Grown Rogue International Inc. (OTC:GRUSF) felt extra excitement, launching into the long weekend in the States, with the release of strong second-quarter numbers.
The cannabis company, based in Medford, Oregon, and with licenses and operations in Oregon, California, and now entering Michigan, told investors that second-quarter 2019 revenues increased more than six-fold year-over-year, from $0.3 million to $1.9 million. Quarter-over-quarter revenues increased 125%, from $0.8 million in Q1. Adjusted EBITDA amounted to a loss of $1 million for the second quarter.
Said CEO Obie Strickler, "Our second quarter revenue results are indicative of the brand strength and distribution reach we have achieved in Oregon and we are taking the same platform to California and Michigan."
Shares in GRUSF advanced 1.28 cents, or 8.5%, in the hours leading up to Wednesday’s 1 p.m. ET close in the United States (on the eve of the 4th of July), on a sparse 38,000 shares.
