C21 Investments (CSE: CXXI) (OTCQX: CXXIF) (“C21” or the “Company”) a vertically-integrated cannabis company, today announced the release of the audited financial statements for the year ended January 31, 2021 has been revised to May 27, 2021. This date is later than the previously announced date of May 18, 2021, but still ahead of the statutory deadline of May 31, 2021.
“While we are extending our target for the release of the audited financials, we are pleased with the progress and professionalism of our new auditors from Baker Tilly,” said Michael Kidd, CFO.
Operational Update (All currency in U.S. dollars):
The Company achieved a quarterly sales record in its Nevada Dispensaries of $98,500 per day achieved in Q1 (Feb 1 – Apr 30, 2021). This represents an increase of 28% over the same period last year.
With regard to the cultivation expansion underway (see release dated April 15th), the Company now anticipates the planting in these new rooms to begin in June, ahead of schedule, with an expected yield of 2,500 pounds of additional high-grade flower annually from this phase of the project.
Further to the Oregon asset sale (see release dated January 7th), the Company is pleased to update that regulatory approval was received from OLCC and the final payment of $1 million has been received from the buyer.
