Author: Lidija

News

YourWay Cannabis Brands to acquire Ionic Brands

Post author By Lidija
Post date April 20, 2022
No Comments on YourWay Cannabis Brands to acquire Ionic Brands

Vancouver, BC, April 20, 2022 – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (“YourWay”) and Ionic Brands Corp. (CSE:IONC)(OTC:IONKF)(FSE:IB3) (“Ionic Brands”) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) on April 20, 2022 pursuant to which YourWay will acquire all of Ionic Brands’ issued and outstanding common shares (the “Ionic Brands Shares”), including all Ionic Brands’ Shares issuable on conversion of Ionic Brands’ issued and outstanding preferred shares in accordance with the terms thereof (the “Transaction”).

Pursuant to the terms of the Arrangement Agreement, Ionic Brands shareholders will receive 0.0525 of a YourWay common share in exchange for each Ionic Brands Share held. The Transaction provides Ionic Brands shareholders with a premium per Ionic Share of approximately 21% based on the closing price of the YourWay common shares on the Canadian Securities Exchange (the “CSE”) as of April 19, 2022 and the 10-day volume weighted average price of the Ionic Brands Shares on the CSE for the period between April 6, 2022 and April 19, 2022.

The arm’s length Transaction is expected to provide several benefits to both YourWay and Ionic Brands shareholders. Notably, following completion of the Transaction, YourWay will possess a strengthened brand portfolio including one of Washington’s leading brands, which is expected to enable broader market penetration.

Key Transaction Highlights

Anticipated Growth Opportunities: The Transaction enables potential expansion of YourWay’s ‘House of Brands’ into two additional leading cannabis markets: Washington and Oregon, while also exposing YourWay to an additional 16 million consumers.
Increased Retail Footprint: The combined company’s products are expected to be carried by more than 450 retailers, with significant market penetration in Arizona and Washington. In 2021, Ionic Brands distributed over 6,970,889 million packaged products.
Robust Brand Portfolio: Following the Transaction, the combined company will have 12 owned brands brands in four key states, with expanded consumer offerings and exposure to high growth categories, including edibles, beverages, and packaged flower. Ionic Brands’ flagship brand, IONIC, is a top three premium brand in Washington State with a series of vape and prerolls SKUs. Ionic Brands’ portfolio also includes; ZOOTS, a popular consumables brand with a variety of form factors, the value concentrate brands DABULOUS, WICKED, a premium infused preroll and Cowlitz County Cannabis which includes seven packaged flower and preroll brands.
Product Innovation: The combined company will have nearly a decade of data, formulation, and product development experience, enabling the development of products that closely align with consumer preferences.
Bolsters Leadership Team: The management team of the combined company will have more than 70 years of combined cannabis industry experience to support the company’s ongoing growth.
Ongoing Upside Potential for Ionic Brands Shareholders: Ionic Brands shareholders will receive YourWay common shares pursuant to the Transaction and will have the opportunity to participate in the future growth of YourWay.
Immediate Attractive Premium for Ionic Brands Shareholders: The Transaction provides Ionic Brands shareholders with a premium per Ionic Share of approximately 21% based on the closing price of the YourWay common shares on the CSE as of April 19, 2022 and the 10-day volume weighted average price of the Ionic Brands Shares on the CSE for the period between April 6, 2022 and April 19, 2022.
Opportunity to Achieve Potential Cost Synergies: YourWay and Ionic Brands anticipate post-Transaction cost synergy opportunities as the combined company optimizes and integrates operations and shared services.
Improved Financial Position: Considering the challenging economic environment and volatile financial market conditions, particularly for cannabis companies, the Transaction provides Ionic Brands shareholders with access to YourWay’s stronger financial position, which is expected to enable the combined company to pursue key growth projects.

Management Commentary

“The Transaction is expected to accelerate YourWay’s ‘House of Brands’ strategy and represents an opportunity for entry into key markets with limited competition from national multi-state operators. Ionic Brands brings complementary strength to our existing business, providing the ability to bring more innovative products to consumers and bolstering our footprint in two new US markets.”

Jakob Ripshtein, Executive Chairman of the Board, YourWay Cannabis Brands Inc.

“We believe the Transaction is highly strategic for Ionic Brands, its brands, team members and shareholders, and will allow Ionic Brands shareholders to participate in the shared vision of the combined company. The Transaction was entered into with a view to the long-term growth and success of the Ionic brand and the potential to increase shareholder value.”

John Gorst, CEO, Ionic Brands Corp.

Transaction Details

The Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require the approval of: (i) 66⅔% of the votes cast by the holders of Ionic Brands Shares and the Series D preferred shares of Ionic Brands, voting together as a single class, on the Transaction, (ii) a simple majority of the votes cast by the holders of Ionic Brands Shares and the Series D preferred shares of Ionic Brands, voting as a single class after excluding any votes of “related parties” and “interested parties” and other persons required to be excluded under Canadian Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, on the Transaction, (iii) 66⅔% of the votes cast by the holders of the Series D preferred shares of Ionic Brands on an amendment to the articles of Ionic in order to remove the dividend entitlement for the holders of the Series D preferred shares (the “Series D Amendment”), and (iv) 66⅔% of the votes cast by the holders of the Series E preferred shares of Ionic Brands on an amendment to the articles of Ionic in order to remove the dividend entitlement for the holders of the Series E preferred shares (the “Series E Amendment”), all at a special meeting to consider the Transaction expected to take place in June 2022.

YourWay has entered into voting support agreements with certain of Ionic Brands’ directors, officers and significant shareholders, together holding (i) at least 21.66% of the outstanding Ionic Brands Shares and Series D preferred shares of Ionic Brands, (ii) approximately 70.57% of the outstanding Series D preferred shares of Ionic Brands, and (iii) 100% of the outstanding Series E preferred shares of Ionic Brands, pursuant to which they have agreed, among other things, to vote their shares in favour of the Transaction, the Series D Amendment and the Series E Amendment, as applicable.

In addition to shareholder and court approvals, the Transaction is subject to applicable regulatory approvals including, but not limited to, CSE approval and the satisfaction of certain other closing conditions, including the Series D Amendment, the Series E Amendment and various amendments to the terms of Ionic Brands outstanding convertible debentures. The Arrangement Agreement includes customary provisions, including non-solicitation, “fiduciary out” and “right to match” provisions as well as a termination fee payable by Ionic Brands to YourWay in certain specified circumstances.

Assuming timely receipt of all necessary court, shareholder, regulatory and other third-party approvals and the satisfaction of all other conditions, closing of the Transaction is expected to occur in the third quarter of 2022.

A full description of the Transaction will be set forth in the management information circular of Ionic Brands, which will be mailed to Ionic Brands shareholders and filed with the Canadian securities regulators on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.

Approvals and Recommendation

The Transaction was approved by the Board of Directors of each of YourWay and Ionic Brands, and the Ionic Brands Board of Directors unanimously recommends that Ionic Brands shareholders vote in favour of the Transaction.

LUI, Inc. provided the Ionic Brands Board of Directors with an opinion, dated April 19, 2022, to the effect that, as of the date of such opinion, the consideration payable pursuant to the Transaction is fair, from a financial point of view, to the Ionic Brands shareholders, in each case, based upon and subject to the respective assumptions, limitations, qualifications and other matters set forth in such opinions.

None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

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 and California. Through building their own brands, partnering with others, and supporting retail partners house brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately, redefining the way 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 for the latest news and information about YourWay and its brands.

Website: www.yourwaycannabis.com

About Ionic Brands Corp.

Ionic Brands is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and consummables. The cornerstone brand of the portfolio, IONIC, is a top vaporizer brand in Washington State along with its economy brand DABULOUS and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington and Oregon. Ionic Brands’ strategy is to be the leader of the highest-value segments of the cannabis market.

Your Way Contacts:

Glen Shear

Head of Investor Relations

[email protected]

For media inquiries, please contact: [email protected]

For investor inquiries, please contact: [email protected]

Ionic Brands Corp. Contacts:

John Gorst

Chief Executive Officer

For inquiries, please contact: [email protected] or 253-248-7928

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 YourWay and Ionic Brands 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 timing and outcome of the Transaction, the anticipated benefits of the Transaction, the potential synergies as a result of the Transaction, the anticipated timing of the Ionic Brands special meeting of shareholders and the closing of the Transaction, the satisfaction or waiver of the closing conditions set out in the Arrangement Agreement, including approval of the Series D Amendment and the Series E Amendment and the receipt of all regulatory approvals, 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, including: assumptions as to the time required to prepare and mail meeting materials to Ionic Brands shareholders; the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Transaction; the prompt and effective integration of YourWay and Ionic Brands’ businesses and the ability to achieve the anticipated synergies contemplated by the Transaction; inherent uncertainty associated with financial or other projections; risks related to the value of the YourWay common shares to be issued pursuant to the Transaction; the diversion of management time on Transaction-related issues; expectations regarding future investment, growth and expansion of YourWay and Ionic Brands’ operations; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; legal and regulatory risks inherent in the cannabis industry, including the global regulatory landscape and enforcement related to cannabis, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis industry; and such other risks contained in the public filings of YourWay and Ionic Brands filed with Canadian securities regulators and available under their respectvie profiles on SEDAR at www.sedar.com.

YourWay and Ionic Brands, through their respective subsidiaries, are 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 YourWay and Ionic Brands operate 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 YourWay and Ionic Brands of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against YourWay or Ionic Brands. The enforcement of federal laws in the United States is a significant risk to the business of YourWay and Ionic Brands and any proceedings brought against YourWay or Ionic Brands thereunder may adversely affect YourWay and Ionic Brands operations and financial performance, respectively.

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 YourWay and Ionic Brands have 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. YourWay and Ionic Brands disclaim 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.

News

YourWay Cannabis Brands announces executive chairman Jakob Ripshtein to speak at Benzinga Cannabis Capital Conference in Miami, April 21, 2022

Exclusive Interview
Building a House of Brands, not a House of Cards

VANCOUVER, BC, March 31, 2022 /CNW/ – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company” or “YourWay“), a multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, today announced Executive Chairman Jakob Ripshtein will participate in an exclusive interview at the upcoming Benzinga Cannabis Capital Conference, the world’s biggest and most successful cannabis investing and finance event.

The conference will take place on April 20 and April 21, 2022, at the Fontainebleau Miami Beach hotel in Miami, Florida. Mr. Ripshtein will speak on the conference’s final day with moderator Scott Greiper, founder and President of Viridian Capital Advisors. Mr. Ripshtein will be discussing YourWay’s strategic vision to build a comprehensive family of brands designed to create a sense of belonging for every cannabis consumer.

“At YourWay, we are building a House of Brands, not a House of Cards,” said Ripshtein. “The cannabis industry might be new, but building brands isn’t. Rooted in a history of CPG brand building, YourWay is taking a proven approach to creating a differentiated portfolio of brands empowering consumers with value and variety, brands with reach and access, and retailers with increased demand and traffic. Utilizing decades of branding expertise and an integral understanding of the consumer experience, YourWay builds brands that align to distinct consumer segments, need states and occasions.”

Mr. Ripshtein will be speaking at 3:50 p.m. ET on April 21, 2022. Interested parties can register to attend the conference here.

Members of the YourWay management team will also be holding one-on-one investor and discovery meetings throughout the two-day conference.

About YourWay Cannabis Brands

YourWay Cannabis Brands 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 and California. Through building their own brands, partnering with others, and supporting our retail partner’s house brand strategy, they are dedicated to expanding their reach, remolding the cannabis industry and ultimately redefining the way 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
Twitter: @yourwaycannabis

About The Benzinga Cannabis Capital Conference

The premier gathering of cannabis entrepreneurs and investors in North America is returning to Miami.

The next iteration of the famed Benzinga Cannabis Capital Conference will gather industry insiders and investors from around the world once again on April 20 and 21 in Miami. Attendees can expect two full days of keynotes, panel discussions, fireside chats, networking, company presentations, celebrity appearances, and more.

CAUTIONARY STATEMENT REGARDING 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: 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.

SOURCE YourWay Cannabis Brands

For further information: Glen Shear, Head of Investor Relations, [email protected], YourWay Cannabis Brands; For media inquiries, please contact: [email protected]; For investor inquiries, please contact: [email protected]

News

YourWay Cannabis Brands appoints Sandra Ceccacci, CPA as its chief financial officer

Post author By Lidija
Post date March 29, 2022
No Comments on YourWay Cannabis Brands appoints Sandra Ceccacci, CPA as its chief financial officer

Close-up of corporate managers handshaking after successful agreement in the office.

VANCOUVER, BC, March 29, 2022 /CNW/ – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company” or “YourWay“), a multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, today announced that Sandra Ceccacci, will join YourWay as its Chief Financial Officer (“CFO“) effective April 4, 2022.

Ms. Ceccacci joins YourWay from Clearway Group of Companies, where she served as Vice-President of Finance, providing strategic, operational, and financial leadership to one of Canada’s leading nationwide contractors. Prior to that, she delivered $1.3B in shareholder value by leading the spin out of Element Financial Corporation’s equipment, rail, and aviation divisions and subsequently joining ECN Capital Corp as their Senior Vice President, Finance and Taxation. Throughout her career, Ms. Ceccacci held various roles where she was an integral part in delivering strategic initiaves, leading cross functional teams responsible for planning and due diligence for acquisitions and dispositions, process and systems improvements, de-risking and monetizing tax positions, and fostering highly productive teams.

“Sandra brings a wealth of experience and a proven track record as a results-oriented financial executive,” said Eula Adams, member of the board of directors and former CFO of YourWay. “Sandra has over 25 years of leadership experience in finance, tax, accounting, treasury, mergers, acquisitions and divestitures for entities operating in multiple business units and geographies.”

“I am delighted to be part of YourWay’s leadership team as we aim to expand into new markets, categories and introduce new brands to consumers”, said Sandra. “It is exciting to join an organization committed to building a portfolio of brands that are focused on satisfying consumer needs and committed to delivering shareholder value.”

Ms. Ceccacci is a Chartered Professional Accountant and graduated from the University of Toronto with a Bachelor of Commerce and Economics.

Eula Adams was appointed as the Interim CFO and a member of the YourWay board of directors in 2021 with an objective to implement financial processes and to recruit an outstanding leader for the permanent role. Mr. Adams will work with Ms. Ceccacci to ensure an effective transition of CFO responsibilities as part of his continued role on YourWay’s board of directors.

“I want to thank Eula for his terrific work and leadership during the rebrand from Hollister Biosciences to YourWay Cannabis Brands, and in the transition to internalize accounting, finance and administrative functions that were previously outsourced,” said Jakob Ripshtein, Executive Chairman of YourWay. “We look forward to his continued leadership as a board member.”

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 and California. Through building their own brands, partnering with others, and supporting retail partners house brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately, redefining the way 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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

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.

SOURCE YourWay Cannabis Brands

For further information: For media inquiries, please contact: [email protected]; For investor inquiries, please contact: [email protected]

News

YourWay Cannabis Brands commences production of Old Pal products in Arizona

Post author By Lidija
Post date March 24, 2022
No Comments on YourWay Cannabis Brands commences production of Old Pal products in Arizona

Production has commenced on Old Pal Products in Arizona
Strengthens ‘House of Brands’ portfolio

VANCOUVER, BC, March 24, 2022 /CNW/ – YourWay Cannabis Brands Inc. (CSE:YOUR)(OTC:YOURF)(FSE:HOB) (the “Company” or “YourWay“), a multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, today announced that production of Old Pal products has commenced in Arizona. The initial shipment to dispensaries are scheduled to commence next week.

“When we announced our brand partnership with Old Pal in January of this year, we committed to introducing the product into the Arizona market in the first quarter of 2022,” said Jakob Ripshtein, Executive Chairman of YourWay. “Today’s announcement that we will be shipping to dispensaries by next week is a testament to the collaborative efforts between our YourWay team and our great partners at Old Pal.”

The production and distribution of Old Pal by YourWay is part of the previously announced exclusive multi-year licensing agreement with the cannabis lifestyle company Old Pal for an exclusive right and license 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.

“I’m very proud of everyone who has been part of this Old Pal brand launch in Arizona,” said Jake Cohen, Chief Executive Officer of YourWay.

“We are excited to bring the Old Pal shareable experience to Arizona. This is our natural next step in building the first independent national cannabis brand,” said Rusty Wilenkin, Co-founder and Chief Executive Officer of Old Pal. “We look forward to Arizonians becoming part of the Old Pal community, and to building one of the most accessible brands in the industry.”

Old Pal was launched in June 2018 with the promise of spreading the vision of a lifestyle brand centered around shareable, communal cannabis experiences. As of December 2021, BDSA ranked Old Pal-branded cannabis products as the third overall cannabis brand in their current roster of states. Old Pal is currently available in Arizona, California, Massachusetts, Michigan, Nevada, Ohio and Pennsylvania.

About YourWay Cannabis Brands

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

About Old Pal

Old Pal is a multi-state cannabis lifestyle brand focused on providing value to consumers by offering quality products and trusted consistency. Through Old Pal’s strategic relationships within the industry, the brand has secured high quality, dependable production and distribution. With the incorporation of culture-focused design and marketing, Old Pal has defined a much-needed new space within the industry; curating an accessible lifestyle beyond stoner culture via brand efforts and soft goods line, Old Pal Provisions. For more information, please visit oldpal.com and follow Old Pal Provisions on Instagram.

Websites:
www.oldpal.com
www.oldpalprovisions.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

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.

SOURCE YourWay Cannabis Brands

For further information: YourWay Cannabis Brands: For media inquiries, please contact: [email protected], For investor inquiries, please contact: [email protected]

News

YourWay Cannabis Brands announces Jakob Ripshtein appointed Executive Chairman

Post author By Lidija
Post date March 23, 2022
No Comments on YourWay Cannabis Brands announces Jakob Ripshtein appointed Executive Chairman

businessman success working with his board room background

VANCOUVER, BC, March 23, 2022 /CNW/ – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company” or “YourWay“), a multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, today announced Jakob Ripshtein has been appointed Executive Chairman of the company, effective immediately.

“I am looking forward to playing a more hands-on role in overseeing the rollout of our strategic vision.” said Mr. Ripshtein, “It is an exciting time at YourWay as we prepare for expansion into new markets, categories and introduce new brands to consumers.”

Mr. Ripshtein was elected Chairman of the Board of YourWay in 2021. He previously served as the President of Aphria Inc., now Tilray Brands Inc. (NASDAQ:TLRY), where he was responsible for corporate strategy, marketing, and sales. Prior to that, he was President of Diageo Canada, before becoming North American CFO for Diageo (NYSE:DEO). Diageo is one of the largest beverage companies with over 200 outstanding brands, sold in 180 countries at almost every price point, in every category to meet consumer demand.

“Jakob is someone who started his career in finance, spent many years building great CPG brands, and then helped launch one of the leading cannabis companies in the industry,” said Jake Cohen, Chief Executive Officer of YourWay. “We are delighted to have Jakob playing a more active role in helping guide YourWay on its path to building the leading consumer-centric portfolio of cannabis brands globally.”

In his newly created position as Executive Chairman, Mr. Ripshtein will provide enhanced leadership in several areas, including governance, finance, M&A, and commercial strategy.

About YourWay Cannabis Brands

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

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.

SOURCE YourWay Cannabis Brands

For further information: YourWay Cannabis Brands: For media inquiries, please contact: [email protected]; For investor inquiries, please contact: [email protected]

News

Hollister Biosciences Inc. Launches Rebrand to Yourway Cannabis Brands Inc. and Bold New Strategy

Post author By Lidija
Post date December 14, 2021
No Comments on Hollister Biosciences Inc. Launches Rebrand to Yourway Cannabis Brands Inc. and Bold New Strategy

Rebrand is part of previously announced strategic transformation
Unveiled new name, logo aligned with commitment to ‘House of Brands’ strategy
[Announced stock ticker change to ‘YOUR’ effective December 16, 2021]

VANCOUVER, BC, Dec. 14, 2021 /CNW/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company” or “Hollister“) today launched its previously announced rebrand to YourWay Cannabis Brands Inc. (“YourWay Cannabis Brands” or “YourWay“).

Hollister, with cannabis operations in California and Arizona, has completed an extensive rebranding to align with the Company’s strategic corporate transformation and renewed corporate vision. At the heart of the rebrand is the change of the Company’s name to YourWay Cannabis Brands. This update is 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.

“As a pioneer in the industry, I’ve experienced a magnitude of evolution over the past few years. From watching brands that seemingly hatched overnight flood the market to seeing companies attempt differentiation through product innovation,” said Jake Cohen, Chief Executive Officer, YourWay Cannabis Brands. “The one thing that has been missing, is an organization committed to truly putting the consumer and their cannabis needs first. Our focus at YourWay is to provide the consumer with the right brands and the right products for every occasion so they can maximize the quality of their experience each time they interact with the product.”

YourWay Cannabis Brands was built with one simple driving principle in mind: to keep the consumers’ needs and wants center-stage with every decision they make. Our mission is to build a comprehensive house of brands that consumers relate with – regardless of their relationship with the plant – ensuring every individual has brands that enhance each occasion, and products that fit their lifestyles.

“Having worked with the world’s most prominent brands for over 30 years, we know what it takes to be a truly consumer-centric business, and how to create a portfolio of brands that intuitively revolve around the needs and wants of consumers,” said Chris Lund, Chief Commercial Officer, YourWay Cannabis Brands. “We believe the next big cannabis breakthrough won’t only come from the pursuit of the highest potencies, new strains, or product innovation, but through creating powerful brands that consumers feel connected to.”

A dedication to creating a family of brands that consumers can see themselves in will guide the creation and release of a thoughtful suite of occasion-based branded products that management believes will garner increased basket sizes for retailers. The new and dynamic YourWay leadership team has a profound understanding of industry dynamics and consumer psychographics, utilizing decades of brand-building expertise and integral insight on the customer experience to develop brands that fill current gaps in the marketplace.

With its strong balance sheet and refined strategy for success, YourWay believes it is poised to take the industry by storm.

The Company also announced effective December 16, 2021, its shares will trade on the Canadian Securities Exchange (“CSE“) under the symbol “YOUR”. In the interim, shares will continue to trade under “HOLL” on CSE, “HSTRF” on OTC Market Group, and “HOB” on Frankfurt Stock Exchange. No action is required by existing shareholders with respect to the ticker symbol change.

About YourWay Cannabis Brands

YourWay Cannabis Brands is a publicly traded multi-state operator with sales and operations in 350+ dispensaries across the Western United States. Through building their own brands, partnering with others, and providing white-labelled product, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately, redefining the way consumers and cannabis brands interact.

Website: www.yourwaycannabis.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

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.

SOURCE YourWay Cannabis Brands

For further information: Joshua Lavers: [email protected], Tel: (416) 644-2020 or (212) 812-7680

News

Hollister Biosciences Inc. to Report Q3 2021 Financial Results on November 29, 2021

Post author By Lidija
Post date November 29, 2021
No Comments on Hollister Biosciences Inc. to Report Q3 2021 Financial Results on November 29, 2021

VANCOUVER, BC, Nov. 18, 2021 /CNW/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company”, “Hollister Cannabis Co.” or “Hollister”) today announced it will release its third quarter fiscal year ended September 30, 2021 after market close on Monday, November 29, 2021.

Following the release of its third quarter financial results, the Company will hold a conference call on Tuesday, November 30, 2021 at 4:00pm ET.

The live audio earnings conference call may be accessed online and by phone using the link: https://www.renmarkfinancial.com/events/third-quarter-2021-results-cse-holl-2021-11-30-160000. Investors may pre-register for the call by navigating to the same link provided. The conference call will be archived for replay and accessible at https://hollisterbiosciences.co/investors/.

About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a multi-state company with a portfolio of innovative, high- quality cannabis & hemp branded consumer products and white-labeling manufacturing. Our products are sold in 370 dispensaries across Arizona and California. Hollister Biosciences wholly-owned brand, Venom Extracts, is a category-leading brand that sold more than 4 million grams in 2020, accounting for up to 30% of category sales in Arizona.

Products from Hollister Biosciences Inc. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products and full-spectrum high CBD pet tinctures. Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA, birthplace of the “American Biker”.

Website: www.hollisterbiosciences.co

SOURCE Hollister Biosciences Inc.

For further information: Company Contact: Joshua Lavers: [email protected], Tel: (416) 644-2020 or (212) 812-7680

News

Hollister Biosciences Announces Third Quarter Fiscal 2021 Financial Results Including Revenue of USD $14.5M and Adjusted Ebitda of USD $1.2M

Revenue of $14.5 million increased 53% from prior year period
Gross profit income of $3.5 million increased 151% from prior year period
Net income was $0.4 million versus a loss of $0.6 million in prior year period
Adjusted EBITDA was $1.2 million, versus a loss of $0.6 million in prior year period
Maintained a strong liquidity position, including a cash & cash equivalents balance of $7.6 million, an increase of 300% from prior year quarter

VANCOUVER, BC, Nov. 29, 2021 /CNW/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company” or “Hollister“) today announced its financial results for the third quarter fiscal 2021 ended September 30, 2021. All financial information is presented in U.S. dollars unless otherwise indicated.

“We delivered another solid quarter, continuing to drive year-over-year growth. Our performance in this quarter was driven by organic growth of our core business, Venom Extracts. As we approach the end of our final quarter and the beginning of a period of transformation, our strengthened and experienced leadership team is laser focused on creating shareholder value, delivering sustainable profitable growth, keeping operating costs low, and scaling the Company for optimal global success.”
– Jake Cohen, Chief Executive Officer, Hollister

“Hollister’s third quarter results demonstrate the strength of our business and commitment to executing against our strategy. With its strong balance sheet, we believe the Company is well positioned and prepared for growth as it continues on its strategic transformation.”
– Eula Adams, Chief Financial Officer, Hollister

Third Quarter 2021 Financial Results

Total revenue was $14.5 million, an increase of $5 million or 53% compared to the prior year period.
Gross profit was $3.5 million compared to $1.4 million for the prior year period.
Net income was $0.4 million versus a loss of $0.6 million in the prior year period.
Adjusted EBITDA was $1.2 million compared to a loss of $0.6 million in the prior year period.
Cash and cash equivalents was $7.6 million, a 300% increase as compared to $1.9 million at June 30, 2020.

Third Quarter 2021 Business Highlights

On July 13^th, 2021, the Company announced it was added as an index constituent in the Solactive US Marijuana Companies Index (the “Index“) as part of the Index’s June 2021 quarterly rebalancing and as a result is now a holding in the Horizons US Marijuana Index ETF (NEO: HMUS).
On August 25^th, 2021, the Company announced ‘Hollister Brand Campus‘ (the “Campus“) a 30-Acre Arizona Brand Campus with planned 700,000 square feet of cultivation area and an existing 28,500-square-foot processing and manufacturing facility.
On August 31^st, 2021, the Company announced two new board members, Mr. Kevin Harrington, an original “Shark” from the NBC hit TV series “Shark Tank” and Mr. Jakob Ripshtein, the former CFO of Diageo North America and President of Aphria Inc.

Recent Events

On October 18^th, 2021, the Company announced a series of operational and strategic updates to create shareholder value, enhance governance, operations and market positioning while preparing the Company for the next phase of its growth, including:
- Appointment of:
  - Jacob Cohen as Chief Executive Officer
  - Eula Adams as Chief Financial Officer
  - Chris Lund as Chief Commercial Officer
  - Jill Karpe as Senior Vice President of Admin and Finance;
- Refocused business strategy to develop a “house of brands” focused on cannabis consumer packaged goods;
- Initiated rebranding corporate identity and name of the company; and
- Reduction of expenses and resource allocation on non-core business activities.
On November 2^nd, 2021, the Company announced it received an order from the Ontario Securities Commission granting Hollister an exemption from certain provisions governing disclosure and other matters applicable to issuers with outstanding “restricted securities”.
On November 23^rd, 2021, all matters put forward before the Company’s shareholders for consideration and approval, as listed in the management information circular of the Company dated October 18, 2021 (the “Circular“), were approved by the requisite majority of votes cast at the Company’s Annual General and Special Shareholder Meeting. This includes the election of all six (6) Board of Director nominees listed in the Circular: Jakob Ripshtein, Jacob Cohen, Eula Adams, Lily Dash, Kevin Harrington, and Brett Mecum.

Outlook
The Company believes the outlook is strong and has developed a solid strategy supported by strong operational, financial and leadership capabilities. In January 2021, the state of Arizona enacted sales of adult-use cannabis ahead of industry expectations. The Company recognized a substantial increase in demand for its branded goods and bulk wholesale products, creating a larger volume of sales in the first half of the year as dispensaries and brands readied for inventory for the market change. During Q3 2021 and beyond the Company focused its efforts on improving sales of higher margin products and aligning supply and demand to flow with the seasonality of the Arizona and cannabis markets at large. Management reports that January through November sales are estimated to exceed $64.5 million. Management believes the previously forecasted guidance of $70 million is achievable and driven by sales of finished and bulk products in the company’s core market of Arizona. Historically, fourth quarter sales in Arizona improved versus summer months due to local population increases from seasonal residents returning and holiday visitors. The overall Arizona market demand has seen improvements in the categories that the company operates and is expected to continue.

Sales through the end of November are preliminary and are unaudited and subject to change and adjustment when the Company prepares its audited consolidated financial statements for the year ended December 31, 2021. Accordingly, investors are cautioned not to place undue reliance on the foregoing information. The preliminary results provided in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws, are based on several assumptions and are subject to a number of risks and uncertainties. Actual results may differ materially. See “Cautionary Statement Regarding Forward-Looking Information”.

The Company will continue optimizing its platform in Arizona through improved same-store sales, loyalty, and expanding its product portfolio and market penetration. The recently announced Campus project is progressing and once production has commenced it is expected to provide the Company with substantially reduced direct material costs, resulting in improved gross margin. The Campus also has ample space to expand production of higher margin finished products.

As previously announced, the Company is moving forward, implementing its “house of brands” cannabis consumer packaged goods strategy which includes manufacturing and distribution of owned and partner branded cannabis products in chosen markets. Additionally, the Company is planning to rationalize its existing brand and product portfolio, dedicating efforts towards new, highly targeted brand partnerships and the acquisition or development of owned brands.

On the corporate development front, the process to rebrand the Company and to align it with its refined strategy has commenced. Campaigns to improve awareness and broaden the shareholder base are being developed.

The Company has placed certain non-core assets including its California operations in a care and maintenance program to reduce expenses and improve overall financial and operational performance.

In addition to operational, financial, governance and strategy improvements, the Company has also been dedicating efforts to enter new markets with its existing brands.

USE OF NON-IFRS FINANCIAL MEASURES
This press release includes certain non-IFRS financial measures. Reconciliations of these non-IFRS financial measures to the most directly comparable financial measure calculated and presented in accordance with IFRS are included below. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with IFRS. The Company’s management team uses adjusted EBITDA to evaluate operating performance and trends and to make planning decisions. The Company’s management team believes adjusted EBITDA helps identify underlying trends in the business that could otherwise be masked by the effect of the items that are excluded. Accordingly, the Company believes that adjusted EBITDA provides useful information to investors and others in understanding and evaluating the operating results, enhancing the overall understanding of past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by management in its financial and operational decision-making.

The table below reconciles net income (loss) and comprehensive income (loss) to Adjusted EBITDA (Loss for the three and nine months ended September 30, 2021 and 2020:

	Three months ended September 30,		Nine months ended September 30,
	2021	2020	2021	2020
	$	$	$	$
Net income (loss) and comprehensive income (loss)	457,148	(649,095)	4,040,649	(2,584,259)
Add (deduct) impact of:
Accretion	–	3,150	–	9,451
Depreciation	333,739	445,045	964,861	574,098
Finance costs	123,300	107,274	332,905	327,135
Foreign exchange gain	(29,665)	–	(57,961)	–
Interest expense	342	37,750	20,356	87,750
Transaction costs	–	–	–	379,684
Acquisition expense	–	–	–	535,478
Interest income	(46,802)	–	(112,890)	–
Gain on sublease	–	–	262,015	–
Gain on lease extinguishment	19,951	–	19,951	–
Lease renegotiation costs	(252,036)	–	(252,036)	–
Income tax expense	617,000	(8,400)	2,438,000	(8,400)
Deferred income tax recovery	(3,000)	–	(131,000)	–
Foreign currency translation adjustment	22,866	3,902	7,055	81,642
Adjusted EBITDA (Loss)	1,242,843	(60,374)	7,531,905	(597,421)

The live audio earnings conference call may be accessed online and by phone using the link: https://www.renmarkfinancial.com/events/third-quarter-2021-results-cse-holl-2021-11-30-160000. Investors may pre-register for the call by navigating to the same link provided. The conference call will be archived for replay and accessible at https://hollisterbiosciences.co/investors/.

About Hollister
Hollister is a multi-state company with a portfolio of innovative, high-quality cannabis & hemp branded consumer products and white-labeling manufacturing. The Company’s products are sold in 370 dispensaries across Arizona and California. Hollister’s wholly-owned brand, Venom Extracts, is a category-leading brand that sold more than 4 million grams in 2020, accounting for up to 30% of category sales in Arizona.

Products from Hollister include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products and full-spectrum high CBD pet tinctures. The Company’s wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA, birthplace of the “American Biker”.

Website: www.hollisterbiosciences.co

CAUTIONARY STATEMENT REGARDING 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 Company’s financial results, including the Company’s revenue for the year to date will be as projected; 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.

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.

SOURCE Hollister Biosciences Inc.

For further information: Company Contact: Joshua Lavers: [email protected], Tel: (416) 644-2020 or (212) 812-7680

News

Hollister Biosciences Inc. Announces Results of Its 2021 Annual General and Special Shareholder Meeting

Post author By Lidija
Post date November 23, 2021
No Comments on Hollister Biosciences Inc. Announces Results of Its 2021 Annual General and Special Shareholder Meeting

VANCOUVER, BC, Nov. 23, 2021 /CNW/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company” or “Hollister Biosciences“) today announced results of its 2021 Annual General and Special Shareholder Meeting (the “Meeting“) held on November 22, 2021.

All of the matters put forward before the Company’s shareholders for consideration and approval, as listed in the management information circular of the Company dated October 18, 2021 (the “Circular“), were approved by the requisite majority of votes cast at the Meeting. This includes the election of all six (6) Board of Director nominees listed in the Circular: Jakob Ripshtein, Jacob Cohen, Eula Adams, Lily Dash, Kevin Harrington, and Brett Mecum.

Shareholders approved the creation of a new class of shares designated as proportionate voting shares (“PVS“). As previously announced, holders of PVS will be entitled to 1,000 votes in respect of each PVS held. No dividend will be declared or paid on the PVS unless the Company simultaneously declares or pays, as applicable, equivalent dividends (on an as converted to common share basis) on the common shares in the capital of the Company (the “Common Shares“). In addition, each PVS will be convertible into 1,000 Common Shares.

Promptly following the filing of a notice of alteration to its articles by the Company, Carl Saling has agreed to convert 26,814,400 Common Shares into PVS and Jake Cohen has agreed to convert 48,762,400 Common Shares into PVS. Mr. Saling and Mr. Cohen have also each agreed not to convert the PVS back into Common Shares until July 2, 2022.

The PVS are being created in order to minimize the proportion of the outstanding voting securities of the Company that are held by “U.S. persons” for purposes of determining whether the Company is a “foreign private issuer” for purposes of United States securities laws.

Board of Director Biographies

Mr. Jakob Ripshtein, CPA – Mr. Ripshtein served as the President of Aphria Inc. (“Aphria“), which was acquired by Tilray, Inc. (NASDAQ: TLRY), one of the largest cannabis companies in the world, and played an instrumental role in its growth throughout Canada, global product innovation and the integration of global supply networks. He joined Aphria after spending years as the Chief Financial Officer of Diageo North America Inc. (“Diageo“) (NYSE: DEO) and President of Diageo Canada, the multinational beverage giant behind such global brands as Johnnie Walker, Don Julio, Guinness, Baileys, Smirnoff and Captain Morgan. Prior to Diageo, Mr. Ripshtein held a variety of roles in finance, sales and strategy in various global companies and has been based in Canada, the U.S. and the U.K. Earlier in his career, Mr. Ripshtein oversaw business, sales and tax functions in the Canadian spirits, pharmaceutical and financial sectors. Mr. Ripshtein holds a Bachelor of Business Administration from York University, as well as a CPA and International Tax designation. Mr. Ripshtein is currently CEO of Perennial Brands Inc., a full life-cycle brand strategy organization.

Mr. Jacob Cohen – Mr. Cohen is the founder of Venom Extracts, one of the industry’s premier award- winning cannabis concentrate brands. Commencing in March 2020, Venom Extracts sales were consolidated with the Company’s sales and contributed approximately 95% of the Company’s overall sales. Venom Extracts’ product suite is a category leader in Arizona with over 4 million grams of cannabis sold in 2020, accounting for up to 30% of category sales state-wide (per BDS Analytics). Venom Extracts has strong brand recognition and distribution, with products in the vast majority of dispensaries in Arizona.

Mr. Eula Adams – Mr. Adams has had a highly accomplished career spanning five decades across a variety of industries serving public, private, government and philanthropic causes. He has an extensive history in executive leadership and governance roles of large, diverse organizations. Most recently, Mr. Adams served as a member of the board of directors and Chairman of the Audit Committee for Harvest Health & Recreation Inc. from December of 2019 through the recent completion of its acquisition by Trulieve Cannabis Corp. (CSE: TRUL), which formed the world’s largest legal seller of cannabis by revenue.

Mr. Adams is a graduate of Morris Brown College with a Bachelor of Science degree in accounting, a Master of Business Administration from Harvard Business School, and is a Certified Public Accountant. He spent 20 years with Deloitte (Public Accounting, Taxation and Management Consulting), was the former Executive Vice President of First Data Corporation (Payments and Money Transfer); the former Senior Vice President of Sun Microsystems (Computer Servers, Storage Devices, Software and Services); and a former member of the Board of Directors of MasterCard (U.S. Region). His corporate rise led him to be named one of the 50 most powerful black executives by Fortune in July of 2002.

Mr. Adams serves a number of public sector and non-profit positions and his memberships include: American Institute of CPAs; White House Historical Association National Council; Colorado Society of CPAs; United Way of Colorado; Board of Directors Grow Generation; Congressional Black Caucus Foundation; Sigma Pi Phi Fraternity; Kappa Alpha Psi Fraternity; CareerWise Colorado Board; Volunteers of America Board; Denver International Airport Advisory Board; Colorado Department of Transportation; and New Hope Baptist Church Board of Trustees.

Lily Dash, ESQ – Ms. Dash’s background includes extensive governance, legal, transactional and emerging markets experience. Ms. Dash is a practicing lawyer, a dynamic entrepreneur with global experience, and a visionary technology and ESG founder. Ms. Dash’s vast experience and perspective will support the Company’s growth and expansion. Ms. Dash is a Chairwoman of the Board of Directors of Polymath Inc, Member of the Board of Directors of Earth Wallet, and Founder of Villabound Inc., Rexy Inc., and Co-Founder of WiFetch Inc.

Mr. Kevin Harrington – Mr. Harrington is a veteran CEO, bestselling author and platform-building entrepreneur known to millions as one of the original “sharks” on the 4x Emmy- winning ABC series Shark Tank. His many landmark achievements include inventing the infomercial, pioneering the As Seen on TV brand, co-founding the Electronic Retailers Association (ERA), serving as a co-founding board member of the Entrepreneurs’ Organization (EO) and creating HSN Direct as a joint venture with the Home Shopping Network. Twenty of his companies have each topped $100 million in revenue, and his behind-the-scenes work has helped produce billions more in global sales. He’s launched massively successful products like The Food Saver, Ginsu Knives, The Great Wok of China, The Flying Lure, and many more. He has worked with amazing celebrities like Billie Mays, Tony Little, Jack Lalanne, and George Foreman to name a few. Mr. Harrington then built on that success to help pioneer the As Seen on TV brand.

In 2013 after divesting of the As Seen on TV brand, Mr. Harrington joined the Board of Directors of an emerging start-up in the functional beverage space; Celsius Holdings Inc. (NASDAQ: CELH) (“Celsius“), which at the time had a share value of $0.22 and a total market cap of less than $10 million. Since then, Celsius has grown into a leading brand in the functional and energy beverage categories. Mr. Harrington served on the Board of Directors of Celsius until August 19th, 2021. Today, Celsius is valued at greater than $7.2 billion, and the share price is greater than $94 per share.

Brett Mecum – Mr. Mecum is an innovative and seasoned government relations professional with a record of success at the federal, state, and local level throughout the country. He is known for an ability to build long term relationships, collaborate with stakeholders, and engage organizational grassroots to ensure legislative policy goals are met. He is an expert at understanding legislative processes, bill drafting, and budget appropriations at all levels of government, and is an experienced political operative and fundraiser with expertise running high energy and high- profile political campaigns, political action committees, and independent expenditure committees.

Mr. Mecum is the Chief Executive Officer of a full-service government relations firm representing corporate, association, and non-profit sector clients in 12 state legislatures through policy development of short and long-term legislative objectives. He has managed 20+ programs that provide meaningful engagement for association members with lawmakers, successfully ended increased taxation schemes on Premium Cigars in Minnesota, Nebraska and New York; curbed new over-regulation of the premium cigar industry in Oklahoma and was the only lobbyist to successfully amend the Arizona Medical Marijuana Act with implementation of testing protocols and new regulatory enforcement of the industry by the Arizona Department of Health Services. Mr. Mecum is also regarded as a policy expert in the Blockchain and Cryptocurrency space and was the catalyst behind the state of Arizona creating its first Blockchain and Cryptocurrency task force.

About Hollister Biosciences

Hollister Biosciences is a multi-state company with a portfolio of innovative, high-quality cannabis & hemp branded consumer products and white-labeling manufacturing. The Company’s products are sold in 370 dispensaries across Arizona and California. Hollister Biosciences wholly-owned brand, Venom Extracts, is a category-leading brand that sold more than 4 million grams in 2020, accounting for up to 30% of category sales in Arizona.

Products from Hollister Biosciences include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products and full-spectrum high CBD pet tinctures. The Company’s wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA, birthplace of the “American Biker”.

Website: www.hollisterbiosciences.co

SOURCE Hollister Biosciences Inc.

For further information: Company Contact: Joshua Lavers: [email protected], Tel: (416) 644-2020 or (212) 812-7680

News

Hollister Announces Receipt of Decision from Ontario Securities Commission

Post author By Lidija
Post date November 2, 2021
No Comments on Hollister Announces Receipt of Decision from Ontario Securities Commission

VANCOUVER, BC, Nov. 2, 2021 /CNW/ – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) is pleased to announce that in connection with its upcoming annual general and special meeting of shareholders (the “AGM“), the Company has received an order from the Ontario Securities Commission granting Hollister an exemption from certain provisions governing disclosure and other matters applicable to issuers with outstanding “restricted securities”.

As further described in the Company’s management information circular dated October 18, 2021, if the shareholders of the Company approve the creation of a new class of shares designated as proportionate voting shares, the common shares of the Company will become “restricted securities” upon filing a notice of alteration to Hollister’s articles in accordance with the provisions of the Business Corporations Act (British Columbia). While the proportionate voting shares will have more voting rights, on a per share basis, than the common shares, the voting rights will be proportionate with the economic rights of such class.

If approved at the AGM, holders of proportionate voting shares will be entitled to 1,000 votes in respect of each proportionate voting share held. No dividend will be declared or paid on the proportionate voting shares unless the Company simultaneously declares or pays, as applicable, equivalent dividends (on an as converted to common share basis) on the common shares. In addition, each proportionate voting share will be convertible into 1,000 common shares.

About Hollister Biosciences Inc.

Hollister Biosciences Inc. is a multi-state cannabis house of brands with a portfolio of innovative, high-quality consumer packaged products. The Company produces its own branded products and provides white-labeling manufacturing for other leading brands. The Company’s products are sold in 370 dispensaries across Arizona and California. Venom Extracts, a wholly-owned subsidiary of the Company is a category-leader which sold over 4 million grams of cannabis in 2020, accounting for up to 30% of dabbable concentrate category sales in Arizona.

Products of the Company include Venom Extracts branded concentrates; shatter, budder, crumble, distillates, and HashBone, a premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, branded and white-label pre-rolls, tinctures, vape products and full-spectrum high CBD pet tinctures.

Website: www.hollisterbiosciences.co

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

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 US 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.

SOURCE Hollister Biosciences Inc.

For further information: Company Contact: Joshua Lavers: [email protected], Tel: (416) 644-2020 or (212) 812-7680