YSS Corp. Announces Receipt of Five Additional Cannabis Retail Licenses in Alberta, Doubling Currently Licensed Stores to Ten

CALGARY, Alberta, July 09, 2019 (GLOBE NEWSWIRE) -- YSS Corp.™ (the “Company” or “YSS”) (TSXV: YSS) (WKN: A2PMAX) is pleased to announce the receipt of five additional cannabis retail licenses from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) under the YSS^TM operating brand, bringing the Company’s licensed store count to ten in Alberta.  YSS expects all ten stores to be open by the end of August 2019 and to materially contribute to the Company’s financial and operating results for the second half of 2019.

The five retail cannabis licenses received are for the following stores (collectively, the “Additional Five Retail Stores”):

• YSS Calgary (Woodbine) in the Woodbine Square shopping centre featuring 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 of 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; and
• YSS Vegreville is located across the street from the principal grocery store in Vegreville and proximate to restaurants and a gas station.

YSS currently has three operating retail stores in Calgary and Red Deer. The Company’s fourth store, located in Calgary’s Sunridge Mall area, opens tomorrow, July 10^th, under the Sweet Tree^TM brand name (“Sweet Tree Sunridge”).  The Company expects its fifth store to open later in July in High River, also under the Sweet Tree^TM brand name (“Sweet Tree High River”).  YSS expects to open the Additional Five Retail Stores under the YSS^TM  brand name throughout August 2019.  Two additional YSS retail locations in Spruce Grove and Edmonton have competed inspections by the AGLC.

“Today’s announcement is a huge step forward for the company, our customers and our shareholders and reflects the continued commitment of the team to the execution of our business strategy, despite facing industry headwinds since cannabis legalization” said Theo Zunich, President and CEO of YSS. “We are excited to welcome over 60 new staff to the team in the coming weeks and to bring our commitment to customer service to now seven communities across Alberta.”

Pursuant to the terms of the definitive agreement between YSS and Sweet Tree Modern Apothecary Ltd. announced on June 13, 2019, YSS has issued an aggregate of 9,500,000 common shares in connection with the issuance of AGLC licenses for Sweet Tree Sunridge and Sweet Tree High River.

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 five Alberta stores, has two built and inspected stores awaiting licenses 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 Sunridge, Sweet Tree High River and the Additional Five 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 and MD&A 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.