VANCOUVER, BC / ACCESSWIRE / November 9, 2021 / Sativa Wellness Group Inc. (CSE: SWEL) (OTC PINK: SCNNF) (“Sativa Welfare“or the”Company“) today announced a second quarterly profit in the third quarter of 2021. The company has presented its financial statements and management discussion and analysis for the third quarter of 2021, showing continued strong growth. All amounts except to the contrary indicated, they are presented in British pounds (GBP).
The company has continued to exceed all established goals to fulfill its ambition to diversify within the health and wellness sector by offering wellness testing through a network of Goodbody clinics. As of the date of this announcement, the company has more than 80 clinics in operation and the company is implementing a number of additional tests to complement its COVID tests.
Excluding currency exchange, earnings showed a stronger operating result and materially surpassed the second quarter as well as all previous quarters.
Highlights of 3Q 2021 compared to 3Q 2020 and 2Q 2021:
Revenue for Q3 2021 977% more than in the comparative quarter of 2020. C $ 8.60 million Revenue (£ 5.02 million), C $ 7.80 (£ 4.55 million) more than the previous year’s equivalent period, making it the highest revenue quarter since the beginning and the third consecutive quarter that exceeds the turnover of the previous quarters. This is an increase of C $ 2.64 (£ 1.54 million) or an increase of 44% in the second quarter.
Income in 2021 724% more than the comparative period of 2020. C $ 16.94 million (revenue of 9.88 million pounds, 14.88 million Canadian dollars (8.68 million pounds) more than the equivalent period of the previous year.
3Q 2021 Gross profit 990% more than the comparative quarter of 2020. 4.59 million Canadian dollars (2.68 million pounds), which is 4.17 million Canadian dollars (2.43 million pounds more than the equivalent period of the previous year. 53% gross was in line with the previous year.
Net profit of C $ 14,000 (£ 8,000), compared to the loss of C $ 1.19 million (£ 696,000) in the same period last year.
EBITDA for 3Q 2021 £ 268,000, compared to a negative EBITDA of C $ 1.02 million (£ 595 thousand) in the same period last year and an EBITDA of C $ 141 thousand (£ 82 thousand) in the second quarter.
German distribution agreement for CBD products signed with partners Lexamed GMBH
It has announced the release of its “Best Price, Best CBD Oil” with warranty.
Launch of the website membership plan and new product range to include bottles larger than 30 ml.
After 3Q 2021:
The story goes on
Launch of the company’s online telemedicine GP service in the UK.
Number of tests booked in one day over 850 tests and £ 100,000
Number of clinics over 80
Geremy Thomas, chief executive, says; “I am very pleased that significant business growth has accelerated during the third quarter. We are exceeding expectations and the strategy introduced earlier this year continues to validate our mission to offer consumers and partners a diverse healthcare business. and wellness.managing our investment in CBD, focusing on “Best price, best quality, our work with our pharmacy partners to create continuous community diagnosis centers continues, according to the long-term plan published by the NHS “.
The 2020 financial statements and management discussion and analysis, the 2021 third quarter financial statements and management discussion and analysis and more information about the company can be found in the company profile at www.sedar .how.
The Company’s Administrators assume responsibility for the content of this notice.
On behalf of the Board of Directors,
Marc Howells
Chief Executive Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
consultes@sativawellnessgroup.com
www.sativawellnessgroup.com
Anne Tew
Finance chief
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
consultes@sativawellnessgroup.com
www.sativawellnessgroup.com
Neither the Canadian Stock Exchange nor its market regulator (as defined in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or accuracy of this version. This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities law and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Securities Litigation Reform Act private of the United States. This information and forward-looking statements are not representative of historical facts or information or the current situation, but represent only the company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherent. uncertain and out of Sativa’s control. In general, this information or forward-looking statements can be identified by using forward-looking terminology such as “plan”, “expect” or “don’t expect”, “expect”, “budget”, “scheduled”. “,” estimates “,” forecasts “,” intends “,” anticipates “or” does not anticipate “, or” believes “” the plan is “or variations of such words and phrases or may contain statements that certain actions, events or “may”, “could”, “could”, “could” or “will be adopted”, “will continue”, “will occur”, “will be achieved” or “soon”. Prospects contained herein include, but are not limited to, information on financial statements and plans to build the financial strategy.
While Sativa believes that the assumptions and factors used in the preparation, and the expectations contained in, the information and forward-looking statements are reasonable, such information and statements should not be relied upon improperly, and no warranty can be given. or guarantee that such Information and forward-looking statements will prove to be accurate, as actual results and future events may differ materially from those provided in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Sativa does not undertake to update any forward-looking information and / or forward-looking statements that contain or refer to. here, except in accordance with applicable securities laws.
SOURCE: Sativa Wellness Group Inc.
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