PurLife Management Group Continues Impressive Growth
Company reports 150% YoY growth in its core market of New Mexico, expands into new geographic markets and launches CBD product line
MJ Express-O transaction closes in Q4 2018, adding three new dispensary locations and a fully-operational grow to the Company's portfolio
ALBUQUERQUE, N.M., May 23, 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 strong sales figures from its first quarter, its expansion into new geographic markets and the continued diversification of its portfolio of cultivation, processing and dispensing assets. Additionally, the company launched its own line of CBD products under the PurLife brand.
With Q1 revenue of over $3.25 million, a 150% increase from a year ago, PurLife has established itself as the number two vertically integrated cannabis company in New Mexico based on sales. The company's New Mexico footprint includes two state of the art production facilities and five dispensary locations strategically situated throughout the Albuquerque, Las Cruces and Truth or Consequences markets. Three of the company's dispensary locations were added following its acquisition of MJ Express-O, a licensed New Mexico medical cannabis producer, which closed in Q4 2018. PurLife plans to open four additional dispensary locations in New Mexico in 2019, beginning with a Farmington site targeted for opening in June.
"We're in the business of providing the highest level of patient-centric care in the markets we serve, which starts in our home state of New Mexico," says Darren White, co-founder and chief executive officer of PurLife. "Since our founding in 2015, our mission has been to combine premium quality medicine with an unparalleled customer experience. Over the past three-plus years, we have successfully executed on this mission, with our expansion both within and outside of New Mexico serving as a testament to that success. We're proud of the progress that's been achieved thus far and look forward to continuing that momentum throughout 2019."
PurLife has expanded its footprint beyond New Mexico, having acquired interests in medical cannabis assets in Louisiana and Ohio, as well as a hemp farm and CBD processing facility in New York. Both the Louisiana and Ohio assets will operate under the PurLife brand, while the New York asset operates under the Black Dirt CBD brand. PurLife will continue exploring new growth markets for both cannabis and hemp outside of New Mexico throughout the second half of 2019.
"PurLife has worked hard to garner a reputation for our high-quality products and trusted expertise, which transcends industry segmentation and geography," says Ryan Gomez, co-founder, vice president and head of cultivation at PurLife. "We invest in our production at every level, from the infrastructure of our facilities, to the nutrients we use with our plants, to the talented staff we employ across all of our locations. With these new strategic additions to our portfolio, we are now better positioned than ever to deliver apex products to our patients and bring the PurLife brand to new markets."
PurLife's leadership team has a proven track record of being awarded licenses and responsibly operating vertically integrated cannabis businesses throughout the United States. Led by Darren White, the former Chief Public Safety Officer for the City of Albuquerque (2009-2011), Sheriff of Bernalillo County (2002-2009), and Secretary of the New Mexico Department of Public Safety (1995-1999), the company leverages decades of combined political, public safety and cannabis industry experience to navigate the complexities of the evolving sector. In addition to Mr. White, the company's management team includes Ryan Gomez, head of cultivation, Indy White J.D., head of dispensary operations, and Long Duong, an industry veteran who joined the company as part of the MJ Express-O transaction.
For more information, please visit www.PurLifeNM.com.
ABOUT PURLIFE MANAGEMENT GROUP
PurLife Management Group 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. The company is headquartered in Albuquerque, New Mexico with operations and assets in Louisiana, Ohio, New Mexico and New York. For more information, please visit www.PurLifeNM.com.
CONTACT
Jake Malcynsky
Gaffney Bennett for PurLife
[email protected]
(860) 229-0301
SOURCE PurLife Management Group
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