Vancouver, British Columbia, March 2, 2022 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (“society” Also “Just a good brand” Also “SBBC(TSX Venture: SBBC) (OTCQB: PKANF) is pleased to announce the growth plan for the PureKana wellness brand.
SBBC includes a portfolio of emerging brands focused on the health and wellness of Millennials and Generation Z in the area of fast-growing plant-based natural and clean ingredients. The company’s brand is distributed on both e-commerce platforms and retail channels in physical stores. SBBC’s major brands are PureKana (CBD & Wellness), TRUBAR (plant-based nutrition) and No BS skin care (clean ingredient skin care).
One of the early entrants to the CBD wellness space, PureKana has historically raised significant revenue from its direct sales site (purekana.com). After proving the brand’s success with retailers such as Rite Aid (drugs), CBD Emporium (specialty) and United Pacific (convenience), PureKana is now a nationwide omni-channel with a consumer-centric portfolio through shopping trip missions. We are investing in a sales organization.
In addition to growing through distribution expansion, the PureKana brand will be able to accommodate a wider variety of wellness areas. Now, with offerings in the areas of pain, calm, sleep and immunity, the footprint of innovation will include providing recreation, weight management and focus acuity. For example, in March 2022, we will launch sugar-free pure Kanaketogumi containing BHB salt as an active ingredient nationwide. “Pure Kana started out as a CBD brand, but consumers believe it has the ability to span multiple health and wellness categories as part of their daily lives. SBBC CEO Kathy Casey said: It states as follows.
Just a good brand 2022 outlook
Unaudited interim net sales in 2021 are expected to be between $ 15.8 million and $ 16.0 million in net sales of $ 13.8 million achieved in 2020. Interim net sales for the fourth quarter are expected to be between $ 6.6 million and $ 6.8 million.
The interim unaudited gross profit for the fourth quarter and 2021 is expected to be consistent with the nine months of gross profit (59% of net sales) ending September 30, 2021. Our audited financial statements for the period ending December 31, 2021 will be filed on April 30, 2022.
We expect consolidated net sales in 2022 to be between $ 32 million and $ 35 million. At the lower end of the forecast, net sales of US $ 32 million are 200% higher than unaudited provisional net sales in 2021. We expect gross profit to be 58% to 60% of net sales. We expect to achieve a positive adjusted EBITDA in 2022.
We also announced that we have signed an advisory agreement.agreement“) Opensky Opportunities Fund Ltd. (“AdvisorA long-armed company managed by Adrian Towning, dated February 26, 2022, payment of business development services, branding, business development analysis, and data consulting services is a cash or SBBC and subject option. It shall be done in. Approval of the TSX Venture Exchange on common stock of our capital (“Common stock“). The agreement envisages payments to advisors totaling US $ 600,000 in four installments, which will be paid quarterly from May 26, 2022. The number of common shares shall be determined on the basis of a 15-day volume-weighted average price. It is common stock on the payment date and must not be below the discounted market price (as defined on the TSX Venture Exchange). The term of the contract is one year and may then be renewed and / or extended by mutual agreement, subject to the terms and conditions mutually agreed between us and us. Advisor.
About Simply Better Brands Corp
Simply Better Brands Corp. is a leader in international omni-channel platforms with diverse assets in the emerging plant-based and holistic wellness consumer product category. The company’s mission is to lead informed millennial and Generation Z innovations in the area of fast-growing plant-based natural and clean ingredients. We continue to focus on expanding into the high-growth consumer product category, including CBD products, plant-based foods and beverages, and the global pet and skin care industries. SBBC’s major brands are PureKana (CBD Wellness), TRUBAR (Plant-based Nutrition) and No BS Skin Care (Clean Ingredient Skin Care). For more information on Simply Better Brands Corp., please visit https://www.simplybetterbrands.com/investor-relations.
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.
Simply Better Brand Co., Ltd.
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Information about the future outlook
The specific statements contained in this news release make up the “Forecast Information” and “Forecast Statements” used in applicable Canadian securities law. Forward-looking statements and information are based on management’s plans, expectations and estimates at the time the information was provided and are specific, including that our financial position and development plans will not change as follows: Subject to factors and assumptions. As a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory environment in which we operate, and our ability to execute our business plans. Specifically, this news release contains forward-looking statements related to, but not limited to, the following: The success of PureKana’s national omni-channel sales organization. Consumer interest and success in new products. Expectations for 2022 growth and year and quarter performance ending December 31, 2021. Future payments under contract in cash or common stock, as required, and approval of the TSX Venture Exchange for such payments.
Forward-looking statements and information may differ materially from those predicted in such forward-looking statements and information in plans, estimates, and actual results of various risks and uncertainties and others. Affected by the factors of. Factors that may change or inaccurate the forward-looking statements and information in this news release include the risk that any of the assumptions mentioned may prove valid or unreliable, such as: Includes, but is not limited to. What is mentioned above will be realized and will result in delays or outages of planned work, as well as our financial position and development plans, as well as the CBD or the broader wellness industry and other risks and uncertainties that apply to us. Brings. You can find it on the company’s annual information form available under the company profile at www.sedar.com.
The above assumptions and risk summaries related to the forward-looking statements in this news release are provided to provide shareholders and potential investors with a more complete view of our current and future business. And such information may not be suitable for other purposes. There is no representation of us that the actual results achieved are the same as those referred to in the forward-looking statements in whole or in part, and we publicly update or amend the forward-looking statements included. We shall not be obliged to do so. Statements, whether new information, future events, or other consequences, unless required by applicable securities law.
This press release contains forward-looking financial and financial outlook information (collectively).FOFIFor financial results for the year and quarter ended December 31, 2021, net sales, gross margin, and adjusted EBITDA are the same assumptions, risk factors, limits, as listed under the heading. And are eligible for qualification. “Information about the future outlook”. Our actual performance may differ from the amounts described in this document and such fluctuations may be significant. We and its management believe that the financial outlook has been reasonably prepared to reflect management’s best estimates and judgments, and the FOFI contained in this press release has been approved by management as of today. It has been. However, this information is subjective and is exposed to many risks and should not necessarily be relied upon as an indicator of future outcomes. We undertake no obligation to renew such FOFI unless required by applicable securities law. The FOFI contained in this press release was produced as of today and is provided annually with the purpose of providing detailed information about our expected future business operations. Readers should note that the FOFI contained in this press release may not be used for any purpose other than that disclosed in this document.
Non-IFRS financial indicators
This press release contains specific non-international financial reporting standards (““IFRS“)measures. Adjusted EBITDA refers to interest, taxes, depreciation and net income from continuing operations before amortization and the removal of certain non-recurring, temporary or irregular items. “Adjusted EBITDA is not a revenue indicator recognized by IFRS and has no standardized meaning as defined by IFRS. Management says that adjusted EBITDA is an alternative way to assess a company’s performance. The most direct comparable indicator to adjusted EBITDA calculated according to IFRS is net income (loss). Readers interpret Adjusted EBITDA as an alternative to net income determined under IFRS. Please note that it should not be done. It is also an indicator of financial performance determined by IFRS. There is also no calculation of cash flow from operating activities determined under IFRS and IFRS. Also as an indicator of liquidity and cash flow based on. Our adjusted EBITDA calculation method may differ from the method used by other companies, so our adjusted EBITDA is used by other companies. It may not be possible to compare with similar measurements.
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The pure Kana brand, which is simply a great brand, announces the expansion of omni-channel and the footprint of broader innovation, Canadian Business Journal
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