DATE:
TIME:
LINK: https://bit.ly/3Nmqms4
Following the live presentation,
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
Recent Company Highlights
Following its acquisition of the Mankind dispensary in April of 2021, the Company recently confirmed its exclusive focus on its higher margin retail operations, terminating all of its lower margin wholesale distribution and manufacturing businesses. In the 12 months since acquisition of the Mankind dispensary, Management identified synergies and operational efficiencies and cut
On
A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5bff0373-735e-4f2c-91ed-931075eaaba8
Given Management’s relentless focus on operating efficiencies, the Company expects continued improvement in income from operations in 2022.
ABOUT GABY
GABY's common shares trade on the Canadian Securities Exchange ("CSE") under the symbol "GABY" and on the OTCQB under the symbol "GABLF". For more information on GABY, visit www.GABYInc.com or the Company's SEDAR profile at www.sedar.com
For further inquiries, please contact:
General
Media
Senior Communications Manager
(631)579-0858
charlie@gabyinc.com
ABOUT VIRTUAL INVESTOR CONFERENCES®
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For Further inquiries please contact:
Virtual Investor Conferences
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Currency Presentation
Unless otherwise indicated, all references to "$" or "C$" in this press release refer to Canadian dollars and all references to "US$" in this Press Release refer to
Disclaimer and Forward-Looking Information
The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, management's expected continued improvement to GABY's profitability in 2022, the estimated current and future cost savings of the Company, the Company's future business strategy, including its plans to expand organically and through future acquisitions or greenfield expansions, and the anticipated benefits to be derived from GABY's rationalization and cost cutting program. 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: the severity of the COVID-19 pandemic; 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
To the extent any information contained in forward-looking statements in this press release constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated financial performance of the Company and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information or financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above for forward-looking statements. The Company's actual financial position and results of operations may differ materially from its management’s current expectations and, as a result, the Company's actual revenue may differ materially from the prospective revenue estimates or projections provided in this press release. Such information is presented for illustrative purposes only and may not be an indication of the Company’s actual financial position or results of operations for the applicable financial periods.
Selected financial information outlined above for the Company's Q1 2022 should be read in conjunction with, GABY's interim annual financial statements and management’s discussion and analysis (“MD&A”) for the three months ended
Mankind operated through
Non-GAAP Measures
(1) Adjusted EBITDA does not have any standardized meaning as prescribed by IFRS , and, therefore, is considered a non-GAAP measure and may not be comparable to similar measures presented by other issuers and should not be viewed as a substitute for measures reported under IFRS.. Adjusted EBITDA from continuing operations is used by management and investors to analyze the Corporation's profitability based on the Corporation's principal business activities regardless of how: these activities are financed; assets are depreciated and amortized, and results are taxed in various jurisdictions or subject to entity specific tax planning. It therefore excludes interest expense, taxes, depreciation, and items which management considers are not related to operational performance of its core businesses. In addition, Adjusted EBITDA provides an indication of the Corporation's ongoing ability to service its debt, income taxes and capital expenditures and therefore excludes non-cash expenses. Readers should refer to GABY’s MD&A under section entitled “NON-GAAP DISCLOSURE” for a full description of why certain items are excluded from net loss in arriving at the non-GAAP measure Adjusted EBITDA.
Below is a reconciliation of the non-GAAP measure Adjusted EBITDA from continuing operations for the quarters ended
A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/57257a03-5d3d-4b96-a2fa-c2590bf331bb
First Quarter Financial Highlights
First Quarter (Q1) Financial Highlights
Non-GAAP measure Adjusted EBITDA for the quarters ended March 31, 2022 and 2021:
Reconciliation of the non-GAAP measure Adjusted EBITDA
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