Cannabis Global Comments on Its Dramatic Business Turnaround – While Many Cannabis Companies Are Retrenching, CBGL Exceeds in Most Categories
LOS ANGELES, CA / ACCESSWIRE / June 1, 2022 / Cannabis Global, Inc. (OTC PINK:CBGL), a licensed Los Angeles-based manufacturer and distributor in the cannabis sector, today prepares to close out its third fiscal quarter ending May 31, 2022, with significant growth across all categories. The Company expects to report a considerable increase in the number of product SKUs shipping during the quarter, a substantial expansion of its retail presence, and most importantly, strong revenue growth when much of the California cannabis industry is retrenching. Cannabis Global expects the strong growth it is experiencing to continue into subsequent quarters.
“We are significantly exceeding our internal goals. We believe we are set on a solid growth trajectory as we add numerous product lines in high growth areas and increase our marketing presence. We could not be more excited about our turnaround. We see a strong path for us through the rest of 2022,” commented Company CEO Arman Tabatabaei.
While maintaining its current book of business, which is already experiencing strong growth, Cannabis Global will be seeking to further boost its growth prospects by launching over the next few weeks: 1) a high-end Northern Lights brand with nine new products of premium flower and solventless edibles, 2) a new “El Cheapo” edibles line based on the product positioning of significantly better ingredients at industry beating prices, 3) solventless rosin vape cartridges, 4) three new SKUs of premium rosin enhanced pre-rolls, 5) three new varieties of packaged cannabis flower, and 6) a new distribution agreement for an additional major Southern California delivery service.
In addition, the Company is pleased to announce work has already begun on manufacturing and distributing a new line of indoor cultivated exotic flower strains, with the first being the highly conveyed super exotic RS11 strain, which is now ready for distribution. The Company plans to introduce flower and solventless products based on RS11 over the coming two weeks.
Mr. Tabatabaei continued, “We are in a great position as we continue to experience a meaningful turnaround in our business. Our teams are motivated and performing ahead of expectations, and we have selected some unique product directions, which are now about to launch. We plan to further accelerate growth in our business by expanding our selective vertical integration strategy, being highly selective relative to the types of products we introduce, and by continuing to make wise choices relative to marketing partnerships. Finally, we appreciate all the support our new customers, investors, and our board of directors have provided to us as we revamped our operations to further expand into the California cannabis marketplace.”
About Cannabis Global, Inc.
Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio. We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: Cannabis Global, Inc.
View source version on accesswire.com: