Kelowna, British Columbia–(Newsfile Corp. – February 4, 2021) – Fiore Cannabis (CSE: FIOR) (OTCQX: FIORF) (“Fiore” or “the Company”), a licensed multi-state Cannabis cultivator, producer and retailer, today announced that the date for its Annual General Meeting (AGM) will be April 20, 2021 with the meeting expected to be held as a virtual video conference. The Company will celebrate the special 4/20 day in the cannabis space by sharing an update on its business plan and growth strategy with investors.
The Company also announced it has changed its fiscal year-end from March 31 to December 31, meaning that its 2020 consolidated financial results ending on December 31, 2020 will be released on or before April 30, 2021.
“We changed the year end to align our reporting period with the calendar year,” said Erik Anderson, Fiore’s President and CEO. “Aligning our fiscal year to the calendar makes more sense, especially with regards to financial modelling and forecasting.”
As a sign of continued progress towards sound business fundamentals and improving investor confidence, Fiore is also pleased to confirm that the convertible debenture interest payment, which was extended in cooperation with investors from October 23, 2020 to January 23, 2021, was made on time by way of a cash payment.
“We really appreciate the support and cooperation of our investors in this group,” Anderson noted. “They understand we are making progress towards turning the company around to profitability so it was nice to return that goodwill by ensuring we made the interest payment on time.”
The company’s cultivation facility in Las Vegas saw three harvests come down in January and sold the first two organic crops of 2021 to local dispensaries immediately upon packaging. Strong yields and high THC percentages were achieved, and the cultivation team expects that testing results will get even