Kelowna, British Columbia–(Newsfile Corp. – October 15, 2020) – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) (“Citation” or “Company”), a licensed multi-state Cannabis cultivator, producer and retailer, today released a letter from Erik Anderson, President and CEO, discussing the COVID-19 pandemic and recent company developments.
To our Shareholders:
I am following up on the “State of the Nation” communique that was sent out in March 2020 to highlight our progress of turning Citation Growth around towards profitability over the past two quarters.
The global pandemic brought on by Covid-19 has been challenging in the sense that typical personal interactions and business travel related to running a company essentially came to a halt in mid-March. Our Q1 (from April to June 30) was easily the most challenging period of time during my 28-year career. That said, our operations in Nevada and California were both classified as essential services; and, with protective measures to combat Covid-19 being put in place immediately, we continued to cultivate at our North Las Vegas facility (Apex) and sell products to patients and customers at our dispensary in Desert Hot Springs, Green Leaf Wellness (GLW).
Our corporate team in Canada was also extremely productive during this quarter and we were able to complete some important transitional achievements, namely:
adding cannabis industry veteran, Shane Dungey, to our Board of Directors; signing the LOI to sell our Celista, BC asset to Indigenomix; hosting our Virtual AGM on April 23rd; installing new LED lights at our Apex facility and implementing the proprietary organic growing methodology from our multi-generation grow team in Canada; implementing operational efficiencies and cost reduction measures to streamline both revenue generating operations in Nevada and California, which will make both more profitable over the long-term; selling our Washington state asset in Lynden, Washington to clean up our