Thoughtful Brands Reports August, July and June 2020 Revenue Totaling of CDN$8,861,000 for Nature’s Exclusive Representing a 19% Increase over the same Period in 2019
Thoughtful Brands Inc. (CSE:TBI, OTCQB:PEMTF) reported strong financial results for August 2020, reflecting a total revenue of Cdn$3,809,000, with expenses of Cdn$3,652,000. This follows July's revenue of Cdn$2,340,000 against expenses of Cdn$2,418,000 and June's revenue of Cdn$2,712,000 with expenses of Cdn$2,775,000. The three-month revenue totaled Cdn$8,861,000, a 19% increase year-over-year. Recent strategic acquisitions in the nutraceutical and CBD sectors enhance growth prospects, alongside the launch of Ecommerce Tech LLC, aimed at optimizing operational efficiency across its eCommerce platforms.
- Revenue for August 2020 totaled Cdn$3,809,000, up from Cdn$2,340,000 in July and Cdn$2,712,000 in June.
- Total revenue from June to August 2020 was Cdn$8,861,000, marking a 19% increase compared to the same period in 2019.
- Acquisition of Golden Path LLC and Wild Mariposa LLC enhances the product portfolio in the nutraceutical and CBD sectors.
- Expansion into European markets through a joint venture with Franchise Cannabis Corp.
- Launch of Ecommerce Tech LLC aimed at enhancing eCommerce operations.
- All reported financial figures are unaudited and subject to change.
- Operational expenses have been high relative to revenues, with expenses of Cdn$3,652,000 in August exceeding the revenue for that month.
VANCOUVER, BC / ACCESSWIRE / September 15, 2020 / Thoughtful Brands, Inc. (CSE:TBI)(FWB:1WZ1)(OTCQB:PEMTF) (the "Company" or "Thoughtful Brands"), a global natural health products and eCommerce technology company, is pleased to report its financial results for August, July and June 2020. Revenue for the month of August totaled Cdn
The Company's August 2020 financial results follow recent strategic acquisitions, expansions into new marketplaces and strong sales performances from established brands:
- In August 2020 Thoughtful Brands enhanced its portfolio in the nutraceutical and hemp-based CBD product space through the acquisition of Golden Path LLC and Wild Mariposa LLC, two direct-to-consumer eCommerce brands offering natural health products throughout the U.S.
- In July 2020, the Company announced a European expansion through a joint venture with Franchise Cannabis Corp. Thoughtful Brands will now sell and market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the UK, utilizing its well-established eCommerce platform.
"By executing our meticulously planned growth strategy, the Company was positioned for a productive August and is poised to embark on even more new ventures for the remainder of 2020," said Thoughtful Brands CEO Ryan Hoggan. "With new consumer brands on our roster and new customers abroad, there are plenty of activities in the Thoughtful Brands pipeline to look forward to."
In addition, in August 2020 Thoughtful Brands launched Ecommerce Tech LLC ("Ecommerce Tech"), a new wholly owned subsidiary of the Company in the United States. Going forward, Ecommerce Tech will serve as the comprehensive operational engine for all Thoughtful Brands eCommerce ventures, paving the way for the Company to capture previously unrealized value from the products it launches in the online natural health market and launch new products in the emerging natural health markets worldwide more efficiently than before.
"Our powerful new software platform is another reason to eagerly anticipate what fall 2020 has in store for Thoughtful Brands," added Hoggan.
The Company cautions that reported figures for revenue and expenses have not been audited and are based on calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. These figures were translated from United States Dollars into Canadian Dollars using an exchange rate of
About Thoughtful Brands Inc.
Thoughtful Brands Inc. is an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe. Through continuous strategic acquisitions, the Company has a strong footprint in the CBD market, as well as the burgeoning psychedelic medicine sector. Thoughtful Brands owns and operates a 110,000 square foot pharmaceutical manufacturing facility in Radebeul, Germany, where its highly skilled team conducts clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction, while planning for future opportunities to create proprietary psilocybin products.
ON BEHALF OF THE BOARD OF DIRECTORS
THOUGHTFUL BRANDS INC.
Ryan Hoggan
Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President at +604.423.4733 or by email at info@thoughtful-brands.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to its plans to launch and distribute additional products utilizing its eCommerce technology platform. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: Thoughtful Brands Inc.
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