Green Growth Brands Inc. (OTCQB: GGBXF) released fiscal third-quarter 2019 results, with revenue at its Nevada cannabis operations growing to $5.1 million.
Green Growth reported total revenue, including both of its MSO and CBD operations, was $5.6 million. The company’s Nevada gross margin was 41 percent.
The company expanded into Massachusetts during the quarter, through completion of a transaction with Just Healthy LLC.
“This quarter we executed our strategy with speed and agility. We made great progress towards establishing our leadership in the industry, by setting new standards for consumer experiences and product,” said CEO Peter Horvath in a press release.
“[W]e plan to open new dispensaries in Nevada in the remainder of the calendar year,” added Horvath. “As an early-stage company, just over a year in, when most competitors have been operating for 4-8 years, we are proud of the accomplishments we have made. We will continue to drive towards profitability.”
Green Growth’s stock closed Wednesday’s session at $3.01 per share, up 3.6 percent.
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