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True Leaf reports record quarter

True Leaf Medicine has announced its best quarter ever for the three-months ending June 30, 2018.

The company’s cannabis cultivation campus is set to open this fall, they’ve got a booth at the Interior Provincial Exhibition and True Leaf Medicine International is celebrating a record quarter.

The “plant-forward wellness brand for people and their pets” announced its best quarter ever for the three-months ending June 30, 2018.

Paul Sullivan, director of public relations, reports the record-setting revenues were generated from sales of the company’s hemp-based True Leaf Pet products.

Sales of the products totalled $491,334 in the quarter, an increase of 70 per cent over the $289,494 recorded for the same period last year.

This figure also represents an increase of 28 per cent over revenue of $383,844 for the three months ended March 31, 2018.

“Revenue growth has been fuelled by the company’s investment in its international sales team,” reads True Leaf’s press release.

“The expanded team of pet industry sales experts in Canada, the United States and Europe has significantly increased the reach of the company’s True Leaf Pet division to new locations in-store and online.”

True Hemp dog chews, dental sticks and supplement oils are now sold in more than 2,000 stores across North America and Europe through retailers such as PetSmart Canada, Pet Supplies Plus US, Pets Corner UK, and Amazon.

The Company’s True Hemp line is one of the first cannabis-focused pet product lines to be marketed worldwide.

“This record quarter for True Leaf is further evidence that there is a growing interest and demand for medicinal cannabis products for pets,” said Darcy Bomford, founder and chief executive officer of True Leaf.

“By entering the market with a fully-legal hemp-based product line, we have been able to get our products in more than 2,000 stores worldwide. Our strategy, unique among Canadian cannabis companies, is paying off by establishing True Leaf as a world leader in hemp-based products for pets.”

Through its other division, True Leaf Medicine, the Company is building True Leaf Campus, a cannabis cultivation and production facility in Lumby, British Columbia, that will provide medicinal cannabis under Health Canada’s Access to Cannabis for Medical Purposes Regulations program.

Construction of True Leaf Campus is expected to be complete in fall 2018.

Related: True Leaf Campus completion set for fall

Related: Pioneer ‘cannabis for pets’ veterinarian joins True Leaf

Related: True Leaf Announces Cannabis Cultivation Team

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