NetworkNewsBreaks – Supreme Cannabis Company Inc
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Posted On: 08/13/2019 4:38:53 PM
NetworkNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Expects Positive Q4 Results, Provides Guidance for Fiscal 2020
Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this morning announced its projected revenue for the fiscal fourth quarter ended June 30, 2019 and provided guidance for fiscal 2020. Per the update, the company anticipates net revenue of about $19 million and positive adjusted EBITDA for the fourth quarter 2019. Supreme Cannabis also expects sustained revenue growth during 2020 as its wholly owned subsidiary 7ACRES scales production, new and higher-margin products are introduced, and additional brands start producing material revenue. The company plans to release audited fourth quarter and annual results on September 17, 2019. “Our company has taken deliberate steps to grow in a focused, responsible and compliant manner, building a strong core business and an authentic brand and then expanding into new lines of business and international markets,” Supreme Cannabis CEO Navdeep Dhaliwal stated in the news release. “In a sector dominated by headlines, our measured approach to capital deployment and brand-building sets us apart. We believe our preliminary results demonstrate the strength of our business during an inflection point within the industry, path towards profitability and continued disciplined growth. Looking forward, we remain focused on building our portfolio of premium consumer experience driven brands.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this morning announced its projected revenue for the fiscal fourth quarter ended June 30, 2019 and provided guidance for fiscal 2020. Per the update, the company anticipates net revenue of about $19 million and positive adjusted EBITDA for the fourth quarter 2019. Supreme Cannabis also expects sustained revenue growth during 2020 as its wholly owned subsidiary 7ACRES scales production, new and higher-margin products are introduced, and additional brands start producing material revenue. The company plans to release audited fourth quarter and annual results on September 17, 2019. “Our company has taken deliberate steps to grow in a focused, responsible and compliant manner, building a strong core business and an authentic brand and then expanding into new lines of business and international markets,” Supreme Cannabis CEO Navdeep Dhaliwal stated in the news release. “In a sector dominated by headlines, our measured approach to capital deployment and brand-building sets us apart. We believe our preliminary results demonstrate the strength of our business during an inflection point within the industry, path towards profitability and continued disciplined growth. Looking forward, we remain focused on building our portfolio of premium consumer experience driven brands.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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