GROWN ROGUE INTL INC - GRUSF STOCK NEWS

Grown Rogue International (CSE: GRIN, OTC: GRUSF) reported record revenues exceeding US$0.7M for June from its Michigan operations via Golden Harvests, achieving over 60% gross margin. The facility can yield over 5,000 pounds of premium indoor flower, with plans to expand operational capacity by an additional 25,000 sq ft to boost annual yields to over 8,000 lbs. Grown Rogue's products currently reach about 10% of Michigan dispensaries, and the company is actively enhancing its sales team to gain market share.

Grown Rogue International (CSE:GRIN, OTC:GRUSF) has issued 131,250 common shares to certain officers at a price of $0.20 per share as compensation for services rendered. This transaction is classified as a related party transaction under Multilateral Instrument 61-101, with Grown Rogue utilizing exemptions from the valuation and minority shareholder approval requirements. The shares will face a four-month hold period, expiring on December 1, 2021. Grown Rogue operates in Oregon and Michigan, focusing on cannabis production and distribution.

Grown Rogue International reports record pro-forma revenue of $2.75M for the period ended April 30, 2021, marking a sequential increase of 37% over Q1 2021. This is the sixth consecutive quarter of positive adjusted pro-forma EBITDA at $0.5M, a 137% increase. The company's balance sheet improved with assets rising 51% to $8.7M and liabilities down 52% to $3.8M. Grown Rogue expanded its production capacity in Oregon and acquired additional assets, positioning itself for future growth.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) announced the immediate transition of Steve Lightman to Special Advisor to CEO Obie Strickler, following his resignation as an independent director. Strickler praised Lightman for his contributions and highlighted his continued involvement as a major shareholder. In his new role, Lightman will focus on driving strategies for the company's expansion in current and future markets. Grown Rogue operates in the cannabis industry, providing premium products across Oregon and Michigan.

Grown Rogue International (CSE: GRIN) (OTC: GRUSF) has tripled its indoor cannabis production capacity in Oregon. The company improved its Rossanley Facility, increasing flowering space by 40% and enabling weekly harvests of approximately 300 lbs per month. Additionally, the Airport Facility has commenced operations, contributing another estimated 300 lbs per month, with plans to increase capacity to 450 lbs per month pending regulatory approval. The total production capacity now stands at approximately 8,000 lbs per year, positioning Grown Rogue as a key player in the Oregon cannabis market.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) has appointed Tom Fortner as Chief Operating Officer. With over 40 years of horticultural expertise and extensive experience in scaling operations, Fortner is set to enhance Grown Rogue's production. Under his leadership, the company aims to standardize its 200,000 sq. ft. cultivation infrastructure. Fortner's strategic leadership is expected to support Grown Rogue's recent increase of over 500 pounds of high-quality flower per month as it expands operations in Oregon and Michigan.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) announced the redemption of the remaining Class A Units of its 89% owned subsidiary, Grown Rogue Distribution, LLC. This action involved issuing 3,711,938 common shares at $0.16 per share. Additionally, the company granted 1,300,000 Stock Options to employees and consultants, also at $0.16 per share. These shares are subject to a four-month hold period. Grown Rogue's Chief Marketing Officer, Rob Rigg, has resigned, and director Steve Lightman received 1,953,125 common shares through the redemption process.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) has retired CAD$2.36M of senior secured convertible debentures ahead of maturity, saving CAD$100k in interest. The move eliminates a general security agreement over its assets and reduces term debt to CAD$1.04M, with CAD$450k currently outstanding. A cash payment of CAD$1.54M accompanied the retirement and resulted in the issuance of 6.56M common shares at $0.125 each. This strategic debt management is expected to enhance shareholder value and positions the Company to increase production capacity to 1,800lbs per month in 2022.

Grown Rogue International (CSE: GRIN, OTC: GRUSF) has announced that its partner, Canopy Management, LLC, has acquired a 60% controlling interest in Golden Harvests, LLC. This strategic move aims to boost Grown Rogue's expansion in the rapidly growing Michigan cannabis market. Canopy, controlled by CEO Obie Strickler, has received regulatory approvals and plans to exercise an option for an 87% ownership in Canopy. The deal involves a payment of USD$660,000 and the issuance of 600,000 shares in Grown Rogue.