YSS Corp. Announces Receipt of Cannabis Retail License for Additional Calgary Location
June 18 2019 - 6:00AM
YSS Corp.™ (the “
Company” or
“
YSS”) (TSXV: YSS) (WKN: A2PMAX) is pleased to
announce that the Company has received a cannabis retail license
from the Alberta Gaming, Liquor and Cannabis Commission
(“
AGLC”) under the Sweet Tree Modern Apothecary
Ltd. (“
Sweet Tree”) brand to open a cannabis
retail store located near the Sunridge Mall shopping complex
situated along 36th Street in Northeast Calgary (“
Sweet
Tree Sunridge”) with extensive parking and conveniently
located close to public transit.
The Company anticipates that Sweet Tree Sunridge
will open in early July. Once opened, Sweet Tree Sunridge
will represent the Company’s fourth licensed-operating location in
Alberta and the third licensed-operating location in
Calgary.
“We are thrilled to welcome new and existing
customers to our third Calgary Sweet Tree location, conveniently
located near Sunridge Mall,” said Theo Zunich, President and CEO of
YSS. “A key strategic rationale for our transaction with
Sweet Tree, which closed June 13, was to accelerate cash flow and
profitability for YSS. The receipt of this AGLC license
represents another critical milestone to secure near and
longer-term sustainability within the rapidly expanding and
evolving cannabis industry.”
Additional Information
For additional information regarding YSS Corp.
please see the Company’s website at www.ysscorp.ca and filings
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 cannabis retailer with the vision to become a
premier retailer and trusted destination for cannabis in Canada.
YSS Corp. has a licensing agreement and call right on four
operating stores in Red Deer and Calgary, one additional AGLC
inspected location and three locations for future
construction. Organically, YSS has built and received AGLC
inspections on six additional Alberta stores, has one location in
Edmonton, Alberta nearing completion of construction and maintains
a strategic portfolio of leased and prospective locations that
represent future organic growth potential. YSS management
brings excellence across capital markets, 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.
Investor or Media
Contacts:
Theo Zunich President, Chief
Executive Officer and Director Phone: (403) 455-7656 YSS Corp.
Suite 1000, 350-7th Ave SW Calgary, AB T2P 3N9
investor@ysscorp.ca OR Cindy Gray 5 Quarters Investor
Relations, Inc. (403) 231-4372 or info@5qir.com |
Stephanie Bunch, CA Vice
President, Finance and Chief Financial Officer Phone: (403)
455-7656 |
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’s retail cannabis business
strategy, including organic growth and strategic activities; the
timing of opening Sweet Tree Sunridge; 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; 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; 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 and MD&A 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.
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.
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