SAN MATEO, Calif., July 22, 2021 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., today announced preliminary unaudited revenue for the second quarter of 2021 and provided a date for the release of the Company’s Second Quarter 2021 Results, Conference Call and Webcast.
Highlights:
- Reached $4.8M in preliminary unaudited net revenues for Q2 2021
- Achieved 92% quarter-over-quarter growth in net revenues
- Announced release of full second quarter results, conference call and webcast for August 4, 2021
PLUS preliminary and unaudited net revenues for the second quarter 2021 are expected to be approximately $4.8M, reflecting quarter-over-quarter growth of 92% as compared to $2.5M in Q1 2021 and year-over-year growth of 12% as compared to $4.5M in Q2 2020.
“We believe the successful transition to our self-service distributor, Nabis Distribution, along with an expanded internalized sales team in California contributed positively to our second quarter sales,” said Jake Heimark, CEO and Co-Founder of PLUS. “We look forward to continuing the momentum of a strong quarter in sales as we continue to launch consumer-focused special editions and core products that have made us one of California’s most well-known cannabis brands1.”
Conference Call Details
At 6:00pm Eastern Time / 3:00pm Pacific Time the same day, August 4, 2021, the Company will host a conference call and webcast to discuss the financial results and its recent corporate highlights.
Participant Dial-In Numbers:
Toll-Free: (866) 220-4156
Toll / International: (864) 663-5231
*Participants should request the Plus Products Earnings Call or provide conference ID: 7684223
The call will also be webcast at https://edge.media-server.com/mmc/p/9riujrjb. Please visit the website at least 15 minutes prior to the call to register, download, and install any necessary audio software. Following the conclusion of the call, there will be an archived audio webcast of the conference call available for replay on PlusProductsInc.com.
Jake Heimark, Co-founder and CEO, and company representatives will be conducting a question and answer session following the prepared remarks.
| (1) | According to PLUS’s – Brightfield Brand Health Survey – Wave 2: December 2020; N=1,535 CA edible consumers PLUS had the highest unaided brand awareness among edible users in California. |
About PLUS
PLUS is a cannabis and hemp branded products 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, CA.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Cole Stewart
Investor Relations
Cole@plusproducts.com
Tel +1 778.321.6324
Media:
plus@mattio.com
Mattio Communications
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: whether or not PLUS second quarter 2021 net revenues will reach $4.8 million; the extent to which, if at all, the transition to a self-service distributor, Nabis Distribution, along with an expanded internalized sales team in California contributed positively to PLUS second quarter sales; whether or not PLUS will continue the momentum of a strong quarter in sales and continue to launch consumer-focused special editions and core products that have made PLUS one of California’s most well-known cannabis brands.
These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
