Cannara Biotech, a vertically integrated cannabis producer based in Montreal, reported record sales of 19.5 million Canadian dollars ($14.6 million) for the three-month period ended Nov. 30.
The company’s fiscal first-quarter 2024 revenue marked an 89% increase compared to the CA$10.3 million it recorded in the same period one year earlier, according to a financial report released Tuesday.
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Cannara Biotech’s net income for the September-November quarter was CA$2.1 million, compared with almost CA$3,000 in the first quarter of 2023.
“As we build on this momentum in 2024, our roadmap is clear, continued execution with excellence, cost efficiencies and product innovation,” CEO Zohar Krivorot said in a statement.
“This strategic expansion is not just about quantity, it is about deepening our market penetration by
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