True Leaf Brands had an eventful quarter, as its most recent financial report shows.
The cannabis company saw its best quarterly revenue growth to date with a 70 per cent increase in its pet division over the course of its second fiscal quarter.
The quarterly report comes less than two weeks after the company secured its licences from Health Canada to operate its 18,000-square-foot facility in Lumby. The licences allow the True Leaf Campus to begin cultivating and producing cannabis products for medical purposes immediately.
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香蕉视频直播淭rue Leaf is proud to report its strongest quarter in the Company香蕉视频直播檚 history,香蕉视频直播� founder and CEO Darcy Bomford said.
Bomford credited the strong quarter in part to the successful rollout of the company香蕉视频直播檚 expanded pet-care product lines, and to improved results from its global operations.
香蕉视频直播淐ontinuing to execute on our global growth plans has allowed us to meet the high demand for our products in key markets like Europe.香蕉视频直播�
The company is currently seeking a joint venture partner to purchase part of the True Leaf Campus, allowing the company to 香蕉视频直播渓ock in a supply of CBD for our pet products and secure a return on our investment,香蕉视频直播� Bomford said.
While money is coming in, the company acknowledged the growing pains within the cannabis industry and the need to cut costs effectively.
香蕉视频直播淐ost-saving measures have been made across both divisions,香蕉视频直播� Bomford said. 香蕉视频直播淲e expect to realize savings immediately and improve upon them going forward.香蕉视频直播�
True Leaf香蕉视频直播檚 operating expenditures totalled more than $2.2 million this quarter 香蕉视频直播� a shade over their first quarter expenditures.
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