PurLife Management Group Further Establishes Itself as New Mexico's Fastest Growing Medical Cannabis Company
Company reports continued YoY growth of 150% in Q2 2019, highlighted by some of the strongest sales-per-unit figures in the New Mexico market
Expansion and redesign of state-of-the-art cultivation facilities in Albuquerque on track for completion in Q4 2019
ALBUQUERQUE, N.M., Sept. 18, 2019 /PRNewswire/ -- PurLife Management Group ("PurLife" or "the company"), a leading vertically integrated, multi-state cannabis operator with a dominant footprint in the state of New Mexico, announced today reported sales of $3.89 million in Q2 2019, an increase of more than 150% from one year ago. PurLife, who also reported more than 150% growth in Q1 2019, is currently the #1 fastest growing medical cannabis company in New Mexico based on YoY growth, and the #2 player in terms of overall sales.
PurLife's Q2 2019 sales are highlighted by the consistent growth of the company's sales-per-unit figures, which are among the strongest in the New Mexico market. PurLife expects a similar performance from its newest location in Farmington, the company's seventh location in New Mexico, which opened for business in July. PurLife plans to open three additional dispensary locations in the state by the end of 2019, beginning with Alamogordo and Rio Rancho sites targeted for opening in October. Later this year, the company and its partners will also open new dispensary locations under the PurLife brand in both Columbus, Ohio, and West Monroe, Louisiana, as it continues to expand its footprint beyond New Mexico.
"New Mexico's medical marijuana program continues to grow and PurLife continues to address the growing needs of the evolving patient base," says Darren White, co-founder and chief executive officer of PurLife. "To successfully execute on our mission of providing premium quality medicine to our new and existing markets, we've expanded our dispensary locations to better serve those patients who need it most. I'm proud of the team's progress to date in 2019, and look forward to our continued growth throughout the remainder of the year."
PurLife is poised for further-increased growth when the expansion and redesign of its cultivation facilities in Albuquerque are completed in Q4 of this year. Designed by master grower Ryan Gomez, PurLife's co-founder and director of cultivation, alongside Long Duong, an industry veteran and PurLife's director of development, these state-of-the-art grows have been strategically designed to outperform other top cannabis cultivation facilities in the state, with features including:
- the latest cultivation technology and equipment capable of supporting up to 3,500 plants;
- innovative layouts and floor plans developed for optimum production and performance;
- amenities for employees such as a gym, break rooms and meeting areas; and
- top of the line security infrastructure.
"PurLife has built a reputation around delivering the highest level of patient-centric care, which starts with producing apex products," says Ryan Gomez, co-founder and head of cultivation at PurLife. "Producing apex products requires top-notch facilities, and since our founding in 2017, we have been committed to exceeding the industry standards for excellence across all of our cultivation centers. This redesign and expansion project has better-positioned our New Mexico operations for the future, and will allow us to better serve the communities where we operate."
PurLife was also retained in Q2 2019 for advisory services by an emerging east coast company in need of support for a highly competitive licensing application process. PurLife advises legal cannabis and CBD companies around the United States, providing services that include application support, infrastructure development, cultivation and dispensary management consulting.
For more information, please visit www.PurLifeNM.com.
ABOUT PURLIFE MANAGEMENT GROUP
PurLife Management Group ("PurLife") is a vertically integrated, multi-state cannabis operator with a dominant footprint in the state of New Mexico. Founded and led by former political leaders, public safety officials and military veterans, the company takes a responsible and patient-centric approach to every stage of the process from seed to sale. PurLife also offers a wide-range of industry leading advisory services, including application support, infrastructure development, cultivation and dispensary management consulting. In January 2019, PurLife launched its own CBD product line, sold through its CannaCare subsidiary under the PurLife brand. The company is headquartered in Albuquerque, New Mexico with operations and assets in Louisiana, New Mexico and Ohio. For more information, please visit www.PurLifeNM.com.
CONTACT
Jake Malcynsky
Gaffney Bennett for PurLife
[email protected]
SOURCE PurLife Management Group
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