Second Quarter Financial Results and Operational Highlights - Completed private placement for aggregate gross proceeds of $13.8 million, securing a strong balance sheet and providing funding to execute on operational and expansion plans
- Commenced trading on the TSX-V under the symbol "PHC" on June 17, 2021
- Announced strategic partnership with Geocann to bring VESIsorb® formulated Cannabis Health Products ("CHPs") to the Canadian market
- Signed collaboration agreements with PharmaChoice Canada and Sobeys for the implementation of Pathway's Medical Cannabis Management System ("MCMS®") in pharmacies across Canada
TORONTO, Aug. 26, 2021 /CNW/ - Pathway Health Corp. ("Pathway" or the "Company") (TSXV: PHC) today reported its financial results and operational highlights for the three and six-month period ended June 30, 2021. Unless otherwise noted, all amounts are in Canadian dollars and are prepared in accordance with International Financial Reporting Standards ("IFRS").
"With the anticipated next round of Health Canada changes to the Cannabis Act and the introduction of CHPs, Pathway is assembling the necessary resources, and establishing partnerships to capitalize on the CHP opportunity, including: 1) development of proprietary, national distribution channels; 2) access to proprietary formulation technology; and 3) the addition of Dr. Jordan Silver, Senior Director of Product Development to the Pathway team. We believe Pathway is uniquely positioned to benefit from these changes and we are excited about the opportunities that lay ahead." said Ken Yoon, Chief Executive Officer of Pathway. "In addition, we were able to achieve stable results despite the continued impact of the global COVID-19 pandemic. These results reflect the continued commitment and hard work of our employees. During this time, we laid the foundation to be well positioned to execute our strategic initiatives and capitalize on future opportunities for this year and beyond. We remain focused on growth, both organically and through accretive acquisitions. We intend on adding new, complementary services and products to those we currently offer so we can provide a more wholistic approach to care for our patients. We believe this is the best path for providing best-in-class patient care and greater profitability for the Company."
https://www.newswire.ca/news-releases/pathway-reports-fiscal-2021-second-quarter-financial-results-and-operational-highlights-849893376.html