Issuance of Common Shares to Camilla Advisory Group

Vancouver, B.C.Luff Enterprises Ltd. (CSE: LUFF) (“LUFF” or the “Company”) announces that its board of directors has authorized the issuance to Camilla Advisory Group of 333,900 common shares in the capital of the Company at a deemed issue price per share of CAD$0.015 (the “Share Issuance”).

The Share Issuance is being provided to Camilla Advisory Group, as payment for past services rendered to the Company by Jason Vandenberg from January 18, 2022, to March 31, 2022, in Mr. Vandenberg’s capacity as the Company’s Chief Financial Officer. In accordance with the Share Issuance, the Company is also filing with the Canadian Securities Exchange a Form 9 – Notice of Proposed Issuance.

Mr. Vandenberg who has extensive experience across diverse financial leadership positions was recently involved in the preparation and finalization of the Company’s Audited Financial Statements and accompanying Management Discussions and Analysis for the financial year ended 2021.

About Luff Enterprises Ltd.

LUFF is a hemp and wellness company, focused on providing premium quality, innovative products across the United States through its online store. Committed to plant-based science, LUFF produces and sources a suite of thoughtfully designed products to benefit a wide range of user needs.

Currently, the Company focuses on identifying unique products and formulations leveraging cannabinoids to empower people to realize the full potential of everyday life. LUFF’s scientifically formulated products are non-GMO, THC-free, 3rd party tested, and only crafted with hemp grown in the United States.

THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. 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 the forward-looking statements and information contained in this news release. Except as required by law, Luff assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information:

Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665

LUFF Enterprises Announces First Quarter Financial Results And Provides Corporate Update

Vancouver, B.C.Luff Enterprises Ltd., (CSE: LUFF) (“LUFF” or the “Company”) is pleased to announce its financial results for the first quarter of 2022 and provide a corporate update.

The first quarter of 2022 was a transitional period for the Company as it downsized its operations footprint and focused on preserving cash and working capital balances. As at March 31, 2022, Luff had cash balances of $3.2 million and positive working capital of $5.2 million.

The Company’s key strategic initiatives for the remainder of 2022 are to further expand its online sales channels in the US, and to launch a new online sales initiative in Canada. To achieve this, the Company is actively pursuing opportunities to acquire an existing licensed producer in Canada. The Company is also pursuing opportunities to establish an online wellness marketplace. This aligns with our vision of providing high-quality wellness products that empower the lives of our customers.

Luff’s direct-to-consumer business model will allow the Company to connect growers and product manufacturers to users, providing better selection and fresh product at great prices. This will result in higher gross margins and efficiencies. This model will also include implementing new and expanded direct-to consumer marketing campaigns to bring awareness to Luff’s brands and product offerings.

Philip Campbell, LUFF CEO, commented “This online marketplace strategy allows us to offer a broader range of competitively priced products while capturing intermediary margins by selling directly to the final consumer. With the large oversupply of cannabis in Canada and the compression of wholesale prices, we believe this capital efficient, technology focused strategy will allow us to scale up sales quickly and efficiently while capturing strong gross margins.”

Through the successful execution of this strategy, the Company’s ultimate goal is to become the premier online cannabis dispensary in North America.

A complete set of Luff’s interim consolidated financial statements and Management’s Discussion & Analysis for the quarter ended March 31, 2022 will be filed on SEDAR (www.sedar.com) and posted on the Company’s website (www.luffbrands.com).

About Luff Enterprises Ltd.

LUFF is a hemp and wellness company, focused on providing premium quality, innovative products across the United States through its online store. Committed to plant-based science, LUFF produces and sources a suite of thoughtfully designed products to benefit a wide range of user needs.

Currently, the Company focuses on identifying unique products and formulations leveraging cannabinoids to empower people to realize the full potential of everyday life. LUFF’s scientifically formulated products are non-GMO, THC-free, 3rd party tested, and only crafted with hemp grown in the United States.

THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. 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 the forward-looking statements and information contained in this news release. Except as required by law, Luff assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information:

Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665

LUFF Announces Appointment Of New Chief Financial Officer

Vancouver, B.C. – Luff Enterprises Ltd., (CSE: LUFF) (“LUFF” or the “Company”) is pleased to announce the appointment of Jason Vandenberg, CPA, CA as its Chief Financial Officer, effective immediately.

Jason brings over 20 years of experience across diverse financial leadership positions and has an established record of leading multiple companies through substantial growth, both organically and through business acquisitions. Jason is the Senior Vice President and Co-Founder of Camilla Advisory Group Inc., a management consulting firm in Edmonton, Alberta. Prior to that, Jason held the role of CFO for nine years at ENTREC Corporation, a leader in crane and heavy haul transportation services in Canada and the United States, and was CFO at Eveready Inc., an international industrial services company. Jason is a Chartered Professional Accountant and holds a Bachelor of Commerce, with Distinction, from the University of Alberta.

Philip Campbell, LUFF CEO, commented “Jason brings a wealth of knowledge and expertise to LUFF in all aspects of corporate finance, financial planning and corporate governance. We look forward to working with Jason as we execute our growth plans for 2022.”

About Luff Enterprises Ltd.

LUFF is a hemp and wellness company, focused on providing premium quality, innovative products across the United States through its online store. Committed to plant-based science, LUFF produces and sources a suite of thoughtfully designed products to benefit a wide range of user needs.

Currently, the Company focuses on identifying unique products and formulations leveraging cannabinoids to empower people to realize the full potential of everyday life. LUFF’s scientifically formulated products are non-GMO, THC-free, 3rd party tested, and only crafted with hemp grown in the United States.

THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. 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 the forward-looking statements and information contained in this news release. Except as required by law, Luff assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information:

Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665

LUFF Announces Resignation of CFO

Vancouver, B.C. – Luff Enterprises Ltd., (CSE: LUFF) (“LUFF” or the “Company”) today announced that Elizabeth Coles has informed the Company of her decision to resign as Chief Financial Officer to pursue other interests with immediate effect.

The Company wishes Ms. Coles well in her future endeavours, and has commenced a search to identify a new Chief Financial Officer.

About Luff Enterprises Ltd.

LUFF Brands is a CBD lifestyle company, focused on providing premium quality, innovative products across the United States. Committed to plant-based science, LUFF produces a suite of thoughtfully designed products.

The company focuses on unique formulations leveraging cannabinoids such as CBG and CBN; and boosts them with superfood ingredients to empower people to realize the full potential of everyday life. LUFF’s scientifically formulated products are non-GMO, THC-free, 3rd party tested, and only crafted with hemp grown in the United States.

THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, but are not limited to, the anticipated timing of the official launch of the Company’s new product suite. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. 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 the forward-looking statements and information contained in this news release. Except as required by law, Luff assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information:
Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665

LUFF Announces Sale of Nevada Assets and Provides Corporate Update

Vancouver, B.C. – Luff Enterprises Ltd., (CSE: LUFF) (“LUFF” or the “Company”) (all figures CAD unless otherwise stated) is pleased to announce it has completed the previously announced sale of its Nevada assets for aggregate gross proceeds of US$5 million.  Estimated expenses related to the sale will be US$20K. Concurrent to the closing of the sale the Company has fully repaid its $2 million secured loan and now has no third party debt outstanding.

This transaction continues the process of divesting non-core assets in the United States and freeing up capital to focus on high impact sales opportunities.  The Company is focused on growing sales of its core suite of hemp derived CBD wellness products primarily through online channels.  It has recently implemented a subscription model which has shown some early signs of promise to generate meaningful reoccurring revenue for the Company.

LUFF is committed to focusing on its online sales strategy and is looking to deploy this capital to continue to build out high impact sales channels as well as identifying synergistic partnership opportunities to complement this strategy. As recently disclosed in the third quarter financials, the Company recorded strong sales for the third quarter of $567,000 and $847,000 for the year to date and gross margins of 56%. While sales in the fourth quarter are expected to be lower, the switch to a subscriber model will contribute recurring revenues and a more sustainable model to build and the proceeds of this sale will allow for increased targeted advertising which will drive future sales.

LUFF CEO Philip Campbell commented, “We are happy to have concluded the sale of our Nevada assets at a very attractive price relative to our cost base. This allows us to utilize the net proceeds to continue to build out our online sales channels across North America. We now have very little outstanding debt, lean overhead costs and over $4 million in working capital to continue to build and expand the business.  Moving into 2022 we are well positioned to continue to grow our sales channels and leverage our strategic advantages.”

About Luff Enterprises Ltd.

LUFF Brands is a CBD lifestyle company, focused on providing premium quality, innovative products across the United States. Committed to plant-based science, LUFF produces a suite of thoughtfully designed products.

The company focuses on unique formulations leveraging cannabinoids such as CBG and CBN; and boosts them with superfood ingredients to empower people to realize the full potential of everyday life. LUFF’s scientifically formulated products are non-GMO, THC-free, 3rd party tested, and only crafted with hemp grown in the United States.

THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, but are not limited to, the anticipated timing of the official launch of the Company’s new product suite. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties. 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 the forward-looking statements and information contained in this news release. Except as required by law, Luff assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information:
Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665