1CM INC. PROVIDES CORPORATE UPDATE

TORONTO, Nov. 9, 2023 /CNW/ - 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) (FSE: IQ70) (the "Company" or "1CM") wishes to provide the following corporate update with respect to its development and operations. The information below contains forward-looking statements and other information. Please see the section titled "CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS" at the end of this Press Release.

1CM currently operates 29 cannabis stores, with an additional 4 cannabis stores in development. The company also operates 3 liquor stores with an additional 9 liquor stores in development. This brings 1CM's store count to 32 retail stores with an additional 13 stores under development, selling consumer staple vice products across 5 provinces.

CANNABIS RETAIL

The Company's Cannabis Retail Division operates the brands "T CANNABIS", and "COST CANNABIS" in the following locations.

LIQUOR RETAIL

The Company's Alcohol Retail Division operates the brand "COSTCAN LIQUOR" which offers a wide variety of products including cannabis, liquor, tobacco, nicotine, and other consumer packaged goods (CPGs). Staple products which 1CM retails beyond cannabis, include for example Parmalat Milk, Pepsi (NSDQ: PEP), Frito Lay, Imperial Tobacco (LON: IMB), Canada Bread, Corby Spirits and Wine, Molson Coors (NYSE: TAP) and others. 1CM currently operates 32 retail stores and plans to reach the milestone of 50 retail stores in the current financial year. 1CM has begun selling its "EPIC MILFF" (a tribute to its ticker symbols on the CSE and OTCQB) branded alcoholic beverages and will continue to expand its offerings under the "EPIC MILFF" brand.

The company has liquor stores and retail liquor permits in development for the following locations:

CANNABIS & LIQUOR WHOLESALE ("Wholesale" or "B2B")

1CM Inc has successfully opened 4 distribution centres that sell Cannabis, and/or Liquor products to other regulated licence holders. 1CM Inc is currently developing additional B2B distribution centres to achieve its market penetration goals.

Since opening in January 2023, the B2B Cannabis division has managed to achieve a wholesale penetration rate of 18.6%, as it supplies 33 of the 176 licenced cannabis retail stores in Saskatchewan.

B2B Alcohol wholesale sales to on-site permit holders including hotels, and restaurants has also been growing rapidly and should contribute to revenue growth in the future.

1CM Inc has been successfully able to grow its B2B revenue in cannabis, alongside alcohol revenues and is working to drive additional revenue growth by increasing its B2B market share.

TECHNOLOGY ("One Cannabis Market" or "OCM" or "Tech")

1CM Inc realizes the value of technology in improving the customer service experience and democratizing vice markets. With OCM our tech stack has always prioritized the customer experience. To that effect we have developed the 1CM Loyalty app, now live on the Apple App and Google Play Stores. This technology provides customers with decentralized loyalty tokens and utilizes NFT based coupons within our age-gated member community. Providing marketing channels to otherwise inaccessible or underserved consumers like tobacco/nicotine consumers. OCM has also developed a B2B e-commerce portal for its wholesale customers to browse, add to cart, manage their available credit, make payments, and check out. As soon as orders are placed, customers are sent an ASN (advanced shipping notice) which includes the descriptions and embedded images of the products purchased. The ASN can be automatically uploaded to their POS (point of sale) system, all of which significantly reduces the effort spent ordering and improves the service experience.

1CM Inc. is a retailer of vice consumer staples in Canada including Cannabis, Alcohol, Tobacco, Nicotine, and CPG (Consumer Packaged Goods). Our vision is to be Canada's leading vice consumer staples retailer and wholesaler. The Company is focused on expanding its current operations through organic growth and by way of merger and acquisition transactions.

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions.

Forward-looking statements are based on certain assumptions, including successful application to be a licensed cannabis producer and seller, expected growth, results from operations, performance, industry trends and growth opportunities. While 1CM Inc. considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favorable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of 1CM Inc. to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. Except as required by law, 1CM Inc. disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE 1CM Inc.

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