AskMuncher
3 years ago
$GABLF GABY Owned Mankind Dispensary Joins Inc. Magazine’s 2021 List of America’s Top 5,000 Growing Companies
Press Release | 09/08/2021
SAN DIEGO, CA / ACCESSWIRE / September 8, 2021 / GABY Inc. ("GABY" or the "Company") (CSE:GABY) (OTC PINK:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary ("Mankind"), proudly announces the inclusion of Mankind in the Inc. Magazine's top 5,000™ list of fastest growing companies in the United States.
Companies on the 2021 Inc. 5000 list are ranked according to percentage revenue growth from 2017 to 2020. Ranked at number 2,039 on the list, Mankind is recognized by Inc. Magazine for its three-year growth rate of 217%. This prestigious recognition is fueled by a combination of Mankind's customers and their brand loyalty, a curated customer experience unique to Mankind, and a highly experienced and successful management team with deep knowledge of both cannabis and retail operations.
Margot Micallef, Founder, and CEO of GABY Inc. commented "The honor of being included in this year's list further supports GABY's decision to acquire Mankind and make it the anchor to our retail expansion across California. It proves that our operational procedures and retail experience are valued assets as we continue to consolidate dispensaries in California. Thanks to a stellar team, we continue to see strong sales in 2021, even in the uncertain market created by the pandemic."
As customer retention remains a strength of Mankind, with 88% of purchases made by repeat buyers, Mankind continues to push into new acquisition channels, and provide diverse and exciting cannabis offerings in-store to help further cement its reputation as one of Southern California's premier cannabis destinations.
About GABY Inc.
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Lulu's™ and Kind Republic™, through Mankind, manufactures Kind Republic, and distributes all its proprietary brands through its wholly owned subsidiary, Wild West Industries. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY's shares trade on the Canadian Securities Exchange ("CSE") under the symbol "GABY" and on the OTC under the symbol "GABLF". For more information on GABY, visitGABYInc.com
Media Contact:
Senior Communications Manager
Charlie Rohlfs
(631)579-0858
charlie@gabyinc.com
General
Margot Micallef, Founder & CEO
or Investor Relations at IR@GABYinc.com or 800-674-2239.
Disclaimer and Forward-Looking Information
The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, the Company's future operational, expansion and acquisition plans and anticipated growth of the Company during the remainder of 2021. Although GABY believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because GABY can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Without limitation, these risks and uncertainties include: the severity of the COVID-19 pandemic; risks associated with the cannabis industry in general; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal, state and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; the size of the medical-use and adult-use cannabis market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; failure to comply with certain regulations; and departure of key management personnel or inability to attract and retain talent. GABY undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Each of Mankind and Wild West Industries, are subsidiaries of GABY and hold a cannabis license in the State of California. Readers are cautioned that unlike in Canada which has Federal 032320-F legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), in the United States ("U.S."), cannabis is largely regulated at the State level. Cannabis is legal in the State of California; however, cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY's subsidiaries are conducted in a manner consistent with the State law of California, as applicable, and are in compliance with regulatory and licensing requirements applicable in the State of California, respectively. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiary of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiary. Any such proceedings brought against GABY, or its subsidiary may materially adversely affect the Company's operations and financial performance generally in the U.S. market specifically.
SOURCE: GABY Inc.
View source version on accesswire.com:
https://www.accesswire.com/663141/GABY-Owned-Mankind-Dispensary-Joins-Inc-Magazines-2021-List-of-Americas-Top-5000-Growing-Companies
AskMuncher
3 years ago
$GABLF GABY Inc. Reports Q2 2021 Record Revenue of $11.3MM and a Gross Profit Margin of 35%
Press Release | 08/31/2021
Mankind Dispensary Acquisition yields substantial returns
SAN DIEGO, CA / ACCESSWIRE / August 31, 2021 / GABY Inc. ("GABY" or the "Company") (CSE:GABY)(OTC PINK:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary ("Mankind Dispensary"), is pleased to announce record second quarter revenue of $11.3 million and record gross profit of $3.9 million compared to $0.7 million and $0.0 million, respectively, the same quarter last year.
Gross margin for the period was a record high of 35.0% and compares to 2.9% the same quarter last year. Adjusted EBITDA(1) improved to $0.9 million from negative $1.6 million the same quarter last year. The improvements were primarily attributable to the higher volumes and margins generated from the acquisition of Mankind Dispensary on April 1, 2021.
For the second quarter of 2021 the net loss was $1.6 million compared to a net loss of $1.7 million with the increase in Adjusted EBITDA being mostly being offset by an increase in income tax expense on taxable operations and higher interest expense on the notes issued in respect of the Mankind transaction.
While significantly improved over Q2-2020 and over last quarter, Adjusted EBITDA numbers were negatively impacted mostly from operating two distribution entities, which, as of August 2021, have been consolidated into a single hub in the Company's new headquarters in San Diego. GABY will continue to rationalize its asset base and expects to shed further costs thereby improving Adjusted EBITDA in the future.
"I'm thrilled by the immediate and notable success we are seeing from our acquisition of Mankind Dispensary, and the launch of our cannabis brand, Kind Republic, which we are anticipating will reach $2 million in gross sales by the end of the year," said Margot Micallef, Founder, and CEO of GABY. "We are projecting sustainable growth across key metrics as we move forward with our plans to add more dispensaries to the GABY retail portfolio as well as continuing to improve operational efficiencies and extract further synergies from Mankind."
"These encouraging Q2 results offer a tangible glimpse into the continuously improving operations at GABY, both for our shareholders and potential acquisition targets", said Marshall Minor, CFO of GABY. "We look forward to bringing new retail brands into the fold and continuing to evaluate and upgrade our internal operations as we head into another chapter of growth."
ABOUT GABY
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known and highly respected dispensary with deep roots in the California cannabis community operating in San Diego. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Kind Republic™ and Lulu's™ through Mankind and manufactures and distributes its brands through its wholly owned subsidiary, Wild West Industries™, also based in San Diego. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY's shares trade on the Canadian Securities Exchange ("CSE") under the symbol "GABY" and on the OTC under the symbol "GABLF". For more information on GABY, visit www.GABYInc.com
For further inquiries, please contact:
General
Margot Micallef, Founder & CEO or Investor Relations at IR@GABYinc.com or 800-674-2239.
Media
Senior Communications Manager
Charlie Rohlfs
(631)579-0858
charlie@gabyinc.com
Gone Postal
6 years ago
SANTA ROSA, CA and CALGARY, June 3, 2019 /CNW/ – Gabriella’s Kitchen Inc. (“GABY” or the “Company“) (CSE: GABY) (OTCQB: GABLF), a market-leader in the North American cannabis wellness space, is pleased to announce that its common shares have been approved for listing on the OTCQB Venture Market (“OTCQB“), a U.S. trading platform that is operated by the OTC Markets Group in New York. Effective June 3, 2019, the Company will commence trading on the OTCQB under the symbol “GABLF”. The Company’s common shares will continue to trade on the Canadian Securities Exchange (“CSE“) under the symbol “GABY”.
In respect of the OTCQB listing, Margot Micallef, CEO of GABY commented, “We are thrilled to announce the listing of GABY’s common shares on the OTCQB exchange, which we believe further establishes GABY as an innovative and leading-edge North American cannabis wellness company with broad appeal. GABY anticipates this additional listing on the OTCQB will provide increased opportunity for shareholder liquidity, as well as enhanced market access for American institutional and retail investors seeking to become a part of the GABY story.”
About Gabriella’s Kitchen Inc.
GABY is a U.S.-focused, consumer packaged goods company operating a “house of brands” in the cannabis industry and in the mainstream grocery channel. Through its wholly-owned subsidiaries The Oil Plant, Inc. (“TOP“) and Sonoma Pacific Distribution, Inc. (“Sonoma Pac“), GABY holds a manufacturing and a distribution license issued by the California Department of Health and the California Bureau of Cannabis Control respectively. With these licenses to operate in the cannabis channel, and its existing infrastructure of major retailers and an extensive broker and distribution network in the mainstream channel, GABY is positioned to bring its proprietary, acquired and third-party brands to market in both the licensed and mainstream market.
Margot and her sister Gabriella co-founded GABY after Gabriella received a dire cancer diagnosis which spurred the sisters to prolong Gabriella’s life through a holistic approach to health. Today, GABY is a wellness company with a diverse range of products that use cannabis and hemp derived CBD to address a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through GABY’s mission: to empower people to live healthy lives without compromise.
To learn more, please visit the Company’s website at www.gabyinc.com.
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