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Green Rise Foods Inc. (V:GRF)

Business Focus: Vegetable, Fruit & Nut Farming

Sector:  Consumer Non-Cyclicals Industry:  Fishing & Farming
Company Contact
Address: 47 Colborne Street, Suite 301
Tel: N/A
IR: See website
Key People
Business Overview
Green Rise Foods Inc. is a Canada-based controlled-environment agriculture grower of fresh produce. The Company wholly owns about 72 acres of greenhouse ranges and an additional 15-acre organic range leased to Mastronardi Produce Ltd. The Company is a grower of fresh produce with about 89 acres of greenhouse ranges, including a 51- acre greenhouse (Green Rise 1) located in Leamington, Ontario, and a 22-acre and a 16-acre greenhouse (Green Rise 2 and Green Rise 3), both located in Kingsville, Ontario. The seasonal operation consists of the growing, packaging and the sale of produce. Green Rise 1 grows medley and piccolo varieties. The Company also leases 15-acres of its GR1 greenhouse to one customer, who is growing organic peppers. Its products include One Sweet Peppers, MiMi Gourmet Tomatoes, Zima, XL Beef, Wild Wonders, Honey Bombs, and Mini Kumato.
Financial Overview
For the nine months ended 30 September 2023, Green Rise Foods Inc. revenues increased 19% to C$22.1M. Net income totaled C$1.7M vs. loss of C$334K. Revenues reflect Sales of fresh produce increase of 19% to C$21.5M, Rent and Other increase of 15% to C$598K. Net Income reflects Net change in fair value of biological a increase from C$557K to C$2.4M (income), Land transfer taxes decrease from C$273K (expense) to C$0K.
Reporting Currency: Canadian Dollars
Enterprise value: $70.83M as of Sep 30, 2023
Annual revenue (TTM): $26.56M as of Sep 30, 2023
EBITDA (TTM): $7.15M as of Sep 30, 2023
Net annual income (TTM): $0.29M as of Sep 30, 2023
Free cash flow (TTM): $6.68M as of Sep 30, 2023
Net Debt Last Fiscal Year: $46.40M as of Sep 30, 2023
Shares outstanding: 46,505,732 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization