Business
SIMPLY SOLVENTLESS ANNOUNCES THAT PROFITABILITY HAS BEEN ACHIEVED AT HUMBLE GROW CO., THAT INITIAL RESULTS ARE EXCEEDING PROJECTIONS & 2024 ANNUAL FINANCIAL RESULTS WILL BE RELEASED ON APRIL 30, 2025
Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") is pleased to announce that profitability at Humble Grow Co. ("Humble") has been achieved and that initial post integration Humble results are exceeding projections. SSC views this achievement as further proof of concept of its strategy focused on organic revenue growth and acquisitions. SSC also announces that it will release its 2024 audited annual financial results on April 30, 2025.
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/","length":91,"tagName":"p","attribs":{}},{"type":"text","content":"CALGARY, AB, April 22, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") is pleased to announce that profitability at Humble Grow Co. ("Humble") has been achieved and that initial post integration Humble results are exceeding projections. SSC views this achievement as further proof of concept of its strategy focused on organic revenue growth and acquisitions. SSC also announces that it will release its 2024 audited annual financial results on April 30, 2025.","length":503,"tagName":"p"},{"type":"image","alt":"SSC Logo (CNW Group/Simply Solventless Concentrates Ltd.)","displaySize":"","headline":null,"caption":"SSC Logo (CNW Group/Simply Solventless Concentrates Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":191,"url":"https://media.zenfs.com/en/cnwgroup.com/21dceb1a198dfdf975937366a43308d4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_XavhZ9Nvxi_CJ0MAoW4_w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMzNztjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/21dceb1a198dfdf975937366a43308d4","width":400,"height":191}},"href":"https://mma.prnewswire.com/media/2669652/Simply_Solventless_Concentrates_Ltd__SIMPLY_SOLVENTLESS_ANNOUNCE.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Initial Humble Results ","length":22,"tagName":"p"},{"type":"text","content":"SSC has completed the integration of its wholly owned subsidiary, Humble, acquired on February 28, 2025. Overall, total Humble operating expenses have been reduced by 40% from approximately $12.5 million annualized to approximately $7.2 million annualized in April 2025 while maintaining annualized production levels of approximately 9,000 kilograms ("KG") of cannabis per year. SSC is observing strong demand for the cannabis produced from the Humble facility both domestically and internationally.","length":509,"tagName":"p"},{"type":"text","content":"In March 2025, the first month of operations post closing, Humble generated gross revenue of approximately $933,000 ($11.2 million annualized) against total expenses of approximately $670,000 ($8.0 million annualized), resulting in EBITDA of approximately $266,000...