Ventures Inc. (TSXV: ) on November 29 declared it has filed on SEDAR the unaudited consolidated financial statements and Management Discussion and Analysis for its newly-acquired operating subsidiary, Pacific Frontier Investment Inc. (PFI), for the three and nine months (pre-acquisition) ended September 30, 2021, and 2020.
These consolidated financial statements and MD&A are for PFI for the period immediately prior to the completion of the Corporation’s reverse takeover by PFI on October 14, 2021, as per a release.
The consolidated financial statements and MD&A can be viewed at www.sedar.com. The financial information provided herein should be read in conjunction with and is qualified by additional information and disclosures contained in the consolidated financial statements, including the notes thereto, and the MD&A.
Mr. Joe Bleackley, CEO, Founder and Director of, commented, “We are proud to announce our Q3 2021 results which include revenues from our 3rd acquisition and improved location which opened in late July. All of 2021 is a planned investment period where we’re making key investments in team and infrastructure to lay the foundation for our future growth of .”
Non-IFRS Financial Measures
The discussion of consolidated financial results in this press release includes references to “Adjusted EBITDA” (earnings before interest, taxes, depreciation, and amortization), which is a non-IFRS performance measure. The Company presents these measures to provide additional information regarding the Company’s financial results and performance. Please refer to the Company’s MD&A for the three and nine-month periods ended September 30, 2021 and 2020 for a reconciliation of these measures to reported IFRS results.
Three months ended September 30, 2021 Release Highlights
(All figures are indollars)
Revenues of $1,175,226Adjusted EBITDA of $559,924
Ventures Inc. is developing a network of premier branded, upscale and and under the “ ” name. currently has three located in . and is focused on growing its network through both acquisitions and new construction. The Corporation is taking advantage of the rapidly growing market of who want to experience the great in an .
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