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YourWay Operational Update and Company Highlights

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.


[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

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News

YourWay Cannabis Brands Provides Corporate Update

Vancouver, BC, September 12, 2022 – YourWay Cannabis Brands Inc. (CSE:YOUR) (OTC:YOURF) (FSE:HOB) (“YourWay” or the “Company“) announces today that Jacob Cohen has resigned as Chief Executive Officer of YourWay effective immediately. Mr. Cohen will continue to serve as President of Arizona Operations and as a director on the Company’s board of directors (the “Board”).

The Company’s Executive Chairman, Jakob Ripshtein, will assume the position of Acting Chief Executive Officer, effective immediately. Mr. Ripshtein was appointed as Chairman of the Board in 2021 and as Executive Chairman earlier this year. He previously served as the President of Aphria Inc., which was acquired by Tilray Brands Inc., where he was responsible for corporate strategy, marketing, and sales. 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. 

In addition, the Board resolved to demand repayment of all amounts advanced to Ionic Brands Corp. (“Ionic”) pursuant to a demand promissory note dated May 20, 2022. YourWay has provided notice to Ionic of its demand for repayment.  

YourWay continues to work diligently to finalize the Company’s audited annual financial statements for the year ended December 31, 2021 and the related management’s discussion and analysis (the “Annual Filings”) as well as the Company’s unaudited interim financial statements for the three months ended March 31, 2022 and the related management’s discussion and analysis (the “Interim Filings”). Once the Annual Filings and Interim Filings are completed, the Company will apply to have the British Columbia Securities Commission and the Ontario Securities Commission (on behalf of the applicable Canadian securities regulatory authorities) revoke the general “failure to file” cease trade order (the “CTO”) dated May 9, 2022 pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. YourWay anticipates that trading of the common shares on the Canadian Securities Exchange (the “CSE”) will recommence shortly after revocation of the CTO. Further details will be provided in the coming weeks.

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 control 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 

YourWay Contacts:

Glen Shear

Head of Investor Relations

[email protected]

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 the Meeting. 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 repayment of the funds advanced to Ionic; the filing of the Annual Filings; the filing of the Interim Filings; the revocation of the CTO; the reinstatement of trading of the common shares on the CSE; 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.

Categories
News

YourWay Cannabis Brands Provides Corporate Update

Vancouver, BC, August 8, 2022 – YourWay Cannabis Brands Inc. (CSE:YOUR) (OTC:YOURF) (FSE:HOB) (“YourWay” or the “Company“) held it annual general and special meeting (the “Meeting”) of shareholders of the Company (the “Shareholders”) today. The Meeting was terminated prior to any business being conducted as the Company’s audited annual financial statements for the year ended December 31, 2021 and the related management’s discussion and analysis (the “Annual Filings”) as well as the Company’s unaudited interim financial statements for the three months ended March 31, 2022 and the related management’s discussion and analysis (the “Interim Filings”) have not yet been finalized. 

Once the Annual Filings and Interim Filings are completed, the Company will call another meeting of Shareholders and will apply to have the British Columbia Securities Commission and the Ontario Securities Commission (on behalf of the applicable Canadian securities regulatory authorities) revoke the general “failure to file” cease trade order (the “CTO”) dated May 9, 2022 pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. YourWay anticipates that trading of the common shares on the Canadian Securities Exchange (the “CSE”) will recommence shortly after revocation of the CTO. Further details will be provided to Shareholders in the coming weeks.

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 control 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.

YourWay Contacts:

Glen Shear, Head of Investor Relations

[email protected]

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 the Meeting. 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 filing of the Annual Filings; the filing of the Interim Filings; the revocation of the CTO; the reinstatement of trading of the common shares on the CSE; 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.

Categories
News

YourWay Cannabis Brands Reminds Shareholders of Annual General and Special Meeting and Provides Details of Meeting Procedures

VANCOUVER, BC, Aug. 5, 2022 /CNW/ – YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company“) reminds the shareholders of the Company (the “Shareholders“) about the upcoming annual general and special meeting (the “Meeting“) of Shareholders. If Shareholders wish to attend the Meeting, they may do so by calling 877-407-3088 (toll-free within North America) or 201-389-0927 (International). Shareholders are also reminded to have their 12-digit control number available when dialing into the Meeting.

The Meeting is scheduled to take place on August 8, 2022 at 1:00 p.m. EST. Upon dialing into the Meeting, registered Shareholders and their duly appointed proxyholders will be provided with the following link to the AGM Connect online voting platform: www.agmconnect.com/yourway2022

For any matter at the Meeting that is conducted by way of ballot, registered Shareholders and duly appointed proxyholders will be asked to visit the AGM Connect online voting platform and select VOTE NOW where they may enter the meeting code YOURWAY and login using their 12-digit control number.

Each registered holder of common shares of the Company would have received a control number with their meeting materials mailed by the Company on July 5, 2022 and each registered holder of proportionate voting shares of the Company will receive a control number in an email from the Company or its counsel prior to the Meeting. Registered Shareholders and duly appointed proxyholders will use their control number to login and vote through the AGM Connect platform. Only registered Shareholders and duly appointed proxyholders will be entitled to access the AGM Connect online voting platform and vote live during the Meeting.

It is crucial that each registered Shareholder and duly appointed proxyholder has their control number should they wish to vote. Without a control number you will be unable to vote. 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 control 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:

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 the Meeting. 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 time and place of the Meeting; the use of the AGM Connect online voting platform at the Meeting; and process for voting at the Meeting. 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 events subject to the internal investigation, 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: YourWay Contacts: Glen Shear, Head of Investor Relations, [email protected]; For media inquiries, please contact: [email protected]; For investor inquiries, please contact: [email protected]

Categories
News

YourWay Cannabis Brands Inc. Applies for Management Cease Trade Order

VANCOUVER, BRITISH COLUMBIA – May 16, 2022 – YourWay Cannabis Brands Inc. (CSE: YOUR) (the “Company”) announced today that, it anticipates it may be delayed in filing its unaudited interim financial statements for the three months ended March 31, 2022 (the “Q1 Financial Statements”), the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Q1 Filings”) by the regulatory filing deadline of May 30, 2022 (the “Filing Deadline”) in accordance with National Instrument 51-102 – Continuous Disclosure Obligations. The potential late filing is the result of a number of factors, including (i) the complexity associated with a change of the Company’s auditors which took effect on December 6, 2021; (ii) changes in the personnel of the Company requiring additional time to support the auditors; and (iii) further to the Company’s press release dated May 2, 2022 and May 10, 2022, the related delay and associated complexities with respect to the completion of the Company’s audited annual consolidated financial statements for the year ended December 31, 2021. The Company will work diligently to complete the Q1 Financial Statements and anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the process of preparing the Q1 Filings and in any event will use its best efforts to complete the process within the next two months.

As a result of the anticipated delay in filing the Q1 Filings, the Company has applied to the British Columbia Securities Commission, as principal regulator of the Company, to request a management cease trade order (the “MCTO”) be issued in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), assuming that the Company’s general “failure to file” cease trade order (the “CTO”) pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions dated May 9, 2022 has been revoked before the Filing Deadline.

During the period in which the MCTO is in effect, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, for the duration of the MCTO, the Company’s Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company’s common shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of the Filing Deadline. The Company has also imposed an insider trading blackout pending filing of the Q1 Filings. The Company confirms that it will comply with the alternative information guidelines set forth in NP 12-203 for so long as it remains in default of the requirement to file the Q1 Filings. The Company is not subject to any insolvency proceedings. If granted, the MCTO will remain in effect until the Company files the Q1 Filings or the MCTO is otherwise revoked or varied.

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 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.

For further information, please contact:

YourWay Cannabis Brands Inc.

Glen Shear

Head of Investor Relations

Tel: 437 218-1445

Email: [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 Q1 Filings, including the anticipated delay in filing the Q1 Filings, the ability of the Company to file the Q1 Filings by the timelines set out in this news release, the potential granting of an MCTO as well as the ability of the Company to be in compliance with NP 12-203, the potential revocation of the CTO 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 Company may not complete and file the Q1 Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the MCTO is not granted and/or the Q1 Filings are not completed and filed; the Company may not be able to comply with NP 12-203; 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.

Categories
News

YourWay Cannabis Brands announces delay in filing 2021 financial results

VANCOUVER, BRITISH COLUMBIA – May 2, 2022 – YourWay Cannabis Brands Inc. (CSE: YOUR) (the “Company”) announced today that, 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 personnel of the Company requiring additional time to support the auditors, the filing of its audited annual financial statements for the year ended December 31, 2021, the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Annual Filings”) will not be completed by the prescribed deadline of May 2, 2022 (the “Filing Deadline”).

As disclosed in the Company’s news release on April 29, 2022, the Company applied to the British Columbia Securities Commission (the “BCSC”) for the issuance of a management cease trade order in connection with the Company’s anticipated delay in filing the Annual Filings. This application was rejected and as such, the Company expects that a failure to file cease trade order pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions (a “CTO”) will be imposed against the Company shortly after the Filing Deadline, which will prohibit the trading by any person of any securities of the Company in Canada, including trades in the Company’s common shares made through the Canadian Securities Exchange. Once issued, the CTO will remain in place until such time as the Annual Filings are filed by the Company, currently expected before May 31, 2022. 

The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed. 

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 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 

For further information, please contact: 

YourWay Cannabis Brands Inc.

Glen Shear 

Head of Investor Relations

Tel: 437 218-1445

Email: [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 Annual Filings, including the anticipated delay in filing the Annual Filings, the timing to complete the Company’s audit, the ability of the Company to file the Annual Filings by the timelines set out in this news release, the issuance and duration of a CTO imposed against the Company, andexpectations 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 Company may not complete its audit and file the Annual Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the Annual Filings are not completed and filed; 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.

Categories
News

YourWay Cannabis Brands applies for Management Cease Trade Order

VANCOUVER, BRITISH COLUMBIA – April 29, 2022 – YourWay Cannabis Brands Inc. (CSE: YOUR) (the “Company”) announced today that it anticipates delays in filing its audited annual financial statements for the year ended December 31, 2021 (the “Annual Financial Statements”), the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Annual Filings”) 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 personnel of the Company requiring additional time to support the auditors. The Company will work with its auditors to complete the audit of the Annual Financial Statements and anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the process of preparing the Annual Filings and in any event will use its best efforts to complete the process within the next two months. 

As a result of the anticipated delay in filing the Annual Filings, the Company has applied to the British Columbia Securities Commission to request a management cease trade order (the “MCTO”) be issued in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). 

During the period in which the MCTO is in effect, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, for the duration of the MCTO, the Company’s Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company’s common shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of May 2, 2022, being the date of the Company’s anticipated continuous disclosure default. The Company has also imposed an insider trading blackout pending filing of the Annual Filings. The Company confirms that it will comply with the alternative information guidelines set forth in NP 12-203 for so long as it remains in default of the requirement to file the Annual Filings. The Company is not subject to any insolvency proceedings. The MCTO will remain in effect until the Company files the Annual Filings or the MCTO is otherwise revoked or varied.

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 and California. Through 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 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.

For further information, please contact: 

YourWay Cannabis Brands Inc.

Glen Shear 

Head of Investor Relations

Tel: 437-218-1445

Email: [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 Annual Filings, including the anticipated delay in filing the Annual Filings the timing to complete the Company’s audit, the ability of the Company to file the Annual Filings by the timelines set out in this news release, the potential granting of an MCTO as well as the ability of the Company to be in compliance with NP 12-203, 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 Company may not complete its audit and file the Annual Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the MCTO is not granted and/or the Annual Filings are not completed and filed; the Company may not be able to comply with NP 12-203regulatory 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.

Categories
News

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.

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 YourWay and Ionic Brands believe 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 YourWay and Ionic Brands.

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.

Categories
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: 

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: Mr. Ripshtein’s speaking engagement at the Benzinga Cannabis Capital Conference; the Company’s strategy of building a comprehensive family of brands; the Company’s approach to creating a differentiated portfolio of brands; the implementation of the Company’s ‘House of Brands’ cannabis consumer packaged goods strategy; investor and discovery meetings with the Company’s management team; 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: 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]

Categories
News

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

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: 

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 commencement of Ms. Ceccacci’s role as CFO of the Company; the Company’s intended expansion into new markets, categories and the introduction of new brands; the Company’s commitment to building a portfolio of brands focused on satisfying customer needs and delivering shareholder value; 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: 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: For media inquiries, please contact: [email protected]; For investor inquiries, please contact: [email protected]