Quantum 1 Cannabis (CSE:QQ) announced its revenue for the third quarter of 2021 has increased by 672 percent and gross profit has increased by 463 percent compared with the same quarter in 2020. Quantum 1 Cannabis CEO Russ Rossi expounded on this exponential growth and what’s behind this remarkable leap.
“We had an opportunity during our cannabis training to opt into some leases for cannabis retail. So we thought, let’s take a shot at this and see if we can use our experience with mobile location and supercharge. It paid off. It was a new game for everybody. It’s a lot of luck when opportunity meets preparation,” said Rossi.
Quantum 1 Cannabis attributed the growth to high month-over-month sales coming from its flagship store in North Vancouver, improved demand for specialized “cottage-grown” sativa and indica products, continued training and hiring of best-of-breed staff and management to cater to consumer inquiries and expanded in-house technology for management of human resources, inventory and regulatory requirements.
“Our plan is to have the maximum number of retail stores possible in British Columbia. We have 10 year leases on these stores, putting everything in on a solid pitch for the city council. I’m pretty confident that we’re going to have eight centers full blast in BC within six months,” explained Rossi.
Quantum 1 Cannabis has signed a memorandum of understanding to acquire an approved municipal cannabis retail location in one of Vancouver’s most diverse neighborhoods at 41st Avenue and Cambie Street in Vancouver, British Columbia. The flagship location is expected to expand the company’s footprint in the Lower Mainland.
Watch the full interview with Quantum 1 Cannabis (CSE:QQ) CEO Russ Rossi above.
This interview is sponsored by Quantum 1 Cannabis (CSE:QQ). This interview provides information which was sourced by the Investing News Network (INN) and approved by Quantum 1 Cannabis in order to help investors learn more about the company. Quantum 1 Cannabis is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Quantum 1 Cannabis and seek advice from a qualified investment advisor.
The post Quantum 1 Cannabis CEO Russ Rossi: Exponential Growth in the Cannabis Retail Marketplace appeared first on Investing News Network.