NetworkNewsBreaks – BevCanna Enterprises Inc. (C
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Posted On: 11/30/2021 2:59:34 PM
NetworkNewsBreaks – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Releases Q3 2021 Report Showing 1,000% Increase in Revenues
BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), an emerging leader in innovative health and wellness beverages and products, has released its unaudited financial results for the quarter ended Sept. 30, 2021; all numbers are in Canadian dollars. Among the highlights include a revenue growth figure of $1.1 million, which represents more than a 1,000% increase over the $94,000 reported in the same quarter last year. In addition, the company noted gross profit of $356,168 during Q3 2021, compared to a loss of $40,280 for Q3 2020. BevCanna closed the quarter with cash reserves of $655,563. Business highlights include a definitive agreement outlining the proposed acquisition of Embark Health Inc., a leader in solventless cannabis extraction and enhanced-delivery technology, and a second definitive agreement with the Tinley Beverage Company Inc. to comanufacture its award-winning cannabis-infused beverages for the Canadian market. BevCanna also saw product listing and purchase orders from British Columbia Liquor Distribution Branch (“BCLDB”), Alberta Gaming and Liquor Commission and Ontario Cannabis Store. “As we closed out the third quarter, we delivered impressive revenue growth of more than 1,000%, achieving $1.1 million in sales, compared to $94,000 in the year ago quarter,” said BevCanna chief financial officer John Campbell in the press release. “Our third-quarter results are further evidence of the company’s continued execution and the impact that our brands are having on the market. Our unique and diverse portfolio continues to expand, and with the impending close of our acquisition of Embark, will include an even wider range of adult-use and wellness channels and innovative product categories.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), an emerging leader in innovative health and wellness beverages and products, has released its unaudited financial results for the quarter ended Sept. 30, 2021; all numbers are in Canadian dollars. Among the highlights include a revenue growth figure of $1.1 million, which represents more than a 1,000% increase over the $94,000 reported in the same quarter last year. In addition, the company noted gross profit of $356,168 during Q3 2021, compared to a loss of $40,280 for Q3 2020. BevCanna closed the quarter with cash reserves of $655,563. Business highlights include a definitive agreement outlining the proposed acquisition of Embark Health Inc., a leader in solventless cannabis extraction and enhanced-delivery technology, and a second definitive agreement with the Tinley Beverage Company Inc. to comanufacture its award-winning cannabis-infused beverages for the Canadian market. BevCanna also saw product listing and purchase orders from British Columbia Liquor Distribution Branch (“BCLDB”), Alberta Gaming and Liquor Commission and Ontario Cannabis Store. “As we closed out the third quarter, we delivered impressive revenue growth of more than 1,000%, achieving $1.1 million in sales, compared to $94,000 in the year ago quarter,” said BevCanna chief financial officer John Campbell in the press release. “Our third-quarter results are further evidence of the company’s continued execution and the impact that our brands are having on the market. Our unique and diverse portfolio continues to expand, and with the impending close of our acquisition of Embark, will include an even wider range of adult-use and wellness channels and innovative product categories.”
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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