WCEXF - WCEXF STOCK NEWS

World-Class Extractions (OTCQB: WCEXF) congratulated its subsidiary, Pineapple Express Delivery (PED), on achieving a significant milestone of 1 million deliveries. Since its inception in 2018, PED has expanded from 12 to 200 drivers, servicing 12 cities across Canada. The surge in online shopping, especially during the pandemic, has driven demand for PED's logistics technology. According to a recent survey, 59% of Canadians increased online shopping habits, and 61% anticipate cashless transactions as a norm.

Pineapple Express Delivery reported revenues of $2.77 million for January-April 2021, with April alone contributing $966,661. The company's gross margin remained stable at 24%. An increase of 18% in deliveries was noted, totaling 65,768 compared to March. However, COVID-19 restrictions led to a temporary suspension of same-day delivery, impacting revenue expectations. Additional revenue of $52,400 was generated from software licensing. The company issued 2 million stock options at an exercise price of $0.05 per share.

World-Class Extractions Inc. (OTCQB: WCEXF) reported impressive revenue growth of 2,653% for the quarter ended January 31, 2021, with revenues reaching $2,649,140 compared to $75,562 in the same quarter in 2020. The gross margin remained stable at 27%. The company reported a net loss of $626,878 for the quarter, a notable improvement from a loss of $33,144,218 in January 2020. Cash reserves declined to $3,017,799, while working capital stood at $911,231 as of January 31, 2021.

World-Class Extractions Inc. (OTCQB:WCEXF) has been granted U.S. Patent No. 10,946,306 for innovative methods of extracting cannabinoids from cannabis and hemp crops. This patent underlines the company's commitment to sustainable and efficient extraction processes, minimizing energy and solvent use while maximizing yield. The technology allows for effective extraction from both fresh and stored plant material, addressing commercial demand fluctuations. The patent complements World-Class's mission to enhance large-scale cannabis production and supports its future growth in the evolving cannabis industry.

World-Class Extractions Inc. (OTCQB:WCEXF) announces a partnership between its subsidiary Pineapple Express Delivery and CannTrust Inc. to enhance delivery services for estora^TM medical cannabis patients in Ontario. The initiative offers same-day deliveries in the Greater Toronto Area and next-day deliveries across Southern Ontario, including major cities such as Ottawa and London. This collaboration aims to ensure timely and secure access to high-quality medical cannabis products, with the launch of an ecommerce platform for patient orders.

World-Class Extractions Inc. announced a revenue update for its subsidiary, Pineapple Express Delivery Inc. (PED), reporting a total revenue of $7.55 million for 2020. January 2021 revenues reached $926,203, a 5% increase from December 2020, with a gross margin of 27%. The number of deliveries also grew by 1% from the previous month. PED's growth is attributed to the rise in e-commerce and delivery services, especially in the cannabis sector across Ontario, Manitoba, and Saskatchewan.

World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) has received U.S. Patent No. 10,851,077 for methods of cannabinoid extraction using ultrasound-enhanced solvent extraction. Issued on December 1, 2020, this patent supports the company's intellectual property portfolio. The technology enables efficient cannabinoid recovery from various hemp plant parts, utilizing ethanol to minimize environmental impact. World-Class aims to provide sustainable and economical extraction solutions, enhancing product quality and extraction efficiency while reducing costs.

World-Class Extractions (OTCQB: WCEXF) provides a corporate update highlighting its subsidiary, Pineapple Express Delivery. September revenues reached $767,545 with a 52% gross margin. B2B deliveries have doubled since April, totaling over 415,000. The company reports a monthly order volume of ~54,000 and a 99.90% on-time delivery rate. Additionally, World-Class holds a 50% stake in Cobra Ventures, which has a $11.5 million debenture investment in HydRx Farms. Lastly, board member Donal Carrol has resigned.

World-Class Extractions Inc. (OTCQB: WCEXF) announced its acquisition of a senior secured convertible debenture worth CDN$11.5 million from Aphria Inc., secured against all assets of HydRx Farms Inc. The debenture, currently in default, covers a state-of-the-art facility in Ontario, which is fully licensed for cannabis production. This investment is a significant step for World-Class and its 50%-owned subsidiary, Cobra Ventures, amidst a growing cannabis market. CEO Rosy Mondin emphasized the potential of this advanced facility, backed by over CDN$50 million in investments.