Brain Scientific Inc. (BRSF) Poised to Benefit as Rapidly Growing Brain-Computer Interface Field Drives EEG Growth

• Brain-Computer Interface (“BCI”) market is expanding rapidly, expected to double to USD 406 billion by 2026
• BCI technology, designed to acquire brain signals, analyze and translate them into commands, is one of key driving forces behind EEG technology growth
• Brain Scientific appears poised to capitalize on this novel technology as its applications expand from medical settings to training, consumer engagement, entertainment, and more

The Brain-Computer Interface (“BCI”) field is growing rapidly, representing one of the main driving factors behind the expansion of EEG technology. As the provider of EEG technology, Brain Scientific (OTCQB: BRSF) appears well placed to leverage this rapid growth of the industry expected to double in size by 2026 (https://nnw.fm/MCszD).

BCI technology refers to solutions that record the brain signal from the surface of the cortex, using sensors placed over the scalp or signaling devices implanted in the brain. As a promising approach to overcome paralysis by decoding brain signals directly from the scalp and translating them into movements of a virtual or robotic effector, BCI can provide opportunities for motor rehabilitation from a number of conditions, including spinal cord injury, traumatic brain injury, and stroke (https://nnw.fm/FbBy9). This powerful technology can even help patients who lost the ability to speak to communicate. A recent study reports the first patient ever to produce whole words via a computer that decodes his brain’s messages through electrodes implanted in his brain (https://nnw.fm/DrEEH). 

Enabling advances never possible before, the BCI space is expanding rapidly, and EEG is an essential part of that landscape. Recent market research reveals that the BCI market is expected to grow at a 12.4% CAGR over the next five years, reaching $409.3 million by 2026 — more than double compared to $203 million reported in 2020. Main growth drivers include swelling demand from healthcare, entertainment, gaming, communication, and control.

Traditionally, EEG-based BCI technology has been geared towards medical applications where it was utilized to help disabled patients to interact with the external world. However, with a shift of focus towards people with normal health, the technology is no longer constrained to medical settings only. For example, training — including athletic, military, and occupational — and fields such as consumer engagement and entertainment are becoming target groups that would likely benefit from using EEG-based BCI systems (https://nnw.fm/ytVlG).

As the application space for EEG-based BCI solutions expands, Brain Scientific appears poised for rapid growth. With its current and future products, including disposable EEG headsets for neurological patients, long-term monitoring solutions, and AI-empowered technology for recording brain activity, the Company appears well-placed within the growing brain monitoring space. Committed to pushing the boundaries of what’s possible in the neurology space, Brain Scientific brings the ground-breaking technology that aim to enable what was inconceivable until recently. 

For more information on Brain Scientific Inc., visit the company’s website at www.BrainScientific.com/Invest-Now.

NOTE TO INVESTORS: The latest news and updates relating to BRSF are available in the company’s newsroom at https://nnw.fm/BRSF

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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FingerMotion Inc.’s (FNGR) SMS & MMS, Telecommunications Products & Services, and Big Data Businesses Continue To Soar

• FingerMotion’s SMS & MMS, TPS, and Big Data divisions generated $6.00 million in revenue for Q1 2022
• The SMS & MMS and TPS businesses’ Q1 2022 revenues increased significantly compared to Q1 2021 figures
• Q1 2022 also marked the second consecutive quarter in which the big data division generated revenue, and a Q/Q increase at that
• FingerMotion is also targeting the accretive rich communications services (“RCS”) segment, with RCS expected to form its fourth division

On July 15, evolving technology company FingerMotion (OTCQX: FNGR) released its Q1 2022 results in which it reported record quarterly revenue of $6.00 million, generated by its SMS & MMS, Telecommunications Products & Services (“TPS”), and Big Data divisions. The SMS & MMS division’s revenue was up 77% or $1.81 million compared to Q1 2021, while the TPS division’s revenue grew by 341% or $1.34 compared to a similar period a year before (https://nnw.fm/GhDsF).

Q1 2022 also marked the second consecutive quarter of revenue from the Big Data division with reported revenue of $98,715. This figure represented a 198% quarter-over-quarter increase, given that in Q4 2021, the division generated $33,077.

“Growth continues to be fueled by an expansion of subscribers in new regions along with larger purchases of SMS from our corporate clientele,” commented FingerMotion CEO Martin Shen. “This is the second consecutive quarter of Big Data revenues, and we expect it to continue and eventually outpace our existing revenue streams.”

The Q1 2022 results’ announcement followed on the heels of the June 2 release of the company’s financial results for the fiscal year ended February 28, 2021. Here, FNGR reported that its SMS & MMS business and TPS division posted annual revenue growths of $6.13 million (84%) and $1.39 million (76%), respectively, compared to the previous financial year. The two businesses cumulatively contributed to a record annual revenue of $16.68 million (https://nnw.fm/OFl4K).

FingerMotion anticipates that if the current trajectory defined by the Q1 2022 results continues, its revenue for FY 2022 may exceed $24 million, which would represent a year-over-year jump of over 44%. The projected increase is likely to result from its existing operations, suggesting that the SMS & MMS, TPS, and Big Data businesses will continue soaring throughout the remainder of FY 2022.

Meanwhile, FNGR is also targeting another high growth opportunity in rich communication services (“RCS”), expected to form the company’s fourth division.

Rich communication services are emerging as a formidable technology enabling users to access various advanced capabilities from their native messaging service without installing a third-party application. Such capabilities include group chat, video calling, file sharing, and even additional features such as the ability to book a restaurant or flight. RCS has revolutionized text-based messaging by eliminating previous constraints that limited it to merely sending short text messages. With RCS, messaging has become a platform (https://nnw.fm/D65sR).

MarketsandMarkets projects that the global RCS market will grow from $5.2 billion in 2020 to $11.7 billion by 2025, representing a CAGR of 17.6% CAGR. The Asia Pacific (“APAC”) region is expected to record the highest growth rate during the forecast period, with China playing a dominant role as a key contributor to the growth. The study credits the region’s increasing populations, advanced SMS systems, expanding retail industry, rise in smartphone usage, and growing mobile payments for being behind the growth (https://nnw.fm/Gf0Og).

FingerMotion identified the accretive opportunities within the emerging RCS segment and, in March 2020, allocated resources for the R&D of a proprietary RCS platform. “This RCS platform is expected to be a proprietary business messaging platform that enables businesses and brands to communicate and service their customers on 5G infrastructure, delivering better user experience, more efficiently and cost-effectively. This is expected to open up a new marketing channel for the company’s current and prospective business partners,” reads a segment from FingerMotion’s annual report filed with the SEC as form 10-K (https://nnw.fm/7tMo1).

For more information, visit the company’s website at www.FingerMotion.com.

NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Golden Triangle Ventures Inc. (GTVH) Announces Armageddon Event, First-Ever Production of Its Kind

• Epic stage production features a unique end-of-the-world theme
• Company is curating a theme to create a ground-breaking production
• With more than 30,000 national followers, EpicRaves is on its way to achieving goal of becoming nationally recognized concert production company

Golden Triangle Ventures (OTC: GTVH) is making company history with the announcement of its debut event series: Armageddon (https://nnw.fm/4iimh). This epic stage production features a unique end-of-the-world theme and is the company’s first-ever offering of this kind. 

“We will deploy the largest Hennessy Sound Design system Las Vegas has ever seen in history for this amazing event, and we are going to curate a theme to our epic production unlike anything we have ever done in the past,” said GTVH CEO Steffan Dalsgaard. “Most of the headliners on our lineup have never played for this city, and we are so excited to debut our new Armageddon event this September.”

The series, slated for Sept. 17, 2021, at the Sahara Event Schedule, is presented by GTVH’s wholly owned subsidiary Lavish Entertainment (dba EpicRaves). The headliner performer for the event is MUST DIE! with Oddprophet making his U.S. debut. Others performing during the event include Au5, BeardThug, DirtySnatcha, Psymbionic and Sky Suite, as well as Drezza, Ethyrial, Mutavore, Meek, Channel 0, Killawolf, Vairix and Dub Sum Damage.

Dedicated to producing high-quality bass music events in Vegas, one of the world’s best-known entertainment destinations, EpicRaves enhances its ground-breaking performances with custom stage and sound design, state-of-the-art venues and touring DJs from around the world. The company is focusing on creating a fun, entertaining environment for the electronic dance music (“EDM”) community where fans can freely express themselves and where the quality of the event is paramount. With more than 30,000 national followers, the company is on its way to achieving its goal of becoming a nationally recognized concert production company. 

Lavish Entertainment is also working to build an immersive virtual reality platform to help monetize its live-streamed concerts and assist its business in expanding into markets outside of Las Vegas. In addition, the company recently unveiled Syndicate Bass Records, its own record label that showcases some of the best bass music artists in the world. 

Golden Triangle Ventures is a multifaceted consulting company with many projects being developed that provide synergistic values in the health, entertainment and technology industries. The company aims to purchase, acquire and/or joint venture with established entities that management can help assist and develop into unique opportunities. 

Additionally, GTVH provides a professional corporate representation service to different companies in these sectors while consulting on a variety of business development objectives. The goods and services represented are driven by innovators who have passion and commitment to these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. 

For more information, visit the company’s website at www.GoldenTriangleInc.com. 

NOTE TO INVESTORS: The latest news and updates relating to GTVH are available in the company’s newsroom at https://nnw.fm/GTVH

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 40+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) CEO to Present at Two Upcoming Conferences

• Nextech Founder and CEO Evan Gappelberg will present at the OTCQB Venture Virtual Investor Conference, scheduled for August 5, 2021, and later at the Jefferies Software Conference to be held September 14 to 15, 2021
• Earlier this year, Evan presented at a Virtual Investor Conference, wherein he highlighted the company’s plans, some of which it has already implemented
• Thus, during the upcoming conferences, which will bring together companies and investors, attendees can expect to learn more about Nextech, its core business, expectations, and more

Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF), one of the leaders in the rapidly growing augmented reality (“AR”) industry, recently announced that Founder and CEO Evan Gappelberg will present at two upcoming conferences geared towards bringing companies and investors together.

On August 5, 2021, starting from 9.30 AM ET, Evan will present at the OTCQB Venture Virtual Investor Conference. The live and interactive online event organized by Virtual Investor Conferences (“VIC”) and beamed live on VirtualInvestorConferences.com will feature favorite venture companies traded on the OTCQB (https://nnw.fm/WS2Mn).

A premier proprietary investor conference series, VIC provides an interactive forum for publicly traded companies to discuss their businesses and investment stories, in addition to answering questions from investors. As a live, online event under the VIC umbrella, therefore, the OTCQB Venture Virtual Investor Conference will not be an outlier. It will promote interactivity by allowing investors to ask companies questions in real-time. The organizers will also make available an archived webcast of the presentations after the event.

Similarly, Evan will present and host 1×1 meetings at the annual Jefferies Software Conference scheduled for September 14 to 15, 2021. Aimed at addressing both near- and long-term investment opportunities, as well as discussing current trends in the United States and beyond, the upcoming event will bring together public and private software companies, leading executives, institutional investors, venture capitalists (“VCs”), and private equity investors. It will feature 1×1/small group meetings, company presentations, fireside chats, and panels (https://nnw.fm/xTk2K).

These two presentations will come just a few months after a February 4 precursor (https://nnw.fm/f5wO7) – which was also a VIC event – during which Evan outlined Nextech’s progress up until that point and expectations for 2021, including planned product and technology launches, as well as its revenue forecast.

“Before we get started with the presentation, I just want to put a little context into the presentation. In 2019, we generated $6 million in revenue. In 2020, we preannounced our revenue as $20 million, and in 2021, we are estimating $50-$60 million in revenue,” Evan began (https://nnw.fm/VRrfm). He then went on to describe “catalysts” for the company beyond revenue, which mainly revolved around expected technology launches within its AR division. These included a proprietary Ad Network and a live holoportation feature on its AirShow App.

Nextech has since launched these two technologies in addition to others, such as LiveX, its digital experience platform (“DXP”) released May 12, and EdTechX, a higher education solution built on Microsoft Azure and available on the LiveX platform.

If the earlier VIC presentation is anything to go by, attendees at the two upcoming conferences can expect to gain more insight into Nextech, its expectations for the future, and the progress it will have made up until then. They can also expect to learn more about AR, Nextech’s core business, present and emerging technologies that will support AR, and more.

For more information, visit the company’s website at www.NextechAR.com.

NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://nnw.fm/NEXCF

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Sustainable Green Team Ltd. (SGTM) Subsidiary Ideally Positioned to Offer Expertise, Crucial Services During Above-Average Hurricane Season

• NOAA predicts above-average 2021 storm season
• SGTM wholly owned subsidiary provides unparalleled services, including commercial property storm recovery, tree trimming, clean up
• Company’s management team deploys its mobile command center, strategized with national partners to provide much-needed services

The National Oceanic and Atmospheric Administration (“NOAA”) Climate Prediction Center is anticipating an above-normal Atlantic hurricane season in the coming months (https://nnw.fm/Hf707). NOAA forecasters are predicting a 60% chance of an above-normal season, a 30% chance of a near-normal season, and a 10% chance of a below-normal season. The Sustainable Green Team (OTC: SGTM) and its wholly owned subsidiary National Storm Recovery LLC are experts at dealing with the aftermath of storms, regardless of their severity.

“For 2021, a likely range of 13 to 20 named storms (winds of 39 mph or higher), of which six to 10 could become hurricanes (winds of 74 mph or higher), including three to five major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher) is expected,” announced the Climate Prediction Center, noting that the predictions, which cover the hurricane season from June 1 through Nov. 30, come with a 70% confidence rating. “Now is the time for communities along the coastline as well as inland to get prepared for the dangers that hurricanes can bring.”

The Sustainable Green Team, through National Storm Recovery, offers the kind of expert support and guidance that communities may be looking for in order to prepare for and clean up after severe storms. For the past four decades, National Storm Recovery has provided unparalleled services, ranging from commercial property storm recovery to tree trimming and clean up (https://nnw.fm/vInUq).

National Storm Recovery is composed of a team that has expertise in dangerous tree removal, debris hauling and debris management. The company’s management team assesses storms by deploying its mobile command center to designated sites and then strategizing with its national partners, which include government agencies, prime contractors and subcontractors. National Storm Recovery and its expert team of providers is committed to do all it takes to ensure properties are safe and that business can continue as usual.

In addition to superior storm recovery assistance, the company also offers tree removal, stump grinding, tree care, land clearing and grapple hauling. National Storm Recovery received the Angie’s List Super Service Award in 2018, and the company remains committed to providing superior next-level tree service to all who need it.

The Sustainable Green Team, through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation.

The company’s solutions are founded in sustainability and based on vertically integrated operations that begin with collecting of tree debris through its tree services division and collection sites, then through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The company’s customers include governmental, residential and commercial clients.

To learn more about Sustainable Green Team Ltd., view the company’s investor presentation at http://nnw.fm/UpXmd.

NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://nnw.fm/SGTM

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
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NetworkNewsWire is part of the InvestorBrandNetwork.

Sustainable Green Team Ltd. (SGTM) Subsidiary Ideally Positioned to Offer Expertise, Crucial Services During Above-Average Hurricane Season

• NOAA predicts above-average 2021 storm season
• SGTM wholly owned subsidiary provides unparalleled services, including commercial property storm recovery, tree trimming, clean up
• Company’s management team deploys its mobile command center, strategized with national partners to provide much-needed services

The National Oceanic and Atmospheric Administration (“NOAA”) Climate Prediction Center is anticipating an above-normal Atlantic hurricane season in the coming months (https://nnw.fm/Hf707). NOAA forecasters are predicting a 60% chance of an above-normal season, a 30% chance of a near-normal season, and a 10% chance of a below-normal season. The Sustainable Green Team (OTC: SGTM) and its wholly owned subsidiary National Storm Recovery LLC are experts at dealing with the aftermath of storms, regardless of their severity.

“For 2021, a likely range of 13 to 20 named storms (winds of 39 mph or higher), of which six to 10 could become hurricanes (winds of 74 mph or higher), including three to five major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher) is expected,” announced the Climate Prediction Center, noting that the predictions, which cover the hurricane season from June 1 through Nov. 30, come with a 70% confidence rating. “Now is the time for communities along the coastline as well as inland to get prepared for the dangers that hurricanes can bring.”

The Sustainable Green Team, through National Storm Recovery, offers the kind of expert support and guidance that communities may be looking for in order to prepare for and clean up after severe storms. For the past four decades, National Storm Recovery has provided unparalleled services, ranging from commercial property storm recovery to tree trimming and clean up (https://nnw.fm/vInUq).

National Storm Recovery is composed of a team that has expertise in dangerous tree removal, debris hauling and debris management. The company’s management team assesses storms by deploying its mobile command center to designated sites and then strategizing with its national partners, which include government agencies, prime contractors and subcontractors. National Storm Recovery and its expert team of providers is committed to do all it takes to ensure properties are safe and that business can continue as usual.

In addition to superior storm recovery assistance, the company also offers tree removal, stump grinding, tree care, land clearing and grapple hauling. National Storm Recovery received the Angie’s List Super Service Award in 2018, and the company remains committed to providing superior next-level tree service to all who need it.

The Sustainable Green Team, through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation.

The company’s solutions are founded in sustainability and based on vertically integrated operations that begin with collecting of tree debris through its tree services division and collection sites, then through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The company’s customers include governmental, residential and commercial clients.

To learn more about Sustainable Green Team Ltd., view the company’s investor presentation at http://nnw.fm/UpXmd.

NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://nnw.fm/SGTM

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
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212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is part of the InvestorBrandNetwork.

Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) Reports Record Q2 2021 Revenues

• Company executed record quarter by focusing on profitable operations, accretive acquisition of Homegrown Oregon
• Chalice posts record quarterly revenue, gross profit numbers
• Homegrown chain of five stores joined the Chalice brand earlier this year

Chalice Brands (CSE: CHAL) (OTCQB: CHALF) has released its 2021 second-quarter unaudited financial, noting highest-ever quarterly revenues, along with other promising numbers (https://nnw.fm/Gbmv9). The company is a premier consumer-driven company specializing in the retail, production, processing, wholesale and distribution of cannabis.

“We are immensely proud to execute another record quarter by focusing on profitable operations and the accretive acquisition of Homegrown Oregon,” stated Chalice CEO and president Jeff Yapp “The integration of Homegrown and the adoption of our vertical products within the new stores is ahead of schedule. The staff are highly engaged and motivated to be part of the Chalice family. The whole team is energized and focused on growth as we showcase our brand portfolio nationally and remain dedicated to our ‘crawl-walk-run’ strategy.”

In the release, Chalice reported quarterly revenues from continuing operations of $6.8 million, a record high for the company and a 23% year-over-year increase compared to $5.5 million for the same period in 2020. Other impressive numbers for the quarter included an 82% increase in estimated gross profit. For Q2 2021, the company totaled $3.1 million, which represents a 46% gross profit margin compared to $1.7 million, or 37% gross profit margin rate in 2020. The company attributed the gross margin improvements to increased sales of vertical, in-house products manufactured by Chalice and increased third-party processing revenues.

“We will seek to continue our growth both organically and through any opportunistic and accretive transactions we may be able to execute upon,” said Chalice executive chairman John Varghese.

In May 2021, the company finalized its 100% ownership of SMS Ventures LLC, known as Homegrown Oregon, a chain of five retail dispensaries located in Portland, Salem and Albany, Oregon (https://nnw.fm/LM7Ri). “The completion of this transaction increases our retail store footprint to 12 locations in the state of Oregon, supported by our own award-winning cultivation operations, our production facilities in Portland and our internal wholesale team covering the state,” said Yapp. “Chalice has set a target to achieve 5% market share in Oregon while we grow in other markets. Homegrown helps us progress toward that goal.”

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with twelve dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Chalice operates nationally through Fifth and Root and has operations in Oregon and California.

For more information, visit the company’s website at www.ChaliceBrandsLtd.com.

NOTE TO INVESTORS: The latest news and updates relating to CHALF are available in the company’s newsroom at https://nnw.fm/CHALF

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