There might be a new Canadian cannabis giant in the making. And they’re going all in on the opportunity in concentrates and vaping.
What’s happening:
- Simply Solventless (TSXV: HASH) has announced their most recent quarterly financials, which saw a meaningful uptick in sales growth
By the numbers:
- Simply Solventless generated $7.1M CAD in total gross revenue in their most recent quarter and $2M CAD in gross profit
- Their most recent quarterly revenue represents growth of 75% year over year
Why it matters:
- Simply Solventless has been one of the few early stage publicly listed cannabis companies in North America to successfully continue to scale up sales, which has been an issue that has plagued the cannabis ecosystem as a whole and caused a significant decline in the volume of equity financings for cannabis brand operators
Going deeper:
- Simply Solventless owns multiple different retail brands focused on high potency concentrates and vape cartridges that are available for recreational cannabis consumers in Canada including AstroLab and Lamplighter
The intrigue:
- Simply Solventless also recently acquired popular online cannabis marketplace CannMart, which was previously owned by Namaste Technologies before a dramatic and highly publicized collapse in their share price and the subsequent winding down of the majority of their operations
