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Experion Holdings Ltd. has launched its first cannabis edible, a vegan gummy, under the Citizen Stash brand. Initially shipped to Saskatchewan, the product will soon reach BC, Alberta, and Ontario. This entry into the burgeoning C$2.7 billion cannabis 2.0 market aligns with the growing consumer demand for quality alternatives to smoking cannabis. The product aims to drive revenue growth, supported by a strategic partnership with Velvet Management, a leading cannabis marketing agency. CEO Jarrett Malnarich emphasized the strong market potential for cannabis edibles.
Experion Holdings Ltd. reported its financial results for Q3 2020, achieving a 24% revenue increase from the previous quarter, totaling $2.1 million. Year-to-date (YTD), gross revenue surged by 397% compared to last year, amounting to $4,647,635. Operating expenses decreased by 42% year-over-year. Additionally, the company processed and sold 530,267 grams of premium dried flower, a 219% increase from 2019. The brand Citizen Stash gained recognition, with significant orders received in Ontario. Experion holds a robust balance sheet with no debt.
Experion Holdings Ltd. announces a partnership with Velvet Management Inc. to enhance sales and distribution of its premium craft cannabis brand, Citizen Stash, across Canada. Velvet, a prominent cannabis marketing agency, will exclusively represent Citizen Stash in the premium market segment. This collaboration aims to strengthen Experion's distribution network and improve revenues by leveraging Velvet's expertise in cannabis retail. CEO Jarrett Malnarich emphasized the importance of direct relationships with retail partners in driving the brand's success.
Experion Holdings Ltd. (TSXV:EXP, OTCQB:EXPFF) has successfully completed its first shipment to the Ontario Cannabis Store (OCS) for the sale of premium cannabis strains under its brand, Citizen Stash. This shipment includes popular strains like MAC1 and Sunset Sherbert, which will soon be available in retail outlets across Ontario. CEO Jarret Malnarich emphasized that entering Canada’s largest cannabis market is a significant milestone aimed at accelerating revenue and achieving profitability.
Experion Holdings Ltd. has announced the resignation of Chief Financial Officer Kamini Hitkari to pursue another opportunity. Sean McNeil, the Company Chairman, will serve as Interim CFO while a search for a permanent replacement is initiated. CEO Jarrett Malnarich expressed gratitude for Hitkari's contributions over the last 18 months. Experion, based in Mission, BC, focuses on cannabis cultivation and processing, with a diverse product portfolio addressing adult-use, wellness, and medical needs.
Experion Holdings Ltd. announced that CEO Jarrett Malnarich will present live at VirtualInvestorConferences.com on September 10, 2020, at 4:00 PM EDT / 1:00 PM PDT. The event invites shareholders and investors to participate in a real-time interactive session, allowing attendees to ask questions directly. A recorded version will be available post-event. Experion operates as a cannabis cultivator and processor, addressing a range of consumer needs. The company trades under the ticker EXPFF on OTCQB and is committed to maintaining investor engagement.
Experion Holdings Ltd. (TSXV:EXP, OTCQB:EXPFF) announced a strategic update highlighting operational success and growth in the cannabis market. The company reported increased sales, improved margins, and lower operating expenses over the last three quarters. With a focus on premium cannabis products under the Citizen Stash brand, Experion aims for profitability by the end of fiscal 2020. New product launches, including strain-specific hash and vegan gummies, are scheduled within 60 days. The company has expanded its cultivation and processing capacity, targeting increased distribution across Canada.
Experion Holdings Ltd. has signed a supply agreement with Lyf Food Technologies Inc. to produce premium cannabis edibles under its brand, Citizen Stash. The first product, vegan THC gummies, is expected to launch within 60 days. CEO Jarrett Malnarich highlighted the growth potential in the cannabis edibles market, emphasizing the unique nature of the new products. Experion is focused on expanding its product lines to enhance profitability and market reach. The company is actively involved in cannabis cultivation and processing in Canada.