/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ CALGARY, AB, May 27, 2024 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV:HASH) ("SSC") is pleased to provide Q2 2024 gross revenue, adjusted EBITDA and net income guidance including record projected quarterly gross revenue and the continuation of SSC's quarterly positive adjusted EBITDA and normalized net income streak to nine and seven quarters respectively. Q2 2024 Guidance SSC projects record quarterly gross revenue during Q2 2024 of approximately $4,000,000 (Q1 2024 - $3,122,232), representing a growth rate of 28% quarter over quarter. SSC's continued revenue growth is primarily attributable to SSC's brands Astrolab, and Frootyhooty, and SSC's acquisition of Lamplighter in January 2024. SSC also projects Q2 2024 adjusted EBITDA of approximately $850,000 (Q1 2024 - $611,571) (see Non-IFRS Financial Measures, below), representing a growth rate of 39% quarter over quarter, and net income of approximately $750,000 (Q1 2024 - $502,536), representing a growth rate of 49% quarter over quarter. SSC's streak of positive adjusted EBITDA and normalized net income is expected to extend to nine and seven quarters respectively. Jeff Swainson, President and CEO of SSC, stated: "On the heels of our oversubscribed $800,000 unit offering completed in April, we expect record Q2 2024 revenue of $4,000,000 and our seventh straight quarter of normalized net income. We are encouraged by our trajectory and our focus remains on profitable revenue growth both organically and through opportunistic acquisitions." SSC has no long-term debt and approximately 53.8 million common shares outstanding (basic), of which approximately 30% are held by insiders. Of SSC's outstanding common shares, approximately 17.0 million (32%) are escrowed pursuant to TSX Venture Exchange ("TSXV") policies. Further details with respect to SSC's escrowed securities can be found in SSC's filing statement dated October 31, 2023. SSC also advises that it has filed a revised 2023 annual MD&A and Q1 2024 MD&A to correct a data entry error on the quarterly results summary pages.  SSC's filing statement and the revised MD&As are available on SSC's SEDAR+ profile at www.sedarplus.ca. About Simply Solventless Concentrates Ltd. SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see www.simplysolventless.ca. Notice on Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning capitalizing on SSC's business plan and SSC's expected growth, results of operations and performance. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees  and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from ...