VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 2017) -
This document corrects and replaces the press release that was sent today at 8:00 am ET. The embedded URL was changed.
Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to provide to an update on its ongoing business operations and the development of its industry leading technology platform for mass communications and collaboration.
Highlights of the Company's recent developments include:
- Generated approximately $100,000 in revenue for the twelve months ended December 31, 2016, an increase of several hundred percent when compared to revenues during the same period in 2015.
- Acquired a new software platform to integrate with and provide additional functionality to the Company's existing compliance and collaboration platform.
- Current growth rates suggest that the Company could achieve positive monthly cash flow by the end of 2017.
- Raised a total of $650,000 through equity financing.
In addition, the last few months has seen the external environment shifting dramatically. Eight states representing 22% of the United States population voted to regulate the production and sale of cannabis, potentially opening up new markets for LEAFHub of an estimated 10 million regular cannabis consumers now residing in states with medical or recreational cannabis laws.
"We are very pleased with the recent achievements and growth trajectory that Calyx is currently experiencing," stated Roger Forde, President and Chief Executive Officer of Calyx. "We are in the midst of an exciting stage in this rapidly expanding industry, with new regulations and studies making cannabis more widely accepted than ever before. Calyx is confident that it is ideally positioned to leverage the numerous opportunities within the expanding legal cannabis market. We are committed to executing on our strategy, adding users and features to our best-in-class technology platform to drive adoption and take a leading position in the sector."
For additional information, readers are encouraged to review the Company's letter to its shareholders, published concurrently with this news release, and available through the following link:
In addition to Calyx's portfolio of proprietary intellectual property with applications in crop enhancement, its wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., is a software development company that has created a software platform tailored to advanced indoor agriculture. The Cannigistics software platform is designed to enhance the efficiency and effectiveness of indoor agricultural operations, and positions Cannigistics to be the industry leader in agri-software solutions by providing businesses with advanced controls over all aspects of their operations. Recent upgrades have also generated interest in the software platform from outside the agriculture industry which could potentially provide additional areas of growth for the Company.
For further information about Calyx, please visit www.calyxbio.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.