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Home 🌿 Marijuana Business News 🌿 Mettrum Announces First Quarter Fiscal 2016 Financial Results 🌿

Mettrum Announces First Quarter Fiscal 2016 Financial Results

Submitted by Marijuana News on Wed, 08/12/2015 - 19:00

Q1 2016 Financial Highlights: - Revenues increase 47% to $1,249,171 - Gross Margin increases 34% to $686,124 - Grams sold total 160,560 grams

TORONTO, ONTARIO--(Marketwired - Aug 12, 2015) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT)(TSX VENTURE:MT.WT), a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, announced today its first quarter fiscal 2016 financial results for the period ended June 30, 2015.

For the first quarter ended June 30, 2015, Mettrum revenues increased 47 percent to $1,249,171 primarily on 160,560 grams of medical cannabis sold, versus $847,690 on 115,065 grams of medical cannabis sold the previous quarter. Average selling price per gram increased to $7.49 from $7.32 in the prior quarter. Gross margin totaled $686,124 and $513,353 for the quarter ended June 30, 2015 and March 31, 2015, respectively. This equates to $4.20 per gram for the quarter ended June 30, 2015...

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URL: 
http://finance.yahoo.com/news/mettrum-announces-first-quarter-fiscal-210000015.html

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