PICKERING, ON – MTL Cannabis Corp. filed the financial statements for the three-month period ending June 30, 2025, and 2024.
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.
Capital Project Summary
To facilitate future growth, the Company has announced a number of capital projects which have started during the first quarter of FY2026:
LED Lighting Installation: During the first quarter of FY2026, the Company 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.
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 plans to transition 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, and allow the Company to accelerate the growth of the veteran-focused medical business. The Company currently serves over 5,000 clients overall, and over 3,500 veterans on the medical platform.
Retrofit of Pickering Facility: The Company has announced the complete shutdown and retrofit of the Abba Medix facility located in Pickering, ON. The retrofit will include the installation of LED lighting technology being utilized in the Company’s other cultivation assets and allow for the expansion of cultivation operations at Abba Medix, increasing the estimated annual yields from 2,500kg to over 4,000 kg per year. The project is expected to be completed in early 2027.
About MTL Cannabis Corp.
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc., a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario, that operates a medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec, growing indoor cannabis in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions.
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