Launch Poised to secure state-wide revenue growth for GABY
SANTA ROSA, CA / ACCESSWIRE / June 17, 2021 / GABY Inc. ('GABY' or the 'Company') (CSE:GABY)(OTCQB:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary ('Mankind Dispensary'), is pleased to announce the statewide launch of Kind Republic™, a California based lifestyle cannabis brand. Formerly an exclusive brand to Mankind Dispensary, it is set to launch state-wide on June 28, 2021. Manufactured and distributed by GABY owned Sonoma Pacific Distribution Inc. ('Sonoma Pacific'), Kind Republic™ products will soon be available in dispensaries across the State of California.
'The state-wide launch of Kind Republic™ through the distribution and manufacturing infrastructure of Sonoma Pacific is an example of the synergies available to GABY following its merger with Mankind Dispensary and will contribute to the Company's stated objective of increasing overall brand longevity, increased revenue and margin growth', said Margot Micallef, Founder, and CEO of GABY Inc.
A successful six-month soft launch of Kind Republic™ at Mankind Dispensary generated over $1.0 million in revenue at a 71% gross margin. The benefits of GABY building its proprietary brands by placing them in its dispensaries substantially increase as GABY continues to execute on its dispensary consolidation strategy across California.
'A strong initial launch has given us confidence that Kind Republic™, which encapsulates the California lifestyle, will become a significant brand in the statewide flower market. It brings a fresh, exciting, and high-quality option to budget priced flower that so many people want and need.' said John Ziegler, VP of Sales for GABY.
'We have been delighted by the acceptance of Kind Republic™ by Mankind Dispensary customers and are excited to offer our new brand to cannabis consumers across California'. 'We look forward to continuing to create an exceptional experience for cannabis consumers who shop in our store, leading with high-quality cannabis products.' said Alana Heilman, VP of Supply Chain of Mankind Dispensary.
Kind Republic™ caters to Californian's outdoor lifestyle culture, launching with a selection of prerolls, concentrates, and flower, cultivated and crafted in California keeping with the dispensary's high-quality roster of cannabis products. The new offerings will be promoted across the state and will also remain available to purchase in-store and online, through Mankind Dispensary.
About GABY Inc.
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Kind Republic™, Sonoma Pacific™ and Lulu's™ through Mankind. Through its wholly owned subsidiary, Sonoma Pacific Distribution it manufactures and distributes its proprietary brands to third party dispensaries. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY's shares trade on the Canadian Securities Exchange ('CSE') under the symbol 'GABY' and on the OTC under the symbol 'GABLF'. For more information on GABY, visit www.GABYInc.com
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Disclaimer and Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'continue', 'estimate', 'objective', 'ongoing', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends' and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward looking statements relating to GABY's business, strategies, expectations and planned operations, including, the timing of the state wide launch of the Kind RepublicTM brand and anticipated potential revenue growth as a potential benefit of such launch.
The forward-looking statements and information are based on certain key expectations and assumptions made by GABY, including expectations and assumptions concerning: the future operations of GABY and its subsidiaries, Mankind Dispensary and Sonoma Pacific; the availability of sufficient capital; the availability of and access to qualified personnel; the expected growth in the cannabis market, the medical benefits, viability, safety, efficacy, dosing and social acceptance of cannabis; the securities markets and the general economy; and applicable laws not changing in a manner that is unfavorable to GABY.
Although GABY believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because GABY can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Without limitation, these risks and uncertainties include: GABY not realizing the anticipated benefit of the state wide launch of the Kind RepublicTM brand, risks associated with the cannabis industry in general, failure to benefit from partnerships or successfully integrate acquisitions, actions and initiatives of federal, state and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies, the size of the medical-use and adult-use cannabis market, competition from other industry participants, adverse U.S., Canadian and global economic conditions, failure to comply with certain regulations and departure of key management personnel or inability to attract and retain talent. GABY undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Each of Mankind Dispensary and Sonoma Pacific is a subsidiary of GABY and holds a cannabis license in the State of California. Unlike in Canada which has Federal 032320-F legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the United States ('U.S.'), cannabis is largely regulated at the State level. Cannabis is legal in the State of California; however, cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY's subsidiaries are conducted in a manner consistent with the State law of California, as applicable, and are in compliance with regulatory and licensing requirements applicable in the State of California, respectively. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiary of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiary. Any such proceedings brought against GABY, or its subsidiary may materially adversely affect the Company's operations and financial performance generally in the U.S. market specifically.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GABY Inc.
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