The Company made a significant change to its operations in
Operational and Financial Highlights
- Sale of digital assets to
Fire & Flower for$7.5 million - Financial Results: Net earnings of
$2.1 million for 2021, up from a$3.6 million loss in 2020 - Company Restructuring: Operating expenses of
$1.85 million in 2021, down from$3.7 million in 2020
The Company also announces executive and director changes following the resignation of
The Company has appointed
These changes along with additional operational efficiencies have been implemented to lower the Company’s monthly expenditures going forward while management evaluates potential investment opportunities and other strategic alternatives.
The Company issued 4,610,000 options at an exercise price of
About Cashbox Ventures Ltd.
The business activities of the Company include the search and evaluation of new investment opportunities along with consideration of other strategic alternatives.
Forward-Looking Information
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the Company’s strategies and goals. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s business, the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward looking information represents managements’ best judgment based on information currently available. No forward looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Contact Information
Invest Contact:connor@cashboxventures.io
Source: Cashbox Ventures Ltd.
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