AYURCANN REPORTS RECORD SALES IN Q3 2024 OF $11,655,360 FEATURING A 97% INCREASE IN GROSS REVENUE

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Toronto, Ontario, Might 27, 2024 (GLOBE NEWSWIRE) — Ayurcann Holdings Corp. (CSE: AYUR, OTCQB: AYURF, FSE: 3ZQ0) (“Ayurcann” or the “Firm”), a number one Canadian hashish extraction firm specializing within the processing and manufacturing of varied hashish 2.0 and three.0 merchandise within the leisure market, is happy to announce its monetary and operational outcomes for the three and 9 months ended March 31, 2024, the highlights of that are included on this information launch. All figures are reported in Canadian {dollars}. The Firm’s full set of consolidated monetary statements for the three and 9 months ended March 31, 2024 and accompanying administration’s dialogue and evaluation could be accessed by visiting the Firm’s web site at www.ayurcann.com and its profile web page on SEDAR+ at www.sedarplus.ca.

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FINANCIAL HIGHTLIGHTS FOR THE THREE- AND NINE-MONTHS ENDING MARCH 31, 2024

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• Gross income elevated to $11,655,360 for the three-month interval (in comparison with $5,893,351 for a similar interval final yr), representing a rise of 97%.
• Gross income elevated to $34,186,524 for the nine-month interval (in comparison with $13,660,561 for a similar interval final yr), representing a rise of 150%.
• Gross margin, calculated based mostly on web income, was 37%.
• Adjusted EBITDA¹ was $271,813 for the three-month interval (in comparison with -$744,328 a rise of $1,016,141) and $763,628 for the nine-month interval (in comparison with -$1,158,377 a rise of $1,922,005) respectively, for a similar durations final yr.
• The #1 producer of Vapes in Ontario², and High 5 pre-roll producer by quantity in Ontario³ in the course of the interval.

Company Replace

Focus.

Ayurcann is targeted on its operational experience and gaining market share in each product class, and we imagine that our robust market share seize is pushed by the standard and popularity of our manufacturers. By repeatedly offering high-quality merchandise, improvements and worth that complement our present market choices, we proceed to search for alternatives to extend income.

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Ayurcann is happy to announce that over the last 6 months it has secured 24 new inventory preserving items (“SKUs”) within the vape, pre-roll and focus classes in Ontario, Alberta, Manitoba, Saskatchewan and British Columbia, and has begun promoting in Newfoundland and Yukon. The Firm’s skill to constantly produce modern, worth pushed, and high-quality merchandise has been a profitable pathway to its progress.

Effectivity.

Ayurcann repeatedly appears to be like at its operation, creating higher partnerships and efficiencies in our techniques, together with higher manufacturing capacities and provide chain administration. Ayurcann has carried out new techniques to enhance the effectivity of the prevailing enterprise to place Ayurcann for additional progress.

Crew.

Ayurcann’s unbelievable group, each inner and exterior, make the corporate. We set short- and long-term objectives and goals which can be immediately linked to the success of the Firm and perceive that reward and recognition is what makes the group meet and exceed these goals.

Ayurcann drives progress by way of our high quality, manufacturers, and product choices. The on-going instability within the market and worth compression has affected all classes within the trade, nevertheless, demand for our merchandise has remained constant and the hashish trade stays robust and rising. As a enterprise centered on high quality and worth, we’ve got seen market progress and demand for our merchandise translate into a robust aggressive place.

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For additional data, please contact:

Igal Sudman, Chief Govt Officer
Ayurcann Holdings Corp.
Tel: 905-492-3322
E mail: data@ayurcann.com

Investor Relations:

E mail: ir@ayurcann.com

About Ayurcann:

Ayurcann is a number one post-harvest answer supplier with a concentrate on offering and creating customized processes and pharma grade merchandise for the grownup use and medical hashish trade in Canada.

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For extra details about Ayurcann, please go to www.ayurcann.com and its profile web page on SEDAR+ at www.sedarplus.ca.

Neither the Canadian Securities Change nor its Regulation Providers Supplier have reviewed or settle for duty for the adequacy or accuracy of this launch.

Cautionary Word Relating to Ahead-Trying Statements

This press launch accommodates “forward-looking statements” throughout the which means of relevant securities legal guidelines. All statements contained herein that aren’t clearly historic in nature might represent forward-looking statements. Usually, such forward-looking data or forward-looking statements could be recognized by means of forward-looking terminology corresponding to “plans”, “technique”, “expects” or “doesn’t anticipate”, “intends”, “continues”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or might include statements that sure actions, occasions or outcomes “will likely be taken”, “will launch” or “will likely be launching”, “will embody”, “will enable”, “will likely be made” “will proceed”, “will happen” or “will likely be achieved”. The forward-looking data and forward-looking statements contained herein embody, however will not be restricted to, statements relating to: the Firm’s plans to provide varied by-product hashish merchandise; the Firm’s concentrate on customized processes and pharma grade merchandise for the grownup use and medical hashish trade in Canada; the Firm’s concentrate on maximizing its margins and market share; the Firm continued seek for new alternatives to extend its revenues by way of launches of recent merchandise below its present manufacturers; the Firm’s securing of the said SKUs and variety of anticipated SKUs launches below the offered timelines; the Firm’s said plans to maintain and develop its market share, together with, the growing of the notice the Firm’s manufacturers, the standard and flavour profile of its merchandise, providing worth and efficiency; and the Firm’s plans to reinforce its product growth capabilities by differentiating its merchandise with its rivals.

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Ahead-looking data on this information launch are based mostly on sure assumptions and anticipated future occasions, particularly: the Firm has the power to provide varied by-product hashish merchandise; the Firm will concentrate on customized processes and pharma grade merchandise for the grownup use and medical hashish trade in Canada; the Firm will concentrate on maximizing its margins and market share; the Firm will proceed its seek for new alternatives to extend its revenues; the Firm has the power to hold out its anticipated SKUs launches below the offered timelines; the Firm has the power to cut back value by way of elevated effectivity in its inner processes and partnerships; the Firm has the power to reward and retain its personnel; the Firm has the power to hold out its said plans to maintain and develop its market share; and the Firm has the power to reinforce its product growth capabilities by differentiating its merchandise with its rivals.

These statements contain identified and unknown dangers, uncertainties and different elements, which can trigger precise outcomes, efficiency or achievements to vary materially from these expressed or implied by such statements, together with however not restricted to: the Firm’s incapability to provide varied by-product hashish merchandise; the Firm’s incapability to concentrate on customized processes and pharma grade merchandise for the grownup use and medical hashish trade in Canada; the Firm’s incapability to concentrate on maximizing its margins and market share; the Firm’s incapability to proceed its seek for new alternatives to extend its revenues; the Firm’s incapability to hold out its anticipated SKUs launches below the offered timelines; the Firm’s incapability to cut back value by way of elevated effectivity in its inner processes and partnerships; the Firm’s incapability to reward and retain its personnel; the Firm’s incapability to hold out its said plans to maintain and develop its market share; and the Firm’s incapability to reinforce its product growth capabilities by differentiating its merchandise with its rivals.

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Readers are cautioned that the foregoing record is just not exhaustive. Readers are additional cautioned to not place undue reliance on forward-looking statements, as there could be no assurance that the plans, intentions, or expectations upon which they’re positioned will happen. Such data, though thought-about cheap by administration on the time of preparation, might show to be incorrect and precise outcomes might differ materially from these anticipated.

Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion and mirror the Firm’s expectations as of the date hereof and are topic to alter thereafter. The Firm undertakes no obligation to replace or revise any forward-looking statements, whether or not due to new data, estimates or opinions, future occasions, or outcomes or in any other case or to clarify any materials distinction between subsequent precise occasions and such forward-looking data, besides as required by relevant legislation.

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