SEATTLE, April 30, 2021 (GLOBE NEWSWIRE) -- Wikileaf Technologies Inc. (the “Company”) (CSE: WIKI) announces its financial results for the 2020 fiscal year. For complete details of the consolidated audited financial statements and accompanying management’s discussion and analysis for the year ended December 31, 2020, please see the Company’s filings on SEDAR at www.sedar.com

The Company advanced several key initiatives in 2020, including the removal of a significant financial liability with its former parent company, restructuring and streamlining of operations resulting in significantly lowering operating expenses and completing a strategic financing for go-forward efforts.

Operational and Financial Highlights

• Debt settlement Agreement resulting in the removal of $3.0 million in outstanding debt.
  
  
• Financial Results: Net loss of $3.7 million for 2020, down -57% from 2019.
  
  
• Company Restructuring: Operating expenses of $3.7 million for 2020, down -57% from 2019.
  
  
• Financing: During the first quarter of fiscal year 2021, the Company successfully raised $1.25 million in equity financing.
  
  
• Average Monthly Traffic: 1.09 million for 2020, down 10.3% from 2019.
  
  
• Average Monthly Page Views: 2.66 million for 2020, up 21.7% from 2019.
  

About Wikileaf

Wikileaf (www.wikileaf.com) is an online platform to empower cannabis enthusiasts and consumers.

Forward-Looking Information

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the Company’s monetization strategies and 2020 goals. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s business, the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward looking information represents managements’ best judgment based on information currently available. No forward looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Stay Connected
For more information about Wikileaf, please visit www.wikileaf.com, or follow us on Twitter @Wiki_Leaf, Instagram @realwikileaf, Facebook @Wikileaf and YouTube Wikileaf.

Contact Information

Invest Contact:
investors@wikileaf.com

Media Contact:
press@wikileaf.com