YSS Corp. Announces Receipt of Retail Cannabis Store License in Edmonton

CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- YSS Corp.™ (the “Company” or “YSS”) (TSXV: YSS) (WKN: A2PMAX) is pleased to announce receipt of an additional cannabis retail license from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) under the YSS^TM operating brand, which brings the Company’s licensed store count to 12 in Alberta.  

The new cannabis retail license relates to the YSS NW Landing store, situated on St. Albert Trail / Mark Messier Trail just North of 137 Avenue in Edmonton, a location offering exposure to over 35,000 vehicles per day. 

The Company currently has six open stores across its YSS and Sweet Tree operating brands, including YSS Red Deer, Sweet Tree High River and four Calgary locations (YSS Woodbine, Sweet Tree Riverbend, Sweet Tree Forest Lawn and Sweet Tree Sunridge).  An additional two locations, YSS Vermilion and YSS Vegreville, are expected to open within the next week.  By the end of Q3 2019, YSS anticipates having all 12 currently licensed stores opened and materially contributing to the Company’s financial and operating results for the second half of 2019.

“YSS is building considerable momentum in terms of open stores, revenue and brand awareness,” said Theo Zunich, President and CEO of YSS. “Since AGLC lifted the licensing moratorium, we have re-engaged in growth initiatives and will continue to add strategic locations and construct new stores through year-end and into 2020.”

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 to explore and discover cannabis in Canada.  YSS currently operates six locations in Calgary, Red Deer and High River under the YSS and Sweet Tree licensed operating brands and has received AGLC licenses on an additional six fully-constructed Alberta stores, all expected to open by the end of Q3 2019.  In addition, YSS maintains a strategic portfolio of constructed, secured and prospective locations that represent future organic growth potential for the Company.  YSS management brings excellence 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.

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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 currently AGLC licensed but unopened retail stores and the timings thereof; future revenue and 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.