SLIDE 1
INVESTOR PRESENTATION
M AY 2 0 2 0 | T S X V : M E TA
FORWARD LOOKING INFORMATION
Certain statements and information set forth in this Presentation constitute "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward-looking statements") in respect to the Corporation. By their nature, forward looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward looking statements. In addition, the forward looking statements require the Corporation to make assumptions and are subject to inherent risks and uncertainties. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. There is significant risk that the forward looking statements will not prove to be accurate, that the Corporation’s assumptions may not be correct and that actual results may differ materially from such forward looking statements. Accordingly, readers should not place undue reliance on the forward looking statements. Forward-looking statements contained in this Presentation include, but are not limited to, future developments, including statements with respect to the acquisition of additional locations throughout Canada, the opening of additional locations throughout Canada, the estimated buildout production costs and gross margins for dispensaries, the success of the Corporation’s pharmacy operations, the approval of pending license applications, future financial performance including the sufficiency of cash on hand, the ability of the Corporation to generate positive cash flow and the ability of the Corporation to meet its obligations as they become due, the successful execution of the Corporation’s business strategies, goals, objectives or prospects including its business model, M&A strategy and mission and the exploration of other business opportunities in the cannabis industry, the use and benefits of the Corporation’s products and services, the Corporation’s favourable position in the market on a go-forward basis, demographic and market size/trends, forecasts of revenue and financial projections/growth potential/opportunities, competitive analysis, proposed synergies, projected milestones and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance, expected regulatory filings, review and approval dates, go forward management of the Corporation, start-up timelines and schedules, statements related to the continued overall advancement of the Corporation’s business and the Corporation’s plan to become a model for legalized safe distribution of cannabis and cannabis products throughout Canada, expected operations and possible future action on the Corporation’s part. Generally, these forward-looking statements can be identified by the use of forward- looking terminology such as “plans “, “expects” or “does not expect”, “is expected”, “proposed” “budget”, “scheduled”, “estimates “, “forecasts “, “intends “, “anticipates” or “does not anticipate”, or “believes; or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different 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 conditions; the accuracy of cost estimates; ability to obtain sufficient capital on satisfactory terms; changes in customer demand; the successful and timely implementation of projects; continuance of the go forward management team’s position with the Corporation; the impact of changes in applicable laws and regulations at the Federal, Provincial and Municipal levels; the results of continued development, marketing and sales; the risk that retail locations may not be opened or acquired; and the risk that pending licenses will not be granted approval. Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 forward looking statements. The Corporation’s forward-looking statements are made only as of the date of this Presentation or the dates specifically referenced in this Presentation and the Corporation does not undertake to update or revise any forward-looking statements to reflect new information or future events or circumstances, unless specifically required by applicable securities legislation. All forward looking statements contained in this presentation are expressly qualified by this cautionary statement. This Presentation contains future oriented financial information (“FOFI”) within the meaning of applicable securities laws about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action and that is not presented in the format of a historical balance sheet, income statement or cash flow statement. The FOFI has been prepared by the Corporation’s management to provide an outlook of the Corporation’s activities and results. The FOFI has been prepared based on a number of assumptions including the assumptions discussed above and assumptions with respect to the costs and expenditures to be incurred by the Corporation, capital expenditures and operating costs, taxation rates for the Corporation and general and administrative expenses. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Corporation and the resulting financial results will likely vary from the amounts set forth in the analysis presented in this Presentation, and such variation may be material. The Corporation and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. However, because this information is highly subjective and subject to numerous risks including the risks discussed above, it should not be relied on as necessarily indicative of future results. Except as otherwise required by applicable securities laws, the Corporation undertakes no obligation to update such FOFI and forward-looking statements and information. The Presentation Materials reference to certain non-IFRS measures including “EBITDA” and to certain operating metrics in the industry. Non-IFRS measures including industry metrics do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS.
2