PLPRF - PLPRF STOCK NEWS

Plus Products Inc. announced a stay extension until October 22, 2021, in its Companies' Creditors Arrangement Act proceedings. This follows the Supreme Court of British Columbia's approval to establish a claims process for creditors. The company aims to use this time to finalize a restructuring plan and facilitate claims distributions. Despite these proceedings, Plus Products remains operational and continues to receive support within its corporate group. Trading of PLUS shares is currently halted, and the company has requested delisting from the CSE.

Plus Products Inc. has launched its new Dual Action Sleep gummies, which offer a fast-acting sleep aid and lasting effects. Utilizing a two-part formulation, these gummies begin working in just eight minutes and maintain efficacy throughout the night. They come in two flavors, featuring unique ratios of THC, CBN, and CBD. Each gummy is crafted with natural ingredients and only 1g of sugar per serving. The innovative nano-emulsion technology enhances bioavailability for better sleep quality. These products are available in California and Nevada.

Plus Products Inc. has secured court protection from creditors under the Companies’ Creditors Arrangement Act (CCAA) to restructure its financial affairs. The Supreme Court of British Columbia granted an Initial Order allowing a stay of proceedings for 10 days, with PricewaterhouseCoopers Inc. appointed as Monitor. The company aims to continue operations and enhance its brand presence in the U.S. amid challenges in the California market. Trading of its shares has been halted pending delisting from the Canadian Securities Exchange.

Plus Products Inc. (OTCQX: PLPRF) reported Q2 2021 financial results with net revenues of $4.83M, a 12% increase year-over-year, marking the highest sales in a single quarter. Gross profits rose 24% to $1.94M, with a gross profit margin of 40%. Operating loss improved to $0.95M, down from $1.36M in Q2 2020. The company ended the period with $6.69M in cash. Strategic growth initiatives included new product launches and partnerships in the California market, which is projected to reach a market size of $6.4 billion by 2025.

Plus Products Inc. (OTCQX: PLPRF) reported preliminary unaudited net revenues of $4.8 million for Q2 2021, marking a 92% increase quarter-over-quarter from $2.5 million in Q1 2021 and 12% year-over-year growth from $4.5 million in Q2 2020. The company attributes its success to the transition to self-service distributor, Nabis Distribution, and an expanded sales team in California. Full financial results will be released on August 4, 2021, along with a conference call and webcast.

Plus Products Inc. (CSE: PLUS, OTCQX: PLPRF) has announced the release of a second batch of its limited edition PLUS Hash Gummies, following strong demand from consumers and retailers. These orange blossom-flavored gummies are infused with cold water hash extracted from the MAC cannabis strain, known for its relaxing and uplifting effects. Each gummy contains 10mg of THC and is available at select licensed dispensaries in California for a limited time. The company emphasizes its commitment to quality through the use of solventless, ice water hash for a superior consumer experience.

Plus Products Inc. announced the resignation of Matt Schmidt from its Board of Directors, effective June 28, 2021. Schmidt, who served since March 2018 and was part of the Audit Committee, provided valuable advice and financial expertise during his tenure. He expressed pride in the company's achievements and optimism for its future. Plus Products focuses on creating high-quality cannabis and hemp products aimed at improving consumer experiences.

Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) filed an Early Warning Report revealing Matt Schmidt's acquisition of additional Class B Subordinate Voting Shares. Following the Issuance, Schmidt now holds 25,100,000 Class B shares, maintaining 100% ownership of this class. His economic and voting interests equate to 125,700 Common Shares, representing a 0.26% interest in overall voting shares. The Issuance aims to help preserve the company’s status as a foreign private issuer under U.S. law. Schmidt may adjust his holdings based on market conditions.

Plus Products Inc. (OTCQX: PLPRF) announces the return of its popular Rainbow Sherbet cannabis gummies for Pride 2021. The company is collaborating with the Transgender, Gender-Variant & Intersex Justice Project (TGIJP) to donate a portion of sales to support marginalized communities. Each gummy contains 5mg of THC and features inclusive packaging inspired by the Progress Pride Flag. Last year, the company sold nearly 60,000 units and aims to surpass this figure in 2021. These limited edition gummies will be available in California's licensed retailers and delivery services.