process the cannabis planted at Good:Farm

At Good:Farm, 48North illustrated the importance of outdoor cultivation with one of the first and largest outdoor cannabis facilities in Canada. The company's 2019 Good:Farm harvest contributed to the low-cost for development of many of 48North's next-generation cannabis products, including: vaporizers, topicals, and flower. In preparation for its second season, the Company transformed the farm into a regenerative organic farm, implemented lessons learned from its first season, and early indicators point to a very successful crop

48North signed a number of supply agreements and strategic partnerships with cannabis brands and provincial boards, including; BC Cannabis Stores, Liquor, Gaming & Cannabis Authority of Manitoba, Saskatchewan Liquor & Gaming Authority, Medical Cannabis by Shoppers Drug Mart Inc., Apothecanna, Pax, and Indigo

48North launched two additional recreational cannabis brands:

Trail Mix: Building on the Company's belief that high-quality cannabis experiences should be available to all, 48North's low-cost production advantage allows the Company to produce this brand at competitive pricing. Looking ahead, Trail Mix will include: additional Pax products, all-in-one disposable pens, dried flower, and pre-rolls

Latitude: Latitude builds on the successful 2018 launch of LAT, an interactive, omni-channel platform that empowers women to connect, engage and share their personal stories with cannabis. This brand responds to a market need for the industry to support customers seeking new ways to reset, rejuvenate and live well. Launching products in a variety of different categories ranging from sexual wellness to beauty and beyond
48North was awarded a Canadian Marketing Award for its innovative approach to marketing cannabis in a highly regulated marketplace

https://www.newswire.ca/news-releases/48north-cannabis-corp-announces-financial-and-operating-results-for-2020-fiscal-year-and-provides-q1-2021-guidance-868775192.html

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