Cannabis
CENTR Brands Corp. Announces Q1 2022 Results
Vancouver, British Columbia–(Newsfile Corp. – November 2, 2021) – CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF) (the “Company“) today announced its financial results for the quarter ended August 31, 2021. Selected comparative financial information is set forth below with the full financial statements for the quarter and the related management’s discussion and analysis (“MD&A“) available under the Company’s SEDAR profile at www.sedar.com. All amounts are expressed in United States Dollars, unless otherwise stated:
Q1 2022 |
Q1 2020 |
|
Gross sales | 981,092 | 209,591 |
Net sales | 920,116 | 133,414 |
Net and comprehensive loss for the period (1) |
(3,041,710) | (786,103) |
Net loss and diluted loss per share | (0.05) | (0.01) |
(1) Q1 2022’s net and comprehensive loss for the period includes non-cash losses of $2,019,519 for the revaluation of warrants as a liability for accounting purposes.
“CENTR’s growth will come from multiplying the points of distribution (“PODs”) that sell our products,” said Company CEO Joseph Meehan. “POD growth is directly related to increasing sales of CENTR and CENTR Sugar Free.”
CENTR and CENTR Sugar Free are currently sold in 2000+ PODs across the United States. According to the National Retail Federation, there are over 1,000,000 U.S. retail locations. “We are working with our distribution partners to open the tens of thousands of PODs that want to sell CENTR now – this is the engine that will drive our growth,” Meehan said.
About CENTR Brands Corp. CENTR Brands Corp. develops and markets non-alcoholic, functional ingestibles for the global market. The Company produces CENTR and CENTR Sugar Free, both sparkling, low calorie, CBD beverages as well as CENTR Instant, a family of on-the-go CBD powders. For more information visit www.findyourcentr.com, and follow on Instagram at @findyourcentr.
For further information, contact Joseph Meehan at [email protected].
On behalf of the Board,
CENTR BRANDS CORP.
/s/ Joseph Meehan
Joseph Meehan, Chairman & Chief Executive Officer
This press release may contain “Forward-Looking Statements” within the meaning of applicable Canadian securities laws. Actual results may differ from those indicated as a result of finalization of the Company’s financial statements as well as other risks and uncertainties. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101673
Cannabis
Sannabis, Inc. (OTC: USPS) Announces First Shipment of Cannabis Essential Oil from Colombia to U.S. to Fill First Order, as the DEA Re-Classifies Marijuana from Schedule I to Schedule III
Cannabis
Technological Advancements in Breathalyzers Drive Market Growth and Enhance Road Safety
Cannabis
Bay Area Social Equity Operator Launches the Purple Raina Balm Wand 1:1, an Inclusive Multipurpose Cannabis Topical
-
Cannabis2 weeks ago
Sannabis, Inc. (OTC: USPS) Unveils Innovative NO LICK! Terpene Spray for Cannabis Products to Enhance CBD and THC to Achieve the Entourage Effect
-
Cannabis2 weeks ago
Cannabis Concentrate Market to Cross US$2.4 Billion by 2030 amid Rising Medical and Recreational Demand
-
Innocan1 week ago
Innocan Pharma Initiates FDA Approval Process for Liposome Injection Therapy for Chronic Pain
-
Curaleaf1 week ago
Curaleaf Completes Acquisition of Northern Green Canada
-
Cannabis1 week ago
Cannabis Capsule Global Analysis Report 2024: Market to Reach $79.2 Billion in 2028 – Forecast to 2033 Featuring GW Pharmaceuticals, Trulieve Cannabis, Green Thumb Industries, Tilray, Columbia Care
-
SCHWAZZE3 days ago
Schwazze Sets First Quarter 2024 Conference Call for May 15, 2024 at 5:00 p.m. ET
-
Cannabis2 days ago
Technological Advancements in Breathalyzers Drive Market Growth and Enhance Road Safety
-
Humboldt2 days ago
Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace