Lumiera reports second quarter 2022 results with a 28% increase compared to previous year
MONTREAL, June 1, 2022 /CNW/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is pleased to provide an update to announce that the corporate strategy and plans that were put place in 2021, are continuing to prove successful with Lumiera's fiscal Q2'22 being another strong quarter with sales +28% vs Q2 2021.
The increase in the Company's sales has been driven by increased retail and online distribution which has led to trial and repeat purchases of Awaye™ natural pain relief cream and Bazzzics™, a natural non-addictive sleep aid.
"We continue to receive outstanding feedback from Awaye™ and Bazzzics™ users. This positive feedback and the continued growth validates our strategies and plans. We have been expanding availability and distribution across Canada. We are very pleased with the performance of our Team and Partners in British Columbia and we look forward to replicating that success in Ontario and the Northeast US." says Simon Castonguay, Interim CFO of Lumiera "We will continue to invest in distribution expansion, trial and allocate more cash to inventory to enable us to capitalize on additional growth opportunities.".
Q2 financial statements will be released on or before July 29, 2022.
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2021, which is available under the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Related Links: www.lumiera.ca
SOURCE Lumiera Health Inc.
Lumiera Health Inc., Simon Castonguay, Interim Chief Financial Officer, 514-880-7772, [email protected]
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