Emblem Cannabis (EMC)

[Diogenes of Sinope]

Emblem Corp. Reports 2018 First Quarter Results

Along with record sales and registered patient counts, our first quarter progressed rapidly in all areas as we focused on executing against our multi-year plan,” stated Nick Dean, President & CEO of Emblem Corp. “Our achievements reflect the talent of our growing and future-focused leadership team which included several key additions in production, marketing, operations and finance. We’ve been incredibly pleased with the quarter over quarter growth of our patient acquisition efforts as a result of our new seven-person sales team, working in parallel with GrowWise. Our oils now represent close to one third of our total patient sales. As we continue to introduce new dose-controlled formats and sizes to the market, we expect this trend will continue upward. We significantly strengthened our balance sheet and initiated plans to increase our annual capacity 10-fold to 17,000kg to serve the domestic and international medical markets, as well as the pending adult-use recreational markets. Reach and end-user access in these markets was enhanced through channel partners, provincial government applications, and key supplier agreements including Shoppers Drug Mart and Fire & Flower. Commencement of R&D activities for our oral sprays, gel capsules and sustained release formulations position us to deliver leading dosage precision formats and consistent user-experiences. As a leader in precision cannabis formulations and processes, we believe Emblem can achieve a most-trusted brand status in both medical and adult-use markets with its value-added advanced product lines.”

Highlights for the First Quarter of 2018

Generated $1.3 million in revenue
2,950 registered patients as at March 31, 2018
Cannabis oil sales represented 29% of Q1 patient revenue
Signed a key supplier agreement to become a medical cannabis supplier to Shoppers Drug Mart Inc.
$53.8 million financing increased cash balance to $83.8 million as at March 31, 2018
Purchased remaining 50% of GrowWise Health Limited
Progressed on expansion plans to increase annual capacity to approximately 17,000kg
Construction progressing on 30,000 square foot Phase 3 expansion at the Woodslee Production Facility with GMP extraction facility, laboratory and pharmaceutical production facility

Highlights Subsequent to the First Quarter of 2018

Invested in Fire & Flower Inc. and entered into 3-year preferred supplier agreement
Increased patient count 22% to approximately 3,600 patients at May 28, 2018 since March 31, 2018
Commenced R&D on oral sustained release formulations in collaboration with Canntab Therapeutics Limited (“Canntab”)
Commenced inventory build for legalization of adult-use recreational cannabis in Canada


https://ih.advfn.com/p.php?pid=nmona&article=77536718

EMC—-GLTA!