Delta 9 Posts Q4 and Year End 2018 Financial Results

Delta 9 Cannabis (TSXV:NINE,OTCQX:VRNDF) issued its financial and operational results for the year ending December 31, 2018.

As quoted in the press release:

2018 Year End Financial Highlights

• Record operating revenues of C$7.57M for the year ending December 31, 2018, up 702 [percent], from C$944,114 for the year ending December 31, 2017
• Record gross profit of C$5.74M for the year ending December 31, 2018, up 1,200 [percent], from C$442,681 for the year ending December 31, 2017
• Net income was a loss of C$8.61M for the year ending December 31, 2018, primarily as a result of expanding operations in advance of legalization of recreational use cannabis in the fourth quarter of 2018.
• The Company reported a strong financial position, with working capital of C$20.7M and total assets of C$46.0M, having raised over C$30.7M in debt and equity during the year.

“2018 was a transformation year for Delta 9 as we proved our business model of using retrofitted shipping containers (Grow Pods) to grow cannabis successfully and produced a consistent high-quality cannabis product,” said John Arbuthnot, CEO.

Click here to read the full press release.