Eden Empire Inc. Provides Operations Corporate Update

| Source: Eden Empire Inc Eden Empire Inc

Mr. Gerry Trapasso Reports:

VANCOUVER, British Columbia, May 05, 2022 (GLOBE NEWSWIRE) -- Eden Empire Inc. (CSE: EDEN) (the “Company” or “Eden Empire” or “EDEN”) is pleased to announce an investor and operations corporate update.

A new season has arrived and with the significant decrease in COVID-19 restrictions and health measures, EDEN looks to return to a normalcy in Canada and the United States. It has been a slow and dampening winter for the cannabis industry. Fortunately for EDEN and its first-to-market expansion program within the Unites States and continuing emerging marketplace within Canada we are pleased to announce that business is blooming.

Key Highlights:

1.   Re: January 27th 2022 -EDEN EMPIRE ANNOUNCES PARTNER TO LEAD CHARGE IN MICHIGAN FRANCHISE EXPANSION

  1. Eden Empire Inc. has signed an agreement with an arm's-length third party to assist in expanding the Eden franchise across the state of Michigan. The partner has been involved with the construction of numerous marijuana grow, processing and dispensary facilities in the state and boasts an expansive network of contacts in the industry.

2.   Re: February 15th 2022 -EDEN EMPIRE ANNOUNCES SIGNING OF LOI WITH HIGHLANDS GROW FOR DISPENSARY SUPPLY IN MICHIGAN

  1. Eden Empire Inc. has signed a letter of intent (LOI) with Highland Grow to provide cannabis products for the company's franchise and corporate locations in the state of Michigan.
  2. Gives the company access to premium quality products grown locally in the state;
  3. The supplier boasts more than 10 strains grown at its state-of-the-art facility, including: Super Lemon Haze, White Widow, Starkiller and Pineapple Express No. 2

3.   Re: February 22nd2022 -EDEN EMPIRE ANNOUNCES SIGNING OF LOI WITH FIRST FRANCHISEE FOR DISPENSARY IN MICHIGAN

  1. Eden Empire Inc. has signed a Letter of Intent (the “LOI”) with Indigo Concentrates, LLC (the “Franchisee”) which is intended to bring the first EDEN franchised dispensary to the State of Michigan
  2. the Franchisee was a premier player in the medical marihuana caregiver program in the State of Michigan.
  3. State of Michigan saw 43% growth in cannabis sales year-over-year from 2020 to 2021.
  4. 2021 cannabis sales in Michigan topped $1.79 billion (U.S.).
  5. 2020 cannabis sales in Michigan reached $984 million (U.S.).
  6. Franchisee opportunity brings massive branding exposure to the Eden brand in a growing market.

Locations for EDEN’s Expansion Franchise Model

  1. Michigan - 2021 cannabis sales in Michigan topped $1.79 billion (U.S.).
  2. California - 2021 cannabis sales in California topped $5.2 billion (U.S.)
  3. Arizona - 2021 cannabis sales in Arizona topped $1.4 billion (U.S.)
  4. Nevada - 2021 cannabis sales in Nevada topped $1.0 billion (U.S.)
  5. New York – 2022 projections set to top $7.0 billion (U.S.)
  6. Massachusetts – 2021 cannabis sales in Massachusetts topped $1.3 billion (U.S)

“When your competition is large and well armored you must be quick and mobile. The franchise licensing model will allow EDEN to grow a competitive distribution footprint rapidly in both Canada and mainly geared towards the United States as federal legalization looms. EDEN’s scaling model is to be a large scale cannabis company who will attract the likes of larger production companies looking for a large distribution channel,” Stated President Kolt Taekema.

For further information or should you have any questions, please feel free to contact us at investors@edenempire.com or 778-903-7325.

This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.

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

About EDEN Empire

EDEN Empire is in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales. EDEN Empire intends to expand its retail operations in Canada and to expand its business to cannabis cultivation, extraction and processing‎ and become a fully integrated cannabis product company in the United States. EDEN Empire intends to expand its franchised locations in the State of Michigan.

EDEN Empire has an award winning and established nationwide brand, including a substantial intellectual property portfolio, and a dedicated management team with extensive cannabis industry experience. Upon completion of EDEN Empire’s currently intended acquisitions, and approval to operate its retail locations, the Company is expected to have a significant retail cannabis footprint in Canada and Michigan. Retail cannabis operations are an emerging sector with significant cash flow potential.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to,  the Company’s advancement with the Franchisee, the Company’s future operations of retail cannabis stores in the United States and Canada; the Company expanding its business to cannabis cultivation, extraction and processing and becoming a fully integrated cannabis company in the United States; the completion of the Company’s currently intended acquisitions; the receipt of all necessary licenses and approvals to operate the Company’s retail locations; and the proposed future transactions Eden may undertake and their expected timing.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Eden Empire to control or predict, that may cause Eden Empire’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: Eden Empire may not obtain the requisite regulatory approvals and may not begin operating cannabis retail or cultivation and processing operations; that the actual use of proceeds may differ from those currently stated; the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; currency fluctuations; regulatory restrictions and the possibility for changes in laws, rules, and regulations in the industry; liability, competition, loss of key employees and other related risks and uncertainties. Eden Empire does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.