Organic Garage Highlights Transformational Year-End With Record Sales and Profit

Organic Garage Ltd. (“Organic Garage” or the “Company”) (TSXV: OG, OTCQX: OGGFF, FRA: 9CW1), one of Canada’s leading independent organic grocers, announced the Company’s audited financial results for the year ended January 31, 2021, reporting a significant increase in year-over-year sales, gross profit and the most profitable year in Company history. The Company has also reiterated its belief that significant catalysts remain on the horizon heading into Fiscal Year 2022.

Webcast and Conference Call Details

The Company will host a webcast and conference call to discuss the financial results, business outlook and updates on The Future of Cheese on Wednesday, June 2^nd at 12:00 p.m. ET / 6:00 p.m. CEST.

Investors and interested parties can join the webcast by visiting the following link:

https://meetingconnectsales.adobeconnect.com/_a989745297/og2021/

*See Conference Call Dial-In Numbers Below

Q4 Financial Results (comparison to quarter ended January 31, 2020):

• Sales increased 32.7% to $7.3 million from $5.5 million
• Gross profit dollars increased 21.9% to $2.2 million from $1.8 million
• Net loss improved to $0.1 million from a loss of $3.0 million
• Loss per share of $(0.00) compared to loss per share of $(0.08)
• Raised $1.0 million through non-brokered private placement offering
• Working capital of $1.0 million from a working capital deficit of $(1.0) million

Net Income: The Company had a net loss of $133,200 for the quarter ended January 31, 2021 compared to a net loss of $2,975,318 for the quarter ended January 31, 2020. The increase was due to strong sales of $7,338,592, gross margin of $2,199,100 and total expenses of $2,323,808. As a percentage of sales, total expenses decreased to 31.8% during the quarter ended January 31, 2021 from 46.6% in the quarter ended January 31, 2020, excluding an impairment of goodwill of $2,233,968 incurred in January 2020.

Year-end Financial Results (comparison to year ended January 31, 2020)

• Sales increased 25.3% to $30.3 million from $24.1 million
• Gross profit dollars increased 33.2% to $8.9 million from $6.7 million
• Net loss improved to $(0.3) million from loss of $(5.1) million
• Loss per share of $(0.01) compared to loss per share of $(0.14)
• EBITDA of $2.8 million compared to $(1.8) million loss
• Cash flows from opera