VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 4, 2017) - Quadron Capital Corporation (the "Company" or "Quadron") (CSE:QCC)(CSE:QCC.CN) is pleased to report the financial and operating results for its third quarter ended January 31, 2017.
Third quarter and nine month financial highlights (unaudited):
- Revenue for the quarter of $986,430, a 130% increase over Q2 2017 revenue of $429,180. Revenue for the nine months of $1,639,060 ($7,300 nine months ended January 31, 2016);
- Loss and comprehensive loss from operations of $305,569 for the quarter, which includes a one-time loss of $203,000 on client specific inventory. Loss and comprehensive loss of $176,887 for the nine months ($94,457 nine months ended January 31, 2016); and
- Cash of $467,477 as of January 31, 2017.
Subsequent Quarter Highlights:
- Completed a non-brokered private placement for gross proceeds of $1,712,100 and subsequently commenced trading on the Canadian Securities Exchange under the symbol "QCC";
- Acquired Cybernetic Control Systems Inc., which provides Quadron with automation and process manufacturing expertise for the design and manufacturing of the Company's line of cannabis extraction and processing equipment; and
- Completed the design and prototype of a proprietary automated Odor Elimination System designed specifically for the industrial cannabis industry.
Rosy Mondin, President and CEO of Quadron reported, "The Company remains on track and well-funded to execute on our business model, increase our revenue, grow our margins and position Quadron as leaders in the botanical extraction business."
Quadron's full third quarter financial results are posted on SEDAR at www.sedar.com.
About Quadron: Quadron, through its subsidiaries, provides a variety of products and services structured to address the complex needs and requirements of cannabis industry participants in Canada and the US. Quadron's principal focus is on the design and production of automated cannabis extraction and processing equipment, which it leases and/or sells to industry participants. In addition, the Company distributes ancillary products, such as customized dispensing devices (i.e. vaporizer pens) and branded consumption type products (i.e. capsules) along with a variety of packaging options to authorized cannabis industry participants (via Greenmantle). Quadron's subsidiary Cybernetic specializes in providing equipment automation services, control solutions and process manufacturing expertise to a variety of industry sectors.
For more information, visit: www.quadroncapital.ca
On behalf of the Board of Directors of QUADRON CAPITAL CORPORATION
Rosy Mondin, Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.