Pure Harvest Corporate Group Inc. Reports Q2 Results
Pure Harvest Corporate Group Inc. Reports Q2 Results, Announces New Partnership and Share Purchase Agreement Medical cannabis holding company Pure Harvest Corporate Group Inc. (OTCQB: PHCG) is a cutting-edge company providing hemp-derived health and wellness products to qualified recipients across the U.S. The Company currently ranks among several top cannabis companies including Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) and Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF).
Pure Harvest’s Q2 statistics for 2021 are as follows:
A growth from $3,951 to $762,778 in revenue
An increase from -$36,114 to $150,660 in gross profit
An increase in YTD revenue from $5,041 to $1,556,926
In 2020, the company primarily attributed its more than 1800% increase in gross revenues to sales from its retail dispensary based in Dumont, Colorado; now at its one-year operation mark, the facility has brought in $2.2M in total revenues and continues to expect growth in new markets.
Pure Harvest CEO Matthew Gregarek predicts continued growth this year, and in response to the Q2 report, said, “I firmly believe 2021 will be an extraordinary year for Pure Harvest as we incorporate our partnerships, contracts, and products while continuing to build through the acquisition of talented individuals and profitable companies.”
Other benchmarks for the company include its August announcement of an agreement with Doc.U.Care, Inc. to provide medical cannabis and other plant-derived wellness products to qualified recipients of self-insured corporate health and wellness plans within a network of Third-Party Administrators (TPAs). Pure Harvest cites the current network of recipients at 550,000 including member families, and foresees another 2.2M employees eligible for services nearing the 4th quarter of 2022.
Pure Harvest also entered a share purchase agreement with Kingpins International, Inc. which entails an equity investment totaling $30,000,000. Each half of that amount will be invested in the third and fourth quarters of the year.