EMERGE Brand WholesalePet, Records Strongest Day of the Year, with US$598,000 in Gross Merchandise Sales(1)

TORONTO, Oct. 19, 2022 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified acquirer and operator of niche e-commerce brands, today announced that its portfolio brand, WholesalePet ("WSP") (www.WholesalePet.com), a U.S. based B2B e-commerce marketplace for pet products, achieved its largest Gross Merchandise Sales ("GMS")¹ day of the year during its annual Cyber-Stock Monday® promotional event, on October 17, 2022.

In total, WSP recorded approximately US$598,000 GMS¹, a moderate percentage increase vs. the same-day promotion in 2021. Average Order Value ("AOV") of US$420 significantly exceeded typical AOV of approximately US$350.

Ghassan Halazon, Founder and CEO of EMERGE said, "We continue to be impressed with WholesalePet's progress in scaling a thriving marketplace community of independent retailers and vendors, with strong underlying profitability and cash flow generation. This year's Cyber-Stock Monday® results represent WSP's single largest GMS¹ day of the year, exceeding last year's result slightly, a notable feat in this challenging macro backdrop. We view this result as a terrific unofficial launch for the Q4 holiday shopping season."

Chris Avery, CEO of WSP commented, "With over 200 vendor specials up to 50% off, on annual Cyber-Stock Monday®, pet businesses across the U.S., and internationally, are rewarded by buying the highest quality, independent-supportive brands during this exclusive event. This year, thousands of full-line stores, boutiques, clinics, boarders, and groomers used WholesalePet.com to stock up for Black Friday and Small Business Saturday, leading to our largest sales volume day of 2022. WholesalePet.com is solely dedicated to the pet industry and we are well acquainted with brands and deals that make a difference for local pet businesses and for their pet-owning customers, positioning us well for continued growth."

WSP is EMERGE's largest brand by GMS¹.

EMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses various online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.co, WagJag.com, BeRightBack.ca, and Wanlow.com. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2022 Canada's Top Growing Companies.

To learn more visit https://www.emerge-commerce.com/

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

This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, 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 a further understanding of results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales ("GMS") should not be construed as alternatives to revenue determined in accordance with IFRS. GMS does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.

GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).  Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's MD&A and Annual Information Form which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director, CEO and President

SOURCE EMERGE Commerce Ltd.