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Sativa Wellness Group has launched a membership scheme offering its new 30ml 20% CBD Oil at a 20% discount, which is 20% stronger than the cheapest options available. Members receive 50% more CBD or 50% less cost compared to average market prices. The company guarantees Best Quality & Best Price for its Goodbody branded products, promising a money-back guarantee if cheaper alternatives with the same quality are found. This initiative is part of Sativa's strategy to provide high-quality CBD products at more accessible prices.
Sativa Wellness Group Inc. (CSE:SWEL)(OTC PINK:SCNNF) has confirmed compliance with post-offer intentions following its share-for-share exchange with Sativa Group plc. The exchange became effective on September 3, 2020, and involved a court-sanctioned scheme. The company acknowledged board changes that deviate from initial intentions, prompted by a major shareholder, Geremy Thomas. Financial statements for Q2 2021 are available on SEDAR. The board accepts responsibility for the announcement's content.
Sativa Wellness Group has signed an exclusive distribution agreement with Lexamed GMBH to expand its Goodbody CBD brand in Germany, with future plans for Europe. This deal includes the transfer of full ownership of Sativa GMBH to Lexamed, which will be renamed Lexalife GMBH, serving as the distribution partner. The existing Goodbody range will be made available through various channels in Germany, and both companies aim to develop new products. This strategic move is anticipated to enhance Sativa's footprint in the strong German CBD market.
Sativa Wellness Group reported its first quarterly profit for Q2 2021, achieving revenues of C$6.0 million, an increase of 828% compared to Q2 2020. The company's gross profit rose by 804%, totaling C$3.3 million. This marks a turnaround from a loss of C$2.4 million in the same period last year to a net profit of C$79,000. With 57 operational COVID testing clinics and an ongoing expansion in the CBD sector, Sativa has significantly improved its financial standing amidst strategic restructuring into three business units.
Sativa Wellness Group has unveiled its new business strategy following a strong start in 2021, reporting record quarterly turnover of £1.37 million in Q1. The company has appointed new leadership and established three divisions: CBD products, Cannabinoid testing, and Clinic Testing Services. Significant progress includes generating profits in 2021 and achieving ISO 17025 accreditation for cannabinoid testing. The company aims to expand its product range and clinic network, with full revenue results for the first half of the year expected in August.
Sativa Wellness Group announces the grant of 1,447,173 options and 1,447,173 warrants to CEO Marc Howells. Both options and warrants have an exercise price of CS0.062 and vest immediately. The options are valid for 5 years, while the warrants are valid for 3 years. These grants replace returned options from former employees, thereby not increasing the total outstanding options and warrants. This information is part of a broader disclosure made by the company on SEDAR.
Sativa Wellness Group announces the opening of its 40th clinic and a new listing on Patient Access, which serves 12 million users. The company reports strong demand for services, particularly from travelers to 'Amber List' countries, and has introduced COVID-19 blood testing in some clinics. Executive Chairman Geremy Thomas highlights robust Q2 revenues, attributing success to ongoing demand for PCR and blood testing amid travel restrictions. The company's innovative services are expected to continue attracting customers in a changing travel landscape.
Sativa Wellness Group (CSE:SWEL) announced the publication of a research paper in collaboration with King's College London, focusing on the therapeutic use of cannabinoids for respiratory diseases. The study revealed that cannabidiol (CBD) and cannabigerol (CBG) demonstrate significant anti-inflammatory effects when used together in pulmonary inflammation models. This research supports the potential of cannabinoids in treating inflammatory diseases and emphasizes the importance of formulation for efficacy. The company plans to continue investing in cannabinoid research through its brands, Goodbody Botanicals and Goodbody Store.
Sativa Wellness Group announced its Q1 2021 financial results, achieving a 377% increase in revenue to £1.37m, marking its highest quarter since inception. Gross profit rose 234% to £707K, with a 50% reduction in adjusted EBITDA loss to £404K. The loss per share decreased by 63% to 0.30 pence. The Company also expanded into the wellness sector with 30 COVID testing clinics and submitted a Novel Food Application ahead of the deadline. Subsequent highlights include ISO accreditation for Phytovista Laboratories and private placement closures yielding C$4.6m.
Sativa Wellness Group has released amended financial statements for the three and nine months ended September 30, 2020, correcting the share exchange arrangement from its acquisition of Sativa Group. These amended financials are aligned with the December 2020 Year-End Financial Statements and have been restated in British Pounds (GBP) to reflect the company's relevant currency. Key adjustments include a reduction in goodwill by £4.9 million and a decrease in shareholders equity by £4.25 million. The amended statements are accessible on SEDAR.
