CALGARY, Nov. 7, 2019 /CNW/ - YSS Corp.™
("YSS" or the "Company") (TSXV: YSS) (WKN:
A2PMAX), a premier Canadian cannabis retailer operating under
the YSS and Sweet Tree brands, is excited to open trading on
TMX Group's markets from the YSS Woodbine store in Calgary on Tuesday,
November 12, 2019. The event will mark the first time
TMX has opened from a retail location of any kind in western
Canada.
"Western provinces have provided robust frameworks within
cannabis legalization that support business growth, job creation
and tax income, while ensuring safe access to legal cannabis," said
Theo Zunich, President and CEO of
YSS Corp. "As a Calgary-based
cannabis retailer, we are very proud to be the first company in
western Canada to open TMX's
markets from a retail store."
Operational Update
- YSS currently has 13 operating stores, eight of which
operate under the YSS brand (Calgary - Woodbine, Edmonton - NW Landing, Red Deer, Vermilion, Stony
Plain, Vegreville,
Spruce Grove and Lloydminster) and five of which operate under
the Sweet Tree brand (Calgary -
Riverbend, Calgary - Forest Lawn, Calgary - Sunridge, High River and Swift
Current, Saskatchewan).
- The Company is pleased to announce that its 14th
store, Sweet Tree Okotoks, has passed the final Alberta Gaming,
Liquor and Cannabis Commission ("AGLC") inspection and will open
immediately upon receiving its first cannabis delivery, which is
anticipated in the next three weeks.
- The Company's two Calgary
flagship stores, YSS 4th Avenue and Sweet Tree
17th Avenue, are nearing completion and are targeted for
AGLC final inspection by the end of the month, with the objective
to open before Christmas.
- Construction is underway on a further two YSS locations in
Grand Prairie.
- In addition, the Company is in late-stage planning on three
locations, one in each of Calgary, Edmonton and Drumheller.
- YSS plans to issue Q3 2019 financial and operating results
after market on November 26,
2019.
"With our first full year of legalization behind us, it is an
exciting time for YSS. We have new store openings on the horizon,
continually improving cannabis product quality coupled with
decreasing wholesale prices, and new cannabis formats hitting the
market in early 2020, including oil vaporizers, beverages, edibles,
concentrates and topicals," said Zunich. "We offer our
customers a curated menu of cannabis products in a welcoming retail
experience and our investors a unique investment opportunity. We
have built a robust business model and are poised to continue
expanding at a measured pace, while striving to increase revenues
and expand profit margins."
The Company is committed to becoming the trusted destination for
cannabis in Canada by creating and
delivering a premier in-store retail experience through
understanding customer demands and data, implementing standardized
procedures, investing in brand and retail design, offering
interactive in-store technology, and developing an experienced and
welcoming team. YSS views the continued investment in
customer experience as instrumental to establishing customer
loyalty, brand recognition and ultimately, future business.
Additional Information
For information on store locations and opening dates please
visit www.ysscorp.ca, www.sweettreecannabis.com and follow
both our operating brands on social media.
For additional information regarding YSS and to access an
updated corporate presentation, please see the Company's website at
www.ysscorp.ca/investors. Corporate and financial
filings are available under the Company's profile on SEDAR
at www.sedar.com.
About YSS Corp.
With retail operations under the YSSTM and
Sweet TreeTM brands, YSS Corp. is a premium
cannabis retailer and the trusted destination to explore and
discover cannabis in Canada. YSS operates 13 locations
in Calgary, Edmonton, Red
Deer, High River,
Spruce Grove, Stony Plain, Vermilion, Lloydminster, Vegreville and Swift
Current under the YSS and Sweet Tree brands. In
addition, YSS maintains a strategic portfolio of under
construction, secured and prospective locations that represent
future organic growth potential for the Company. YSS
management brings proven expertise across capital markets, retail
operations, hospitality, cannabis, financial management and a
strong commitment to deliver shareholder value by leveraging
high-quality opportunities within this exciting new industry.
The YSS retail experience is built on our five fundamental pillars:
convenience, value, selection, team, and above all else, trust.
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements
including opinions, assumptions, estimates, the Company's
assessment of future plans and operations, and, more particularly,
statements concerning: YSS' retail cannabis business strategy,
including organic growth and strategic activities; opening trading
on TMX Group's markets from the YSS Woodbine store in Calgary on Tuesday,
November 12, 2019; the opening, licensing, inspection,
construction and planning of YSS retail stores and the timings
thereof; issuing YSS' Q3 2019 financial and operating results and
timing thereof; improving cannabis quality and decreasing wholesale
prices; availability of new cannabis formats, including oil
vaporizers, beverages, edibles, concentrates and topicals and
timing thereof; increase in revenue and expanding profit margins;
the ability to build, own and operate additional retail cannabis
stores; the receipt of necessary permits and licenses to open
stores and the ability to capitalize on potential opportunities
that may arise and the ability to exercise thereon. When used in
this document, the words "will," "anticipate," "believe,"
"estimate," "expect," "intent," "may," "project," "should," and
similar expressions are intended to be among the statements that
identify forward-looking statements. The forward-looking statements
are founded on the basis of expectations and assumptions made by
the Company. Forward-looking statements are subject to a wide range
of risks and uncertainties and, although the Company believes that
the expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized. Any number of important factors could cause actual
results to differ materially from those in the forward-looking
statements including, but not limited to: regulatory and third
party approvals not being obtained in the manner or timing
anticipated, including AGLC inspections and licenses and those
relating to new cannabis formats; the ability to implement
corporate strategies; the state of domestic capital markets; the
ability to obtain financing; changes in general market conditions;
industry conditions and events; the size of the recreational
cannabis market; changing customer habits; the availability of
cannabis-retail products from licensed producers, including new
cannabis formats; government regulations, including future
legislative and regulatory developments involving recreational
cannabis; competition from other industry participants; and other
factors more fully described from time to time in the reports and
filings made by the Company with securities regulatory authorities.
Please refer to the Company's annual information form and
management's discussion and analysis for the year ended
December 31, 2018 for additional risk
factors relating to the Company, which can be accessed under the
Company's profile on www.sedar.com.
Except as required by applicable laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statements.
This news release contains future-oriented financial
information and financial outlook information (collectively,
"FOFI") about the Company's investments, revenue, gross margin and
cash flow, which are subject to the same assumptions, risk factors,
limitations, and qualifications as set forth in the above
paragraphs. FOFI contained in this document was approved by
management as of the date of this document and was provided for the
purpose of providing further information about YSS' future business
operations. YSS disclaims any intention or
obligation to update or revise any FOFI contained in this document,
whether as a result of new information, future events or otherwise,
unless required pursuant to applicable law. Readers are cautioned
that the FOFI contained in this document should not be used for
purposes other than for which it is disclosed herein.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
SOURCE YSS Corp.