~ Deliveries continue to increase month over month
VANCOUVER, December 07, 2020 – World-Class Extractions Inc. (CSE: PUMP) (FRA:WCF) (OTCQB:WCEXF) (“Company” or “World-Class”), is pleased to provide an update on Pineapple Express Delivery Inc. (“Pineapple Express Delivery”), a company in which World-Class has a controlling interest. Pineapple Express Delivery offers compliant and secure delivery of controlled substances and regulated products, including medical and recreational cannabis delivery in Ontario, Manitoba and Saskatchewan, and liquor delivery in certain jurisdictions in Saskatchewan.
Pineapple Express Delivery’s October 2020 revenues totaled $795,580 (September – $767,545) with gross margin of 30% (September – 32%) (unaudited). As a result of recent COVID-19 prevention measures, B2C revenue increased approximately 6% during October 2020, mainly in the recreational delivery segment. The number of deliveries continues to increase month over month with 62,327 deliveries rendered in October compared to 59,102 deliveries in September. Within the province of Ontario, Pineapple Express Delivery offers same day service in 37 cities (183 postal code regions) and 3-day service in 65 cities (288 postal code regions). Pineapple Express Delivery will soon be launching in three (3) new jurisdictions in Ontario and working to launch alcohol delivery to service the Greater Toronto Area (GTA).
“I continue to be excited about Pineapple Express Deliveries’ achievements and continued growth,” stated Randy Rolph, CEO & Founder of Pineapple Express Delivery. “With the continuing potential for increases in COVID-19 lockdown measures, coupled with winter conditions, we anticipate our revenues will increase over the coming months.”
“The COVID-19 outbreak has dramatically altered patterns of regulated product delivery in Canada. In the context of declining in-person retail visits, many consumers are turning to online sales and delivery of their cannabis and liquor products for the first time, spurred in part by regulatory changes that restrict in-person shopping experiences,” stated Rosy Mondin, CEO of World-Class. “Supporting Canadian cannabis licensees and their retail and medical clients is vital to our economy. This pandemic has forever changed online shopping behaviours, which will likely have lasting effects.”
About World-Class Extractions Inc.
World-Class is an innovation-driven company with a principle focus on the rapidly evolving cannabis and hemp industries. Through its subsidiaries Soma Labs Scientific Inc. and Greenmantle Products Inc., World-Class deploys and manages custom-built extraction centres utilizing its custom systems, technology, and processes to efficiently produce high-quality cannabis and hemp concentrates and end-products. In addition, through its subsidiary Pineapple Express Delivery Inc., the Company offers compliant and secure delivery of government regulated products, including medical and recreational cannabis in Ontario, Manitoba and Saskatchewan, and liquor delivery in certain jurisdictions in Saskatchewan.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
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, and the ability of Pineapple Express Delivery to expand its delivery services and to provide discrete shipment of products. 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.