BellRock Brands Announces Entry into the Arkansas Market, Expansion of its Product Offering in Missouri; Departure of General Counsel

AURORA, Colo., Oct. 23, 2023 /PRNewswire/ - BellRock Brands Inc. ("BellRock" or the "Company") (CSE: BRCK.U), an industry-leading cannabis multi-state house of brands, announced today that the Company has entered into a licensing agreement with Dark Horse Medicinals, LLC ("Dark Horse") to bring the Mary's Medicinals® and Dixie™ Brands to Arkansas. BellRock's entrance into the Arkansas market continues the company's vision of expanding access to customers via partnerships with industry leaders such as Dark Horse. Mary's Medicinals products will be available in Arkansas in Q4 2023, with the launch of Dixie products expected to follow in 2024.

"Dark Horse is a cannabis leader in Arkansas. They have a customer-first mentality as evidenced by their market penetration and loyal consumer following. We are excited to launch Mary's award-winning patches and wellness products this year," stated Brian Jansen, President and CEO of BellRock Brands. "Dark Horse Medicinals is proud to partner with BellRock Brands to bring Mary's Medicinals and Dixie to Arkansas patients. We firmly believe in bringing quality and consistent products to the people of Arkansas and BellRock has a proven track record of each of those core values," said Casey Flippo, CEO of Dark Horse Medicinals.

Additionally, Dixie Brands is in the process of launching several new product lines in the state of Missouri under its licensing agreement with its strategic partner, BRB Missouri, LLC. Dixie Peak gummies, Dixie SYNERGY gummies, and Dixie Vapes will all be available throughout the state of Missouri by the end of 2023. Peak gummies will cater to the rapidly growing sub-category of high milligram products. SYNERGY gummies introduce ratioed and products containing minor cannabinoids. Dixie's new vapes showcase flavors that mirror the brand's most popular flavors such as Berry Blaze and Tropic Twist. The Missouri market has shown tremendous growth since its launch of adult use earlier this year.

BellRock is also continuing to execute its previously announced operational turnaround. Last year, the Company made several changes to senior management and engaged West 4th Holdings, LLC, a management consulting firm focused on improving operational productivity for small to mid-size companies. Under this leadership, BellRock continues to execute strategies to reduce costs, drive margin expansion, and improve cash flow. Alongside these operational actions, the Company has engaged creditors with the goal of lowering the Company's overall debt and interest burden. In pursuing a long-term success strategy, BellRock is considering all strategic alternatives to maximize value for its various stakeholders. These may include, but are not limited to, future corporate development activities, restructuring of debt obligations on its balance sheet, and raising new capital.

Today the Company is also announcing the resignation of Kerry Bilewski as General Counsel and Corporate Secretary, effective November 1, 2023.

BellRock Brands is a multi-state cannabis house of brands possessing one of the industry's broadest product portfolios. BellRock offers more than 100 products via Dixie Brands™ and Mary's Medicinals®. Dixie Brands™ is a leading edibles and beverage company. Mary's Medicinals® is the leader in the cannabis health and wellness category. BellRock's products are currently offered in 11 US states and Canada.  BellRock is also home to Mary's Nutritionals™ and Mary's Tails™, and Mindset™. For more information, please visit www.bellrockbrands.com.

The information provided in this press release may contain "forward-looking information" and "forward- looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, made by the Company (or its predecessors) that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, followed by or that include words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments. These statements speak only as at the date they are made and are based on information currently available and on current expectations and assumptions concerning future events, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from that which was expressed or implied by such forward- looking statements, including, but not limited to, risks and uncertainties related to: (i) the regulation of the medical and recreational marijuana industry in the United States, Canada, Mexico, Australia, New Zealand, Latin America and other countries in which the Company may carry on its business; (ii) the ability of the Company to obtain meaningful consumer acceptance and a successful market for its products on a national and international basis at competitive prices; (iii) the ability of the Company to develop and maintain an effective sales network; (iv) the success of the Company in forecasting demand for its products or services; (v) the ability of the Company to maintain pricing and thereby maintain adequate profit margins; (vi) the ability of the Company to achieve adequate intellectual property protection; (vii) the availability of financing opportunities, risks associated with economic conditions, dependence on management and conflicts of interest; and (viii) other risks described from time to time in documents filed by the Company with securities regulatory authorities.

With respect to the forward-looking statements contained herein, although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements as no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the risks described above. Consequently, all forward-looking statements made in this press release are qualified by such cautionary statements and there can be no assurance that the anticipated results or developments will actually be realized or, even if realized, that they will have the expected consequences to or effects on the Company. The cautionary statements contained or referred to herein should be considered in connection with any subsequent written or oral forward-looking statements that the Company and/or persons acting on the Company's behalf may issue.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

SOURCE BellRock Brands Inc.