- Cannabis company, Weekend Unlimited (CSE:POT) is experiencing significant growth in sales numbers, despite economic uncertainty caused by COVID-19
- The company’s March sales in Oklahoma have doubled what they were in January
- Weekend is looking forward to more growth opportunities, such as the launch of its Orchard Heights brand in Oklahoma
- The company has also appointed Robert Payment to the position of Chief Financial Officer
- Weekend Unlimited (POT) is up 15 per cent, and is currently trading at $0.12 per share
Cannabis company Weekend Unlimited (CSE:POT) is experiencing an unexpected surge in sales, despite economic uncertainty caused by COVID-19.
March sales numbers for the company’s branded product line in Oklahoma have doubled what they were in January. The company’s products are now in no less than 74 dispensaries, which adds to that total daily.
Weekend, and many other cannabis companies, have notice a marked increase in sales since the COVID-19 pandemic started gaining traction.
The company’s President and CEO, Chris Backus, did not directly address the pandemic’s possible influence on purchase increases. He did admit though, that the cannabis and CBD sector is demonstrating signs of growth in this environment.
“Demand for our branded products is increasing, and our team is operating at full throttle to meet that demand and establish the brand amongst more consumers,” he said.
Weekend is currently in a strong financial position, and looking to further increase revenue and optimise operations in the US. The company also hopes to decrease its monthly expenses by over 35 per cent.
“We are prioritising our growth in US markets, deploying capital, and building an operational team featuring great salespeople, under trying global times.
We are in a strong cash position, and able to take advantage of the opportunities for growth,” Chris said.
One such opportunity for growth is Weekend’s upcoming launch of the Orchard Heights brand in Oklahoma.
In other news, Weekend has announced the appointment of the aptly named Robert Payment to the position of Chief Financial Officer. Robert is replacing Michael Hopkinson in the role.
“We are thrilled to have Robert on board. He will play an integral role on our leadership team going forward. I want to thank Michael for all his efforts, and wish him the best in his future endeavours,” Chris said.
Weekend’s share price is up 15 per cent, and trading at $0.12 per share, as of 11:25am EST.