Chalice Brands Ltd. Celebrates Record Setting 420 Performance and Announces the Launch of Chalice Metaverse Cannabis Platform

PORTLAND, Ore., April 26, 2022 (GLOBE NEWSWIRE) -- Chalice Brands Ltd. CHAL CHALF ("Chalice" or the "Company"), a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, is pleased to announce the launch of Chalice Metaverse on 4/20 resulting in a 25% increase in recorded daily revenue over the previous year and a 40.6% increase in vertical sales at Chalice Farms and Homegrown retail stores.

"This year's 420 represents another all-time sales record for Chalice Brands, marking this the third year in a row that we have set all time revenue record on 420," said Jeff Yapp, President and Chief Executive Officer of Chalice Brands. "This record setting performance was due to the incredible work by one of the best teams in the industry and our amazing partners. I am grateful to be working with such amazing people."

The Company continues to expand its physical footprint in the Oregon market, while providing unique experiences in Web 3.0 and the Metaverse to build a new kind of community and ownership for customers. Bridging the gap between digital and physical worlds brings tremendous value to support cannabis brands, farms, artists, communities and collectors.

On 420, customers journeyed into the Chalice Metaverse and took part in the immersive experience of learning more about the Chalice product line and socializing with the Best Bud Club members. In addition, they were also able to experience the next evolution in commerce, by purchasing a Chalice Genesis NFT or trying on the latest in tie-dye wearables in the amazing Chalice Metaverse.

Link to view highlights: https://www.chalicemetaverse.com/420

"Community and self-expression are at the heart of the Chalice Metaverse. Our platform allows consumers to join and share in a new interactive experience. In-world fans can create and customize avatars, hang out, talk with friends, view product exhibitions and connect with personal budtenders who provide premier concierge level personal shopping. It's a new space and our goal is to collaborate with our community to help develop, shape and grow the Chalice Metaverse," said Karen Morgan, Chief Marketing Officer of Chalice Farms.

"Our conscious collaboration with industry-leading partners has helped us to drive sales to an all-time high. By adhering to the values of plant, planet, people we have been able to provide consumers with unmatched quality in product, value, and experience," commented Meghan Miller, Chief Operating Officer at Chalice Brands. "It has been such a privilege to celebrate 420 with our incredible team, partners, and clients. I am exceptionally proud of the hard work and dedication of the entire Chalice family."

About Chalice Brands Ltd.

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 12 owned and six managed dispensaries in and around Portland, Oregon. The Company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Brands, including Chalice Farms, Left Coast Connection, Homegrown Oregon and Cannabliss & Co., with a focus on health and wellness. Chalice operates nationally through Fifth & Root and has operations in Oregon and California. Visit investors.chalicebrandsltd.com/ for regular updates.

Investor Relations:
John Varghese
Executive Chairman
Chalice Brands Ltd.
971-371-2685
ir@chalicebrandsltd.com

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

Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company's future business operations, the opinions or beliefs of management and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include but are not limited to general business, economic and competitive uncertainties, regulatory risks, market risks, risks inherent in manufacturing and retail operations such as unforeseen costs and production shutdowns, difficulties in maintaining brand loyalty, and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. Forward-looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This press release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.