True Leaf Brands brought in more than $700,000 during the second quarter, which represented its strongest financial period yet.
The $706,752 of revenue, which came from the True Leaf Pet division, represented a 70 per cent increase over the first quarter of the 2020 fiscal year and a 24 per cent hike over last year at this time for the Vernon-based company.
“True Leaf is proud to report its strongest quarter in the company’s history,” True Leaf founder and CEO Darcy Bomford said in a press release. “This record quarter is a result of the successful rollout of our new and expanded natural pet care product lines, our investments into building our team and success in streamlining global operations. Continuing to execute on our global growth plans has allowed us to meet the high demand for our products in key markets like Europe.”
The best news from the second quarter, however, was likely True Leaf Cannabis’ receiving three licences from Health Canada to cultivate, process and sell medical cannabis at the company’s 18,000 square-foot facility in Lumby.
In other news, True Leaf chief financial officer Kerry Biggs stepped down from his role on Saturday to pursue other opportunities. Darren Battersby, who is the former CFO of Rainmaker Entertainment and OneMove Technologies, has replaced Biggs.
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