- 15 locations operational across B.C, Ontario and Saskatchewan.
- $42.7M annual forecasted revenue
for next fiscal year.
- Company has plans to increase the operational footprint to 18
stores after opening its seventh B.C location in Kelowna and the potential development
locations in Ontario.
VANCOUVER, BC, Nov. 12, 2021 /CNW/ - Kiaro Holdings Corp. (TSXV:
KO) ("Kiaro" or the "Company") a Canadian cannabis
retailer and distributor, is pleased to announce the opening of its
latest retail location in Orleans,
Ontario (Unit D002, 3838 Innes Road, Orleans, Ontario, K1W 0C8). The brand
currently has 15 locations operational across B.C, Ontario and Saskatchewan.
"We continue to see the Kiaro brand grow across Canada, providing a best-in-class retail
cannabis experience to each and every customer we serve. The
continued increase in our retail footprint to a potential of 18
stores in early 2022 will drive us towards $42.7M in target revenue for the next fiscal
year" stated Daniel Petrov, Chief
Executive Officer of Kiaro.
After opening of Kiaro's seventh B.C location in Kelowna later this year and the potential
development locations in Ontario,
the company plans to grow the operational footprint to 18
stores.
Kiaro Holdings Corp.
Based in Vancouver, British
Columbia, Kiaro is an independent, omni-channel cannabis
retailer and distributor. Through existing storefronts across
British Columbia, Saskatchewan, and Ontario, and with the completion of the recent
acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro has 15
stores with another three expected in early 2022. This is in
addition to its wholesale distribution division servicing
Saskatchewan, and ecommerce sites
in Canada, the US and Australia. Kiaro is driven to introduce new
and experienced consumers to a lifelong exploration of cannabis.
With more than 70 years of collective retail and wholesale focused
experience, Kiaro's leadership team has a proven track record of
executing on acquisitions and financings, and moreover growing
brands across North America. The
Company plans to continue its growth trajectory through its
consumer-centric retail, ecommerce, and wholesale distribution
segments over the coming years.
Forward-Looking Information
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Kiaro, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the use of proceeds of the
Offering, overall growth of the Canadian cannabis market and retail
opportunities, the award of new operating permits and licenses in
various jurisdictions, the future trading price of the Common
Shares, and the timing and amount of any dispositions of the Common
Shares. Forward-looking statements should not be read as guarantees
of future performance or results, and will not necessarily be
accurate indications of whether, or the times at or by which, such
future performance will be achieved. No assurance can be given that
any events anticipated by the forward-looking information will
transpire or occur. Forward-looking information is based on
information available at the time and/or management's good-faith
belief with respect to future events and are subject to known or
unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond Kiaro's control. These risks,
uncertainties and assumptions include, but are not limited to,
those described in filing statement of the Company dated
September 29, 2020, a copy of which
is available on SEDAR at www.sedar.com, and could cause actual
events or results to differ materially from those projected in any
forward-looking statements. Furthermore, any forward looking
information with respect to future expansion plans is subject to
the qualification that management of Kiaro may decide, and the
assumptions that any construction or conversion would not be cost
prohibitive, required permits will be obtained and the labour,
materials and equipment necessary to complete such construction or
conversion will be available. Accordingly, readers should not place
undue reliance on the forward-looking statements and information
contained in this news release. Kiaro does not intend, nor
undertake any obligation, to update or revise any forward-looking
information contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if
required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
For more information, visit investors.kiaro.com
For our most recent analyst report, click here
SOURCE Kiaro Holdings Corp.
