Glass House Brands Provides Notice of Warrant Acceleration

Article content

LONG BEACH, Calif. and TORONTO, June 23, 2026 (GLOBE NEWSWIRE) — Glass House Brands Inc. (“Glass House” or the “Company”) (CBOE CA: GLAS.A.U) (OTCQX: GLASF) today announced that it has elected to exercise its rights under the terms of a warrant indenture dated August 31, 2022 (the “2022 Warrant Indenture”) governing certain share purchase warrants of the Company (the “Series B and C Warrants”) and a warrant indenture dated August 23, 2023 (the “2023 Warrant Indenture”), governing certain share purchase warrants of the Company (the “Series D Warrants”) to accelerate the expiry date of such warrants.

Article content

Article content

Pursuant to the 2022 Warrant Indenture, the Company may accelerate the expiry of the Series B and C Warrants (the “Series B and C Acceleration”) to the date that is 30 calendar days after notice is provided to the holders of the Series B and C Warrants, if the closing sale price of the listed shares of the Company is at or above US$12.00 per share (being 240% of the current exercise price of the Series B and C Warrants), for any 10 trading days within a 15 consecutive trading day period.

Article content

Article content

Article content

Pursuant to the 2023 Warrant Indenture, the Company may accelerate the expiry of the Series D Warrants (the “Series D Acceleration”) to the date that is 30 calendar days after notice of early expiry is provided to the holders of Series D Warrants, if the closing sale price of the listed shares of the Company is at or above US$12.00 per share (being 200% of the current exercise price of the Series D Warrants), for any 10 trading days within a 15 consecutive trading day period.

Article content

As of the close of markets on June 18, 2026, the share price of Glass House closed at or above US$12.00 for 10 trading days within a 15 consecutive trading day period. Accordingly, the Company delivered notice of the Series B and C Acceleration and notice of the Series D Acceleration to Odyssey Trust Company as warrant agent and to the registered warrant holders, in accordance with the terms of the 2022 Warrant Indenture and the 2023 Warrant Indenture. Warrant holders will have until 5:00 p.m. (Toronto time) on July 23, 2026, to exercise their warrants, following which any remaining unexercised warrants will automatically expire and thereafter will no longer be exercisable.

Article content

Article content

About Glass House Brands
Glass House is one of the fastest-growing, cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. Whether it be through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.

Article content

Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or Glass House’s future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although Glass House believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Glass House’s Annual Information Form available on SEDAR+ at www.sedarplus.ca and in Glass House’s Form 40-F available on EDGAR at www.sec.gov. For more information on Glass House, investors are encouraged to review Glass House’s public filings on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. Glass House disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Article content

For further information, please contact:
Glass House Brands Inc.
Jon DeCourcey, Vice President of Investor Relations
T: (781) 724 6869
E: [email protected]

Article content

Investor Relations Contact:
KCSA Strategic Communications
Phil Carlson
T: 212-896-1233
E: [email protected]

Article content

Article content

Article content

Article content

Article content

Article content