Blackhawk Growth Establishes Annual Revenue Record Of $3,934,000
Vancouver, British Columbia - TheNewswire – July 21, 2021 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) US (OTC:BLRZF) (the “Company”), is pleased to announce unaudited gross revenue, from its wholly owned portfolio companies, for the fiscal year ended June 30, 2021 of approximately CDN$3,934,000. The key portfolio companies driving this record revenue were Sac Pharma Partners USA, Inc. (“Sac Pharma”) and Noble Line Inc. (“Noble”) Blackhawk continues to focus its portfolio companies on the execution of their business plans.
Sac Pharma continues to show significant results with unaudited gross revenue for the twelve months ended June 30, 2021 of CDN$2,180,000. The quarterly revenue has again been greater than CDN $600,000, which is near capacity in the existing facility. Gross margin of CDN$1,787,000was approximately 83% for the year.
For the twelve months ended June 30, 2021, Noble reported unaudited gross revenue of CDN$1,688,938. The annual revenue has increased by over 670% from the previous fiscal year. Gross margin of CDN$1,290,000 for the twelve month period continues to be very strong at approximately 76%.
During the fiscal year ended June 30 2021, the other Blackhawk portfolio companies, Spaced Food, Nu Wave and LeichtMind moved closer to generating their commercial revenue and it is expected that all companies will generate revenue early in the 2022 fiscal year.
In addition, the Company continues to work on the previously announced potential acquisition of Terp Wholesale LLC and will add another revenue generating company to the portfolio.
“We are extremely pleased with the performance of our portfolio companies.” says Frederick Pels, CEO of Blackhawk Growth Corp. “Our management teams have done a remarkable job of growing these businesses and the outlook for each one of them has never looked stronger. We will continue to advance these initiatives ensuring our portfolio continues to demonstrate a strong positive growth quarter over quarter.”
The Company cautions that figures for revenue and margin generated by the Company have not been audited and are based on calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited.
About Blackhawk Growth
Blackhawk Growth is an investment issuer looking to create substantial value for our shareholders through the acquisition and development of high growth opportunities. The company has focused its investments in the health, cannabis and CBD industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food and NuWave Foods.
The company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
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Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the future prospects of the business of the Company and its portfolio companies. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.