Ayurcann Holdings Corp. Reports Record 2021 Revenues and Profits

Published: November 1, 2021

Ayurcann Holdings Corp. Reports Record 2021 Revenues and Profits

Ayurcann Holdings Corp., a Canadian cannabis extraction company specializing in the processing of cannabis and hemp to produce oils and various derivative products reported today financial and operating results for the year ending June 30, 2021. All figures are reported in Canadian dollars.

Key Financial Highlights for the Fiscal Year Ending June 30, 2021

  • Ayurcann reported record revenues of $7,633,656 for the fiscal year ending June 30, 2021, an increase of 1,149% over fiscal year 2020·
  • Ayurcann reported substantial growth in Operating Income of $2,159,309, an increase of 440% over fiscal year 2020 and representing gross margins of approximately 60%.
  • Ayurcann sold THC and CBD distillate containing over 1 billion milligrams of Cannabinoids into the Canadian market
  • Ayurcann finished the built out of Phase 2 expansion in the Pickering facility, increasing production capacity up to 300,000kg of processing and up to 3 million fill product co-manufacturing for vapes, tinctures and topical per year, further cementing themselves as a one-stop shop for Canadian LP’s seeking a branded product solution.
  • Ayurcann Holdings Corp. became publicly listed on the Canadian Securities Exchange (“CSE”) in April 2021 and listed on the Frankfurt Exchange in August 2021.

Mr. Igal Sudman, CEO of Ayurcann, added: “We are thrilled to see our revenues growing consistently. Our Margins are robust, and we are increasingly profitable. We are proud to be one of the very few in our peer group showing growing revenues and a positive operating income with a consistent path of profitability. We the one time share only cost behind us associated with our going public listing, we can confidently say that we fully expect to show continued profits going forward while building on our momentum.”

Operational Highlights

  • Signed multiple international brands to manufacture and distribution agreements including Innocan Pharma from Israel, Green Bee Botanicals from California, and Her Highness from New York.
  • Signed a supply agreement into Saskatchewan with NDC and have shipped its Fuego vapes and Vida tinctures into retailers
  • Entered into licence agreements with Alberta AGLC for the Fuego vapes
  • Entered into supply agreement into Ontario for the Fuego vapes and its topicals GLOW
  • Signed a supply agreement into Manitoba for its Fuego vapes and Vida tinctures
  • Launched Ayurcann Marketplace, the marketplace for medical cannabis access in Canada
  • Signed medical education agreement with multiple clinics to engage with over 10000 patients

Mr. Sudman further commented on operational growth and entry into 5 new markets; “With the phase 2 build out completed, we have increased bulk production capacity up to 300,000 kilograms per year and have the ability to co-pack up to 3 million production products for the medicinal and recreational markets. We are confident that we will continue securing additional, supply and manufacturing agreements with top-tier customers across the country, thereby helping grow our top line revenues while maintain healthy margins.”

About Ayurcann Holdings Corp.
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is striving to become a partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.