– Increased 2022 Financial Projections Reflect Theraplant’s Upside Potential from Projected 2022 Commencement of Recreational Marijuana Sales in Connecticut –
– Company Also Provides Update on Theraplant Transaction –
Greenrose Acquisition Corp. (OTC: GNRSU, GNRS, GNRSW) (“Greenrose” or the “Company”), a special purpose acquisition company targeting companies in the cannabis industry, announced that it has increased its full year 2022 financial projections for revenue and adjusted EBITDA, as stated in the revised investor presentation filed with the SEC on July 28 th 2021.
Greenrose’s expanded financial projections reflect Theraplant’s additional upside potential from Connecticut’s earlier-than-anticipated approval of recreational marijuana sales, which are anticipated to begin in mid-2022. The Company’s current full year 2022 financial projections, compared to the previous projections provided in the presentation filed by Greenrose on June 16 th , 2021, are summarized below:
| Previous | Current 1 | |
| Revenue | $230 million | $260 to $295 million |
“Our increased full year 2022 financial projections reflect the strength of our platform, combined with the benefits of regulatory tailwinds within the initial states we plan to operate in,” said Mickey Harley, CEO of Greenrose. “The approval of recreational marijuana sales in Connecticut meaningfully expands Theraplant’s addressable market and came on an earlier timeline than we originally anticipated....
Read Full Story: https://investingnews.com/daily/cannabis-investing/greenrose-acquisition-corp.increases-full-year-2022-financial-outlook/
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