Narz sits down to chat with Gabe Olivero, host of SuperLate at 368, and they duel it out in a game of Tekken.
Narz sits down to chat with Gabe Olivero, host of SuperLate at 368, and they duel it out in a game of Tekken.
Israel would "increase both the intensity of the attacks and the rate of attacks," Prime Minister Benjamin Netanyahu said.
Ben Roethlisberger and the Steelers face the toughest strength of schedule in 2021. Check out the list to see how the 49ers fared.
As the Mets and Baltimore Orioles began their two-game set at Citi Field on Tuesday night, Jacob deGrom met with reporters to discuss being placed on the 10-day IL with right side tightness.
A defensive miscue in the sixth inning Tuesday cost the Rangers in a 4-2 loss at San Francisco.
Not for distribution to U.S. News wire services or dissemination in the U.S. VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) and Keg Restaurants Ltd (“KRL”) are pleased to announce the financial results of the Fund for the first quarter of 2021. HIGHLIGHTS KRL’s restaurants closed for 53.4% of the quarterKRL system sales down 52.4% to $68.6M for the 13-week periodRoyalty Pool sales down 51.9% to $68.6M for the quarterDistributable cash down 76.7% to 12.0 cents/Fund unit for the quarterPayout ratio was 140.6% for the first quarter of 2021 Royalty Pool sales reported by the 106 Keg restaurants in the Royalty Pool were $68,575,000 for the quarter, a decrease of $74,078,000 or 51.9% from the comparable quarter of the prior year. Royalty income decreased by $2,963,000 or 51.9% from $5,706,000 in the three months ended March 31, 2020 to $2,743,000 in the three months ended March 31, 2021. Distributable cash available to pay distributions to public unitholders decreased by $3,184,000 from $4,153,000 (36.6 cents/Fund unit) to $969,000 (8.5 cents/Fund unit) for the quarter. Distributions paid to Fund unitholders decreased by $1,859,000 from $3,222,000 (28.4 cents/Fund unit) to $1,362,000 (12.0 cents/Fund unit) during the first quarter of the current year. During the first quarter of 2020, prior to any material impact on sales from the Covid-19 pandemic, distributions paid to Fund unitholders were 9.46 cents/Fund unit per month. As a result of the loss of sales from government mandated restaurant closures in early 2021, distributions to Fund unitholders were reduced to 5.0 cents/Fund unit for the month of January 2021, and 3.5 cents/Fund unit for each of the months of February and March of 2021. The payout ratio for the quarter was 140.6% as compared with 77.6% for the comparable quarter of the prior year. The Fund remains financially well positioned with cash on hand of $2,549,000 and a positive working capital balance of $3,256,000 as at March 31, 2021. “Once again, the headwinds presented by the COVID-19 pandemic and the provincial governments’ related restrictions on full-service dining have been the driving forces behind our disappointing sales for the quarter.” said David Aisenstat, CEO of Keg Restaurants Ltd. “It appears highly unlikely that most Canadian restaurants will see any meaningful relief from the full and partial shutdowns before the end of June, so our expectations for the second quarter remain relatively low. On the brighter side, where dining has returned in other countries, including the U.S., restaurants have been extremely busy. Our belief is the pent-up demand and the desire for people to get back out in the ‘real’ world will lead to a swift and strong recovery for restaurants in Canada as well. With our strong competitive position and loyal guests, we are hopeful that The Keg in particular will see very solid sales recoveries through the summer and the balance of 2021.” FINANCIAL HIGHLIGHTS ($000’s except per unit amounts)Jan. 1 to Mar. 31, 2021 Jan. 1 to Mar. 31, 2020 Restaurants in the Royalty Pool 106 106 Royalty Pool sales (1) $68,575 $142,653 Royalty income (2)$2,743 $5,706 Interest income (3) 1,054 1,070 Total income $3,797 $6,776 Administrative expenses (4) (105) (98)Interest and financing expenses (5) (97) (141)Operating income $3,595 $6,537 Distributions to KRL (6) (1,844) (2,675)Profit before fair value gain (loss) and income taxes $1,751 $3,862 Fair value gain (loss) (7) (7,051) 32,600 Income tax recovery (expense) (8) (473) (883)Profit (loss) and comprehensive income (loss) $(5,773) $35,579 Distributable cash before SIFT tax (9) $1,426 $5,175 Distributable cash (10) $969 $4,153 Distributions to Fund unitholders (11) $1,362 $3,222 Payout ratio (12) 140.6% 77.6%Per Fund unit information (13) Profit before fair value gain (loss) and income taxes $.154 $.340 Profit (loss) and comprehensive income (loss) $(.508) $3.134 Distributable cash before SIFT tax (9) $.126 $.456 Distributable cash (10)$.085 $.366 Distributions to Fund unitholders (11) $.120 $.284 Notes:(1)Royalty Pool sales are the gross sales reported by Keg Restaurants included in the Royalty Pool in any period. As of March 31, 2021, the Royalty Pool includes 106 Keg restaurants, 51 of which are owned and operated by KRL and its subsidiaries, (41 in Canada and 10 in the United Sates), and 55 Keg restaurants which are owned and operated by Keg franchisees (all of which are in Canada).(2) The Fund, indirectly through The Keg Rights Limited Partnership (the “Partnership”), earns royalty income equal to 4% of gross sales of Keg restaurants in the Royalty Pool.(3) The Fund directly earns interest income on the $57.0 million Keg Loan, with interest income accruing at 7.5% per annum, payable monthly.(4)The Fund, indirectly through the Partnership, incurs administrative expenses and interest on the operating line of credit, to the extent utilized. (5)The Fund, indirectly through The Keg Holdings Trust (the “Trust”), incurs interest expense on the $14.0 million term loan and amortization of deferred financing charges.(6)Represents the distributions of the Partnership attributable to KRL during the respective periods on the Class A, entitled Class B, and Class D Partnership units (“Exchangeable units”) and Class C Partnership units held by KRL. The Exchangeable units are exchangeable into Fund units on a one-for-one basis. These distributions are presented as interest expense in the financial statements. (7)Fair value gain (loss) is the non-cash decrease or increase in the market value of the Exchangeable units held by KRL during the respective period. Exchangeable units are classified as a financial liability under IFRS. The Fund is required to determine the fair value of that liability at the end of each reporting period and adjust for any increase or decrease, taking into consideration the sale of any Exchangeable units and Additional Entitlements during the same period.(8)Income taxes include the Specified Investment Flow-through Trust tax (“SIFT tax”) expense, and either a non-cash deferred tax expense or deferred tax recovery. The deferred tax expense or recovery primarily results from differences in income recognition between the Fund’s accounting methods and enacted tax laws. It is also partially due to temporary differences between accounting and tax bases of the Keg Rights owned by the Partnership.(9)Distributable cash before SIFT tax is defined as the periodic cash flows from operating activities as reported in the IFRS condensed consolidated financial statements, including the effects of changes in non-cash working capital, plus SIFT tax paid (including current year instalments), less interest and financing fees paid on the term loan, less the Partnership distributions attributable to KRL through its ownership of Exchangeable units. Distributable cash before SIFT tax is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS, and therefore may not be comparable to similar measures presented by other issuers.(10)Distributable cash is the amount of cash available for distribution to the Fund’s public unitholders and is calculated as distributable cash before SIFT tax, less current year SIFT tax expense. Distributable cash is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS, and therefore may not be comparable to similar measures presented by other issuers. However, the Fund believes that distributable cash, both before and after SIFT tax, provides useful information regarding the amount of cash available for distribution to the Fund’s public unitholders.(11)Distributions to Fund unitholders include all regular monthly cash distributions paid to Fund unitholders during a period and any special distributions, either declared or paid, to Fund unitholders in the same period.(12)Payout ratio is computed as the ratio of aggregate cash distributions paid during the period plus any special distributions declared or paid during the same period (numerator) to the aggregate distributable cash of the period (denominator).(13) All per unit amounts are calculated based on the weighted average number of Fund units outstanding, which are those units held by public unitholders during the respective period. The weighted average number of Fund units outstanding for the three months ended March 31, 2021 were 11,353,500 (three months ended March 31, 2020 – 11,353,500). The Fund (TSX: KEG.UN) is a limited purpose, open-ended trust established under the laws of the Province of Ontario that, through The Keg Rights Limited Partnership, owns certain trademarks and other related intellectual property used by Keg Restaurants Ltd. (“KRL”). In exchange for use of those trademarks, KRL pays the Fund a royalty of 4% of gross sales of Keg restaurants included in the royalty pool. Vancouver-based KRL is the leading operator and franchisor of steakhouse restaurants in Canada and has a substantial presence in select regional markets in the United States. KRL continues to operate The Keg restaurant system and expand that system through the addition of both corporate and franchised Keg steakhouses. KRL has been named one of the “50 Best Employers in Canada” for the past seventeen years by Aon Hewitt. For more information on our brand, visit www.kegsteakhouse.com. This press release may contain certain "forward looking" statements reflecting The Keg Royalties Income Fund's current expectations in the casual dining segment of the restaurant food industry. Investors are cautioned that all forward looking statements involve risks and uncertainties, including those relating to the Keg’s ability to continue to realize historical same store sales growth, changes in market and existing competition, new competitive developments, and potential downturns in economic conditions generally. Additional information on these and other potential factors that could affect the Fund's financial results are detailed in documents filed from time to time with the provincial securities commissions in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of the prospectus, nor shall there be any sale of the Fund units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state, province or jurisdiction. The Keg Royalties Income Fund units have not been, and will not be registered under the U.S. Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an application for exemption from the registration requirement under U.S. securities laws. The Trustees of the Fund have approved the contents of this press release. CONTACT: For further information: Neil Maclean, Chief Financial Officer Tel: (604) 821-6416 email@example.com www.kegincomefund.com
The book’s reading by a teacher to her first-grade class has jostled a hornet’s nest — but with most of the buzz, apparently, coming from outside of the community.
UK singer Dua Lipa won two awards and gave a message to PM Boris Johnson, at the in-person event.
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Fort Lauderdale, FL, May 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Veritas Farms, Inc. (OTCQB: VFRM) (“Veritas Farms” or the “Company”), a vertically integrated CBD and Wellness company focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, announces that on May 11, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with an existing shareholder, pursuant to which the Company contemporaneously sold to the Purchaser an aggregate of (a) 2,000,000 shares of its Series A Convertible Preferred Stock, and (b) 1,000,000 shares of its Series B Convertible Preferred Stock, and as a result of the transaction and the voting rights accorded the preferred stock issued, the Purchaser now holds approximately 88% of the voting power of the Company and accordingly, a “Change in Control” has occurred. For more information, please refer to the Form 8-K that the Company filed with the Securities and Exchange Commission in relation to the transaction. Pursuant to the SPA, the Company announces the resignation of Alexander Salgado, CEO and Co-Founder. Mr. Salgado set out on a mission several years ago to produce the best and purest quality hemp products on the market, with the goal of offering customers a natural remedy for their ailments. He led the company to scalability by expanding to 8,000 retail stores and navigating Veritas Farms to continued success via their D2C e-commerce website in 2020 when the pandemic hit. Mr. Salgado will be devoting more time to his family and other endeavors in the wellness community. Alexander Salgado, CEO, and Co-Founder of Veritas Farms, said, “I am proud to have led Veritas Farms for so many years. I am looking forward to my next path and am honored to pass the torch to the new management team that I know will grow the company to even greater success.” Veritas Farms has named Stephen Johnson as the new CEO. Mr. Johnson has over 20 years of executive management experience, including as CEO of OmniComm Systems, a publicly held health sciences company focusing on the delivery of technology products for clinical research. Prior to that Mr. Johnson held management positions in sales and marketing for Oracle Corporation, PHT, Inc. and Pfizer Pharmaceuticals. “Much of my recent career has been focused on growing companies and building new product divisions to leading positions in the industry,” said Stephen Johnson, CEO of Veritas Farms. “I am honored to be taking on this new position with Veritas Farms. I am looking forward to working with the talented and dedicated team at Veritas Farms as we continue our journey to becoming the market leading provider of sustainably produced, full spectrum CBD products.” About Veritas Farms, Inc. Veritas Farms, Inc. (OTCQB: VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils, and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facility in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers. Veritas Farms full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, skincare products, and pet products in a variety of sizes, formats, and flavors. All Veritas Farms brand products are tested for strength and purity by third-party, ISO certified laboratories. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov. For additional information and online product purchase, visit www.theveritasfarms.com. Veritas Farms, Inc. - Investor Contact Toll-Free: 833-691-4367 E-mail: firstname.lastname@example.org Veritas Farms, Inc. - Social Media Instagram: www.instagram.com/veritasfarmsofficial/ Facebook: www.facebook.com/VeritasFarmsOfficial/ LinkedIn: www.linkedin.com/company/veritasfarms/ Twitter: www.twitter.com/theveritasfarms Cautionary Language Concerning Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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Israel’s ambassador to the U.S. accused Representative Rashida Tlaib (D., Mich.) of “stoking tensions” with her recent comments about the conflict between Israel and Palestinians and suggested her words “encourage terror groups such as Hamas” to “carry out attacks against Jews.” “Congresswoman @RashidaTlaib maybe you should open your eyes to the whole picture? Islam’s 3rd holiest site is being used to stockpile Molotov cocktails and rocks that are being lobbed at the police and at Jewish worshippers praying at the Western Wall, below the Temple Mount,” ambassador Gilad Erdan wrote in a tweet on Monday. Congresswoman @RashidaTlaib maybe you should open your eyes to the whole picture? Islam’s 3rd holiest site is being used to stockpile Molotov cocktails and rocks that are being lobbed at the police and at Jewish worshippers praying at the Western Wall, below the Temple Mount. 1/4 https://t.co/gsdiXL6BSY pic.twitter.com/5OtcBKgUle — Ambassador Gilad Erdan גלעד ארדן (@giladerdan1) May 10, 2021 “Congresswoman, instead of calling for peace and calm, your tweets are the stoking tensions,” Erdan added in another post. “Maybe you don’t realize that your words encourage terror groups such as Hamas to fire rockets into civilian populations and carry out attacks against Jews.” Congresswoman, instead of calling for peace and calm, your tweets are the stoking tensions. Maybe you don't realize that your words encourage terror groups such as Hamas to fire rockets into civilian populations and carry out attacks against Jews. 4/4 — Ambassador Gilad Erdan גלעד ארדן (@giladerdan1) May 10, 2021 Erdan was responding to Tlaib’s earlier tweets in which she criticized the Jewish state over violent encounters between Israeli police and Palestinians last week at the Al-Aqsa mosque compound, a holy site in Jerusalem that is sacred to both Muslims and Jews. “I was 7 years old when I first prayed at the Al Aqsa with my sity. It’s a sacred site for Muslims. This is equivalent to attacking the Church of the Holy Sepulchre for Christians, or the Temple Mount for Jews. Israel attacks it during Ramadan. Where’s the outrage @POTUS?” wrote Tlaib, the first Palestinian-American woman elected to Congress. I was 7 years old when I first prayed at the Al Aqsa with my sity. It's a sacred site for Muslims. This is equivalent to attacking the Church of the Holy Sepulchre for Christians, or the Temple Mount for Jews. Israel attacks it during Ramadan. Where's the outrage @POTUS? https://t.co/Q4gGBrCOof — Rashida Tlaib (@RashidaTlaib) May 10, 2021 “American taxpayer money is being used to commit human rights violations. Congress must condition the aid we send to Israel, and end it altogether if those conditions are not followed. Statements aren’t working @SecBlinken. Enough is enough,” she wrote in another tweet directed at U.S. Secretary of State Antony Blinken. American taxpayer money is being used to commit human rights violations. Congress must condition the aid we send to Israel, and end it altogether if those conditions are not followed. Statements aren't working @SecBlinken. Enough is enough. — Rashida Tlaib (@RashidaTlaib) May 10, 2021 On Tuesday, the Israel Defense Forces declared that the country “is under attack” and called on 5,000 reserve soldiers to aid its defense against rockets from Gaza. One day earlier, 26 Palestinians, including nine children, were killed in Gaza, mostly by Israeli airstrikes, according to Gaza health officials. The IDF said at least 16 of those killed were militants. During that time, Gaza militants fired hundreds of rockets at Israel, killing two Israeli civilians and wounding ten others. Every red dot marks sirens in Israel over the last 30 minutes: Israel is under attack. pic.twitter.com/1CSOFn8NBi — Israel Defense Forces (@IDF) May 11, 2021 White House Press Secretary Jen Psaki said Monday that the Biden administration has “serious concerns” regarding the situation. A readout from a call between national security adviser Jake Sullivan and Israel national security adviser Meir Ben-Shabbat noted that Sullivan had “highlighted recent engagements by senior U.S. officials with senior Israeli and Palestinian officials and key regional stakeholders to press for steps to ensure calm, deescalate tensions, and denounce violence.” “Mr. Sullivan also reiterated the United States’ serious concerns about the potential evictions of Palestinian families from their homes in the Sheikh Jarrah neighborhood,” the readout added. “They agreed that the launching of rocket attacks and incendiary balloons from Gaza towards Israel is unacceptable and must be condemned.”
May 11—The South Dakota High School Baseball Hall of Fame announced its 2021 class of 12 new players, two coaches and two teams Tuesday. The class is headlined by players such as Bon Homme's Doug Vanecek, Mitchell's Brett Young, Parkston's Jeremy Sudbeck and Sioux Falls O'Gorman's Trey Krier. Coach Bob Malloy is also set to be inducted after leading Parkston to the Class B state title in 2007 ...
Revenues rose to $86.6 million, up 27.3% y-o-yComparable store sales up 24.5% y-o-yAdjusted EBITDA attributed to shareholders up 50.2% and on a per diluted share basis up by 48.0% y-o-y MONTRÉAL, May 11, 2021 (GLOBE NEWSWIRE) -- New Look Vision Group Inc. ("New Look Vision" or the "Company") (TSX: BCI), a leader in the Canadian retail optical industry with stores across Canada and in Florida, reported financial results today for the 13 week periods ended March 27, 2021 (“Q1 2021”), and provided updates on actions in response to COVID-19, store re-openings, on omnichannel and facility consolidation. This press release should be read in conjunction with the Company’s management discussion and analysis and consolidated financial statements for fiscal 2020, which are available on the Company’s website at www.newlookvision.ca/investors and under the Company's profile on SEDAR at www.sedar.com. Q1 2021 highlights, excluding the impact of IFRS 16, where applicable are: Revenues increased by 27.3% compared to the first quarter of last year to reach $86.6 million as a result of comparable store sales, revenues from newly acquired stores and COVID-19 temporary store closures in March 2020 as opposed to essential services exempted lockdown in 2021.Comparable store sales were up 24.5% as a result of enhanced store operating procedures and a shift in customer behavior.Adjusted EBITDA attributed to shareholders reached $17.1 million, a 72.2% increase over the first quarter of last year.Net earnings attributed to shareholders reached $4.2 million, a 2,195.7% increase compared to the first quarter of last year or 2,600.0% on a per diluted share basis.Adjusted net earnings attributed to shareholders increased by 352.1% compared to the first quarter of last year (358.3% on a per diluted share basis) to $8.7 million.Compared to the first quarter of last year, cash flows related to operating activities reached $9.2 million, an increase of 14.6% or 13.7% on a per diluted share basis.Strong cash position at quarter end of $57.2 million coupled with available credit of $49.4 million.Net debt was $169.1 million compared to $175.5 million as of Q1 2020.The Company actively continued to pursue its significant pipeline of acquisition opportunities in Canada and the United States and acquired 6 stores in the quarter. President & CEO's comments Antoine Amiel, the President and CEO of New Look Vision, stated that: “New Look Vision carried forward its momentum from the second half of 2020 into 2021 with comparable sales growth rising to 24.5% despite the extended COVID-19 restrictions during the quarter. We continued consolidating the fragmented Canadian retail optical market, with six stores acquired since the beginning of the year. More importantly, we’d like to take this time to thank the dedication of the team in the face of the ongoing challenging environment." COVID-19 and Store re-opening During Q1 2021, the Company faced renewed COVID-19 regional restrictions in the market in which it operates despite the Company posted another strong quarter in spite of the ongoing impact of COVID-19. In advance of reopening its stores, the Company issued stringent health and safety procedures, undertook extensive training in the form of in-store rehearsals and is providing each location with prescribed personal protection equipment. COVID-19 has significantly altered the way optical retailers operate on both brick and mortar and eCommerce levels. As consumers increasingly move online, New Look Vision’s investments in omnichannel experience and anticipation of the evolving consumer journey complements and enhances its physical retail presence. This approach increases accessibility to differentiated, customized and precise eyecare, while ensuring safety for consumers across Canada. Our central lens processing facility pivoted to begin producing safety eyewear for use in health care facilities. Status of Dividend Effective March 19, 2020, the Company's Board of Directors suspended the regular quarterly dividend and the corresponding dividend reinvestment plan until further notice, due to the pending impact of the pandemic on the Company's business and liquidity. The decision to declare a dividend is made quarterly when the financial statements for a quarter or a financial year are made available to the Board of Directors. Although there is no guarantee that a dividend will be declared in the future, New Look Vision and its predecessor, Benvest New Look Income Fund, have regularly paid a dividend or distribution since 2005 through 2019. As at April 30, 2021, New Look Vision had 15,660,199 Class A common shares issued and outstanding. Arrangement Agreement to be Acquired On March 18, 2021, the Company announced that it had entered into an arrangement agreement to be acquired by NL1 AcquireCo Inc., an entity created by a group composed of funds managed by FFL Partners, LLC, Caisse de dépôt et placement du Québec, and the Dr. H. Doug Barnes Family. The Shareholders meeting is scheduled to be held as a virtual-only meeting conducted by live audio webcast at https://web.lumiagm.com/238565705 on May 14, 2021 at 10:00 a.m. Attachments Table A - HighlightsTable B - Impact of IFRS 16Table C - Consolidated Statement of EarningsTable D - Reconciliation of Net Earnings to Adjusted EBITDA and Adjusted EBITDA Attributed to ShareholdersTable E - Reconciliation of Net Earnings Attributed to Shareholders to Adjusted Net Earnings Attributed to ShareholdersTable F - Reconciliation of Free Cash Flow and Adjusted Cash Flows Related to Operating Activities a) EBITDA, adjusted EBITDA, adjusted EBITDA attributed to shareholders, adjusted net earnings, adjusted net earnings attributed to shareholders, free cash flow and adjusted cash flows related to operating activities are not recognized measures under IFRS and may not be comparable to similar measures used by other entities.About New Look Vision Group Inc. New Look Vision is a leader in the eye care industry in Canada with a network of 408 stores, as at May 11, 2021, operating mainly under the New Look Eyewear, Vogue Optical, Greiche & Scaff, Iris, Edward Beiner banners (in the US) and The Vision Clinic in addition to, laboratory facility using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.ca in the Investors section. All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the plans, intentions or expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law. For additional information please see our website at www.newlookvision.ca. For enquiries, please contact Lise Melanson (514) 877-4119. TABLE A NEW LOOK VISION GROUP INC.HighlightsFor the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts Mar. 27, 2021 Mar. 28, 2020 Mar. 27, 2021 (excl. IFRS 16) Mar. 28, 2020 (excl. IFRS 16) Revenues$86,583 $68,034 $86,583 $68,034 Variance %27.3 % 27.3 % Variance in comparable store sales orders(a)24.5 % 2.1 % 24.5 % 2.1 % Adjusted EBITDA attributed to shareholders(b)$23,134 $15,403 $17,130 $9,950 Variance %50.2 % 72.2 % % of revenues26.7 % 22.6 % 19.8 % 14.6 % Per share (diluted)$1.45 $0.98 $1.08 $0.64 Variance %48.0 % 68.8 % Net earnings (loss) attributed to shareholders$3,674 ($317)$4,224 $184 Variance %1,259.0 % 2,195.7 % % of revenues4.2 % (0.5 %) 4.9 % 0.3 % Net earnings (loss) per share Per share (diluted)$0.23 ($0.02)$0.27 $0.01 Variance %1,250.0 % 2,600.0 % Adjusted net earnings attributed to shareholders(b)$8,194 $1,433 $8,744 $1,934 Variance %471.8 % 352.1 % % of revenues9.5 % 2.1 % 10.1 % 2.8 % Per share (diluted)$0.51 $0.09 $0.55 $0.12 Variance %466.7 % 358.3 % Cash flows related to operating activities$14,190 $13,477 $9,196 $8,024 Variance %5.3 % 14.6 % Per share (diluted)$0.89 $0.86 $0.58 $0.51 Variance %3.5 % 13.7 % Free cash flow(b)(c)$12,002 $9,922 $7,008 $4,469 Variance %21.0 % 56.8 % Per share (diluted)$0.75 $0.63 $0.44 $0.29 Variance %19.0 % 51.7 % Total debt(c)$226,239 $186,401 $226,239 $186,401 Net debt / Adjusted EBITDA attributed to shareholders(b)(e)1.93 2.96 2.64 3.25 Number of stores(d)406 393 406 393 a)Comparable stores are stores which have been operating for at least 12 months. Revenues are recognized at time of delivery of goods to customers, however management measures the comparable store performance on the basis of sales orders, whether delivered or not.b)Adjusted EBITDA attributed to shareholders, adjusted net earnings attributed to shareholders, free cash flow and comparable store sales orders are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. Refer to Table D and Table E for the reconciliations of these measures to net earnings, and to Table F for the reconciliation of cash flows.c)Free cash flow is defined as operating cash flows less acquisitions of property, plant and equipment.d)Total debt is defined as long-term debt excluding IFRS 16 lease liabilities.e)Net debt is defined as total debt less cash. Adjusted EBITDA attributed to shareholders represents the amount over the last four rolling quarters.f)The increase in the number of stores in the last twelve months reflects the acquisition of 25 stores net of 1 planned merger, 9 planned closures and the sale of one clinic. TABLE B NEW LOOK VISION GROUP INC.Impact of IFRS 16For the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts The Company has adopted IFRS 16 Leases effective Q1 2020. This standard replaces IAS 17 Leases. The Company has applied a modified retrospective approach; the operating results of previous fiscal periods have not been restated. The adoption of this standard has impacted the Company’s financial results since 2020. Certain occupancy-related expenses previously recorded under the caption other operating expenses are now recorded as depreciation and interest expense. This change has resulted in a reduction to Other operating expenses with a corresponding increase in EBITDA when compared to the same metrics under IAS 17. Depreciation and financial expenses have increased as a result of the application of the standard. The impact of IFRS 16 on the key metrics in the first quarters ended March 27, 2021 and March 28, 2020 are summarized in the table below: 2021 Impact of IFRS 16 2021 (excl. IFRS 16)2020 Impact of IFRS 162020(excl. IFRS 16)Change (excl. IFRS 16) $ $ $ $ $ $ $ Adjusted EBITDA attributed to shareholders(a)$23,134 ($6,004)$17,130 $15,403 ($5,453)$9,950 $7,180 % of revenues26.7 % (6.9 %)19.8 % 22.6 % (8.0 %)14.6 % 5.2 % Per share (diluted)$1.45 $(0.37)$1.08 $0.98 $(0.35)$0.63 $0.45 Net earnings (loss) attributed to shareholders$3,674 $550 $4,224 ($317)$501 $184 $4,040 % of revenues4.2 % 0.6 % 4.9 % (0.5 %)0.7 % 0.2 % 4.7 % Per share (diluted)$0.23 $0.04 $0.27 $(0.02)$0.03 $0.01 $0.26 Adjusted net earnings attributed to shareholders(a)$8,194 $550 $8,744 $1,433 $501 $1,934 $6,810 % of revenues9.5 % 0.6 % 10.1 % 2.1 % 0.7 % 2.8 % 7.3 % Per share (diluted)$0.51 $0.03 $0.55 $0.09 $0.03 $0.12 $0.43 Cash flows related to operating activities$14,190 ($4,994)$9,196 $13,477 ($5,453)$8,024 $1,172 Per share (diluted)$0.89 $(0.31)$0.58 $0.86 $(0.35)$0.51 $0.07 Free cash flow(a)$12,002 ($4,994)$7,008 $9,922 ($5,453)$4,469 $2,539 Per share (diluted)$0.75 ($0.31)$0.44 $0.63 ($0.35)$0.28 $0.16 a) Adjusted EBITDA attributed to shareholders, adjusted net earnings attributed to shareholders and free cash flow are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. Refer to Table D and Table E for the reconciliations of these measures to net earnings, and to Table F for the reconciliation of cash flows. TABLE C NEW LOOK VISION GROUP INC.Consolidated Statement of EarningsFor the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts 2021 2020 $ $ Revenues86,583 68,034 Materials consumed19,747 15,638 Employee remuneration expenses29,317 23,617 Other operating expenses18,402 14,300 Earnings before depreciation, amortization, loss on disposal, financial expenses, and income from investments in joint ventures and associates19,117 14,479 Depreciation, amortization and loss on disposal10,683 9,313 Financial expenses, net of interest revenue3,892 5,629 Earnings (loss) before income from investments in joint ventures and associates and income taxes4,542 (463)Income from investments in joint ventures and associates898 185 Earnings (loss) before income taxes5,440 (278)Income taxes Current1,063 972 Deferred415 (978)Total income taxes1,478 (6)Net earnings (loss)3,962 (272)Net earnings (loss) attributed to: Non-controlling interest288 45 Shareholders of New Look Vision3,674 (317) 3,962 (272)Net earnings (loss) per share Basic0.23 (0.02)Diluted0.23 (0.02) TABLE D NEW LOOK VISION GROUP INC.Reconciliation of Net Earnings to Adjusted EBITDA and Adjusted EBITDA Attributed to ShareholdersFor the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts 202120202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Net earnings (loss)3,962 (272)4,532 229 Depreciation, amortization and loss on disposal10,683 9,313 5,570 4,603 Financial expenses, net of interest revenue3,892 5,629 2,322 4,195 Income taxes1,478 (6)1,681 184 EBITDA(a)20,015 14,664 14,105 9,211 Equity-based compensation(b)414 168 414 168 Acquisition-related costs(c)701 432 701 432 Other non-comparable items(d)2,362 170 2,362 170 Adjusted EBITDA(a)23,492 15,434 17,582 9,981 Variance in $8,058 7,601 Variance in %52.2 % 76.2 % % of revenues27.1 % 22.7 % 20.3 % 14.7 % Per share (basic)1.50 0.99 1.12 0.64 Per share (diluted)1.48 0.99 1.10 0.64 The following table represents the adjusted EBITDA available to New Look Vision shareholders, which takes into consideration the investments in joint ventures and associates. 202120202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Adjusted EBITDA(a)23,492 15,434 17,582 9,981 Income from investments in joint ventures and associates(898)(185)(921)(185)EBITDA from investments in joint ventures and associates1,313 397 1,104 397 EBITDA attributed to non-controlling interest(773)(243)(635)(243)Adjusted EBITDA attributed to shareholders(a)23,134 15,403 17,130 9,950 EBITDA, adjusted EBITDA and adjusted EBITDA attributed to shareholders are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. New Look Vision believes that EBITDA, adjusted EBITDA and adjusted EBITDA attributed to shareholders are useful financial metrics as they assist in determining the ability to generate cash from operations. Investors should be cautioned that EBITDA, adjusted EBITDA and adjusted EBITDA attributed to shareholders should not be considered as an alternative to net earnings or cash flows as determined under IFRS.Equity-based compensation represents the fair value of New Look Vision stock options vested in the period.Acquisition-related costs are composed of wages and professional fees specifically incurred in the business acquisition process, whether an acquisition is completed or not.Other non-comparable items include one-time expenses (income) connected with restructuring and transition related matters. TABLE E NEW LOOK VISION GROUP INC.Reconciliation of Net Earnings Attributed to Shareholders to Adjusted Net Earnings Attributed to ShareholdersFor the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts 2021 20202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Net earnings (loss) attributed to shareholders3,674 (317)4,224 184 Amortization of acquired intangibles2,257 1,648 2,257 1,648 Acquisition-related costs701 432 701 432 Equity-based compensation414 168 414 168 Other non-comparable items2,362 170 2,362 170 Related income taxes(1,214)(668)(1,214)(668)Adjusted net earnings attributed to shareholders(a)8,194 1,433 8,744 1,934 Variance in $6,761 6,810 Variance in %471.8 % 352.1 % % of revenues9.5 % 2.1 % 10.1 % 2.8 % Per share amount Basic0.52 0.09 0.56 0.12 Diluted0.51 0.09 0.55 0.12 a) Adjusted net earnings attributed to shareholders are not a recognized measure under IFRS and may not be comparable to similar measures used by other entities. New Look Vision believes that this disclosure provides useful information as it allows the comparison of net results excluding amortization of acquired intangibles, acquisition-related costs, equity-based compensation, other non-comparable items and related income taxes, which may vary significantly from quarter to quarter. Investors should be cautioned that adjusted net earnings should not be considered as an alternative to net earnings as determined under IFRS. TABLE F NEW LOOK VISION GROUP INC.Reconciliation of Free Cash Flow and Adjusted Cash Flows Related to Operating ActivitiesFor the years ended March 27, 2021 and March 28, 2020 In thousands of Canadian dollars, except per share amounts 202120202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Earnings (loss) before income taxes5,440 (278)6,213 413 Adjustments: Depreciation, amortization and loss on disposal10,683 9,313 5,570 4,603 Equity-based compensation414 168 414 168 Financial expenses4,070 5,772 2,500 4,338 Interest revenue(178)(143)(178)(143)Other528 (712)528 (712)Income from investments in joint ventures and associates(898)(185)(921)(185)Income taxes paid(1,575)(1,173)(1,575)(1,173)Cash flows related to operating activities, before changes in working capital items18,484 12,762 12,551 7,309 Changes in working capital items(4,294)715 (3,355)715 Cash flows related to operating activities14,190 13,477 9,196 8,024 Free cash flow 202120202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Cash flows related to operating activities14,190 13,477 9,196 8,024 Acquisitions of property, plant and equipment(2,188)(3,555)(2,188)(3,555)Free cash flow(a)12,002 9,922 7,008 4,469 a)Free cash flow is not a recognized measure under IFRS and may not be comparable to similar measures used by other entities. New Look Vision believes that this disclosure provides useful information as it provides insight on operating cash flows available after considering necessary capital investments. Investors should be cautioned that free cash flow should not be considered as an alternative to cash flows related to operating activities as determined under IFRS. Adjusted cash flows related to operating activities 202120202021 (excl. IFRS 16)2020 (excl. IFRS 16) $ $ $ $ Cash flows related to operating activities14,190 13,477 9,196 8,024 Income taxes paid1,575 (1,173)1,575 (1,173)Changes in working capital items4,294 (715)3,355 (715)Acquisition-related costs701 432 701 432 Other non-comparable items2,362 170 2,362 170 Adjusted cash flows related to operating activities(a)23,122 12,191 17,189 6,738 a)Adjusted cash flows related to operating activities are not a recognized measure under IFRS and may not be comparable to similar measures used by other entities. New Look Vision believes that this disclosure provides useful information as it allows the comparison of net operating cash flows excluding income taxes paid, changes in working capital items, acquisition-related costs and other non-comparable items, which may vary significantly from quarter to quarter. Certain occupancy-related expenses previously recorded in the cash flows related to operating activities are now presented in the cash flows related to financing activities. Investors should be cautioned that adjusted cash flows related to operating activities should not be considered as an alternative to cash flows related to operating activities as determined under IFRS.