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(TheNewswire)
Vancouver, BC TheNewswire - April 29, 2021 Quizam Media Corporation ("the Company") (CSE:QQ ) (CNSX:QQ.CN) ( OTC:QQQFF), a leading cannabis retailer thru its chain of stores Quantum 1 Cannabis, is pleased to announce record third quarter results for the period ending February 28 th 2021.
Q3 revenue in 2021 compared with the same quarter last year has increased by 672% from $169,242 to $1,305,939.
Q3 Gross Profit compared with same quarter last year increased 463% from $124,495 to $576,544.
Q3 Financial Highlights:
- Q3 2021 revenue of $1,305,939
- Increase of $1,136,697 and 672% over Q3 2020 revenue of $169,242
- Q3 2021 Cannabis Retail Gross Profit
- Grown from $24,221 to $463,366 (39% Margin)
- Q3 2021 General and Administrative of 265k or 20% of revenue
- Versus 85k or 50% of revenue Q3 2020
- Q3 2021 Wages and Contractors of $219K or 17% of revenue
- Versus $86K or 94% of revenue Q3 2020
The full financial statements are available on SEDAR.
"This has been QQ's most successful sales quarter in history and we are seeing a rapid growth rate is increasing quarter after quarter," stated President and CEO Russ Rossi. "We are proud of our unique consumer experience with increased traffic and repeat customers attracted to our broad product lines and unique offerings that are in high demand."
Corporate Highlights:
- CUSTOMER TRAFFIC: High month over month sales growth coming from our flagship store in North Vancouver.
- FARM FRESH: Improving demand for specialized "cottage grown" sativa and indica products.
- EXPERTISE: Continued training and hiring of best of breed staff and management to cater to consumer inquiries and needs
- TECHNOLOGY; Expanded in-house technology for management of human resources, inventory and regulatory requirements
"In 2021, our primary goal is to open a number of new locations in high traffic areas providing a leading customer experience in addition to adding new product offerings to our chain of stores," added Russ Rossi. "We see great opportunities in one of the fastest growing sectors in North America."
Quizam Media and Quantum1 Cannabis Corp.
CSE: QQ OTCQB: QQQFF | Telephone: (604) 683-0020 |
Email: ir@quizammedia.com Website: www.quantum1cannabis.com | Facsimile: (604) 683-0045 |
Growing Together. Quizam Media and its cannabis retail chain Quantum 1, was born from our desire to cultivate great energy and interactions with our communities. Our retail stores bring together good vibes and good people, aiming to forge connections to cannabis in meaningful ways. We consider every product, every service offering in our stores as forms of energy that can heighten our own energies and in turn our collective world. That's why everything we serve is set to the highest standards.
Quantum1 ( www.quantum1cannabis.com ) is a wholly owned subsidiary of Quizam Media a publically traded company.
Quizam Media Corporation
Suite 650, 609 Granville Street
PO Box 10381 Vancouver, BC
V7Y 1G6
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and nature of potential acquisitions, joint ventures, partnerships, business dealings and financings, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
Copyright (c) 2021 TheNewswire - All rights reserved.
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