On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Strong Q2 2019 Financial, Operational Results

  • The company’s cash reserves reached $34.1 million by June 30, 2019, increasing from $22.4 million on December 31, 2018
  • PLUS (TM) is recognized as a leading cannabis brand in California, which is the most competitive market globally
  • The company is investing in several growth areas, including talent, market share, infrastructure and financial capacity

Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) recently released its unaudited financial and operational results for the quarter and half-year ended June 30, 2019. The company was able to achieve strong results despite the competitive landscape of the California cannabis market.

“Our high product standards, growing brand recognition, and the launch of our new line of mints drove strong demand for our products this quarter, cementing our position as a top selling cannabis brand in California,” Jake Heimark, co-founder and chief executive officer of the company, stated in a news release. “For the 5th consecutive quarter, PLUS ’Uplift’ was the best-selling cannabis product in California in dollars sold, according to data from BDS Analytics.”

Heimark also discussed the company’s goal of building a national brand, as PLUS plans to enter additional markets beyond California and Nevada (http://cnw.fm/6DIu1).

The company provided an update on the following financial operations in the second-quarter report:

  • A revenue increase to $3.6 million in Q2 2019, which represents 125 percent year-over-year growth over its Q2 2018 revenues of $1.6 million;
  • Gross margins improved to $0.7 million in Q2 2019 in comparison with the results of Q2 2018, which amounted to $0.2 million; this gain is attributed to efficiency at the company’s South California plant, which commenced operations in December 2017;
  • PLUS(TM) is investing in several growth areas, including talent, market share, infrastructure and financial capacity; bringing on key management leaders and investing in consulting fees and other operational and marketing initiatives combined to bring operating expenses to a total of $5.3 million in Q2 2019, up from $1.3 million in Q2 2018;
  • The company’s cash reserves reached $34.1 million by June 30, 2019, increasing from $22.4 million as on December 31, 2018; and
  • Shareholder equity raised to $26.2 million at June 30, 2019, an increase from $25.7 million at December 31, 2018.

Heimark went on to recognize several of the company’s strategic management acquisitions. “We also expanded our management team by appointing Jon Paul, a veteran senior corporate finance executive and certified public accountant, as chief financial officer, and Marc Seguin, former president and CMO of Popchips, as chief revenue officer, to lead our sales strategy,” he added. “Mr. Seguin is one of the first executives to leave the food industry for a non-hemp, cannabis touching company and we are proud to be attracting such high caliber talent to the company as we lay the framework for continued growth.”

Plus Products, based in San Mateo, California, is one of the leading cannabis brands in the state, manufacturing edible cannabis-infused products using extracts. PLUS products, which are dosable and compliant, are manufactured in a 12,000-square-foot cannabis facility in Adelanto, California. The company’s wholly owned subsidiary, Carberry, has four cannabis-infused gummy candy SKUs, along with a limited-edition SKU; the company’s products are sold in over 200 licensed dispensaries and delivery centers.

Two items from the company – PLUS Sour Watermelon Gummies and PLUS Blackberry & Lemon Gummies – are the top two best-selling products, respectively, across California in all categories, including flower, edibles, vaporizers and topical (http://cnw.fm/ElHN5).

“We are grateful to the California consumers who have made PLUS the leading cannabis product in California, the largest and most competitive cannabis market in the world,” concluded Heimark. “This has been a big year for Plus Products as we expand our portfolio and look to broaden our geographic reach, and we remain committed to offering our customers products they can trust that provide consistent experiences in delicious formats.”

For more information, visit the company’s website at www.PlusProducts.com

NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://cnw.fm/PLPRF

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.cannabisnewswire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
303.498.7722 Office


Select A Month

Official NewsWire Relationships

Alternative Products Expo Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition Cannexpo Marigold PR MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo Tether BudTender Tether BudTender Appreciation Week

CannabisNewsWire Currently Accepts



Bitcoin Cash

Bitcoin Cash

Doge Coin






USD Coin

USD Coin

Contact us: 303.498.7722