WDDMF - Entourage Reports $13 Million In Second Quarter Revenue
Entourage Health Corp. (formerly WeedMD Inc.) (TSX-V:ENTG) (OTCQX:WDDMF) announced preliminary unaudited revenues of $13.6 million for the three months ending June 30, 2021. The company said this was another sequential quarter of record sales growth across its adult-use and medical sales channels.
“The launch of our expanded portfolio of products, increased retail sales presence and distribution across Canada – combined with further developments in our medical sales platform – resulted in sequential quarter growth and a meaningful increase in our Q2 revenue,” said George Scorsis, Interim CEO and Executive Chairman. “Our continued transformation initiatives, cost improvements and steadily growing consumer demand for our top-selling Color Cannabis and Saturday Cannabis dried flower, pre-rolls, vapes, live resin, and multi-pack products have positioned us well for further growth. With the expected addition of craft brand Royal City Cannabis to our portfolio, we’re looking forward to expanding our consumer offerings and bringing additional value to our shareholders.”
Entourage owns and operates a 158-acre state-of-the-art greenhouse, outdoor, and processing facility located in Strathroy, ON as well as a fully licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction.
Name Change
Entourage recently changed its name from “WeedMD Inc.” to “Entourage Health Corp.” Its common shares will continue to be publicly traded on the TSX Venture Exchange under the new ticker symbol “ENTG”, with a new CUSIP number of 293861100 and ISIN number of CA2938611001. These changes took place on July 16.
In connection with the name change, the company also confirmed its convertible debentures maturing September 25, 2022, Common Share purchase warrants expiring September 25, 2022 and Common Share purchase warrants expiring March 12, 2023 and their respective ticker symbols “ENTG.DB”, “ENTG.WT”, and “ENTG.WT.A”, also began trading on July 16.
Entourage said it plans to file its second-quarter 2021 financial statements and management’s discussion and analysis pre-market on Tuesday, August 10, 2021. Entourage will host a conference call the same day at 10 a.m. Eastern Time to review the results, provide an operational update and discuss recent milestones.