Replies to post #6 on Vibe Growth Corp. (VIBEF)

[JohnCM]

Vibe Reports Record First Quarter 2021 Revenue and Positive Net Income

Newsfile Corp.
May 27, 2021

Consecutive profitable quarters position Vibe for strong growth in 2021 and beyond

2021 Q1 Highlights:

Revenue increased 75% compared to the first quarter of 2020

Positive After Tax Net Income in the first quarter of 2021

Same store sales increased 35% versus 2020

Company continued to expand store footprint

Completed a $16 million (CAD) equity financing

Cash position of $13.4 million

First Quarter 2021 Highlights

Revenue in the first quarter was $7.54 million, a 75% increase over the first quarter of 2020;EBITDA in the first quarter was $0.83 million, an increase of $0.58 million over the EBITDA recorded during the first quarter of 2020(a);After Tax Net Income in the first quarter was $68,248 versus a loss of $222,331 in the first quarter of 2020;Adjusted Funds Flow in the fourth quarter was $0.20 million, versus $0.001 million in the first quarter of 2020(a);Same Store Dispensary Sales increased 35% versus the first quarter of 2020;E-commerce Orders accounted for 22.7% of transactions in the first quarter 2021;Equity Financing on March 16, 2021, the Company completed a CAD $15,954,435 financing via the issuance of 19,456,750 units. Each Unit was priced at CAD $0.82 and is comprised of one common share and one-half share purchase warrant with a whole warrant exercisable at CAD $1.06 until March 16, 2024. The Company issued 1,331,736 broker warrants to the Underwriters and Agents exercisable at CAD $0.82 until March 16, 2024 and 408,000 Units as partial consideration for their commission;Cash Position as of March 31, 2021 was US $13,401,494.

Sacramento, California--(Newsfile Corp. - May 27, 2021) - Vibe Growth Corporation (CSE: VIBE) (OTC: VBSCF) (FSE: A061) (the "Company" or "Vibe"), a vertically integrated California cannabis enterprise, is pleased to announce after tax net income in the first quarter of 2021, resulting from significantly higher sales volumes at its California dispensaries. All financial information is provided in U.S. dollars unless otherwise indicated. The Condensed Consolidated Financial Statements and Management Discussion and Analysis ("MD&A") for the three-month period ended March 31, 2021 are available on the Company's SEDAR profile at www.sedar.com and on Vibe's website at www.vibebycalifornia.com.

Outstanding Shares
85,480,295
04/08/2021