Simply Better Brands Corp.’s PureKana Brand, Growing 362% Year-Over-Year, Completes Wholesale Distribution Expansion in Four Major U.S. Markets

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As PureKana broadens its path to market, it expands its portfolio to innovate beyond CBD into a wellness brand that meets diverse consumer needs.

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VANCOUVER, British Columbia, Sept. 26, 2022 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (« SBBC » or the « Company ») (TSX Venture: SBBC) (OTCQB: PKANF) is pleased to announce its expansion of the wholesale distribution of PureKana in the four major U.S. markets of California, Texas, Florida and Illinois. Building on its large direct-to-consumer presence, the expanded brick-and-mortar retail footprint now reflects wholesalers, pharmacies, convenience stores, as well as specialty CBD retail.

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After PureKana was recognized by Brightfield Group as one of the fastest growing brands in the category in its 2022 Mid-Year U.S. CBD Report, it is accelerating its growth with the acquisition of online customers of more than 13,000 consumers per month, the expansion of the new wholesale and consumer channel. innovation focused on a broader set of consumer needs statements. These sources of growth are the drivers of our growth of 362% compared to a year ago with a gross margin of 68% in the first half of 2022.

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Statements of innovation needs
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b43ef0e3-71be-47c9-87dc-7209c5678d45

“Through extensive consumer research, we identify hunting grounds for innovation for the ever-changing wellness consumer. With a more diverse set of active ingredients, new form factors and/or emerging cannabinoids, the PureKana brand is now tackling the issues of independent CBD consumers.For example, our recent launch of keto gummies and our upcoming nootropic offering do not contain CBD and the old staples of gummies and oils, will be supported by sublingual oral strips and hard candy for quick onset, portability and discreet use,” says Kathy Casey, CEO of Simply Better Brands.

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PureKana’s expanded wholesale team has made significant progress in expanding its national distribution footprint while focusing on its new portfolio of alternative innovation cannabinoids. In addition to the current footprint, the company has expanded its distribution in eight states to include: IL, WI, MN, FL, GA, NC, SC and CA. The eight-state expansion is driven by the entry of three new convenience and specialty gas distributors in the past six months.

Additionally, PureKana launched into the convenience channel in 58 premium locations in California’s Loop Neighborhood Market in September 2022. The new distribution will focus on our new portfolio of alternative cannabinoid conveniences and will be marketed in PureKana-branded counter displays to meet the needs of the on-the-go consumer as retailers seek to offset declining tobacco sales. « The convenience channel is rapidly adapting to trends in consumer demand, and our new launch plan will give us the opportunity to interact with thousands of consumers looking for new home-based wellness products. hemp, » says Joe Wichser, vice president of sales for Simply Better Brands. . « California is one of our largest markets for our direct-to-consumer business, allowing us to leverage our localized marketing capability to bring more wellness consumers to the doorstep of the Loop Neighborhood market. . » Loop Neighborhood Markets ranks 57th in the CSP 2022 Top 202 Convenience Store Chain Rankings.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b63700b9-9cfb-42d8-9c0f-8622de3893d1

PureKana’s wholesale team expects the convenience channel to lead growth by driving innovation across the category. As consumers begin to return to their pre-COVID shopping patterns, the convenience channel continues to evolve in its product offerings and adoption.

SBBC further announces today that it intends to pay the first two payments to Julianna Peña, for services rendered under an Ambassadorial Agreement effective as of May 1, 2022 (the “OK”) which include online posts, recommendations and social media content. Pursuant to the Agreement, the Company has agreed to pay the first two installments of an aggregate amount of C$66,380 through the issuance of 213,097 common shares (« Ordinary actions”) at a deemed price of C$0.30 which is determined based on the 10-day volume-weighted average price of the common shares on the date of this press release, the agreement and the issuance of shares are both subject to TSX Venture Exchange approval. The common shares are subject to a hold period of four months from the date of issue in accordance with applicable securities laws. For more information on the Agreement, SBBC refers the reader to its March 10, 2022 press release.

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About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omnichannel platform with diversified assets in emerging plant-based and holistic wellness consumer product categories. The company’s mission is focused on leading-edge innovation for informed millennials and Gen Zers in the fast-growing space of wellness, natural and clean, plant-based ingredients. The company continues to focus on expanding into high-growth consumer product categories including plant-based foods, clean-ingredient skincare and plant-based wellness. For more information about 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
Financial director
+1 (855) 553-7441
ir@simplybetterbrands.com