CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF) (the “Company”) (CENTR®, or CENTR Instant), one of the fastest-growing premium functional wellness drink brands in North America, today announced its audited financial results for the year ended May 31, 2022. Selected comparative financial information is set forth below with the full financial statements for the year and the related management’s discussion and analysis available under the Company’s SEDAR profile at www.sedar.com. All amounts are expressed in United States Dollars, unless otherwise stated:
- For the year ended May 31, 2022, net income and comprehensive income includes a non-cash gain of $5,879,278 for the revaluation of warrants as a liability for accounting purposes.
- For the year ended May 31, 2021, net loss and comprehensive loss includes non-cash losses of $8,014,811 for the revaluation of warrants as a liability for accounting purposes and $2,240,873 for the vesting of restricted share units.
“We continue to be excited about CENTR’s leadership in the high-growth sparkling CBD beverage category. We expect to continue to deliver solid results and best-in-class performance as this category continues to evolve and activate in additional markets throughout the U.S,” said Company CEO, Arjan Chima. “We look forward to CENTR’s continued growth within the CBD sparkling water category. Additionally, we are excited at the tremendous growth prospects with the launch of CENTR Enhanced, the Company’s first non-CBD product meeting consumer demand in the high-growth, multi-billion-dollar functional beverage market, which will be available to consumers throughout North America later this calendar year. “We continue to be pleased with the strong, triple-digit, growth rates CENTR has been achieving year-over-year and look forward to similar growth as CENTR evolves beyond CBD into a leading supplier in the life-style oriented functional wellness market,” said Company President & CFO, David Young.