VANCOUVER, British Columbia, Nov. 18, 2021 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (“SBBC” or the “Company“) (TSX Venture: SBBC) (OTCQB: PKANF) is pleased to announce that it achieved USD$2.6 Million in revenue for the month of October 2021 based on management-prepared financial statements. This represents 220% growth over the average month’s revenue for the third quarter. This significant growth was fueled by accelerated customer acquisition by the Company’s PureKana wellness brand.
SBBC includes a portfolio of emerging brands focusing on health and wellness for Millennials and Generation Z in the rapidly growing plant-based, natural, and clean ingredient space. The Company’s brands are distributed through both its e-commerce platforms as well as brick and mortar retail channels. SBBC’s key brands are PureKana (CBD Wellness), TRUBAR (plant-based nutrition) and No B.S. Skincare (clean ingredient skin care).
SBBC is pleased to provide the following commercial highlights driving the growth:
- PureKana CBD launched a new customer acquisition strategy based on data-science. The demonstrative acceleration of consumers engaging with the brand is driving over 300% increase in October 2021 vs. our last 90-day trend.
- Incremental investment in our sales capability to enable shopper-centric solutions by channel.
- Following the consumer, PureKana launched single-serve OTC gummies and a discreet, oral CBD strip, while continuing to expand its cannabinoid and active ingredient formulas.
- Our current pacing indicates the expected growth in the Company’s wellness sector (PureKana) from 18-20% growth in the second half of 2021 which we reported on August 30, 2021, to stronger guidance of 58% sales growth in the Company’s wellness sector over the first half of 2021.
- We are also pleased to announce expected sales growth for SBBC in the second half of 2021 compared to the first half of 2021 of 93%. This sales growth increase includes PureKana, No BS and TRUBAR.
“In the growing, but crowded, CBD wellness space, strong customer acquisition is a strong leading indicator to validate our differentiated consumer offering and ability to break through the noise. We remain committed to leverage data science and innovation to emotionally connect with informed consumers on their wellness journey,” says SBBC CEO, Kathy Casey. “With our recent commercial wins, we forecast our key brands of PureKana, TRUBAR (plant-based nutrition) and No B.S. Skincare (clean ingredient skin care) for accelerated growth in 2022.”
About Simply Better Brands Corp.
Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.
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 release.
Simply Better Brands Corp.
Chief Financial Officer
+1 (855) 553-7441
Certain statements contained in this news release constitute “forward-looking information” and “forward looking statements” as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company’s financial condition and development plans do not change as a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates, and the Company’s ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: continued revenue growth driven by the Company’s brands; ability to enable shopper-centric solutions; the Company’s ability to follow consumer trends; projected results of operations during 2021, including specific sales growth targets and industry growth targets; the Company’s ability to acquire customers; the Company’s ability to leverage data science and innovation to connect with consumers; expectations for growth in 2022.
Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, as well as the other risks and uncertainties applicable to the CBD or broader wellness industries and to the Company, and as set forth in the Company’s annual information form available under the Company’s profile at www.sedar.com.
The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company 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 may be required by applicable securities law.
This news release contains financial outlook information about prospective results of operations, which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. The financial outlook information was approved by management as of the date of this news release and was provided for the purpose of providing further information about the Company’s anticipated future business operations. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any financial outlook information contained in this news release, whether as a result of new information, future events or otherwise, unless required by applicable securities law.