- Revenues of $8,404,525 ($0.16 per share) reported for the third quarter
- Gross Profit of $3,434,186 ($0.06 per share) reported for the third quarter
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) -- Captor Capital Corp. (CSE: CPTR; FRANKFURT:NMVA; STUTTGART: NMVA), ("Captor" or the "Company"), is pleased to announce today the release of its Unaudited Condensed Interim Consolidated Financial Statements and MD&A for the three and nine months ended December 31, 2021. In the third quarter, revenues from the sale of cannabis at the Company’s California dispensary network were $8,404,525, with the Company recording a gross profit of $3,434,186.
ManagementCommentary
“We have experienced consistent growth despite the current retail environment, as Captor maintains steady revenues benefiting from the locations and retail footprint of its dispensaries,” said Captor Capital CEO, John Zorbas. “The Company has invested in our market presence, talent, loyalty programs and digital infrastructure to drive long-term growth. These investments have enhanced the customer experience and support our financial performance.
“Captor remains focused on creating operational efficiencies and profitability that are derived from economies of scale with a direct impact to EBITDA,” said Adam Wilks, CEO of Captor Retail Group. “The locations are ideal to support our retail initiatives, delivery platform and most importantly, we have built the foundation supporting the most critical parts of our growth strategies to drive long-term success.”
FinancialStatementHighlights
- In the third quarter, revenue from the sale of cannabis at the Company’s California dispensary network was $8,404,525
- In the third quarter, the Company recorded a gross profit of $3,434,186
- As of December 31, 2021, the Company has assets of $66,940,690, including $23,230,872 in cash and cash equivalents.
OperationalHighlights
The Company has grown from two (2) operational dispensaries to nine (9) operational dispensaries. Captor completed construction and received all operating licenses and opened for business in Palm Springs. The Company will no longer pursue developing the Pacifica location.
While the Company has achieved significant growth in both revenues and profits this past year, it is management’s belief that it will be in the first quarter of the 2022 financial year and the following quarters that this investment will truly begin to bear significant fruit, as CRG begins to benefit of the resources and capabilities of each of its nine locations.
ADDITIONALINFORMATION
Additional information relating to the Company’s filing is available on SEDAR at www.sedar.com and in the Company’s Unaudited Financial Statements and in the Management’s Discussion and Analysis for the Three and Nine Months Ended December 31, 2021.
AboutCaptor CapitalCorp.
Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on theCanadianSecuritiesExchange,andtheFrankfurtandStuttgartstockexchanges.Captor provides recreational cannabis products to consumers, as well as other highdemand cannabis-based goods. The Company follows a strategy of acquiring cashflowingestablishedcompanies andorganizationswithgrowthpotentialthatrequirecapitalto scale.
Gavin Davidson, Communications
Captor Capital Corp.
gavin@captorcapital.com
Forward-LookingStatements
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
