Delta 9 provides guidance and timeline for 2021 year-end results – Technical420
DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”), is pleased to provide guidance on certain fourth quarter and year-end results ending December 31, 2021, on the basis of preliminary results:
- The Company expects net revenues for the three-month period ending December 31, 2021 to be between $16.6 million and $17.4 million. This compares to:
- $14.15 million for the same period in 2020, an increase of between 17% and 23%.
- $15.2 million sequentially from the third quarter of 2021, an increase of between 9% and 14%.
- The Company expects net revenues for the fiscal year ending December 31, 2021 to be between $61.8 million and $62.6 million, compared to $52.1 million for the same period a year earlier. .
“We expect to report strong year-over-year and sequential revenue results for the fourth quarter of 2021,” said John Arbuthnot, CEO of Delta 9. “Delta 9 strives to differentiate itself from its peers posting strong financial and operational results and continuing to grow its revenue streams from its three main business units.”
Delta 9 will provide investors with a full breakdown of its progress in these areas as part of its year-end and fourth quarter results to be released on March 31, 2022, before markets open, followed by a conference call. , details of which can be found at the end of this press release.
The preliminary estimated financial results and other data for the three-month period and fiscal year ended December 31, 2021, presented above are unaudited and are subject to the completion of the Company’s financial close procedures. These preliminary estimated financial results have been prepared by the Company’s management and are their responsibility. The Company’s independent registered accounting firm, Baker Tilly HMA LLP, is performing year-end audit procedures with respect to the attached preliminary financial results and other data. , and therefore does not express an opinion or any other form of assurance with respect thereto.
The Company currently expects its final operating results and other data to be consistent with the estimates set forth above, but such estimates are preliminary and the Company’s actual operating results and other data may differ materially from these estimates due to the completion of its financial close procedures, final adjustments and other developments that may occur between now and the issuance of these consolidated financial statements for the period ended December 31, 2021.
2021 Year-End Earnings Conference Call
A conference call to discuss the above results is scheduled for March 31, 2022, prior to commercialization. The conference call will be hosted at 9:00 a.m. Eastern Time by John Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial Officer, followed by a question and answer period.
|DATED:||March 31, 2022|
|TIME:||9:00 a.m. Eastern Time|
|Available until 11:59 p.m. EST Thursday, June 30, 2022|
For more information contact:
Investor and media contact:
Ian Chadsey Vice President Corporate Affairs
E-mail: [email protected]
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The Company sells cannabis products through its wholesale and retail channels and sells its cannabis cultivation pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9 shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “DLTNF”. For more information, please visit www.delta9.ca.
Disclaimer for forward-looking information
Certain statements in this release are forward-looking statements, which reflect management’s expectations regarding the company’s future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. The forward-looking statements contained in this press release include statements relating to Delta 9’s financial results for the three months and year ended December 31, 2021. These statements are subject to risks and uncertainties that may cause results, actual performance or developments differ materially from those contained in the statements, including the Company’s actual financial results which differ from its estimates as well as any risk factors set forth in Delta 9’s Annual Information Form dated March 31, 2021 which was filed on SEDAR. There can be no assurance that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will derive therefrom. Readers are urged to carefully consider these factors when evaluating the forward-looking statements contained in this press release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof, and the Company disclaims any intention or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required. by applicable securities. laws.