VANCOUVER, BC , June 11, 2020 – Hollister Biosciences Inc. (HOLL.CN) (HSTRF) (HOB.F) (the “Company“, “Hollister Cannabis Co.” or “ Hollister “) a diversified cannabis branding company with products in over 220 dispensaries throughout California , is pleased to announce that its 100% owned subsidiary Venom Extracts (“Venom“) generated record revenue and EBITDA for the month of May 2020.
For the month of May 2020 , Venom reports that it generated record revenue of CDN$ 3.75 million from its product line of Cannabis Concentrates, P.H.O Concentrates and Cartridges, representing the highest revenue Venom has achieved in a single month. As compared to May 2019 , Venom’s revenue increased 163%. The Company cautions that revenue figures have not yet been audited and are based on reports prepared by Venom management.
“We are firing on all cylinders here at Venom” shared Jake Cohen , Founder of Venom Extracts. “Having our best month ever in terms of revenue and EBITDA speaks to the resilience of our business model in the face of these uncertain times as well as the healthy customer demand for our product line.”
“We are very excited to see these record monthly revenues. We are looking forward to replicating Venom’s business model in our California facilities and beyond.” shared Carl Saling , CEO of Hollister Biosciences Inc.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis & hemp products. Hollister uses a high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker”.
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Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
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SOURCE Hollister Biosciences Inc.
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