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Chalice Brands Announces New Appointment to Board of Directors

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PORTLAND, Ore., Jan. 18, 2023 (GLOBE NEWSWIRE) — Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) (the “Company” or “Chalice Brands”), a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, is pleased to announce that it has appointed Gary Zipfel to the Company’s Board of Directors (the “Board”), effective immediately.   The Company has also appointed William Simpson as an Advisor to the Board of Chalice Brands.

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Jeff Yapp, CEO of Chalice Brands stated, “We are privileged to welcome back major shareholder Gary Zipfel to our Board of Directors and major shareholder William Simpson as an Advisor. We look forward to benefitting from their many contributions to Chalice Brands. We believe Gary and William’s backgrounds with Chalice Brands will serve to accelerate broad recognition of the Company’s potential.”

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Mr. Zipfel serves as capital partner and board-level advisor for start-up stage companies, providing business planning, strategic direction, and scenario analysis. Mr. Zipfel has worked with companies from a diverse array of industries including cannabis, vertical green space appliances, mountain-home design and construction, commercial real estate, bicycle parts design and manufacturing, digital advertising, jet engine repair, healthcare notification systems, restaurants and breweries. Prior to becoming a start-up investor, Mr. Zipfel spent 15 years in the global financial markets as a technologist and technology leader.

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Mr. Simpson founded Chalice Brands, formerly Chalice Farms in 2014, turning the Company into one of the leading cannabis brands and retail dispensary chains in Oregon. Mr. Simpson leveraged his early experience in the medical marijuana industry to develop innovative manufacturing, sales and marketing practice for the Chalice Brands portfolio and retail platforms. Mr. Simpson formerly had the position of President and Chief Executive Officer of Chalice Brands.

The Company would also like to announce the resignation of Bob McKnight from its Board of Directors, effective immediately.

“On behalf of the Board, I would like to thank Bob for his contributions to Chalice Brands over the years,” commented John Varghese, Executive Chairman. “We wish him the best in his future endeavors.”

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About Chalice Brands

Chalice Brands Ltd. is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 15 owned dispensaries in and around Portland, Oregon. Chalice Brands is committed to developing a dynamic portfolio built around the recognized brands of Chalice Brands, including Chalice Farms, Left Coast Connection, Homegrown Oregon and Cannabliss & Co., with a focus on health and wellness. Visit investors.chalicebrandsltd.com/ for regular updates.

Investor Relations:
John Varghese
Executive Chairman
Chalice Brands Ltd
971-371-2685
ir@chalicebrandsltd.com

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

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Disclaimer: This press release contains “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include but are not limited to general business, economic and competitive uncertainties, regulatory risks, market risks, risks inherent in manufacturing and retail operations such as unforeseen costs and production shutdowns, difficulties in maintaining brand loyalty, and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This press release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.

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