VANCOUVER, BC, January 7, 2021 / PRNewswire / – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (an “Company“,”Hollister Cannabis Co.. “no”Hollister“) a mixed cannabis branding company with results in over 280 dispensaries across California, and more than 90 dispensaries throughout Arizona, is pleased to provide an update on its performance Q4, 2020.
Q4 2020 Update
For the time to begin October 1stst, 2020 and ending December 31stst, 2020, Hollister reports that it generated quarterly revenue in excess of CDN $ 14.93 million and CDN $ 2.53 million in EBITDA from its product line of pre-rolls, concentrates, distillates, unresolved bubble hash, pre-packaged flour, tinctures and vape products. The Company warns that EBITDA’s revenue and figures have not yet been audited and are based on reports prepared by the management.
“We are delighted with our ability to deliver higher quarterly revenues in such a challenging market environment. We attribute our revenue growth to further inflation of the California and Arizona successful launch of dispensary networks and new products with our joint venture partners. Sales of cannabis-related products continue to show flexibility across COVID-19 pandemics. We hope to continue this positive trend until 2021 “he said Ailig Somjen, President.
The Venom Sections (“Venom“) branded product line spread throughout Arizona has been a key tool for the Company’s revenue growth. Mar de March 26thth, 2020 (see press release date March 30, 2020), Hollister Biosciences found Venom. Since it closed, in the following three quarters, Venom has surrounded it CDN $ 38 million to the company’s 2020 revenue. In the full year of 2020, Venom shares generated more than CDN $ 40 million in income (and CDN $ 4.9 million in modified EBITDA), up from CDN $ 16.4 million in 2019 saw a 144% year-over-year revenue increase, ending this year with the highest month of sales for December as a whole around CDN $ 5.5 million.
Venom Extracts sold more than 4 million grams of produce by 2020, accounting for up to 30 percent of department sales nationwide Arizona. The brand is set for continued growth in Arizona with the recently passed adult use legislation, and seeks to expand into it California and benefit from the company’s infrastructure and sales network of over 280 dispensaries. Marijuana Business Daily is projecting that Arizona’s entertainment market could up to $ 400 million in his first year ‘s income and more $ 700 million ro 2024.
In addition to Venom sections, Hollister’s HashBone pre-rolls are the No. 1 hash-infused pre-roll California and one of Hollister’s signature results. The company recently acquired a trading license for the HashBone brand in December. These high hash-infused rolls feature an artisan blend of 75 percent off-the-shelf flour and 25 percent cold water bubble hash. Hollister added a new HashBone Minis line in April 2020. HashBone is now available in 280 treatment centers across California, an increase of 40% from 2019.
In addition to higher revenue growth, the company continued to focus on key growth areas; increasing current product margins, expanding product entry and in-store inbound sales California and Arizona, while continuing to diversify and expand their flagship product portfolio. Some of these efforts include agreements concluded with Tommy Chong’s Cannabis (See dated press release February 7, 2020) and EasyRiders (See press release date December 15thth, 2020) to add to the company ‘s brand suite as well as launch the Dreamy Delivery direct – to – use platform (see updated press release December 22ndnd, 2020) into San Francisco and Sacramento, and ongoing supply chain developments are reviewed to improve operational efficiency and profit margins by controlling input and manufacturing.
The company looks forward to implementing its business plan and growth targets in 2021 and beyond.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a multi-state cannabis company. with a vision to be a leading brand care of innovative cannabis & cannabis products. Hollister using a high margin model, controlling the entire process from manufacturing to sales to circulation or seed to shelf. Results are from Hollister Biosciences Inc. includes HashBone, the brand’s main hash-infused artisanal pre-roll, along with compaction (shake, budder, crumble), distillates, unresolved bubble hash, pre-packaged flour, pre-rolls, tinctures , vape products, and full-spectrum CBD pet tinctures. Tha Hollister Cannabis Co. additionally offers white label manufacturing of cannabis products. In full possession California Hollister Cannabis Co. is a subsidiary of the first state and locally licensed cannabis company in a city Hollister, CA. birthplace of the “American Biker”.
Website: www.hollistercannabisco.com
Neither the CSE, nor the provider of regulatory services, is responsible for the suitability or accuracy of this press release.
Forward-looking Information: This press release contains specific statements which may be construed as “forward-looking statements”. The use of any of the words “expect”, “follow”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar phrases with a view to identifying positive statements. While the Company considers the expectations and assumptions on which the forward-looking statements are based to be reasonable, the forward-looking statements should not be relied upon as the Company cannot give an assurance. any give that they will be right. As forward-looking statements deal with future events and conditions, by their nature they involve risks and uncertainties. These statements speak only from the date of this press release. Actual results may differ significantly from those currently expected due to a number of factors and risks including various risk factors which have been discussed in the Company’s published disclosure documents. under the Company profile on www.sedar.com
This press release includes a reference to “EBITDA” and “EBITDA modified”, which are non-international financial measures (“IFRS”). Non-IFRSs are not recognized measures under IFRS, they do not have a standard meaning prescribed by IFRS and therefore do not tend to resemble similar measures that other companies exhibit. The Company defines EBITDA as earnings before interest, tax, depreciation and impairment. Enhanced EBITDA is defined as EBITDA modified by the removal of non-recurring or non-recurring items, including the unrealized change in fair value and changes in the fair value of the investment. sold in the period, allowance-based compensation costs, depreciation of right-to-use assets, revaluation adjustments of financial assets and liabilities measured at fair value and non-recurring trading costs taken into account. into operating costs. EBITDA and revised EBITDA do not have direct IFRS financial measures. The Company has used or introduced these non-IFRS measures solely to provide investors with additional insight into the Company’s financial performance. Readers are cautioned that such a non-IFRS measurement may not be appropriate for any other purpose. Non-IFRS measures alone or in place of performance measures prepared in accordance with IFRS should not be considered.
Hollister Biosciences Inc.
