Mettrum Health Corp is on the Verge of Rebound
Mettrum Health Corp. recently announced strong results for the first quarter of fiscal 2017. The company’s revenues enlarged 54% to $4,170,514, while grams surged increased 43% to 436,570 grams. Its gross profit also increased by 67% to $3,320,828 and Adjusted EDITDA loss declined 58% to a loss of $346,280.
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the MMPR, which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario.
The company’s shares are trading around $2.30 a share after a huge surge in the last couple of weeks amid strong financial performance. Its stock price has 52-weeks trading range of $1.05 – $2.47 with an average volume of 26185 shares. Its market capitalization is standing around 90.99 million and its outstanding shares are standing around 40.25m.
Following strong results, its CEO said, “We are off to a very strong start in the year with all of our key operational and financial metrics continuing to move in the right direction,” noted Michael Haines, CEO of Mettrum. “The combination of the momentum in our business driven by a rapidly growing client base, superior products and financial strength has Mettrum extremely well positioned for a great year ahead as we maintain our focus on growth, profitability and ultimately, delivering shareholder value.”
The company is also in a sound cash position to keep investing in growth opportunities. Its balance sheet remains strong with $12.1 million net cash.