Solo Growth Corp™ Addresses Possible Market Confusion

CALGARY, Alberta, May 02, 2019 (GLOBE NEWSWIRE) -- Solo Growth Corp.™ (the “Company” or “Solo Growth”) (TSXV: SOLO) (WKN:A2PBMC), acknowledges that it has come to the attention of the Company that Solo Liquor Holdings Limited has recently been petitioned into bankruptcy by its creditors.  In response to inquiries from investors, the Company wishes to address any market confusion by confirming that there is no corporate, financial or operational relationship or affiliation between Solo Growth™ and Solo Liquor Holdings Limited or any of its principals.  Solo Growth, a cannabis retailer operating as YSS^TM, is fully independent with the vision to become a premier retailer and the trusted destination for cannabis in Canada.

To better align with the Company’s YSS^TM retail brand and mitigate potential future confusion, the Company will ask its shareholders to approve a special resolution to change the Company’s name to YSS Corp. (the “Name Change”) at the Company’s upcoming Annual and Special Meeting of Shareholders (the “Meeting”), to be held on May 29, 2019 at 2:00pm MT.  Assuming approval, the Company expects to also change its trading symbol on the TSX Venture Exchange to “YSS”.  The Name Change and new trading symbol are subject to approval of the TSX Venture Exchange.

Additional Information

For additional information regarding Solo Growth please see the corporate website at www.sologrowth.ca and filings available under the Company’s profile on SEDAR at www.sedar.com.

About Solo Growth Corp.^TM

Operating as YSS^TM, the Company is a cannabis retailer with the vision to become a premier retailer and the trusted destination for cannabis in Canada.  Since its launch in June of 2018, the Company has built a strategic portfolio of locations while managing financial commitments.  The Company has a licensing agreement on one operating store in Red Deer, Alberta; has built and received AGLC inspections on six additional Alberta stores, and has another Alberta location nearing completion of construction.  An additional 15 AGLC applications are being reviewed for construction priority within the current regulatory environment.  YSS^TM management brings excellence across capital markets, financial management and a strong commitment to deliver shareholder value by leveraging high-quality opportunities within this exciting new industry.  The YSS^TM 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 : Solo Growth’s retail cannabis business strategy, including organic growth and strategic activities; the operating location in Red Deer, Alberta, including the licensing agreement, market presence and customer base in respect of the location; the ability to build, own and operate retail cannabis stores; the receipt of necessary permits and licenses to open stores; the ability to capitalize on potential opportunities that may arise and the ability to exercise thereon; the annual meeting of shareholders and the mailing date of meeting materials; and enhancing value for shareholders. 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 AIF and MD&A for additional risk factors relating to the Company. The AIF and MD&A 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, balance sheet, expenses and profit and revenue and cash flow in respect of the Red Deer location, 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 made as of the date of this document and was provided for the purpose of providing further information about Solo Growth’s future business operations. Solo Growth 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.