Delta 9 Provides Guidance & Timing for Q1 2023 Results
DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the
“Company”) provides guidance on its revenue forecast for the
three-month period ending March 31, 2023, based on preliminary
The Company anticipates revenue for the three-month period ending
March 31, 2023, to be between $16.8 million and $17.0 million
compared with $12.5 million for the same period last year.
The Company will
provide investors with a full breakdown of revenue and financial
results as part of its Financial Statements and Management
Discussion and Analysis for the three-month period ending March 31,
2023. A news release on the financials will be issued on May
15, 2023, after the stock market closes. This will be followed
by a conference call May 16, 2023, at 10:00 a.m. EST, the details
of which can be found at the end of this release.
The preliminary estimated revenues for the
three-month period set forth above are subject to the completion of
the Company's financial closing procedures. These preliminary
estimated financial results have been prepared by and are the
responsibility of the Company's management.
The Company currently expects that its results
for revenue will be consistent with the estimates set forth above,
but such estimates are preliminary, and the Company’s actual
results of operations and other data could differ materially from
these estimates due to the completion of its financial closing
procedures, final adjustments and other developments that may arise
between now and the time such consolidated financial statements for
the period ended March 31, 2023, are issued.
2023 First Quarter Results Conference
Delta 9 will release the results for the first
quarter of 2023 on May 15, 2023, after the market closes and have a
conference call on May 16, 2023, to discuss the above results at
10:00 a.m. EST.
The conference call will be hosted by John
Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial
Officer, followed by a question-and-answer period.
May 16, 2023
10:00 a.m. Eastern Time
Dial in #
1-877-674-6060Available until 12:00 midnight Eastern Time, June 16,
Replay passcode 526708 #
For more information contact:
Investor & Media
Contact:Ian Chadsey VP Corporate
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated
cannabis company focused on bringing the highest quality cannabis
products to market. The Company sells cannabis products through its
wholesale and retail sales channels and sells its cannabis grow
pods to other businesses. Delta 9's wholly-owned subsidiary, Delta
9 Bio-Tech Inc., is a licensed producer of medical and recreational
cannabis and operates a 95,000 square foot production facility
in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a
chain of retail stores under the Delta 9 Cannabis Store brand.
Delta 9's shares trade on the Toronto Stock Exchange under the
symbol "DN" and on the OTCQX under the symbol “DLTNF”. For more
information, please visit www.delta9.ca.
Disclaimer for Forward-Looking
Certain statements in this release are
forward-looking statements, which reflect the expectations of
management regarding the Company’s future business plans and other
matters. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward
looking statements in this news release include statements relating
to Delta 9’s financial results for the quarter ended March 31,
2023. Such statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ
materially from those contained in the statements, including the
Company’s actual financial results being different from its
estimates as well as all risk factors set forth in the annual
information form of Delta 9 dated March 31, 2023 which
has been filed on SEDAR. No assurance can be given that any of the
events anticipated by the forward-looking statements will occur or,
if they do occur, what benefits the Company will obtain from them.
Readers are urged to consider these factors carefully in evaluating
the forward-looking statements contained in this news release and
are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. These forward-looking statements are made as
of the date hereof and the Company disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
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