Le Lézard
Classified in: Health, Business
Subjects: ERN, MAT

Mojave Jane Brands Reports Q4 and Year End 2019 Results


/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

CSE: JANE 
OTC: HHPHF
FSE: 0HCN

Company continues to execute on manufacturing, brands and distribution strategy in California

TORONTO, Dec. 31, 2019 /CNW/ - Mojave Jane (CSE: JANE) (OTC: HHPHF) (FSE: OHCN), a California cannabis company, today announced that it has filed its consolidated audited financial statements for the quarter and fiscal year ended August 31, 2019. The consolidated financial statements and management discussion and analysis are available on SEDAR at www.sedar.com

Mojave Jane Brands Inc. (CNW Group/Mojave Jane Brands Inc.)

Operational Highlights

Subsequent to the quarter under review, the Company executed on a number of initiatives that significantly reduce operational expenses, while focusing the business of the Company on the following three strategic pillars:

Other quarterly and subsequent highlights

Mojave Jane's CEO Gary Latham commented:

"In the past few quarters, we have successfully refocused the strategic direction of Mojave. Much of the overhang from previous transactions and discontinued operations has now been cleaned up, which will result in a significant reduction of OpEx going forward. In 2020, our energy and capital deployment will be focused on operating our well differentiated assets to generate revenue and growth. Once completed, the Adelanto transaction sets us up for manufacturing of our own products, as well as enables us to engage in white label production for third parties. At the same time, our investment in SpeedWeed provides us with direct to consumer distribution capabilities. This is a key asset in California, where this model enables us and SpeedWeed's brand partners to compete more effectively with the illicit market. Following a challenging year for us and the industry in general, we are now well positioned to capitalize on the opportunities in the world's largest legal cannabis market and generate shareholder value, and I look forward to reporting on our achievements as we execute on our strategy."

About Mojave Jane Brands

Mojave Jane Brands Inc. is a Canadian-based cannabis company emerging as a true vertical integrator in California's legal cannabis space, serving both the recreational and wellness markets. The Company's U.S. holdings are focused on processing and manufacturing, branding, marketing and distribution. Through ownership of high-end brands such as Caligold, partnerships with innovators such as HAI Beverages, and investments in leading distributor SpeedWeed, the Company is well positioned to capitalize on the rapidly growing legal opportunity in the world's largest cannabis market.

Social Media

Facebook: facebook.com/mojavejane
Twitter: twitter.com/mojavejane
LinkedIn: linkedin.com/mojavejane
CALIGOLD Instagram: https://www.instagram.com/caligoldofficial

Stock Exchanges

Mojave Jane trades in Canada, ticker symbol JANE on the CSE, and in Europe, ticker symbol OHCN on the FSE. Neither the CSE, nor the FSE has approved nor disapproved the contents of this press release. Neither the CSE, nor the FSE accepts responsibility for the adequacy or accuracy of this release.

Marijuana Industry Involvement

Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate. Marijuana is legal in certain states however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Mojave Jane's ability to access private and public capital could be affected and or could not be available to support continuing operations.

On behalf of the Board of Directors

Mojave Jane Brands Inc.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the intention of the parties to complete the Acquisition and certain ancillary transactions contemplated thereby. These transactions are subject to a number of material risks, and there is no assurance that they will be completed on the terms or within the timeframes currently contemplated, or at all. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

All monetary references herein refer to Canadian dollars unless otherwise specified.

SOURCE Mojave Jane Brands Inc.


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