YSS Corp. Announces Receipt of Eleventh Retail Cannabis Store License

CALGARY, Alberta, July 16, 2019 (GLOBE NEWSWIRE) -- YSS Corp.™ (the “Company” or “YSS”) (TSXV: YSS) (WKN: A2PMAX) is pleased to announce the receipt of an additional cannabis retail license from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) under the YSS^TM operating brand, bringing the Company’s licensed store count to eleven in Alberta.  YSS expects all eleven stores to be opened in Q3 2019 and to materially contribute to the Company’s financial and operating results for the second half of 2019.

The retail cannabis license received is for the YSS Spruce Grove store, conveniently located on the corner of two busy regional highways, Jennifer Heil Way and Parkland Highway.

YSS currently has four operating retail stores in Calgary and Red Deer.  YSS expects to open seven additional retail cannabis stores during Q3 2019.  One further YSS retail location in Edmonton has completed inspections by the AGLC and is pending license.  Below is an outline of the seven stores expected to be opened in the coming weeks:

• Sweet Tree High River is conveniently located near shopping, restaurants, hotels and Alberta’s busy Highway 2 and is anticipated to open next week;
   
• YSS Calgary (Woodbine) in the Woodbine Square shopping centre, which features a grocery store, a liquor store, a pharmacy and restaurants;
   
• YSS Vermilion is the first AGLC-licensed cannabis retailer in Vermilion and is conveniently located off Buffalo Trail in a shopping centre that includes a gas station, fast-food restaurants and convenience and liquor stores;
   
• YSS Lloydminster is located off Highway 16 between the principal shopping area of Lloydminster and residential neighborhoods;
   
• YSS Stony Plain (Atim Creek) is located along the Parkland Highway on the way into Stony Plain in an area featuring restaurants, a gas station, liquor stores and hotels;
   
• YSS Vegreville is located across the street from the primary grocery store in Vegreville and proximate to restaurants and a gas station; and
   
• YSS Spruce Grove is conveniently located on the corner of two busy regional highways, Jennifer Heil Way and Parkland Highway.

“We continue to be pleased with AGLC’s progressive approach to issuing cannabis retail licenses, the growth in cannabis supply and the results from our operating stores,” said Theo Zunich, President and CEO of YSS.  “We are excited at the growth profile ahead for YSS as we continue to build out our strategic portfolio of Alberta locations.”

Additional Information

For information on store locations and opening dates please visit www.ysscorp.ca, www.sweettreecannabis.com and follow us on social media. 

For additional information regarding YSS Corp. please see the Company’s website at www.ysscorp.ca/investors and filings available under the Company’s profile on SEDAR at www.sedar.com.

About YSS Corp.

With retail operations under the YSS^TM and Sweet Tree^TM 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 AGLC licensed-unopened store in High River and three locations for future construction.  Organically, YSS has built and received AGLC licenses on six Alberta stores, has one additional built and inspected store awaiting a license and maintains a strategic portfolio of leased and prospective locations that represent future organic growth potential.  YSS management brings excellence across capital markets, retail operations, 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.

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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; the opening of Sweet Tree High River and an additional six retail stores and the timings thereof; the expected material contribution of the opened stores to the Company’s financial and operating results for the second half of 2019; 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 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.