Ayurcann Holdings Corp. Reports Record 2021 Revenues and Profits

Revenues Enhance Greater than TEN-FOLD

TORONTO, Oct. 29, 2021 /CNW/ – Ayurcann Holdings Corp. (CSE: AYUR) (FSE: 3ZQ0) (the “Firm” or “Ayurcann“), a Canadian hashish extraction firm specializing within the processing of hashish and hemp to provide oils and varied by-product merchandise reported right now monetary and working outcomes for the yr ending June 30, 2021. All figures are reported in Canadian {dollars}.

Key Monetary Highlights for the Fiscal Yr Ending June 30, 2021

• Ayurcann reported document revenues of $7,633,656 for the fiscal yr ending June 30, 2021, a rise of 1,149% over fiscal yr 2020·

• Ayurcann reported substantial progress in Working Earnings of $2,159,309, a rise of 440% over fiscal yr 2020 and representing gross margins of roughly 60%.

• Ayurcann completed the constructed out of Part 2 enlargement within the Pickering facility, rising manufacturing capability as much as 300,000kg of processing and as much as 3 million fill product co-manufacturing for vapes, tinctures and topical per yr, additional cementing themselves as a one-stop store for Canadian LP’s searching for a branded product resolution.

Mr. Igal Sudman, CEO of Ayurcann, added: “We’re thrilled to see our revenues rising persistently. Our Margins are sturdy, and we’re more and more worthwhile. We’re proud to be one of many only a few in our peer group displaying rising revenues and a constructive working earnings with a constant path of profitability. We the one time share solely price behind us related to our going public itemizing, we will confidently say that we totally anticipate to point out continued earnings going ahead whereas constructing on our momentum.”

Operational Highlights

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• Signed a number of worldwide manufacturers to fabricate and distribution agreements together with Innocan Pharma from Israel, Inexperienced Bee Botanicals from California, and Her Highness from New York.

Mr. Sudman additional commented on operational progress and entry into 5 new markets; “With the part 2 construct out accomplished, we now have elevated bulk manufacturing capability as much as 300,000 kilograms per yr and have the flexibility to co-pack as much as 3 million manufacturing merchandise for the medicinal and leisure markets. We’re assured that we are going to proceed securing further, provide and manufacturing agreements with top-tier prospects throughout the nation, thereby serving to develop our prime line revenues whereas preserve wholesome margins.”

About Ayurcann Holdings Corp.:

Ayurcann is a number one post-harvest resolution supplier with a deal with offering and creating customized processes and pharma grade merchandise for the grownup use and medical hashish business in Canada. Ayurcann is striving to grow to be a associate of alternative for main Canadian hashish manufacturers by offering best-in-class, proprietary companies together with ethanol extraction, formulation, product improvement and customized manufacturing.

Please see the Monetary Assertion part beneath, and the Firm’s Fiscal yr 2021 audited Monetary Statements and Administration Dialogue and Evaluation (“MD&A”), out there underneath the Firm’s SEDAR profile, for extra data.

Chosen Monetary Data for Fiscal 2021

Non IFRS Measures Adjusted EBITDA Adjusted EBITDA is a non-IFRS measure, and the Firm calculates Adjusted EBITDA as a sum of web income, different earnings, price of products bought, bills, much less recapitalization prices, depreciation and share based mostly funds, as decided by administration. Adjusted EBITDA isn’t meant to be thought of as an alternative choice to web earnings, money move from operations, or every other measure of efficiency prescribed by IFRS. The Firm’s Adjusted EBITDA can also not be corresponding to Adjusted EBITDA utilized by different firms, which can be calculated otherwise. The Firm considers Adjusted EBITDA to a significant measure and is offered to help readers to evaluate its working efficiency along with IFRS measures. It’s included as a result of the Firm believes it may be helpful in measuring its means to develop its enterprise. Fiscal yr to June 30, 2021, revenues $ 7,633,656 2020 $611,829 Price of products bought $ 3,006,939 2020 $240,429 Gross margin $4,626,717 2020 at $371,400 Ayurcann Holdings Corp. Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations Working bills 2,346,466 in comparison with 2020 at 429,621 Working earnings $2,280,251 in comparison with 2020 at (58,221).

Neither the Canadian Securities Change nor its Regulation Providers Supplier have reviewed or settle for duty for the adequacy or accuracy of this launch.

Sure statements included on this press launch represent forward-looking data or statements (collectively, “forward-looking statements”), together with these recognized by the expressions “anticipate”, “consider”, “plan”, “estimate”, “anticipate”, “intend”, “could”, “ought to” and comparable expressions to the extent they relate to the Firm or its administration. The forward- trying statements should not historic info however replicate present expectations concerning future outcomes or occasions. This press launch accommodates ahead trying statements, together with however not restricted to statements referring to the Firm’s enlargement plans and future manufacturing capability. These forward-looking statements are based mostly on present expectations and varied estimates, components and assumptions and contain recognized and unknown dangers, uncertainties and different components.

Ahead-looking statements should not ensures of future efficiency and contain dangers, uncertainties and assumptions that are tough to foretell. Components that might trigger the precise outcomes to vary materially from these in forward-looking statements embody, however should not restricted to, failure to acquire regulatory approval, means to extend manufacturing on the Firm’s amenities, the continued availability of capital and financing, and normal financial, market or enterprise situations. Ahead-looking statements contained on this press launch are expressly certified by this cautionary assertion. These statements shouldn’t be learn as ensures of future efficiency or outcomes. Such statements contain recognized and unknown dangers, uncertainties and different components that will trigger precise outcomes, efficiency or achievements to be materially totally different from these implied by such statements. Though such statements are based mostly on administration’s affordable assumptions, there may be no assurance that the statements will show to be correct or that administration’s expectations or estimates of future developments, circumstances or outcomes will materialize. Though the Firm has tried to determine vital dangers, uncertainties and components which might trigger precise outcomes to vary materially, Additional, there could also be others that trigger outcomes to not be as anticipated, estimated or meant and such modifications could possibly be materials. Public well being crises, together with the continued novel coronavirus (COVID-19) pandemic, might have vital financial and geopolitical impacts that will adversely have an effect on the Firm’s enterprise, monetary situation and/or outcomes of operations. The Firm assumes no duty to replace or revise forward-looking data to replicate new occasions or circumstances except required by regulation. Readers mustn’t place undue reliance on the Firm’s forward-looking statements.

This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase nor shall there be any sale of the securities in any state wherein such provide, solicitation or sale could be illegal. The securities being supplied haven’t been, nor will they be, registered underneath the US Securities Act of 1933, as amended, and might not be supplied or bought in the US absent registration or an relevant exemption from the registration necessities of the US Securities Act of 1933, as amended, and relevant state securities legal guidelines.

SOURCE Ayurcann Holdings Corp.

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