Mettrum Announces First Quarter 2017 Financial Results
Press Release: August 22, 2016 5:51 PM ET
Q1 2017 versus Q4 2016 Financial Highlights:
TORONTO, ONTARIO--(Marketwired) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT), a fully integrated provider of cannabis products, announced today its first quarter 2017 financial results for the period ended June 30, 2016.
|Figures in CDN $||For the three months
ended June 30, 2016
|For the three months
ended March 31, 2016
|For the three months ended June 30, 2015|
|Loss from operations||(977,155||)||(1,379,200||)||(1,956,367||)|
|Net loss per share basic and diluted||
|Note (1) Adjusted EBITDA is defined as earnings before interest, depreciation, amortization, share-based compensation and income taxes.|
First Quarter ended June 30, 2016 Review
To view graphs associated with this release, visit the following link: http://media3.marketwire.com/docs/MettrumGraphs.pdf
"We are off to a very strong start in the year with all of our key operational and financial metrics continuing to move in the right direction," noted Michael Haines, CEO of Mettrum. "The combination of the momentum in our business driven by a rapidly growing client base, superior products and financial strength has Mettrum extremely well positioned for a great year ahead as we maintain our focus on growth, profitability and ultimately, delivering shareholder value."
About Mettrum Health Corp.
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the MMPR, which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the MMPR system. In addition, through its wholly owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada). For more information, visit: www.mettrumoriginals.com and www.mettrum.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company and Mettrum disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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