190% Increase in Revenue - SinglePoint (OTCQB: $SING) Announces Preliminary Unaudited 2019 Annual Results, Residential Solar Business Unit is the Primary Driver for the Increase in Revenues and Achieves Business Unit Profitability

190% Increase in Revenue - SinglePoint (OTCQB: $SING) Announces Preliminary Unaudited 2019 Annual Results, Residential Solar Business Unit is the Primary Driver for the Increase in Revenues and Achieves Business Unit Profitability

190% Increase in Revenue, From $1.1 Million to $3.3 Million, Projecting to Continue Triple Digit Revenue Growth Primarily Powered by Residential Solar in 2020

Text SinglePoint to 37284 to Receive Corporate Updates*

Text Solar to 37284 to Receive Industry Updates*

• CEO anticipates SING will achieve between $10M-$12M in gross revenues this year, up from $10 million announced in CEO letter in January 2020
• Company to focus on Direct Solar, 1606 Original Hemp product line
• SinglePoint plans to drive 2020 vision through organic growth in high-value, high-opportunity markets and synergistic acquisitions

PHOENIX, AZ - February 18, 2020 (Investorideas.com Newswire) SinglePoint Inc. (OTCQB: SING) releases preliminary (unaudited) annual results achieving over $3,300,000 in revenue. SinglePoint continues to show progress and annual revenue traction delivering increased revenue in the triple digits, 190% increase from 2018 to 2019. $2,000,000 in annual revenue was directly derived from Direct Solar of America in approximately six months of operations. Annualizing these results would have delivered over $5,000,000 in 2019 revenue. The 2020's are positioned to be the decade of solar, and with SinglePoint's acquisition of Direct Solar of America and its emerging business units, SinglePoint anticipates significant and sustained growth through the decade.

Read this news featuring SING in full at https://www.investorideas.com/CO/SING/news/2020/02181Increase-Revenue.asp

SING: SinglePoint Historical Chart

Direct Solar America, at the time of acquisition by SinglePoint, was almost solely focused on expanding its national footprint by expanding into additional states with its unique and scalable residential solar brokerage model. The residential solar segment delivered nearly all the revenues and ended the year as a profitable business unit. The residential solar business unit will continue to expand into new markets, adding incremental revenue, while continuing to cultivate and close additional revenue opportunities in established markets.

New market expansion and increased efficiencies should deliver continued revenue growth and the Direct Solar of America residential business unit is targeting an annual revenue range of $7-$10M for 2020.

Throughout the year, Direct Solar America identified additional high-caliber revenue opportunities in underserved markets within the domestic solar market. The company created commercial and capital business units committing internal capital and resources, along with forging relationships with industry and strategic segment specific business partners to address these opportunities. Direct Solar America, directly and through its partnerships have engaged and made proposals to multiple schools and commercial type projects throughout the United States on the benefits of going solar. Many of these projects are in the review stage and would result in significant revenue and profitability that is purely incremental and accretive to the existing projections for the residential solar division.

According to SEIA, "The U.S. installed 2.6 gigawatts (GW) of solar PV capacity in Q3 2019 to reach 71.3 GW of total installed capacity, enough to power 13.5 million American homes. Residential solar saw its best quarter in history in Q3, and the utility-scale solar pipeline now stands at a record 45.5 GW in Q2. Total installed U.S. PV capacity is expected to more than double over the next five years." The press release goes on to say, "The increase in residential installations helped the U.S. solar market grow 45% year-over-year and contributed to 15 states having their best quarter ever for residential solar."

Solar is growing in the investing world; many large players are continuing to increase shareholder value. Invesco Solar ETF (TAN) ran up 51% in just one year, becoming 2019's best-performing ETF. Many others have jumped in as well such as Warren Buffett investing in one of the largest solar projects to date and Goldman Sachs launch a fund with approximately $4,000,000,000 in available capital. These are just a few selections that showcase the strength of solar and renewable options in the market.

"I am confident that our business units will continue to grow which translates to SinglePoint being in a better position than we have ever been. We believe the successful operating results in 2019 will continue into 2020 driving our value past historical values to new heights," states Greg Lambrecht, CEO. "In my opinion, it's never been a better time to be a shareholder of SinglePoint; we have growing business units in thriving sectors, we have recently become a fully reporting public company and are committed to continuing to enhance shareholder liquidity by uplisting to the appropriate exchange that allows investors to confidently invest in the company due to its trading volume."

Our proprietary brand of smokable hemp, 1606, continues to expand into new accounts fueled by the increasing consumer demand for additional products that deliver the benefits of CBD of our proprietary brand of smokable hemp products, 1606.

The Company's 1606 Original Hemp brand was launched at the MJBIZCON Show in Las Vegas. Executives and senior management recently attended the TPE "Tobacco Show" in Las Vegas which verified that retail is looking for a product that satisfies the growing consumer demand for hemp and CBD based products. The 1606 Original Hemp brand is an exclusive line of products that capitalizes on the emerging trend in the smokable hemp market and has already been picked up by distributors and retail outlets, Lambrecht reported. "We are encouraged by the reception and demand this new product category received at [NACS]," he said. "Our success at NACS with the smokable hemp product allowed SinglePoint to secure a distribution agreement to distribute PrimeTime Flavored Cigars with Japan Tobacco USA, a division of Japan Tobacco International which operates in over 130 countries."

About SinglePoint, Inc.

Founded in 2011 SinglePoint, Inc (SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multinational brand.

Connect on social media at:

https://www.facebook.com/SinglePointMobile

https://twitter.com/_Singlepoint_

https://www.linkedin.com/company/singlepoint

https://www.youtube.com/user/SinglePointMobile

For more information visit: www.SinglePoint.com

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

*Message and data rates may apply. By opting into our text or email programs you may receive up to 1 communication per day containing industry updates and/or corporate updates relating to SinglePoint and its subsidiaries.

KEYWORDS: SOLAR, SOLAR STOCK, SOLAR PANELS, RENEWABLE ENERGY, SOLAR PUBLIC COMPANY

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#Mining Stock News: #SilverCrest (TSX: $SIL.TO; NYSE: $SILV) Announces Highest-Grade Discovery to Date at Las Chispas, Area 200 zone

#Mining Stock News: #SilverCrest (TSX: $SIL.TO; NYSE: $SILV) Announces Highest-Grade Discovery to Date at Las Chispas, Area 200 zone

·       1.4 metres est. true width at 16,189 gpt AgEq

·       2.4 metres est. true width at 9,006 gpt AgEq

·       1.6 metres est. true width at 13,345 gpt AgEq

Vancouver, British Columbia - February 18, 2020 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSX: SIL.TO; NYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce a new discovery and additional drill results from the Babicanora Norte Vein ("Babi Norte Vein", or "Babi Norte", or the "Vein") of the Las Chispas Project ("Las Chispas") located in the state of Sonora, Mexico. Today's release includes results for a total of 216 holes, 65% of which are in-fill holes and 35% expansion holes, and announces the new discovery of the Babi Norte southeast faulted extension named "Area 200 zone" or "Area 200" after the discovery drill hole BAN19-200, which intercepted 2.0 metres (true width) grading 6,418 grams per tonne ("gpt") silver equivalent ("AgEq", defined in table below). With this discovery, the Babi Norte Vein becomes the highest-grade vein currently known on the property.

Read this news featuring Silvercrest in full at https://www.investorideas.com/CO/SILV/news/2020/01181LasChispas.asp

Expansion drilling has significantly increased the strike length of the Babi Norte Vein from 1.2 kilometres, as previously announced on February 25, 2019, to over 2.0 kilometres.

Thirty-nine (39) of the 216 holes establish an initial high-grade footprint for Area 200 of 500 metres long by 125 metres in height (see attached Figures). Drill results for these 39 holes in Area 200 show an average est. true width of 1.5 metres with a weighted average grade of 16.11 gpt gold ("Au") and 2,166.5 gpt silver ("Ag"), or 3,375 gpt AgEq (uncut undiluted).

Area 200 is not included in the current resource estimate. For reference, the current Babi Norte Vein model includes 8.6M oz AgEq indicated resources (130,500 tonnes at 11.57 gpt Au and 1,180 gpt Ag, or 2,047 gpt AgEq) and 12.5M oz AgEq inferred resources (277,700 tonnes at 8.21 gpt Au and 780 gpt Ag, or 1,395 gpt AgEq) and is based on a high-grade footprint 125 metres in height and only 900 metres of the estimated 2.0 kilometres strike length. Please refer to the "Technical Report and Preliminary Economic Assessment ("PEA") for the Las Chispas Property, Sonora, Mexico", dated effective May 15, 2019, as amended July 19, 2019, available on SEDAR. Babi Norte now has a total of 274 drill holes, including Area 200, which will be part of the updated resource and initial reserve estimate for the Feasibility Study ("FS") to be released in late H1, 2020. The cutoff date for drill data to be included in the FS is the end of February 2020.

N. Eric Fier, CPG, P.Eng, and CEO, remarked, "Since the high-grade discovery in January 2018 of the Babicanora Vein, Area 51 zone, the SilverCrest technical team has been systematically testing out its theory of "the Nature of Multiples" for the potential to discover parallel high-grade precious metal veins and zones similar to Area 51. With the high-grade discoveries of Las Chispas Vein, Area 118, in November 2019, and now the Babi Norte Vein, Area 200, this work has proven effective. Area 200, approximately 500 metres in strike length, is now considered the highest-grade discovery to date at Las Chispas and, combined with the remaining 1.5 kilometres strike length of the Vein, is the longest mineralized vein in the district, surpassing the Babicanora Vein. Area 200 is proximal to the Santa Rosa Decline, suggesting it could be easily accessed with minimal underground development.

Congratulations to the SilverCrest team on another high-grade discovery and its ability to aggressively advance this for FS inclusion."

The most significant results for this release are Hole BAN19-274, at 1.4 metres (est. true width) grading 90.22 gpt Au and 9,422.3 gpt Ag, or 16,189 gpt AgEq, and Hole BAN19-213, which intersected 2.4 metres grading 45.71 gpt Au and 5,577.3 gpt Ag, or 9,006 gpt AgEq. Also, noteworthy is Hole BAN19-243 at 1.6 metres grading 75.78 gpt Au and 7,661.9 gpt Ag, or 13,345 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted);

Babicanora Norte Vein, Area 200 zone only:

Babicanora Norte Vein, Babicanora Area (all new significant holes greater than 1,000 gpt AgEq):

Note: all numbers are rounded. Based on a cutoff grade of 150 gpt AgEq with no minimum width.

* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada and Bureau Veritas (Inspectorate Ltd.) in Hermosillo, Mexico.

In summary, of the 216 newly reported holes, 115 holes were below the cutoff grade. Specifically, holes BAN19-57, 58, 61 to 63, 65, 67 to 70, 72, 73, 75, 76, 81, 82, 84 to 86, 88, 89, 91 to 93, 96, 97, 100A, 105, 106, 112, 114 to 118, 121 to 123, 125 to 128, 131 to 134, 136, 139 to 144, 149, 152, 154, 155, 157, 159, 162 to 164, 168, 169, 171 to 173, 175, 176, 179 to 181, 184 to 186, 188, 190, 191, 193, 194, 196, 197, 199, 201, 203 to 205, 208, 212, 215, 217, 220 to 222, 224, 229 to 231 and BAN20-237, 241, 242, 244, 246, 248 to 250, 254, 255, 260, 262, 263, 266 and 270 to 272 intersected veining but were below the Company's cutoff grade of 150 gpt AgEq. BAN20-267 and BAN20-273 are pending assays and will be reported when available.

While drilling for the Babi Norte Vein, several intercepts were made in unnamed veins (hangingwall and footwall veins), with the most significant results below:

·        BAN19-66: 0.4 metres grading 4.25 gpt Au and 716.0 gpt Ag, or 1,035 gpt AgEq;

·        BAN19-71: 1.0 metres grading 1.93 gpt Au and 601.2 gpt Ag, or 746 gpt AgEq;

·        BAN19-80: 0.4 metres grading 4.84 gpt Au and 800.0 gpt Ag, or 1,163 gpt AgEq;

·        BAN19-95: 0.4 metres grading 17.0 gpt Au and 2,080.0 gpt Ag, or 3,359 gpt AgEq;

·        BAN19-120: 0.5 metres grading 3.68 gpt Au and 591.0 gpt Ag, or 867 gpt AgEq;

·        BAN19-167: 0.5 metres grading 27.10 gpt Au and 1,765 gpt Ag, or 3,798 gpt AgEq;

·        BAN19-182: 0.5 metres grading 7.46 gpt Au and 704.0 gpt Ag, or 1,263 gpt AgEq;

·        BAN19-225: 0.4 metres grading 9.22 gpt Au and 1,001.0 gpt Ag, or 1,692 gpt AgEq;

·        BAN19-228: 0.9 metres grading 3.75 gpt Au and 460.6 gpt Ag, or 742 gpt AgEq;

·        BAN20-253: 0.4 metres grading 19.45 gpt Au and 2,120 gpt Ag, or 3,579 gpt AgEq; and

·        BAN20-265: 0.9 metres grading 3.51 gpt Au and 622.6 gpt Ag, or 886 gpt AgEq.

Further work will be completed on these unnamed veins for possible inclusion into the ongoing updated resource and FS.

The discovery of Area 200 provides a better understanding of the Las Chispas epithermal vein mineralization, which should help to refine "the Nature of Multiples" testing of the next vein targets (see attached Figures). The Babi Norte Vein and Area 200 zone are still open to depth and down plunge. Current drilling focus is on expanding Area 200 and applying similar exploration methods which discovered Area 118 and Area 200 to the adjacent Babi Vista and unnamed Babicanora Norte HW and FW veins. SilverCrest has identified 36 veins on the Las Chispas project, with only 11 veins sufficiently drill-tested to-date for resource estimation and reserve consideration. The number of veins to be included in the FS is still being determined.

The Company now has 19 drill rigs operating at site and allocated as follows:

·        11 rigs focused on Babi Norte, including Area 200, where several additional in-fill and expansion holes will be completed in Q1, 2020;

·        one (1) rig on the Babicanora and Babicanora FW veins finalizing in-fill holes for updated resources and reserve estimation;

·        one rig (1) on the Babi Vista Vein for in-fill and expansion; and

·        six (6) rigs are drilling the Giovanni Vein, Las Chispas Vein, and Area 118 for in-fill and expansion for inclusion in the FS.

The Company has delivered the updated drill hole database as of February 13, 2020 for the Babicanora Area veins, excluding Babi Norte, to independent consultant, GMining Services Inc. ("GMining"), for updated resource estimation and reserve estimation in the ongoing Feasibility Study anticipated in late H1, 2020. The remaining data including Las Chispas Area veins and Babi Norte Vein will be submitted to GMining by the end of February 2020.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.

ABOUT SILVERCREST METALS INC.

SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. The Las Chispas Project consists of 28 100%-owned mineral concessions where all of the resources are located. SilverCrest is the first company to successfully drill-test the historic Las Chispas Project, resulting in numerous discoveries that are being evaluated for economic viability and potential production in the future. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration and drilling programs of the Las Chispas Property, including metallurgical test, mineralization estimates and grades for drill intercepts, permitting for various work, and optimizing and updating the Company's resource model and preparing a feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Las Chispas Property. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Figure 1: Babicanora Area Plan Map - February 2020

Figure 2: Babicanora Area, Looking Southwest

Figure 3: Long Section (Inclined) of Babicanora Norte (BAN) Vein Looking Southwest

Figure 4: Insert 1 - Long Section (Inclined) Babicanora Norte Vein, BAN Area 200 Looking Southwest

Figure 5: Insert 2 - Long Section (Inclined) Babicanora Norte Vein, BAN Central Looking Southwest

Figure 6: Insert 3 - Long Section (Inclined) Babicanora Norte Vein, BAN NW Looking Southwest

N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.

For Further Information:

SilverCrest Metals Inc.
Contact: Jacy Zerb, Investor Relations Manager
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1

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Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NYSE: $CGC) (TSX: $RIV.TO) (CSE: $AGRA.C) (TSXV: $ENW.V)

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Delta, Kelowna, BC, February 14, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca  release today’s podcast edition of  cannabis news and stocks to watch plus insight from thought leaders and experts.

Listen to the podcast:

http://www.investorideas.com/Audio/Podcasts/2020/021420-StocksToWatch.mp3

Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/02141WEED-CGC-RIV-AGRA-ENW.asp

Hear Investor ideas cannabis potcast on iTunes  

Today’s podcast overview/transcript:

Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.

In today’s podcast we look at a few early announcements.

But first, an upcoming event in Toronto, "Dope Cocktails" is Toronto's first public event of its kind and will be held at The Jam Factory on Thursday, February the 20th from 5pm to 10pm.

This groundbreaking event gives guests the opportunity to sip and sample non-alcoholic THC and CBD cannabis-infused cocktails.  Dope Cocktails is an upscale-adult evening for people who want to relax and enjoy delicious handcrafted non-alcoholic, cannabis-infused cocktails.

Cocktails:

THC cocktails: Diesel Sour, Cookies and Cream,  Pineapple Express,

Canna-colada,  Pink Panther Margarita, Couch Lock Collins

CBD cocktails: 416^er Elixir, The Calm after the Storm, CBD Mojito

For the THC "canna-seurs" at the event, additional mgs/THC drops will be available, however, for the moderate and less experienced members of the cannabis community, we recommend that they enjoy our cocktails as they were professionally created for this event.

Admission:

$135 plus taxes and fees

The event's one price, all-inclusive ticket includes admission to the event, DJ, art installations and 2 food items.  Nine handcrafted dope cocktails will be gifted to each guest.

As well, the Cannabis Drinks Expo is slated for multiple locations this year with the Beverage Trade Network bringing the expo to San Francisco on July 30^th and Chicago on August 3^rd.

Historically drawing hundreds of cannabis industry leaders, the event’s stated theme, “Growing Your Cannabis Drinks Business,” is geared to prime attendees with critical information on a variety of important topics. Conference-goers will enjoy opportunities to interact with experts from all levels of the cannabis beverage ecosystem, including distributors and retailers, political and legal analysts, medical researchers, and marketing and branding experts.

The Bay City location is symbolic of the industry’s charted direction. Longtime host city of events for the global wine and spirits industry, beverage industry enthusiasts have met to discuss its growth for many years; now, that growth path includes cannabis beverages.

“Choosing San Francisco as the host city for our first event this year made a lot of sense,” noted Beverage Trade Network CEO and founder Sid Patel. “California has now emerged as an influential voice determining the future growth of the cannabis drinks industry.”

The one-day B2B expo and conference will partially focus on the emerging relationship between California’s wine industry and its freshly legalized recreational cannabis industry. Wine and cannabis industry experts will lead discussions on a myriad of topics, including the current regulatory and policy landscape for cannabis drinks, licensing requirements, and marketing opportunities within the hospitality and tourism sectors. Once viewed as a competitive threat, the cannabis beverage industry is recently being embraced by winemakers and grape growers to foster mutually beneficial collaboration, and the 2020 Cannabis Drinks Expo celebrates that evolving relationship.

For industry enthusiasts located closer to the Midwest, the summer’s second Cannabis Drinks Expo will be held at the Midwest Conference Centre in Northlake, Illinois—approximately 30 minutes from Chicago. The event will consist of both a business conference and a trade show floor for exhibitors and presents attendees with an opportunity to meet new partners with expertise in growing, manufacturing, distribution, packaging and branding. The expo’s tradeshow floor format allows for maximum interaction between participants and trade partners.

With potential exhibitors in a variety of verticals, such as medical marijuana production, cannabis production, wineries, breweries, distilleries, pharma companies, marijuana-infused products, edibles providers and more, the exhibition is set to provide a well-rounded view of the cannabis beverage industry’s future alongside other established sectors.

Experts will offer sessions on a variety of industry-specific topics, including the following:

●     Up-and-coming innovations

●     Insights and innovations regarding the current legal and regulatory environment

●     Emerging business models

●     New routes to market and distribution channels

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) today announced its financial results for the third quarter ended December 31, 2019.

Some of the Third Quarter Fiscal 2020 Corporate Financial Highlights included:

●     Revenues: Reported Net Revenues increased 62% over Q2 2020, or 13% excluding the impact of portfolio restructuring charges. Gross Recreational B2B revenue increased 8% over prior quarter due, in part, to over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints. Our acquired businesses including Storz & Bickel and This Works also performed well, contributing to organic growth this quarter.

●     Gross margin: Gross margin before fair value impacts was 34%. Gross margin performance in quarter benefited from lower period costs due to higher facility utilization

●     Operating expenses: Total operating expenses decreased 14% versus Q2 2020 primarily due to a $20 million reduction in G&A expenses and over $31 million lower stock-based compensation versus the prior quarter

●     Adjusted EBITDA: Adjusted EBITDA loss of $92 million, a $64 million narrower loss versus Q2 2020 driven by higher sales, improved gross margins and lower operating expenses

●     Cash Position: Gross cash balance was $2.3 billion, down from $2.7 billion in Q2 2020, reflecting the EBITDA loss, capital investments and M&A

"In Q3 we executed across Canada, in our international markets and in our strategic acquisitions to drive revenue growth," said David Klein, CEO. "We have a lot of work to do.  We are eager to capitalize on the opportunity to create an unassailable position through a tight focus on the consumer and on critical markets."

"We delivered significant gross improvement in the third quarter driven by stronger revenues and higher capacity utilization. Actions taken earlier this year are expected to meaningfully reduce stock-based compensation in FY21, and we have started to implement tighter cost controls across the organization," said Mike Lee, EVP & CFO. "We plan to take further steps to reduce our costs and right-size our business to ensure that we can generate a healthy margin profile and cash generation in the coming years."

Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today released its financial results for the three and nine months ended December 31, 2019. The Company's unaudited condensed interim consolidated financial statements for Q3 2020, and its management's discussion and analysis for Q3 2020, are available under the Company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the Company's website at www.canopyrivers.com/investors/financials-and-public-filings.

All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

"In the third quarter, we continued pursuing our goal to become the leading venture capital firm building the cannabis industry of tomorrow," said Narbé Alexandrian, President & CEO, Canopy Rivers. "We focused primarily on follow-on investments in our existing portfolio of innovative companies, further developing the Canopy Rivers ecosystem through collaborative partnerships, and evaluating where we think the next wave of disruption will come from as the global cannabis market continues to evolve and mature. Our aim is to build on this momentum as we look to have a successful 2020."

"It was a challenging end to 2019 for the valuations of publicly-traded cannabis companies, which naturally impacted our results for the quarter," said Eddie Lucarelli, CFO, Canopy Rivers. "However, we continue to believe that these headwinds for the cannabis sector are temporary, and that the strength of our balance sheet positions us well to weather the storm. A strong pipeline of global investment opportunities, positive trends in supply chain and retail developments in Canada, and impending milestones at our portfolio companies truly excite us for what's to come in 2020."

AgraFlora Organics International Inc. (CSE: AGRA) (OTC: AGFAF), a growth oriented and diversified international cannabis company, announced that the Company has taken steps to accelerate the market growth of Whole Hemp Health, a proprietary line of hemp-derived cosmetic products developed/owned/manufactured by Canutra Naturals Ltd., a wholly owned subsidiary of AgraFlora.  The Company, via Canutra, has engaged Gatekeeper Growth Partners, an elite performance-marketing firm, to assist Canutra in driving the growth of its Whole Hemp Health products on online marketplaces such as Amazon.

Pursuant to a definitive agreement entered into between Canutra and Gatekeeper, Gatekeeper will deploy a proven arsenal of digital marketing tools to acquire new customers for Whole Hemp Health with the primary goal of accelerating growth through online and direct-to-consumer channels. This includes supporting the current Whole Hemp Health sales force with a proprietary suite of marketing technologies, including data-driven advertising campaigns that have a proven track record of driving conversions and sales for wellness products.  In particular, the Company will leverage Gatekeeper’s strong knowledge of and history of success on the Amazon platform, as well as other ecommerce marketplaces.

"We are pleased that we conform with Gatekeeper’s strict product criteria and to be selected as a partner to their proven sales model, which de-risks our online advertising strategy," stated Canutra CEO Tony Harris. "Gatekeeper only selects a few clients per year to partner with, and it is a testament to the quality and market potential of our products that they have chosen to work with Whole Hemp Health."

EnWave Corporation (TSX-V:ENW) (OTC: NWVCF) announced today that it has agreed to modify its Equipment Purchase Agreement with Medican Organic Inc., a subsidiary of The Green Organic Dutchman Holdings Ltd. (TSX:TGOD)(OTC:TGODF), that was previously announced on March 26, 2019. Under the terms of the original Purchase Agreement, TGOD purchased three 120kW Radiant Energy Vacuum ("REV™" ) machines equipped with Optional Support Equipment and Robotic Arms for installation at its Valleyfield, Quebec facility.

At the request of TGOD, due to its revised processing requirements and a phasing of the Valleyfield facility buildout, the capacity of REV™ machinery to be delivered to TGOD has been reduced to a single 120kW REV™ machine with an Optional Support Equipment and Robotic Arm system. TGOD has already taken possession of a 60kW REV™ machine for processing at its Ancaster, Ontario facility, which is slated for commissioning in the coming months.

TGOD has fully paid EnWave for the first 120kW REV™ machine and partially paid for the two REV™ systems that will no longer be delivered following the modification to the Purchase Agreement. The cash collected by EnWave related to the two REV™ systems that will not be taken by TGOD fully covers all the costs incurred by the Company related to fabrication, including an acceptable margin. The Company did not incur any losses as a result of the Purchase Agreement modification.

Pursuant to the Purchase Agreement modification, EnWave now owns the two partially fabricated 120kW REV™ systems and will seek to redeploy the systems in alternative projects within cannabis or food verticals.

The royalty-bearing commercial license agreement between EnWave and TGOD remains in good standing, and TGOD plans to leverage the operational benefits made possible through REV™ for the high-precision, controlled, rapid dehydration of cannabis. The Company anticipates receiving the first royalties from TGOD in fiscal year 2020.

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