PurLife Management Group Announces 150% YoY Growth in New Mexico Throughout FY 2019, Opening Dates for New Dispensary Locations
Company reports revenue in New Mexico of $4,329,192 in Q3 2019 and $4,535,755 in Q4 2019
Alamogordo dispensary opens and Rio Rancho is slated to launch in March - bringing the company's total number of dispensaries in New Mexico to nine
ALBUQUERQUE, N.M., Feb. 19, 2020 /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, today reported quarterly sales in New Mexico of $4,329,192 in Q3 2019 and $4,535,755 in Q4 2019. With these latest numbers, PurLife has now reported four straight quarters where the company's sales have increased by over 150% on a YoY basis.
"We more than exceeded our expectations for last year in New Mexico," said Darren White, co-founder and chief executive officer of PurLife. "The state's patient count grew by more than 19% in 2019, reaching a total of over 81,000 registered patients. That growth is among the strongest in the nation, and while it continues to be overlooked by many in the industry, it's certainly not overlooked by us. No matter where opportunities around the country take us, our primary focus remains on what got us here, and that's the patient population in our home market of New Mexico."
PurLife, who in 2019 successfully opened a new dispensary location in Farmington and completed a total revamp and augmentation of its Albuquerque cultivation center, will continue to expand its New Mexico operations throughout 2020, starting with the opening of their new dispensary in Alamogordo on February 11th and Rio Rancho slated to open in March. With the opening of these new locations, the company will boast nine dispensaries throughout the state, giving PurLife the second largest footprint in the market. Following Alamogordo and Rio Rancho, the company plans to open up to six additional dispensaries in New Mexico throughout 2020.
"As a proud New Mexico native, I'm determined to bring the PurLife brand to every corner of my home state," said Indy White, co-founder, general counsel and director of dispensary operations at PurLife. "Opening new stores is the best part of the job. Improving patient access to the highest quality medicine and expanding the reach of our brand is all rewarding, but what gets us really excited is contributing to New Mexico's economy through consistent job creation. Over the past four years, PurLife's growth has allowed us to hire more than 100 team members across New Mexico. Of all the impressive growth stats we have, that's the one we're most proud of."
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, where the company is currently the fastest growing medical cannabis company based on YoY growth, and number two in overall sales. 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 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 interests 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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