MJardin Releases Third Quarter 2019 Financial Results

Q3 and YTD 2019 Highlights:

• Revenue of $7.6 million, includes $0.8M contribution from Cheyenne since acquisition date;
• Generated positive Adjusted EBITDA of $0.5 million;
• Sequential revenue growth from AMI facility of 47% compared to the prior quarter;
• Improved efficiencies by reducing corporate overhead by 45%;
• Announced first EU Supply agreement from the AMI facility for 250 KG a month beginning in the first quarter of 2020;
• Submitted application to Health Canada for a cultivation license at MJardin’s “GRO” facility in Dunnville, Ontario and received official RMI from Health Canada. MJardin expects full licensing at the facility by Q4 2019;
• Production metrics at our AMI and WILL facility continue to produce at approximately 60 grams per square foot;
• MJardin anticipates providing revised guidance as part of its full-year 2019 financial reporting in early 2020.