Hollister Biosciences Inc. Provides Update on Q2 2020 Performance and Announces Distribution License Renewal
BY PR Newswire
— 7:55 PM ET 07/14/2020
VANCOUVER, BC, July 14, 2020 /PRNewswire/ - Hollister Biosciences Inc. ( HSTRF
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) (OTC: HSTRF) (the "Company", "Hollister Cannabis Co." or "Hollister") a diversified cannabis branding company with products in over 230 dispensaries throughout California, and over 80 dispensaries throughout Arizona, is pleased to provide an update on its Q2, 2020 performance as well as announce that the Bureau of Cannabis Control ("BCC") officially renewed its cannabis distribution license for the next year through August 2021.
Q2 2020 Update
For the period beginning April 1st, 2020 and ending June 30th, 2020, Hollister reports that it generated record quarterly revenue of CDN$ 11.5 million and CDN$ 1.375 million in EBITDA from its product line of pre-rolls, concentrates, distillates, solvent-free bubble hash, pre-packaged flower, tinctures and vape products. The Company cautions that revenue and EBITDA figures have not yet been audited and are based on reports prepared by management.
"We are very pleased with our revenue growth year to date. Sales of cannabis related products have proven to be resilient throughout the COVID-19 pandemic. We hope to continue to deliver strong results as the year progresses" stated Carl Saling, CEO.
