Delta 9 Issues Q1 Fiscal Results
Delta 9 Cannabis (TSXV:NINE) released the financial results for the company during the first quarter of its fiscal 2018.
As quoted in the press release:
Highlights of the Company’s operations include:
- As of March 31, 2018 the Company had 21,693,847 in working capital on hand;
- The Company reported revenue of $332,107 from the sale of dried cannabis, an increase of 225 percent over the same period in the prior year;
- The Company also reported increased profits for the quarter at $202,695, an increase of 644 percent over the same period in the year prior.
Delta 9 also undertook significant investments during the reporting quarter, including an investment of $1,425,852 in the expansion of its cultivation facilities in Winnipeg by building and installing more of the Company’s proprietary, self-designed grow pods, and an investment of $3 million to acquire a 50 per cent equity interest in the Delta West cannabis production facility in Calgary, Alberta. The Delta West facility is a jointly owned venture with Westleaf Cannabis, but will operate under the Delta 9 license.