CALGARY, Alberta, June 18, 2019 (GLOBE NEWSWIRE) -- YSS Corp.™ (the “Company” or “YSS”) (YSS.V) (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.”
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
Phone: (403) 455-7656
Suite 1000, 350-7th Ave SW
Calgary, AB T2P 3N9
5 Quarters Investor Relations, Inc.
(403) 231-4372 or email@example.com
|Stephanie Bunch, CA |
Vice President, Finance and Chief
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.