LOS ANGELES, CA March 28, 2022
Cannabis Global, Inc., an innovation-oriented company investing in disruptive cannabis technologies,
released an update letter from its CEO on recent and upcoming events
A considerable amount of attention has been focused on the Cannabis sector with two possible congressional actions to create a nationwide legal framework for both recreational and medical cannabis usage. With increased focus on the sector, I thought it would be an excellent time to provide our shareholders with an update on the very positive developments occurring at our company.
Revenue generation: As we have recently announced, our company is beginning to gain traction, which is clearly being seen in the growth of our revenues across multiple sectors. While we have not yet reported results for our most recently closed fiscal quarter, which ended on February 28, we expect the growth patterns we experienced late last year to continue. This revenue growth is being driven by new products entering the market, an increase in our distribution efforts, and the acquisition of numerous new retail dispensary customers throughout California. We expect these trends to not only continue, but to likely accelerate.
Successful revamping of product mix: As the cannabis consumption in the primary metropolitan areas of California has matured, cannabis customers are demanding a variety of new products. We have followed one of the major growth trends in the industry and revamped our product offerings accordingly. Our Live Rosin products, which are produced without any solvents, continue to gain strong traction with multiple orders coming into the company. As a result, we have significantly geared up our manufacturing capability in this area. We are expecting the solventless trend to accelerate as we move throughout 2022.
Product line acquisitions: We recently announced the acquisition of several product lines from a successful branding and marketing group, Caliwanna. These grants are now being marketed through Cannabis Global and we are working with Caliwanna‘s staff to immediately bring our current products to a much wider dispensary audience throughout California. This will include not only our solventless extract products, but also Live Rosin infused pre-rolls, and cannabis infused edibles.
Vertical integration: While we are more than pleased with our current revenue growth rate, our newly designed products, and our enhanced sales, marketing and distribution capabilities, it is our belief that in order to be truly competitive in the crowded California cannabis sector companies must have elements of vertical integration in order to maintain competitive cost models. Towards this end, we are working quickly to create vertical integration especially related to sourcing raw materials for our solventless products.
We are very optimistic about our future and the rest of this year. We believe we now have the correct mix of technologies, products, and markets to expand further on our already considerable successes over the past few quarters.
About Cannabis Global, Inc. Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio.
We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.
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