Experion Holdings Ltd (OTCMKTS:EXPFF) posted an impressive growth of 405% YoY to $4.06 million in Q1 2021.
Experion sold 481,632 grams of high-quality flower in Q1 2021 through its retail distribution channels. It is an increase of 51% QoQ.
The average per gram price of the dried flower is $8.35. It reflects a strong interest in dried flower in the Canadian market.
Increases SKUs to 13
Experion improved its product SKUs to 13 from 8 with Ontario Cannabis Stores. The company has unveiled Citizen Stash edible gummy because of widespread coronavirus restrictions.
In Q1 2021, Experion unveiled two new strains – Fruity Pebbles and Sundae Driver to the B.C. market.
Experion is among the top 20 suppliers to the Cannabis Stores in Ontario in terms of volume and total sales within three months of making an entry in Ontario.
Strengthens balance sheet
Experion strengthened its balance sheet by adding assets worth $13.3 million.
CEO of Experion, Jarrett Malnarich said the company carried on the momentum created in 2020 to post record growth in Q1 2021. He said the company rapidly improved its brand footprint as a trusted manufacturer of high-quality cannabis products across the nation despite the negative impact caused by the COVID-19 pandemic, mainly in Ontario. It is the sixth consecutive quarter for the company to deliver sequential growth in sales.
Jarrett receives an invitation
Jarrett received an invitation to participate in the live presentation at EGC (Emerging Growth Conference) on April 2021. The company issued a bulletin to its investors, shareholders, and analysts to utilize the interactive presentation to ask questions or learn about Citizen Stash and Experion.
Signs an accord with The Valens Company
Experion entered a manufacturing deal with The Valens Company. As per the terms of the agreement, Valens will engage in the manufacture of pre-roll. It will also support the distribution of premium cannabis offerings of Experion.
It is the first manufacturing agreement for Valens after receiving an amended license from Health Canada for the sale of dried cannabis products.
The alliance helps Experion to expand the presence of its existing well-known Citizen Stash pre-rolls to satisfy the growing demand for premium cannabis products.