AUSTIN, Texas, February 11, 2022–(BUSINESS WIRE)–Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB), a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance abuse (the “Company” or “Anebulo”), today announced financial results for the three months ended December 31, 2021 and recent updates.

Highlights from the fiscal year 2022 second quarter and recent weeks include the following:

• Initiated a Phase 2 proof-of-concept clinical study to investigate ANEB-001 as a potential treatment for acute cannabinoid intoxication. The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled study at the Centre for Human Drug Research in, Leiden, the Netherlands to evaluate ANEB-001 in the inhibition of THC-induced effects. The Company expects topline results to be available in the first half of calendar year 2022.

• Participated in a pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) during which the company received guidance regarding the clinical development of ANEB-001 in the United States. The FDA noted that a challenge model whereby subjects are exposed to THC in a controlled clinical setting, as an essential alternative to patient studies, may be acceptable. FDA also suggested we submit a model-informed drug development (MIDD) paired-meeting request, potentially allowing for more frequent contact with the FDA to improve our path to clinical development and intended registration.

• Named Simon Allen as Chief Executive Officer and a member of the Board of Directors. Mr. Allen joined Anebulo on February 1, 2022. Previously he served as Chief Business Officer of Ambrx Biopharma Inc., where he helped prepare and conclude its NYSE IPO and establishing multiple partnerships with pharmaceutical companies such as Bristol Myers Squibb, Pfizer, Merck, Eli Lilly, Astellas, BeiGene and Sino Biopharma. These partnerships generated over $270 million in non-dilutive revenue with the potential to earn over a billion dollars in future milestones plus royalties for the company. From 2016 to 2018 he was Chief Executive Officer of CohBar where he transitioned the company from preclinical to clinical, managed the listing of its shares on Nasdaq, and included the company into the Russell 2000 Index. Mr. Allen started his career in the lab at Gilead Sciences working on antiviral drugs for HIV and Influenza prior to spending over two decades in sell-side biotech business development at companies such as Skyepharma, CovX and Kalypsys.

• Appointed Scott L. Anderson as Head of Investor Relations and Public Relations. Mr. Anderson joined Anebulo on January 1, 2022 and is responsible for Anebulo’s global investor relations and public relations programs. With more than 20 years of public company IR and PR experience, Mr. Anderson continues to enhance the Companies outreach programs while managing investor and corporate relationships. Mr. Anderson began his career in similar capacities at companies such as Qualcomm, Qorvo (formerly RF Micro Devices), Actavis plc (formerly Watson Pharmaceuticals) and O2Micro International.

• Issued U.S. method-of-use patent for ANEB-001. The Company strengthened its intellectual property with the issuance of U.S. patent No. 11,141,404, titled “Formulations And Methods For Treating Acute Cannabinoid Overdose.” The patent provides protection through 2040 and describes the use of ANEB-001 to treat acute cannabinoid overdose.

Management Commentary

“I am thrilled to join the Anebulo team at such an exciting time in the company’s development. There is a significant and pressing need to treat acute cannabinoid intoxication as hospital emergency department visits for this condition reached 1.7 million in 2018 and continue to increase by approximately 15% annually as more states legalize the use of marijuana,” stated Simon Allen, Chief Executive Officer of Anebulo. “In January, we announced the initiation of our Phase 2 clinical study of ANEB-001 in the Netherlands and expect to report topline results in the first half of this year, an important step in achieving our goal of developing the first FDA-approved therapy for acute cannabinoid intoxication.”

Second Quarter Fiscal 2022 Financial Results

• Operating expenses in the second quarter of fiscal 2022 were $1.1 million compared with $0.3 million in the same period in fiscal 2021.
• Net loss in the second quarter of fiscal 2022 was $1.1 million, or $(0.05) per share, compared with a net loss of $0.3 million, or $(0.03) per share, in the second quarter of fiscal 2021.
• Cash burn in the second quarter of fiscal 2022 was $1.2 million compared with $0.4 million in the same period in fiscal 2021.
• Cash and cash equivalents were $18.0 million as of December 31, 2021.

About Anebulo Pharmaceuticals, Inc.

Anebulo Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance abuse. Its lead product candidate, ANEB-001, is intended to reverse the negative effects of acute cannabinoid intoxication within one hour of administration. ANEB-001 is a competitive antagonist at the human cannabinoid receptor type 1 (CB1). For further information about Anebulo, please visit www.anebulo.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, along with terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” and other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Anebulo Pharmaceuticals and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including risks attendant to developing, testing and commercializing the company’s product candidates, and those described in Anebulo Pharmaceutical’s most recent annual report on Form 10-K and in other periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Anebulo Pharmaceuticals undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Contacts

Anebulo Pharmaceuticals, Inc.
Scott Anderson
Head of Investor Relations and Public Relations
(858) 229-7063
[email protected]

Rex Merchant
Chief Financial Officer
(512) 598-0931
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Lowell Reports 37% sequential growth in revenue driven by large cultivation yields advances and strong growth in demand for the Lowell branded products

SALINAS, Calif., Aug. 16, 2021 (GLOBE NEWSWIRE) — Lowell Farms Inc. (the “Company”) (CSE: LOWL; OTCQX: LOWLF), a California-born innovator in cannabis cultivation and maker of the legendary brand Lowell Smokes, announced revenue and operating results for the second quarter (ended June 30, 2021). All figures stated are in US Dollars and are on a US GAAP basis.

Second Quarter Financial Highlights:

• Revenue generated for the three-month period ended June 30, 2021 was $15.2 million; an increase of 53% from Q2 2020 and an increase of 37% over the preceding quarter.
• Gross margin was 38% compared to negative margin of 13% in both the second quarter of last year and Q1 2021.
• Operating loss of $473 thousand compared to operating loss of $4.8 million and $5.7 million in Q2 2020 and Q1 2021, respectively.
• $2.6 million insurance recovery associated with plant stress incurred in 2020.
• Net income of $731 thousand compared to net loss of $8.8 million and $6.7 million in Q2 2020 and Q1 2021, respectively. The current quarter includes proceeds from insurance claims of $2.6 million.
• Adjusted EBITDA for the three-month period ended June 30, 2021, was $740 thousand, which excludes insurance claim proceeds, compared to negative adjusted EBITDA of $7.2 million in Q2 2020. See “Use of Non-GAAP Financial Information” below.

Our Flower production at the greenhouse ramped steadily during the quarter and we exceeded our guidance of 8,500 to 9,000 lbs during the quarter by a healthy margin at 9,553 lbs, a 102% increase over the preceding quarter. Additionally, our plan to restore the Lowell brand to health was met with success during the quarter.

“We have a lot to be proud of, but I am particularly excited about the continued progress we are making at the cultivation level,” says Lowell Farms Inc. Chief Executive Officer Mark Ainsworth. “We have spent a good portion of Q2 dialing in our automated environmental systems to continue to reach increased yields and potencies and right now we are collecting important data to provide the optimal conditions for each particular genetics. This is an exciting phase and we look forward to reporting back to you on our learnings and improvements as well as the positive impacts on our annual harvest run rate.”

Operational Highlights and Ongoing Initiatives in 2021:
The Company’s focus and strategic planning of key initiatives continue to drive sustainable profitable growth, with top priorities on its cultivation facilities, improving operational efficiency, and refinement of biological assets.

Subsequent events to the fiscal second quarter June 30, 2021:

• Lowell Farms Celebrates Its Highest Ever Quarterly Harvest Yields With the Release of Preliminary Harvest Report, July 07, 2021

• Lowell Farm Services Begins Processing Third-Party Cannabis at New Salinas Facility, July 20, 2021

• Ascend to Bring Lowell Smokes to Illinois, August 04, 2021

• Cultivation Quality and Efficiency:
  • As the Company continues to evaluate its cultivation processes, refine genetics, and enhance facilities and systems, the focus has been on fine tuning all systems in order to continue to improve the output.
    • Lowell Farms saw its flower production at the greenhouse ramped steadily during the quarter, exceeding guidance of flower product for a total of 9,714 lbs during the quarter in comparison to 4,724 lbs in Q1 2021 and 4,159 lbs in Q2 2020.
    • The Company harvested 40.5 rooms in Q2 2021; in contrast to the 36 rooms harvested in Q1 2021 and 18 rooms in Q2 2020.
    • The average turn time for a flowering room has improved and is now at 64 days in Q2 2021 compared to 74 days in Q1 2021 and 90 days in Q2 2020.

• • The portfolio of strains coming from the newly improved cultivation and as a direct result of the upgrades to the electrical, mechanical, and environmental systems have consistently tested higher THC potency.
    • These upgrades resulted in an increased potency of 22.47% in Q2 2021 compared to 21.4% in Q1 2021 and 19.4% in Q2 2020.

• Cultivation Tech, Infrastructure, and Labor Efficiencies:
  • Argus programmed for self-preservation mode to counteract the impact of wildfires.
  • The Company purchased a Mobius Sorter in Q2 to reduce labor cost and improve timing.
  • Plant nutrition was switched from manual top-feed to liquid feeding through Roots Talk system.

• Lowell Farm Services
  • Lowell Farms commissioned first-of-its-kind cannabis processing facility in Salinas Valley and started accepting orders on July 20, 2021
    • The 10-acre, 40,000 sq ft processing facility will provide drying, bucking, trimming, sorting, grading, and packaging operations for up to 250,000 lbs. of wholesale cannabis flower annually.
    • The facility is centrally located in the Salinas Valley with several million square feet of cultivation canopy within a few miles.
    • The facility currently includes eight environmentally-controlled, segregated drying rooms, each capable of accepting in excess of up to 30,000 pounds of wet cannabis plant material per month.
    • In the facility’s bucking and trimming area, there is a combination of mechanized and hand trimming services.

• Owned Core Brands:
  • Lowell Herb Co
    • Sales of Lowell branded products generated revenue of $5.8 million in the second quarter which was the first full quarter of brand ownership.
    • Lowell Herb Co. has been introduced to approximately 399 new accounts YTD with a positive reception from the market upon the introduction of Lowell products, made with flower grown at our greenhouse.
• Distribution and Sales Capabilities:
  • With the high desirability with the Lowell brand, dispensary partners that have been previously ordering legacy products have now added Lowell products to their orders and vice versa.
    • The average delivery drop has increased by 46.5% from Q1 2021 to Q2 2021 and the average per route has increased 49.7% in the same period.

“We have a lot to look forward to, and despite the headwinds we anticipate encountering from decline in bulk sales and the compression in the market,” said George Allen, Chairman of the Board for Lowell Farms. “Our strategy is to offset revenues with our increased cultivation output and the launch of our new LFS business unit which is ramping quickly to incredibly high demand.

“We are also seeing extremely positive results from our expansion to Illinois and we are on track to launch Massachusetts later this quarter. We fully expect to add more markets in the near future. In California, we are positioning Lowell to be successful in an incredibly competitive operating environment and I am incredibly encouraged by the numbers coming out of our cultivation.”

Q2 Financial Results Earnings Conference Call Details:
The conference call with management at 5:30 p.m. ET on Monday, August 16, can be accessed using the following dial-in information:

Please dial-in at least 10 minutes before the call to register.

The conference call will be webcast live and archived on the investor relations section of the Lowell Farms website at https://ir.lowellfarms.com/.

ABOUT LOWELL FARMS INC.
Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF)(the “Company”) is a California-based vertically-integrated cannabis company with advanced production capabilities supporting every step of the supply chain, including cultivation, extraction, manufacturing, brand sales, marketing, and distribution. Lowell Farms grows artisan craft cannabis with a deep love and respect for the plant, and prides itself on using sustainable materials – from seed to sale – to produce an extensive portfolio of award-winning originals, including Lowell Herb Co, Cypress Cannabis, MOON, and Kaizen Extracts, for licensed retailers statewide.

Lowell Farms Inc. Media Contact

Renata Follmann
[email protected]

Lowell Farms Inc. Investor Relations Contact
Bill Mitoulas
416.479.9547
[email protected]

Lowell Farms Inc. Company Contact
Mark Ainsworth
[email protected]

Forward-Looking Information and Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved.” The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of the Company to successfully achieve its business objectives, including as a result of the described acquisition, and expectations for other economic, business, and/or competitive factors. There can be no assurance that such forward-looking information and statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information and statements. This forward-looking information and statements reflect the Company’s current beliefs and are based on information currently available to the Company and on assumptions the Company believes are reasonable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; operating and development costs; competition; changes in legislation or regulations affecting the Company; the timing and availability of external financing on acceptable terms; the available funds of the Company and the anticipated use of such funds; favorable production levels and outputs; the stability of pricing of cannabis products; the level of demand for cannabis product; the availability of third-party service providers and other inputs for the Company’s operations; lack of qualified, skilled labor or loss of key individuals; and risks and delays resulting from the COVID-19 pandemic. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents, such as the Company’s annual information form filed on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed, or accepts responsibility for the adequacy or accuracy of, the content of this news release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

WINNIPEG, Manitoba, Aug. 16, 2021 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”), is pleased to announce financial and operating results for the three-month and six-month period ending June 30, 2021.

Financial Highlights for the three-month period ending June 30, 2021

• Net revenue of $16.75 million for the second quarter of 2021, an increase of 29%, from $13.0 million for the same quarter last year.
  • Sequential net revenue increased 27% versus $13.2 million for the three-month period ending March 31, 2021
• Gross profit of $4.9 million for the second quarter of 2021, an increase of 25%, from $3.95 million for the same quarter last year.
• Net loss from operations of $(0.8) million for the second quarter of 2021 versus a loss from operations of $(0.2) million for the same quarter last year.
• Adjusted EBITDA of $1.2 million for the second quarter of 2021 versus an adjusted EBITDA of $0.05 million for the same quarter last year.
• The Company reported a loss per share of $0.01

Financial Highlights for the six-month period ending June 30, 2021

• Net revenue of $29.98 million for the first six months of 2021, an increase of 21%, from $24.8 million for the same period last year.
• Gross profit of $8.6 million for the first six months of 2021, versus $8.5 million for the same period last year.
• Net loss from operations of $(4.0) million for the first six months of 2021 versus a net income from operations of $1.9 million for the same period last year.
• Adjusted EBITDA of $1.2 million for the first six months of 2021 versus an adjusted EBITDA of $1.17 million for the same period last year.

“I am very proud of our results this quarter, with record top line revenues and our seventh consecutive quarter of positive Adjusted EBITDA.” said John Arbuthnot, CEO of Delta 9. “We will continue to advance our bricks and mortar and online retail business strategy. We will add new micro cultivation partners with strategic cooperation agreements that provide for a variety of services and expand our turn key Grow Pod sales into the US market. These activities are clear indicators highlighting the strength of our operations and our management team’s ability to outperform in challenging markets.”

2^nd Quarter Operational Highlights

• Delta 9 announced that its strategic partner Oceanic Releaf Inc. was granted five new cannabis retail store licences in the province of Newfoundland and Labrador from the Newfoundland Labrador Liquor Corporation (NLC). Delta 9 owns a 5% equity stake in Oceanics’ production facility operations, existing retail store, and retail store expansion plans and has a 20-year supply agreement with Oceanic and the Government of Newfoundland and Labrador.
• Delta 9 presented at the Benzinga Virtual Cannabis Capital Conference on Friday, June 4, 2021 and at the Money show on May 12, 2021.
• Delta 9 opened its twelfth Delta 9 Cannabis retail store, and ninth cannabis store in the Province of Manitoba. Delta 9’s newest retail store is located in the City of Winnipeg. Delta 9 continues to make progress on its goal of having 20 stores open in 2021 across the Prairie provinces. Delta 9 will accomplish this through select strategic acquisition targets and laser focus on retail store build-outs at convenient and high traffic shopping locations. This growth strategy has been a successful part of the Company’s overall vertical integration strategy.

Summary of Quarterly Results:

1. Adjusted EBITDA is a non-IFRS measure, and is calculated as earnings before interest, tax, depreciation and amortization, share-based compensation expense, fair value changes and other non-cash items.

*Direct Production Cost per gram includes direct labour, nutrients, utilities, growing materials and supplies costs

**Total Cost per gram includes Direct Production Cost per gram plus processing labour, packaging, bottling, and labelling costs

A comprehensive discussion of Delta 9’s financial position and results of operations is provided in the Company’s Management Discussion & Analysis for the three-month and six-month period ending June 30, 2021 filed on SEDAR on August 16, 2021 and can be found at www.sedar.com.

2021 Second Quarter Results Conference Call

A conference call to discuss the above results is scheduled for August 16, 2021, pre-market. The conference call will be hosted that day at 9:00 a.m. Eastern Time by John Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial Officer, followed by a question-and-answer period.

For more information contact:

Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-mail: [email protected]

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “DLTNF”. For more information, please visit www.delta9.ca.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to: (i) the Company’s plans to establish a chain of cannabis retail stores across Canada; and (ii) the anticipated production capacity of the Company’s planned cannabis processing center. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including all risk factors set forth in the annual information form of Delta 9 dated March 31, 2021 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Reports Top Line Year Over Year Quarterly Revenue Growth of 131%

SANTA ANA, Calif., Aug. 16, 2021 (GLOBE NEWSWIRE) — Unrivaled Brands, Inc. (OTCQX: UNRV) (“Unrivaled” or the “Company”), a multi-state vertically integrated company focused on the cannabis sector with operations in California, Oregon, and Nevada, today reported its financial results for the quarter ended June 30, 2021.

Frank Knuettel, Chief Executive Officer of Unrivaled Brands stated, “On the operations side, we have continued to make improvements and see gains in our existing operations. With revenues of $6.3 million in the second quarter of 2021, we recorded our largest quarter of revenues since the fourth quarter of 2019, registering quarterly revenue growth of approximately 131% compared to the same period of 2020.

“As part of this revenue growth, we continue to see consistent month over month revenue gains at both of our dispensaries. Since we reopened our Oakland facility in October 2020, we have seen average monthly sales growth of 12.0% per month and in April, recorded the highest revenue month at our Oakland dispensary since February 2020. Similarly, at our San Leandro dispensary, since we reopened in July 2020, we have seen average monthly sales growth of 7.0% per month, and in April, we recorded the highest revenue month at our San Leandro dispensary since December 2019.”

Knuettel continued, “On the other side of the ledger, we continue to review our operations and drive appropriate cost reductions, and at the same time, feel that we have largely cleared out the historical operational excesses.

With the sale of our investment in Hydrofarm, we added approximately $40 million to our balance sheet, without dilution. We previously entered into a definitive agreement to sell our non-operating N. 4^th Street property in Las Vegas, which closed after the end of the quarter, netting the Company approximately $825k in early August. In addition, the sale removed ongoing carrying costs associated with its ownership, including the repayment of a $1.6 million mortgage.

I believe our most challenging days now lay behind us and with the now closed merger with Unrivaled Brands, we remain focused on building Unrivaled in a focused and coherent manner, with an eye towards our shareholders. We have been working hard and diligently towards this goal, and while much work remains, I firmly believe the pieces are coming together.”

Financial Update

• Our gross profit for the quarter ended June 30, 2021 was approximately $2.3 million, compared to a gross profit of approximately $1.2 million for the quarter ended June 30, 2020, an increase of $1.1 million. Our gross margin for the 2^nd quarter of 2021 was approximately 37.3%, compared to approximately 46.1% for the 2^nd quarter of 2020.
• Our Selling, general and administrative expenses for the second quarter of 2021 were approximately $6.2 million, compared to approximately 6.3 million for the second quarter of 2020, a decrease of $91k or 1.4%.
• We reported a net loss of $4.1 million, or $0.02 per share, for the 2021 fiscal year second quarter; compared to a net loss of $18.2 million, or $0.10 per share for the second quarter of 2020.
• We had $40.3 million in cash as of June 30, 2021.

The Company will host a conference call at 4:30 p.m. Eastern Time on Monday, August 16, 2021 to discuss its financial results and business highlights.

Interested parties may listen to the call by dialing:

Toll-Free: 1-877-300-8521

Toll / International: 1-412-317-6026

Conference ID: 10159162

The conference call will also be available via a live, listen-only webcast and can be accessed through the Investor Relations section of Unrivaled Brands website at www.unrivaledbrands.com

Securities Disclosure

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of the Company’s securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Unrivaled Brands

Unrivaled Brands is a multi-state vertically integrated company focused on the cannabis sector with operations in California, Oregon, and Nevada. In California, Unrivaled Brands operates three dispensaries, a state-wide distribution network, company-owned brands, and a cultivation facility, and has two additional cultivation facilities and a dispensary under development. In Oregon, we operate a state-wide distribution network and company-owned brands. In Nevada, by way of a joint venture, Unrivaled Brands operates a cultivation and manufacturing facility. Unrivaled Brands is home to Korova, the market leader in high potency products across multiple product categories, currently available in California, Oregon, Arizona, and Oklahoma, as well as Sticks and Cabana.

For more info, please visit: https://unrivaledbrands.com.

Cautionary Language Concerning Forward-Looking Statements

Certain statements contained in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These include statements regarding management’s intentions, plans, beliefs, expectations, or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Terra Tech undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. We use words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors.

New factors emerge from time-to-time and it is not possible for us to predict all such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. These risks, as well as additional risks and uncertainties we face, are identified and more fully discussed in the “Risk Factors” section of Terra Tech’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. Forward-looking statements included in this release are based on information available to Terra Tech as of the date of this release. Terra Tech undertakes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this release.

Contact
Jason Assad
LR Advisors LLC.
[email protected]
678-570-6791

For media inquiries:
Nic Johnson
Russo Partners
[email protected]
303-482-6405

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, BC / ACCESSWIRE / July 30, 2021 / Citizen Stash Cannabis Corp. (Formally Experion Holdings Ltd.) (the “Company” or “Citizen Stash”) (TSXV:CSC)(OTCQB:EXPFF)(FRA:MB31) Canada’s solution to craft cannabis and premium products is pleased to report its second quarter financial results for the period ended May 31, 2021.

“Our year-to-date sales for the first six months of 2021 represent a more than 250% increase over the first six months of the previous year. This accomplishment further validates the production and distribution model we have established over the year and coupled with the retail success of our Citizen Stash premium brand, positions the Company for continued expansion as the market opens up over the next six months. Additionally, COVID-19 continues to have an impact on the retail market with many provincial exchanges mandating inventory caps, smaller orders, and receiving delays. Notwithstanding the consumer demand for our Citizen Stash products, we were not immune to these constraints, the impacts of which resulted in decreased sales opportunities as we exited Q1 2021. The Canadian cannabis industry continues to face challenges caused by price compression and inventory rationalization at both the provincial and retail dispensary level, however, we remain convinced that the investments we’ve made in building one of the top premium brands in the country positions us for strong growth going forward.”, commented Mr. Jarrett Malnarich, CEO of Citizen Stash.

“Our unique business model gives us flexibility to ramp up quickly despite ongoing challenges presented within the industry. In addition, our business strategy and model continues to demonstrate its effectiveness as we gained significant market penetration across the country compared to last year and we continue to expand shelf space, gaining new SKUs every quarter as our brand continues to lead in the premium space.”

Key Financial and Corporate Highlights:

In the second quarter ending May 31, 2021, Citizen Stash continued to execute on its corporate strategy and advance its ‘aggregation and distribution’ model driving shareholder value as illustrated by the following milestones and initiatives:

• Gross revenueincreased 92% in Q2 2021 to $3.3 million compared to $1.7 million in Q2 2020.
• To ensure better alignment of the consumer brand Citizen Stash and the Corporate brand identity, the Company approved a name change from Experion Holdings Ltd. to Citizen Stash Cannabis Corp.
• SKU listings increased by 35% in British Columbia, Alberta and Ontario in Q2 2021 to 38 compared to 28 in Q1 2021.
• New pre-roll listings of Fruity Pebbles OG (“FPOG”) in both British Columbia and Alberta, as well as “Chocolate Sour Diesel” and “Sundae Driver” in Alberta with expected revenues in Q3 from these listings.
• New listings for 3.5 gram jars for Alberta with new strains “Chocolate Sour Diesel”, “Sundae Driver” and FPOG.
• The Companyprocessed and sold 409,335 grams of premiumdried flower throughretail distribution in Q2 2021 compared to 190,272 in Q2 2020, a 115% increase.
• Citizen Stash’s average price per gram realized of $8.12 in Q2 2021 continues to be strong and reflect premium pricing in the Canadian market, as compared to $7.52 for Q2 2020.
• Citizen Stash signed a contract in Q2 2021 to license the Burb trademark, a cannabis retailer, and will distribute Burb branded products through the Ontario Cannabis Store. Citizen Stash will process and sell our unique strain, “BC ZAZA” in 3.5 gram jars, under the Burb brand, with sales starting in Q3.
• Signed a processing agreement with The Valens Company to outsource the production of Citizen Stash pre-rolls, supporting a lower cost of goods moving forward for pre-rolls.
• Experion is recognized as a top 20 supplier to the Ontario Cannabis Stores in total sales and volume within three months of entering the Ontario market.
• Well positioned balance sheet with a total of $13.5 million in assets and a net working capital balance (current assets less current liabilities) of $5.7 million.

Experion Holdings Ltd. Q2 2021 Financial Summary:

*1 – Net of excisetax.

*2 – Adjusted EBITDA is a non-GAAP measure used by management that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Management defines adjusted EBITDA as comprehensive loss for the period, as reported, before interest, taxes, depreciation and amortization, and adjusted by removing share-based payments, and other one- time and non-cash items, including impairment losses and inventorywrite-downs. See reconciliation of “Adjusted EBITDA”in the Company’s Management’s Discussion & Analysis for the period ended May 31, 2021.

• Gross revenueincreased 92% in Q2 2021 to $3.3 million compared to $1.7 million in Q2 2020.
• Gross revenue decreased 19% in Q2 2021 compared to Q1 2021 mainly due to COVID-19 restrictions and provincial health orders.
• In Q2 2021 the Company sold 409,335 grams of flower, which on its own represents 48% of the total grams sold for the entire fiscal year ending November 30, 2020.
• Gross profit before fair value adjustments was $0.587 million or 21% of net revenue in Q2 2021, compared to $0.298 million or 21% of net revenue in Q2 2020.
• Adjusted gross margin before fair value adjustments would have been 27%, excluding inventory and other write-downs of $0.166 million within costs of sales in Q2 2021.
• Adjusted EBITDA for Q2 2021 was $(0.495) million versus a $(0.124) million loss in Q2 2020.

Business update

Citizen Stash continues to remain focused on executing against its strategic priorities. In the second quarter of 2021, the Company made significant progress in expanding its premium supply chains, developing innovative strains and expanding its customer network generating shareholder value and accelerating its path to profit including:

Innovative Genetics and Strain development

Citizen Stash continues to launch first to market genetics and strains and expand its premium dry flower cultivar offering with the addition of new listings in British Columbia, Alberta and Ontario increasing our listings by 35% in Q2 2021 versus Q1 2021 and will begin to recognize revenues in Q3 from these efforts.

Distribution Network

Citizen Stash currently serves seven provinces and territories. Citizen Stash continues to make headway into the remaining markets including Quebec and the Maritimes. The Company expects to be in the remaining provinces by early Q4 2021 with revenues from these markets being realized upon entry.

Premium Brands

Citizen Stash is one of the leading brands in the industry, known for producing top-shelf craft cannabis flower. The Company’s focus on providing new, innovative and consistent flower offerings allows the Company to maintain above average prices for its products with a net selling price of $8.12 per gram for the three months ending May 31, 2021.

About Citizen Stash Cannabis Corp.

Citizen Stash is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, B.C.

Citizen Stash is best known as a rapidly growing adult-use premium cannabis brand offered nationally in 7 provinces and territories. Citizen Stash has invested and developed a portfolio of premium cannabis genetics, strains and products with a unique growth strategy incorporating a highly scalable aggregation and distribution business model to drive revenues across its national sales network.

Citizen Stash trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “CSC” on the OTCQB Venture under the symbol “EXPFF” and on the Frankfurt Stock Exchange under the symbol “MB31”.

For further information, please visit the Company’s website www.experionwellness.com or contact Investor Relations, Email: [email protected]

Disclosure

This news release contains “forward-looking statements” and “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of material factors, assumptions, risks and uncertainties, many of which are beyond the control of the Company.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “continues”, “future”, “forecasts”, “potential”, “outlook” and similar expressions, or are events or conditions that “will”, “would”, “may”, “likely”, “could”, “should”, “can”, “typically”, “traditionally” or “tends to” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: The Company’s capital spending forecast and expectations of how it will be funded; near-term impacts from the COVID-19 pandemic; the Company’s capital management strategy and financial position; the impact of governmental and Company measures implemented in response to the COVID-19 pandemic; the Company’s outlook, activity levels, supply chains and sales channels; loss of markets; further legislative and regulatory developments involving cannabis or otherwise affecting the Company’s business or its consumers generally, including delays in the issuance of licenses; competition; currency and interest rate fluctuations; and marketing costs.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that such statements and information will prove to be correct and such statements are not guarantees of future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: known and unknown risks, including those set forth in the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis (“MD&A”) (a copy of which can be found under Experion’s profile on SEDAR at www.sedar.com); a significant expansion of COVID-19 pandemic and the impacts thereof; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategy; integration of acquisitions, competition, and uncertainties resulting from potential delays or changes in plans with respect to acquisitions, development projects or capital expenditures and changes in legislation; stock market volatility and the inability to access sufficient capital from external and internal sources; general economic, market or business conditions including those in the event of an epidemic, natural disaster or other event; global economic events; changes to the Company’s financial position and cash flow; the availability of qualified personnel, management or other key inputs; currency exchange fluctuations; changes in political and security stability; potential industry developments; and other unforeseen conditions which could impact the Company. Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive and should refer to “Risk Factors” set out in the MD&A.

Statements, including forward-looking statements, contained in this news release are made as of the date they are given and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the 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.

SOURCE: Citizen Stash Cannabis Corp.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Second Quarter 2021 – Financial Highlights:

WINNIPEG, Manitoba, June 22, 2021 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”) is pleased to provide guidance on its revenue forecast for the three-month and six-month period ending June 30, 2021 based on preliminary results:

• The Company anticipates revenue for the three-month period ending June 30, 2021 to be between $15.5 million and $17.25 million compared with;
  • $13.23 million for the first quarter of 2021.
  • $13.01 million for the second quarter of 2020.
• Delta 9 anticipates revenues for the six-month period ending June 30, 2021 to be between $28.75 million and $30.5 million, compared to:
  • $24.76 million for the same period last year

“We anticipate our Q2, 2021 performance will demonstrate a record revenue quarter for Delta 9 with the Company’s three business segments contributing to the success of the quarter,” said John Arbuthnot, CEO of Delta 9. “We anticipate continued growth in all three of our business segments units through the back half of 2021.”

The Company will provide investors with a full breakdown of revenue and financial results as part of it’s Financial Statements and Management Discussion and Analysis for the three-month and six-month period ending June 30, 2021. A news release on the financials will be issued on August 16, 2021, before the stock market opens. This will be followed by a conference call the same morning, the details of which can be found at the end of this release.

The preliminary estimated revenues for the three-month and six-month period ended June 30, 2021 set forth above are subject to the completion of the Company’s financial closing procedures. These preliminary estimated financial results have been prepared by and are the responsibility of the Company’s management.

The Company currently expects that its final results for revenue will be consistent with the estimates set forth above, but such estimates are preliminary and the Company’s actual results of operations and other data could differ materially from these estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between now and the time such consolidated financial statements for the period ended June 30, 2021 are issued.

2021 Second Quarter Results Conference Call

Delta 9 will release the results for the second quarter of 2021 on August 16, 2021 before the market opens. A conference call to discuss the above results is scheduled for the morning of August 16, 2021, pre-market. The conference call will be hosted that day at 9:00 a.m. Eastern Time by John Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial Officer, followed by a question-and-answer period.

For more information contact:

Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile : 204-898-7722
E-mail: [email protected]

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The Company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “DLTNF”. For more information, please visit www.delta9.ca .

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to Delta 9’s financial results for the quarter ended June 30, 2021. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the Company’s actual financial results being different from its estimates as well as all risk factors set forth in the annual information form of Delta 9 dated March 31, 2021 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.