Fort Lauderdale, Aug. 20, 2018 (GLOBE NEWSWIRE) -- SanSal Wellness Holdings, Inc. (“SanSal Wellness” or the “Company”) (OTCQB: SSWH), a vertically-integrated agribusiness focused on producing full spectrum natural phytocannabinoid-rich industrial hemp extracts, today announced that the Company has reported its operating results for the three and six months ended June 30, 2018, through the filing of its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
Alexander M. Salgado, CEO and co-founder of SanSal Wellness, commented, “Over the last six months, SanSal Wellness and its newly-introduced Veritas Farms™ brand product line have made outstanding progress in building sales momentum to keep pace with the notable improvements we made from a production, processing, and formulation perspective. As a result of our talented and dedicated operations team and the implementation of expanded sales, marketing, and branding strategies currently underway, we are confident that this growth trend will continue throughout the remainder of 2018 and beyond.”
2nd Quarter 2018 Financial Highlights
• Record Sales of $487,169, up 47% from the previous quarter (Q1 2018) and up 106% from Q2 2017. • Record Gross Profit of $169,474, up from a gross loss of $62,252 in fiscal Q2 2017.
Six Month 2018 Financial Highlights
• Record Sales of $818,585, up 64% from $500,305 in 2017. • Record Gross Profit of $302,887, up 326% from $71,008 in 2017. • Inventory of $1,631,627, as of June 30, 2018, an increase of 14.2% from $1,428,758 at year end 2017
Mr. Salgado concluded, “We believe that SanSal Wellness is strongly positioned as a reliable production and formulation partner that can deliver the highest quality cannabinoid-rich industrial hemp extracts and finished products in consistently large volume. This strength combined with robust overall market growth, an improved regulatory outlook, and several new products coming out of our development pipeline, makes us confident that many new wholesale and retail consumers will discover SanSal Wellness and the Veritas Farms product line in the near future.”
SanSal Wellness and Veritas Farms brand full spectrum hemp extract products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, vape oils and pre-filled vape cartridges, and oral syringes in a variety of size formats and flavors. All SanSal Wellness and Veritas Farms brand products are third-party laboratory tested for strength and purity.
For additional information and product purchase, visit www.sansalwellness.com and www.theveritasfarms.com .
About SanSal Wellness Holdings, Inc.
SanSal Wellness Holdings, Inc. (OTCQB: SSWH) is focused on producing superior quality, whole-plant, broad spectrum phytocannabinoid-rich hemp oils and extracts. SanSal Wellness currently operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov .
SanSal Wellness Holdings, Inc. - IR/Media Contact Toll-Free: (888) 549-7888 E-mail: investors@sansalwellness.com
Cautionary Language Concerning Forward-Looking Statements
This SanSal Wellness Holdings, Inc. press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
