TORONTO–()–Bluma Wellness Inc. (the “Company” or “Bluma Wellness”) (CSE: BWEL.U) is happy to supply its sufferers and traders with an end-of-month gross sales and operations report for the month ended September 30, 2020. These monetary outcomes haven’t been reviewed or audited by the Company’s auditors.

Financial Highlights, September 2020

Bluma Wellness is happy to supply the next gross sales and monetary highlights from the month of September 2020:

  • Revenue1: $1,738,275
  • Gross Price Per Pound2: $7,291.45
  • Ounces of Dried Medical Cannabis Flower Sold: 3788 oz
  • Milligrams (mg) of tetrahydrocannabinol (THC) Sold: 3,114,914 mg

During the month of September, One Plant Florida, the Company’s wholly-owned, licensed working subsidiary, averaged gross sales of 763 ounces of dried medical hashish flower per retail dispensary, and 758,218 mg of distillate/oil bought per retail dispensary. Those gross sales positioned One Plant Florida third in ounces of dried medical hashish flower bought per retail dispensary when put next in opposition to all different Medical Marijuana Treatment Centers (“MMTCs”) in Florida, and ninth in mg of THC bought per retail dispensary when put next in opposition to all MMTCs in Florida, in every case in accordance with revealed information from the Florida Office of Medical Marijuana Use (“OMMU”).

THC Sold (mg)/common ozsold per retail dispensary in comparison with rivals, September 20203

  • Trulieve: 1544 ozof dried flower / 4,321,854 mg of THC bought per dispensary, primary in common ounces of flower bought per dispensary
  • GTI: 768 ozof dried flower / 685,417 mg of THC bought per dispensary, quantity two in common ounces of flower bought per dispensary
  • One Plant: 763 ozof dried flower/ 758,218 mg of THC bought per dispensary, quantity three in common ounces of flower bought per dispensary
  • Grow Healthy: 706 ozof dried flower / 1,183,808 mg of THC bought per dispensary, quantity 4 in common ounces of flower bought per dispensary
  • AltMed Florida (MuV): 561 ozof dried flower/ 2,598,743 mg of THC bought per dispensary, quantity 5 in common ounces of flower bought per dispensary
  • Suterra Wellness: 501 ozof dried flower/ 1,202,968 mg of THC bought per dispensary, quantity six in common ounces of flower bought per dispensary
  • Harvest: 392 ozof dried flower/ 865,381 mg of THC bought per dispensary, quantity seven in common ounces of flower bought per dispensary
  • Liberty Health Sciences: 335 ozof dried flower/ 950,291 mg of THC bought per dispensary, quantity eight in common ounces of flower bought per dispensary
  • Curaleaf: 308 ozof dried flower/ 1,551,792 mg of THC bought per dispensary, quantity 9 in common ounces of flower bought per dispensary
  • Fluent: 292 ozof dried flower/ 1,032,209 mg of THC bought per dispensary, quantity ten in common ounces of flower bought per dispensary

Looking Ahead (Fall 2020)

For the month of September, One Plant Florida noticed a 71 p.c improve in income and a 49 p.c improve in ounces of medical hashish flower bought over the prior month of August, according to revealed figures from the Florida OMMU, reflecting the growth of the Company’s cultivation footprint by way of elevated provides from its new, fully-operational harvest, processing, and lab services in Indiantown, Florida.

Bluma Wellness opened One Plant Florida’s fifth retail dispensary location and supply hub within the State of Florida, positioned in Ocala, Florida, on September 25, 2020. The Ocala retail dispensary and supply hub is positioned at 811 NE 36th Avenue, Ocala, Florida, 34952, near town’s downtown district. Qualified sufferers can be taught extra in regards to the new Ocala location and One Plant Florida’s different retail dispensary places by visiting www.oneplant.us.

In addition to its new Ocala location, Bluma Wellness intends to open 4 (4) extra One Plant Florida retail dispensary places and/or supply hubs by the tip of 2020, together with in Avon Park (anticipated on or earlier than October 16, 2020), Orlando (Fern Park) (anticipated on or earlier than October 30, 2020), North Miami and Bonita Springs, pending receipt of all required native approvals and regulatory approvals from the Florida OMMU.

Bluma Wellness Announces Debt Settlement Agreement

The Company additionally introduced that it has entered right into a Debt Settlement Agreement with an arm’s size creditor (the “Creditor”) that paid bills for and on behalf of the Company in the middle of offering providers to the Company (the “Debt Settlement Agreement”). Pursuant to the phrases and topic to the situations of the Debt Settlement Agreement, the Company will situation an mixture of two,750,000 widespread shares within the capital of the Company (every a “Common Share”) to the Creditor at a deemed worth of US$0.557 per Common Share, in satisfaction of debt owing by the Company to the Creditor within the mixture quantity of US$1,532,679.00. The Common Shares shall be topic to a statutory maintain interval which can expire 4 months and sooner or later from the date of issuance in accordance with relevant securities legal guidelines.

About Bluma Wellness Inc.

Bluma Wellness Inc. owns and operates a vertically-integrated, licensed medical hashish firm within the State of Florida doing enterprise as “One Plant Florida.” One Plant Florida cultivates, processes, dispenses and retails medical hashish to certified sufferers within the State of Florida by way of a number of retail dispensaries and an modern next-day door-to-door e-commerce dwelling supply service, thereby providing handy entry for its clients and assembly the calls for of an evolving retail panorama. Bluma Wellness plans to proceed increasing its cultivation and distribution operations because the Florida market grows and could enter into different US states the place the manufacturing, distribution and use of hashish is permitted beneath state legislation.

Additional Information

The Company’s securities haven’t been and is not going to be registered beneath the U.S. Securities Act and will not be supplied or bought within the United States or to a U.S. Person absent registration or an relevant exemption from the registration requirement. This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase nor shall there be any sale of the securities in any jurisdiction through which such provide, solicitation or sale can be illegal.

Forward-Looking Information

This information launch comprises “forward-looking information” inside the which means of relevant Canadian securities legal guidelines together with the issuance of the Common Shares pursuant to the Debt Settlement Agreement, the deliberate opening of extra retail dispensaries and supply hubs in Florida, the growth of One Plant Florida’s dwelling supply and curbside pickup community, and the Company’s strategic enterprise plans. Although the Company believes, in gentle of the expertise of its officers and administrators, present situations and anticipated future developments and different components which were thought-about applicable, that the expectations mirrored on this forward-looking data are cheap, undue reliance shouldn’t be positioned on them as a result of the Company may give no assurance that they’ll show to be appropriate. Readers are cautioned to not place undue reliance on forward-looking data. Actual outcomes and developments could differ materially from these contemplated by these statements resulting from quite a lot of identified and unknown dangers and uncertainties together with, with out limitation: dangers referring to hashish being unlawful beneath US federal legislation and dangers of US federal enforcement actions associated to hashish actions; the Company’s potential to adjust to all relevant governmental laws in a extremely regulated enterprise; unfavourable modifications within the political setting or within the regulation of medical hashish within the state of Florida; the danger of any disruptions to the Company’s enterprise and operations on account of the COVID-19 pandemic; unfavourable shifts in public opinion and notion of the hashish trade and hashish consumption; rising competitors within the trade; dangers of product legal responsibility and different safety-related legal responsibility on account of utilization of the Company’s hashish merchandise; the Company’s restricted working historical past with no assurance of profitability; the flexibility of the Company to entry future financing if wanted or on phrases acceptable to the Company; the danger of defaulting on its current debt; danger of shortages of or worth will increase in key inputs, suppliers and expert labor; the dangers inherent in operating agricultural operations comparable to pests and crop failure; lack of licenses; reliance on key personnel; cybersecurity dangers; constraints on advertising merchandise; fraudulent exercise by staff, contractors and consultants; tax and insurance coverage associated dangers and danger of litigation.

The forward-looking data on this press launch are made as of the date of this launch. The Company doesn’t undertake any obligation to replace forward-looking data besides as required by relevant securities legal guidelines.

1 IFRS

2 Gross Price per Pound is calculated as whole income divided by whole kilos of dried medical hashish flower bought.

3https://knowthefactsmmj.com/about/weekly-updates/

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