BCC reports 4Q 2017 results and aggressive growth strategy

The Canadian Bioceutical Corporation (CSE: BCC) (OTC:CBICF) reported results for the quarter ending March 31, 2017. These included $4.4M in gross revenues, $1.0M in gross profit, and net income loss of -$4.5M.

BCC’s CEO Scott Boyes said these results were on track with expectations resulting from the current phase of their growth strategy. “With three transactions completed, and five more nearing completion, we continue to execute our aggressive growth strategy. Once the assets have been acquired and developed, we anticipate having 10 dispensaries in four states, with over 9,000 kg per annum of cultivation capacity and over 1,200 kg per annum of high-margin concentrates production capacity.”

The Ontario-based corporation, through its subsidiaries, currently provides management, staffing, procurement, advisory, financial, real estate rental, logistics and admin services to medical cannabis firms in AZ with the Health for Life (dispensaries) brand and MPX (concentrates) brand. Their up and running Arizona businesses reported a cash-flow positive quarter.

The results also stated that the company:
– began installation of RotoGro technology in North Mesa, AZ facility, enabling company to
double concentrates production in AZ to 1.1 million grams per annum
– completed purchase of companies supporting the Health For Life brand and MPX wholesale
concentrates fort a total of $25M.
– completed purchase of 51% interest in management company supporting cultivation and
production facility and dispensary in Massachusetts.
– signed LOIs to complete purchase of GreenMart in Nevada, a fourth AZ cultivation and
dispensary operation in AZ, and licenses to develop three dispensaries in MD
– signed partnership with Israeli pharma company Panaxia for Panaxia to provide smokeless
cannabis products
– raised $27 million in January 2017 through private placement of common shares at $0.20 per
share
– raise US$11.2M through private placement of common shares at CA$0.50 per share
– arranged $25M credit facility with Florida based Hi-Med.

Source: The Canadian Bioceutical Corporation press release

BCC reports 4Q 2017 results and aggressive growth strategy

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BCC reports 4Q 2017 results and aggressive growth strategy