Humble & Fume Q1 Revenue Increases 27% to C$18.1 Million – New Cannabis Ventures

Humble & Fume Inc. Announces Financial Results for First Quarter Fiscal 2022 Reports 30% year-over-year gross margin growth from $3.2 million in Q1 2021 to $4.2 million in Q1 2022. Canadian operations revenue of $8.6 million, a 27% organic increase year-over-year. Maintained a strong liquidity position, including a cash balance of $6.5 million at quarter end. Continued expansion into cannabis distribution operations in the United States with investment from Johnson Brothers through Green Acre and the acquisition of Cabo Connection for cannabis distribution licenses and facility. Announces President of Canadian Distribution and Founder of BobHQ, Robert Ritchot is retiring.

TORONTO, Nov. 24, 2021 /PRNewswire/ – Humble & Fume Inc. (CSE: HMBL) (“Humble” or the “Company”), a leading North American distributor of cannabis and cannabis accessories, today reported its first quarter fiscal 2022 (“Q1 2022”) financial and operating results for the three months ended September 30, 2021.

As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers. We are encouraged by the strong revenue growth we saw this quarter from our Canadian operations, which was driven by our expanding cannabis brands partnerships and higher margin sales from our accessory portfolio.

Joel Toguri, Chief Executive Officer of Humble

We have made huge strides towards our expansion into cannabis distribution in the United States. Last week’s announcement of Johnson Brothers investment, through Green Acre, is transformative for the legal cannabis distribution market in North America. Together with our acquisition of Cabo Connection, Humble is executing upon our business strategy and readying for its launch in California.

Mr. Toguri continued, “This past quarter

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