Grown Rogue Reports Fourth Quarter 2021 Results, 30% aEBITDA1 Margin and 24% Sequential Revenue Growth

CANNANNEW REPORT

Positive Net Income of $0.43M, before fair value adjustments Q4 2021 Revenue of $3.76M versus $3.03M in Q3 2021, an increase of 24% Q4 2021 aEBITDA1 margin of 30% ($1.14M), versus 25% ($0.77M) in Q3 2021, an increase of 48% ($0.37M) Michigan operations (through Golden Harvests, LLC) report industry leading gross margin of 72% and aEBITDA1 margin of 52%, before fair value adjustments Top performing Oregon brand in both August and October, according to LeafLink MEDFORD, Ore.–(BUSINESS WIRE)–Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a multi-state cannabis company with operations and assets in Oregon and Michigan, reports unaudited fourth quarter results. All financial information is provided in U.S. dollars unless otherwise indicated. Fourth Quarter 2021 Financial Summary Eighth consecutive quarter, including pro-forma results, of positive aEBITDA1 Revenue of $3.76M compared to $3.03M in the Q3 2021, an increase of 24% Gross margin, before fair value adjustments, of 62.4% compared to 59.1% in the third quarter, an increase of >300 basis points aEBITDA margin of 30.4% ($1.14M) compared to 25.5% ($0.77M) in Q3 2021, an increase of 48% ($0.37M) Operating income, before fair value adjustments, of $0.73M compared to $0.26M in the Q3 2021, an increase of 177% Operating margin of 19.5% compared to 8.7% in the third quarter, an increase of >1000 basis points compared to Q3 2021 Net income, before fair value adjustments, of $0.43M Working capital of $2.94M compared to $1.85M in Q3 2021 Net assets (excluding intangibles and goodwill) of $6.82M compared to $5.55M in Q3 2021 Subsequent to quarter-end, Grown Rogue closed a private placement for gross proceeds of $1.3M USD including $0.3M from the Company’s chief executive officer, Obie Strickler “Grown Rogue continues to execute on our growth plan, increasing revenue by 24% and aEBITDA by 48% sequentially. The…

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