Green Rise Capital Corp. (TSE:GRF) has released an update.
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Green Rise Foods Inc. has reported a 14.7% increase in annual revenue for 2023, reaching CDN$26.5 million, despite a dip in adjusted EBITDA due to environmental challenges and a covenant breach with RBC, which they plan to rectify by August 2024. As the 2024 crop season progresses, the company is on track with debt obligations and is implementing operational improvements to enhance yield and efficiency. These strategic changes aim to avoid a repeat of the previous year’s production issues and potentially secure favorable pricing with Mastronardi Produce Ltd.
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