Simply Solventless Concentrates Ltd. provided an update regarding the Lamplighter acquisition integration and initial Lamplighter purchase orders. SSC also advises that it has posted an updated investor presentation to its website and conducted a Proactive Investors video interview on February 9th, 2024.
Lamplighter Integration and Initial Lamplighter Purchase Orders
SSC acquired Lamplighter on a 100% vendor financed basis on January 17, 2024, for consideration of up to $570,000. Lamplighter is being integrated into SSC’s operations ahead of schedule, with twelve of twenty-one pre-acquisition listings transferred to SSC in the first month. SSC is working to transfer the remaining nine listings as soon as possible.
First month purchase orders on seven of the twelve transferred listings totalled $511,000. Lamplighter’s Tiger Berry 3×0.5g Infused Prerolls were the #13 3×0.5g infused preroll in Ontario during January 2024 on a sales basis, with 645 cases sold to retail stores. The 3×0.5g format is the largest format in the infused preroll category.
Jeff Swainson, President and CEO of SSC stated: “Lamplighter purchase orders received to date indicate revenue run rates analogous to Lamplighter’s 2023 projected gross revenue of $6.8 million. We are encouraged by the value that this acquisition is already providing to our shareholders, and by what our team will accomplish with the Lamplighter brand through 2024. SSC will provide Q1 2024 revenue guidance, which will include consolidated Astrolab, Frootyhooty, Lamplighter, and B2B revenue, on or around April 1, 2024″.
About Simply Solventless Concentrates Ltd.
SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC’s mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see www.simplysolventless.ca.
