“This was an important moment for our teams to demonstrate their ability to replace the Plus business with existing and new-to-market brands. We have taken the first step in refocusing the Calyx business and adding a more tailored service offering.” commented
Key Highlights from Record-Setting December:
- Gross Revenue for brands excluding Plus Products exceeded US
$300,000 for first time, with an average gross margin of approximately 15%. - 32 new retail accounts opened
- Record number of customer orders delivered for brands excluding Plus representing a 30% increase over
November 2019 - Selected brand sales increases in December versus
November 2019 - Punch Edibles (+236%)
- Guild Extracts (+190%)
Hella Dank (+85%)Gold Coast (+67%)- Somatik (+49%)
- St Ides Blunts (+38%)
- Smooth (+33%)
- Punch Edibles (+236%)
As reported in December, Calyx is implementing a number of steps to reduce costs while restructuring its offerings to better service current brands and attract major brand partners in 2020. This will include lower cost, fulfillment-only services, as well as an expanded menu of account acquisition and activation services. Calyx, remains focused on being a leading distributor providing its brand partners with access to the worlds’ largest cannabis market.
Furthermore, as announced on
About
The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry.
For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow
For further information, please contact:
Chairman of the Board
647-985-6727
Email: dposner@nutritionalhigh.com
Director, Investor Relations
416-777-6175
Email: ethan@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The statements relate to general business environment expectations, completion or timing of the strategic review, the ability of Calyx to become cash flow positive and the success of expanding the Company's manufacturing and brand development. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
The Company's securities have not been registered under the
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing
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