Outstanding loan principal increased to $18.5 million as of March 31, 2020 and to $23.1 million on May 28, 2020 with loans to Heritage, Cresco, Hello Cannabis, JWC and Good Buds
Expanded financing solutions platform for cannabis industry with launch of Trichome Special Opportunities and Trichome Advisory Partners
Confirmed as successful bidder for assets of JWC for estimated consideration of $13.0 million, forecast pro-forma EBITDA of $10.0 million

TORONTO, ONTARIO / ACCESSWIRE / May 29, 2020 / Trichome Financial Corp. (the "Company" or "Trichome Financial") (CSE:TFC) today announced its financial results for the three-month period ended March 31, 2020 ("Q1 2020"). The complete Financial Statements and Management's Discussion and Analysis for the three-month period ended March 31, 2020, along with additional information about the Company and all of its public filings are available at www.sedar.com.

"Trichome Financial has made significant strategic progress thus far in 2020 to drive our business forward with a focus on maximizing returns on our shareholders' capital. Our platform of financial solutions to the global cannabis sector now comprises private credit, private equity and advisory services. Each of these business units will help us to capitalize both on the increasing need for capital across the sector and our ever expanding deal flow, while leveraging our unique sector expertise and complimentary skill sets," said Michael Ruscetta, Chief Executive Officer. "Most recently, we were successful in our stalking horse credit bid for the assets of James E. Wagner Cultivation. For the estimated consideration of $13.0 million, we have acquired state-of-the-art assets, free of liabilities and retained a focused operating team to produce up to 7,000kg of premium cannabis products for the Canadian recreational and medical markets. Based on our comprehensive operating plan, we estimate JWC alone can generate EBITDA of $10.0 million within 12 months and can serve as a base for the consolidation of similar assets. With access to capital still very difficult for many operators in the cannabis sector, we are confident there will continue to be excellent opportunities for Trichome Financial shareholders."

Business highlights

Highlights during Q1 2020:

Entered into a senior secured term loan with Heritage Cannabis Holdings Corp. (CSE:CANN), advancing a first tranche of $4.875 million with a further $1.825 million to be advanced under certain conditions;
As a syndicate member, entered into a senior secured term loan with Cresco Labs Inc. (CSE:CL), with Trichome Financial advancing US$2.0 million as part of a US$100 million total loan;
Advanced a $1.0 million senior secured term loan to Hello Cannabis, an established retail operator, with the potential to increase the loan by an additional $1.25 million; and
Increased loan principal advanced to $18.5 million with a weighted average interest rate of 14.6% plus $1.8 million in commitments.

Highlights subsequent to Q1 2020:

Expanded the Trichome Financial platform of financial solutions to the global cannabis sector through the launch of Trichome Special Opportunities ("TSO") to provide private equity solutions and Trichome Advisory Partners ("TAP") to assist operators, lenders and investors optimize their financial interests through advisory services;
Confirmed as the successful bidder for the assets of James E. Wagner Cultivation Corp. ("JWC"), whereby Trichome Financial will acquire the assets of JWC free of liabilities for approximately $13 million while retaining the operating team; and
Increased loan principal advanced to $23.1 million with a weighted average interest rate of 16.4%, with unfunded commitments of $3.3 million as of May 28, 2020.

Outlook

While challenging and unprecedented, the current environment in the cannabis sector is favourable for each of Trichome Financials' business segments. Trichome Financial's business model is unique in that it benefits from both the structural, long-term growth of the global cannabis industry as well as periods of market volatility when investor confidence wanes. Since the middle of 2019, a series of events have contributed to creating a negative feedback loop for investor confidence in the cannabis sector. More recently, the effects of COVID-19 and measures being taken to suppress it have exacerbated the operating and capital plans of many participants in the cannabis sector. The potential trends for Trichome Financial's business model include:

An increase in the number of companies in need of Trichome Financial's debt and equity solutions, including term debt, receivables financing, capital for recapitalizations, financial advice, and restructurings;
An increase in overall borrower quality as a result of being able to select from a larger pool of opportunities;
Improving risk-adjusted returns, with both increasing contractual returns as well as higher warrant or equity coverage at more attractive valuations; and
An ability to negotiate favourable structural enhancements on transactions that serve to protect Trichome Financial's capital.

Trichome Financial has raised gross proceeds of approximately $31.8 million to construct a portfolio of diligently underwritten and structured income generating credit investments. To date, Trichome Financial has closed fifteen credit transactions to ten unique counterparties, with six of those loans having been repaid.

As at March 31, 2020, the par value of loans outstanding was $18.5 million with unfunded commitments of $1.8 million. Subsequent to quarter-end, the par value of loans outstanding increased to approximately $23.1 million, with unfunded commitments of $3.3 million. As of May 28, 2020, Trichome Financial had approximately $6.2 million in cash and cash equivalents on hand. The weighted average effective interest rate of the portfolio is approximately 16.4%, excluding warrants, bonus shares, or royalties.

Financial results Q1 2020

In Q1 2020, interest revenue increased to $635,079, as compared to $57,262 for the period ended March 31, 2019. This is the result of the par value of total advances increasing to $18.5 million, from $4.8 million as of March 31, 2019.

Trichome Financial realized an adjusted loss per share of $(0.02), as compared to $(0.03) for the period ended March 31, 2019. The variance between periods in adjusted loss per share is attributable to increased interest revenue, a higher weighted average share count and increases to operating expenses related to hiring employees, leasing office space, insurance, and expenses incurred to perform due diligence on new loans. Adjusted loss is calculated by excluding certain non-cash and non-recurring items from net loss as calculated under IFRS.

Cash and cash equivalents totaled $11.7 million as of March 31, 2020, compared to $20.9 million on December 31, 2019.

Active loans as at March 31, 2020:

Market segment

Maturity date

Coupon Interest rate

Effective interest rate1

Loan principal

Committed

Fair value of warrants or equity held4

JWC – Initial loan

Premium cultivator

2/19/2021

9.3%

13.9%

$ 3,500,000

$ –

$ –

JWC – Tranche 1

Premium cultivator

11/6/2021

9.3%

13.3%

2,850,000

–

118,105

JWC – Tranche 2

Premium cultivator

11/6/2021

9.3%

13.8%

1,150,000

–

126,300

Good Buds

Premium cultivator

9/1/2020

11.5%

17.5%

2,350,000

–

95,128

Cresco

MSO – cultivation, distribution, retail

7/31/2021

12.7%

14.8%

2,785,594

3

–

–

Heritage

Extraction, medical, cultivation

1/31/2022

9.5%

14.6%

4,875,000

1,825,000

–

Hello

Retail (Ontario)

8/28/2021

10.5%

13.1%

1,000,000

–

–

Portfolio Weighted Average2 / Subtotal

10.2%

14.6%

18,510,594

1,825,000

339,533

Loans issued after March 31, 2020 and up to date of MD&A:

Maturity date

Coupon Interest rate

Effective interest rate1

Loan principal

Committed

Fair value of warrants or equity held5

JWC – DIP loan

Premium cultivator

6/30/2020

10.0%

23.4%

4,024,000

1,476,000

–

Good Buds 2

Premium cultivator

9/1/2020

11.5%

25.7%

550,000

–

30,040

Subtotal

4,574,000

#

1,476,000

30,040

Portfolio Weighted Average2 / Total

10.2%

16.4%

$ 23,084,594

$ 3,301,000

$ 369,573

Loans fully repaid during quarter:

Settlement date

Coupon Interest rate

IRR6

Loan amount

MOIC7

Fair value of warrants or equity held4

Pure Alpha

Retail (Ontario)

2/19/2020

0.0%

0.0%

50,000

–

–

Settled Weighted Average2 / Total

0.0%

0.0%

$ 50,000

–

$ –

(1) Annualized effective return excludes the impact of warrants, equity, royalty, or transaction costs.
(2) Weighted average based on loan amount.
(3) Cresco loan is denominated in USD. Foreign exchange rate on March 31, 2020 was used to calculate balance in Canadian dollars.
(4) As at March 31, 2020. Note: JWC ceased trading on TSXV on April 7, 2020 therefore value will have subsequently decreased.
(5) As at date of loan issuance.
(6) Internal Rate of Return on the loan
(7) Multiple on Invested Capital

 
March 31, 2020
 
 
March 31, 2019
 

Consolidated Statements of Net Loss

Interest revenue

 
$
635,079
 
 
$
57,262
 

Operating expenses

 
 
1,212,467
 
 
 
604,363
 

Operating loss

 
 
(577,388)
 
 
 
(547,101
)

Other expenses

 
 
227,558
 
 
 
372,453
 

Total net and comprehensive loss

 
 
(804,946)
 
 
 
(919,554
)

Net loss per common share – basic & diluted

 
 
(0.03)
 
 
 
(0.13
)

Adjusted loss

 
 
(518,510)
 
 
 
(178,681
)

Adjusted loss per share

 
$
(0.02)
 
 
$
(0.03
)

Weighted average common shares – basic & diluted

 
 
25,074,828
 
 
 
6,960,000
 

About Trichome Financial Corp.

Trichome Financial is a specialty finance company focused on providing creative capital solutions and advisory services to participants in the global legal cannabis market. Trichome Financial was created to address the lack of credit availability in the increasingly complex cannabis market and has since broadened its platform to offer private equity solutions and advisory services. Trichome Financial's experienced management team and founding partners have a unique edge to capitalize on proprietary deal flow and insight while developing an early-mover advantage as a global cannabis focused specialty finance company. With the depth and breadth of knowledge Trichome Financial has obtained, the Company is well positioned to weather the uncertainties brought-on by the everchanging North American cannabis industry.

For further information about Trichome Financial please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome Financial and 22 Capital dated May 29, 2019 which is available on the Company's SEDAR profile at www.sedar.com.

READER ADVISORY

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: the development of the global cannabis industry and trends in the cannabis capital markets, the future market opportunity for Trichome Financial, pro-forma estimates relating to the operations of JWC and other factors that may improve future profitability. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Trichome Financial assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Non-IFRS Financial Measures

The Company reports non-IFRS financial measures, including adjusted loss and adjusted loss per share, as key measures used by management to evaluate performance of the business, to compensate employees and to facilitate a comparison of quarterly and annual results of ongoing operations. While used to assist in evaluating the operating performance of the Company, readers are cautioned that adjusted loss as reported by the Company may not be comparable in all instances to adjusted loss as reported by other companies. For a detailed explanation of how the Company's non-IFRS measures are calculated, please refer to the Company's MD&A filing for the year ended December 31, 2019, which can be accessed via the SEDAR Web site (www.sedar.com).

Contact Information

Michael Ruscetta, CEO
Telephone: (416) 467-5229
Email: info@trichomefinancial.com

Marc Charbin, Investor Relations
Telephone: (416) 467-5229
Email: marc.charbin@loderockadvisors.com

SOURCE: Trichome Financial Corp

ReleaseID: 591922

VANCOUVER, BC / ACCESSWIRE / May 29, 2020 / Group Ten Metals Inc. (TSX.V: PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "Group Ten") is pleased to announce results of geological sampling and mapping programs, together with assay results completed on past drill core, from the Company's flagship Stillwater West platinum group element, nickel, copper, cobalt ("PGE-Ni-Cu-Co") project in Montana, USA.

This is the fifth in a series of planned news releases to report results of exploration programs that focused on the advancement of drill-defined mineralized zones at five multi-kilometer-scale priority target areas. Subsequent news releases will report results from ongoing modelling work and rhodium assays from drill and field samples prior to our 2020 field exploration programs.

Highlights include:

The Pine target shows very high-grade gold, palladium and platinum mineralization in drilling, soils and rock sampling that is now being further assessed by the Company.
Drilling at the Pine target returned values including 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters and 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters hosted within the chromite-rich ultramafic stratigraphy.
High-grade gold, palladium, and platinum values ranging to 16.18 g/t 3E (13.80 g/t Au, 1.10 g/t Pd, and 1.28 g/t Pt) were returned in rock samples taken by Group Ten in 2019 at the Pine target, with a total of 13 samples returning from 2 to 30 g/t platinum equivalent grade mineralization to date by the Company.
At the HGR target, nine kilometers east of the Pine target, high-grade gold, palladium, and platinum values ranging to 19.06 g/t 3E (14.30 g/t Au, 3.10 g/t Pd, and 1.66 g/t Pt) were returned in assays conducted by the US Geological Survey ("USGS") on select samples of historic drill core from the HGR target area at Iron Mountain that had not previously been assayed for precious metals.
Results have identified a "gold suite" of pathfinder elements that co-occur in high-grade samples.

Michael Rowley, President and CEO, commented, "Our systematic approach in consolidating and exploring the famously metal-rich yet underexplored Stillwater district continues to proffer exciting and unexpected revelations. Our collaboration with the US Geological Survey has revealed that core drilled in 1977 at the HGR target contains high-grade gold, palladium, and platinum that were not previously recognized, and that are comparable to grades seen at the Pine target on the western side of the district. In addition, we have identified geological similarities, including a suite of pathfinder elements that occur together in both locations, that provide a guide for targeting gold-rich mineralization across the 25-kilometer-wide property. These high-grade gold zones are now being recognized to be much more broadly distributed and to occur within some of the same horizons that host the bulk-tonnage "Platreef-style" deposits of palladium, platinum, gold, rhodium, nickel, copper, and cobalt in the lower Stillwater complex. We look forward to providing further news including additional exploration results, updates on modelling work at the most advanced target areas, ahead of field exploration in 2020."

Gold Suite Program and Results

A total of 40 samples were assayed from the HGR and Pine targets, which are two of the five most advanced target areas at Stillwater West (see Figure 1). Samples from the Pine target consisted of rock chip samples gathered by Group Ten in 2019, while the HGR samples consisted of select intervals of chromite-sulphide bearing bronzite cumulate core retained by the USGS from hole 355-71, originally drilled by AMAX in 1977 but only partially assayed at that time. Results from HGR core assays by the USGS demonstrate high-grade gold values in addition to platinum, palladium, nickel, arsenic, bismuth, and antimony (see Table 1).

The HGR target was tested by Group Ten in 2019 with three drill holes, with hole IM2019-2 testing the area near historical AMAX hole 355-71 (see December 18, 2019 news release). Sulphide-bearing bronzite cumulate intercepted in IM2019-2 over a 14-meter interval from 114 to 128 meters depth, broadly corresponding to the 355-71 interval tested by the USGS, returned highly anomalous concentrations of the same distinct metal suite seen in 355-71, including gold, platinum, palladium, arsenic and bismuth.

TABLE 1 – High-Au samples from AMAX drill hole 355-71, HGR Target (Bow et al., 2020)1

The Pine target, situated approximately nine kilometers to the west of Iron Mountain, has been recognized as an occurrence of high-grade gold-PGE mineralization associated with sheared, chromite-bearing ultramafic rocks. It is one of five advanced target areas where the Company sees the potential to quickly establish preliminary mineral resource estimates, with seven drill holes from 1983 and 2004 that define a precious metals-rich mineralized zone that is 150 meters strike with an average width of 15 meters that has been tested to a depth of 90 meters (see Table 2 and Figure 7 below, and news releases from June 4, 2019, January 25, 2019, and May 13, 2020).

TABLE 2 – Pine Target Drill Results

Rock chip samples taken from rubble crop near historical drill holes has confirmed the presence of high-grade gold values. As shown in Table 3, assay results returned elevated values of arsenic and bismuth, suggesting a geochemical affinity with the HGR drill holes and confirming the presence of unusual concentrations of arsenic and bismuth associated with gold-rich samples from widely spaced targets within the Stillwater West property.

TABLE 3 – High-Grade Gold Results from 2019 Rock Samples, Pine Target

Dr. Craig Bow, Chief Geologist, commented, "This additional geochemical data for gold-rich samples gives us a clearer sense of the distinctive geochemistry of these rocks. In addition to arsenic and bismuth, we also see elevated values of antimony and tellurium, which are extremely unusual in bulk rock assays from elsewhere in the Stillwater Igneous Complex. The fact that we now have two examples from widely spaced locations in the Peridotite Zone suggests that a bona fide, previously unrecognized gold-enriched style of mineralization can occur along with bulk tonnage PGE-Ni-Cu-Co targets."

As announced May 13, 2020 and summarized in Figures 2, 3, and 4, work in 2019 significantly expanded the area of highly anomalous gold, palladium, and platinum in soils and advanced the developing block model by re-logging and re-assaying drill core from 2004.

Mineralization at the Pine and HGR targets remains open to expansion in all directions.

FIGURE 1 – Main Target Areas Including Location of the Pine and HGR Targets Across the 25-Kilometer Width of the Stillwater West Project

About Stillwater West

The Stillwater West PGE-Ni-Cu project positions Group Ten as the second-largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater's Stillwater, East Boulder, and Blitz platinum group elements ("PGE") mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. At the same time, the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-Ni-Cu deposits, similar to Platreef in the Bushveld Complex2. Group Ten's Stillwater West property covers the lower part of the Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company's core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana, USA2. Group Ten also holds the high-grade Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry's highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon's high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon's Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry's leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

Note 1: Bow, C.S., Ostenson, M., Modroo, J.J. and Andersen, A., 2020. Precious and Base Metal Mineralization Within the Lower Stratigraphy of the Stillwater Complex: New Targets Defined and Old Targets Revisited. Geological Society of Nevada Symposium Proceedings, in prep.

Note 2: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company's projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2019 field samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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.

SOURCE: Group Ten Metals Inc.

ReleaseID: 591816

LIVINGSTON, NJ / ACCESSWIRE / May 29, 2020 / Milestone Scientific Inc. (NYSE American:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced an interview with its interim-CEO, Leonard Osser, will air on The RedChip Money Report television program. The interview will air Sunday, May 31, at 3 p.m. local time on Bloomberg International, available in 100+ million homes across Europe.

In the exclusive interview, Osser discusses the company's innovative technology, sales strategy, and product development efforts.

To view the interview segment, please visit: https://youtu.be/PQEOQT27qFU

The interview will also air in the US on the Action Channel on Sunday May 31 at 11 a.m. and on the Family Channel on June 3 at 6 p.m. and is available via live stream on American Business TV.

"The RedChip Money Report" delivers insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies.

About Milestone Scientific Inc.

Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs, develops and commercializes innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone's proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.milestonescientific.com.

CONTACTS

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498

SOURCE: Milestone Scientific, Inc.

ReleaseID: 591865

Former Leading MSO Executive and Philanthropist Strengthens KushCo's Commitment to New Strategy of Aligning Deeper with Core Customers

CYPRESS, CA / ACCESSWIRE / May 29, 2020 / KushCo Holdings, Inc. (OTCQX:KSHB) (''KushCo'' or the ''Company''), the premier provider of ancillary products and services to the legal cannabis and CBD industries, has announced today the appointment of Pete Kadens, former CEO of Green Thumb Industries (GTII) (GTBIF) a leading national cannabis consumer packaged goods company and retailer-to the Company's board of directors (the "Board"), effective June 1, 2020.

Kadens served on KushCo's advisory board since August 2019, and will now play a more active role in guiding the Company's strategic vision and direction, especially in strengthening its relationships with premier multi-state operators (MSOs), licensed producers (LPs), and leading brands (the Company's "Core customers") while positioning the Company to achieve near-term positive adjusted EBITDA and long-term profitable growth. Having run one of the most successful MSOs to date, Kadens will leverage his cannabis industry experience and relationships to help drive the execution of the Company's go-forward strategy.

Kadens is a serial entrepreneur and dedicated philanthropist who currently serves as the chairman of The Kadens Family Foundation, a charitable organization dedicated to closing the pervasive wealth and education gaps in the U.S. Kadens retired in August 2018 as CEO of Green Thumb Industries, one of the largest publicly-traded cannabis operators in the U.S. with a current market capitalization of over $2 billion. Prior to joining Green Thumb Industries in 2016, Kadens started SoCore Energy in 2008, one of the largest commercial solar companies in the U.S., with clients including Walgreens, IKEA, JC Penney, Kimco, and Simon Properties. Under his leadership, SoCore expanded operations into 17 states and was named one of Chicago's most innovative businesses by Chicago Innovation Awards. In 2013, Kadens sold SoCore Energy to Edison International, a Fortune 500 energy holding company. Kadens employed over 4,000 people over his 16 year career as a CEO.

Kadens currently serves as the Chairman of Crazy Clean, a high tech disinfecting business he founded as well as the Chairman of Kadens Family Holdings and Katalyst Management Collective. He also serves on the board of directors of NewLake Capital Partners and IgniteADR, and previously served on the board of directors of Green Thumb Industries and Marijuana Policy Project, one of the leading nonprofit organizations advancing the cause of ending the War on Drugs by orchestrating legislative and ballot initiatives to legalize cannabis. In addition, Kadens is one of 25 current and previous cannabis industry executives currently serving on the board of directors of the Cannabis Trade Federation, an organization focused exclusively on federal cannabis policy reform.

"On behalf of everyone at the Company, I could not be more excited to welcome Pete to our board of directors, especially at this pivotal time in our organization, where we have made significant strides in aligning deeper with our Core customers, have substantially cut costs, and are moving closer to our near-term goal of achieving positive adjusted EBITDA," said Nick Kovacevich, KushCo's Co-founder, Chairman and Chief Executive Officer. "We recognized Pete's unparalleled talent, experience, and passion for the industry early on, which led to our decision to appoint him to our advisory board in September 2019. However, given how quickly and drastically the industry landscape has changed since then-and just as importantly, how we expect it to change going forward-we recognized that Pete could provide a much greater value as an actual Board member, especially as we look to strengthen our relationships with many of the premier MSOs, LPs, and leading brands who look more poised than ever to dominate this dynamic and consolidating industry. Having a true industry pioneer and successful MSO executive like Pete in our corner gives us an edge when learning more about what our customers want and how we can align our business with their future growth plans. Overall, I look forward to having Pete join what is already a diverse and talented team of directors, as we look to become the provider of choice for ancillary products and services for the legal cannabis and CBD industries."

Kadens added: "I have always admired KushCo's unique position in the legal cannabis and CBD ecosystem, even well before my appointment to the Company's advisory board. KushCo's established track record, entrepreneurial leaders, and best-in-class service have always set the industry standards for how a successful ancillary company should operate and grow with their customers. In addition, the Company's philanthropic initiatives, such as their recent donation of nitrile gloves to COVID-19-impacted medical professionals lacking personal protective equipment, strongly complement my deep passion and activities for leaving a positive impact in the world, and provides a solid foundation for creating a company culture that benefits both the business' direct stakeholders and the communities surrounding it. And now that the Company has prudently shifted its focus toward the premier operators with the near-term goal of getting to profitability, I'm excited to roll up my sleeves and play a more active role in helping shape the Company's strategic direction as it looks to capitalize on what appears to be an impending industry shakeout separating the winners from the losers."

To be added to the distribution list, please email ir@kushco.com with "Kush" in the subject line.

About KushCo Holdings

KushCo Holdings, Inc. (OTCQX: KSHB) (www.kushco.com) is the premier provider of ancillary products and services to the legal cannabis and CBD industries. KushCo Holdings' subsidiaries and brands provide product quality, exceptional customer service, compliance knowledge and a local presence in serving its diverse customer base.

Founded in 2010, KushCo Holdings has now sold more than 1 billion units to growers, processors and producers across North America, South America, and Europe.

The Company has been featured in media nationwide, including CNBC, Fox News, Yahoo Finance, Cheddar, Los Angeles Times, TheStreet.com, and Entrepreneur, Inc Magazine. While KushCo Holdings provides products and solutions to customers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC.

For more information, visit www.kushco.com or call (888) 920-5874.

Forward-Looking Statements

This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company's current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially, including statements regarding the Company's strategic vision and direction and its expectations regarding Mr. Kadens to contribute to achieving this strategic vision. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company's management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: "potential," "look forward," "expect," "anticipate," "project," "should," "believe," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in the Company's filings with the United States Securities and Exchange Commission (SEC), which are available at: www.sec.gov, and on the Company's website, at: www.kushco.com.

KushCo Holdings Contact

Investor Contact:

Najim Mostamand, CFA
Director of Investor Relations
714-539-7653
ir@kushco.com

SOURCE: KushCo Holdings, Inc.

ReleaseID: 591924

VANCOUVER, BC / ACCESSWIRE / May 29, 2020 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FRA:PKLB) ("Perk Labs" or the "Company") the parent company of Perk Hero, the all-in-one mobile ordering, contact-free payments and loyalty app, announced today that Perk Hero has added two new features including a convenient delivery option and an innovative, in-app "refer-a-friend" program that rewards referrals and fuels business growth.

"We believe our refer-a-friend feature is a valuable addition to Perk Hero, given the amount of purchases that are now made on mobile," said Perk Hero's CEO Jonathan Hoyles. "It's a clear and simple proposition that benefits everyone involved, consumers and retailers alike. When users refer a friend, they'll receive rewards each time their friend makes a purchase. This provides an incentive for users and "super connectors" such as social media influencers to use referral links when recommending a particular business."

The worldwide pandemic has led to a marked increase in ‘retail to go' – consumers using apps to place and pay for an order for delivery or pickup. As a result, retailers are rapidly adapting to the changing retail landscape, boosting their mobile marketing, introducing contactless payments and rolling out QR codes to attract more consumers and increase retail volume. SMBs, in particular, are looking for turnkey solutions that don't involve additional hardware or expensive payment acceptance technologies.

Perk Hero is ideally positioned to provide SMBs with an affordable alternative to a variety of high commission delivery platforms. It aims to change the current landscape by giving restaurants and other retailers the ability to offer their own area delivery, while providing loyalty rewards and ongoing engagement opportunities to customers for their patronage.

"As a busy meal preparation service, our business relies heavily on pick up, takeout and delivery orders," said Nick Haddad of Farmer'sMeal.ca. "We're very happy to hear that Perk Hero has added this feature."

Raj Khaira-Bassi, owner of Spicy 6 restaurant added, "Considering our location and the density of the Vancouver core, offering delivery is just one of the ways we provide value to our customers. So glad to hear we can also offer this service using Perk Hero."

Retail experts predict that market demand for contactless delivery will continue to grow long after the pandemic ends. It's clear, they say, that consumers enjoy the convenience of having their groceries and other packages dropped off at their doorstep without direct in-person interaction, and the pandemic has accelerated that demand. Andrew Lipsman, author of Frictionless Commerce 2020, believes this trend is unlikely to abate.

"Perk Hero is well suited for this type of frictionless buying and contactless delivery," said Hoyles. "We're excited to add additional features for our customers when the time is right to enhance the virtual experience for diners and shoppers. Our frictionless platform compliments this whole new class of mobile and online transactions and lays the foundation for us to enable merchants to use our app for dropship delivery. It opens a world of potential for Perk Hero and its users and we're ready to take advantage of new market trends as they arise."

More information about Perk Hero's offering can be found at www.perkhero.com and stakeholders can read about the Company's strategy and ongoing advancements in technology on the company blog, which can be viewed at https://medium.com/@perk_labs.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with digital rewards and a more engaging and convenient customer experience. For more information about Perk Labs, please visit www.perklabs.io

For more information, contact:

Jonathan Hoyles CEO
(833) 338-0299 investors@perklabs.io

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, the use of refer-a-friend will lead to an increase in the number of Perk Hero users, that there will be demand for Perk Hero's new delivery feature, and that Perk Hero will be able to enable merchants to use dropship delivery and take advantage of new market trends. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.

ReleaseID: 591923

SAN FRANCISCO, CA / ACCESSWIRE / May 29, 2020 / Hagens Berman urges investors in GSX Techedu Inc. (NYSE:GSX) to submit their losses now. The June 16, 2020 lead plaintiff deadline in a securities fraud class action against GSX is fast approaching.

Class Period: June 6, 2019 – Apr. 13, 2020
Lead Plaintiff Deadline: June 16, 2020
Sign Up: www.hbsslaw.com/investor-fraud/GSX
Contact An Attorney Now: GSX@hbsslaw.com
844-916-0895

GSX Techedu (GSX) Securities Class Action:

The Complaint alleges Defendants misreported GSX's financials, student enrollment figures, and teacher qualifications.

Investors began to learn the truth on Feb. 25, 2020, when Grizzly Research published a scathing report, accusing GSX of "drastically overstating its profitability in its US public filings, especially for 2018." Grizzly claimed that GSX had generated "fake student enrollments to boost student count," and "fabricated teachers profiles."

On Apr. 14, 2020, Citron Research similarly charged GSX with fabricating revenues by 70% and overstating net profits by 75%.

Then, on May 7, 2020, Citron published another report, citing "definitive evidence" of GSX "committing securities fraud." Citron avers that GSX understated customer acquisition costs by moving expenses off its books to shell companies.

On May 18, 2020, Muddy Waters joined in, concluding GSX "is a near-total fraud," given that 70-80% of its users are fake.

On May 28, 2020, Muddy Waters cited additional evidence of GSX fabricating its user numbers, including an account from a former GSX manager.

"We're focused on investors' losses and proving GSX deceived investors," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you purchased shares of GSX and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding GSX should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email GSX@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 591918