Provides Cultivation Expansion Update and Sees Record Retail Revenue for March at its Nevada Dispensaries
Vancouver, British Columbia–(Newsfile Corp. – April 15, 2021) – C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) (“C21” or the “Company”), a vertically-integrated cannabis company today announces it will release its year end (fiscal period ending January 31, 2021) audited financial results on May 18, 2021.
The Company has received the requisite approvals for the first phase of its Nevada cultivation expansion (see news release dated December 2, 2020), with five new flowering and vegetative rooms currently under construction. The Company expects this phase of the project to be completed ahead of schedule, with an anticipated yield of 2,500 pounds of additional high-grade flower annually from this phase.
For March 2021, the Company achieved record monthly retail revenue at its Nevada dispensaries – 27% higher than March of 2020. Silver State Relief dispensaries saw over 50,000 customer transactions in March, including approximately 10,000 curbside pickups. Collectively, the dispensaries are now equipped with 95 curbside stalls representing 20% of all sales.
CEO and President, Sonny Newman: “We are pleased with our record retail sales in March and that our cultivation buildout is progressing well ahead of schedule. The new cultivation rooms will increase in-house product offerings, improve margins, and expand wholesale opportunities as there is strong demand for high quality flower. We continue to execute our Nevada growth strategy which includes completing the subsequent phases of our cultivation expansion and plans to extend our retail footprint. As a U.S. cannabis operator generating over $10 million in operating cash flow for the trailing twelve months, we are well positioned to continue our growth expansion and take advantage of strategic opportunities.”
For further inquiries, please contact:
Chief Financial Officer and Director
+1 833 BUY-CXXI (289-2994)
About C21 Investments Inc.
C21 Investments is a