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PORTLAND, Ore., Oct. 06, 2021 (GLOBE NEWSWIRE) — Chalice Manufacturers Ltd. (CSE: CHAL) (OTCQB: CHALF) (“Chalice” or the “Firm”), a premier consumer-driven hashish firm specializing in retail, manufacturing, processing, wholesale, and distribution, as we speak pre-announces its monetary and working outcomes for the third quarter 2021. All quantities said are in US {Dollars} until in any other case famous.
Third Quarter Preliminary Unaudited Monetary Highlights:
- Report quarterly revenues of $8.0 million, a 31% year-over-year enhance in comparison with $6.1 million for a similar interval in 2020. This whole displays a full quarter of revenues from the Firm’s Homegrown Oregon shops however solely $0.1 million of revenues associated to Cannabliss.
- Estimated gross revenue margin for the second quarter 2021 of $3.7M or 46% gross margin in comparison with $2.1M or 34% in 2020. Gross margin enhancements are attributable to continued development in gross sales of vertical merchandise manufactured by Chalice and elevated third get together processing revenues.
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“I’m happy with our group’s efficiency as we proceed our year-over-year income development within the third quarter,” stated Jeff Yapp, Chief Government Officer and President. “By sustaining our give attention to worthwhile operations and the accretive acquisition of Homegrown Oregon, the Firm has instantly impacted the vertical contribution throughout the new shops forward of schedule. The Chalice group is energized by our strategic mission to capitalize on untapped alternatives in Oregon and different states with vital room for consolidation, synergies, and vertical leverage.”
The Firm will present its full third quarter monetary report on the subsequent earnings name, to be introduced at a later date.
About Chalice Manufacturers Ltd.
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Chalice Manufacturers is a premier consumer-driven hashish firm specializing in manufacturing, processing, wholesale, distribution and retail, with twelve dispensaries owned and 4 dispensaries below administration in Oregon. The Firm is dedicated to creating a dynamic portfolio constructed across the acknowledged manufacturers of Chalice Farms, with a give attention to well being and wellness. Chalice operates nationally via Fifth & Root and has operations in Oregon and California.
Go to investors.chalicebrandsltd.com for normal updates.
Investor Relations:
John Varghese
Government Chairman
Chalice Manufacturers Ltd.
971-371-2685
ir@chalicebrandsltd.com
Neither the Canadian Securities Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the Trade) accepts accountability for the adequacy or accuracy of this launch.
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Disclaimer: This press launch accommodates “forward-looking info” throughout the which means of relevant securities laws. Ahead-looking info contains, however just isn’t restricted to, statements with respect to the Firm’s future enterprise operations, together with the proceeds from the Providing, using the proceeds from the providing, the opinions or beliefs of administration and future enterprise targets. Typically, ahead trying info may be recognized by means of forward-looking terminology resembling “plans”, “expects” or “doesn’t anticipate”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “would possibly” or “might be taken”, “happen” or “be achieved”. Ahead-looking info is topic to recognized and unknown dangers, uncertainties and different components which will trigger the precise outcomes, degree of exercise, efficiency or achievements of the Firm to be materially completely different from these expressed or implied by such forward-looking info. These dangers embody however aren’t restricted to basic enterprise, financial and aggressive uncertainties, regulatory dangers, market dangers, dangers inherent in manufacturing and retail operations resembling unexpected prices and manufacturing shutdowns, difficulties in sustaining model loyalty, and different dangers of the hashish trade. Though the Firm has tried to establish necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There may be no assurance that such info will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on ahead trying info. Ahead-looking info is offered herein for the aim of presenting details about administration’s present expectations referring to the longer term and readers are cautioned that such info is probably not acceptable for different objective. The Firm doesn’t undertake to replace any forward-looking info, besides in accordance with relevant securities legal guidelines. This press launch doesn’t represent a suggestion of securities on the market in the US, and such securities is probably not provided or offered in the US absent registration or an exemption from registration or an exemption from registration.
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