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Kiaro Acquires Hemisphere Cannabis and Adds 7 Retail and 2 Development Locations in Ontario To Become a Prominent National Cannabis Retailer with Forecasted Annual Revenues of $42.7 Million

Kiaro Acquires Hemisphere Cannabis and Adds 7 Retail and 2 Development Locations in Ontario To Become a Prominent National Cannabis Retailer with Forecasted Annual Revenues of $42.7 Million
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Kiaro enters Ontario, US and Australia through Strategic Acquisition of Cozy Cannabis

Kiaro enters Ontario, US and Australia through Strategic Acquisition of Cozy Cannabis
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VANCOUVER, BC, May 31, 2021
/CNW/ - Kiaro Holdings Corp. (TSXV: KO) ( Kiaro or the Company ), an omni channel cannabis retailer and wholesale distributor, is pleased to announce that the Company has entered into a definitive agreement to acquire all issued and outstanding shares of Sculthorp SEO Inc. ( Cozy Cannabis ), which currently operates a highly desirable retail location in Toronto and three eCommerce business platforms (the Transaction ). Completion of the Transaction will launch Kiaro into the Ontario retail cannabis market, and provide access to a new digital portfolio focused on the supply of high quality consumption accessories to Canadian, American and Australian consumers. ....

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Kiaro to Participate in Canaccord Genuity's 5th Annual Virtual Cannabis Conference

Kiaro to Participate in Canaccord Genuity's 5th Annual Virtual Cannabis Conference
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Kiaro Reports 230% Increase in Revenue in Fiscal Year 2021

Kiaro Reports 230% Increase in Revenue in Fiscal Year 2021
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Record revenues of $17.1 million for fiscal year 2021, an increase of 230%, compared to $5.2 million the year prior
Same store sales increase of 58% year over year
Gross margin of 38.1% for the retail operations during fiscal year 2021 compared to 35% the prior year
General and administrative expense for fiscal year 2021 substantially decreased to 12% of revenue compared to 61% in the prior year
Total HQ salaries decreased to 10% of revenue compared to 46% in the prior year
Convertible debt and accrued interest of $6.5M converted to equity and settlement of $1.75M in promissory notes in fiscal year 2021, leaving only $895K in total principal debt remaining ....

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