{"id":491053,"date":"2021-05-11T07:34:28","date_gmt":"2021-05-11T11:34:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/"},"modified":"2021-05-11T07:34:28","modified_gmt":"2021-05-11T11:34:28","slug":"aegis-brands-reports-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/","title":{"rendered":"Aegis Brands Reports First Quarter Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>MISSISSAUGA,\u00a0ON, <span class=\"xn-chron\">May 11, 2021<\/span> \/CNW\/ &#8211; <b>Aegis Brands Inc. <\/b>(the &#8220;Company&#8221; or &#8220;Aegis Brands&#8221;) (TSX: AEG) today reported financial results for the first quarter ended <span class=\"xn-chron\">March 27, 2021<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <u>Highlights<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>The sale of Second Cup was consummated on <span class=\"xn-chron\">April 23, 2021<\/span>. <\/li>\n<li>Consolidated Net Loss including Second Cup for Q1 was <span class=\"xn-money\">$1,801,000<\/span> or <span class=\"xn-money\">$0.08<\/span> per share compared with <span class=\"xn-money\">$2,897,000<\/span> or <span class=\"xn-money\">$0.13<\/span> per share one year ago. <\/li>\n<li>Bridgehead&#8217;s Q1 Net Income was <span class=\"xn-money\">$17,000<\/span> compared to a Net Loss of <span class=\"xn-money\">$560,000<\/span> last year. <\/li>\n<li>Hemisphere revenue rose by 38% in Q1 vs the previous quarter. <\/li>\n<li>Hemisphere&#8217;s Net Loss was <span class=\"xn-money\">$356,000<\/span> in Q1 compared to <span class=\"xn-money\">$1,120,000<\/span> in Q4 of 2020.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <u>Aegis Brands Inc.<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>The sale of Second Cup Coffee Co. to Foodtastic was completed on <span class=\"xn-chron\">April 23, 2021<\/span>. The proceeds from the transaction were <span class=\"xn-money\">$14 million<\/span> (subject to certain closing adjustments) of which <span class=\"xn-money\">$12 million<\/span> was received at closing. As a result, the Company significantly strengthened its financial ability to carry out its strategic objectives in consolidation while growing the Bridgehead and Hemisphere Cannabis brands. <\/p>\n<p>&#8220;With the sale complete, we are now able to focus on the future of Aegis Brands,&#8221; said <span class=\"xn-person\">Steven Pelton<\/span>, President and CEO of Aegis Brands. &#8220;We look forward to seeking out new strategic growth and development opportunities with entrepreneurs who are poised to take advantage of this pivotal time for the company.&#8221; <\/p>\n<p>Moving forward with a clean balance sheet, Aegis continues to seek out acquisition. In the wake of the disruption and innovation as a result of the pandemic, the Company sees a broad array of opportunities. <\/p>\n<p>\n        <b><br \/>\n          <u>Bridgehead<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Bridgehead exceeded management expectation in the first quarter and continued to see strong e-commerce and wholesale sales, now selling coffee in Costco, Whole Foods, and Farm Boy locations in addition to several local <span class=\"xn-location\">Ottawa<\/span> vendors. Diversifying its presence across multiple revenue channels, Bridgehead is now available to consumers through e-commerce, wholesale (retail grocery) and traditional brick and mortar coffeehouses. <\/p>\n<p>Bridgehead retail sales have been impacted as a result of the third wave of COVID-19 but looks forward to an eventual steady increase in traffic and sales at its stores, as COVID restrictions alleviate. <\/p>\n<p>Bridgehead&#8217;s Same Store Sales were -29.41% compared with -38.52% in the fourth quarter of 2020, indicating a slow recovery as restrictions lifted in the latter part of the quarter in the <span class=\"xn-location\">Ottawa<\/span> area. 16 out of 20 stores were open consistent with Q4 of 2020.<\/p>\n<p>In 2020 the wholesale revenue channel grew by 48%. This year-to-date wholesale revenue is up 106% year over year. \u00a0E-commerce revenue climbed over <span class=\"xn-money\">$800,000<\/span> in 2020. In 2021, the Company expects e-commerce revenue to continue to outperform pre-pandemic level by four times.<\/p>\n<p>&#8220;We have pivoted to provide additional points of distribution for our brand beyond our <span class=\"xn-location\">Ottawa<\/span> coffeehouses,&#8221; said <span class=\"xn-person\">Kate Burnett<\/span>, COO of Bridgehead. &#8220;These added revenue channels are here to stay and will allow Bridgehead to reach many more coffee lovers across the country.&#8221;<\/p>\n<p>Bridgehead will open a new location at <span class=\"xn-org\">Carleton University<\/span> in the fall of 2021, as it continues to explore expansion opportunities for the brand. <\/p>\n<p>\n        <b><br \/>\n          <u>Hemisphere Cannabis Co.<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Hemisphere&#8217;s revenue increased by 38% from Q4 of 2020 to Q1 this year. Currently operating four stores in <span class=\"xn-location\">Ontario<\/span>, Hemisphere will have ten locations open by the end of 2021 including one in <span class=\"xn-location\">Alberta<\/span>. <\/p>\n<p>&#8220;We began opening Hemisphere locations in some of the hardest hit parts of <span class=\"xn-location\">Ontario<\/span> during the pandemic in <span class=\"xn-chron\">July 2020<\/span>,&#8221; said <span class=\"xn-person\">Jenn Juby<\/span>, Vice President of Retail for Hemisphere. &#8220;Having said that, we have received very strong responses to our brand and marketing efforts in Q1 and the start of Q2, including our 4\/20 (cannabis holiday) promotion. We have plans to further leverage partnerships and create additional value-added offers throughout the year. We also expect a significant lift in sales when restrictions are lifted.&#8221;<\/p>\n<p>\n        <b><br \/>\n          <u>About Aegis Brands Inc.<br \/><\/u><br \/>\n        <\/b>Aegis Brands Inc. owns and operates a Bridgehead Coffee and Hemisphere Cannabis Co. The Company&#8217;s vision is to build a portfolio of amazing brands that can grow and flourish with access to our resources and expertise. The Company is committed to letting each brand operate independently while providing shared expertise to help them thrive.\u00a0\u00a0<\/p>\n<p>For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3159196-1&amp;h=3002446516&amp;u=http%3A%2F%2Fwww.aegisbrands.ca%2F&amp;a=www.aegisbrands.ca\" rel=\"nofollow noopener\">www.aegisbrands.ca<\/a>\u00a0or find the Company on Facebook and Twitter.<\/p>\n<p>\n        <b>CONSOLIDATED HIGHLIGHTS: CONTINUING OPERATIONS OF BRIDGEHEAD, HEMISPHERE CANNABIS CO. AND AEGIS CORPORATE<\/b>\n      <\/p>\n<p>The following table sets out selected IFRS and certain non-IFRS financial measures of the Company and should be read in conjunction with the Unaudited Condensed Interim Financial Statements of the Company for the 13 weeks ended <span class=\"xn-chron\">March 27, 2021<\/span> and <span class=\"xn-chron\">March 28, 2020<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of Canadian dollars, except same caf\u00e9 <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">sales, number of caf\u00e9s, per share amounts, and <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">number of common shares.)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended<\/b><br \/>\n                  <b>\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>March 27, 2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\" \/>\u00a0<\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended<\/b><br \/>\n                  <b>\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\" \/>\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">System sales<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,292<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,221<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Same store sales<sup>1,2<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(29.4%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Number of caf\u00e9s\/locations &#8211; end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,292<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,221<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating costs and expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,879<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$4,280<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating (loss)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($587)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,059)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$170<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($443)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$170<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($79)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($661)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($824)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net loss and comprehensive loss<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($661)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($557)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic and diluted earnings (loss) per share as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.04)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted basic and diluted loss per share<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.03)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets &#8211; end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$23,424<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$25,537<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Number of weighted average common shares issued <\/span>\n              <\/p>\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">and outstanding<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,916,028<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,656,636<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup>See the section &#8220;Definitions and Discussion on Certain non-IFRS Financial Measures&#8221; for further analysis.<\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>2<\/sup>Same caf\u00e9 &amp; store sales represent the percentage change, on average, in sales at caf\u00e9s &amp; stores operating system-wide that have been open for more than 12 months. This metric is limited to the Bridgehead brand, as the Hemisphere brand started in mid-July of fiscal 2020, and as such, there is no comparative information available.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>CONSOLIDATED HIGHLIGHTS: DISCONTINUED OPERATIONS OF SECOND CUP<\/b>\n      <\/p>\n<p>The following table sets out selected IFRS and certain non-IFRS financial measures of the Company and should be read in conjunction with the Unaudited Condensed Interim Financial Statements of the Company for the 13 weeks ended <span class=\"xn-chron\">March 27, 2021<\/span> and <span class=\"xn-chron\">March 28, 2020<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of Canadian dollars, except same caf\u00e9 <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">sales, number of caf\u00e9s, per share amounts, and <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">number of common shares.)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended<\/b><br \/>\n                  <b>\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>March 27, 2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended<\/b><br \/>\n                  <b>\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">System sales of caf\u00e9s<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$13,150<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$27,667<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Same caf\u00e9 sales<sup>1,2<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38.1%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9.7%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Number of caf\u00e9s &#8211; end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">215<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">242<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,357<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$5,572<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating costs and expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$4,345<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7,708<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating (loss)<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($988)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($2,136)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($318)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,815)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($318)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,392)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,140)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($2,073)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net loss and comprehensive loss<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,140)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($1,434)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic and diluted earnings (loss) per share as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.05)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.09)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted basic and diluted loss per share<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.05)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.06)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets &#8211; end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$75,821<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$97,333<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Number of weighted average common shares issued and outstanding<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,916,028<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,656,636<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup>See the section &#8220;Definitions and Discussion on Certain non-IFRS Financial Measures&#8221; for further analysis.<\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>2<\/sup>Same caf\u00e9 &amp; store sales represent the percentage change, on average, in sales at caf\u00e9s &amp; stores operating system-wide that have been open for more than 12 months.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Held for Sale and Discontinued Operations<\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">February 7, 2021<\/span>, the Company entered into a definitive agreement to sell substantially all of the assets comprising Second Cup to an affiliate of <span class=\"xn-location\">Quebec<\/span>-based Foodtastic Inc. The sale price is <span class=\"xn-money\">$14 million<\/span> in cash payable on closing (subject to customary closing adjustments) as well as a post-closing earn-out based on royalties earned from certain Second Cup caf\u00e9s opened following completion of the sale. The sale was approved by 99.62% of the votes cast by the Company&#8217;s common shareholders at a special meeting of common shareholders on <span class=\"xn-chron\">April 7, 2021<\/span> and was completed at end of business on <span class=\"xn-chron\">April 23, 2021<\/span>. In accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) <i>Non-Current Assets Held for Sale and Discontinued Operations<\/i>, the Company has classified this disposal group of assets as held for sale as its carrying amount will be recovered principally through a sale transaction rather than through continuing use.<\/p>\n<p>As the disposal group represents a major line of business, and the Company has a single coordinated plan to dispose of this separate major line of business, the Company has presented the after-tax loss from discontinued operations as a single amount in the condensed interim consolidated statement of operations and comprehensive loss.<\/p>\n<p>\n        <b>First Quarter \u2013 <\/b><br \/>\n        <b>Aegis Brands Inc.<\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>System sales of caf\u00e9s and stores<br \/><\/i><br \/>\n        <\/b>System sales of caf\u00e9s and stores for the 13 weeks ended <span class=\"xn-chron\">March 27, 2021<\/span> were <span class=\"xn-money\">$3,292,000<\/span> compared to <span class=\"xn-money\">$3,221,000<\/span> in the prior year, representing an increase of <span class=\"xn-money\">$71,000<\/span> or 2.2%. Sales in 2021 included <span class=\"xn-money\">$1,088,000<\/span> attributed to the Hemisphere business (2020 &#8211; $nil).\u00a0 The decrease in caf\u00e9 sales of Bridgehead is primarily due to temporary closures and scaled down nature of operations of those that were open (i.e. closure of dining room space; operations limited to take out and delivery, and shorter hours) as a direct impact of the COVID-19 pandemic.<\/p>\n<p>\n        <b><br \/>\n          <i>Same caf\u00e9 and store sales<br \/><\/i><br \/>\n        <\/b>During the Quarter, same caf\u00e9 sales at Bridgehead locations decreased by 29.4%, as caf\u00e9s continued to be impacted by the ongoing economic impacts of the COVID-19 pandemic, including temporary closures and significant restrictions on store operations, such as the closure of dining room space and operations limited to take-out, delivery and shorter hours.<\/p>\n<p>\n        <b><br \/>\n          <i>Analysis of revenue<br \/><\/i><br \/>\n        <\/b>The Company generated revenue for the Quarter of <span class=\"xn-money\">$3,292,000<\/span> (2020 &#8211; <span class=\"xn-money\">$3,221,000<\/span>), an increase of <span class=\"xn-money\">$71,000<\/span> from its Company-owned and operated locations.<\/p>\n<p>Sales of <span class=\"xn-money\">$1,088,000<\/span> were generated through retail cannabis products and accessories at Hemisphere locations. The Company opened its first two recreational retail cannabis locations in the third Quarter of fiscal 2020 and added two locations in the fourth Quarter 2020. <\/p>\n<p>Company-owned caf\u00e9s and product sales at Bridgehead for the Quarter were <span class=\"xn-money\">$2,204,000<\/span> (2020 &#8211; <span class=\"xn-money\">$3,221,000<\/span>), a decrease of <span class=\"xn-money\">$1,017,000<\/span>. Revenues and business performance from company owed caf\u00e9s were significantly impacted by the economic consequences of COVID19.<\/p>\n<p>As per preceding discussions, sales across both brands continued to be weighed down by drop in consumer foot traffic as a direct result of restrictions from the COVID-19 pandemic.<\/p>\n<p>\n        <b><br \/>\n          <i>Operating costs and expenses<br \/><\/i><br \/>\n        <\/b>Operating costs and expenses include the costs of Company-owned stores and product sales, general and administrative expenses, loss on disposal of assets, and depreciation and amortization. Total operating costs and expenses for the Quarter totaled <span class=\"xn-money\">$3,879,000<\/span> (2020 &#8211; <span class=\"xn-money\">$4,280,000<\/span>) a decrease of <span class=\"xn-money\">$401,000<\/span>. Operating costs in the Quarter were partially reduced by the amount of the financial relief that the Company applied for in connection with the <span class=\"xn-location\">Canada<\/span> Emergency Wage Subsidy and the <span class=\"xn-location\">Canada<\/span> Emergency Rent Subsidy programs introduced by the Federal Government in response to the ongoing COVID-19 pandemic.<\/p>\n<p>Company-owned stores and product related expenses for the Quarter were <span class=\"xn-money\">$2,514,000<\/span> (2020 &#8211; <span class=\"xn-money\">$2,647,000<\/span>) &#8211; <span class=\"xn-money\">$1,158,000<\/span> is attributable to Hemisphere (2020 &#8211; <span class=\"xn-money\">$33,000<\/span>) and <span class=\"xn-money\">$1,356,000<\/span> (2020 &#8211; <span class=\"xn-money\">$2,614,000<\/span>) attributable to Bridgehead.\u00a0 For the Quarter, Bridgehead applied for <span class=\"xn-money\">$495,000<\/span> and <span class=\"xn-money\">$412,000<\/span> in subsidies provided by the CEWS and CERS government programs, respectively.\u00a0\u00a0<\/p>\n<p>General and administrative expenses were <span class=\"xn-money\">$608,000<\/span> (2020 &#8211; <span class=\"xn-money\">$653,000<\/span>) for the Quarter, of which <span class=\"xn-money\">$186,000<\/span> attributable to Bridgehead and <span class=\"xn-money\">$422,000<\/span> is attributable to Aegis. The decrease of <span class=\"xn-money\">$45,000<\/span> is primarily due to a reduction in remuneration.<\/p>\n<p>Depreciation and amortization expense was <span class=\"xn-money\">$757,000<\/span> (2020 &#8211; <span class=\"xn-money\">$616,000<\/span>), of which <span class=\"xn-money\">$216,000<\/span> is attributable to Hemisphere, <span class=\"xn-money\">$531,000<\/span> attributable to Bridgehead and <span class=\"xn-money\">$9,000<\/span> is attributable to Aegis Corporate. Total amortization of right-of-use assets was <span class=\"xn-money\">$499,000<\/span> and the amortization on fixed and intangible assets came to <span class=\"xn-money\">$258,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>EBITDA <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>EBITDA for the Quarter from continuing operations was <span class=\"xn-money\">$170,000<\/span> compared with EBITDA loss of <span class=\"xn-money\">$443,000<\/span> last year.\u00a0 Adjusted for asset impairment charges of <span class=\"xn-money\">$364,000<\/span> last year (2021 &#8211; $nil), EBITDA loss for last year was <span class=\"xn-money\">$79,000<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Interest and Financing Costs<br \/><\/i><br \/>\n        <\/b>The Company reported net interest and financing costs of <span class=\"xn-money\">$180,000<\/span> from continuing operations. This is composed primarily of interest expense recorded on the Company&#8217;s lease payments for right-of-use assets recognized in accordance with IFRS 16.<\/p>\n<p>\n        <b><br \/>\n          <i>Net loss<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>The Company reported a net loss from continuing operations for the Quarter of <span class=\"xn-money\">$661,000<\/span> or <span class=\"xn-money\">$0.03<\/span> per share compared with <span class=\"xn-money\">$824,000<\/span> or <span class=\"xn-money\">$0.04<\/span> per share last year.\u00a0 Total net loss and comprehensive loss came to <span class=\"xn-money\">$1,801,000<\/span> or <span class=\"xn-money\">$0.08<\/span> per share compared with <span class=\"xn-money\">$2,897,000<\/span> or <span class=\"xn-money\">$0.13<\/span> per share last year. <\/p>\n<p>Reconciliations of net income (loss) to EBITDA, adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are provided in the section &#8220;Definitions and Discussion of Certain non-IFRS Financial Measures&#8221;.<\/p>\n<p>\n        <b>DEFINITIONS AND DISCUSSION ON CERTAIN NON-GAAP FINANCIAL MEASURES<\/b>\n      <\/p>\n<p>In this MD&amp;A, the Company reports certain non-GAAP financial measures such as system sales of caf\u00e9s and stores, same caf\u00e9 and store sales, operating income (loss), EBITDA, adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share.\u00a0 Non-GAAP measures are not defined under IFRS and are not necessarily comparable to similarly titled measures reported by other issuers.<\/p>\n<p>\n        <b><br \/>\n          <i>System sales of caf\u00e9s and stores<br \/><\/i><br \/>\n        <\/b>System sales of caf\u00e9s and stores comprise the Gross Revenue from Company-operated caf\u00e9s and retail cannabis dispensaries.<\/p>\n<p>\n        <b><br \/>\n          <i>Same caf\u00e9 and store sales<br \/><\/i><br \/>\n        <\/b>Same caf\u00e9 and store sales represents the percentage change, on average, in retail sales at caf\u00e9s and retail cannabis dispensaries that have been open for more than 12 months.\u00a0 It is one of the key metrics the Company uses to assess its performance and provides a useful comparison between fiscal quarters.\u00a0 The two principal factors that affect this metric are changes in customer traffic and changes in average check (the average dollar amount on a single transaction at the caf\u00e9 or store). For comparison, same caf\u00e9 sales for Bridgehead were measured against sales in the prior year before acquisition by the Company.<\/p>\n<p>\n        <b><br \/>\n          <i>Operating income (loss)<br \/><\/i><br \/>\n        <\/b>Operating income (loss) represents revenue, less cost of goods sold, less operating expenses, and less impairment charges. This measure is not defined under IFRS, although the measure is derived from input figures in accordance with IFRS.\u00a0 Management views this as an indicator of financial performance that excludes costs pertaining to interest and financing, and income taxes.<\/p>\n<p>\n        <b><br \/>\n          <i>EBITDA and adjusted EBITDA<br \/><\/i><br \/>\n        <\/b>EBITDA represents earnings before interest and financing, income taxes, and depreciation and amortization.\u00a0 Adjustments to EBITDA are for items that are not necessarily reflective of the Company&#8217;s underlying operating performance.\u00a0 As there is no generally accepted method of calculating EBITDA, this measure is not necessarily comparable to similarly titled measures reported by other issuers. EBITDA is presented as management believes it is a useful indicator of the Company&#8217;s ability to meet debt service and capital expenditure requirements and evaluate liquidity.\u00a0 Management interprets trends in EBITDA\u00a0as an indicator of relative financial performance. EBITDA should not be considered by an investor as an alternative to net income or cash flows as determined in accordance with IFRS.<\/p>\n<p>\n        <b><br \/>\n          <i>Adjusted net income (loss) and adjusted net income (loss) per share<br \/><\/i><br \/>\n        <\/b>Adjustments to net earnings (loss) and net earnings (loss) per share are for items that are not necessarily reflective of the Company&#8217;s underlying operating performance. These measures are not defined under IFRS, although the measures are derived from input figures in accordance with IFRS.\u00a0 Management views these as indicators of financial performance.<\/p>\n<p>Reconciliations of net income (loss) to operating income (loss) and EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are provided below ($000&#8217;s except per share amounts):<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 27, 2021<sup>1<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,801)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,897)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add (deduct):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss from discontinued operation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,073<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes (recovery)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(106)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(297)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest and financing expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">180<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">62<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating loss, continuing operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(587)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,059)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 27, 2021<sup>1<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,801)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,897)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add (deduct):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss from discontinued operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,073<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income tax recovery<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(106)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(297)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest and financing expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">180<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">62<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">246<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">229<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of right-of-use asset<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">499<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">387<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA, continuing operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">170<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(443)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add impact of the following:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Asset impairment charges\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">364<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA, continuing operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbd prntar prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">170<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(79)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 27, 2021<sup>1<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,801)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,897)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add (deduct) impact of the following:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net loss from discontinued operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,073<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">After-tax asset impairment charges<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">267<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net loss, continuing operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(661)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(557)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 27, 2021<sup>1<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13 weeks ended <br \/>March 28, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.08)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.13)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add (deduct) impact of the following:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net loss from discontinued operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.09<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">After-tax asset impairment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.01<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net loss per share, continuing operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup>\u00a0The Company&#8217;s results in fiscal 2021 reflect the consolidated financial statements of its operating brands including Bridgehead and Hemisphere.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>FORWARD LOOKING STATEMENTS<\/b>\n      <\/p>\n<p>\n        <i>This press release contains forward-looking statements within the meaning of Canadian securities laws. These forward-looking statements contain statements of intent, belief or current expectations of Aegis. Forward-looking information is often, but not always identified by the use of words such as &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;plan&#8221;, &#8220;intend&#8221;, &#8220;forecast&#8221;, &#8220;target&#8221;, &#8220;project&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;should&#8221;, &#8220;could&#8221;, &#8220;estimate&#8221;, &#8220;predict&#8221; or similar words suggesting future outcomes or language suggesting an outlook.<\/i>\n      <\/p>\n<p>\n        <i>The forward-looking statements included in this press release, including statements regarding the earn-out component of the purchase price, the nature of Aegis&#8217; growth strategy going forward and execution on any of its potential plans (including with respect to the growth and development of Bridgehead Coffee and Hemisphere Cannabis and identification of future acquisition targets), and the strength of Aegis&#8217; balance sheet going forward, are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. In respect of the forward-looking statements and information included in this press release, Aegis has provided such in reliance on certain assumptions that it believes are reasonable at this time, including the ability of the Company to manage the risks (economic, operational, financial, and other risks) associated with the COVID-19 pandemic,\u00a0 the ability of the Company to identify new acquisition opportunities and to successfully integrate past and future acquisition targets into the Company&#8217;s business, and the Company&#8217;s ability to generally execute on its strategy going forward. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.<\/i>\n      <\/p>\n<p>\n        <i>Risks and uncertainties that may cause such differences include but are not limited to: risks that the Transaction may have a negative impact on the market price and liquidity of the common shares; risks that no amounts on account of the earn-out may ever be paid; risks related to the Company&#8217;s strategy going forward; risks related to the COVID-19 pandemic; and other risks inherent in the industry in which Aegis operates. <\/i>\n      <\/p>\n<p>\n        <i>When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Aegis&#8217; operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (<\/i><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3159196-1&amp;h=3564296766&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener\">www.sedar.com<\/a><br \/>\n        <i>).<\/i>\n      <\/p>\n<p>\n        <i>The forward-looking statements in this press release are made as of the date it was issued and Aegis does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that outcomes implied by forward-looking statements will not be achieved. Aegis cautions readers not to place undue reliance on these statements.<\/i>\n      <\/p>\n<p>SOURCE  Aegis Brands Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C9600&amp;Transmission_Id=202105110730CANADANWWEB______C9600&amp;DateId=20210511\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire MISSISSAUGA,\u00a0ON, May 11, 2021 \/CNW\/ &#8211; Aegis Brands Inc. (the &#8220;Company&#8221; or &#8220;Aegis Brands&#8221;) (TSX: AEG) today reported financial results for the first quarter ended March 27, 2021. Highlights The sale of Second Cup was consummated on April 23, 2021. Consolidated Net Loss including Second Cup for Q1 was $1,801,000 or $0.08 per share compared with $2,897,000 or $0.13 per share one year ago. Bridgehead&#8217;s Q1 Net Income was $17,000 compared to a Net Loss of $560,000 last year. Hemisphere revenue rose by 38% in Q1 vs the previous quarter. Hemisphere&#8217;s Net Loss was $356,000 in Q1 compared to $1,120,000 in Q4 of 2020. Aegis Brands Inc. The sale of Second Cup Coffee Co. to Foodtastic was completed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Aegis Brands Reports First Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-491053","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aegis Brands Reports First Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aegis Brands Reports First Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire MISSISSAUGA,\u00a0ON, May 11, 2021 \/CNW\/ &#8211; Aegis Brands Inc. (the &#8220;Company&#8221; or &#8220;Aegis Brands&#8221;) (TSX: AEG) today reported financial results for the first quarter ended March 27, 2021. Highlights The sale of Second Cup was consummated on April 23, 2021. Consolidated Net Loss including Second Cup for Q1 was $1,801,000 or $0.08 per share compared with $2,897,000 or $0.13 per share one year ago. Bridgehead&#8217;s Q1 Net Income was $17,000 compared to a Net Loss of $560,000 last year. Hemisphere revenue rose by 38% in Q1 vs the previous quarter. Hemisphere&#8217;s Net Loss was $356,000 in Q1 compared to $1,120,000 in Q4 of 2020. Aegis Brands Inc. The sale of Second Cup Coffee Co. to Foodtastic was completed &hellip; Continue reading &quot;Aegis Brands Reports First Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-11T11:34:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C9600&amp;Transmission_Id=202105110730CANADANWWEB______C9600&amp;DateId=20210511\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Aegis Brands Reports First Quarter Results\",\"datePublished\":\"2021-05-11T11:34:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/\"},\"wordCount\":3017,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C9600&amp;Transmission_Id=202105110730CANADANWWEB______C9600&amp;DateId=20210511\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegis-brands-reports-first-quarter-results\\\/\",\"name\":\"Aegis Brands Reports First Quarter Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/","og_locale":"en_US","og_type":"article","og_title":"Aegis Brands Reports First Quarter Results - Market Newsdesk","og_description":"Canada NewsWire MISSISSAUGA,\u00a0ON, May 11, 2021 \/CNW\/ &#8211; Aegis Brands Inc. (the &#8220;Company&#8221; or &#8220;Aegis Brands&#8221;) (TSX: AEG) today reported financial results for the first quarter ended March 27, 2021. Highlights The sale of Second Cup was consummated on April 23, 2021. Consolidated Net Loss including Second Cup for Q1 was $1,801,000 or $0.08 per share compared with $2,897,000 or $0.13 per share one year ago. Bridgehead&#8217;s Q1 Net Income was $17,000 compared to a Net Loss of $560,000 last year. Hemisphere revenue rose by 38% in Q1 vs the previous quarter. Hemisphere&#8217;s Net Loss was $356,000 in Q1 compared to $1,120,000 in Q4 of 2020. Aegis Brands Inc. The sale of Second Cup Coffee Co. to Foodtastic was completed &hellip; Continue reading \"Aegis Brands Reports First Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-05-11T11:34:28+00:00","og_image":[{"url":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C9600&amp;Transmission_Id=202105110730CANADANWWEB______C9600&amp;DateId=20210511","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"15 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Aegis Brands Reports First Quarter Results","datePublished":"2021-05-11T11:34:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/"},"wordCount":3017,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C9600&amp;Transmission_Id=202105110730CANADANWWEB______C9600&amp;DateId=20210511","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/aegis-brands-reports-first-quarter-results\/","name":"Aegis Brands Reports First Quarter Results - 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