MEDFORD, Ore.–(BUSINESS WIRE<\/a>)–Grown Rogue International Inc.<\/b> (\u201cGrown Rogue\u201d or the \u201cCompany\u201d) (CSE: GRIN) (OTC: GRUSF), a multi-state cannabis company with operations and assets in Oregon and Michigan reports a record quarterly cash margin2<\/sup> of 73%, helping to drive the 5th<\/sup> consecutive quarter of positive adjusted pro-forma EBITDA1,3<\/sup> of $0.2M for the three months ended January 31, 2021. The Company also had it largest pro-forma revenue3 <\/sup>in Company history in Q1 2020, despite the first quarter being the most challenging due to industry seasonality.\n<\/p>\n \nAll amounts are expressed in United States Dollars unless otherwise indicated. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures.\n<\/p>\n Financial and Business Highlights<\/b><\/p>\n \n\u201cGrown Rogue continues to build upon its success with a record quarter for both cash margin and pro-forma revenue, including our 5th<\/sup> consecutive quarter of positive adjusted pro-forma EBITDA to begin 2021,\u201d said Obie Strickler, CEO of Grown Rogue. “Our focused goal remains to efficiently and consistently produce high-quality and low-cost flower, maintain excellent customer relationships and meet the demand of our consumers. With our recent acquisitions and financings, we are well poised for a year of growth and profitability in 2021.\u201d\n<\/p>\n Management Commentary<\/b><\/p>\n \nBeginning its third year as a publicly traded company, Grown Rogue continued to leverage its simplified business model, resulting in its 5th<\/sup> consecutive quarter of positive Adjusted Pro-Forma EBITDA1,3<\/sup>, improvements and opportunities to scale up production through expansion of existing facilities and acquisitions of new assets. These improvements have led to a record quarter of pro-forma Revenue 3<\/sup> of $2.0M even during the slowest quarter of our fiscal year. Consistent cash margins2<\/sup> of near 70%, coupled with the ability to retrofit and implement proven cultivation methods, bodes well for Grown Rogue\u2019s continued strategy and growth.\n<\/p>\n Highlights by State<\/span><\/b><\/p>\n Oregon Operations <\/b><\/p>\n Michigan Operations (of our partner Golden Harvests, LLC in which a subsidiary of the Company holds an indirect option to acquire 60% equity interest in Golden Harvests, LLC, pending Municipal and State regulatory approval)<\/b><\/p>\n Selected Financial Information <\/b>(Complete financial tables have been filed on www.sedar.com<\/a>)\n<\/p>\n\n
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