AYURCANN HOLDINGS CORP. PROVIDES CORPORATE UPDATE, AND GROWTH STRATEGY

Toronto, Ontario, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Ayurcann Holdings Corp. (CSE: AYUR, OTCQB: AYURF, FSE: 3ZQ0) (“Ayurcann” or the “Company”), a leading Canadian cannabis company specializing in the processing and manufacturing of cannabis 2.0 and 3.0 products in the recreational market, is pleased to provide a corporate update to its operations.

OPERATIONAL HIGHLIGHTS:

• Successfully grew product offerings to 60 stock keeping units (“SKUs”) across the country and became a top seller of products, including¹:
• Canadian retail penetration of over 70%, with Ontario at over 75%²
• Consistently offering new SKUs across the country, reflecting the innovation, reliability, and value that Ayurcann has brought to the recreational cannabis market in Canada, with over 20 new SKUs being launching over the next three to six months.
• Top Company brands: Fuego, XPLOR and H&S, are consistent performers across the country with increased market share.
• Focused on top selling categories, using, and improving existing efficiencies to enhance production and market share while addressing SKU rationalization and price compression.
  • In the 1g Vape Category:
  • Ayurcann Holdings Corp. (AYUR-L, NR) vape market share is starting to pick up steam, increasing to 7.3% in July 2023 (from 2.1% in July 2022) **
    • ACROSS CANADA #4
    • ONTARIO #4, ALBERTA #6, MANITOBA #2, SASKATCHEWAN #3
  • In the 1x0.5G Pre-Roll Category:
    • ACROSS CANADA #2
    • ONTARIO #1, ALBERTA #3, MANITOBA #3, SASKATCHEWAN #3
  • In the 2x1G Pre-Roll Category:
    • ACROSS CANADA #2
    • ONTARIO #1, ALBERTA #2, MANITOBA #2, SASKATCHEWAN #1
      
      

“As we continue to expand into more markets across the country with our offerings and store penetration, we are thrilled to report consistent growth despite the price compression and closures that continues to impact the cannabis industry. Ayurcann is proud to be debt free and have the ability to sustain its growth trajectory in the industry. With the growth of our in-house brands, Fuego, H&S, XPLOR our products are being embraced by cannabis consumers. Ayurcann plan is to continue and grow through a focused plan based on strategic relationships, partnerships, and innovation, we are very optimistic about our future, and the potential of becoming an industry leader. We have been successfully selling throughout various Provinces within Canada, including Ontario, British Columbia, Alberta, Yukon, New Brunswick, Manitoba, and Saskatchewan, and believe that continued interest from consumers and retailers will help elevate Ayurcann within the industry”, said Igal Sudman, Chief Executive Officer of Ayurcann.