Geyser Brands (TSX.V: GYSR) this morning released its first quarter financial statements for the three months ended June 30, 2019. According to the update, the company generated its first revenues of $79,434 during the quarter and reported $64,690 in gross profit, representing an 81 percent gross profit margin. In addition, Geyser Brands announced that, in connection with its conditional approval of the Solace Management Group Inc. acquisition, it is submitting all information to the TSX Venture Exchange for review. “We have begun to operationalize our manufacturing and processing capabilities, generating our first revenues during Q1,” GYSR CEO Andreas Thatcher said in the news release. “We are continuing to explore new brand opportunities and develop our manufacturing capacity to position the company for rapid expansion as our remaining Health Canada licenses get awarded. I am excited about the many opportunities that have been presented to us for producing and distributing hemp-based products on a global basis. We look forward to delivering additional, high-margin revenue streams once our R&D and sales licensing are in place.”
To view the full press release, visit http://cnw.fm/J0huY
About Geyser Brands Inc.
Geyser Brand builds health-based hemp CBD consumer products in the nutraceutical, cosmetics, food & beverage and pet sectors world-wide. Geyser Brands owns a Health-Canada approved Licensed Producer (“LP”) in Port Coquitlam, BC that holds cultivation and processing licenses and is anticipating its R&D and sales licenses. Geyser Brands will utilize its GMP- licensed facilities in British Columbia for the manufacturing and distribution of its hemp and CBD-based products internationally. For more information, visit the company’s website at www.GeyserBrands.com.
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