True Leaf Brands, Inc., on Thursday, reported its revenue for the first quarter of 2019. The company reported global sales amounting to CA$414,657. The company that sells cannabis and hemp products for pet wellness also reported a comprehensive loss amounting to less than CA$2 million.
The company also reported diluted and basic loss amounting to CA$0.02 per share.
True Leaf said that warrant exercises allowed it to gain nearly CA$1 million in the first quarter. During the same period, the company also partnered with Atalo Holdings. It signed a cannabidiol supply agreement with Atalo. The company also appointed a new president in the person of Kevin Cole, a former executive of Mars Petcare. In addition to these activities, True Leaf also expanded its presence in the European market. It inked partnerships with Pocurull and OSCAR Pet Foods.
True Leaf Brands also formalized an agreement with Namaste Technologies. The agreement aimed to leverage on Namaste’s online cannabis market platform. The company also participated in the SuperZoo 2019. It presented to the participants its CBD-infused canine supplements.
The company expects the canine supplements to be available in retail stores beginning on the 30th of September. True Leaf also has a new SVP for Operations. Allen Fujimoto from Petco now oversees the overall operation of the company. The CEO and Founder of True Leaf Brands, Darcy Bomford, issued a statement, saying:
“During Q1 2020, we completed a number of strategic initiatives, including transitioning to our re-branded True Leaf product line and filling two key executive roles in management and operations. These efforts supported our growing team and the launch of an expanded range of pet health products with a broader ‘plant-based’ focus.”
Thursday’s session saw the OTC stocks of True Leaf ending higher than expected. It now stands at 21 cents for a modest increase of 3.75%.