jacob cohen limited

Levitee Labs Publishes First Combined Revenue Figures for September 2021 and October 2021

  • Levitee Labs achieves combined September 2021 and October 2021 revenues of $1,553,728
  • Consistent revenue growth and acquisitions across core divisions of the company, including Levitee Clinics, Levitee Pharmacies, and Earth Circle Organics

Levitee Labs Inc. (CSE: LVT) (OTC: LVTTF) (FSE: 7H7) (the " Company " or " Levitee Labs "), an integrative wellness company with a diversified portfolio of healthcare and wellness assets, is pleased to publish revenue figures for the month of September 2021 and October 2021. On a consolidated basis, the Company has recorded (unaudited) revenue of $1,553,728 combined for both months.

Levitee Labs has seen consistent growth across all its divisions, with accumulated revenue from September to October broken down into the following subdivisions: 28.1% for Levitee Clinics, 40.7% for Levitee Pharmacies, and 31.1% for Earth Circle Organics and other wellness products. Earth Circle Organics, Levitee's direct-to-consumer and wholesaler of supplements and superfoods products increased sales 7.7% from September to October. This has been primarily achieved through further scaling the direct-to-consumer business and further optimization of the multidisciplinary aspects of Levitee Labs' healthcare assets, incorporating novel mental health and treatment modalities.

Founder and CEO Pouya Farmand stated, "Creating a meaningful impact on our communities and building shareholder value are not mutually exclusive. We are proud that Levitee Labs is now the largest non-governmental provider of addiction care in the Province of Alberta, servicing over 35,000 patients annually while building shareholder value for our investors through centralizing accretive acquisitions, technologically enhancing our portfolio of assets, and integrating new treatment modalities for our patients."

Mr. Farmand continued by saying, "As we march forward with the overall advancement of the Levitee Labs portfolio of wellness assets, we are proud to be generating substantive and consistent recurring revenue and we look to aggressively expand on this positive momentum in the ensuing months."

The Company will look to maintain its consistent growth trajectory and execute on its aggressive expansion plans for the upcoming twelve months. The goal of the Company remains to generate revenue through strategic M&A, increasing margins, and further developing its portfolio of assets through organic growth pathways.

About Levitee Labs Inc.

Levitee is establishing itself as a leader in the integrative wellness space. Through leveraging an M&A regimen that focuses on the centralization of complementary integrative wellness assets, Levitee aims to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies. The Company's current portfolio of assets includes: Levitee Clinics™, a group of five operating addiction and pain treatment clinics in Alberta; Levitee Pharmacies™, three pharmacies operating in Alberta specialized in filling prescriptions for patients with substance use disorders, mental health conditions, and chronic pain; BlockMD, the first technology company in Alberta to receive provincial approval for electronic-prescriptions in the addiction treatment space; and Earth Circle Organics, a direct-to-consumer and wholesaler of supplements and superfood products with 180+ SKUs in its product lineup across three brands. Further information about Levitee is available on its website at www.leviteelabs.com .

Forward-Looking Statements

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance, or achievements that Levitee anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements respecting Levitee's business plans and proposed products, and the benefits derived from mushroom-infused products; the expected use of proceeds from the Loan; the acquisitive growth potential of Levitee once acquisitions are completed; the expectation that Levitee will continue to execute its accretive acquisition program, and the contribution of such program to Levitee's future growth potential; the closing of Tranche 1, including the Levitee's ability to satisfy the Tranche 1 closing conditions; the closing of any future tranches under the Loan, including Levitee's ability to satisfy the closing conditions for future tranches of the Loan; and Levitee's objective to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. These statements and other forward-looking information are based on assumptions made by Levitee based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release as well as management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. These assumptions may also be based on information obtained from third-party industry analysts and other third-party sources. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Levitee as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: Levitee's limited history of operations; ability to secure additional financing; negative cash flow from operating activities since inception; regulatory requirements; changes in consumer preferences; supply of raw materials; reliance on a limited number of products; brand awareness; the ability to develop, market and produce new products; dependence on certain key senior managers; reliance on third parties for manufacturing and packaging; potential product liability claims and product recalls; and significant competition. For additional information regarding these risks, please see the risk factors identified and reported in Levitee's public filings under its SEDAR profile at www.sedar.com. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date of this news release, and Levitee assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws. The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release and accepts no responsibility for the adequacy or accuracy hereof.

For further information about Levitee Labs Inc., please contact:

Media Contact:
media@leviteelabs.com

Investor and Corporate Communications:
ir@leviteelabs.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Levitee Labs

Levitee Labs

Transforming the Traditional Landscape of Mental Health, Addiction Treatment and Pain Management Treatment Across Multiple Verticals

Lobe Sciences Ltd. to Attend the ArcStone-Kingswood Growth Summit 2025 in Toronto

Lobe Sciences Ltd. to Attend the ArcStone-Kingswood Growth Summit 2025 in Toronto

lobe sciences ltd. (CSE: LOBE,OTC:LOBEF) (OTCQB: LOBEF) (FSE: LOBE.F) ("Lobe Sciences" or the "Company") a clinical stage biopharmaceutical company focused on developing products to treat diseases with significant unmet medical needs is pleased to announce its participation in the upcoming... Keep Reading...
Dried mushrooms and capsules aligned on a light surface.

Psychedelics Market Update: H1 2025 in Review

The market for psychedelic drugs is emerging as a strategic investment opportunity in healthcare, with forecasts generally placing its value at around US$6.4 billion in 2025. This burgeoning sector is set for robust, double-digit compound annual growth, significantly driven by North America,... Keep Reading...
Glowing mushrooms with colorful graphs in the background on a dark surface.

US Policy Momentum, Clinical Progress Fueling Psychedelics Market in 2025

When the US Food and Drug Administration (FDA) rejected Lykos Therapeutics’ new drug application for MDMA-assisted therapy last August, the initial disappointment cast a shadow over the psychedelics industry. However, the sector is seeing a resurgence of optimism in 2025 on the back of various... Keep Reading...
AVECHO BIOTECHNOLOGY

Avecho and Sandoz enter Exclusive License and Development Agreement to Commercialise CBD for Insomnia in Australia

Avecho Biotechnology Limited (ASX: AVE) (“Avecho” or the “Company”) today announced it has signed an exclusive ten-year development and licensing agreement with Sandoz Group AG (“Sandoz”) for the commercial rights to Avecho’s Phase III cannabidiol (“CBD”) capsule for insomnia in Australia.... Keep Reading...

Compass Pathways to announce fourth quarter and year-end financial results on February 27th, 2025

Compass management will host a conference call at 8:00 am ET (1:00pm UK) Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it will release financial results for the fourth... Keep Reading...
Sunlit mushrooms growing on forest floor, backlit to show vibrant gills and earthy texture.

Psychedelics Market Forecast: Top Trends for Psychedelics in 2025

The psychedelics investment landscape enters 2025 on a complex path marked by both progress and setbacks. While the US Food and Drug Association (FDA) continues to support research into the therapeutic potential of psychedelics, translating promising findings into approved treatments and... Keep Reading...

Latest Press Releases

Related News