Golden Grail Technology Reports Strong 2016 Results

Annual Revenue Growth to $2.3 Million
Anticipates Continued Growth in 2017

WESTON, FL / ACCESSWIRE / May 2, 2017 / Golden Grail Technology Corp. GOGY ("Golden Grail" or the "Company"), reported financial and operational results for the twelve month period ended December 31, 2016.

2016 Highlights

• Record revenues of $2.3 million
• 4,000% increase in revenues
• Gross margins of 74.4%
• 10,587% increase in gross profit

Golden Grail Technology Chief Executive Officer Bill Fisher, commented, "As a direct result of the acquisition of Accurate Venture, which produces the majority of our revenue, Golden Grail generated record revenues of $2.3 million for 2016. Being one of the first companies to get into the mass-market retail of industrial hemp products nation wide, has proven to be a large part of our success. Launching a new product is not a very costly event as we can test consumer acceptance on our large customer base. This allows us to inject new products into our revenue stream, something we plan to be doing a lot of in 2017. Another venture that has an increasing positive benefit to us is our pharmaceutical grade CBD product, bioRenovate®. Sales are primarily through doctor's offices and oncology centers with on-line refills. We expect this to grow exponentially in the coming quarters."

Financial Results for the Year Ended December 31, 2016:

Revenues for the 2016 fiscal year increased 4,000% to $2,297,000 from $56,000 in 2015. Gross Profit increased to $1,710,000 from $16,000 during the same period in 2015, an increase of 10,587%.

CEO Fisher added, "While the dramatic growth was primarily a product of acquiring Accurate Venture in early 2016, the subsidiary itself has increased revenues over 10% from the previous year and the explosive demand of CBD products leaves substantial room for continued growth in 2017."

The Company credits continued awareness of nationally legalized Cannabidiol (CBD) derived from hemp, as well as the significant position that the Company brands have within the Cannabis industry. Additionally the Company's strong Internet presence and the performance of its in-house marketing efforts, significantly increase sales and profits. The Company anticipates continued sales increases along this trend-line for the balance of 2017.

Gross profit was $1.7 million for the twelve months ended December 31, 2016, representing a 74.4% gross margin.

Operating loss for the twelve months ended December 31, 2016 was $1.0 million.

Net loss for the twelve months ended December 31, 2016 was $1.5 million.

At December 31, 2016, Golden Grail Technology had $66,513 cash and cash equivalents and 54.5 million shares issued and outstanding.

About Golden Grail Technology Corp.

Golden Grail Technology Corp. (GOGY) is a technology and software solutions provider to companies with unique value propositions operating in mass market consumer sectors such as jewelry, health and personal care, beauty, electronics, pet and animal supplies, sports and games. Golden Grail's mission is to utilize their network of industry experts, who specialize in targeting areas of business that can be accelerated with technology, in order to give small companies an opportunity to compete with industry giants.

For more information, please visit: http://goldengrailtechnology.com and http://accurateventure.com

Forward-Looking Statements

Except for the historical and present factual information contained in this press release, the matters discussed in this press release, including statements identified by words such as "will," "expected," "plans," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements, including the factors described in filings with OTC Markets, including but not limited to discussion under the caption "Risk Factors." Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment solely as of the date hereof.

Contact Information

Hayden IR
(917) 658-7878
hart@haydenir.com

SOURCE: Golden Grail Technology Corp.