Latest news with #ShaneMadden
Yahoo
30-05-2025
- Business
- Yahoo
Hydreight Reports 34% Year-Over-Year Q1 Revenue Growth, Improvement in Bottom Line Results, and Delivers Strong Performance Across Verticals
'It was an outstanding quarter. We exceeded our Q1 projections with approximately 34% YOY growth from our first two verticals, a clear sign that our strategy is working. We also secured new customers for VSDHOne, positioning us strongly to hit our year-end goals with the number of orders. Our continued investments in the first half of 2025 reflect our commitment to scaling efficiently and driving sustainable margin improvements.' – Shane Madden, CEO of Hydreight VANCOUVER, British Columbia and LAS VEGAS, May 30, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. ('Hydreight' or the 'Company') ( TSXV: NURS )( OTCQB: HYDTF )( FSE: SO6 ), a fast-growing mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the first quarter ended March 31, 2025. All financial information is presented in Canadian dollars unless otherwise indicated. Q1 2025 Highlights Topline¹ Revenue of $6.53 million, a 34% year-over-year increase GAAP Revenue of $4.54 million, up from $3.38 million in Q1 2024 Gross Margin of $1.50 million, up from $1.23 million in Q1 2024 Adjusted EBITDA¹ of $163K, marking continued operational improvement GAAP Net Income of 21K, from GAAP Net Loss of $309K in Q1, 2024 Cash on Hand of $6.04 million at quarter-end $5.4M gross ($4.8M net) strategic financing completed in February to fuel growth initiatives Approximately 65% growth in new Nurse signup compared to Q1, 2024 Approximately 48% growth in Number of pharmacy orders compared to Q1, 2024 Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform Shane Madden, CEO of Hydreight commented, 'It was an outstanding quarter. We exceeded our Q1 projections with approximately 34% YOY growth from our first two verticals, a clear sign that our strategy is working. We also secured new customers for VSDHOne, positioning us well to achieve our year-end goals. These accounts are currently onboarding and migrating their new and existing orders to the VSDHOne platform. We're continuing to increase our investments in the first half of 2025 to support this growth and drive sustainable margin improvements.' Highlights and Subsequent Events On May 27, 2025, Hydreight Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform On May 5, 2025, Hydreight Technologies Appoints Dr. Roebuck As a Director of the Company On May 1, 2025, Hydreight Achieves Record Revenue and Profitability Milestone in Q4 2024 Audited Results On April 17, 2025, Hydreight Technologies to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1×1 Meetings on Thursday, April 24, 2025 On April 15, 2025, Hydreight Technologies Expands GLP-1 Telehealth Suite with Launch of Liraglutide on VSDHOne Platform On April 8, 2025, Hydreight Technologies Partners with Renowned Endocrinologist Dr. Franklin Joseph to Bring Globally Successful Weight Loss Brand to the U.S. via VSDHOne Platform On April 2, 2025, Hydreight Technologies Named One of the Americas' Fastest Growing Companies by Financial Times On February 27, 2025, Hydreight Technologies Expands Telehealth Services with New Oral Weight Loss Therapies on VSDHOne Platform On February 26, 2025, Hydreight Technologies Inc. Announces Closing of $5.4 Million LIFE Offering On February 19, 2025, Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company On February 18, 2025, Hydreight Technologies Provides Update to Financing On February 10, 2025, Hydreight Technologies Inc. Announces LIFE Offering of up to $4 Million On February 5, 2025, Hydreight Technologies Expands Telehealth Offerings with Launch of NAD+ Therapy on VSDHOne Platform On January 29, 2025, Hydreight Technologies Partners with The DRIPBaR to Launch 'DRIPBaR Direct' Nationwide, Expanding Access to Direct-to-Consumer Healthcare Services On January 21, 2025, Hydreight and Victory Square Launch $10 Million Health Accelerator to Fuel Nationwide Expansion of Emerging Healthcare Brands on VSDHOne platform On January 9, 2025, Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision The Company believes the following Non-GAAP1 financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers: Three months ended March 31, 2025 2024 % change Adjusted Revenue $ 6,527,957 $ 4,867,004 34 % Deduct - deferred business partner contract revenue 454,140 (116,978 ) Deduct - business partner payouts on app service gross revenue 1,533,695 1,606,376 GAAP Revenue $ 4,540,122 $ 3,377,606 34 % Adjusted Gross Margin $ 1,958,605 $ 1,114,356 76 % Deduct - deferred business partner contract revenue 454,140 (116,978 ) GAAP Gross Margin $ 1,504,465 $ 1,231,334 22 % Adjusted EBITDA $ 163,412 $ (45,873 ) 456 % Deduct - amortization and depreciation 101,004 46,553 Deduct - share-based payments 41,505 216,295 GAAP Net Income (Loss) $ 20,903 $ (308,721 ) 107 % 1 Refer to Use of Non-GAAP Financial Measures The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly interim consolidated financial statements of the Company. Fiscal Quarter Ended Revenue Net Income (Loss) After Taxes Comprehensive Income (Loss) Basic Income(Loss) Per Share Diluted Income (Loss) Per Share March 31, 2025 4,540,122 20,903 21,652 0.00 0.00 December 31, 2024 4,040,578 20,577 (106,396 ) 0.00 0.00 September 30, 2024 4,526,320 (89,938 ) (53,119 ) (0.00 ) (0.00 ) June 30, 2024 4,100,212 (27,087 ) (48,184 ) (0.00 ) (0.00 ) March 31, 2024 3,377,606 (308,721 ) (370,559 ) (0.01 ) (0.01 ) December 31, 2023 3,373,193 (898,561 ) (865,068 ) (0.02 ) (0.02 ) September 30, 2023 3,088,219 (466,973 ) (548,954 ) (0.01 ) (0.01 ) June 30, 2023 2,699,668 (471,890 ) (405,638 ) (0.01 ) (0.01 ) Please see SEDAR+ for the Company's condensed consolidated unaudited interim financial statements and MD&A for the three months ended March 31, 2025 and audited annual consolidated financial statements for the year ended December 31, 2024. The Company has experienced dramatic user growth over the past two years as can be seen by the consistent revenue growth over the past eight quarters. Net loss and comprehensive loss have improved from 2023 and into 2024, with the current quarter reflecting net income. The Company continues to deliver on its mission of building the largest mobile clinical network in the United States. Through its medical network, pharmacy network and proprietary technology platform that adheres to the complex healthcare legislation across 50 states, Hydreight has provided a fully integrated solution for healthcare providers to become independent contractors. Strategic Outlook Hydreight remains focused on scaling responsibly while improving margins and capturing market share in the high-growth digital health space. Key priorities for the remainder of 2025 include: Focusing on Growth and our projections across three verticals Achieving profitability and sustaining positive Adjusted EBITDA Expanding offerings across genetic testing, anti-aging, and mental wellness Driving onboarding of high-volume franchise and D2C partners Pursuing strategic tuck-in M&A opportunities and investment that helps with our revenue and/or margins On behalf of the Board of DirectorsShane MaddenDirector and Chief Executive OfficerHydreight Technologies Inc. ContactEmail: ir@ Telephone: (702) 970-8112 Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. About Hydreight Technologies Inc. Hydreight Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform has hosted a network of over 3000 nurses, over 200 doctors and a pharmacy network through its Doctor networks across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. About VSDHOne - Direct to Consumer Platform Developed in partnership with Victory Square Technologies, Hydreight Technologies launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s, peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy ('TRT'), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Use of Non-GAAP Financial Measures: This release contains references to non-GAAP financial measures Adjusted Revenue, Adjusted Gross Margin and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company's operating cash flow growth, user growth, and cash generating potential and may assist in the evaluation of the Company's business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes information regarding expectations for the 2025 strategic outlook, Company's growth, Margins and VSDHOne's and Hydreight's growth and numbers in 2025. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company's shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 1 See Use of Non-GAAP Financial Measures
Ottawa Citizen
14-05-2025
- Business
- Ottawa Citizen
Hydreight Technologies to Present at Maxim Group's 2025 Virtual Tech Conference & the CEM Bermuda Capital Event
Article content VANCOUVER, British Columbia and LAS VEGAS, May 14, 2025 (GLOBE NEWSWIRE) — Hydreight Technologies Inc. ('Hydreight' or the 'Company') (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a fast-growing digital health platform transforming mobile and telehealth services across the United States, today announced that Shane Madden, CEO of Hydreight, will be presenting at the following investor conferences in June 2025: Article content Article content Article content Hosted by: Maxim Group LLC Date: June 3–5, 2025 Presentation Time: Tuesday, June 3rd at 12:30 PM PT / 3:30 PM ET Location: Virtual (M-Vest Platform) Registration: Click here to attend Article content Maxim's 2025 Virtual Tech Conference explores how emerging growth companies are leveraging technologies such as AI and telehealth to shape the future of healthcare and other industries. Hydreight's presentation will highlight its national healthcare infrastructure, proprietary technology platform, and strategy to scale its direct-to-consumer and pharmacy verticals. Article content CEM Bermuda Capital Event Article content Hydreight will participate in one-on-one meetings with institutional and high-net-worth investors throughout the conference. Article content Hydreight recently reported audited financial results for the fiscal year ended December 31, 2024, achieving several financial and operational milestones: Article content Article content Please see SEDAR+ for the Company's audited annual consolidated financial statements and MD&A for the year ends. Article content In 2024, Hydreight expanded its offerings to include Liraglutide, NAD+, TRT, peptide therapies, and oral weight-loss medications. The Company also secured strategic partnerships with national health franchises and clinical experts, including The DRIPBaR and Dr. Franklin Joseph.
Hamilton Spectator
14-05-2025
- Business
- Hamilton Spectator
Hydreight Technologies to Present at Maxim Group's 2025 Virtual Tech Conference & the CEM Bermuda Capital Event
VANCOUVER, British Columbia and LAS VEGAS, May 14, 2025 (GLOBE NEWSWIRE) — Hydreight Technologies Inc. ('Hydreight' or the 'Company') (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a fast-growing digital health platform transforming mobile and telehealth services across the United States, today announced that Shane Madden, CEO of Hydreight, will be presenting at the following investor conferences in June 2025: 2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow Hosted by: Maxim Group LLC Date: June 3–5, 2025 Presentation Time: Tuesday, June 3rd at 12:30 PM PT / 3:30 PM ET Location: Virtual (M-Vest Platform) Registration: Click here to attend Maxim's 2025 Virtual Tech Conference explores how emerging growth companies are leveraging technologies such as AI and telehealth to shape the future of healthcare and other industries. Hydreight's presentation will highlight its national healthcare infrastructure, proprietary technology platform, and strategy to scale its direct-to-consumer and pharmacy verticals. CEM Bermuda Capital Event Date: June 6–8, 2025 Location: Bermuda Conference Info: Hydreight will participate in one-on-one meetings with institutional and high-net-worth investors throughout the conference. Recent Company Highlights Hydreight recently reported audited financial results for the fiscal year ended December 31, 2024 , achieving several financial and operational milestones: Please see SEDAR+ for the Company's audited annual consolidated financial statements and MD&A for the year ends. In 2024, Hydreight expanded its offerings to include Liraglutide, NAD+, TRT, peptide therapies, and oral weight-loss medications. The Company also secured strategic partnerships with national health franchises and clinical experts, including The DRIPBaR and Dr. Franklin Joseph. FY2024 Earnings Call Hydreight hosted its 2024 year-end earnings call on May 6, 2025, where CEO Shane Madden and COO Vahid Shababi reviewed the Company's financial performance and strategic roadmap. The call covered highlights including margin expansion, platform scale, and strong early momentum from its D2C healthcare initiative, VSDHOne. Click here to watch the full recording 'We're excited to engage with the investment community at both the Maxim and CEM events,' said Shane Madden, CEO of Hydreight Technologies. 'Our FY2024 results validate our business model: strong recurring revenue, national scale, and positive EBITDA. As we look ahead to the second half of 2025, we're focused on scaling D2C onboarding through VSDHOne, expanding our pharmacy margins, and launching new wellness services. These events are an ideal platform to showcase our momentum and vision.' On behalf of the Board of Directors Shane Madden Director and Chief Executive Officer Hydreight Technologies Inc. Contact Email: ir@ ; Telephone: 1 (702) 970-8112 Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company About Hydreight Technologies Inc. Hydreight Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform has hosted a network of over 3000 nurses, over 200 doctors and a pharmacy network through its Doctor networks across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. About VSDHOne - Direct to Consumer Platform Developed in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight Technologies launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s, peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy ('TRT'), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Use of Non-GAAP Financial Measures: This release contains references to non-GAAP financial measures Adjusted Revenue, Adjusted Gross Margin and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (ii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company's operating cash flow growth, user growth, and cash generating potential and may assist in the evaluation of the Company's business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes information regarding expectations for the Company's growth, Margins and VSDHOne's growth and numbers in 2025. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company's shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. ¹See Use of Non-GAAP Financial Measures
Yahoo
01-05-2025
- Business
- Yahoo
Hydreight Achieves Record Revenue and Profitability Milestone in Q4 2024 Audited Results
Record 2024 Topline¹ revenue of $22.32 million, up 31% from 2023 Record 2024 GAAP revenue of $16.04 million, up 39% from 2023 2024 Adjusted EBITDA¹ of +490K compared to ($1.38) million in 2023 2024 gross margin of $5.75 million, up from 8% from 2023 Q4 2024 Topline¹ revenue of $5.74 million, up 15% from Q4 2023 Q4 2024 GAAP revenue of $4.04 million, a 20% increase over Q4 2023 Q4 2024 gross margin of $1.37 million, compared to 1.57 million in Q4 2023 Met profitability milestone by achieving positive cash flow from operations in 2024 Audited Results Ranked #9 on Deloitte's 2024 Technology Fast 50™ list of Canada's fastest-growing companies Ranked #56 on Deloitte's 2024 Technology Fast 500™ list of fastest-growing companies in North America Recognized as one of the TSX Venture Exchange's 2024 Top 50 Companies Completed First Post-IPO Financing: In February 2025, Hydreight raised $5.4 million in gross proceeds through a LIFE offering, attracting strong support from strategic and institutional investors to fuel its next stage of growth. Upcoming earnings call to discuss Fiscal Year 2024 results: Tuesday May 6, 2025, at 10am PST / 1pm EST. See below for registration details. VANCOUVER, British Columbia and LAS VEGAS, May 01, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. ('Hydreight' or the 'Company') (TSXV: NURS)(OTCQB: HYDTF)(FSE: SO6),a fast-growing mobile clinical network and medical platform offering flexible, at-home healthcare services across all 50 U.S. states, is pleased to announce that it has filed its audited financial statements for the 2024 fiscal year ended December 31, 2024. All financial information is presented in Canadian dollars unless otherwise indicated. 'At the beginning of last year, we committed to three things: delivering meaningful growth, reaching profitability, and increasing our visibility in the capital markets. I'm proud to say we've delivered on all three. With record revenue, positive Adjusted EBITDA, and recognition from Deloitte, the TSX Venture 50, we've laid a strong foundation. Now, our focus for 2025 is scaling VSDHOne. We've onboarded several high-volume D2C partners, 40+ services and medications, and expect a significant ramp-up in orders beginning in the second half of this year. With franchise white-label and pharmacy growth continuing as our core drivers, this next wave of expansion is what sets us up for our next inflection point.' — Shane Madden, CEO, Hydreight Technologies Inc. The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly consolidated financial statements of the Company. Fiscal Quarter Ended Revenue Net Income (Loss) After Taxes Comprehensive Loss Basic and Diluted Loss Per Share December 31, 2024 4,040,578 20,577 (106,396 ) 0.00 September 30, 2024 4,526,320 (89,938 ) (53,119 ) (0.00 ) June 30, 2024 4,100,212 (27,087 ) (48,184 ) (0.00 ) March 31, 2024 3,377,606 (308,721 ) (370,559 ) (0.01 ) December 31, 2023 3,373,193 (898,561 ) (865,068 ) (0.02 ) September 30, 2023 3,088,219 (466,973 ) (548,954 ) (0.01 ) June 30, 2023 2,699,668 (471,890 ) (405,638 ) (0.01 ) March 31, 2023 2,348,416 (99,927 ) (99,125 ) (0.00 ) Please see SEDAR+ for the Company's condensed consolidated audited financial statements and MD&A for audited annual consolidated financial statements for the year ended December 31, 2024. 2024 Key Highlights and Subsequent Events Fourth quarter revenues were $4.04M compared to $3.37M in the comparative quarter. Fourth quarter Adjusted Revenue1 and Adjusted Margin1 was $5.74M and $1.68M compared to $4.99M and $1.78M in the comparative quarter. Fiscal 2024 revenues were $16.04M compared to $11.51M in the comparative year. Fiscal 2024 Adjusted Revenue1 and Adjusted Margin1 was $22.32M and $5.75M compared to $17.05M and $5.34M in the comparative quarter. Fourth quarter Adjusted EBITDA1 was +$270K compared to ($557K) in the comparative quarter. Fiscal 2024 Adjusted EBITDA1 was +$490K compared to ($1.38M) in the comparative year. Fiscal 2024 cash flow from operating activities was $857K compared to ($402K) in cash used in operating activities in the comparative year. Cash balance at December 31, 2024, is $1.19M compared to $1.78M at December 31, 2023. On April 17, 2025. Hydreight Technologies to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1×1 Meetings on Thursday, April 24, 2025 On April 15, 2025. Hydreight Technologies Expands GLP-1 Telehealth Suite with Launch of Liraglutide on VSDHOne Platform On April 8, 2025. Hydreight Technologies Partners with Renowned Endocrinologist Dr. Franklin Joseph to Bring Globally Successful Weight Loss Brand to the U.S. via VSDHOne Platform On April 2, 2025. Hydreight Technologies Named One of the Americas' Fastest Growing Companies by Financial Times On February 27, 2025. Hydreight Technologies Expands Telehealth Services with New Oral Weight Loss Therapies on VSDHOne Platform On February 26, 2025. Hydreight Technologies Inc. Announces Closing of $5.4 Million LIFE Offering On February 19, 2025. Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company On February 18, 2025. Hydreight Technologies Provides Update to Financing On February 10, 2025. Hydreight Technologies Inc. Announces LIFE Offering of up to $4 Million On February 5, 2025. Hydreight Technologies Expands Telehealth Offerings with Launch of NAD+ Therapy on VSDHOne Platform On January 29, 2025. Hydreight Technologies Partners with The DRIPBaR to Launch 'DRIPBaR Direct' Nationwide, Expanding Access to Direct-to-Consumer Healthcare Services On January 21, 2025. Hydreight and Victory Square Launch $10 Million Health Accelerator to Fuel Nationwide Expansion of Emerging Healthcare Brands on VSDHOne platform On January 9, 2025. Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision On December 16, 2024. Hydreight Updates on VSDHOne: Revolutionizing Direct-to-Consumer Healthcare Across All 50 States On November 26, 2024. Hydreight Reports Record Topline¹ Revenue of $6.12M in Q3-2024 (YOY Increase of 54%) and achieved positive Adjusted EBITDA¹ On November 21, 2024. Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ On November 6, 2024. Hydreight Technologies Inc. Ranks 9th in Deloitte's Technology Fast 50 Program Winners for 2024 On October 24, 2024. VSDHOne Expands to Offer Asynchronous Telehealth Treatments Including Skincare, Hair Loss, and Sexual Health On October 16, 2024. Hydreight Provides Corporate Update Reflecting Significant Growth On September 30, 2024. Hydreight Announces Normal Course Issuer Bid On August 28, 2024. Hydreight Reports Record Topline¹ Revenue of $5.59M in Q2-2024 (YOY Increase of 27%) and positive Adjusted EBIDTA¹ On July 11, 2024. Hydreight Expands Its 'At-Home Blood Testing' Solution with More Tests to All 50 States On June 26, 2024, Hydreight provided a corporate update reflecting significant revenue growth and strong organic operational growth. On June 12, 2024, Hydreight announced the addition of the third national wellness med spa franchise for white label solution. On June 5, 2024, Hydreight announced Launching VSDHOne, a telemedicine solution that helps companies launch a direct to consumer ('D2C') healthcare brand in all 50 States. On May 30, 2024, Hydreight reported record Adjusted Revenue1 of $4.87M in Q1-2024 (YOY Increase of 33%) On May 23, 2024, Hydreight Technologies, through its associated medical network, announced it now offered Tirzepatide which also features GLP-1 Medications (Low-Cost Semaglutide), NAD+ and more. On April 29, 2024, Hydreight announced that it achieved record revenue and filed its audited financial statements for the fiscal year ended December 31, 2023. On March 25, 2024. Hydreight Partners with American Frontline Nurses with a Network of Over 26,000 Nurses On February 26, 2024. Hydreight Partners with Ola Digital Health, an Independent, National Pharmacy Network to Provide Health and Wellness Services in Store On February 15, 2024. Hydreight Founder and CEO, Shane Madden, Joins Founding Member Board of the American IV Association On January 16, 2024. Hydreight to Participate in the Maxim Group Healthcare IT Conference January 24 – 25, 2024 On January 8, 2024. Hydreight Provides Year-End Review on Significant Growth and Progress The Company believes the following Non-GAAP1 financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers: Three months ended December 31, Twelve months ended December 31, 2024 2023 % change 2024 2023 % change Adjusted Revenue $ 5,742,523 $ 4,992,195 15 % $ 22,321,265 $ 17,050,345 31 % Deduct - deferred business partner contract revenue 208,436 209,275 (45,317 ) 379,377 Deduct - business partner payouts on app service gross revenue 1,493,509 1,409,727 6,321,866 5,161,472 GAAP Revenue $ 4,040,578 $ 3,373,193 20 % $ 16,044,716 $ 11,509,496 39 % Adjusted Gross Margin $ 1,679,247 $ 1,779,249 -6 % $ 5,749,796 $ 5,340,827 8 % Deduct - deferred business partner contract revenue 208,436 209,275 (45,317 ) 379,377 Deduct - inventory impairment 98,860 - 98,860 - GAAP Gross Margin $ 1,371,951 $ 1,569,974 -13 % $ 5,696,253 $ 4,961,450 15 % Adjusted EBITDA $ 270,179 $ (579,473 ) 147 % $ 489,704 $ (1,384,253 ) 135 % Deduct - amortization and depreciation 62,853 68,661 181,136 108,389 Deduct - share-based payments 87,889 250,427 614,877 444,709 Deduct - inventory impairment 98,860 - 98,860 - GAAP Net Income (Loss) $ 20,577 $ (898,561 ) 102 % $ (405,169 ) $ (1,937,351 ) 79 % 1Refer to Use of Non-GAAP Financial Measures Hydreight has expanded each division according to the revenue generation and needs of each specific division; scaling while the division's initiatives are performing successfully. Hydreight Continues Strong Growth Trajectory in 2024 Hydreight has delivered eight consecutive quarters of revenue growth, underscoring the platform's scalability and market demand. In fiscal 2024, the Company reported: GAAP revenue of $16.04 million, up from $11.51 million in 2023 Adjusted Revenue¹ of $22.32 million Adjusted EBITDA¹ of $270K, a meaningful turnaround from negative $1.38 million in 2023 Adjusted Gross Margin¹ of $5.75 million, demonstrating improved unit economics and margin leverage Hydreight's network now spans over 3,000 nurses, 200+ physicians, and a compliant infrastructure operating across all 50 states and 700+ cities. The Company's VSDHOne platform powers 400+ Direct to Consumers license holders, serving as a critical launchpad for high-growth consumer health businesses entering the telehealth and at-home care space. While continuing to invest in product expansion and onboarding, the Company has kept core operating expenses in check. Excluding one-time items such as the RTO-related costs in Q4 2022, net and comprehensive loss has remained stable—a testament to prudent financial management amid high growth. Hydreight is uniquely positioned at the intersection of consumerization, telehealth, and compliance—a combination that supports both continued topline growth and margin expansion in the years ahead. Strategic Focus for 2025 Building on our strong momentum, Hydreight is executing a focused 2025 strategy centered around six high-impact growth priorities: Expand Franchise White-Label Partnerships: We are rapidly scaling our footprint by partnering with high-volume, consumer-facing health and wellness brands. These collaborations leverage our compliant, 50-state infrastructure and turnkey platform to power new digital health products—from weight loss to sexual wellness—under leading D2C brands. Increase Pharmacy Margins: By optimizing our supply chain and improving unit economics across prescription volumes, we are enhancing gross margin contributions from one of our most scalable revenue drivers. Strategic pricing, operational efficiency, and exclusive formulary additions will support margin expansion in 2025. Launch New Wellness Categories: We're extending our clinical offering beyond GLP-1s to include NAD+, testosterone replacement therapy (TRT), peptide therapies, and additional personalized wellness treatments. These categories tap into surging consumer demand for longevity, performance, and preventative care solutions. Scale VSDHOne D2C Onboarding: With over 400 licenses already sold on the platform, we're accelerating the onboarding of high-growth D2C healthcare companies Onboard and Support More Nurses Nationwide:We are deepening our provider network by attracting, onboarding, and supporting thousands of licensed nurses through training, education, and platform tools—enabling them to operate independently or plug into branded service lines on the platform. Pursue Strategic Tuck-In Acquisitions:Hydreight is actively pursuing accretive acquisitions of complementary D2C health brands, IP, and clinical infrastructure that can scale faster through our platform. The focus is on revenue-generating businesses that improve our product mix, enhance margins, and add operating leverage. ️Upcoming Earnings Call Hydreight Technologies will host a live earnings call to discuss its Fiscal Year 2024 results, provide a business update, and share insights into the Company's strategic priorities for 2025. Date & Time: Tuesday, May 6 at 10am PST / 1pm EST Registration Link: About Hydreight Technologies Inc. Hydreight Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform has hosted a network of over 3000 nurses, over 200 doctors and a pharmacy network through its Doctor networks across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. On behalf of the Board of DirectorsShane MaddenDirector and Chief Executive OfficerHydreight Technologies Inc. Contact ContactEmail: ir@ Telephone: 1 (702) 970-8112 This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. About VSDHOne - Direct to Consumer PlatformDeveloped in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight Technologies launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s, peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy ('TRT'), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Use of Non-GAAP Financial Measures: This release contains references to non-GAAP financial measures Adjusted Revenue, Adjusted Gross Margin and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company's operating cash flow growth, user growth, and cash generating potential and may assist in the evaluation of the Company's business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and includes information regarding expectations for the Company's growth, Margins and VSDHOne's growth and numbers in 2025. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company's shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 1See Use of Non-GAAP Financial MeasuresSign in to access your portfolio
Yahoo
18-02-2025
- Business
- Yahoo
Hydreight Technologies Provides Update to Financing
VANCOUVER, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (TSXV: NURS) ("Hydreight" or the "Company"), a North American, fully integrated, mobile clinical network of nurses, doctors, and pharmacy distribution, is pleased to announce that it has received commitments of over $4 million for its brokered private placement previously announced on February 10, 2025 (the "Offering"). The Offering remains subject to approval from the TSX Venture Exchange. Shane Madden, the Chief Executive Officer of the Company, said "we have closed the order books after a successful marketing period. We look forward to welcoming new investors that support our long-term objectives." The Offering is being conducted by Beacon Securities Limited (the "Agent") and will consist of up to 2,581,000 units of the Company (each, a "Unit") at a price of $1.55 per Unit (the "Offering Price") for aggregate gross proceeds of up to $4,000,550. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (each, a "Warrant") of the Company. Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a "Warrant Share") at a price of $2.00 per Warrant Share for a period of 36 months from the Closing Date (as defined herein). The Units will be issued under the listed issuer financing exemption pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions. In addition, the Company has granted the Agent an option to arrange for the purchase and sale of up to an additional 3,710,000 Units at the Offering Price, exercisable in whole or in part, by the Agent giving notice to the Company at any time until 48 hours prior to the closing of the Offering. There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read the Offering Document before making an investment decision. The Offering is expected to close on or about February 26, 2025 (the "Closing Date"), or such other date as may be determined by the Company the Agent and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. persons or any persons within the United States absent registration or available exemptions from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 'United States' and 'U.S. person' are as defined in Regulation S under the U.S. Securities Act. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For more details on the financing, please visit: SEDAR+: Hydreight's Website: Shane MaddenDirector and Chief Executive OfficerHydreight Technologies Inc. Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ ContactEmail: ir@ Telephone: 1 (702) 970-8112 About Hydreight Technologies Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. About VSDHOne - Direct to Consumer PlatformDeveloped in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s (semaglutide, tirzepatide), peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy (TRT), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. Cautionary Note Regarding Forward-Looking InformationCertain statements made and information contained in this news release, including statements regarding the terms, amounts, timing, closing and use of proceeds raised under the Offering and receipt of all required approvals relating to the Offering, is "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements, including but not limited to the timing of the closing of the Offering and the intended use of net proceeds raised from the Offering, are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to the Offering and the issuance of the Units, including the amounts expected to be raised, the timeline of certain events in respect thereof, including the applicable exemptions, satisfaction of closing conditions, the receipt of TSX Venture Exchange approvals in respect of the Offering, sufficiency of proceeds, conditions of financial markets, economic conditions including any governmental regulations with respect thereto including tariffs, protective governmental regulations, consumer responses to such actions and other related effects, management's discretion with respect to the use of proceeds and the use of the available funds following completion of the Offering, including the timing and cost of planned corporate projects and developments and the use of funds in connection therewith, and the other risk factors described in our securities filings available at Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Although the Company believes that the assumptions and factors used in preparing these forward- looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements and no assurance can be given that such events will occur in the disclosed times frames or at all. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are therefore cautioned not to place undue reliance on forward-looking statements and forward-looking information. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, changing circumstances, or otherwise.
