SANTA ANA, Calif., Dec. 08, 2021 (GLOBE NEWSWIRE) — Unrivaled Brands, Inc. (OTCQX: UNRV) (“Unrivaled” or the “Company”) announced today the grand opening of the Company’s downtown Los Angeles People’s dispensary (“People’s DTLA”) is set for December 18th, 2021. The downtown location is the Company’s second People’s-affiliated and fifth overall dispensary in California.
Joining People’s OC, a leading dispensary in the Orange County, People’s DTLA is in a preeminent location that provides an unrivaled experience, offering a wide selection of the Company’s leading cannabis brands in an immersive and modern retail experience. Situated in the core of the Los Angeles region, and one of the few dispensaries in downtown Los Angeles with dedicated parking, residents and tourists of the region will experience the same renowned hospitality and extensive offering as the premier People’s OC location.
The opening of People’s DTLA expands the Company’s retail footprint and notwithstanding the revenue increase resulting from its opening, it is also expected to increase the Company’s margins and cash flow. This location is expected to be a strong performer, based off the success and proven methodology upon which the People’s OC was built. Further, a People’s Riverside location is expected to be operational in Q1 2022, and licenses are pending for two additional southern California locations.
Unrivaled Brands Vice President of Business Development Cassandra Ochoa stated, “We are pleased to announce the grand opening of People’s DTLA ahead of schedule. Getting DTLA opened ahead of schedule is a testament to the expertise and coherence of the Unrivaled Team, as we work towards a common goal of curating comfortable and inviting experiences for consumers. As one of the most visited dispensaries in California, People’s has become a trusted staple in the Orange County Community, and we are pleased to provide that same unique hospitality and modern experience in downtown Los Angeles.”
Unrivaled invites the Los Angeles community to join the grand opening celebration on December 18th from 10am to 10pm PST at the dispensary located at 1149 S. Los Angeles St., Los Angeles, CA 90015. Festivities will include live art and food from local artists, brands and food and beverage vendors.
About Unrivaled Brands
Unrivaled Brands is a multi-state vertically integrated company focused on the cannabis sector with operations in California and Oregon. In California, Unrivaled Brands operates five dispensaries, a state-wide distribution network, and two cultivation facilities, and has one additional cultivation facilities and four dispensaries under development. In Oregon, we operate a state-wide distribution network. Among other brands, Unrivaled Brands is home to Korova, the market leader in high potency products across multiple product categories, currently available in California, Oregon, Arizona, and Oklahoma, as well as Sticks and Cabana. For more info, please visit: unrivaledbrands.com. For more info, please visit: https://unrivaledbrands.com.
Cautionary Language Concerning Forward-Looking Statements
Certain statements contained in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These include statements regarding management’s intentions, plans, beliefs, expectations, or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. We use words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors.
New factors emerge from time-to-time and it is not possible for us to predict all such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. These risks, as well as other risks associated with the combination, will be more fully discussed in our reports with the SEC. Additional risks and uncertainties are identified and discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. Forward-looking statements included in this release are based on information available to Company as of the date of this release. The Company undertakes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this release.
Contact
Jason Assad
LR Advisors LLC.
jassad@unrivaledbrands.com
678-570-6791
For media inquiries:
Nic Johnson
Russo Partners
Nic.johnson@russopartnersllc.com
303-482-6405
Source: Globenewswire