CALGARY, Alberta, March 18, 2019 (GLOBE NEWSWIRE) -- Solo Growth Corp.™ (the “Company” or “Solo Growth”) (TSXV: SOLO) is pleased to announce that Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) inspections have been completed on two additional fully-constructed stores in Stony Plain and Spruce Grove, Alberta. The Company now has five built and inspected stores ready to open immediately upon granting of a license, which remains at the discretion of AGLC subject to the prevailing supply constraints in Canada. 

An additional two stores located in Calgary and Edmonton are nearing completion and will be ready for inspection in the coming weeks.  Since the announcement of the temporary AGLC licensing suspension, the Company has slowed construction and will continue to execute on the organic component of its growth strategy which is focused on carefully managing financial commitments, high grading locations, prioritizing construction resources and pursuing cost optimization.  The Company’s recently announced pivot to incorporate strategic opportunities within the cannabis sector will complement this organic strategy with the ultimate goal of further driving shareholder value. 

Additional Information

For additional information regarding Solo Growth please see the corporate website at www.sologrowth.ca and filings available under the Company’s profile on SEDAR at www.sedar.com.

About Solo Growth Corp.^TM

Operating as YSS^TM, the Company is a cannabis retailer with the vision to become a premier retailer and the trusted destination for cannabis in Canada.  Since its launch in June of 2018, the Company has built a strategic portfolio of locations while managing financial commitments and has completed construction and AGLC inspections on five Alberta stores, with two more in the province nearing completion. An additional 16 AGLC applications are being reviewed for construction priority within the current regulatory environment.  YSS management brings excellence across capital markets, financial management and a strong commitment to deliver shareholder value by leveraging high-quality opportunities within this exciting new industry.  The YSS retail experience is built on our five fundamental pillars: convenience, value, selection, team, and above all else, trust.

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Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: Solo Growth’s retail cannabis business strategy, including organic growth and strategic activities; the ability to build, own and operate retail cannabis stores; the receipt of necessary permits and licenses to open stores; the ability to capitalize on potential opportunities that may arise and the ability to exercise thereon; and enhancing value for shareholders. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company. Forward-looking statements are subject to a wide range of risks and uncertainties and, although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals not being obtained in the manner or timing anticipated, including AGLC inspections and licenses; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the recreational cannabis market; the availability of cannabis-retail products from licensed producers; government regulations, including future legislative and regulatory developments involving recreational cannabis; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the financial year ended January 31, 2018 and management’s discussion and analysis (“MD&A”) for the three and nine months ended October 31, 2018 for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.

Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.