CBD of Denver Inc. Reports Q1 Revenue

Rhea-AI Summary

CBD of Denver, Inc. (CBDD) reports a revenue of $1,116,300.00 USD in Q1 2024, with significant growth compared to Q1 2023. Luxora and Libra 9 GmbH contribute substantially to the revenue. Luxora is focusing on strategic initiatives for the German market, including leasing facilities to cannabis clubs. Stefan Röhrl, Luxora's CSO, will participate in a panel at the International Cannabis Business Conference in Berlin.

Positive

• CBDD reports a revenue of $1,116,300.00 USD in Q1 2024, showing a growth of close to 300 percent compared to Q1 2023.
• Luxora and Libra 9 GmbH significantly contribute to CBDD's revenue, with Luxora responsible for approximately $940,700.00 USD.
• Luxora is focusing on strategic initiatives for the German market, including securing facilities for cannabis clubs and leasing grow compartments.
• Stefan Röhrl, Luxora's CSO, will participate in a panel at the International Cannabis Business Conference in Berlin, discussing opportunities for Germany's cannabis club sector.

Negative

• None.

Denver, Colorado--(Newsfile Corp. - April 9, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) today announced that its revenue for the first quarter of 2024 was approximately $1,116,300.00 USD. Of this, Libra 9 GmbH contributed approximately $175,600.00 USD, while Luxora was responsible for approximately $940,700.00 USD. This represents a revenue growth of close to 300 percent compared to Q1 2023, which reported revenue of $285,000.00 USD.

Luxora's management team, from two continents and four countries, will convene in Berlin on April 15, shortly before the International Cannabis Business Conference (ICBC), to discuss further strategic initiatives for the German market, aligning with the latest legislative developments in Germany. Currently, Luxora is in talks to secure potential facilities for construction and leasing to cannabis clubs in Germany, tailored to the Luxora Solutions project. A pre-lease contract has been finalized to start collecting down payments and onboarding the first cannabis clubs. Moreover, there is a list of the first 35 entities that have shown interest in leasing grow compartments within Luxora's Solutions business model. During the conference, Stefan Röhrl, Luxora's Chief Strategy Officer (CSO), will participate in a panel titled "German Social Clubs - What opportunities exist for Germany's cannabis club sector?" on April 16 at 11:35 CET. This panel will be moderated by Alex Revich, an equity partner at Hybrid Pharm.

Current updates:

CBD of Denver expects to file its annual report with OTC Markets shortly. The Company has made great progress streamlining its internal reporting.

The name change to Berliner Innovation is progressing and the company will be providing information to Finra. We look forward to completing this process soon.

About CBD of Denver, Inc. (BERLINER INNOVATION)

CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.

Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.

Follow The Magic Lappen on Instagram: @themagiclappen

Shop on our website: https://www.the-magic-lappen.com/

Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de

See our innovative Anti-Slip product: www.berlinr13.de

For questions, please contact us at: investors@libra9.de

About LUXORA Inc.

LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.

For inquiries, please contact Investor Relations: investors@luxora-holding.com

For more information, please visit: www.luxora-holding.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204798

FAQ

What was CBD of Denver, Inc.'s revenue in Q1 2024?

CBD of Denver, Inc. reported a revenue of $1,116,300.00 USD in Q1 2024.

How does Q1 2024 revenue compare to Q1 2023 revenue?

The revenue in Q1 2024 showed a growth of close to 300 percent compared to Q1 2023.

Which companies contributed to CBDD's revenue in Q1 2024?

Luxora and Libra 9 GmbH were significant contributors to CBDD's revenue in Q1 2024.

What strategic initiatives is Luxora focusing on for the German market?

Luxora is focusing on securing facilities for construction and leasing to cannabis clubs in Germany.

Who will participate in a panel at the International Cannabis Business Conference in Berlin?

Stefan Röhrl, Luxora's CSO, will participate in a panel at the conference.