A Letter to Shareholders from the CEO

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Dear valued shareholders,

December 1, 2017 marked my first official day as Chief Executive Officer of Emblem Corp.

As I reflect on the past year, I am incredibly proud of our many commercial accomplishments and appreciate the ongoing support of our shareholders. I want you to know that I’m reading your emails and comments online to fully understand and appreciate shareholder sentiment.  I want to thank those of you who continue to support Emblem in bringing our vision to life, and who believe in our long-term strategy.  I also want to thank those of you who have reached out to share your feedback, both positive and negative. We’re listening and learning from you every day.

Despite recent sector volatility, we expect that fundamentals will be properly valued over the long-term.  With our growing market share, revenue growth, cost management and improving margins, we are confident in our long-term shareholder value.

As you’ve witnessed, our most recent Q3 results were strong and a testament to this focus, delivering a 281% year over year revenue increase, and a 50% quarter over quarter revenue increase. Our patient count continues to grow, most recently surpassing 6,000 patients, and we met 100% of our committed targets with the provinces in which we are selling our adult-use brand, Symbl.  The response from analysts covering Emblem was positive, many of whom increased their target price on our stock as a result.

2018 has proven to be an equally rewarding and challenging year.  We have accomplished a great deal in the past 12 months, which we expect will differentiate Emblem from our competitors.  As a result, it is my firm belief that the fruits of our efforts this past year will materialize significantly in 2019.

For those of you that have followed us throughout 2018, you’ve seen first-hand our focus and determination on building Emblem into a world-class company. You’ve seen top-talent join Emblem, who we’ve been able to attract from the beverage-alcohol, pharma, food and mining sectors, many of whom are partially compensated based on share price improvement, including myself. You’ve seen our focus on flawless execution, which resulted in consistent and unwavering product availability for our patients and adult-use consumers. You’ve seen us build strong partnerships across cultivation, product innovation, retail, in Canada and Germany. Finally, you’ve seen us truly care about the kind of company we are striving to build.

But, it’s too early to pat ourselves on the backs – there are still many things to accomplish ahead. You have my firm commitment that my management team and I will never take our foot off the pedal as we aggressively work to improve shareholder value, build awareness, open new markets domestically and abroad, seek new strategic partnerships, drive product innovations, and continue to “execute execute execute” against our plan.

For those of you that continue to support us, thank you.

We’re Emblem and this is just the beginning.

Nick