Benzinga | Nov 29, 2021 08:13AM EST

Another Profitable Canadian Cannabis Producer: Greenway Greenhouse Posts First Results Since Market Debut

Greenway Greenhouse (CSE:GWAY) released its first-quarter financial statements since hitting markets in September.

Revenue came in at C$1.15 million ($906,547), with gross profit before fair value adjustments at C$532,263.

The company, however, reported a net loss of C$1.26 million, on adjusted EBITDA of C$272,444.

"Attaining positive Adjusted EBITDA at this stage is a testament to the cultivation expertise of our team. We believe that we have the available infrastructure and team in place to scale up aggressively in a responsible and sustainable manner and the ability to meet our business plan of becoming one of the largest and trusted suppliers for high quality cannabis. This is just the beginning for Greenway," states Darren Peddle, CFO.

Not unlike Village Farms International (NASDAQ:VFF), Greenway Greenhouse arose from the infrastructure of an established cultivator. Privately-held Del Fresco Group, a strawberry grower with more than 50 years of operation, retains a majority stake in Greenway Greenhouse through Sunrite Greenhouses Ltd.

M?s contenido sobre cannabis en Espa?ol en El Planteo.