FY 2021 Year End and Q4 Results and Provides Update Highlights:
- In Q4, explosive gross profit growth (up 179% vs. Q4 FY2020) driven by addition of high-margin DehydraTECH™ licensing revenues; strong net revenue growth of 60% vs. Q4 FY2020
- For the full fiscal year, increased gross profits by 55% and grew net revenue by 27% vs. previous fiscal year, despite the pandemic
- Added two new lines of business to legacy alcohol-free beverage business - 1) cannabis-infused beverage sales and 2) patented cannabis technology licensing
- Acquired exclusive global usage rights for leading cannabinoid delivery technology DehydraTECH™ for use in THC products and drove rapid US commercialization of the technology through out-licensing
- Appointed Pearl Chan as Chief Legal Officer and Secretary
Toronto, Ontario--(Newsfile Corp. - October 29, 2021) - Hill Street Beverage Company Inc. (TSXV: BEER) ("Hill Street" or the "Company") reported its fiscal 2021 results for the twelve-month and three-month periods ended June 30, 2021. A complete set of financial statements and Management's Discussion and Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars.
https://www.newsfilecorp.com/release/101281