Cannabis Producer Entourage Health: Preliminary Record Q2 Revenue Of $13.6M After Name Change From WeedMD

Cannabis producer Entourage Health Corp. ENTG WDDMF 4WE, which recently rebranded from WeedMD Inc., reported that its preliminary unaudited revenues amounted to $13.6 million in the second quarter.

Based in Toronto, the company said Tuesday that it’s another sequential quarter of record sales growth across both recreational and medical sales channels.

George Scorsis, interim CEO and executive chairman of Entourage Health, attributed the “sequential quarter growth and a meaningful increase in our Q2 revenue” to the combination of developments in its medical sales platform and the introduction of its expanded portfolio of products, as well as increased retail sales presence and distribution across Canada.

“Our continued transformation initiatives, cost improvements, and steadily growing consumer demand for our top-selling Color Cannabis and Saturday Cannabis dried flower, pre-rolls, vapes, live resin, and multi-pack products have positioned us well for further growth,” Scorsis continued. “With the expected addition of craft brand Royal City Cannabis to our portfolio, we’re looking forward to expanding our consumer offerings and bringing additional value to our shareholders.”

The company said it intends to file its second-quarter 2021 financial statements and management’s discussion and analysis pre-market on Tuesday, August 10.

Following its name change – which was approved at the special shareholders meeting held on June 30 – Entourage Health announced the debut of the new ticker symbol “ENTG” on the TSX Venture Exchange.

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