Toronto, Ontario–(Newsfile Corp. – April 30, 2026) – Green Rise Foods Inc. (TSXV: GRF) (“Green Rise” or the “Company”) is pleased to release its consolidated financial results for the year ended December 31, 2025.
The complete 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 year ended December 31, 2025:
- Year-over-year revenue increase of 5.5% to CDN $31.9 million.
- Adjusted EBITDA, when excluding Government Grants and special programs, for the year decreased to CDN $4.9 million vs $5.2 million for the year ended December 31, 2024.
- The Company was not in compliance with its annual fixed charge coverage ratio. The Company is required to provide a proposal for remediation by May 31, 2026, to its lender, the Royal Bank of Canada.
2026 Crop Update:
- The 2026 season is progressing well and on schedule. Challenges in weather (lower light levels as compared to the same period in 2025) have been offset by elevated market prices for beef steak and bell peppers.
“A colder winter, excessive heat waves in late June, mid July, and early to mid-August and higher costs associated with extending the harvesting season were the primary factors resulting in lower Adjusted EBITDA. Higher yields that were expected to materialize in the forth quarter of 2025 did not despite our teams working diligently to extract maximum value from our crops. Large investments in CAPEX, which will benefit future years were also key factors accounting for the shortfall adversely impacting the annual fixed charge coverage ratio. Our Teams, led by George Hatzoglou the CFOO and Abe Schmitt the Company’s VP Operations, were very successful in the 2025 clean-out and planting of the 2026 crop,” 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 and Operating 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.
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