Grown Rogue Reports Record Pro-Forma Revenue of $2.75M and Pro-Forma Adjusted EBITDA of $0.5M


MEDFORD, Ore.–(BUSINESS WIRE)–Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a multi-state cannabis company with operations and assets in Oregon and Michigan, reports record pro-forma revenue of $2.75M, helping to drive the sixth consecutive quarter of positive adjusted pro-forma EBITDA1,3 of $0.5M for the three months ended April 30, 2021. All amounts are expressed in United States Dollars unless otherwise indicated. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures. Financial and Business Highlights Company record pro-forma revenue3 of $2.75M, a sequential increase of 37% over Q1 2021 Sixth consecutive quarter of positive Adjusted pro-forma EBITDA1,3 of $0.5M, a sequential increase of 137% Company record pro-forma EBITDA margin of 19% vs 11% sequentially, due to operational efficiencies from scaling our business Transformed the balance sheet with assets increasing from Q1 2021 by 51% to $8.7M and liabilities decreasing 52% to $3.8M Closed a brokered private placement for aggregate gross proceeds of $4.7M CAD Retired senior secured convertible debentures including a cash payment of $1.5M CAD. The repayment of the principal results in the elimination of a potential issuance of 12.3M shares or approximately 8% of the current outstanding shares and saves the Company CAD$100k in interest payments. Completed construction to add 40% additional capacity at current Oregon indoor facility Executed an asset purchase agreement to acquire a turn-key 30,000 square foot indoor growing facility in Medford, Oregon and a retail dispensary in Portland, Oregon from HSCP, LLC, a subsidiary of Acreage Holdings Inc. Acquired remaining equity of subsidiary Grown Rogue Distribution, LLC to return to 100% ownership Subsequent to quarter-end, Grown Rogue exercised option and acquired 60% controlling interest of Golden Harvests “Grown Rogue continues to execute upon our strategy of low cost, high quality cannabis cultivation with another quarter of record…

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Source : Grown Rogue Reports Record Pro-Forma Revenue of .75M and Pro-Forma Adjusted EBITDA of {$permalink}.5M

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