Tweed Marijuana releases key fourth quarter summary and provides operational update

 

SMITHS FALLS, ON, Feb. 18, 2015 /CNW/ - Tweed Marijuana Inc. ("Tweed Marijuana" or "the Company") parent company of licensed medical marijuana producers Tweed Inc. (Tweed) and Tweed Farms Inc. (Tweed Farms) is pleased to announce fourth quarter (Q4) revenue figures for the 3-month period ended December 31st, 2014 and provide operational updates. Q4 revenue was $641,309, led by $357,142 in the month of December. There were 87,138 grams sold during the quarter, giving a gross margin in Q4 of 36.0% up from 23.6% in the previous quarter.

The processing area at Tweed continues to manage an increasing volume of orders, which as of February 17th totaled just over 75,000 grams sold and shipped, calendar year-to-date. Weekday orders have been shipped within one day of ordering over 90% of the time in 2015, and a recently completed processing area will allow Tweed to maintain this service standard as the business expands its customer base.

In order to service new clients and support Tweed's continued growth, the Company has completed the build out of three additional growing rooms and an in-house laboratory within the 168,000 sq. ft. licensed facility operated by Tweed at 1 Hershey Drive in Smiths Falls, Ontario.

The in-house laboratory, when approved, will allow for a more cost-effective testing process, while also giving Tweed the tools to analyze plants during every stage of the production process and optimize the reliability and quality of its final product.

With between nine and eleven strains continuously available, average order size and average price per gram have increased during December 2014 and year-to-date in 2015. Production and inventory levels from the indoor and greenhouse facilities harvested in late 2014 have been supported by three harvests to date in 2015 with ongoing harvests scheduled for both facilities.

"We invested in a large growing platform early so we could remove any customer onboarding roadblocks," said Bruce Linton, Chairman and CEO of Tweed. "This investment began to yield significant inventory in November, clients in December, and sustained growth to date. The volume of supply this market needs requires scale. Tweed has been an early leader in almost all respects in this sector, and I fully intend to continue this trend as we approach 3,000 patients."

Tweed Farms, the Company's second licensed subsidiary is in the midst of broad scale infrastructure enhancements. The entire Tweed Farms greenhouse, located in Niagara-on-the-Lake, Ontario is being transformed to meet the detailed specifications of the Marihuana for Medical Purposes Regulations. All told, the greenhouse will house approximately 340,000 sq. ft. of low-cost production space. Plans to add a large-scale processing facility in 2015 are already underway.

Full article:

https://ca.finance.yahoo.com/news/tweed-marijuana-releases-key-fourth-120000300.html

PS.  To think the marijuana craze was wild last year, and the likes of twd are probably still the go to names in the space and/or the ipos instead of the silly failed companies like miners trying to move into space via rto.  lol, shame on them, shame on the lower exchange hype in many has been outfits, most gone by now while the likes of twd are still forging ahead and looks to still be on track for good earnings potential in the space.  Let that be a valuable lesson for newbie investors....and of course my shame on you, cyberstalkers.  LOL!

Cheers,
Dave.