Toronto, Ontario--(Newsfile Corp. - November 27, 2025) - Green Rise Foods Inc. (TSXV: GRF) ("Green Rise" or the "Company") is pleased to release its interim condensed consolidated financial results for the three and nine-month periods ended September 30, 2025.
The complete interim condensed consolidated financial statements and associated Management's Discussion and Analysis ("MD&A") are available under the Company's profile at http://www.sedarplus.ca.
Selected Highlights for the three and nine-month periods ended:
- Year-to-date fresh produce revenue of CDN $23.4 million for the nine-month period ended September 30, 2025, versus $23.9 million for the comparative prior year period, representing a decrease of 2% ($11.3 million versus $11.5 million for the three-month period ended September 30, 2025, and September 30, 2024, respectively, representing a decrease of 2%).
- Adjusted EBITDA decreased to CDN $4.6 million for the nine-month period ended September 30, 2025, versus $6.7 million for the nine-month period ended September 30, 2024, representing a decrease of $2.1 million or 31% ($2.9 million versus $3.6 million for the three-month periods ended September 30, 2025, and September 30, 2024, respectively, representing a decrease of $0.7 million or 19%).
"A colder winter and excessive heat waves in late June, mid July, and early to mid-August, along with the timing of certain government grants recognized in the prior year comparative nine-month period ended September 30, 2024, were the primary factors behind the decline in Adjusted EBITDA. Despite these challenges, our grow teams worked diligently to mitigate these impacts, and we anticipate a solid fourth quarter to finish the year strong. We have also finalized our 2026 crop selections with our partner Mastronardi Produce Limited," said Vincent Narang, the Company's Chief Executive Officer.
ABOUT GREEN RISE
Green Rise uses its wholly owned 89 acres of Controlled-Environment Agriculture Greenhouses to produce high-quality fresh produce under the "SUNSET" brand for Mastronardi Produce Ltd, our distribution partner. Green Rise is proud to be an environmentally sustainable investment providing bee-pollinated, high-quality fresh products to meet the growing consumer demand for locally grown fresh produce.
Contact Information
For further information, please contact:
George Hatzoglou, Chief Financial Officer
Phone: +1-416-551-5015
E-mail: info@greenrisefoods.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. Green Rise undertakes no obligation to update any such forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on any such forward-looking statements. Green Rise undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Green Rise or their respective financial or operating results or (as applicable), their securities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276220
SOURCE: Green Rise Foods Inc.
