CALGARY, Nov. 7, 2019 /CNW/ - YSS Corp.™ ("YSS" or the "Company") (TSXV: YSS) (WKN: A2PMAX), a premier Canadian cannabis retailer operating under the YSS and Sweet Tree brands, is excited to open trading on TMX Group's markets from the YSS Woodbine store in Calgary on Tuesday, November 12, 2019. The event will mark the first time TMX has opened from a retail location of any kind in western Canada.
"Western provinces have provided robust frameworks within cannabis legalization that support business growth, job creation and tax income, while ensuring safe access to legal cannabis," said Theo Zunich, President and CEO of YSS Corp. "As a Calgary-based cannabis retailer, we are very proud to be the first company in western Canada to open TMX's markets from a retail store."
YSS currently has 13 operating stores, eight of which operate under the YSS brand (Calgary - Woodbine, Edmonton - NW Landing, Red Deer, Vermilion, Stony Plain, Vegreville, Spruce Grove and Lloydminster) and five of which operate under the Sweet Tree brand (Calgary - Riverbend, Calgary - Forest Lawn, Calgary - Sunridge, High River and Swift Current, Saskatchewan).
The Company is pleased to announce that its 14th store, Sweet Tree Okotoks, has passed the final Alberta Gaming, Liquor and Cannabis Commission ("AGLC") inspection and will open immediately upon receiving its first cannabis delivery, which is anticipated in the next three weeks.
The Company's two Calgary flagship stores, YSS 4th Avenue and Sweet Tree 17th Avenue, are nearing completion and are targeted for AGLC final inspection by the end of the month, with the objective to open before Christmas.
Construction is underway on a further two YSS locations in Grand Prairie.
In addition, the Company is in late-stage planning on three locations, one in each of Calgary, Edmonton and Drumheller.
YSS plans to issue Q3 2019 financial and operating results after market on November 26, 2019.
"With our first full year of legalization behind us, it is an exciting time for YSS. We have new store openings on the horizon, continually improving cannabis product quality coupled with decreasing wholesale prices, and new cannabis formats hitting the market in early 2020, including oil vaporizers, beverages, edibles, concentrates and topicals," said Zunich. "We offer our customers a curated menu of cannabis products in a welcoming retail experience and our investors a unique investment opportunity. We have built a robust business model and are poised to continue expanding at a measured pace, while striving to increase revenues and expand profit margins."
The Company is committed to becoming the trusted destination for cannabis in Canada by creating and delivering a premier in-store retail experience through understanding customer demands and data, implementing standardized procedures, investing in brand and retail design, offering interactive in-store technology, and developing an experienced and welcoming team. YSS views the continued investment in customer experience as instrumental to establishing customer loyalty, brand recognition and ultimately, future business.
For additional information regarding YSS and to access an updated corporate presentation, please see the Company's website at www.ysscorp.ca/investors. Corporate and financial filings are 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 premium cannabis retailer and the trusted destination to explore and discover cannabis in Canada. YSS operates 13 locations in Calgary, Edmonton, Red Deer, High River, Spruce Grove, Stony Plain, Vermilion, Lloydminster, Vegreville and Swift Current under the YSS and Sweet Tree brands. In addition, YSS maintains a strategic portfolio of under construction, secured and prospective locations that represent future organic growth potential for the Company. YSS management brings proven expertise across capital markets, retail operations, hospitality, cannabis, 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.
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' retail cannabis business strategy, including organic growth and strategic activities; opening trading on TMX Group's markets from the YSS Woodbine store in Calgary on Tuesday, November 12, 2019; the opening, licensing, inspection, construction and planning of YSS retail stores and the timings thereof; issuing YSS' Q3 2019 financial and operating results and timing thereof; improving cannabis quality and decreasing wholesale prices; availability of new cannabis formats, including oil vaporizers, beverages, edibles, concentrates and topicals and timing thereof; increase in revenue and expanding profit margins; 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 and those relating to new cannabis formats; 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, including new cannabis formats; 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 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.
This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the Company's investments, revenue, gross margin and cash flow, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about YSS' future business operations. YSS disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein.
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.
SOURCE YSS Corp.
For further information: 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, [email protected]; OR Cindy Gray, 5 Quarters Investor Relations, Inc., (403) 231-4372 or [email protected]; Stephanie Bunch, CA, Vice President, Finance and Chief Financial Officer, Phone: (403) 455-7656