C21 Investments (TSE:CXXI) has released an update.
C21 Investments Inc., a vertically integrated cannabis enterprise, has reported its fifth consecutive year of positive free cash flow, despite a slight 2% dip in revenue to $28.3 million and a decrease in gross margins to 39.4% for the fiscal year ended January 31, 2024. The audited financial results also include an adjusted EBITDA of $4.5 million and a free cash flow of $2.7 million, signaling the company’s resilience and operational efficiency. In light of a recent management cease trade order due to a filing delay, the company reassures shareholders of its commitment to complete the upcoming March 31, 2024 filings within the next two weeks.
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