Simply Better Brands Corp. Positioning for Significant Growth Fueled by Customer Acquisition, New Distribution and Geographic Expansion

VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Simply Better Brands Corp. ("SBBC" or the "Company") (TSX Venture: SBBC) (OTCQB: PKANF) announces business updates that SBBC feels position the Company for significant growth fueled by accelerated customer acquisition, new distribution and geographic expansion.

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 protein bars) and No B.S. Skincare (clean ingredient skin care).

SBBC is pleased to provide the following commercial highlights driving growth and expansion:

• SBBC’s largest market is in the United States. However, SBBC has secured in-country strategic partners to expand into Latin America, Mexico, and Western Europe in Q4 2021.

• After its initial entry in Costco Canada earlier this year, TRUBAR has now entered the U.S. Market with Costco. Early TRUBAR sales significantly exceeded the bar category benchmark driving re-orders and additional regional expansion yet this year. To drive continued trial and awareness, TRUBAR also enters 7-11 in the Canadian market.

• PureKana CBD launched a new customer acquisition strategy based on data-science. The demonstrative acceleration of consumers engaging with the brand is driving a 300% increase in early Q4 sales vs. trend. Following the consumer, PureKana also launched single-serve OTC gummies and a discreet oral CBD strip.

• Leveraging its recent acquisition of Crisp Management Group, PureKana executed its inaugural event as the exclusive CBD brand at Breakaway Music Festivals.

• No B.S. Skincare entered the Indian market via Nykaa, a premium omni-channel beauty and wellness retailer, sometimes referenced as the Sephora of India.¹

• No B.S. Skincare launches innovation with a Rejuvenating Niacinamide Elixer with Hyaluronic Acid and Chamomile Extract formulated to soften fine lines and wrinkles, minimize the look of pores and reduce hyperpigmentation.

• We are pleased to announce an increase in the expected growth in SBBC's wellness sector (PureKana) from 18-20% growth in the second half of 2021 which we reported on August 30, 2021 to new guidance of 58% sales growth in the 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 Tru Brands.

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¹Source: Business of Fashion, February 2021

“After going public in December 2020, we are so proud of the team and capability we are building,” says SBBC CEO, Kathy Casey. “Having our newly-acquired brands expand into retailers like Costco, Target, Amazon and Whole Foods is a proof point of our model to leverage data and innovation to emotionally connect with informed consumers in the wellness space. The expansion is material to our ability to fuel our growth.”

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.

Contact Information

Simply Better Brands Corp.
Brian Meadows
Chief Financial Officer
+1 (855) 553-7441
ir@simplybetterbrands.com

Forward-Looking Information

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, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval.

Specifically, this news release contains forward-looking statements relating to, but not limited to: expansion capabilities of PureKana, No BS skincare and TRU Brands; expansion and marketing plans for the Company and its subsidiaries; the Company's plans for continued M&A activity in specific industry sectors to drive top line growth and profitability; projected results of operations during 2021, including specific sales growth targets and industry growth targets; planned international sales growth in key markets; sales growth in the beauty industry; the Company's plan to build a direct to-consumer platform catering to Millennial and Gen-Z consumers; operating synergies; the Company's acquisition activities; growth of opportunities in the Company's business segments, including wellness, beauty, plant based foods, and others.

The material factors and assumptions used to develop the forward-looking statements herein include, but are not limited to, the following: (i) the impact of the COVID-19 pandemic; (ii) the regulatory climate in which the Company operates; (iii) the sales success of the Company’s products; (iv) the success of sales and marketing activities; (v) the Company’s ability to complete acquisitions; (vi) there will be no significant reduction in the availability of qualified and cost effective human resources; (vii) new products will continue to be added to the Company’s portfolio; (viii) consumer demand for the Company products will continue to grow in the foreseeable future; (ix) there will be no significant barriers to the acceptance of the Company’s products in the market; (x) the Company will be able to maintain compliance with applicable contractual and regulatory obligations and requirements; (xi) there will be adequate liquidity available to the Company to carry out its operations; (xii) products do not develop that would render the Company’s current and future product offerings undesirable and the Company is otherwise able to minimize the impact of competition and keep pace with changing consumer preferences; and (xiii) the Company will be able to successfully manage and integrate acquisitions and take advantage of synergies from acquisitions.

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, and delays in regulatory approval, 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.