Integrated Cannabis Reports 7-Month Revenue Of $3.3M From Ganja Gold Subsidiary

Integrated Cannabis Company Inc ICNAF has been struggling on the fundamental side of things for a while. However, this seems to have changed with the acquisition of Ganja Gold earlier this year.

Ganja Gold, the top infused pre-roll brand in California, posted roughly $3.3 million in sales through July of fiscal 2019, according to information procured exclusively by Benzinga.

The second highest pre-roll brand had roughly $2.5 million in sales, according to BDS Analytics.

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“This past July, consumers in California spent $25 million on Pre-Rolled products, a 66 percent increase compared to July 2018," the company said. "While sales of Flower have ceded share to other categories, Pre-Rolled products are another matter. This past July, revenues from Pre-rolled products contributed nine percent towards overall revenue in California.”

BDS also reported Ganja Gold sells the No. 1 and No. 3 selling SKUs in the infused pre-roll category.

“The pre-roll and specifically pre-roll market has seen tremendous growth in the last year, and of late due to many factors,” said Seth Wiles, president of Integrated Cannabis. “We will leverage our standing as the best-selling infused pre-roll brand in the world’s largest cannabis market (California) to launch in other key states this Fall.”