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TORONTO, November 7, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV:MIMI OTCQB:MIMNF) (the “Company“), an online dietary supplement and wellness company, announces its third quarter results for the three months ended September 30, 2022.

David Kohler, CEO, commented: “We are pleased the strategies  undertaken continue to drive such strong results. Q3 was 19% better in Y-O-Y revenue and we achieved over a 500% lift in adjusted EBITDA over 2021.”  In addition, “Margins are up, SG&A has declined, which combined with our revenue growth,  are all great trends. We are excited to have stacked our third consecutive quarter of growth and positive earnings.”

Third Quarter Highlights

The third quarter of 2022 reflected the continued uptrend, with both revenue and Adjusted EBITDA at levels not recorded since the first half of 2020.

Revenues in Q3 of 2022 were $10.2 million, compared to $8.6 million in Q3 2021, an increase of 18.6% over the prior year period.

EBITDA for Q3 2022 was $0.7 million, compared to $0.1 million in Q3 2021. As foreign exchange movements late in the quarter had an impact, Adjusted EBITDA, which adds back foreign exchange losses and non-cash stock-based compensation, was $1.2 million for Q3 of 2022, compared to just $0.2 million in the same period last year.

Third quarter 2022 performance also improved over the second quarter, resulting in the Company’s best quarterly performance in the last two years and second-best quarterly earnings since inception. 

Revenues were similarly strong over the last two quarters for the Company’s DTI business, as price increases and lower overall discounting resulted in considerable increases in the top line figure.  Revenues in the 2022 period were also achieved with higher overall average prices, thus gross margin was higher as the Company focused on increasing average revenue per unit by limiting the amount of promotional discounting.

The Company’s skin care businesses saw considerable improvement in top line sales during Q3 2022. Revenues from the skincare business in the current period were much improved over same period last year due to a strong Prime Day sales event in July.   

Gross margin for Q3 of 2022 was significantly improved at $7.8 million (76.0%) compared to $5.9 million (68.1%) for Q3 of 2021.

Online advertising in the period remained higher than historical levels mainly as a function of ongoing campaigns which have shown to drive higher volumes.  Advertising spend in the third quarter of 2022 was focused on key promotional days, including Amazon Prime Day in July, as well as towards driving efficiency and spend on top products.  Short term promotions and a focus on variations of core products have enabled the business to maintain momentum.  

 

General and administrative expenses were slightly higher in the current period compared to the same period last year due to approximately $0.2 million in one-time non-recurring costs in Q3 2022.  Excluding these one-time costs, Adjusted EBITDA for Q3 2022 would have otherwise been $1.4 million.  Despite the higher expenses in the current quarter, general and administrative expenses are lower for the year-to-date 2022 period when compared to the same period in 2021.

Unusually high foreign exchange losses, mostly unrealized at period end, contributed to a net loss of $0.1 million for Q3 of 2022 compared to a net loss of $0.3 million, compared to a net loss of $0.3 million for Q3 of 2021.

Summary of Quarterly Results

(in 000’s)

Q3 2022

Q2 2022

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Revenue

10,224

10,032

9,541

8,550

8,614

9,744

9,758

 9,134

EBITDA1

667

1,092

550

(4,782)

59

1,101

149

756

Adjusted EBITDA

1,166

1,146

541

(462)

218

1,126

212

603

Net Income

(56)

340

161

(5,027)

(259)

502

(233)

  523

 

EBITDA1 – Non-IFRS Financial Measures – see definition under “Overall Performance”

Conference Call

A conference call to discuss the financial results of the Company will be held on Tuesday, November 8 at 11:00 a.m. To participate in the conference call, please dial the number below and request to join the Mimi’s Rock Corp. financial results call:

Canada/USA TF: 1-800-319-4610

International Toll: +1-604-638-5340

Copies of the Company’s financial statements and management’s discussion and analysis can be obtained under the Company’s disclosure page on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Statements

This news release contains forward-looking statements and forward looking information (collectively “Forward-Looking Statements“) within the meaning of applicable securities laws. Often, but not always, Forward-Looking Statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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.

Please refer to the 2021 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All Forward-Looking Statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these Forward-Looking Statements. All of the Company’s Forward-Looking Statements are qualified by the assumptions that are stated or inherent in such Forward-Looking Statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the Forward-Looking Statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-Looking Statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Statements 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 Statements. All Forward-Looking Statements contained in this press release are given as of the date hereof and are based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any Forward Looking Statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

SOURCE Mimi’s Rock Corp.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTO, June 30, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) is pleased to announce the revocation of the previously announced failure-to-file cease trade order (the “FFCTO“) issued by the Ontario Securities Commission on May 6, 2022 as a result of the Company’s delay in filing its audited annual financial statements for the fiscal year ended December 31, 2021 and the related management’s discussion and analysis, and officer certifications for the same period (collectively, the “Required Filings“).

The Company filed the Required Filings on June 27, 2022. The Company has also filed its interim financial statements for the first quarter of 2022 on June 27, 2022.

A conference call to discuss the financial results of the Company will be held on Tuesday, July 5 at 11:00 a.m. To participate in the conference call, please dial the number below and request to join the Mimi’s Rock Corp. financial results call:

Canada/USA TF: 1-800-319-4610

International Toll: +1-604-638-5340

Copies of the Company’s financial statements and management’s discussion and analysis can be obtained under the Company’s disclosure page on SEDAR at www.sedar.com.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTO, June 27, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) an online dietary supplement and wellness company, today announced the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis, and officer certifications (collectively, the “Year End Filings“).

The Company also announced its first quarter financial results for the period ending March 31, 2022 (the “Q1 Financials“). With respect to the 2022 first quarter:

Management has actively monitored volumes, supply chain constraints and pricing pressure, and has been pro-active in taking steps to improve our gross margins, with a significant improvement that translated not only into improved EBITDA, but also positive net earnings.” commented CEO, David Kohler. “Importantly, the business at this scale and with our newly implemented measures is generating positive cash flow from operations.”

First Quarter Highlights

The first quarter of 2022 showed significant improvement in both gross margin and earnings.

Revenues in Q1 of 2022 were $9.5 million, compared to $9.8 million in the same period last year.  

In market revenues for the Dr. Tobias supplements business were stronger in Q1 of 2022 compared to the same period in 2021. However, the Company’s skincare businesses revenues were lower compared to the same period last year due to considerable discounting in 2021, which drove top line revenue at the expense of margin.  While overall revenues were lower in Q1 of 2022, gross margin was higher compared to Q1 of 2021 as a focus on pricing and limited promotional pricing increased product profitability. 

Gross margin for Q1 of 2022 was $6.9 million (72.7%) compared to $6.7 million (68.6%) for Q1 of 2021.

Online advertising in Q1 of 2022 was considerably higher compared to the same period in 2021. This was primarily attributable to higher advertising spend on the primary Amazon market platforms and also considerable promotional efforts on other search and social media platforms designed to increase overall awareness.  Investments were also made to establish sales listings on major sites in certain foreign markets. 

EBITDA for Q1 of 2022 was $0.5 million, compared to $0.1 million Q1 of 2021. Similarly, Adjusted EBITDA, which adds back non-cash stock-based compensation and foreign exchange losses was $0.5 million for Q1 of 2022, compared to Adjusted EBITDA of $0.2 million for Q1 of 2021.

Net income for Q1 of 2022 was $0.2 million, compared to a net loss of $0.2 million for Q1 of 2021.

2021 Year End Audited Results

As previously announced, the Company’s year end audit process, and the associated filing of the Year End Filings, was delayed due to challenges associated with auditing inventories at third party warehouses.  There was no material impact to the Year End Filings as a result of this delay.

The Company’s performance in Q4 of 2021 was not as strong as originally projected due in part to a change in the Company’s advertising partners in October of last year.  Beginning mid-Q4 of 2021, the Company began to see increased momentum and volumes in its supplements business. However, as a result of a change in market conditions for its skincare businesses, the Company recognized a goodwill impairment loss of approximately $4.2 million in Q4 of 2021.  For the year ended December 31, 2021, the Company incurred a net loss of $5.0 million, compared to a net income of $2.3 million for the year ended December 31, 2020. 

Following the filing of the Year End Filings, the Company has initiated steps to seek revocation of the failure to file cease trade order (the “CTO“) issued against the Company by the Ontario Securities Commission on May 2, 2022. The CTO orders that general trading, whether direct or indirect, of the securities of the Company cease. The Company expects this to occur within a week of filing the Year End Filings and the Q1 Financials. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. 

Summary of Quarterly Results

(in 000’s)

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Revenue

9,541

8,550

8,614

9,744

9,758

 9,134

9,774

10,943

EBITDA1

550

(4,782)

59

1,101

149

756

1,243

1,584

Adjusted EBITDA

541

(462)

218

1,126

212

603

1,166

1,573

Net Income

161

(5,027)

(259)

502

(233)

523

546

928

 Conference Call

Management expects to announce a conference call promptly after the CTO is revoked.  At that time, financial results set out in the Q1 Financials and the Year End Filings will be discussed and questions will be taken.  Details of such conference call will be communicated once available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTO, June 21, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) announced today that it is in the final stages of its year end audit and expects to complete the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis, and officer certifications (collectively, the “Required Filings“) imminently.

The Company remains under a failure to file cease trade order against the Company (“CTO“) by the Ontario Securities Commission (the “OSC“) which orders that general trading, whether direct or indirect, of the securities of the Company cease.  The Company does not expect an interruption of the operations of the Company during the CTO.

The Company’s year end audit process was delayed due to challenges with auditing inventories at third party warehouses. Management believes completion of its 2021 year end audit is imminent, with its Required Filings to be made as soon as possible thereafter.  Revocation of the CTO is expected to occur within a few days after the Required Filings are made. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. 

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTO, June 6, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) announced today that it expects to complete the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis, and officer certifications (collectively, the “Required Filings“) within the next few days.

The Company remains under a failure to file cease trade order against the Company (“CTO“) by the Ontario Securities Commission (the “OSC“) which orders that general trading, whether direct or indirect, of the securities of the Company cease.  The Company does not expect an interruption of the operations of the Company during the CTO.

Despite its efforts, the Company was not able to complete its year end audit process before the deadline of May 2, 2022, primarily due to unique challenges with auditing inventories at third party warehouses. Management anticipates completion of the audit within days with its Required Filings to be made shortly thereafter.  Revocation of the CTO is expected to occur within a few days after the Required Filings are made. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. 

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTOMay 24, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) announced today that it is close to finalization of work necessary to complete the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis, and officer certifications (collectively, the “Required Filings“) which were due to be filed on May 2, 2022 (the “Filing Deadline“).   

The Company remains under a failure to file cease trade order against the Company (“CTO“) by the Ontario Securities Commission (the “OSC“) which orders that general trading, whether direct or indirect, of the securities of the Company cease.  The Company does not expect an interruption of the operations of the Company during the CTO.

The Company continues to have a target date to make the Required Filings on or before May 27, 2022, however, circumstances beyond the Company’s control may require that the filings be made several days later, the week of May 30.  Revocation of the CTO is expected to occur within a few days after the Required Filings are made. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. 

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTOMay 2, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) continues to work diligently to complete the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis, and officer certifications (collectively, the “Required Filings“) which were due to be filed on May 2, 2022 (the “Filing Deadline“).     

The Company confirms that the Ontario Securities Commission (the “OSC“) has issued a failure to file cease trade order against the Company (“CTO“) which orders that general trading, whether direct or indirect, of the securities of the Company cease. A copy of the CTO has been posted to the OSC website.

Despite the CTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company may sell securities of the Company acquired before the date of the CTO if: (a) the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company’s securities are urged to consult with their own investment advisors or legal counsel about the implications of the CTO.

The Company does not expect an interruption of the operations of the Company during the CTO.

The Company anticipates that it will complete the Required Filings on or before May 27, 2022. Revocation of the CTO is expected to occur within a few days after the Required Filings are made. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. 

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTOMay 2, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) announced today that it will not be in a position to file its annual audited financial statements for the year ended December 31, 2021 and its related management’s discussion and analysis and officer certifications (collectively, the “Required Filings“) by today’s prescribed filing deadline of May 2, 2022 (the “Filing Deadline“).   

Despite its efforts, the Company has not been able to complete its year end audit process, primarily due to ongoing challenges with auditing certain aspects of the Company’s third party inventories, as well as staffing issues related to Covid.  Due to these challenges, the auditors of the Company are not able to complete the audit by the Filing Deadline.  During the process of completing the year end, the Company encountered certain novel and unanticipated audit issues relating to the physical observation of inventory at facilities used by third party e-commerce marketplaces.  These issues are ones faced by a number of e-commerce retailers concerning similar inventory assurance matters. These issues are in the process of being resolved but will cause the filing date to be beyond the Filing Deadline.  These challenges are assurance related and do not impact financial results.

Management does not expect the issues described above to impact the financial reporting for Q1 2022.  The Company will submit the Required Filings as soon as possible and anticipates doing so not later than May 27, 2022.

The Company recognizes that this delay may result in the issuance of a failure to file cease trade order against the Company.  In the event this occurs, the Company will issue further press release(s) with additional information.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTOMarch 15, 2022 /CNW/ – Mimi’s Rock Corp., (the “Company“) (TSXV: MIMI) (OTCQB: MIMNF) announced today the official launch on Tmall and first sales in China of Dr. Tobias products, including the brand’s best-selling Colon 14-Day Cleanse, Deep Immune, Liver Cleanse and Apple Cider Vinegar Gummies.  The Company’s products are now being purchased directly by Chinese consumers.

After many months of collaboration with their counterparts in China, Mimi’s Rock successfully launched its storefront on Tmall, China’s largest eCommerce platform. Tmall (more formally, Taobao Mall) is Alibaba’s dedicated B2C platform with over 500 million buyers, 50,000 merchants, and which boasts 70,000 brands. As the largest retail site in Asia, Mimi’s Rock and its company of brands can now sell directly to hundreds of millions of customers throughout China.

“Expanding the portals and geographies for the Mimi’s Rock family of brands has been a top priority for us, as we look to other markets to augment our continued success selling on Amazon.  This move to Tmall is the right choice for our brands and gives us access to the largest market in the world,” said David Kohler, CEO of Mimi’s Rock. “After spending months navigating the regulatory framework, we are now pleased to report that our products are flowing to consumers.  In fact, we are already placing inventory replenishment orders, as the launch has been better than we anticipated.  We look forward to following shortly with our skin care lines as well.”

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Toronto, ON – February 23, 2022 – Mimi’s Rock Corp., (the “Company”) (TSXV: MIMI) (OTCQB: MIMNF) is pleased to announce its top selling supplements brand, Dr. Tobias, is expanding its product selection with Digestive Enzymes with Prebiotics & Probiotics to support gut health developed to meet growing market demand in the digestive health space.

Dr. Tobias has formulated an amazing 4 in 1 supplement to help optimize gut health. Dr. Tobias Digestive Enzymes with Probiotics and Prebiotics to help process difficult-to-digest food and offers relief from bloating, post-meal gas, and digestive discomfort. This combination of enzymes, pro, pre, and postbiotics supports nutrient absorption while reducing digestive inflammation and irritation. This in turn helps boost the body’s defense, recovery, and immune system functions.

“Our goal is to provide customers with top products to help maintain both healthy gut and immune systems from the Dr. Tobias brand. We are focused on delivering the high-quality products that our customers seek and providing premium supplements, as more people look to improve their health and wellness,” said Dave Kohler, CEO of Mimi’s Rock.

The Company is hosting an Instagram Live event where participants can learn more about how to maintain a healthy gut and incorporating vitamins and supplements into a healthy lifestyle.  Join members of our team for the Dr. Tobias Healthier Version of You event on Instagram Live Today @ 12:00p.m. EST @Drtobiashealth.

When a digestive system is not functioning optimally, it can limit the production of digestive enzymes which keep a gut healthy. Millions of Americans suffer from autoimmune issues which may stem from a faulty gut. When gut health is compromised it can affect the immune system which accounts for about eighty per cent of the body’s immune defense.

Digestive enzymes with pre- and probiotics are formulated to help women and men find relief from occasional bloating, gas, and discomfort. The product is designed to replenish the digestive enzymes that may decline with age and helps tackle hard to digest foods while supporting the gastrointestinal tract.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 
 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Toronto, ON – January 25, 2022 – Mimi’s Rock Corp., (the “Company”) (TSXV: MIMI) (OTCQB: MIMNF) is pleased to announce its top selling supplements brand, Dr. Tobias, is expanding its Canadian product selections with Dr. Tobias Vitamin D3 and Dr. Tobias Apple Cider Vinegar Gummies.

Dr. Tobias health supplements, including Dr. Tobias Omega 3 Fish Oil, Probiotics 30 Billion and Adult Multivitamin, are currently available on Amazon.ca. These products will be joined by Dr. Tobias Vitamin D-3 (to support bone and teeth health) and Dr. Tobias Apple Cider Vinegar (to aid in overall health and digestion). Canadian consumers can now enjoy these popular supplements as part of a healthier living regime.

“Our goal is to provide our Canadian customers with top products from the Dr. Tobias brand. As a Canadian based company, we are focused on delivering high-quality products here in Canada and internationally. We are happy to fill the demand for premium supplements as more people look to improve their health and wellness,” said Dave Kohler, CEO of Mimi’s Rock.

To learn more about how to incorporate vitamins and supplements into a healthy lifestyle, join members of our team and special guest Caleigh Rykiss (@caleighfit), Canadian Wellness Expert for the Dr. Tobias Healthier Version of You event on Instagram Live Wednesday January 26, 2022 @ 7:00 pm @Drtobiashealth.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO,

905-330-5081

Dkohler@mimisrock.com

 

 

 

Forward-Looking Statements

 This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

 Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 Please visit www.mimisrock.com  or www.sedar.com  for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TORONTO, December 2, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“),

) today announced its plan to expand into the Middle East through a new partnership with UltraPharma, a licensed pharmaceutical distribution company located in Dubai, United Arab Emirates reaching more consumers with top brands Dr. Tobias health supplements and skin care All Natural Advice and Maritime Naturals.

UltraPharma’s multichannel marketing and distribution network enables customers in the Middle East to access and purchase a wide range of products offered by Mimi’s Rock. In the past decade, the Middle Eastern market demonstrated strong growth in health-conscious consumers who are looking for high quality, authentic vitamins, supplements and beauty products. UltraPharma has over 25 years of experience in the UAE and are renowned for using tailored content that speaks the language of Mimi’s Rock audience. Through UltraPharma’s relationship with top eCommerce channels – Amazon, Noon, Mumzworld and FITAMINAT – Mimi’s Rock’s inventory will immediately reach a wide audience in preparation for 2022 goals.

Mimi’s Rock’s first shipment of Dr. Tobias health supplements will reach the United Emirates in time for holiday shopping and will be sold online through multiple marketplaces at the onset to meet the demands of shoppers across the country. Followed by All Natural Advice and Maritime Naturals to be available by the new year.

“Expanding Mimi’s Rock proprietary supplement, nutraceutical and beauty care product brands into new markets is a top strategic priority,” said David Kohler, Chief Executive Officer at Mimi’s Rock. “We are confident our brands are well positioned to meet consumer demands in the United Arab Emirates. With top rated health supplements and beauty care products, we look forward to introducing them to top quality products for which Mimi’s Rock brands are known.”

Mimi’s Rock’s mission is to help people be the best version of themselves and expansion into markets such as China will support the health and wellness of people everywhere.

About UltraPharma: 

UltraPharma is a Ministry of Health licensed pharmaceutical distribution company located in Dubai, United Arab Emirates. UltraPharma’s journey began in 1996 in Abu Dhabi as UltraMed; specializing in distribution of medical consumables and safety products for hospitals, laboratories and blood banks. In 2012, UltraMed expanded its operation to reach the wider Middle Eastern market through the inception of UltraPharma in Dubai. In 2019, UltraPharma launched its eCommerce site FITAMINAT, which offers high quality health and beauty products and over two dozen brands – including Sambucol, Biolgan, and Haliborange.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Bill Mitoulas – Investor Relations
416-479-9547
billm@venturenorthcapital.com

SOURCE Mimi’s Rock Corp.

TORONTO, December 1, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), is pleased to announce the closing of its $1.5 million non-brokered private placement of subordinated secured debentures (the “Placement”).

Placement of Subordinated Secured Debentures

The Company announces today that it has closed its non-brokered private placement of $1.5 million of subordinated secured debentures (the “Debentures”) consisting of $10,000 principal amount per Debenture (the “Principal Amount”). The Debentures will mature on November 24, 2023 (the “Maturity Date”) and will bear a 10.0% p.a. total cash yield, consisting of an 8.0% p.a., payable quarterly and an annual maintenance fee of 2%, paid annually in advance.

In connection with the Placement, subscribers were granted 3,571 common shares of the Company (each, a “Bonus Share”) for each $10,000 of Principal Amount of Debentures or 560,706 Bonus Shares in the aggregate.

Proceeds of the Placement are expected to be used by the Company for working capital and general corporate purposes.

In connection with the Placement, the Company paid a cash commission equal to up to 5% of the gross proceeds from the sale of Debentures (the “Cash Fee”) sold pursuant to the Placement (other than in respect of proceeds from sales to persons on a “president’s list”, in respect of which no fee was paid), or $66,000 in the aggregate, and such number of non-transferrable compensation warrants (the “Compensation Warrants”) as is equal to 5% of the gross proceeds from the sale of Debentures sold pursuant to the Placement (other than in respect of proceeds from sales to persons on a “president’s list”, in respect of which no fee was paid) divided by  $0.28, or 66,000 Compensation Warrants in the aggregate. Each Compensation Warrant entitles the holder thereof to purchase one common share of the Company at $0.50 per share until November 24, 2022.

The securities issued in connection with the Placement are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation.

In connection with the Placement, the Company issued an aggregate $150,000 principal amount of Debentures and 53,571 Common Shares to affiliates of Hueniken Asset Management Inc. (“Hueniken”). The issuance of such securities to Hueniken, an insider of the Company (as defined under applicable securities laws), constitutes a “related party transaction” within the meaning of Policy 5.9 – Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange (“TSXV”) and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the formal valuation requirement in section 5.5(b) of MI 61-101 (as a result of its Common Shares being listed on the TSXV) and the exemption from the minority approval requirement in section 5.7(1)(b) of MI 61-101 (as neither the fair market value of the securities distributed to Hueniken pursuant to the Placement, nor the consideration paid by Hueniken exceeded $2,500,000).

 About the Company

Mimi’s Rock Corp. (formerly Commerce Acquisition Corp.) is an online dietary supplement and wellness company operating under the Dr. Tobias brand. The brand features over 30 products including the top selling colon cleansing product and the #1 selling Omega 3 Fish Oil on Amazon.com. The Company currently serves customers in the United States and has rapid growth plans to expand into other markets.

For more information, visit mimisrock.com or contact:

Telfer Hanson

(416) 230-3003
info@mimisrock.com

Forward Looking Statements

This news release may contain forward-looking statements or “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, internal and external factors disclosed in the most recent annual information form of the Company and other documents publicly filed by the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Bill Mitoulas – Investor Relations
416-479-9547
billm@venturenorthcapital.com

SOURCE Mimi’s Rock Corp.

TORONTO, November 26, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), an online dietary supplement and wellness company, today announced its third quarter financial results for the period ending September 30, 2021.

Our 2021 third quarter saw top line revenues coming in lower than expected due to continued foreign exchange headwinds and some supply chain challenges.” commented CEO, David Kohler. “Fortunately, our unit volumes continue to remain strong and we are seeing good returns so far from our new advertising partnership with Teikametrics.  We have solved the supply chain challenges and are anticipating a stronger Q4 as a result.”

Third Quarter Highlights

Revenues in Q3 2021 were $8.6 million, compared to $9.8 million in the same period last year.  

Third quarter 2021 revenues were impacted by product availability issues as well as a comparatively lower US dollar relative to the same period a year ago.  While in-market revenues were softer, the impact to reported revenue of the lower US dollar in Q3 2021 was approximately $0.4 million compared to the same period in Q3 2020.  Over the nine months this year, the lower US dollar has impacted revenue by almost $1.9 million compared to 2020.

The Company’s skin care businesses continued to perform well in the third quarter of 2021.  Though gross revenues were not as high as in the first two quarters of 2021, total margins remained consistent as lower discounting was applied, resulting in overall higher average selling prices.

Margins remain above 70% for the year and are expected to improve slightly due to modest price increases on key products.  Volumes have remained constant or improved in most products compared to the same period a year ago.  

Gross margin for Q3 2021 was $5.9 million, compared to $6.9 million, in the same period a year ago. 

Advertising spend in Q3 2021 included spend on both legacy campaigns as well as new initiatives in connection with the Company’s new advertising partner.  Early indications are positive and sales performance has begun to improve as the various campaigns roll out.

EBITDA for the three months ended September 30, 2021 was $0.1 million, compared to $1.3 million for the three months ended September 30, 2020.

Similarly, Adjusted EBITDA, which adds back non-cash stock-based compensation and foreign exchange losses was $0.2 million for Q3 2021, compared to Adjusted EBITDA of $1.2 million for Q3 2020.

Net loss for Q3 2021 was $0.3 million, compared to net income of $0.5 million for Q3 2020.

Summary of Quarterly Results

(in 000’s)

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Revenue

8,614

9,744

9,758

 9,134

9,774

10,943

10,435

 7,717

EBITDA1

59

1,101

149

756

1,243

1,584

1,099

 (1,356)

Adjusted EBITDA

218

1,126

212

603

1,166

1,573

1,228

 (1,220)

Net Income

(259)

502

(233)

523

546

928

282

(2,460)

Conference Call

Management will host a conference call tomorrow to discuss these results and take questions from investors. Details are as follows:

Date:    Tuesday, November 30, 2021

Time:   2:00pm Eastern Time

Dial-in: 1-800 319 4610 or

            1-604 638 5357

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Bill Mitoulas – Investor Relations
416-479-9547
billm@venturenorthcapital.com

SOURCE Mimi’s Rock Corp.

TORONTO, November 03, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), announced today a new partnership with Teikametrics, a SaaS based company to optimize and better connect with customers across Amazon and Walmart marketplaces.

Teikametrics’ company software utilizes artificial intelligence to set and adjust bids based on individual goals for each product in a brand’s catalog. To keep up with the changing dynamics of online marketplaces, the software also finds and targets new high-performing keywords in each marketplace, and layers on competitive intelligence so brands know where they rank versus their competitors on key search pages.

“With three best-selling brands on Amazon and expansion into Walmart online, it’s imperative we have the best technology and analytics available to help us reach more consumers with our top products”, said David Kohler, CEO of Mimi’s Rock. “We are excited to work with Teikametrics to get our best sellers in front of more interested people so they can benefit from our health and skincare lines.”

“The team at Mimi’s Rock understands that driving growth and staying ahead of the competition within the health and wellness category is about adjusting dynamically to market trends. Teikametrics technology and services are designed to do just that,” said Chris Gika, Senior Director of Sales at Teikametrics  “We’re excited to help Mimi’s Rock brands reach new heights across Amazon and Walmart.”

Mimi’s Rock’s mission is to help people be the best version of themselves and this partnership with Teikametrics will support the health and wellness of people everywhere.

About Teikametrics :

Teikametrics’ (www.teikametrics.com) AI-powered Marketplace Optimization Platform helps sellers and brand owners maximize their potential on the world’s most valuable marketplaces. Founded in 2015, Teikametrics uses proprietary AI technology to maximize profitability in a simple SaaS interface. Teikametrics optimizes more than $8 billion in GMV across thousands of sellers around the world, with brands including Munchkin, mDesign, Clarks, Nutribullet, Conair, Nutrafol, and Solo Stove trusting Teikametrics to unlock the full potential of their selling and advertising on Amazon, Walmart, and other marketplaces.

About Mimi’s Rock Corp :

Mimi’s Rock Corp.(www.mimisrock.com) is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Bill Mitoulas – Investor Relations
416-479-9547
billm@venturenorthcapital.com

SOURCE Mimi’s Rock Corp.

TORONTO, September 29, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), an online dietary supplement and wellness company, today announced it has received approval to open a flagship online store in China, with Alibaba’s Tmall Global (“Tmall”), the dominant online platform for cross-border eCommerce in mainland China. Mimi’s Rock continues to execute on its primary strategic mandate of expanding their best-selling brands Dr Tobias and Maritime Naturals to new growth markets and anticipates additional market expansion in the coming months.

Tmall is Alibaba’s dedicated B2C e-commerce platform with over 500 million buyers, 50,000 merchants, boasting 70,000 brands. With a renewed focus on wellness, the health supplements market is on the rise and China is projecting strong retail growth. Mimi’s Rock and its company of brands can now sell directly to millions of customers throughout China, introducing products like Dr Tobias’ #1 selling Omega 3 Fish Oil (on Amazon.com), Colon 14-Day Cleanse and Maritime Naturals Retinol Moisturizer. These brands are an ideal fit for this growing
market.

“Expanding Mimi’s Rock proprietary supplement, nutraceutical and beauty care product brands into new markets has been one of our top strategic priorities. We have evidence we can be successful in selling our products on Amazon and believe we can replicate that success via other major online marketplaces like Tmall,”
stated David Kohler, CEO of Mimi’s Rock. “We are confident our brands are well positioned to meet Chinese consumers’ growing interest in top rated health supplements and beauty care products, and we look forward to introducing the millions of Chinese consumers to the quality for which Mimi’s Rock brands are known.”

Mimi’s Rock’s mission is to help people be the best version of themselves and expansion into markets such as China will support the health and wellness of people everywhere.

About Mimi’s Rock Corp.:
Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr Tobias, All Natural Advice and Maritime Naturals brand names. The Dr Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under
the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Bill Mitoulas – Investor Relations
416-479-9547
billm@venturenorthcapital.com

SOURCE Mimi’s Rock Corp.

Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

TORONTO, September 10, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), an online dietary supplement and wellness company, today announced the appointment of Anita Booth, as Senior Director of Marketing, a role responsible to position the company’s beauty and wellness brands Dr Tobias, All Natural Advice and Maritime Naturals, for accelerated growth.

“Mimi’s Rock is pleased to add Anita to our team to accelerate our growth across multiple online channels.  Her experience in SEO (Search Engine Optimization) will be a great catalyst of our strategies and growth initiatives.  She is a recognized thought leader in the space and has written extensively on the subject.  Mimi’s Rock is focused on providing customers with natural alternatives for beauty and healthcare. Expanding our reach will allow us to meet our customers wherever they are and to continue to drive growth across all digital platforms”, said David Kohler, CEO of Mimi’s Rock.” With the addition of Anita Booth, we will be able to expand our reach and continue to supplement the health and wellness of people everywhere.”

An innovative marketing professional, with a successful career spanning over 20 years in creating marketing strategies and integrated communication plans, Anita has held executive roles in the financial services and health and wellness industries. Her expertise lies in building strong business growth plans, thought leadership positioning and impactful digital marketing strategies to increase brand reputation and profitability.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

TORONTO, August 4, 2021 /CNW/

Mimi’s Rock Corp. (TSXV:MIMI OTCQB:MIMNF) (the “Company“), an online dietary supplement and wellness company, today announced its second quarter financial results for the period ending June 30, 2021.

Our 2021 second quarter was one of our best since the start of the global pandemic, from an in-market performance perspective.” commented CEO, David Kohler. “Our unit volumes were robust, and despite a significant foreign currency exchange headwind, we saw a lift of almost $1 million dollars in EBITDA, versus the prior quarter. This was driven in part by net price increases and the corresponding reduction in COGS (as a percentage of revenue).  We expect this trendline to continue as we move into the back half of the year.”

Second Quarter Highlights

Revenues in Q2 2021 were $9.7 million, compared to $10.9 million in the same period last year.  

Second quarter 2021 revenues were the strongest since the same period a year ago for the Company’s DTI business. On a constant-currency basis, revenues were similar to Q2 2020.  Reported revenues were impacted by the lower US dollar in the period, accounting for most of the difference in total revenue from the prior year period.  

Margin improvements as a result of less discounting compared to Q1 2021, allowed EBITDA to remain strong and considerably up from last quarter. 

The Company’s skin care businesses continued to perform well in the second quarter of 2021.  Though gross revenues were not as high as in the first quarter of 2021, total margins remained consistent as lower discounting was applied, resulting in overall higher average selling prices.

Total sales unit volumes were higher in both the supplements and skincare business in Q2 2021 compared to Q2 2020.

Gross margin for Q2 2021 was $7.2 million, or 74.4%, compared to $7.6 million, or 69.8% in the same period a year ago. 

EBITDA for the three months ended June 30, 2021 was $1.1 million, compared to $1.6 million for the three months ended June 30, 2020.

Similarly, Adjusted EBITDA, which adds back non-cash stock-based compensation and foreign exchange losses was $1.1 million for Q2 2021, compared to Adjusted EBITDA of $1.6 million for Q2 2020.

Net income for Q2 2021 was $0.5 million ($0.01 per share), compared to $0.9 million ($.02 per share) for Q2 2020.

 

Summary of Quarterly Results

(in 000’s)

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Q3 2019

Revenue

9,744

9,758

 9,134

9,774

10,943

10,435

 7,717

 8,755

EBITDA

1,101

149

756

1,243

1,584

1,099

 (1,356)

 627

Adjusted EBITDA

1,126

212

603

1,166

1,573

1,228

 (1,220)

 903

Net Income

502

(233)

523

546

928

282

(2,460)

 (243)

 
Conference Call

Management will host a conference call tomorrow to discuss these results and take questions from investors. Details are as follows:

Date:    Thursday, August 5, 2021

Time:   1:00pm Eastern Time

Dial-in: 1-800 319 4610 or

            1-604 638 5357

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

TORONTO, May 26, 2021 /CNW/ – Mimi’s Rock Corp. (TSXV:MIMI, OTCQB:MIMNF) (the “Company”), an online dietary supplement and wellness company, today announced its financial results for the first quarter ending March 31, 2021.

“Our first quarter was successful in a number of ways,” commented CEO, David Kohler. “ Our unit volumes increased, driven by aggressive advertising campaigns aimed at capitalizing on new customer acquisition during the new year period. This gives us an even stronger foundation on which to build future growth. This uplift didn’t translate into financial growth this quarter, however, as the combination of increased advertising spending, coupled with unfavourable foreign exchange impact muted the results. We note our strong customer retention metrics, which gives us confidence that the increased volumes will translate into stronger performance in Q2 and the remainder of the year. We are also poised to benefit from a price increase on our highest volume product (Colon Cleanse) which we enacted late in Q1. This increase has shown no negative effect on volumes and this product should continue to increase its revenue contribution.”

First Quarter Highlights

Revenues in Q1 2021 were $9.8 million, compared to $10.4 million in the Q1 2020. Reported revenues were impacted by the lower US dollar in the 2021 period, accounting for a majority of the difference in total revenue from a year ago.

Total sales unit volumes were higher in both the supplements and skincare business in Q1 2021 compared to Q1 2020. Many of the Company’s top products benefitted from the increased exposure with higher product rankings, which in turn lead to more product listing views and ultimately, higher sales. One of
the Company’s top products achieved top spot in Amazon’s highly valued weight loss category several times in the past two months.

Gross margin was $6.7 million, compared to $7.3 million a year ago. Margins remained strong, in the 69% range for both periods.

Sales and marketing expenses increased somewhat dramatically in Q1 2021, to $5.2 million (53.3% of revenue) compared to $4.7 million (45.5% of total revenues) in the first quarter of 2020. Advertising spend in the first quarter of 2021 was consciously increased with a focus on gaining product rankings and
visibility. As a result of strategic advertisement targeting, several of the Company’s key products achieved top rank in their category. The impact of this exposure translates to considerably higher customer traffic and ultimately, sales. Short term promotions on new product launches have enabled the business to maintain momentum, however, going forward, advertising spend is expected to remain closer to historical levels around 45% of revenue.

Q1 2021 EBITDA was $0.1 million compared to $1.1 million in Q12020, mainly due to the impacts on revenue and advertising spend as described above.

Adjusted EBITDA, which adds back non-cash stock-based compensation and foreign exchange losses was $0.2 million for Q1 2021, compared to Adjusted EBITDA of $1.2 million for Q1 2020.

Net loss was $0.2 million ($0.00 per share) for Q1 2021, compared to a net income of $0.3 million ($0.01 per share) for Q1 2020.

 

2021

2020

2019

(in 000’s)

Q1

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

Revenue

9,758

 9,134

9,774

10,943

10,435

 7,717

 8,755

 8,771

 10,166

EBITDA

149

756

1,243

1,584

1,099

 (1,356)

 627

 460

 1,098

Adjusted EBITDA

212

603

1,166

1,573

1,228

 (1,220)

 903

 1,382

 1,318

Net Income

(233)

523

546

928

282

 (2,460)

 (243)

(1,240)

 392

Conference Call

Management will host a conference call tomorrow to discuss these results and take questions from investors. Details are as follows:

Date: Thursday, May 27, 2021v

Time: 11:00am Eastern Time

Dial-in: 1-800 319 4610 or 1-604 638 5357

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

TORONTO, April 28, 2021 – Mimi’s Rock Corp. (TSXV:MIMI, OTCQB:MIMNF) (the “Company”), an online dietary supplement and wellness company, today announced its financial results for the fourth quarter and year ending on December 31, 2020.

Highlights

Revenue increased to $9.1 million, up 18.3% from $7.7 million in the prior year quarter.

Gross margin increased to $6.2 million, up 16.9% from $5.3 million in the prior year quarter.  Gross margin remained steady at a healthy 68%.

Sales and marketing expenses declined 11% to $4.4 million (48.1% of revenue) in the fourth quarter of 2020 compared to $4.9 million (63.1% of total revenues) in the fourth quarter of 2019.  Advertising spend in the Q4 2019 had been abnormally high as the Company engaged in a tactical marketing offensive to maintain customer levels in the face of changes in the way Amazon displays products.  Management believes the 4Q20 quarter level of spending represents a reasonable benchmark, going forward.

Q4 2020 EBITDA was $0.8 million compared to negative EBITDA of $1.4 million in Q4 2019.  The significant improvement was due to materially improved revenue as well as lower marketing spend as noted above.

Adjusted EBITDA, which adds back (deducts) non-cash stock-based compensation, investment income, acquisition costs and listing expenses was $0.6 million for Q4 2020, compared to negative Adjusted EBITDA of $1.2 million for Q4 2019.

Net income was $0.5 million $0.01 per share) for Q4 2020, compared to a net loss of $2.5 million (negative $0.05 per share) for Q4 2019

 

Year ended December 31, 2020

Year ended December 31, 2019

(in 000’s)

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

Revenue

9,134

9,774

10,943

10,435

7,717

8,755

8,771

10,166

EBITDA

756

1,243

1,584

1,099

(1,356)

627

460

1,098

Adjusted EBITDA

603

1,166

1,573

1,228

(1,220)

903

1,382

1,318

Net Income

523

546

928

282

(2,460)

(243)

(1,240)

392

Full-year Highlights

Total revenues increased to $40.3 million, up 14% from $35.4 million in the prior fiscal year.

Gross margin increased to $28.0 million for the year ended 2020, up 13% from $24.8 million in the 2019 year.  Gross margin remained stable at 69% in both years.

Selling and marketing expenses were $18.4 million (46% of revenue) in the 2020 year, as compared to $16.9 million (48% of revenues) in the 2019 year.

Full year EBITDA was $4.7 million in 2020 compared to $0.8 million in the prior fiscal year.  Adjusted EBITDA was $4.6 million for the year ended December 31, 2020, compared to $2.4 million for the year ended December 31, 2019.

Conference Call

Management will host a conference call tomorrow to discuss these results and take questions from investors. Details are as follows:

Date:

Thursday, April 29, 2021

  

Time:

11:00am Eastern Time

  

Dial-in:

1-800 319 4610 or

 

1-604 638 5357

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr.Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14 -Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada , and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. Please refer to the 2020 Annual Financial Statements for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including risks relating to: the Company’s reliance on strength of reputation and brands, third-party manufacturing, transportation and distribution, the Company’s ability to protect its intellectual property, the Company’s reliance on e-commerce sites, disruption or breaches in information technology systems, the successful integration subsequent to acquisitions, litigation, volatility in the market price, the inability to successfully implement growth strategy on a timely basis, difficulty expanding sales in targeted international markets, changes in general economic conditions, the Company’s ability to service its debt obligations, management of growth, reliance on management, conflicts of interest, local and foreign tax matters, liquidity, currency and other financial risks, potential product liability or other regulatory claims, product recalls, the need to develop and innovate products, changes in legal and regulatory standards, competition, operating risk and insurance coverage, natural disasters, unusual weather and geo-political events, the effect of COVID-19 on operations and other risks relating to the business and industry of the Company that are detailed from time to time in the Company’s filings with the Canadian provincial securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

TORONTO, November 23, 2020 – Mimi’s Rock Corp. (TSXV:MIMI, OTCQB:MIMNF) (the “Company”), an online dietary supplement and wellness company, today announced its financial results for the three and nine months ended September 30, 2020.

Highlights
  • $9.8 million of revenue and $1.2 million of EBITDA in Q3 2020
  • YTD 2020 revenues $31.2 million; up from $27.7M same period last year


“We are pleased to report strong Q3 2020 results, which saw us grow our revenue by 12% over the same quarter last year, despite the fact that Amazon’s Prime Day event shifted out of the quarter this year, into Q4 2020.  Even without the expected boost from Prime Day, we saw an EBITDA lift of 29% over Q3 2019. We look forward to a strong Q4 2020, which will for the first time include both the Prime Day and Black Friday/Cyber Monday events” said David Kohler, CEO. 

Net Income and EBITDA for the Three Months Ended September 30, 2020

For the three months ended September 30, 2020, the Company earned net income of $545,612 ($0.01 earnings per share), compared to a net loss of $243,156 ($0.00 per share) for the three months ended September 30, 2019.  For the three months ended September 30, 2020, EBITDA was $1,242,935, compared to $626,540 for the same period in 2019.  Adjusted EBITDA, which excludes non-cash share-based compensation expense, listing expenses, foreign exchange gain (loss) and investment income, was $1,165,758 for the three months ended September 30, 2020, compared to Adjusted EBITDA of $902,776 for the same three-month period in 2019.

Third quarter 2020 performance was muted somewhat by Amazon’s decision to delay the Prime Day event period to the fourth quarter this year as opposed to its traditional third quarter event timeline.  Results for the comparative third quarter in 2019 include the Prime Day event as it typically occurs in July.  The Company’s skin care businesses, All Natural and Maritime Naturals generally performed well, as we had expected. 

Revenues and Gross Profit

Revenues were $9,774,906 for the three months ended September 30, 2020, compared to revenues of $8,755,114 for the three-month period ended September 30, 2019.  Revenues in the comparative 2019 period represent revenues from the DTI business only, as the skin care businesses, All Natural and Maritime Naturals, were acquired in December 2019.  As a significant portion of the Company’s sales are generated through the Amazon marketplace, the Amazon Prime Day sales event, typically held in July, is generally the Company’s best sales week of the year.  As a result of complications surrounding COVID-19, Amazon made the decision to move Prime Day 2020 to October.  As such, revenues for DTI in Q3 2020 were impacted due to lower promotional activity and some customers delaying purchases.  Despite these effects, consolidated revenues increased approximately $1 million above the same period in 2019, due to the addition of the acquired skin care businesses.  While unexpected events related to the pandemic have caused the fluctuation in sales revenues on a period-over-period basis, improvement in both the DTI and skincare businesses are anticipated in Q4 2020 and beyond.

Gross profit for the three months ended September 30, 2020 was $6,874,719 (70.3%) compared to $6,114,962 (69.8%) for the three-month period ended September 30, 2019.  Gross profit improved in the third quarter but the profit margin fell slightly on a year-over-year basis, primarily due to a one-time adjustment to margins on skincare inventory acquired.  Overall profit margins are expected to improve slightly going forward.

Selling and Marketing Expense

The Company incurred selling and marketing expenses of $4,476,833, or approximately 45.8% of revenue, for the three months ended September 30, 2020, compared to $4,014,971, or 45.9% of revenue, for the three months ended September 30, 2019.   The Company continues to strive to optimize advertising spend relative to revenue.  Ongoing events continually influence ad spend strategy and efficient strategies directly impact bottom line performance.  While savings can be enjoyed short term with lower promotional spend, sales momentum is also an important factor in online sales.  The most effective online ad strategies combine an efficient maintenance spend to keep repeat customers while investing strategically to attract new ones and gain greater overall brand awareness.  

Selling and marketing expenses for the period consist primarily of fulfillment costs related to delivering products to customers, direct online advertising placements, costs related to marketing the Dr. Tobias, All Natural and Maritime Naturals brands, and other promotional and awareness initiatives.  The Company will continue to actively monitor its selling and marketing expenses, particularly direct advertising expenses, and expects that these expenses will begin to stabilize in relation to sales revenues going forward.

General and Administrative Expense

General and administrative expenses for the three months ended September 30, 2020 were $1,232,128, compared to $1,197,215 for the same period in 2019.  General and administrative expenses consist primarily of salaries and benefits, professional fees, occupancy costs, and insurance.   General and administrative expenses are relatively comparable to the same period in 2019 due to the fact that staff and operational costs are relatively stable.  General and administrative expenses are expected to remain relatively fixed on an absolute basis for the foreseeable future.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. The forward-looking statements in this press release include, but are not limited to, statements regarding the impact of the COVID-19 pandemic on the business and operations of the Company, the Company’s expected revenues, the expected increase in quarterly revenues and Adjusted EBITDA. Please refer to the Company’s 2019 Annual Financial Statements and MD&A for more details on the Company’s calculation of EBITDA and Adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made.  Actual results or events may differ from those predicted in these forward-looking statements.  All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below.  Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including risks relating to: the Company’s reliance on strength of reputation and brands, third-party manufacturing, transportation and distribution, the Company’s ability to protect its intellectual property, the Company’s reliance on e-commerce sites, disruption or breaches in information technology systems, the successful integration subsequent to acquisitions, litigation, volatility in the market price, the inability to successfully implement growth strategy on a timely basis, difficulty expanding sales in targeted international markets, changes in general economic conditions, the Company’s ability to service its debt obligations, management of growth, reliance on management, conflicts of interest, local and foreign tax matters, liquidity, currency and other financial risks, potential product liability or other regulatory claims, product recalls, the need to develop and innovate products, changes in legal and regulatory standards, competition, operating risk and insurance coverage, natural disasters, unusual weather and geo-political events, the effect of COVID-19 on operations, and other risks relating to the business and industry of the Company that are detailed from time to time in the Company’s filings with the Canadian provincial securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof.  The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Mimi's Rock Corp. Logo (CNW Group/Mimi's Rock Corp.)

‘We are thrilled to offer our products on these two well-established wellness platforms. It allows Mimi’s Rock to increase the discoverability of its Dr. Tobias products, to acquire new customers, while offering existing customers an enhanced shopping channel experience,” added David Kohler , CEO of Mimi’s Rock.

The Company also announced several organizational changes. Effective January 1st, 2021 , Telfer Hanson will step away from his roles as Executive Chair of Mimi’s Rock Corp., Managing Director of DTI GmbH, and Managing Director of Mimi’s Rock GmbH (two German subsidiaries), however, he will retain the role of Chairman of the Board of Mimi’s Rock Corp. Effective immediately, Chirag Patel has been named Chief Operating Officer of Mimi’s Rock. Previously, Chirag held the position of V.P. of Operations and Strategy. Andrew Patient , in addition to his role as Chief Financial Officer of Mimi’s Rock, will become the Managing Director of DTI GmbH and Mimi’s Rock GmbH. “These changes are in lock-step with the Company’s growth strategy and create better overall alignment within the organization,” commented David Kohler .

About Mimi’s Rock Corp.

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Colon 14 -Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada , and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Please visit www.mimisrock.com or the Company’s profile on www.sedar.com for the Company’s recent filings.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

TORONTOSept. 10, 2020 – Mimi’s Rock Corp. (TSXV: MIMI) (the “Company”), an online dietary supplement and wellness company, today announced that all resolutions voted on at the annual and special meeting of shareholders of the Company held on September 8, 2020 were approved by shareholders. Shareholders voted in favour of the re-election of each of the incumbent directors, namely Telfer Hanson (Chair), Bryan Pearson (Lead Independent Director), David GrandinNorman BettsCharmaine Crooks and David Kohler.

In addition, the Company today announced the cancellation of an aggregate of 750,000 options (“Options”) to purchase common shares in the capital of the Company (“Common Shares”) and the issuance of Options to various employees, officers and directors to purchase up to a total of 920,000 Common Shares. The issued Options will expire 5 years from the date of grant and were issued on terms pursuant to TSX Venture Exchange policy and the Company’s stock option plan.

About Mimi’s Rock Corp.

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Mimi’s Rock Corp.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

TORONTO, September 1, 2020 – Mimi’s Rock Corp. (TSXV:MIMI, OTCQB:MIMNF) (the “Company”), an online dietary supplement and wellness company, today announced the launch of a premium formula of hand sanitizer.

“We are keenly aware of the increasing global demand for hand sanitizer and the proliferation of inferior product in the market. Many products are hard on the skin, smell awful and leave an unpleasant residue. We have worked meticulously with our Canadian manufacturing partner, to create a hand sanitizer that we believe is one of the best on the market. With the successful launch in Canada under our All Natural Advice skin care brand, we intend to also distribute hand sanitizer in the US as soon as possible” said Dave Kohler, CEO. “We have initially launched an 8 oz size and will be coming to market in the near future with additional sizes and scents.”

New Dr Tobias Gummies

The Company also announced an extension to its lineup of vitamins.  The Dr Tobias brand will soon be entering the popular “vitamin gummies” space and will start with a strong line up of four products. All 4 products are expected to launch in the current quarter, in time for the busy Q4 selling season.

The new line will include:

    • Apple Cider Vinegar Gummy
    • Elderberry & Vitamin C Gummy
    • Joint Support Gummy
    • Hair Vitamin Gummy

Other recently completed launches by our Dr Tobias supplements brand:

    • Zinc 50mg
    • Elderberry Immune Support
    • Vitamin C 1000mg
    • Organics Green Complex
    • Magnesium Bisglycinay

We expanded our already strong Dr. Tobias immune defense portfolio to meet demands in the current global climate as it pertains to Covid-19.  The addition of these products are in direct response to the voice of our customers, who are looking for high quality offerings in these areas.

We continue to add distribution channels and products in countries around the world and will provide an update on these initiatives in early October.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. The forward- looking statements in this press release include, but are not limited to, statements regarding the impact of the COVID-19 pandemic on the business and operations of the Company, the Company’s expected revenues, the expected increase in quarterly revenues and Adjusted EBITDA. Please refer to the Company’s 2019 Annual Financial Statements and MD&A for more details on the Company’s calculation of EBITDA and Adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

TORONTO, August 26, 2020 – Mimi’s Rock Corp. (TSXV:MIMI, OTCQB:MIMNF) (the “Company”), an online dietary supplement and wellness company, today announced its financial results for the three months ended June 30, 2020.

Highlights
  • $10.9 million revenue – Highest to date
  • $1.6 million EBITDA – Highest to date
  • $0.9 million after-tax net income

“The second quarter of 2020 financial results reflect the continued evolution of our business” said David Kohler, CEO. “Our positioning in the marketplace combined with our new product offerings, have resulted in our best results to date—and we are proud of what we have accomplished. We have seen that the COVID-19 virus has further accelerated consumer interest in shopping online. We are excited about the implications and expect growth to continue.”

Results of Operations for the Three Months Ended June 30, 2020

Net income for the second quarter of 2020 was $928,165 compared to a net loss of $1,240,051 in the same period in 2019. EBITDA for the second quarter of 2020 was $1,584,184, compared to EBITDA of $460,008 for the same period in 2019. Adjusted EBITDA (which excludes non-cash share-based compensation expenses, listing fees, foreign exchange gains (losses) and investment income) for the second quarter of 2020 was $1,573,165, ahead of the Adjusted EBITDA of $1,382,117 reported for the same period in 2019.

Revenues

Consolidated revenues for the second quarter of 2020 were $10,943,137, up 25% from revenues of $8,770,904 in the same period in 2019. Revenues were $10,943,137 for the three months ended June 30, 2020 compared to revenues of $8,770,904 for the period ended June 30, 2019. Revenues in the comparative 2019 period represent revenues from the DTI business only as the skin care businesses, All Natural and Maritime Naturals, were acquired in December 2019.

DTI, the core dietary supplements business, saw an improvement in its financial performance in the second quarter of 2020, indicating that it has completed its recovery from a difficult fourth quarter of 2019. Management expects the revenues of this business to experience some fluctuation on a quarter-to-quarter basis, but ultimately continue to grow throughout 2020 with the launch of new complementary products and expansion into additional geographic territories. Also, revenues from the skin care businesses are expected to continue to grow as the products enter the U.S. market.

Selling and Marketing Expense

The Company incurred selling and marketing expenses of $4,788,764, or approximately 43.8% of revenue, for the second quarter of 2020, compared to $3,523,242, or 40.2% of revenue, for the same period in 2019. In the 2019 period, management consciously scaled back online advertising to evaluate returns on investment. In Q2 2020, the level of online advertising was increased as management had become confident that its refined marketing strategy was gaining traction in the marketplace.

General and Administrative Expense

General and administrative expenses for the three months ended June 30, 2020 were $1,272,825, compared to $1,302,960 for the same period in 2019. General and administrative expenses consist primarily of salaries and benefits, professional fees, occupancy costs and insurance. General and administrative expenses are relatively comparable to the same period in 2019 due to the fact that staff and operational costs are relatively stable. General and administrative expenses are expected to remain relatively fixed for foreseeable future periods.

Interest Expense and Financing Costs

Interest and financing costs of $180,991 were incurred during the three months ended June 30, 2020, compared to $533,475 for the three months ended June 30, 2019. Interest and financing expenses have decreased significantly in 2020 periods compared to 2019 primarily due to renegotiations of the senior debt facility as well as lower interest rates and non-cash charges related to amortization of finance costs incurred in securing the loan.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company operating under the Dr. Tobias brand. The brand features over 30 products including the top selling colon cleansing product and the #1 selling Omega 3 Fish Oil on Amazon.com. Mimi’s Rock currently serves customers in the United States and has rapid growth plans to expand into other markets. For more information, visit https://mimisrock.com.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. The forward- looking statements in this press release include, but are not limited to, statements regarding the impact of the COVID-19 pandemic on the business and operations of the Company, the Company’s expected revenues, the expected increase in quarterly revenues and Adjusted EBITDA. Please refer to the Company’s 2019 Annual Financial Statements and MD&A for more details on the Company’s calculation of EBITDA and Adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including risks relating to: the Company’s reliance on strength of reputation and brands, third-party manufacturing, transportation and distribution, the Company’s ability to protect its intellectual property, the Company’s reliance on e-commerce sites, disruption or breaches in information technology systems, the successful integration subsequent to acquisitions, litigation, volatility in the market price, the inability to successfully implement growth strategy on a timely basis, difficulty expanding sales in targeted international markets, changes in general economic conditions, the Company’s ability to service its debt obligations, management of growth, reliance on management, conflicts of interest, local and foreign tax matters, liquidity, currency and other financial risks, potential product liability or other regulatory claims, product recalls, the need to develop and innovate products, changes in legal and regulatory standards, competition, operating risk and insurance coverage, natural disasters, unusual weather and geo-political events, the effect of COVID-19 on operations and other risks relating to the business and industry of the Company that are detailed from time to time in the Company’s filings with the Canadian provincial securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward- looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

For further information, please contact:

David Kohler, CEO
905-330-5081
Dkohler@mimisrock.com

Highlights

  • Q1 2020 Revenues of $10.4M – highest quarterly revenue to date
  • Q1 2020 Adjusted EBITDA of $1.23M


Recent Developments

  • On June 8, 2020, the Company announced several new products recently added to the Dr Tobias portfolio. Based on the demands of customers and in light of the focus on immunity support, the Company launched a number of new products focused on supporting the immune system. These products include Vitamin C, Elderberry Immune with Echinacea, Zinc and Vitamin C, as well as a 50mg Zinc product. The new additions complement the brands’ existing established portfolio of immune supporting products.

“Our first quarter 2020 results reflect the incredible efforts of our team, as we were able to re-establish the trajectory of the Dr Tobias brand’s growth ” said David Kohler, CEO.  “We identified and addressed a number of considerable challenges towards the end of 2019 and I’m pleased with the rapidity and efficiency with which we were able to course correct.  We have also been able to integrate the operations of the newly acquired skin care businesses and I am optimistic that the combination of these businesses with our core brands will allow us to drive even better performance over the balance of the year.”

Results of Operations for the Three Months Ended March 31, 2020

For the three months ended March 31, 2020, the Company earned net income of $281,515, compared to net income of $391,917 for the three months ended March 31, 2019.  EBITDA for the three months ended March 31, 2020 was $1,099,367, compared to $1,097,913 for the same period in 2019.  Adjusted EBITDA, which adds back (deducts) non-cash stock-based compensation, investment income, acquisition costs and listing expenses, was $1,228,070 for the three months ended March 31, 2020, compared to $1,318,520 for the same three month period in 2019. 

Revenues and Gross Margin

Revenues were $10,435,311 for the three months ended March 31, 2020, compared to revenues of $10,166,227 for the three month period ended March 31, 2019.  Revenues reported in the current period primarily represent sales from the Company’s DTI GmbH (“DTI”) business as well as sales from All Natural and Maritime Naturals, acquired in December 2019.  Revenues in the comparative 2019 period primarily represent revenues from the DTI business only.  While the Company’s sales do not experience significant seasonality, there is some fluctuation on a quarterly basis due to natural demand fluctuation as well as promotional impacts.  In addition, the DTI business experienced significant changes in the market in mid- to late-2019 which put downward pressure on revenue with heavier advertising spend.  The first quarter of 2020 saw a return to previous sales and revenue levels, with sales increasing on a weekly basis throughout the quarter.  Revenues from the newly acquired skin care businesses, All Natural and Maritime Naturals, was in-line with expectations and historical performance.  The Company expects these revenues to continue to grow throughout 2020 as the businesses are integrated within the existing platform.

Revenues to date have been generated almost entirely through the Company’s online sales channels in the United StatesCanada and Europe.  Revenue growth in future quarters is expected to come from expansion into additional geographic territories as well as the launch of new complementary products.

Gross margin for the three months ended March 31, 2020 was $7,253,442 (69.5%) compared to $7,124,896 (70.1%) for the three month period ended March 31, 2019.  Costs of goods sold for the 2020 period includes an adjustment of $109,636 relating to recognition of fair value adjustments made on acquisition of All Natural and Maritime Naturals. Without consideration to this adjustment, gross margin for the period would have been 68.5%, an improvement over the 2019 period due to better pricing from suppliers as well as overall process efficiencies. 

Selling and Marketing Expense

The Company incurred selling and marketing expenses of $4,748,087, or approximately 45.5% of revenue, for the three months ended March 31, 2020, compared to $4,502,744, or 44.3% of revenue, for the three months ended March 31, 2019.   The Company continues to adapt and further its brand strategy.  Online advertising in the period was increased with a focus on brand awareness and customer loyalty. Sales from its own e-commerce site, drtobias.com, as well through additional online retail outlets continued to grow; however, a majority of revenue continues to be generated on the Amazon platform.

Advertising spend in the first quarter of 2020 was lower than in recent periods but higher relative to sales than the first quarter of 2019.   Management spent considerable time and effort to understand challenges which presented in the DTI business in late 2019 and a recalibrated advertising strategy was able to provide support for an increase in sales volumes across most Dr Tobias products.   In addition, the Company was able to maintain sales growth such that current levels are comparable to those a year ago, despite operating challenges presented by COVID-19.   Short term promotions on new product launches will enable the business to continue to drive growth.  The Company continues to better understand its customer base, metrics and drivers in order to optimize advertising spend compared to revenue. 

Selling and marketing expenses for the period consist primarily of fulfillment costs related to delivering products to customers, direct online advertising placements, costs related to marketing the Dr Tobias brand and other promotional and awareness initiatives.  The Company will continue to actively monitor its selling and marketing expenses, particularly direct advertising expenses and expects that these will begin to stabilize in relation to sales revenues going forward.

General and Administrative Expense

General and administrative expenses for the three months ended March 31, 2020 were $1,277,285, compared to $1,303,632 for the same period in 2019.  General and administrative expenses consist primarily of salaries and benefits, professional fees, occupancy costs and insurance.   General and administrative expenses are relatively comparable to the same period in 2019.  Staff and operational costs are relatively stable and expected to remain so going forward.

Share based Compensation Expense

Share based compensation expense relates to awards under the Company’s incentive stock option plan and is based on the estimated number of awards that will eventually vest using the Black-Scholes option pricing model.  Share based compensation expense for the three months ended March 31, 2020 was $71,182 compared to $212,372 for the three months ended March 31, 2019.  Share based compensation expense in 2019 was considerably higher due to initial vesting of employee grants.

Foreign Exchange Gains and Losses

Foreign exchange losses of $57,521 were recorded in the three months ended March 31, 2020, compared to $21,535 for the three months ended March 31, 2019, primarily due to the movements in the value of the US dollar relative to the Euro between the time that expenses were incurred and the time that they were settled.

Interest Expense and Financing Costs

Interest and financing costs of $244,738 were incurred during the three months ended March 31, 2020, compared to $467,471 for the three months ended March 31, 2019.  Interest and financing expenses have decreased significantly in the first quarter of 2020 compared to the same period in 2019 primarily due to renegotiations of the senior debt facility as well as lower interest rates and non-cash charges related to amortization of finance costs incurred in securing the loan.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company operating under the Dr. Tobias brand. The brand features over 30 products including the top selling colon cleansing product and the #1 selling Omega 3 Fish Oil on Amazon.com. Mimi’s Rock currently serves customers in the United States and has rapid growth plans to expand into other markets. For more information, visit https://mimisrock.com.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. The forward looking statements in this press release include, but are not limited to, statements regarding the impact of the COVID-19 pandemic on the business and operations of the Company, the Company’s expected revenues, the expected increase in quarterly revenues and Adjusted EBITDA. Please refer to the Company’s 2019 Annual Financial Statements and MD&A for more details on the Company’s calculation of EBITDA and Adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including risks relating to: the Company’s reliance on strength of reputation and brands, third-party manufacturing, transportation and distribution, the Company’s ability to protect its intellectual property, the Company’s reliance on e-commerce sites, disruption or breaches in information technology systems, the successful integration subsequent to acquisitions, litigation, volatility in the market price, the inability to successfully implement growth strategy on a timely basis, difficulty expanding sales in targeted international markets, changes in general economic conditions, the Company’s ability to service its debt obligations, management of growth, reliance on management, conflicts of interest, local and foreign tax matters, liquidity, currency and other financial risks, potential product liability or other regulatory claims, product recalls, the need to develop and innovate products, changes in legal and regulatory standards, competition, operating risk and insurance coverage, natural disasters, unusual weather and geo-political events, the effect of COVID-19 on operations and other risks relating to the business and industry of the Company that are detailed from time to time in the Company’s filings with the Canadian provincial securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

 

SOURCE Mimi’s Rock Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/30/c5134.html

David Kohler, CEO, 905-330-5081, Dkohler@mimisrock.comCopyright CNW Group 2020

Charmaine Crooks is a five time Olympian, entrepreneur and community leader. Based in West Vancouver, Charmaine has over 20 years governance experience as a director on several national and international non-profit and public boards. As president and founder of NGU Consultants Inc (1997), Charmaine has provided strategic advisory and corporate development services to a variety of sectors including health, technology, sports and major events. 

Recognized in 2018 as one of Canada’s Most Powerful Top 100 by the Women’s Executive Network (WXN), Charmaine is a respected contributor to the international business community.

“We are thrilled to welcome Charmaine Crooks to our team. Charmaine’s marketing, financial and governance skills will be welcomed at all levels of our organization. Her passion for success and commitment to excellence will be an asset in maintaining the high standards that we set for ourselves as an organization,” said Telfer Hanson, Executive Chairman of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, Mimi’s Rock Corp.’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced herein, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

Please visit www.mimisrock.com or www.sedar.com for recent Mimi’s Rock Corp. filings.

 

SOURCE Mimi’s Rock Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/17/c2320.html

Telfer Hanson, Executive Chairman, 416-230-3003, thanson@mimisrock.comCopyright CNW Group 2020

NEW IMMUNE SUPPORTING PRODUCT LAUNCHES:

Vitamin C
Elderberry Immune – with Echinacea, Zinc and Vitamin C
Zinc 50mg

These new additions complement our existing established portfolio of immune supporting products:

Omega 3 Fish Oil (#1 on Amazon.com)
Adult Multivitamin
Deep Immune Probiotics & Prebiotics
Immune Daily
Prebiotics
Vitamin D3
Turmeric Curcumin
All-in-One Dog Chews

All the above products are available within the United States with several also available in Canada.

“Based on evolving consumer demand, our team has pivoted rapidly to develop and launch new immune support products. I couldn’t be prouder of our team, who’s professionalism has allowed for our company to benefit from changing consumer trends. Our business is well positioned to work from home and I am very pleased that the team has successfully executed our new launches from our new environment.” said David Kohler, CEO.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws.  All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for recent Mimi’s Rock Corp. filings.

 

SOURCE Mimi’s Rock Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/08/c1632.html

please contact Mimi’s Rock Corp. at: David Kohler, CEO, 905-330-5081, Dkohler@mimisrock.comCopyright CNW Group 2020

Recent Developments

  • On February 24, 2020, the Company announced that its common shares were approved for trading on the OTCQB Venture Market (the “OTCQB”) under the ticker symbol MIMNF. The Company also received clearance from The Depositary Trust Company for transfer eligibility. The Company expects that the U.S. listing will increase the Company’s exposure and accessibility to the U.S. market, providing additional liquidity for shareholders, and raising the awareness of the Company’s brands to a much larger audience.
  • On April 7, 2020, the Company provided an operational update regarding COVID-19 and its impact on the business. While the proliferation of the coronavirus has forced the world to adapt, the Company has so far been able to navigate the consequential operational challenges. The Company has increased inventory levels on-hand with its e-commerce channel partners to help protect against the possibility of future supply chain disruptions. The Company has been able to maintain growth in its vitamins and supplements business. As well, the newly acquired skin care business has performed as expected, with no material decline in demand. At this time, management does not foresee any major disruptions to the Company’s business.
  • On April 22, 2020, the Company announced it would be relying on the 45-day extension period provided under the blanket relief from the Canadian Securities Administrators for the filing of its annual financial report for the year ended December 31, 2019 and the related management’s discussion & analysis (collectively, the “2019 Annual Financials”).

“The latter half of 2019 was challenging, as Amazon sellers met with significant changes within the platform. Frankly, we hit some “speed bumps” in Q3 and Q4, although I am pleased to announce that our team was responsive and effective in rapidly adapting and instituting a new approach. By Q1 2020, we began seeing the benefit of our operational adjustments. Further, the team’s impressive performance in integrating the All Natural Advice and Maritime Naturals lines, as well as reacting to the increased demands resulting from the COVID-19 pandemic, resulted in a strong Q1 and an improved financial outlook for 2020, of which we are very proud. We continue to launch new products and enter into new geographic jurisdictions each and every quarter, with improved efficiencies and operational performance. Our belief in the building of an online focused health products platform is well aligned with the current and future purchasing practices in the global marketplace. We see these recent events as driving even more consumers away from “bricks-and-mortar” retail and towards e-commerce, and we believe that our positioning and deeper understanding of the e-commerce world will allow us to continue to develop as a leader in in the new economy” said David Kohler, CEO.

Outlook for Q1 2020

The Company is establishing its initial outlook for fiscal 2020 and anticipates reported Q1 2020 results to be in the following range:

  • Expected Q1 2020 revenue of $10.3M – $10.6M
  • Expected Q1 2020 adjusted EBITDA of $1.2M – $1.4M

     

Results in this range would represent an increase in revenue of 33% to 37% over Q4 2019 and would represent the highest quarterly revenue level to date. While approximately half of this increase is from the newly acquired skin care businesses, the Dr Tobias brand also experienced a strong recovery in the first quarter of 2020. Management has implemented a new advertising strategy, streamlined processes and is focused on new market growth for the balance of 2020.

On May 29, 2020, the Company provided an update on the status of its 2019 Annual Financials and indicated that it would provide guidance on the timing to file its 2020 first quarter interim financial statements and related management’s discussion and analysis for the three months ended March 31, 2020 (collectively the “Q1 2020 Financials”) at the time of filing the 2019 Annual Financials. The Company continues to rely on the exemption under Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements, which instrument became effective as of March 23, 2020, in postponing the filing of its Q1 2020 Financials and expects to issue the Q1 Financials on or before June 30, 2020. Until such time as the Q1 Financials are filed, management and other insiders of the Company will be subject to an insider trading black-out consistent with the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company confirms that, except as disclosed by the Company, there have been no material business developments since May 29, 2020.

COVID-19

The Company is generally well positioned as a business to sustain through the disruption as a result of the pandemic as our products sales are all online. As we sell health and wellness products, the demand during the current outbreak has remained strong, particularly for certain immunity products. The initial outbreak and requests to self-isolate caused a brief but significant uptick in sales as consumers stocked-up on essentials. While the initial surge was not long-lasting, sales have continued to remain at levels at or above those seen prior to the outbreak.

Based on current information, we remain confident that we can continue to operate as the economy attempts to resume to normalcy. For precautionary reasons, over the past ten weeks we have taken the opportunity to increase our finished goods inventory on-hand from the normal 25 days to approximately 75 days on average. While this requires an additional investment in working capital, increased inventory in the fulfillment centres reduces the risk of delivery disruption. While the nature of the pandemic is such that it is difficult to predict how long it will last, there is so far no indication that the COVID-19 outbreak will have a negative impact on the Company’s business.

Results of Operations for the Year Ended December 31, 2019

For the year ended December 31, 2019, the Company incurred a net loss of $3,551,010 ($0.10 per share), compared to a net loss of $945,101 ($0.06 per share) for the year ended December 31, 2018. EBITDA for the year ended December 31, 2019 was $828,758, compared to $897,042 for the year ended 2018. adjusted EBITDA, which adds back (deducts) non-cash stock based compensation, investment income, acquisition costs and listing expenses, was $2,382,898 for the year ended December 31, 2019, compared to adjusted EBITDA of $2,736,093 for the year ended December 31, 2018.

Revenues and Gross Margin

Revenues were $35,409,072 for the year ended December 31, 2019 compared to revenues of $17,754,166 for the year ended December 31, 2018. Revenues reported in the current and prior year primarily represent revenues from the DTI business, which was acquired in July 13, 2018. While the Company’s sales do not experience significant seasonality, there is some fluctuation on a quarterly basis due to natural demand fluctuation as well as promotional impacts. Results of operations of the All Natural and Maritime Naturals businesses were included from the date of acquisition, however, had minimal impact due to their acquisition in mid-December 2019. The Company continues to adapt its brand strategy, advertising spend and execution strategies as conditions in the online dietary supplements market dictate. Beginning in Q2 2019, the Company began to see considerable shifts in the marketplace, however, advertising spend was adjusted and sales remained strong through the middle of the third quarter. Despite increasing advertising spend, sales continued to decline through Q4 2019.

Fourth quarter 2019 results reflected the full impact of the decline, as revenues were $7,716,827 for the three months ended December 31, 2019 compared to revenues of $9,231,216 for the three months ended December 31, 2018.

Management has made significant changes to its marketing strategy. While customer loyalty remained strong throughout 2019, new customer acquisition became increasingly difficult. The Dr Tobias brand began to see many new competitors emerge in mid-late 2019. As a result, costs to direct customer traffic began to get more expensive and less effective. Simultaneous with this market activity increase, changes in the way products were displayed on the Company’s primary marketplace had the impact of reducing the importance of rankings and reviews with a preference for paid advertisements. Despite increasing advertising spend and making investments in customer engagement, results did not show sufficient improvement such that management made a decision to terminate its relationship with its advertising partner. These changes seem to have made an impact in the period since year end.

As a result, sales and revenues have recovered in the period since December 31, 2019 to levels similar to those in Q2 2019 and prior. Sales from its own e-commerce site, drtobias.com, as well through additional online retail outlets continued to grow, however, a majority of sales of Dr Tobias products are generated through the Amazon.com sales channel in the United States.

Gross margin for the year ended December 31, 2019 was $24,759,327 (70%) compared to $11,963,253 (67%) for the year ended December 31, 2018. Since the acquisition of DTI, the Company has been able to improve efficiency and obtain better pricing from its supplier. Gross margin ratios have improved over the comparative period as a result.

Selling and Marketing Expense

The Company incurred selling and marketing expenses of $16,908,419, or 47.8% of revenue, for the year ended December 31, 2019, compared to $7,314,329, or approximately 41.2% of revenue, for the year ended December 31, 2018. Sales and marketing expenses for the period consist primarily of fulfillment costs related to delivering products to customers, direct online advertising placements, costs related to marketing the Dr. Tobias brand and other promotional and awareness initiatives. In the fourth quarter of 2019, the Company incurred selling and marketing expenses of $4,867,462, or 63.1% of revenue, compared to $4,013,384, or approximately 41.2% of revenue, for the fourth quarter of 2018. Advertising spend levels were considerably higher than originally anticipated due to strategies implemented to ensure protection of the brand and customer retention. Going forward, the Company expects selling and marketing expenses to return to more normal levels in the mid-40% range compared to revenue.

As the Company acquired the Dr Tobias brand in mid-2018, the first two quarters of 2019 involved understanding the dynamics of the Dr Tobias customer base as well as launching a new brand. Advertising spend in the third quarter of 2019 was increased with a deliberate focus on attracting longer term repeat customers. While the brand continues to generate strong repeat sales, investments are also being made attract new-to-brand customers. Despite consistent investment, returns in the form of revenue growth did not materialize. Organic growth began to decline until very late in 2019 as new strategies began to show results. The Company is confident it has appropriately adapted its advertising strategies in the near term as both efficiency and effectiveness of advertising has improved in the period since December 31, 2019. The Company will continue to actively monitor its selling and marketing expenses, particularly those directly related to advertising and expects that these will vary in relation to sales revenues going forward as advertising spend is optimized relative to competitive conditions.

General and Administrative Expense

General and administrative expenses for the year ended December 31, 2019 were $5,468,010, or 15.4% of revenue, compared to $1,912,831, for the year ended 2018, representing 10.8% of revenue. General and administrative expenses consist primarily of salaries and benefits, professional fees, occupancy costs and insurance. General and administrative expenses in the 2019 period are higher than the same period in 2018 primarily due to due a full year of operations of the Dr Tobias business as well as higher overall staff levels due to considerably more operational activity. General and administrative expenses were higher than considered typical in 2019, primarily due to certain one-time legal costs, as well as some employee relocation expenses.

Share based compensation expense relates to awards under the Company’s incentive stock option plan and is based on the estimated number of awards that will eventually vest using the Black-Scholes option pricing model. Share based compensation expense for the year ended December 31, 2019 was $617,461 compared to $549,744 for the year ended December 31, 2018.

Listing expenses of $786,138 in the year ended December 31, 2019 are related to the acquisition and reverse takeover transaction in connection with the Company’s public listing in May 2019 and are $nil for the same period in the prior year. Listing expenses include legal and professional fees, as well as $385,487 in non-cash charges related to the reverse takeover. Acquisition costs in the year ended December 31, 2019 were $99,788, incurred in connection with the acquisitions of All Natural and Maritime Naturals in December 2019. Acquisition costs of $1,267,590 were incurred in the year ended December 31, 2018 in connection with the acquisition of DTI.

Foreign exchange losses of $64,332 were recorded in the year ended December 31, 2019, compared to $48,379 for the year ended December 31, 2018, primarily due to the movements in the value of the US dollar relative to the Euro between the time that expenses were incurred and the time that they were settled.

Interest and financing costs of $2,735,815 were incurred during the year ended December 31, 2019, compared to $919,142 for the year ended December 31, 2018. Interest and financing expenses in the 2019 period include approximately $1,629,633 (2018: $354,755) in non-cash charges related to amortization of expenses incurred in securing the Company’s senior secured loan. Both the non-cash and total amount of expense was higher in 2019 due to the recognition of all unamortized costs incurred on the Company’s original senior secured debt upon refinancing in December 2019.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company operating under the Dr. Tobias brand. The brand features over 30 products including the top selling colon cleansing product and the #1 selling Omega 3 Fish Oil on Amazon.com. Mimi’s Rock currently serves customers in the United States and has rapid growth plans to expand into other markets. For more information, visit https://mimisrock.com.

Forward-Looking Information

This news release contains forward-looking statements and forward looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation 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. The forward looking statements in this press release include, but are not limited to, statements regarding the impact of the COVID-19 pandemic on the business and operations of the Company, the anticipated timeline to file the Q1 2020 Financials, the Company’s expected revenues, the expected increase in quarterly revenues, and the expected adjusted EBITDA. Please refer to the 2019 Annual Financials for more details on the Company’s calculation of EBITDA and adjusted EBITDA.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including risks relating to: the Company’s reliance on strength of reputation and brands, third-party manufacturing, transportation and distribution, the Company’s ability to protect its intellectual property, the Company’s reliance on e-commerce sites, disruption or breaches in information technology systems, the successful integration subsequent to acquisitions, litigation, volatility in the market price, the inability to successfully implement growth strategy on a timely basis, difficulty expanding sales in targeted international markets, changes in general economic conditions, the Company’s ability to service its debt obligations, management of growth, reliance on management, conflicts of interest, local and foreign tax matters, liquidity, currency and other financial risks, potential product liability or other regulatory claims, product recalls, the need to develop and innovate products, changes in legal and regulatory standards, competition, operating risk and insurance coverage, natural disasters, unusual weather and geo-political events, the effect of COVID-19 on operations and other risks relating to the business and industry of the Company that are detailed from time to time in the Company’s filings with the Canadian provincial securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

Please visit www.mimisrock.com or www.sedar.com for the Company’s recent filings.

 

SOURCE Mimi’s Rock Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/04/c8051.html

David Kohler, CEO, 905-330-5081, Dkohler@mimisrock.comCopyright CNW Group 2020

 
 

As announced on April 22, the Company expected its year end filings to be delayed due to issues surrounding COVID-19 and took relief provided by The Canadian Securities Administrators which provided for a blanket 45-day extension for periodic filings, including financial statements and management’s discussion and analysis.

Mimi’s Rock Corp. will file its annual financial report for the year ended December 31, 2019 and the related management’s discussion & analysis (collectively, the “2019 Disclosure Documents”) on June 4, 2020. At that time, the Company will provide guidance for its first quarter and expected timing for its Q1 2020 interim financial report for the three months ended March 31, 2020.

Until such time as the 2019 Disclosure Documents are filed, management and other insiders of the Company will be subject to an insider trading black-out consistent with the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Since the date of release of the Company’s interim financial results for the three and nine months ended September 30, 2019, there have been no material business developments other than those disclosed in prior press releases.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Mimi’s Rock Corp.:

Mimi’s Rock Corp. is an online dietary supplement and wellness company which market and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names.  The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com.  All Natural Advice and Maritime Naturals products focus on skin and beauty care.  Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act.  All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, Mimi’s Rock Corp.’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced herein, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

Please visit www.mimisrock.com or www.sedar.com for recent Mimi’s Rock Corp. filings.

SOURCE Mimi’s Rock Corp.

Cision View original content: http://www.newswire.ca/en/releases/archive/May2020/29/c4261.html

David Kohler, CEO, 905-330-5081, Dkohler@mimisrock.comCopyright CNW Group 2020

PRESENTATION

June 2022 Investor Deck

Mimi's Rock is a diverse, global group of health and business professionals dedicated to offering a wide selection of wellness products that we are proud to stand behind. Mimi's Rock was founded to build a significant growth platform in the consumer healthcare space. The acquisition of Dr. Tobias provides Mimi's Rock with an initial, large consumer health product portfolio with over 30 branded products in the vitamin, health supplements, and wellness categories. We are committed to exceed our customers' expectations, while aiding them in improving their overall wellness. We want to make it a way for them to achieve what they believe to be possible.

ICON

Financials & Filings

2022 Financial Report

CORP Q4

MD & A

Interm Financial Statement

2020 Conference Call Transcript

CORP Q3

MD & A

Interim Financial Statement

November 8, 2022
Conference Call Transcript

CORP Q2

MD & A

Interim Financial Statement

August 15, 2022
Conference Call Transcript

CORP Q1

MD & A

Interm Financial Statement

July 5, 2022 Conference Call Transcript

Inc Q1

Financial Statment of RTO Acquirer

Filing Statement

Filing Statement

AGM

Form of Proxy

Management Information Circulation

Notice of Meeting

Annual Source Report: Sedar

RESEARCH REPORT

COVID Tailwind Stock Hiding in Plain Sight - NOV 5, 2020 ( Full Article )

As has become habitual, your author started his morning routine as do millions of others around the world, by taking his nutritional supplements. In my case, it is omega-3, vitamin D and C as well as zinc. According to a report from Fortune Business Insights in February 2020, the global supplement market was US$45.8 billion in 2018 and is expected to grow at an annual CAGR of 6.5% to reach US$74 billion by 2026. We note that this forecast was prior to the impact of the pandemic. As such, we believe this growth rate could be under-stated. While the supplement market has always been large, the pandemic has added a strong tailwind as the general population has increased its awareness of health and wellness and, in particular, the importance of strengthening one’s immune system. (CLICK TITLE FOR FULL ARTICLE)

COVID Tailwind Stock Hiding in Plain Sight ( Full Article )

As has become habitual, your author started his morning routine as do millions of others around the world, by taking his nutritional supplements. In my case, it is omega-3, vitamin D and C as well as zinc. According to a report from Fortune Business Insights in February 2020, the global supplement market was US$45.8 billion in 2018 and is expected to grow at an annual CAGR of 6.5% to reach US$74 billion by 2026. We note that this forecast was prior to the impact of the pandemic. As such, we believe this growth rate could be under-stated. While the supplement market has always been large, the pandemic has added a strong tailwind as the general population has increased its awareness of health and wellness and, in particular, the importance of strengthening one’s immune system. A recent study by the Council for Responsible Nutrition found that not only has dietary supplement usage increased during the pandemic, but more importantly, 98% of those surveyed indic

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COPORATE GOVERNANCE

Board of Directors

DAVID
KOHLER

Chief Executive Officer & DIRECTOR

I may be the luckiest guy I know. Great Family – check. Great Team at work – check. Great friend network – check.

Now, following a long run with a leading pharmaceutical company, I’ve moved into the dietary supplement business. I have the privilege of leading a group of passionate individuals looking to make a difference in the Health and Wellness space. I’m impressed daily by their creativity and energy. And when I’m not having fun at work, you can find me chasing one of my many, disparate interests. I also love to be active. Golf, hiking, cycling, running, the gym or just hanging out outdoors. So give me a call if you want to discuss any of these areas, but WARNING: if you’re a Dallas Cowboys or Montreal Canadiens fan, I may not pick up your call!

TELFER
HANSON

Chairman Of the board

The year was 1967 and 4-year-old me walking through the Toronto Maple Leafs dressing room, with a program in each hand, signed by every player on the Stanley Cup winning team. I knew I had just won the lottery. Born and raised in Moore Park Toronto, I lived in the city for the first 25 years of my life. You can catch me any day of the week watching endless hours of CNN – I am a news junkie (so my wife says). With 30 years in the investment banking world, the majority were spent in the medical device industry. I have a love for travel. During the winter months you will very easily find my wife and I lying on a beach, Kobos in hand, enjoying the sun. Reach out whenever you want to chat about sports, travel, or anything around the world as I consider myself a beacon of knowledge – or as I say – I know a whole lot about a whole little.

DAVID
GRANDIN

BOARD MEMBER

Mr. Grandin has over 20 years of experience starting companies and building teams in the high-tech sector. He combines a strong entrepreneurial skill set with an extensive background in software and integrated system development, digital media solutions and sports-related technology. Mr. Grandin has a Bachelor’s of Science in Electrical Engineering and Computer Science from the University of Wisconsin and an MBA in High Technology from Northeastern University.

NORMAN
BETTS

BOARD MEMBER

Mr. Betts has extensive experience in financing, accounting and audit in the public sector, having served on the board of several public companies. Mr. Betts served as the Minister of Finance in New Brunswick from 1999 to 2001 and as and Minister of Business in New Brunswick from 2001 to 2003. He currently sits on the boards of New Brunswick Power Corp. and Bank of Canada. Mr. Betts has a Bachelor’s of Business Administration degree from the University of New Brunswick and a PhD in Accounting and Finance from Queen’s University.

BRYAN
PEARSON

BOARD MEMBER

Mr. Pearson has three decades of experience within the loyalty and marketing sector. An internationally recognized expert, author, and speaker on customer loyalty and marketing, Mr. Pearson is the current President and CEO of LoyaltyOne, a subsidiary of Alliance Data (NYSE: ADS). A pioneer in loyalty strategies and measured marketing, Pearson and the LoyaltyOne team leverage consumer insights to influence over $160 billion in annual retail sales by working with their clients to create relevant communications and enhanced shopper experiences.

Charmaine
Crooks

Director

Charmaine Crooks is a five time Olympian, entrepreneur and community leader. Based in West Vancouver, Charmaine has over 20 years governance experience as a director on several national and international non-profit and public boards. As president and founder of NGU Consultants Inc (1997), Charmaine has provided strategic advisory and corporate development services to a variety of sectors including health, technology, sports and major events. 

Recognized in 2018 as one of Canada’s Most Powerful Top 100 by the Women’s Executive Network (WXN), Charmaine is a respected contributor to the international business community.