InvestorNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Releases Q1 2021 Financial Report, CFO Announcement

June 1, 2021 08:22:56
Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis- and hemp-branded products company, announced its unaudited financial and operational results for first quarter 2021. Highlights of the report include new revenues of $2.5 million, gross profits of $1 million, operating losses of $(2.4) million and a cash balance of $8.9 million in cash and cash equivalents for the period ending March 31, 2021. Corporate highlights for the same period included the signing of an exclusive sales agreement for hemp CBD products with Elements of Green, a European e-commerce marketplace; the announcement that PLUS’s Sour Watermelon UPLIFT gummies were LeafLink’s best-selling cannabis edible in the California market as well as one of the five best-selling edible products across all active markets; a partnership with CannRx Biosciences, a leading Israeli cannabis firm in the boutique field of cannabis-based botanical medicine; an expansion of the company’s sales team; and shareholder approval of proposed amendments to terms of the company’s Debentures. In addition, PLUS noted that Tessa Dowd, the company’s controller, will be taking over as CFO with the departure of Nathan Pearson. “At PLUS, 2020 was centered around reducing our cash consumption and shifting from a single brand to a portfolio of brands,” said Plus Product co-founder and CEO Jake Heimark in the press release. “We believe that we were successful in achieving each of these objectives and that PLUS is well positioned to pursue its goals in 2021 and beyond. These include further cementing the company’s status as a leading cannabis brand in its home market of California, which remains the largest cannabis market globally, along with exploring potential new geographies into which the company can expand.” To view the full press release, visit About Plus Products Inc. PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable — that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, California. For more information about the company, please visit NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at About InvestorWire

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