Phoenix, Arizona–(Newsfile Corp. – July 18, 2022) – The Stock Day Podcast welcomed GABY Inc. (OTCQB: GABLF) (“the Company”), a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. CEO of the Company, Margot Micallef, joined Stock Day host Sever Copley.
Copley began the interview by asking about the Company’s background and current projects. “We are a California-focused retail consolidator of dispensaries,” said Micallef. “We bought our first dispensary in April of last year,” she shared. “It is called the Mankind Dispensary, and it is one of the highest grossing dispensaries in California.”
“Our goal is to consolidate in SoCal, using Mankind as the foundation for the SoCal market, and then look for a similar sized foundational dispensary in Northern California and growing in that area as well,” she continued. “We also have our own proprietary brand that we sell out of our store, and our goal is to grow our brands as we grow our retail chains.”
“My mission is to normalize cannabis consumption and to empower people to self-prescribe cannabis,” shared Micallef. “We do that through our retail location by having a self-serve model, unlike other dispensaries.”
“What sets GABY Inc. apart from all of the other companies?”, asked Copley. “I would say that it is our management team,” said Micallef. “One of the big failings in the cannabis industry has been lack of execution,” she explained. “We have been very selective with the team that we’ve put together, and my strength is in building teams,” she said. “Quite frankly, I believe we have the best management team in California cannabis.”
Copley then asked about the Company’s recently announced Q1 results, which reflected a 115% increase in revenues. “Part of that growth came from our moving to retail,” said Micallef, noting that the Company also made significant strides towards increased operational efficiencies. “When we acquired Mankind Dispensary, we also increased our revenues, and it all serves as an example of the fact that we execute.”
The conversation then turned to the investment potential of the cannabis industry. “There were a lot of large companies that raised significant capital and made a lot of promises, but did not deliver,” explained Micallef. “There is some justification for investors to be negative with cannabis,” she added. “However, if investors do their homework, they will find gems in the cannabis industry,” she shared. “The industry is succeeding; there are good companies to invest in, including GABY.”
To hear Margot Micallef’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/8122670-gaby-inc-discusses-q1-results-and-acquisition-strategy-with-the-stock-day-podcast
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind Dispensary is a well-known and highly respected dispensary with deep roots in the California cannabis community operating in San Diego. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Kind Republic™ Dank Space™ and Lulu’s™ through Mankind, A pioneer in the industry with a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY’s common shares trade on the Canadian Securities Exchange (“CSE”) under the symbol “GABY” and on the OTCQB under the symbol “GABLF”. For more information on GABY, visit www.GABYInc.com or the Company’s SEDAR profile at www.sedar.com.
For further inquiries, please contact:
Margot Micallef, Founder & CEO or Investor Relations at IR@GABYinc.com
Senior Communications Manager
Unless otherwise indicated, all references to “$” or “C$” in this press release refer to Canadian dollars and all references to “US$” in this Listing Statement refer to United States dollars.
Disclaimer and Forward-Looking Information
The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, management’s expected continued improvement to GABY’s profitability in 2022, the estimated current and future cost savings of the Company, the Company’s future business strategy, including its plans to expand organically and through future acquisitions or greenfield expansions, and the anticipated benefits to be derived from GABY’s New Standard Operating Procedures. Although GABY believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because GABY can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Without limitation, these risks and uncertainties include: the severity of the COVID-19 pandemic; risks associated with the cannabis industry in general; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal, state and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; the size of the medical-use and adult-use cannabis market; competition from other industry participants; adverse United States (“U.S.”), Canadian and global economic conditions; failure to comply with certain regulations; and departure of key management personnel or inability to attract and retain talent. GABY undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
To the extent any information contained in forward-looking statements in this press release constitutes “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated financial performance of the Company and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information or financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above for forward-looking statements. The Company’s actual financial position and results of operations may differ materially from its management’s current expectations and, as a result, the Company’s actual revenue may differ materially from the prospective revenue estimates or projections provided in this press release. Such information is presented for illustrative purposes only and may not be an indication of the Company’s actual financial position or results of operations for the applicable financial periods.
Selected financial information outlined above for the Company’s Q4 2021 and fiscal year ended December 31, 2021 should be read in conjunction with, GABY’s audited annual financial statements and management’s discussion and analysis for the three months and year ended December 31, 2021, which has been filed on the Company’s SEDAR profile at www.sedar.com and the Company’s website www.GABYinc.com.
Each of Mankind and GABY Manufacturing, are subsidiaries of GABY and hold a cannabis license in the State of California. Readers are cautioned that unlike in Canada which has Federal 032320-F legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), in the U.S., cannabis is largely regulated at the State level. Cannabis is legal in the State of California; however, cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY’s subsidiaries are conducted in a manner consistent with the State law of California, as applicable, and are in compliance with regulatory and licensing requirements applicable in the State of California, respectively. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiary of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiary. Any such proceedings brought against GABY, or its subsidiary may materially adversely affect the Company’s operations and financial performance generally in the U.S. market specifically.
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