VANCOUVER, BC, Oct. 12, 2021 /CNW/ - Kiaro Holdings
Corp. (TSXV: KO) ("Kiaro" or the "Company"), a national
omni-channel cannabis retailer and wholesale
distributor, has released its second quarter analyst
report for the 2022 fiscal year as prepared by Fundamental Research
Corp ("FRC"), which is an independent, small-cap, specialty
research firm located in Vancouver,
B.C. The report covers the quarterly period ended
July 31st, 2021.
Click here to view the full report
"I am extremely proud of our second fiscal quarter in which we
generated $6.19 million in revenue,
up 55% from the same period of the prior year. We are pleased with
FRC's coverage of Kiaro and welcome the continuation of their
positive outlook. After completing the important milestone of
closing the Hemisphere Cannabis acquisition, we similarly continue
to believe that the future for Kiaro is very bright," stated
Daniel Petrov, Chief Executive
Officer of Kiaro.
The opinions expressed in this report are the true opinions of
the analyst about the Company and industry. Any "forward looking
statements" are FRC's best estimates and opinions based upon
information that is publicly available and that FRC believes to be
correct, but it has not independently verified with respect to
truth or correctness. There is no guarantee that FRC's forecasts
will materialize. Actual results will likely vary. The analyst and
FRC does not own any shares of the Company, does not make a market
or offer shares for sale of the Company, and does not have any
investment banking business with the Company. Fees were paid by
Kiaro to FRC.
About Fundamental Research Corp.
Fundamental Research Corp is one of the largest independent
research houses in the world, with a 17-year track record of
covering 550+ companies. As of March 12,
2021, FRC's top picks were up 76.4% on average since
initiation of coverage. The Company is a premier research firm that
has ranked in the Top Ten in independent third-party evaluations of
its research. For more information on Fundamental Research Corp,
visit https://www.researchfrc.com/
About Kiaro Holdings Corp.
Based in Vancouver, British
Columbia, Kiaro is an independent, omni-channel cannabis
retailer and distributor. Through existing storefronts across
British Columbia, Saskatchewan, Ontario and assuming completion of the recent
acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro will
have 18 stores in operation by the end of the fiscal year. This is
in addition to a wholesale distribution division servicing
Saskatchewan, ecommerce sites in
Canada, the US and Australia, as well as plans for continued
national expansion. Kiaro is driven to introduce new and
experienced consumers to a lifelong exploration of cannabis. With
more than 70 years of collective retail and wholesale focused
experience, Kiaro's leadership team has a proven track record of
growing brands across North
America and plans to open multiple retail locations
nationwide over the coming years.
Forward-Looking Information
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Kiaro, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: completion of the Transaction and
regulatory and other applicable approvals, proposed retail
expansion plans and management's ability to execute on same,
overall growth of the Canadian cannabis market and retail
opportunities, the integration and financial projections of
combined retail portfolio, the award of new operating permits and
licenses in various jurisdictions, and the timing and amount of any
dispositions of the Company's common shares. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of
whether, or the times at or by which, such future performance will
be achieved. No assurance can be given that any events anticipated
by the forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond Kiaro's control. These risks, uncertainties and
assumptions include, but are not limited to, those described in the
Kiaro Filing Statement dated September 29,
2020, a copy of which is available on SEDAR at
www.sedar.com, and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
Furthermore, any forward looking information with respect to future
expansion plans is subject to the qualification that management of
Kiaro may decide, and the assumptions that any construction or
conversion would not be cost prohibitive, required permits will be
obtained and the labour, materials and equipment necessary to
complete such construction or conversion will be available.
Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this news
release. Kiaro does not intend, nor undertake any obligation, to
update or revise any forward-looking information contained in this
news release to reflect subsequent information, events or
circumstances or otherwise, except if required by applicable
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
For more information, visit: investors.kiaro.com
To read the previous analyst report published September 3rd, 2021, click here.
SOURCE Kiaro Holdings Corp.
