True Leaf Medicine reports Q2 EPS (C0.02) vs. (C0.02) last quarter
Reports Q2 revenue C$706,752 vs. C$414,657 last quarter. "True Leaf is proud to report its strongest quarter in the Company's history," said Darcy Bomford, Founder and Chief Executive Officer of True Leaf. "This record quarter is a result of the successful roll-out of our new and expanded natural pet care product lines, our investments into building our team, and success in streamlining global operations. Continuing to execute on our global growth plans has allowed us to meet the high demand for our products in key markets like Europe.We are also excited to report that on November 22, 2019, our True Leaf Cannabis division became a licensed producer, securing three licenses from Health Canada for our True Leaf Campus facility located in Lumby, British Columbia. The facility was built to meet EU GMP and HACCP standards and will also be able to produce alternative cannabis products such as edibles, topicals, and capsules, creating new opportunities for the 'Cannabis 2.0' market in Canada and the fast-growing European cannabis market. The Company is actively seeking a joint venture partner to purchase a portion of the True Leaf Campus asset allowing us to lock in a supply of CBD for our pet products and secure a return on our investment. To address current growing pains in the cannabis industry, the Company has made a number of strategic business decisions to improve cash flows and reallocate capital to ensure the long-term growth of the Company. Cost-saving measures have been made across both divisions; we expect to realize savings immediately and improve upon them going forward."