Sproutly Announces Financial Results for the Second Quarter Of 2020
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct 30, 2019--
Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (OTCQB: SRUTF) (“ Sproutly ” or the “ Company ”) today announced the Company’s financial results for the second quarter ended August 31, 2019.
“We hit a key milestone in the second quarter as we completed our first commercial sale of cannabis flower, and followed that up with another milestone shortly after the end of the quarter” said Keith Dolo, Chief Executive Officer of Sproutly. “We were thrilled to receive our Flower Sales License from Health Canada effective October 16, 2019. This allows us to bring to market our dried flower products into the hands of recreational consumers throughout the country and commercialize our CALIBER brand of premium cannabis products. We anticipate more growth as we begin to generate revenue from the sales of our flower as we move into Q3. We continue to execute on our plans to achieving our goal of becoming a leader in the cannabis infused product category.”
Highlights for the Second Quarter Ended August 31, 2019
Conference Call and Webcast Information
Sproutly will host a conference call on Thursday, October 31, 2019 at 10:00 AM Pacific Time, 1:00 PM Eastern Time to answer questions about the Company’s financial highlights. The dial-in numbers for the conference call are 1-800-319-4610 (Canada/USA toll free) or +1-604-638-5340 (International). Please dial in 5 – 10 min prior to the scheduled start time.
Consolidated Financial Statements and Management’s Discussion and Analysis
The Company’s unaudited consolidated interim financial statements and accompanying notes as at and for the quarter ended August 31, 2019, and the Company’s Management’s Discussion and Analysis for the three months ended August 31, 2019 are available under the Company’s profile on SEDAR at www.sedar.com.
About Sproutly Canada, Inc.
Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.
For more information on Sproutly, please visit www.sproutly.ca.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the date of trading of the Sproutly Shares on the CSE and final regulatory approvals. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of Sproutly Canada. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191030006187/en/
CONTACT: Keith Dolo, Chief Executive Officer of Sproutly Canada
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: BIOTECHNOLOGY FOOD/BEVERAGE HEALTH RETAIL PHARMACEUTICAL
SOURCE: Sproutly Canada, Inc.
Copyright Business Wire 2019.
PUB: 10/30/2019 07:48 PM/DISC: 10/30/2019 07:48 PM