MPX Reports Q3 Fiscal 2018 Results

MPX Bioceutical Corporation (CSE:MPX; OTCQB:MPXEF) released its financial report for their third quarter fiscal 2018.

As quoted in the press release:

As the Corporation’s activities are nearly exclusively related to cannabis assets owned in the U.S., which were acquired in calendar 2017 only, comparison to the financial performance in calendar 2016 is relatively without meaning.  Hence, the Corporation has chosen to present the prior quarter, Q2 F2018, as the most meaningful comparable.

“We recorded another strong quarter with sales up to $4.5 million and are forecasting revenues of over $6 million for Q4 2018 with the addition of our newly acquired Nevada operations.  We have had a busy third and fourth quarter executing our expansion strategy, with the acquisition of the Nevada cultivation facility, management and options to acquire three dispensaries and one production facility in Maryland as well as continued expansion of our assets in Arizona and Massachusetts. Once all of our current expansion initiatives have been fully developed, we anticipate having a total of 10 dispensaries throughout four States, 9 million grams per annum in cultivation and 1.2 million grams per annum in concentrates production capacity. This gives us an excellent platform for further growth, especially considering our proven access to capital,” said W. Scott Boyes, Chairman, President and CEO of MPX. “As well, plans for our cultivation and production facility in Owen Sound, Ontario are rapidly evolving with full-construction now expected to commence during the second calendar quarter of 2018.”

Click here to read the full press release.

Source: globenewswire.com