Delta 9 Provides Guidance & Timing for Q2 2023 Results
July 26 2023 - 5:00PM
DELTA 9 CANNABIS INC. (TSX: DN) (OTC: DLTNF) (“Delta 9” or the
“Company”) is pleased to provide guidance on its revenue forecast
for the three- and six-month period ending June 30, 2023 based on
preliminary results:
-
The Company anticipates revenue for the three-month period ending
June 30, 2023, to be between $18.2 million and $18.8 million
compared with;
-
$16.9 million for the first quarter of 2023.
-
$17.5 million for the second quarter of 2022.
- The Company
anticipates revenue for the six-month period ending June 30, 2023,
to be between $35.1 million and $35.7 million compared with $30.0
million for the second quarter of 2022.
“Sequentially and year
over year, Delta 9 anticipates another quarter with all three
business units contributing to the success of a record quarter,”
said John Arbuthnot, Co-founder, and CEO of Delta 9. “We remain
optimistic that the rest of 2023 will continue to outperform the
first half of the year for Delta 9.”
Delta 9 will provide
investors with a full breakdown of our revenue and financial
results as part of the second quarter news release which will be
issued on August 14, 2023, after markets close. This will
be followed by a conference call the following day on August 15,
2023, the details of which can be found at the end of this
release.
The preliminary estimated revenues for the
three-month period ended June 30, 2023, 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 final
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 June 30, 2023 are issued.
2023 Second Quarter Results Conference
Call
Delta 9 will release results for the second
quarter of 2023 on August 14, 2023, after markets close. A
conference call to discuss the above results is scheduled for
August 15, 2023. The conference call will be hosted that day
at 11:00 am Eastern Time by John Arbuthnot, Chief
Executive Officer, and Jim Lawson, Chief Financial Officer,
followed by a question-and-answer period.
DATE: |
August 15, 2023 |
TIME: |
11:00 a.m. Eastern Time |
Dial in # |
1-888-886-7786 |
|
|
REPLAY: |
877-674-6060 Available until 12:00 midnight Eastern Time, September
15, 2023 |
|
|
Replay passcode: |
823449 # |
For more information contact:
Investor & Media
Contact:Ian Chadsey VP Corporate
AffairsMobile:
204-898-7722E-mail: ian.chadsey@delta9.ca
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 an 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 OTC under the symbol “DLTNF”. For more
information, please visit www.delta9.ca.
Disclaimer for Forward-Looking
Information
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 June 30, 2022.
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 30, 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.
Delta 9 Cannabis (TSX:DN)
Historical Stock Chart
From Sep 2024 to Oct 2024
Delta 9 Cannabis (TSX:DN)
Historical Stock Chart
From Oct 2023 to Oct 2024