BellRock Brands Confirms Previous 2020 Financial Guidance of Merged Companies; Issues 2021 Guidance
01/13/2021 | 06:06am EDT
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BellRock Expects to Continue Delivering Significant Revenue and Cash Flow Growth in 2021 with a Focus on Scaling Operations and Expanding its Brand Platform
DENVER, Jan. 13, 2021 /PRNewswire/ - BellRock Brands Inc. ( BellRock or the Company ) (CSE: BRCK.U), an industry-leading cannabis consumer packaged goods ( CPG ) multi-state operator ( MSO ), is reporting that it has exceeded its previously announced guidance of $40 million pro forma revenue for 2020 and is issuing revenue and adjusted EBITDA guidance for 2021. The 2020 guidance was based on pro forma revenue results as if BellRock Brands had been formed on January 1, 2020 via the business combination of BR Brands and Dixie Brands (the Merger ).
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the fulfilment of environmental assessment commitments and arrangements with local communities.
Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward-looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period.
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