MTL Cannabis earns $6.82-million in fiscal 2025

Mr. Michael Perron reports MTL CANNABIS REPORTS Q4 AND RECORD FULL YEAR 2025 FINANCIAL RESULTS DRIVEN BY $105.2M OF REVENUE, $21.7M OF EBITDA, AND $18.2M OF CASH FLOWS FROM OPERATIONS MTL Cannabis Corp. has filed the annual financial statements for the year ending March 31, 2025. Complete details may be found at SEDAR+. Full year consolidated financial highlights for MTL Income statement: Revenue of $105,239,109, an increase of $22,175,221, or 27 per cent, compared with $83,063,888 in the prior year. Gross margin before fair value adjustments of 55 per cent, an increase of 9 per cent, compared with 46 per cent in the prior year. Operating income of $16,051,858, an increase of $11,439,188, or 248 per cent, compared with $4,612,670 in the prior year. Net income and comprehensive income of $6,826,256, an increase of $4,376,733, or 179 per cent, compared with $2,449,523 in the prior year. EBITDA (earnings before interest, taxes, depreciation and amortization) of $21,722,218, an increase of $12,495,154, or 135 per cent, compared with $9,227,064 in the prior year. Adjusted EBITDA of $20,266,508, an increase of $7,622,341, or 60 per cent, compared with $12,644,167 in the prior year. Statement of cash flows: Net cash inflows from operating activities of $18,230,108, an increase of $4,499,228, or 32 per cent, compared with $13,780,880 in the prior year. Net cash used in investing activities of ($5,484,584), an increase of ($3,273,646), compared with ($2,210,938) in the prior year. Net cash used in financing activities of ($8,416,701), a decrease of $2,238,657, compared with ($10,655,358) in the prior year. Overall net cash increased to $5,680,958, an increase of $4,328,823, or 320 per cent, compared with $1,352,135 at the beginning of the fiscal year. Additionally, the company was able to demonstrate retained earnings of $5,705,091, an increase of $6,319,256, or 1,029 per cent, compared with an accumulated deficit of ($614,165) in the prior year. Management commentary "We've entered a new era at MTL as we move from building the foundation to achieving record-breaking results," said Michael Perron, chief executive officer 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." Non-IFRS (international financial reporting standards) financial measures The company's method of calculating EBITDA and adjusted EBITDA may differ from other companies and, accordingly, they may not be comparable with similar measures used by other companies. The attached table provide a reconciliation of net income as reported under IFRS in the annual financial statements to EBITDA and adjusted EBITDA for each of the 12-month periods ended March 31, 2025, and 2024. About MTL Cannabis Corp. MTL Cannabis is the parent company of Montreal Medical Cannabis Inc., a licensed producer operating from a 57,000-square-foot licensed indoor grow facility in Pointe Claire, Que.; Abba Medix Corp., a licensed producer in Pickering, Ont., that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Que., growing best-in-class indoor cannabis, in its 64,000-square-foot production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, prerolls and hash marketed under the MTL Cannabis, Low Key by MTL and R'belle brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. We seek Safe Harbor.