HASH Simply Solventless Concentrates Ltd

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CALGARY, AB, Feb. 20, 2024 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") is pleased to provide an update regarding the Lamplighter acquisition integration and initial Lamplighter purchase orders. SSC also advises that it has posted an updated investor presentation to its website and conducted a Proactive Investors video interview on February 9^th, 2024.

SSC acquired Lamplighter on a 100% vendor financed basis on January 17, 2024, for consideration of up to $570,000. Lamplighter is being integrated into SSC's operations ahead of schedule, with twelve of twenty-one pre-acquisition listings transferred to SSC in the first month. SSC is working to transfer the remaining nine listings as soon as possible.

First month purchase orders on seven of the twelve transferred listings totalled $511,000. Lamplighter's Tiger Berry 3x0.5g Infused Prerolls were the #13 3x0.5g infused preroll in Ontario during January 2024 on a sales basis, with 645 cases sold to retail stores.  The 3x0.5g format is the largest format in the infused preroll category. 

Jeff Swainson, President and CEO of SSC stated: "Lamplighter purchase orders received to date indicate revenue run rates analogous to Lamplighter's 2023 projected gross revenue of $6.8 million. We are encouraged by the value that this acquisition is already providing to our shareholders, and by what our team will accomplish with the Lamplighter brand through 2024. SSC will provide Q1 2024 revenue guidance, which will include consolidated Astrolab, Frootyhooty, Lamplighter, and B2B revenue, on or around April 1, 2024". 

Please see the links below for SSC's updated investor presentation and an interview that was conducted with Proactive Investors on February 9^th, 2024:

Investor Presentation

Proactive Investors Interview 

SSC is a public company incorporated under the Business Corporations Act  (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see www.simplysolventless.ca.

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press 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", "will", "estimates", "believes", "intends", "expects", "projected" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning future growth, the opinions or beliefs of management, expected product launches and timing thereof. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control and SSC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither 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 release.

SOURCE Simply Solventless Concentrates Ltd.