Press Launch – Indiva Reviews Outcomes for The First Quarter of 2019


Not for distribution to U.S. Newswire Companies or for dissemination in the USA. Indiva Reviews Outcomes for The First Quarter of 2019 LONDON, ON – Friday Might 31, 2019: Indiva Restricted (the “Firm” or “Indiva”) (TSXV:NDVA) (US:NDVAF) is happy to report outcomes for the primary quarter ended March 31, 2019. Q1 2019 monetary outcomes: For the primary quarter ended March 31, 2019, Indiva reported gross income of $286,662 and $241,369 of web income, versus nil in Q1 2018 and income of $58,307 in This fall 2018 representing 313% sequential development. Income was derived nearly fully from gross sales of cannabis flower to the Ontario Hashish Retailer. Working bills for Q1 have been $3.63 million versus $2.05 million in Q1 2018. The rise was attributable to one-time termination funds and the write off of retail deposits, in addition to larger worker depend and facility prices as operations and manufacturing Stock at quarter-end stood at $1.44 million versus $1.16 million at 12 months finish December 31st, 2018. Money place at quarter-end stood at $8.16 million. The next desk units forth choose monetary data for the three months ended March 31, 2019 and March 31, 2018. Indiva’s monetary statements are ready in accordance with Worldwide Monetary Reporting Requirements. For additional data relating to the Firm’s monetary outcomes for these durations, please seek advice from the Firm’s Administration’s Dialogue and Evaluation and the Firm’s Condensed Consolidated Interim Monetary Statements for the durations ended March 31, 2019 and March 31, 2018 accessible at and the Firm’s web site Choose Monetary Data Three months ended March 31, 2019$ 2018$ Web income 241,369 Nil Working bills 2,633,499 2,054,053 Web loss (3,628,481) (2,016,688) Complete complete loss (3,628,481) (2,044,187) Web loss per widespread share (0.04) (0.03) Weighted common widespread shares, fundamental and diluted 83,036,228 72,542,726   The next is a abstract of key stability sheet objects as at March 31, 2019, in comparison with December 31, 2018: Money was $8.2 million as in comparison with $19.6 million; Complete belongings of $32.2 million as in comparison with $35.Eight million; Present belongings of $11.6 million as in comparison with $22.9 million; and Complete liabilities of $6.Three million as in comparison with $6.5 million. Indiva’s achievements in Q1 2019, subsequent occasions and outlook: On February 8, 2019, Indiva introduced the signing of a provide settlement with the Ontario Hashish Retailer ( and started to ship its first pre-roll SKUs later within the month. Indiva has since launched an additional pressure and topic to Well being Canada approval is making ready to ship gel capsules to the OCS; On February 19, 2019, Indiva bought the property and manufacturing facility in London, Ontario for $5.55 million; Indiva expects to proceed to pursue additional distribution agreements and is presently in dialogue with further provinces; Building of all eight (8) further flower rooms is full and the Firm is awaiting Well being Canada approval for the primary three (3) rooms whereas the video proof package deal for the ultimate 5 (5) will probably be submitted to Well being Canada earlier than the tip of Q2; Gear for Indiva’s gel capsule and tincture processing line has been delivered, put in and commissioned. Indiva believes it’s properly positioned to ship by-product merchandise to the OCS as quickly as licensing is obtained from Well being Canada; and Building continues to be on observe on the London facility and substantial progress has been made in Q1. The 70-tonne extraction system, which administration estimates will produce some four million grams of distillate yearly, and processing areas are anticipated to be accomplished by late Q3 2019. Indiva expects to pursue wholesale relationships with LPs for extraction and processing companies. “We’re very happy to point out the start of the income ramp and natural development we anticipate for 2019 and past. We anticipate to ship additional SKUs to the OCS and signal agreements with further provincial distributors in 2019. The market is raring for high quality product and Indiva is able to serve it,” stated Niel Marotta, President and CEO.   Report Date for Upcoming Shareholder Assembly The Firm want to make clear that Might 21, 2019 was the file date for figuring out shareholders of the Firm entitled to obtain discover of, and to vote at, the Firm’s annual and particular shareholder assembly (the “Assembly”) being held on June 25, 2019 in Toronto. The Firm inadvertently marketed April 26, 2019 because the file date in its administration data round for the upcoming Assembly. Please seek advice from the Discover of Assembly and Report Date posted underneath the Firm’s SEDAR profile on April 26, 2019 for an entire listing of essential dates associated to the Assembly.   Contact Data Niel Marotta, CEO, INDIVA Cellphone: 613-883-8541 E-mail: [email protected] Steve Low, Investor Relations Cellphone: 647-620-5101 E-mail: [email protected]   About Indiva Indiva is a Licensed Producer of medical grade cannabis. Our intention is to carry our household of worldwide cannabis manufacturers to Canadians and cannabis fanatics all over the world. As marijuana legal guidelines liberalize globally, Indiva will develop its product providing to incorporate protected edibles and different client-friendly cannabis merchandise. In Canada, Indiva will produce and distribute Ruby Hashish Sugar, Sapphire Salt, Ruby Gems, in addition to award successful Bhang Chocolate and different by-product merchandise by way of license agreements and joint- ventures respectively. As well as, as marijuana legal guidelines liberalize internationally, Indiva will use its Canadian operations as a platform to open new markets for its cannabis merchandise.   DISCLAIMER & READER ADVISORY Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) has in any manner handed upon the deserves of the Transaction and neither of the foregoing entities accepts accountability for the adequacy or accuracy of this launch or has in any manner authorised or disapproved of the contents of this press launch. Sure statements contained on this press launch represent forward-looking data. These statements relate to future occasions or future efficiency. The usage of any of the phrases “might”, “intend”, “anticipate”, “imagine”, “will”, “projected”, “estimated” and related expressions and statements regarding issues that aren’t historic info are meant to determine […]

The submit Press Launch – Indiva Reviews Outcomes for The First Quarter of 2019 appeared first on INDIVA.


Latest posts