Greenway Reports First Quarter Fiscal 2027 Financial Results

Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian and international medical cannabis markets, today announced its unaudited financial results for the three months ended June 30, 2026 ("Q1 F2027). All amounts expressed are in Canadian dollars. During Q1 F2027, Greenway generated net revenue of $2.23 million, an increase of 38% compared with the same quarter in the previous year, while grams sold hit a record high of 2.33 million. The Company generated positive Adjusted EBITDA, and $36,778 of cash from operating activities. Q1 Fiscal 2027 Highlights Net revenue was $2,232,700, an increase of 38%, compared with $1,621,062 for the three months ended June 30, 2025. Cash cost per gram sold improved to $.69, a 30% decrease from the previous year. Average net sales for the quarter was $0.96 per gram, with a $1.30 per gram net sales average on sales excluding inventory associated with the discontinued cultivars that had previously been written down. Record 2.33 million grams or grams equivalent sold, beating previous record high by 8%. The Company generated $36,778 of cash from operating activities, compared with cash used of $865,538 in the comparative quarter. Net loss and comprehensive loss was $659,893 Adjusted EBITDA was $47,900 Cash was $1,133,209 as at June 30, 2026. Excluding amounts due to related parties, the Company had positive working capital of $4,537,711 as at June 30, 2026. Greenway product can be found in all Canadian jurisdictions, as well as in four international markets. "Q1 F2027 demonstrated Greenway's ability to deliver revenue growth and generate positive operating cash flow, even while working through a transition in our product mix," said Jamie D'Alimonte, Chief Executive Officer of Greenway. "Although the sale of legacy inventory affected pricing and margins, we remained Adjusted EBITDA positive. We believe the steps we have taken to refine our genetics, and product mix will better align our production with the markets and customers that offer the strongest long-term value, positioning Greenway to translate its operating capabilities into stronger and more consistent financial performance." "Selling 2.33 million grams in the quarter - approximately 8% above our previous quarterly record - demonstrates the throughput Greenway's team and operating platform can support," said Carl Mastronardi, President of Greenway. "Achieving that volume while reducing cash cost per gram sold by 30% to $0.69 reflects the disciplined execution of our cultivation, processing and fulfillment teams. We will continue refining our production planning and operating processes while maintaining the product quality and consistency our customers expect." Financial Summary Net revenue for Q1 F2027 was $2,232,700, compared with $1,621,062 in Q1 F2026 Cost of sales before fair value adjustments was $1,969,262, compared with $1,136,239 in Q1 F2026, reflecting a significant increase in sales volume. Cash cost per gram sold improved by 30% from Q1 F2026 to $0.69. Gross profit before fair value adjustments was $263,438, resulting in a gross margin before fair value adjustments decreased to 12%, primarily due to the lower average net sales price. Operating expenses decreased to $632,571, with an operating loss of $353,706 for a net and comprehensive loss of $659,893, and a positive Adjusted EBITDA of $47,900. Greenway generated $36,778 of cash from operating activities during the quarter, compared with cash used of $865,538 in Q1 F2026. The Company ended the quarter with cash of $1,133,209 and positive working capital of $4,537,711 when amounts due to related parties are excluded. Product Mix and International Strategy Since commencing international shipments in late 2024, Greenway has been able to expand its exposure to worldwide me.