Grown Rogue Provides Michigan Update


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, today announced record revenues for its Michigan operations, through its partner Golden Harvests, LLC (“Golden Harvests”), of over US$0.7M and greater than 60% gross margin for the month of June. Golden Harvests’ 80,000 sq ft facility has 35,000 sq ft operational that can yield upwards of 5,000 pounds of high quality indoor “A” flower. Golden Harvests is currently operating eight individual flower rooms with weekly harvests. An additional 25,000 sq ft is expected to be operational by June of 2022 increasing annual yields to over 8,000lbs. Grown Rogue’s products are currently only available in approximately 10% of dispensaries in Michigan and the Company is actively expanding the sales team as production capacity increases to establish more market share. “This record month shows the progress our company and team have made as we continue to scale our low cost, high quality flower business,” said Obie Strickler, CEO of Grown Rogue. “We are excited to continue setting record months as we add additional cultivation rooms and expand our distribution network.” The quality of Grown Rogue’s flower produced in Michigan through Golden Harvests continues to be recognized around the state driving premium pricing. According to MarketScape, pre-packaged flower has ~20% share of the flower market and sells for significantly higher than bulk flower. Grown Rogue’s nitrogen sealed jars consistently account for 30-40% of monthly company sales and at a price ~25% higher than the state pre-packaged average sales price. Other brands across the state continue to seek Grown Rogue’s flower to use as their own branded flower and pre-rolls. About Grown Rogue Grown Rogue International (CSE: GRIN | OTC: GRUSF) is a vertically-integrated, multi-state Cannabis family…

Excerpt only …
Source : Grown Rogue Provides Michigan Update

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.