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Supreme Cannabis Announces Q2 2020 Financial Results And Updated Plan For Accelerated Revenue Growth

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Supreme Cannabis Announces Q2 2020 Financial Results and Updated Plan for Accelerated Revenue Growth

Ryan Allway

February 13th, 2020

App, News, Top News

 

Focuses business on accelerated, near-term revenue growth with enhanced, coast-to-coast sales partnership with humble+fume Enhanced cost structure and near-term revenue generating opportunities expected to drive profitable growth Reports 17% year-over-year net revenue growth and maintains a strong liquidity position with total cash and restricted cash balance of $55 million with $35 million of undrawn capacity on the Company’s Credit Facility TORONTO, February 13, 2020 – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced its financial and operating results for the three and six months ended December 31, 2019, as well as an update on its strategy and outlook.

As announced on February 11, 2020, Supreme Cannabis has implemented a new operating structure, including staff reductions, to drive efficiencies and support long-term, profitable growth. With an optimized cost structure in place, the Company is moving forward with its strategy to transition to a premium cannabis CPG company, driving near-term revenue with new high-quality brands and products at every price segment. This expanded, consumer-facing brand portfolio is being supported by an innovative sales model that achieves comprehensive distribution across Canada.

Source: https://www.cannabisfn.com/supreme-cannabis-announces-q2-2020-financial-results-and-updated-plan-for-accelerated-revenue-growth/

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