This represented a significant monthly gross margin increase of 20% year-over-year and 66% from 2019, as well as the largest gross margin the Company has ever achieved. City Trees’ wholesale division remained dynamic with monthly net sales growth of 91% year on year and 132% in 2019.
The Company’s retail division, Oasis Cannabis, continued to exceed its target of more than
The company’s branded division, City Trees, continued to outperform the market and recorded a 91% year-over-year increase in revenue and a 132% increase from 2019.
City Trees continued to maintain its position as the number one dye brand in the state of
The Company Achieves Its Largest Monthly Gross Profit Margin To Date
BDS Analytics figures reflected that City Trees was the number one brand for the entire category of unit concentrates sold in the state of
“It has been an exciting year 2021,” said the president and chief operating officer of the company
Oasis Cannabis operated a cannabis dispensary in the
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” as such term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the “forward-looking statements” ). These statements concern, among other things, the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and our community during the pandemic, the effect of our initiatives to expanding market share and achieving growth during and after the pandemic, operating results and financial performance, anticipated future events and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases has already had, a negative impact on our business, operations and financial results, including disrupting our growing and processing activities, supply chains and our sales channels; and retail dispensary operations. as well as a deterioration in general economic conditions, including a possible national or global recession. Due to the uncertainties associated with the continued spread of COVID-19 and the timing of vaccinations, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be significant. In some cases, you can identify forward-looking statements by words such as “may”, “could”, “will”, “should”, “the intention”, “expects”, “plans”, “the objectives ”,“ projects ”,“ anticipates ”,“ believes ”,“ estimates ”,“ predicts ”,“ potential ”or“ continues ”or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial risks, uncertainties and other known and unknown factors that may cause our actual results, levels of activity or performance to differ materially from the results, levels. activity or future performance expressed. or implied by these forward-looking statements. We cannot guarantee future results, activity levels or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. These cautions should be considered in conjunction with any written or oral forward-looking statements that we may issue in the future.
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