WINNIPEG, Manitoba, Sept. 24, 2021 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) ("Delta 9" or the "Company"), is pleased to announce that it has placed 7th on the 2021 Report on Business ranking of Canada’s Top Growing Companies.
Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Delta 9 Cannabis earned its spot with three-year revenue growth of 5,413%. The Globe and Mail ranking assessment compares Delta 9’s annual revenue in 2020 ($52,047,053) with base-year revenue in 2017 ($944,114).
“We are delighted that our hard work over the last 3 years is being recognized by the Globe and Mail as one of the top growing companies in Canada. We are very proud of Delta 9’s financial performance, with record 2020 top line revenue growth, up 64% year-over year,” said John Arbuthnot, CEO of Delta 9. “We have continued this growth into Q2, 2021 revenue up 27% sequentially from first quarter and our seventh consecutive quarter of positive Adjusted EBITDA.”
Delta 9 was one of Canada’s first cannabis companies licensed by Health Canada in 2013 for medical cannabis production and sale and is now a diversified and vertically integrated cannabis company focused on bringing the highest quality cannabis products and services to market. In the wake of federal legalization of cannabis in Canada Delta 9’s diversified growth strategy has focused on three primary business divisions: (1) Delta 9 branded cannabis product manufacturing and distribution, (2) business to consumer retail cannabis sales, and (3) business-to-business cannabis equipment sales and consulting.
“Moving forward we will continue to grow our retail store network throughout Canada, as well as online with our retail business strategy. We will add new craft brands which will enhance our product portfolio and market share, and we will continue to expand into the United States and other international markets as they develop through our cannabis and non-cannabis business segments. These activities are clear indicators highlighting the strength of our operations and our entire team’s ability to outperform in challenging markets,” continued John Arbuthnot.
Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process to qualify. In total, 448 companies earned a spot on this year’s ranking.
The full list of 2021 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online.
“As we look toward the future, Canada’s Top Growing Companies offer both inspiration and practical insights for other firms facing similar challenges,” says James Cowan, Editor of Report on Business magazine. “The entrepreneurs behind these companies are smart, tenacious and unwavering in their commitment to their goals.”
“Any business leader seeking inspiration should look no further than the 448 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-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. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 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.
About The Globe and Mail
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.4 million readers every week in print or digital formats, and Report on Business magazine reaches 2 million readers in print and digital every issue. The Globe and Mail’s investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
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: (i) Delta 9’s growth strategy for retail stores, production and B2B sales; 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, as well as all risk factors set forth in the annual information form of Delta 9 dated March 31, 2021 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.
