Captor Capital Releases Unaudited Financial Statements for the Quarter Ended September 30 2020

Captor Capital Corp
·3-min read

TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), (“Captor” or the “Company”), is pleased to announce today the release of its Unaudited Quarterly Financial Statements and MD&A for the quarter ended September 30, 2020. For the six months from April 1 to September 30, 2020 revenues at the Company’s cannabis dispensaries were $7,676,067, with the Company recording a gross profit of $2,655,472 from the sale of cannabis. Revenues on cannabis sales were up approximately $1 million from the same period the year previous, while gross profit was up approximately $600,000.

Financial Statement Highlights

  • During the six months ended September 30, 2020 the Company recorded revenues of $7,676,067 from the sale of cannabis at its retail dispensaries compared to $6,800,061 in the comparative period in 2019.

  • During the six months ended September 30, 2020 the Company recorded a gross profit of $2,655,472 from the sale of cannabis at its retail dispensaries compared to $2,065,008 in the comparative period in 2019.

  • During the six months ended September 30, 2020 the Company recorded a net loss of $1,718,217 ($0.04 per share) compared to $19,632,295 ($0.51 per share) in the comparative period in 2019.

Management Commentary

“The continued increase in revenues combined with substantial decreases in losses year-over-year demonstrate that Captor is heading in the right direction as we continue with a cautionary growth strategy and a keen focus on maximizing revenues from its current operations,” said Captor Capital CEO, John Zorbas. “With a major new retail presence on the horizon due to the upcoming opening of further locations, we can expect these numbers to continue to head in the right direction in 2021.”

ADDITIONAL INFORMATION
Additional information relating to the Company’s annual filing is available on SEDAR at www.sedar.com and in the Company’s Annual Financial Statements and in the Management’s Discussion and Analysis for the Quarter Ended September 30, 2020.

About Captor Capital Corp.

Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on the Canadian Securities Exchange, and the Frankfurt and Stuttgart stock exchanges. Captor provides recreational marijuana products to consumers, as well as other high demand cannabis-based goods. The Company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale.

Gavin Davidson,
Communications
Captor Capital Corp.
gavin@captorcapital.com

Forward-Looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.