Simply Better Brands Corp. Announces USD$2.6 Million Monthly Revenue For October 2021 Driven by Accelerated Customer Acquisition
November 18 2021 - 6:30AM
Simply Better Brands Corp. ("
SBBC" or the
"
Company") (TSX Venture: SBBC) (OTCQB: PKANF) is
pleased to announce that it achieved USD$2.6 Million in revenue for
the month of October 2021 based on management-prepared financial
statements. This represents 220% growth over the average month’s
revenue for the third quarter. This significant growth was fueled
by accelerated customer acquisition by the Company’s PureKana
wellness brand.
SBBC includes a portfolio of emerging brands
focusing on health and wellness for Millennials and Generation Z in
the rapidly growing plant-based, natural, and clean ingredient
space. The Company’s brands are distributed through both its
e-commerce platforms as well as brick and mortar retail channels.
SBBC’s key brands are PureKana (CBD Wellness), TRUBAR (plant-based
nutrition) and No B.S. Skincare (clean ingredient skin care).
SBBC is pleased to provide the following
commercial highlights driving the growth:
-
PureKana CBD launched a new customer acquisition strategy based on
data-science. The demonstrative acceleration of consumers engaging
with the brand is driving over 300% increase in October 2021 vs.
our last 90-day trend.
-
Incremental investment in our sales capability to enable
shopper-centric solutions by channel.
-
Following the consumer, PureKana launched single-serve OTC gummies
and a discreet, oral CBD strip, while continuing to expand its
cannabinoid and active ingredient formulas.
-
Our current pacing indicates the expected growth in the Company’s
wellness sector (PureKana) from 18-20% growth in the second half of
2021 which we reported on August 30, 2021, to stronger guidance of
58% sales growth in the Company’s wellness sector over the first
half of 2021.
-
We are also pleased to announce expected sales growth for SBBC in
the second half of 2021 compared to the first half of 2021 of 93%.
This sales growth increase includes PureKana, No BS and
TRUBAR.
“In the growing, but crowded, CBD wellness
space, strong customer acquisition is a strong leading indicator to
validate our differentiated consumer offering and ability to break
through the noise. We remain committed to leverage data science and
innovation to emotionally connect with informed consumers on their
wellness journey,” says SBBC CEO, Kathy Casey. “With our recent
commercial wins, we forecast our key brands of PureKana, TRUBAR
(plant-based nutrition) and No B.S. Skincare (clean ingredient skin
care) for accelerated growth in 2022.”
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an
international omni-channel platform with diversified assets in the
emerging plant-based and holistic wellness consumer product
categories. The Company’s mission is focused on leading innovation
for the informed Millennial and Generation Z generations in the
rapidly growing plant-based, natural, and clean ingredient space.
The Company continues to focus on expansion into high-growth
consumer product categories including CBD products, plant-based
food and beverage, and the global pet care and skin care
industries. For more information on Simply Better Brands Corp.,
please visit:
https://www.simplybetterbrands.com/investor-relations.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact Information
Simply Better Brands Corp.Brian MeadowsChief Financial Officer+1
(855) 553-7441ir@simplybetterbrands.com
Forward-Looking Information
Certain statements contained in this news
release constitute "forward-looking information" and "forward
looking statements" as such terms are used in applicable Canadian
securities laws. Forward-looking statements and information are
based on plans, expectations and estimates of management at the
date the information is provided and are subject to certain factors
and assumptions, including, among others, that the Company’s
financial condition and development plans do not change as a result
of unforeseen events, the impact of the COVID-19 pandemic, the
regulatory climate in which the Company operates, and the Company’s
ability to execute on its business plans. Specifically, this news
release contains forward-looking statements relating to, but not
limited to: continued revenue growth driven by the Company’s
brands; ability to enable shopper-centric solutions; the Company’s
ability to follow consumer trends; projected results of operations
during 2021, including specific sales growth targets and industry
growth targets; the Company’s ability to acquire customers; the
Company’s ability to leverage data science and innovation to
connect with consumers; expectations for growth in 2022.
Forward-looking statements and information are
subject to a variety of risks and uncertainties and other factors
that could cause plans, estimates and actual results to vary
materially from those projected in such forward-looking statements
and information. Factors that could cause the forward-looking
statements and information in this news release to change or to be
inaccurate include, but are not limited to, the risk that any of
the assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company’s
financial condition and development plans change, as well as the
other risks and uncertainties applicable to the CBD or broader
wellness industries and to the Company, and as set forth in the
Company’s annual information form available under the Company’s
profile at www.sedar.com.
The above summary of assumptions and risks
related to forward-looking statements in this news release has been
provided in order to provide shareholders and potential investors
with a more complete perspective on the Company's current and
future operations and such information may not be appropriate for
other purposes. There is no representation by the Company that
actual results achieved will be the same in whole or in part as
those referenced in the forward-looking statements and the Company
does not undertake any obligation to update publicly or to revise
any of the included forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required by applicable securities law.
This news release contains financial outlook
information about prospective results of operations, which are
subject to the same assumptions, risk factors, limitations and
qualifications as set forth in the above paragraphs. The financial
outlook information was approved by management as of the date of
this news release and was provided for the purpose of providing
further information about the Company’s anticipated future business
operations. Readers are cautioned that reliance on such information
may not be appropriate for other purposes. The Company disclaims
any intention or obligation to update or revise any financial
outlook information contained in this news release, whether as a
result of new information, future events or otherwise, unless
required by applicable securities law.
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