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The interest we received exceeded the amount ultimately raised, but we strategically chose to close on a smaller, more disciplined transaction. This allows us to advance our plans with a strong and supportive shareholder base while minimizing dilution and maintaining flexibility. The Offering was initially targeted at approximately $4 million; however, following discussions with the Lead Agent and strong investor interest, the Company determined it was in the best interest of shareholders to complete a $2 million financing. This strategic decision allowed the Company to focus on attracting a core group of high-quality, long-term investors who align with its vision and growth plans. "We are very pleased with the outcome of this successful financing," said Mike Perron, Chief Executive Officer of the Company. "The interest we received exceeded the amount ultimately raised, but we strategically chose to close on a smaller, more disciplined transaction. This allows us to advance our plans with a strong and supportive shareholder base while minimizing dilution and maintaining flexibility." The Company intends to use the net proceeds from the Offering for capital expenditures and brand-awareness initiatives and marketing activities. In connection with the Offering, the Company paid a cash commission of $143,233.95 and issued 220,360 broker warrants (the " Broker Warrants ") and a corporate finance fee paid through the issuance of 157,400 Units. Each Broker Warrant entitles the holder to acquire a Unit at the Issue Price for a period of three years from the Closing Date. Certain insiders of the Company participated in the Offering, acquiring an aggregate of 154,000 Units on the same basis as other subscribers. The participation in the Offering by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is relying on exemptions in MI 61-101 from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the units paid by such insiders, is more than 25% of the Company's market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to "U.S. persons" (as that term is defined in Rule 902(k) of Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

"We're thrilled to introduce the MTL brand to Australia," said Michael Perron, CEO of MTL, "Our success in Canada is built on consistently delivering quality products that resonate with consumers. We're confident our commitment to excellence will be equally well received in Australia." Australia's medical cannabis market is experiencing strong momentum, with revenues projected to double from around $600 million in 2024 to more than $1.2 billion by 2028, according to Prohibition Partners' fifth edition of "The Global Cannabis Report."(1)  Note: (1) As referenced by Business of Cannabis in its article "Australia's Medical Cannabis Market Set to Outgrow Europe's Biggest Players", https://businessofcannabis.com/australias-medical-cannabis-market-set-to-outgrow-europes-biggest-players/

"We are incredibly proud of what we have been able to achieve over the past few years since completing the RTO transaction with Canada House Wellness and the subsequent turnaround and integration of the consolidated operations, allowing us to achieve industry leading results" said Michael Perron, CEO of MTL. "We are making significant investments into our operations in order to expand our production capabilities and realign internal operations to maximize our future growth potential, setting the Company up for the next chapter of growth. Now that we have our house in order with the support of a Schedule 1 financial institution, we are able to comfortably take on these transformational capital initiatives and set the company up for continued long term growth in the Canadian recreational, Canadian medical, and international export markets."

The Credit Facility is comprised of (i) an uncommitted demand revolving credit facility of up to $4,000,000, margined against the eligible account receivables of the company (ii) a committed non-revolving term credit facility available by way of a single drawdown in an amount equal to $6,750,000, with a contractual term of three (3) years, (iii) a committed non-revolving term credit facility available by way of a single drawdown in an amount equal to $12,150,000, with a contractual term of three (3) years, and (iv) an uncommitted delayed draw non-revolving term credit facility available by way of one or more drawdowns in a total aggregate amount of $4,120,000. The Credit Facility will bear an interest rate of Prime or adjusted term CORRA plus an applicable margin. The Credit Facility is secured against (i) all of the present and after-acquired undertakings, property and assets of the Company and its material operating subsidiaries, and (ii) the property located at 551 Rue Saint-Marc, Louiseville, QC, by a first-ranking collateral mortgage.  "We are incredibly excited to partner with the team to finance the continued growth of the business and strengthen our balance sheet," said Michael Perron, CEO of the Company. "We fully appreciate the confidence that the bank has in our management team and the business we have built, and we look forward towards repaying that trust with continued performance as we grow together in the coming years." The Existing Debts being refinanced under the Credit Facility were derived solely from the predecessor business of Canada House Cannabis Corp. and incurred prior to the completion of the business combination of Canada House Cannabis Corp. and Montréal Cannabis Médical Inc., and include the entirety of the $8,316,830.21 in amounts payable pursuant to the convertible debenture issued on August 4, 2020, as amended, to Archerwill Investments Inc., and delivery of all remaining related 14,466,568 prepayment warrants with an exercise price $0.5749; $10,041,094.94 in amounts payable pursuant to the historical acquisition of IsoCanMed Inc. that closed June 12, 2020; and approximately $575,000 in amounts payable pursuant to the secured debentures issued on December 5, 2017. "We view the refinancing of the legacy Canada House creditors as the final chapter in the closing of the business combination between Canada House and MTL Cannabis," added Richard Clement, Chairman and co-founder of MTL Cannabis Corp. "We are extremely proud of managements' financial stewardship of the combined company and the turnaround of our financial position that this milestone symbolizes."

"We've entered a new era at MTL as we move from building the foundation to achieving record-breaking results," said Michael Perron, CEO of MTL. "This achievement reflects the dedication of our people, the strength of our disciplined operating model, and our team's ability to execute at a high level. We have built a strong and scalable platform, and at the core of it all is an unwavering commitment to delivering the highest quality products and services to our patients and customers. I am deeply grateful to the entire MTL team for making that possible."  Richard Clement, Chair of the board of directors, commented "I am extremely proud of our team for their focus, determination, and the incredible efforts to help build the company to what it is today. We look forward to continuing to deliver strong results for our customers, patients, and shareholders."

We are pleased to be upgrading to the OTCQX market. We feel that OTCQX will provide a valuable platform to help build visibility among U.S. investors," said Michael Perron, CEO of MTL Cannabis Corp

The OTCQB listing marks a significant milestone for MTL Cannabis Corp. as we expand our presence and accessibility in the US market," said Michael Perron, CEO of MTL Cannabis Corp. "This step underscores our commitment to growing shareholder value by reaching a broader investor base, increasing liquidity, and positioning MTL Cannabis Corp. as a key player in the global cannabis industry. The US market's depth and engagement present opportunities for the Company's continued growth and development.

Our resilient strategy underpins the strong results we've delivered quarter-over-quarter, demonstrating that our high-quality products and leading industry performance are driving enhanced value for shareholders" said Michael Perron, CEO of MTL. "With robust opportunities for continued growth, our company is well-positioned to deliver superior products for our expanding client base both domestically and internationally.

As stated in the news release of the Company dated November 22, 2024, the Meeting will be held on December 30, 2024, at 9:00am (Pacific Time), at Suite 2500, 700 West Georgia Street, Vancouver, BC, V7Y 1B3. Shareholders are encouraged to review and vote on the annual matters to be considered at the Meeting, which include: to receive the audited financial statements of the Company for the fiscal year ended March 31, 2024, and the report of the auditors thereon; to set the number of directors of the Company for the ensuing year at five (5) persons; to elect directors of the Company; and to confirm the appointment of MNP LLP as auditors of the Company and to authorize the board of directors to fix their renumeration. Materials for the Meeting are posted under the Company's profile on www.sedarplus.ca and on the Company's website at https://mtlcorp.ca/investors/

These results reflect the high-quality of our team and their efforts to deliver the best products and services to our customers and medical patients.  "We are immensely proud of our record-breaking results this quarter, demonstrating momentum in our strategic growth and ability to deliver sustainable value for shareholders, "said Michael Perron, CEO of MTL. "These results reflect the high-quality of our team and their efforts to deliver the best products and services to our customers and medical patients."

“We look forward to continuing to deliver best in class products and services to our incredible customers and patients.” First Quarter 2025 Consolidated Financial Highlights for MTL: Income Statement: Revenue of $25,842,264, an improvement of $8,978,969, or 53%, compared to $16,863,295 in the same quarter of last year. Net Revenue of $20,721,232, an improvement of $7,957,445, compared to $12,763,787 in the same quarter of last year. Gross margin before fair value adjustments of 54%, an increase of 16%, compared to 38% in the same quarter of last year. Operating Income of $4,963,969, an improvement of $4,364,370, compared to $599,599 in the same quarter of last year. Net Income and Comprehensive Income of $2,206,313, an improvement of $2,393,161, compared to a loss of ($186,848) in the same quarter of last year.  Statement of Cash Flows: Net cash inflows from operating activities of $5,602,954, compared to $2,140,029 in the same period of last year. Net cash used in investing activities of ($1,924,128), compared to ($318,847) in the same period of last year. Net cash used in financing activities of ($2,774,581), compared to ($1,291,189) in the same period of last year. Overall net cash increased to $2,256,380, an improvement of $904,245, from $1,352,135 at the beginning of the period. Additionally, the company was able to demonstrate retained earnings of $1,545,148, compared to an accumulated deficit of ($614,165) in the same period of last year.

“MTL’s Q4 and record full year results represent the unwavering commitment from our team to delivering high-quality and consistent cannabis products and services to our customers and patients, while delivering strong results and fundamentals to our shareholders,”

“We are incredibly excited to continue to build and expand our business, always striving to be the industry leader with respect to providing the highest quality products and services for all of customers, patients, and the partners who support us.” Third Quarter 2023 Consolidated Financial Highlights for MTL: Income Statement: Revenue of $22,395,199, an improvement of $13,699,958, or 158%, compared to $8,695,241 in the same quarter of last year. Net Revenue of $19,331,624, an improvement of $12,608,804, compared to $6,722,820 in the same quarter of last year. Gross Profit of $8,994,030, an improvement of $6,688,626, compared to $2,305,404 in the same quarter of last year. Operating Income of $1,876,890, an improvement of $3,507,951, compared to ($1,631,061) in the same quarter of last year. Net Income and Comprehensive Loss of ($248,286), an improvement of $1,493,190, compared to ($1,741,476) in the same quarter of last year. Statement of Cash Flows: Net cash inflows from operating activities of $10,076,585, compared to ($1,023,979) in the same period of last year. Net cash used in investing activities of ($1,769,216), compared to ($975,204) in the same period of last year. Net cash used in financing activities of ($7,690,329), compared to $2,508,372 in the same period of last year. Overall net cash increased to $1,054,591, an improvement of $617,040, from $437,551 at the beginning of the period. Year to Date Highlights (9 months): Revenue of $62,405,421, an improvement of $41,872,376, or 204%, compared to $20,533,045 in the same period of last year. Gross Profit of $18,565,107, an improvement of $12,338,457, compared to $6,226,650 in the same period of last year. Operating Income of $3,319,848, an improvement of $4,235,902, compared to ($916,054) in the same period of last year. Net Income and Comprehensive Income of $1,558,005, an improvement of $3,438,516, compared to ($1,880,511) in the same period of last year. Management Commentary: "I could not be more proud of our team for their relentless passion, focus, and discipline as we continue to integrate our operations and grow the business" commented Michael Perron, CEO of MTL. "We are incredibly excited to continue to build and expand our business, always striving to be the industry leader with respect to providing the highest quality products and services for all of customers, patients, and the partners who support us." Richard Clement, Chair of the Board, commented "This is such an exciting time for our company. We are starting to see the results from the incredible efforts of our team over the past two years and couldn't be happier to deliver continued results to shareholders. We look forward to building on the foundation we have set and continuing to deliver on our promise of quality and consistency to consumers and shareholders alike."

Canadian Securities Exchange Magazine features stories about business leaders and entrepreneurs in the capital markets. More details on page 18 to 21.

MTL Cannabis Corp. announces that as consideration for the extension of $4,166,666.33 in indebtedness owed to Gestion-R RB50 Inc. PICKERING, ON, Dec. 11, 2023 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) ("MTL" or the "Company") announces that as consideration for the extension of $4,166,666.33 in indebtedness owed to Gestion-R RB50 Inc. (the "Lender") otherwise due and payable on December 12, 2023 to a new maturity date of April 30, 2024, the Company has agreed to amend the exercise price and expiry date of 333,333 common share purchase warrants of the Company ("Warrants") held by such Lender. The exercise price of the Warrants will be reduced from $1.20 per common share to $0.66 per share. Further, as required under the policies of the Canadian Securities Exchange, the Warrants will also be amended to include a clause where, if the closing price of the common shares for ten consecutive trading days exceeds $0.825 per Share (the "Accelerated Period"), the expiry date of the Warrants will be automatically accelerated without any further action on the part of the Company or the holder of the Warrants to a date that is 30 days following the end of the Accelerated Period.

MTL Cannabis Corp. Reports Second Quarter Results with $23.1 Million of Revenue, $2.4 Million of Net Income, and $2.8M of Positive Cash Flows PICKERING, ON, Nov. 30, 2023 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) ("MTL" or the "Company") is pleased to report it has filed the financial statements as at and for the three-month and six-month periods ending September 30, 2023, and 2022, the first consolidated financial statements after the completion of the business combination between Montréal Cannabis Médical Inc. ("MTL Cannabis") and Canada House Cannabis Group Inc. on July 28, 2023. Complete details may be found at www.sedarplus.ca .