- Geyser Brands’ first revenues of $79,434, generated during Q1 2019, represent a gross profit margin of 81 percent
- The company is nearing final TSX Venture Exchange conditional approval of its transaction to acquire Solace Management Group Inc.
- Geyser Brands subsidiary Apothecary Botanicals has received a standard processing license from Health Canada, which will allow the company to extend its CBD products to the regulated Canadian consumer medical market
Geyser Brands Inc. (TSX.V: GYSR), a global science-led consumer health care company that builds and markets some of the world’s most loved cannabis products and brands, continues to achieve its stated strategic goals. Financial statements for the three months ended June 30, 2019, show Geyser Brands reporting revenues of $79,434, representing an 81 percent gross profit margin.
“We have begun to operationalize our manufacturing and processing capabilities, generating our first revenues during Q1. 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,” CEO Andreas Thatcher stated in a news release (http://cnw.fm/Kl8Qm). “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.”
As a licensed producer in Canada under the Cannabis Act, Geyser operates a production and processing facility in Port Coquitlam, British Columbia, developing unique products for healthy lifestyle brands (http://cnw.fm/4leF5). The company’s wholly owned subsidiary, Apothecary Botanicals, recently received a standard processing license from Health Canada, which Thatcher characterized as “a huge milestone” for the company.
“The license allows us to add value to existing consumer health care brands by providing them the platform to add CBD,” Thatcher stated in a news release (http://cnw.fm/qmQS3). “It also reflects our business model to focus our licensed producer on delivering scale through manufacturing and distribution for brand companies.”
An earlier announced acquisition of Solace Management Group Inc. is also moving ahead on target. Geyser Brands is working to provide the TSX Venture Exchange with the necessary documents and anticipates receipt of final approval shortly, the company stated. Solace, which carries a dynamic portfolio of both pet and consumer health care goods, is situated in a new, 7,500 square foot, GMP-compliant manufacturing facility, which is expected to increase production capacity of its hemp-related human and pet products by up to tenfold (http://cnw.fm/6sjLf).
Geyser Brands creates hemp and cannabis products and brands for the nutraceutical, cosmetics, food and beverage and pet sectors. Its proprietary nanotechnology formulation, termed ‘NanoFusion Technology’, solves the insolubility problem of most hemp and cannabis products with an advanced delivery system that quickly and efficiently transports therapeutic agents directly to the bloodstream for maximum absorbency (http://cnw.fm/t8PWw).
For more information, visit the company’s website at www.GeyserBrands.com
NOTE TO INVESTORS: The latest news and updates relating to GYSR are available in the company’s newsroom at http://cnw.fm/GYSR
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