DENVER, Colorado, and TORONTO, Canada, May 7, 2019 -- MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, today announced its financial and operating results for the year ending December 31, 2018. All amounts are expressed in Canadian dollars unless otherwise indicated.
· Revenue increased 38% Y-o-Y to $27.5 million;
· Completed the acquisition of GrowForce Holdings Inc. (“GrowForce”), a Canadian LP with a footprint in 3 Canadian provinces, estimated run rate production of 24,400 KG and strong strategic relationships with several First Nations;
· Completed the acquisition of the assets of F&L Investments LLC (“Cheyenne”), a facility located in Las Vegas, Nevada, with expected production capacity of approximately 5,800 KG;
· Received Cultivation and Sale licenses for the Company’s facility located in Brampton, ON (“WILL”) and completed first sale of product;
· From the first harvest in May 2018, MJardin’s WILL facility has produced average yields of 87 grams of flower and extractable trim per square foot of bench space, which management believes to be amongst the top yields in the industry.