Delta 9 Cannabis (TSX: DN) (OTCQX: VRNDF) on Thursday reported financial and operating results for the three months ending March 31, 2020. Among other highlights from the first quarter 2020, the company reported operating revenues of $11.75 million for the period, representing an increase of 109% from $5.63 million for the same quarter of the previous year. Delta 9 CEO John Arbuthnot and CFO Jim Lawson hosted a conference call to discuss the results on May 15 at 9:00 AM ET. A replay of the call will be available until August 15, 2020. To listen to the replay, dial 1-877-674-6060 and use the password 634784#. “We were fortunate to be able to maintain continuous operations of our retail stores, wholesale and business to business (‘B2B’) business units throughout the COVID-19 crisis. This allowed Delta 9 to be one of the few cannabis companies in Canada to report positive net income and adjusted EBITDA results,” Delta 9 CEO John Arbuthnot stated in the news release. “Our company was able to generate increases in sequential quarterly revenue and strong performance in our retail and B2B segments and a general rebound in our wholesale business volumes and wholesale average selling prices.”
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About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “VRNDF”. For more information, visit the company’s website at www.Delta9.ca.
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