CannTrust™ Reports Record Revenue for Q3 2018 - Taking Steps to List on the New York Stock Exchange - RICH TV LIVE - NOVEMEBR 15, 2018 - CannTrust Holdings Inc. ("CannTrust" or the "Company" | TSX: TRST), a licensed producer of medical and recreational cannabis under the Cannabis Act and its regulations, today announced financial and operating results for the three and nine months ending September 30, 2018. All amounts expressed are in Canadian dollars.
CannTrust logo (CNW Group/CannTrust Holdings Inc.)
Revenue for the three and nine month periods ended September 30, 2018 was $12,588,727 and $29,478,813 respectively, compared to $6,140,224 and $13,714,847 in the comparable 2017 periods. Net Income for the three and nine month periods ended September 30, 2018 was $421,240 and $11,968,255 respectively, compared to a net income of $655,309 and $632,269 in the comparable 2017 periods. Earnings per share for the three and nine month periods ended September 30, 2018 was $Nil and $0.12 respectively, compared to earnings per share of $0.01 and $0.01 in the comparable 2017 periods.
2018 Third Quarter Highlights
Record revenues of $12.6M in Q3 2018, a 105% increase from the comparable prior year period
Operations for the quarter resulted in positive EBITDA and positive net income
Active patients increased to more than 50,000, a 61% increase from the comparable prior year period
Entered into supply agreements with 9 Canadian provinces to supply recreational cannabis across Canada
Launched a fourth recreational brand: Peak Leaf
Made our first shipment of cannabis oil to Denmark – the only cannabis oil accepted in Denmark
Partnered with Australia's Gold Coast University Hospital on a six-month study designed to evaluate the efficacy of CannTrust CBD capsules in slowing the progression of Amyotrophic Lateral Sclerosis (ALS) progression
Partnered with McMaster University on medicinal cannabis research for chronic pain and for designing more effective, safer treatment protocols in public health policies
Developments subsequent to the Quarter
Invested in National Access Cannabis Corp ("NAC"), a Canadian cannabis retailer
Entered into an exclusive partnership agreement with Kindred Partners Inc., a wholly-owned Canadian subsidiary of Breakthru Beverage Group, the largest Canadian beverage alcohol broker, to provide sales support for recreational products and to subscribe for 902,405 common shares for gross proceeds of $9.2M
Expanded our global reach by entering into a strategic partnership with Australian licensed producer, Cannatrek Ltd ("Cannatrek"), with plans in place for construction of a 1.7 million square-foot greenhouse facility
Acquired a 19.4 acre property adjacent to our Niagara Greenhouse Facility which allows us to expand production capacity
Strengthened our Management Team and Board of Directors
Subscribe - https://www.youtube.com/c/RICHTVLIVE
Visit - http://www.richtvlive.com/ a one-stop shop for cryptocurrency, stocks, sports, travel and trending topics. #richtvlive #canntrust #cannabis
Join the RICH TV LIVE FREE Social Media Community - Download the Amino app on your phone or computer and follow the link - https://aminoapps.com/c/RICHTVLIVE/home/
Join the Conversation get the RICH TV LIVE app at Google Play - https://play.google.com/store/apps/details?id=com.app.richtvlive
iPhone App Store - https://itunes.apple.com/us/app/richtvlive/id1212158240?Is=1&mt=8
Popular Uploads - https://goo.gl/tbvXGg
Most Recent Upload - https://goo.gl/unKXBy
YouTube Channel Page - https://goo.gl/yUdG7w
Subscribe - https://goo.gl/q2tLnn
Rich TV Live Playlist - https://goo.gl/e116JF
YouTube support Tubebuddy - https://www.tubebuddy.com/RICHTVLIVE
Rich TV's company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich TV reports company profiles or other investor relations materials and presentations are subject to change. Rich TV and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.
Investing is inherently risky. Rich TV is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.
We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov.