Delta 9 Cannabis Takes 7th Position in The Globe and Mail’s Ranking of Fastest Growing Canadian Companies
The Globe and Mail has released its report for Canada’s top growing Canadian companies. The report released is for 2021 in which Delta 9 Cannabis Inc. (TSX: DN) (OTCQX: DLTNF) has been placed at the 7th position. The news was announced today by Delta 9. All the companies are ranked in the list based on their revenue growth for the past three years.
About Delta 9 Cannabis
Delta 9 is a Canada-based cannabis producer. The company follows the business model of being vertically integrated. All the functions of the company are handled solely by the management of Delta 9.
The company believes in delivering high-quality cannabis products to the members of its community and potential customers.
All the production functions for the cannabis products of Delta 9 are operated under its wholly-owned subsidiary called Delta 9 Bio-Tech. The wholly-owned subsidiary has a license to produce cannabis products for medical and recreational purposes. The production facility of Delta 9 Bio-Tech, located in Winnipeg, Manitoba, Canada, is spread across the dimension of 80,000 square feet.
A retail store is also under the umbrella of the company known as Delta 9 Cannabis Store.
About The Globe And Mail
The Globe and Mail is a leading Canadian company that works in the industry of news media. It came to operations in 1844. Since then, The Globe and Mail has been a major part of all the discussions and policies concerning national issues.
The news company operates in two forms namely print and digital. The Globe and Mail, as a newspaper, registers 6.4 million readers every week. This is a combined figure for print and digital forms.
Its magazine, called Report on Business, has a base of 2 million readers for every issue that is published.
The Globe and Mail is owned by Woodbridge which has a major investment from the Thomson Family.
Delta 9 announced today that it has been placed at the 7th spot in the list of Canada’s Top Growing Canadian Companies. The list is prepared and published by The Globe and Mail. The cannabis company featured on the 7th spot in the 2021 report of the list. The company was extremely pleased while announcing this news.
The Globe and Mail ranks all the companies in the list by comparing their revenue growth over the past three years. Delta 9 reported growth of 5,413% over three years. The news company recorded the revenue of Delta 9 for 2017 as $944,114. The revenue increased to $52,047,053 in 2020.
This marked growth of 5,413% for the period that started in 2017 and ended in 2020.
John Arbuthnot, the Chief Executive Officer of Delta 9, said the company was delighted to feature at the 7th place in Canada’s Top Growing Canadian Companies. He added that this was a direct result of all the hard work that they had put in three years.
He assured that the momentum continues in the company as it is still growing at a remarkable rate. The revenue growth rate registered by the company in the second quarter of 2021 was 27%. This reflects the revenue growth rate after adjusting Earnings Before Interest, Taxes, Depreciation, and Amortization, also known as EBIDTA.
The year-over-year growth of the company, which is the first to be licensed by Health Canada in 2013, stood at 64% in 2020.
The company said in an official statement that it would continue to focus on its core growth strategies which are as follows:
- Manufacturing and distribution of the cannabis products under the brand name of Delta 9.
- Focus on cannabis sales in the category of Business to Consumer.
- Sale and consulting of cannabis equipment in the category of Business to Business.
Phillip Crawley, the Publisher and Chief Executive Officer of The Globe and Mail, highlighted in a statement that the list consisting of 448 businesses serves as an inspiration for making Canada a better place.