GREENWOOD VILLAGE, CO, September 10, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Pure Harvest Corporate Group, Inc. (OTCQB: PHCG).
Our previous press release inadvertently contained inaccurate information, and we hereby correct and update such prior information.
Pure Harvest Colorado’s total revenue of $ 2.2 million was generated through retail and wholesale operations. In addition, the Company will provide herbal products to Doc.U.Care facilities and communities, and not to an insurance network as stated in previous press releases.
Pure Harvest Corporate Group, Inc. (OTCQB: PHCG), a vertically integrated consumer products portfolio company focused on advanced herbal nutraceuticals, recreational cannabis, health and wellness products derived from hemp and other emerging industries, is pleased to provide a update of the company as well as the operating and financial results for the second fiscal quarter of 2021.
Key financial highlights
- Q2 2021 revenue has grown dramatically over Q2 2020 from $ 3,951 to $ 762,778
- Q2 2021 gross margin also increased from Q2 2020, going from – $ 36,114 to $ 150,660
- Cumulative second quarter 2021 revenue is $ 1,556,926, compared to cumulative second quarter 2020 revenue of $ 5,041.
Highlights and operational events:
- Pure Colorado Harvest recently celebrated a full year of licensed marijuana operation at its Dumont, Colorado facility. This retail dispensary and its solar-powered wholesale operations generated total revenue of $ 2.2 million and completed 17,327 transactions in their first full year of operation.
- Alexis johnson joined the Pure Harvest Advisory Board to help develop and build relationships with local governments, charities, and social organizations. The company, with help from Ms. Johnson, began to develop its corporate and social responsibility program with the goal of implementing a social equity-focused mission for Pure Harvest operations.
- Pure Harvest has entered into an agreement with Doc.U.Care Inc., a global healthcare development company that consists of healthcare, business planning and land development specialists, healthcare professionals, organizations and auxiliary health workers who provide medical care for those in need. The Company creates a herbal pharmaceutical brand with a range of scientific products for its facilities and communities.
- Hemparita, a product made with the proprietary ingredient of Pure Harvest Cannabinoid Complex 612, won the 2021 Denver Westword Reader’s Choice Award for Best New CBD Product. This innovative product line is the first national product to incorporate Complex 612, and this award represents overwhelming enthusiasm from the general public. Hemparita products are available online at www.ihemparita.com and at select dispensaries in Colorado.
- Launch of Pure Harvest Zosi, the second brand to incorporate Cannabinoid Complex 612. This premium product line is designed to complement an individual’s natural rhythms and generate a sense of health and well-being. The Zosi product line has been formulated by a physician and incorporates high quality ingredients like ashwagandha, reishi and cordyceps mushrooms, turmeric and rhodiola root powder. Pure Harvest will continue to develop the wholesale and distribution channels for Zosi while continuing to develop the direct-to-consumer model. These products are available for purchase at www.myzosi.com.
- Pure Harvest has entered into a share purchase agreement with Kingpins International, Inc. Kingpins goal is to leverage sports, entertainment and real estate development as a tool for social and economic inclusion, development and sustainability for the cannabis industry. The equity investment totals $ 30,000,000, with $ 15 million funded in the third quarter of 2021 and the remaining $ 15 million funded by the end of the fourth quarter 2021.
“The consolidation of the company’s hemp and marijuana assets under the Pure Harvest umbrella was just the first step in the process of consolidating the business,” said Peyton Bowman, COO of Pure Harvest . “With these pieces in place, we have a solid foundation on which to grow. We can now begin to build on that foundation and begin to expand these operations and increase our respective revenue streams. “
“As evidenced by the 2nd quarter results, we continued to see strong performance from our cannabis operations in Colorado and encouraging progress from our Complex 612 product line,” said Matthew Gregarek, CEO of Pure Harvest Corporate Group, Inc. “We have continued to build on our successes of 2020 and, as we approach the end of this year, I firmly believe that 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 businesses. “
About the Pure Harvest Group of Companies
Pure Harvest Corporate Group, Inc. (OTCQB: PHCG) is a holding company focused on emerging and high growth industries. The PHCG team is committed to formulating, manufacturing and distributing high quality cannabinoid consumer products derived from cannabis and hemp in markets where it is legal. The Company has developed numerous retail brands and product lines which are currently available for purchase in certain markets. Pure Harvest intends to grow its marijuana, hemp-derived cannabinoids, and research and development operations and expand globally as cannabis laws are revised and rewritten to repeal their ban.
In addition, the Company may from time to time disclose material public events through its website at:
http://www.PureHarvestGroup.com Or its social media accounts at the following locations:
Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 of the Securities Act of 1933, are subject to Rule 3b-6 of the Securities Exchange Act of 1934, and are subject to the safe harbor rules created by those rules. . All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding the future plans and potential objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that these statements will prove to be correct. Future events and results could differ materially from those stated, contemplated or underlying forward-looking statements.
Company details :
Pure Harvest Corporate Group, Inc.
Sherry Andersen, Corporate Communications