Author: Katie Yigitoz

Vancouver, BC, October 17, 2023 – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company” or “YourWay“) announces today, that in mutual agreement with Jacob Cohen, Mr. Cohen will resign from his position as President of Arizona operations of YourWay, effective immediately. Mr. Cohen will continue to serve as a member of the Company’s board of directors.

Mr. Cohen’s contributions to the Company during his tenure have been acknowledged and appreciated. YourWay wishes him the best in his future endeavors. 

“We understand and respect Jacob Cohen’s decision to resign from his role within the Company,” said Jakob Ripshtein, acting Chief Executive Officer of the Company.  “YourWay remains committed to its mission of delivering value to our shareholders and stakeholders.”

YourWay will continue its dedication to transparency, regulatory compliance, and its mission to redefine the cannabis industry through innovation and quality. 

In light of Jacob Cohen’s transition, YourWay is evaluating the overall reporting structure for enhanced effectiveness and efficiency of the Company’s Arizona operations.

About YourWay Cannabis Brands Inc.:

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners’ control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact. 

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing House of Brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant.

Please visit www.yourwaycannabis.com or follow us on X (formerly Twitter) at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

YourWay Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding:  the Company’s continued dedication to transparency, regulatory compliance, and its mission to redefine the cannabis industry; the Company’s evaluation of its reporting structure and the expected outcome on the Company’s Arizona operations; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. 

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

VANCOUVER, BC, October 16, 2023 /CNW/ – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company”) is pleased to announce the scheduling of its annual general meeting (the “AGM”) of shareholders of the Company (the “Shareholders”). The AGM is set to take place on Friday, December 15, 2023, at 1:00 p.m. (EST). 

Additional information on how to sign up, attend and participate in the AGM will be communicated to all Shareholders and stakeholders of the Company in the upcoming weeks. 

The Company will provide information, including the official agenda and guidelines for the participation of registered Shareholders and duly appointed proxyholders, through its official communication channels and website.

About YourWay Cannabis Brands:

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners’ control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing House of Brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. 

Please visit www.yourwaycannabis.com or follow us on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

YourWay Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the anticipated timing and occurrence of the AGM; the communication of details regarding how to sign up, attend and participate in the AGM; and the official agenda and guidelines for the participation of registered Shareholders and duly appointed proxyholders in the AGM. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. 

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, October [4], 2023 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE: HOB) (the “Company” or “YourWay“), a consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, announces the receipt of a complaint against the Company. 

Trulieve Cannabis Corp., Harvest Health & Recreation, Inc., and Randy Taylor Consulting, LLC (collectively, the “Plaintiffs”) filed a verified complaint in the Arizona Superior Court, Maricopa County, against, among others, the Company, Labtronix, Inc., d/b/a Venom Extracts and YourWay Cottonwood, LLC (collectively, the “Defendants”).The Plaintiffs claim that the Defendants, their related entities and employees, participated in unlawful kickback schemes to the detriment of the Plaintiffs.  

While the Company has not yet filed a response to the complaint, the Company’s current management team is working to investigate the claims as the alleged misconduct occurred prior to the tenure of the current management team. YourWay does not currently make any payments of the type alleged in the complaint. Once the Company’s board of directors has authorized a proposed course of action, the Company will provide stakeholders with a further update. 

About YourWay Cannabis Brands

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners’ control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing House of Brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. 

Please visit www.yourwaycannabis.com or follow us on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the current management team’s investigation of the claims; the Company’s commitment to provide a further update to stakeholders once the Company’s board of directors has authorized a proposed course of action;and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. 

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, August 15, 2023 – YourWay Cannabis Brands Inc. (CSE: YOUR)(OTC: YOURF)(FSE: HOB) (the “Company” or “YourWay”), a leading consumer-centric House of Brands, is pleased to announce the appointment of Semple, Marchal & Cooper, LLP as its new auditor effective August 11, 2023. With a four-decade track record of professional service, Semple, Marchal & Cooper, LLP is a reputable Certified Public Accounting firm in the Southwest of the United States. Their expertise in accounting, auditing, tax planning, compliance, and management consulting complements YourWay’s focus on robust financial governance.

“We have carefully chosen Semple, Marchal & Cooper, LLP as our new auditor to reinforce our commitment to accountability and transparency,” says Jakob Ripshtein, the Acting CEO of YourWay. “This partnership marks a significant step forward, and we look forward to working together to strengthen our financial reporting processes.” 

YourWay is dedicated to working diligently with Semple, Marchal & Cooper, LLP to complete the audit for the financial years ended December 31, 2021 (“FY21”) and December 31, 2022 (“FY222”) efficiently. This marks the first step in advancing toward the Company’s goal of re-listing on the Canadian Securities Exchange (“CSE”). After finalizing the FY21 and FY22 audit and filing the audited financial statements for FY21 and FY22 on SEDAR along with the unaudited financial statements for the Company for the quarters ended subsequent to FY22, YourWay will apply for the revocation of the general “failure to file” cease trade order dated May 9, 2022, issued through the British Columbia Securities Commission and the Ontario Securities Commission, in accordance with National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company looks forward to re-establishing its presence on the CSE and reaffirming its commitment to providing value to its shareholders and stakeholders.

“We extend our gratitude to our shareholders for their continued support,” adds Mr. Ripshtein. “With Semple, Marchal & Cooper, LLP by our side, we are well-positioned to navigate the path ahead and strengthen our position in the Arizona cannabis market.”

YourWay looks forward to the positive impact of this engagement, fostering trust and confidence among its shareholders.

The board of directors of the Company (the “Board”) and the audit committee of the Company (the “Audit Committee”) each approved the appointment of Semple, Marchal & Cooper, LLP as the auditor of the Company, effective August 11, 2023 until the close of the next annual meeting of the shareholders of the Company or until its successor is appointed. The Notice of Change of Auditor was approved by the Board and in accordance with National Instrument 51-102 – Continuous Disclosure Obligations, the Notice of Change of Auditor, together with the required letter from Semple, Marchal & Cooper, LLP as the Company’s new auditor, will be reviewed by the Audit Committee and Board and filed on SEDAR. 

About YourWay Cannabis Brands Inc.

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners’ control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry, and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely align with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. 

Please visit www.yourwaycannabis.com or follow us on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: reinforcing the Company’s commitment to accountability and transparency; strengthening the Company’s financial reporting processes; completion of the FY21 and FY22 audit and filing of the audited financial statements for FY21 and FY22 on SEDAR along with the unaudited financial statements for the Company for the quarters ended subsequent to FY22; re-listing on the CSE; the Company’s intention to apply for the revocation of the cease trade order; re-establishing the Company’s presence on the CSE and reaffirming the Company’s commitment to providing value to its shareholders and stakeholders; strengthening the Company’s position in the Arizona cannabis market; the anticipated positive impact of the engagement ofh Semple, Marchal & Cooper, LLP; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in consumers demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, June 2, 2023 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay”), reminds the shareholders of the Company (the “Shareholders“) about the upcoming Operational Update Forum to be held on June 6, 2023 at 2:00 pm EST and provides updated dial-in details.

Shareholder Forum Webcast Details

On Tuesday, June 6, 2023 at 2:00 pm EST, Acting Chief Executive Officer, Jakob Ripshtein, will host an online and dial-in forum exclusively for YourWay’s shareholders. The forum will consist of prepared remarks followed by a question and answer session related to the Company’s operational update.

The agenda for the forum will include updates on the following:

• The status of our audit, providing context for the delay in filing our financial statements
• The status of our cease trade order
• The status of our House of Brands strategy
• Recent product innovation
• Financial performance update
• New hires who are leading our effort to advance our strategy

Details of the webcast and dial-in:

• Webcast attendees can pre-register at the following link: https://app.webinar.net/mlJwOdv2RL7
• For individuals who cannot attend the webcast, dial-in access will be available using the following updated phone numbers:
  • Local: 416-764-8609 (updated)
  • North American Toll-Free: 888-390-0605 (updated)

We encourage all shareholders to participate and engage with us during this forum.

About YourWay Cannabis Brands Inc.

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely align with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. 

Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the shareholder forum to be held on June 6, 2023 at 2:00pm EST and the agenda for the updates to be provided at such forum; the role of the new hires in advancing the Company’s strategies; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in consumers demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, May 26, 2023 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay”), a leading consumer-centric House of Brands committed to redefining the cannabis industry, is providing an operational update and announces the launch of a shareholder forum webcast to be held on June 6, 2023 at 2:00 pm EST. The updates to be provided include details of the initiatives being taken to address the delays in releasing the Company’s audited annual financial statements for the year ended December 31, 2021, and December 31, 2022, financial highlights to date, product launches, and a talent update.

Auditor Update

The Company continues its efforts to engage a suitable auditor, despite facing challenges in identifying an appropriate firm. Since the resignation of Macias Gini & O’Connell LLP (“MGO”) effective December 6, 2022, the Company has been actively searching for an auditor to retain. Given that YourWay is a Canadian public company, the auditor needs to be registered with the Canadian Public Accountability Board to be able to accept an engagement.  To date, we have contacted 31 firms to gauge their interest in the engagement. Unfortunately, many firms we spoke with indicated an unwillingness to accept the engagement for the reasons MGO resigned, as described in our press release dated December 20, 2022. Other reasons cited by firms included capacity constraints or their policies of not working with cannabis companies in the United States based on federal cannabis laws. We want to reassure our stakeholders that we remain committed to finding an auditor, and our search is ongoing.

Financial Highlights 

The market conditions in Arizona have softened considerably, impacting our sales levels. As a result, we have taken proactive measures to address these challenges. We have reviewed and adjusted our cost structure, increased our commitment to our sales force, collaborated with suppliers to improve pricing, and implemented strategies to conserve cash. It is important to note that we do not carry any non-supplier debt. However, we are experiencing difficulty collecting a significant amount owed to the Company by one customer.

Revenues continue to be challenged, primarily driven by the shift in market conditions that led us to engage in opportunistic bulk distillate sales.  In fiscal 2021, distillate sales represented approximately 50% of the Company’s sales, which declined throughout fiscal 2022 due to significant price pressures, margin compression, and the downward trend in biomass pricing.  We continue to work on solutions internally and with partners to provide a low-cost alternative to compete with the influx of cheaper bulk material in the marketplace.

In fiscal 2022, sales of our butane products, including our flagship shatter category, declined by about 40% but remains our highest-performing category.  In addition, sales of our vape cartridges dropped by approximately 19% in fiscal 2022 as compared to fiscal 2021. The overall sales decline in our branded products results from the large multi-state operators vertically integrating their operations to offer more of their own branded products.  As a result, the Company has shifted to offer a mixed balance of white-label and branded products, as we believe there is opportunity in both categories.

Given the continued challenge in sales, the focus has been to invest in innovation, acquire talent, pay down significant vendor payables built up through the second quarter of fiscal 2022, and focus on cost reduction measures.  The Company implemented pricing guardrails, minimizing the number of low-margin sales, mitigated the costs of contracts entered into during previous years that are no longer viable and has entered into new supply arrangements that will reduce the cost of goods sold in fiscal 2023. 

Talent Update

YourWay is delighted to welcome two highly talented individuals who have joined our organization. Kaiya Bercow has assumed the role of Vice President of Operations. With nearly a decade of experience in the cannabis industry and as the founder of Utopia Cannabis based in California, Kaiya brings invaluable expertise to our team.

Additionally, Vikki Doolittle has joined us as Director of Sales. With her extensive experience in sales, distribution, and the cannabis industry, including her recent role as Wholesale Sales Manager for Trulieve in Arizona, we expect Vikki will play a crucial role in restructuring our sales function and driving our sales growth.

Product Launch

We are thrilled with the successful launch of two new cannabis products under our VenomX brand in Arizona, as previously announced on April 4, 2023. The newly introduced products, Diamond-Infused Pre-Rolls and Live Resin All-in-One Vaporizers were made available to retailers in the first week of April 2023.

The Diamond-Infused Pre-Rolls represent a groundbreaking addition to our VenomX flower products, combining pure THCa diamonds with premium cannabis. In addition, the Live Resin All-in-One Vaporizers offer a 1.0g device that delivers an all-cannabis-derived experience with the combination of live resin high terpene extract and distilled cannabis oil. We are pleased with consumers’ reception of our innovative products and look forward to further expanding the reach of the VenomX brand through our dedicated marketing and innovation teams.

Shareholder Forum Webcast

On Tuesday, June 6, 2023, at 2:00 pm EST, Acting Chief Executive Officer, Jakob Ripshtein will host an online and dial-in forum exclusively for our shareholders consisting of prepared remarks followed by a question and answer session related to the Company’s operational update.

“This forum reflects our ongoing commitment to transparency and accountability in our communications with all stakeholders.” said Acting Chief Executive Officer, Jakob Ripshtein. “We value your continued support as we strive to build a stronger, more resilient company, and we are eager to share our progress with you.” 

The agenda for the forum will include:

• The status of our audit, providing context for the delay in filing our financial statements
• The status of our cease trade order
• The status of our House of Brands strategy
• Recent product innovation
• Financial performance update
• New hires who are leading our effort to advance our strategy

Details of the webcast and dial-in:

• Webcast attendees can pre-register at the following link: https://app.webinar.net/mlJwOdv2RL7
• For individuals who cannot attend the webcast, dial-in access will be provided; please use the following phone numbers:
  • Local: 416-764-8668
  • North American Toll-Free: 888-390-0561

We encourage all shareholders to participate and engage with us during this forum.

About YourWay Cannabis Brands Inc.

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely align with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. 

Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the shareholder forum webcast to be held on June 6, 2023 and the updates to be provided at such webcast; the Company’s ongoing commitment to finding an auditor; the Company’s continued efforts to provide a low-cost alternative to compete with the influx of cheaper bulk material in the marketplace; the opportunities for the Company in white-label and branded products; the Company’s expectations for a reduced cost of goods sold in 2023; the Company’s expectations regarding the new Vice President of Operations and the Director of Sales’ expected role in restructuring the Company’s sales function and driving sales growth; the Company’s expectations for the continued growth and expansion of the VenomX brand; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the launch of the new products; changes in consumers demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, April 4, 2023 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay”), a consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, is proud to announce the launch of two new cannabis products under the VenomX brand in Arizona. The new products include Diamond-Infused Pre-Rolls and a Live Resin All-in-One Vape. The products will be available for shipment to retailers in the first week of April 2023.

“We are thrilled to announce the launch of two exciting new VenomX branded products into the Arizona market,” said Jacob Cohen, YourWay’s President of Arizona Operations. “With the launch of our Diamond-Infused Pre-Roll, we are broadening the reach of the VenomX brand and our 1.0g Live Resin All-in-One Vape expands our current portfolio to meet the demands of consumers in these key categories.”

The Diamond-Infused Pre-Rolls mark the first-ever launch of VenomX flower products. It combines pure THCa diamonds with premium cannabis to provide an enhanced smoking experience for customers. Mr. Cohen emphasized, “Our hope is that the Diamond-Infused Pre-Rolls will continue delivering on what VenomX customers love, a potent cannabis brand they know and trust at an affordable price.”

In addition, the Live Resin All-in-One Vape offers an all-cannabis-derived 1.0g all-in-one device that heats the live resin high terpene extract and distilled cannabis oil to the optimal temperature for enjoying the unique terpene profiles. “When we made the decision to expand the VenomX vaporizer portfolio, we were focused on meeting consumer demand for a live resin all-in-one device,” said Mr. Cohen.

The VenomX brand is available in over sixty locations across Arizona. YourWay is committed to providing consumers with high-quality cannabis products that meet their needs, and these new products are an excellent addition to the portfolio.

About YourWay Cannabis Brands
YourWay is a publicly traded, consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.
YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.
Website: www.yourwaycannabis.com

Your Way Contacts:
For media inquiries, please contact: [email protected]
For investor inquiries, please contact: [email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the availability of the Diamond-Infused Pre-Rolls and Live Resin All-in-One Vape for shipment to retailers in April 2023; the Company’s expectation that the Diamond-Infused Pre-Roll will broaden the reach of the VenomX brand; the Company’s expectation that the Live Resin All-in-One Vape will expand the company’s portfolio to meet the demands of consumers; the Company’s expectations that the Diamond-Infused Pre-Rolls will deliver a potent cannabis brand to consumers at an affordable price; the Company’s focus on meeting consumer demand for a live resin all-in-one device; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the launch of the new products; changes in consumers demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.
The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, February 9, 2023 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay“), a consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, announced today it has terminated its contracts with two cannabis brands: Old Pal LLC (“Old Pal”); and Airo Brands, Inc. (“AIRO”).

Due to the current market conditions in Arizona, the terms of these contracts were no longer viable or attractive for the Company.  Although these brands contributed to YourWay’s sales performance for the December 31, 2022, fiscal year, the expected reduction in revenue and profitability, licensing structure and operational demands of servicing the brands did not match the return on investment and, ultimately, it is in the best interest of the parties to part ways.

With the termination of these contracts, the Company’s focus in the short term is to grow and develop its in-house brands with product innovation, including exploring white-label opportunities while expanding into other markets. The Company believes this strategy will allow it to better serve its customers and utilize its capital to provide greater shareholder returns.

YourWay’s Acting Chief Executive Officer Jakob Ripshstein said, “We have valued our partnership with Old Pal and AIRO, and we are grateful for the opportunity to have worked with them.” 

The Company will continue to work closely with Old Pal and AIRO to ensure a smooth transition for its customers.

About YourWay Cannabis Brands

YourWay is a publicly traded, consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the Company’s expectations regarding a reduction in revenue and profitability in connection with the termination of its contracts with Old Pal and AIRO; the Company’s focus on growth and development of its in-house brands through product innovation; the Company’s exploration of white-label opportunities; expansion into other markets; the Company’s exepctations regarding its growth strategy and its ability to provide greater shareholder returns; the Company’s continued efforts to work with Old Pal and AIRO to ensure a smooth transition for customers;  and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the timing for filing the Company’s financial statements; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, December 20, 2022 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay“), a consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, announced today that its auditor, Macias Gini & O’Connell LLP (“MGO”) has resigned, effective December 6, 2022. As of the date hereof, YourWay has not yet appointed a successor auditor.

In a letter provided to the Company on December 6, 2022, MGO indicated its reason for resigning was based on its inability to determine the source of cash deposited by the previous Chief Executive Officer of YourWay (the “CEO”) on three separate occasions. As per MGO’s letter, there were concerns over the inability to corroborate “that the cash came from the proceeds he received when the CEO’s former company, Labtronix, was acquired by the company.”

As part of a review of internal controls, financial reporting and governance matters in the second quarter of 2022, the Company’s new management identified certain concerns. The Company’s Audit Committee created a special committee (the “Special Committee”), led by Acting Chief Executive Officer of the Company, Jakob Ripshtein, and board member and chair of the Company’s Audit Committee, Lily Dash, to review and investigate these matters and retained Polley Faith LLP and B Riley Advisory Services (collectively, the “Investigators”)to conduct a review and independent investigation (the “Investigation”). Concurrently, the Company took steps to bolster internal controls, particularly with respect to banking, cash transactions and related party matters, including the implementation across the organization of the corporate governance policies that had been approved by the board of directors in October 2021. 

The Investigators delivered multiple reports to the Special Committee, the Audit Committee and the board and despite changes in internal procedures, the development of new policies and a supplemented authorization and approval matrix, MGO determined that it was unwilling to remain as the Company’s auditor as the Investigation could not conclude if certain of the matters identified impacted the Company’s financial statements. The Special Committee and the Company’s current management team is actively seeking a new auditor for the Company.

“It is unfortunate that after months of performing an exhaustive and comprehensive review of the Company’s financial statements, MGO has chosen to resign,” said Jakob Ripshtein. “MGO’s resignation has now set back our efforts to finalize and release our audited annual financial statements for the year ended December 31, 2021.” 

As indicated in YourWay’s operational update dated November 4, 2022, the business has undergone significant change and evolution over the past twelve months, including the appointment of a new Chief Financial Officer of YourWay in March 2022, Jacob Cohen’s resignation as CEO on September 12, 2022, and the concurrent appointment of Mr. Cohen to his new role of President of Arizona Operations.

The Company’s inability to determine the source of the cash deposited by the previous CEO on three separate occasions, including the inability to corroborate the previous CEO’s claims, constitutes a “reportable event” (as defined under Section 4.11(1) of National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”)) for the year ended December 31, 2021 for an “unresolved issue” (as defined under Section 4.11(1) of NI 51-102). 

“The Company’s board of directors has reviewed MGO’s findings to date and will act in the best interests of the Company’s shareholders” Mr. Ripshtein continued. “While this is indeed a setback in our timeline to release our financial statements, it has not impeded our ongoing operations, sales teams and our ability to satisfy the needs of our retail partners.” 

No financial statements have expressed a modified opinion during the period that MGO was first appointed by the Company and the date of this notice. As soon as a successor auditor has been appointed, the Company will file a further press release confirming such appointment. 

About YourWay Cannabis Brands

YourWay is a publicly traded, consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing House of Brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the results of the Investigation; the Company’s efforts to finalize and release its annual financial statement for the year ended December 31, 2021; the Company’s commitment to act in the best interests of its shareholders; the Company’s continued pursuit for a successor audittor; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the timing for filing the Company’s financial statements; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

Vancouver, BC, November 4, 2022 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay“), a consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, is providing an operational update, including initiatives being taken to address the management cease trade order (the “MCTO”), the delays in releasing the Company’s audited annual financial statements for the year ended December 31, 2021 (the “2021 Annual Financial Statements”), details of the Company’s newly appointed leadership team, and the Company’s expansion plans in Arizona. 

“There has been significant change and evolution in our business over the past twelve months,” said Acting Chief Executive Officer, Jakob Ripshtein. “We have overhauled the organization from top to bottom, driven by a strategic corporate transformation and renewed corporate vision.” 

The transformation began with a corporate rebrand in December 2021 from Hollister Biosciences Inc. to YourWay Cannabis Brands Inc. This update was tied directly to the Company’s revamped strategic commitment to creating intuitive brands, releasing thoughtful products, and working intentionally to create a House of Brands that caters to every moment in a consumer’s life. 

The Company is working with the auditors to finalize the 2021 Annual Financial Statements and the related management’s discussion and analysis. Due to a combination of factors, including (i) the complexity associated with a change of the Company’s auditors, which took effect on December 6, 2021; and (ii) changes in the management personnel of the Company, the Company is requiring additional time to support the auditors in finalizing the 2021 Annual Financial Statements. We expect to release our 2021 Annual Financial Statements by the end of 2022. Over the past few months, the Company has instituted enhanced financial and operational controls to improve  accuracy, efficiency and reporting compliance. 

In addition to the work being done to finalize the 2021 Annual Financial Statements, the board of directors of the Company (the “Board”) resolved to demand repayment of all amounts advanced, which total approximately US$166,325 to Ionic Brands Corp. (“Ionic) pursuant to a demand promissory note dated May 20, 2022 (the “Ionic Promissory Note”). YourWay has provided notice to Ionic of its demand for repayment, but the funds have not yet been returned.  

Throughout the year, there have been several adjustments to the leadership team and the Board to oversee the strategic corporate transformation of the Company. Recently, Jacob Cohen resigned as Chief Executive Officer of the Company to focus on his operational role as President of Arizona Operations. Mr. Cohen has extensive hands-on experience in the Arizona cannabis sector, and the Arizona marketplace continues to be a focus of YourWay’s sales and marketing efforts. 

The Arizona cannabis marketplace is in flux, and since recreational marijuana sales launched in 2022, the Arizona medicinal market has seen a downturn. The Arizona Department of Health Services has reported a steady decline in the Arizona medicinal market.^[1]

This shift in the Arizona market has altered the focus of the Company’s retail customers, and YourWay’s sales team is adapting to satisfy the shift from the medicinal market to the new demand for recreational cannabis products. The Company is making an effort to balance out its portfolio by introducing several established brands to the Arizona marketplace. For example, Old Pal is a well-known and in-demand cannabis brand that has continued to be a strong performer since the Company began Arizona production and shipment in May of 2022. YourWay’s exclusive multi-year licensing agreement to manufacture, produce, promote, distribute, and sell certain Old Pal-branded cannabis products in Arizona, including whole flower, pre-ground flower, pre-rolls, and distillate cartridges in association with the Old Pal brand, has allowed YourWay to capitalize on the shift in demand in the Arizona market. 

Additionally, in February of 2022, YourWay signed an exclusive agreement with AIRO, one of the top-selling cannabis brands across multiple markets, including Nevada, Colorado, Illinois, Maryland and Washington. AIRO is currently available in more than 1,300 dispensaries across the United States and Puerto Rico. Expanding the AIRO offerings is currently under consideration by the Company, and under the terms of the exclusive multi-year licensing agreement entered into between YourWay and AIRO, YourWay has exclusive right and license to manufacture, produce, promote, distribute, and sell certain popular AIRO products in Arizona, including the AIROPro®, AIROSport™, and AIROX®, featuring formulations from AIRO’s Strain Series, Artisan Series, and Live Flower Series, plus additional products. 

In addition to balancing our portfolio of brands, the Company has made a conscious effort to rationalize existing product SKUs, including price adjustments when appropriate and eliminating non-profitable products. In the past, a large portion of revenue was derived from non-branded bulk distillate and extracted products. Maintaining a reasonable margin within this category has been a challenge, and most related sales have now ceased. Although we expect an impact on total sales revenue based on the termination of this category, this will allow for an increased focus on the YourWay core strategic objective of creating value with its own brands, partner brands and select retailer control brands. The Company will continue to monitor opportunities in the bulk category and maintains the optionality to reactivate this category should business or market conditions change.

YourWay has experienced operational challenges which have hampered the Company’s ability to satisfy some of its contractual arrangements to provide services and generate revenue. While the Company reports cannabis-related revenue and expenditures due to financial reporting requirements under International Financial Reporting Standards, the Company does not have any cannabis licenses itself and, accordingly, is reliant upon third-party license holders, which has limited the Company’s sell-through capabilities during 2022. An ongoing focus by the Company is to address operational challenges, and there are signs of improvement in that area. 

While the rapidly expanding recreational Arizona cannabis market provides many growth opportunities for the Company, it also presents an influx of competitor brands across the state. Throughout 2022 all wholesale product prices have decreased. The drop in the high-end market of the Arizona indoor flower price has dipped below those of California, with the breadth of quality and pricing adding to the complexity of retailing in the Arizona cannabis market.^[2],[3] To combat this influx of competitors, the Company’s growth strategy includes expanding the Venom Extracts brand, which has been part of the Arizona cannabis market since 2017 and as such, has developed significant brand awareness and loyalty amongst legacy cannabis users. Venom Extracts is positioned as an affordable cannabis brand with a following of consumers who exhibit a tendency for repeat purchases. Plans are in place for several line extensions to the Venom Extracts brand, including pre-rolls and infused pre-rolls.

With COVID-19 restrictions eliminated for most of the hospitality and travel industries across the United States, many states, including Arizona, are seeing a significant increase in tourists. Increased tourist traffic to the state will provide an opportunity to market cannabis brands to visitors who may or may not have readily available legal cannabis for sale in their home state. 

Labor force participation in Arizona still remains below pre-pandemic rates and continues to be an issue for many industries in Arizona.^[4] Delays in securing the appropriate labor contingent and licensing delays have impacted the Company’s ability to bring the Cottonwood facility (the “Facility”) online. Based on the delays and current state of the market, the Company is strategically reviewing options related to the Facility. The substantial increase in the supply of raw materials with attractive quality and wholesale price points as a result of new facilities coming online throughout the state creates additional optionality for the Company.   

About YourWay Cannabis Brands

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, with sales and operations in Arizona, California, Oregon and Washington. By building their own brands, partnering with others, and supporting retail partners control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website:  www.yourwaycannabis.com 

Your Way Contacts:

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the Company’s intentions to finalize the 2021 Annual Financial Statements by the end of 2022; the impact of the Company’s enhanced financial and operational controls; the Company’s expansion plans for the Arizona cannabis market; the repayment of the Ionic Promissory Note; the Company’s continued focus on sales and marketing efforts in the Arizona marketplace; the impact of the decline in the Arizona medicinal cannabis market; the Company’s efforts to introduce established brands to the Arizona marketplace; the expansion of the AIRO offerings in the Arizona cannabis market; the expected impact on the Company’s total sales revenue as a result of the termination of non-branded bulk distillate and extracted products; the Company’s increased focus on its strategic objective of creating value with its own brands, partner brands and select retailer control brands; the Company’s continued efforts to monitor opportunities in the bulk category in order to maintain optionality to reactivate the category if needed;  the complexity of retailing in the Arizona cannabis market; the Company’s strategy to expand the Venom brand; the expected increase in demand as a result of Arizona’s increasing tourist traffic; the  increasing tourist traffic in Arizona; the Company’s options regarding the Facility; additional optionality for the Company as a result of increased supply of raw materials with attractive quality and wholesale price points; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the timing for filing the Annual Filings and the Interim Filings; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company’s annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company 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 required by law.

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^[1] https://www.azdhs.gov/documents/licensing/medical-marijuana/reports/2022/mm-jul22.pdf

^[2] https://www.phoenixnewtimes.com/marijuana/concern-grows-over-declining-pot-prices-in-arizona-13929637

^[3] https://www.cannabisbenchmarks.com/report-category/united-states/

^[4] https://www.prnewswire.com/news-releases/solid-job-growth-labor-shortages-still-severe-301617152.html