MTL Cannabis Corp. Reports First Quarter Results with $25.9 Million of Revenue and Announces Transformational Capital Projects
Quality Products and Services Drive Continued Positive Operating Income, EBITDA, and Strong Margins
PICKERING, ON, Aug. 28, 2025 /CNW/ - MTL Cannabis Corp. (CSE:MTLC) ("MTL" or the "Company") is pleased to report it has filed the financial statements as at and for the three-month period ending June 30, 2025, and 2024. Complete details may be found at www.sedarplus.ca.
First Quarter 2025 Consolidated Financial Highlights:
The Company generated revenue of $25,890,287, an improvement of $48,023, compared to $25,842,264 in the same quarter of last year.
The Company continues to demonstrate positive Operating Income of $2,052,265, compared to $4,963,969 in the same quarter of last year.
The Company continues to generate positive EBITDA of $3,447,895 and Adjusted EBITDA of $2,995,799, compared to $6,527,812 and $5,034,889, respectively, in the same quarter of last year.
(1) See "Non-IFRS financial measures" section below for reconciliation of EBITDA and Adjusted EBITDA.
Capital Project Summary:
To facilitate future growth, the Company has announced a number of transformational capital projects which have started during the first quarter of FY2026, specifically:
LED Lighting Installation: During the first quarter of FY2026, the Company successfully completed the retrofit of all cultivation rooms at all facilities located in Montreal and Louisville, allowing for the installation of LED lights to support ongoing cultivation operations. Once fully operational, the LED lighting technology is expected to reduce utility costs while increasing yields and overall product quality for the market.
Retrofit of 815 Tecumseh Facility: The Company has begun construction on the retrofit and expansion of the 815 Tecumseh facility in Pointe-Claire, QC. Currently, the facility serves both cultivation and all post-harvest, processing, packaging, and fulfillment operations for the Canadian recreational and international export markets. The retrofit will allow for a total of four (4) new rooms for cultivation operations, expanding the cultivation capacity of the asset from up to 9,000 kg per year to up to 11,000 kg per year after completion. The retrofit of the 815 Tecumseh facility is expected to be completed by March 2027.
Retrofit of 4225 Transcanadienne Facility: The Company has received a Health Canada processing license at its facility located at 4225 Transcanadienne in Pointe-Claire, QC. The facility was previously unutilized and will now serve as the 'hub' asset for the Company as the central processing asset for all post-harvest operations, processing, packaging, and distribution for the Canadian recreational, Canadian medical, and international export channels. The transition of these key processes will allow for the further expansion of both the 815 Tecumseh facility and the Abba Medix facility in Pickering, ON. The retrofit of the 4225 Transcanadienne facility is expected to be completed by March 2027.
Transition of Medical Fulfillment Operations: During Q2 2026, the Company is transitioning the medical fulfillment operations from Pickering to Montreal in the 4225 Transcanadienne facility. This will allow the Company to expand medical fulfillment operations, expand the medical menu which already features over 450 SKUs from over 38 different suppliers, and ...
