WINNIPEG, Manitoba, Nov. 10, 2022 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”) is pleased to provide guidance on its revenue forecast for the three-month and nine-month period ending September 30, 2022 based on preliminary results:
The Company anticipates revenue for the three-month period ending September 30, 2022, to be between $15.5 million and $15.8 million compared with $15.2 million for the same period last year.
The Company anticipates revenue for the nine-month period ending September 30, 2022, to be between $45.5 million and $45.8 million, compared to $45.2 million for the same period last year.
The Company will provide investors with a full breakdown of revenue and financial results as part of its Financial Statements and Management Discussion and Analysis for the three-month and nine-month period ending September 30, 2022. A news release on the financials will be issued on November 14, 2022, after markets close. This will be followed by a conference call the following morning, the details of which can be found at the end of this release.
The preliminary estimated revenues for the three-month and nine-month period ended September 30, 2022, set forth above are subject to the completion of the Company's financial closing procedures. These preliminary estimated financial results have been prepared by and are the responsibility of the Company's management.
The Company currently expects that its final results for revenue will be consistent with the estimates set forth above, but such estimates are preliminary, and the Company’s actual results of operations and other data could differ materially from these estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between now and the time such consolidated financial statements for the period ended September 30, 2022 are issued.
Q3 2022 Conference Call
Delta 9 will release the results for the third quarter of 2022 on November 14, 2022. A conference call to discuss the above results is scheduled for the morning of November 15, 2022. The conference call will be hosted that day at 10:00 a.m. Eastern Time by John Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial Officer, followed by a question-and-answer period.
November 15, 2022
10:00 am Eastern Time
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About Delta 9 Cannabis Inc:
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The Company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9's shares trade on the Toronto Stock Exchange under the symbol "DN" and on the OTCQX under the symbol “DLTNF”. For more information, please visit www.delta9.ca.
Disclaimer for Forward Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to Delta 9’s financial results for the quarter ended September 30, 2022. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the Company’s actual financial results being different from its estimates as well as all risk factors set forth in the annual information form of Delta 9 dated March 31, 2022 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.