Vaughan, Ontario--(Newsfile Corp. - July 25, 2024) - Delota Corp. (CSE: NIC) (FSE: S62) ("Delota" or the "Company"), a leading Canadian omni-channel retailer of nicotine vape and alternative tobacco products, is pleased to announce that the Company's flagship brand, 180 Smoke Vape Store ("180 Smoke"), has opened a new retail location in Parry Sound to expand the Company's retail footprint to a total of 30 locations across Ontario. Based on this footprint, 180 Smoke is the largest omni-channel specialty vape retailer in Ontario.
As part of Delota's defined expansion plan, the Company is planning on opening two to three new stores per quarter in Ontario and looking at strategic M&A opportunities to quickly scale the business in other provinces across Canada, prioritizing British Columbia as an entry point to the west coast.
In Ontario, Delota is focusing 180 Smoke's expansion initiatives into smaller, less saturated markets with the goal of reducing operating costs while increasing market share and brand recognition into new cities. This model has been demonstrated by the opening of retail locations in Collingwood, Owen Sound and Parry Sound as 180 Smoke expands outside of the Greater Toronto Area. These stores require lower initial capital expenditures and ongoing overhead, including rent, enabling the Company to maximize its partnership shop-in-shop revenue to drive margin expansion.
Expanding into markets where 180 Smoke does not have an existing presence will capture new customers and increase its e-commerce exposure across 180 Smoke's omni-channel platform that currently has over 235,000 loyalty members. The Company is also focused on driving additional revenue by monetizing its age-gated customer list through direct advertising and affiliate marketing.
Cameron Wickham, CEO of Delota, commented, "Expanding our retail footprint throughout Ontario is our immediate priority as we have the infrastructure in place to efficiently support this expansion while also continuing to drive our industry leading Search Engine Optimization (SEO) efforts to increase online sales. We will continue to evaluate new locations as we aggressively pursue this growth plan, while also evaluating and considering strategic acquisition opportunities. With the investments we have made in our platform and infrastructure and as we continue to scale and expand our footprint, there will be meaningful topline revenue and bottom-line EBITDA growth."
About Delota Corp.
Delota is the largest omni-channel specialty vape retailer in Ontario with a mission of becoming the largest national specialty retailer of nicotine vape and alternative tobacco products. The Company's growth strategy includes aggressively growing its flagship brand, 180 Smoke Vape Store, by expanding its retail footprint organically in Ontario and select provinces across Canada, strengthening its national e-commerce platform, and through strategic M&A to accelerate growth and market consolidation. The Company is committed to expanding its nicotine product assortment, enhancing customer experience, and growing its loyalty accounts, which now exceeds 235,000 members.
Investors interested in learning more about Delota can visit www.delota.com.
For further information, please contact:
Delota Corp.
Julia Becker
Capital Markets
T: (604) 785-0850
E: ir@delota.com
Cameron Wickham
Executive Vice Chair and CEO
T: (905) 330-1602
E: info@delota.com
Cautionary Statements
This press release contains "forward-looking statements or information". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include statements made regarding information about future plans, expectations and objectives of the Company overall.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the availability of future financing and/or credit, developments and changes in laws and regulations, consumer sentiment towards the Company's products, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology and social changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Delota Corp.
