Toronto, Ontario--(Newsfile Corp. - June 3, 2026) - THS Maple Holdings Ltd. (TSXV: YAY) (the "Company" or "THS"), a leading producer and global distributor of maple syrup and maple-flavoured products, today announced its financial and operational results for the three and nine month periods ended March 31, 2026. The Company continues to focus on strengthening its production infrastructure, expanding internationally, and investing in medium- to long-term growth.

Key Financial Highlights

• Revenue Growth - Revenue for the quarter totalled $3.1 million, an increase of 11.7% compared to $2.8 million in the comparative period last year. Revenue for the nine-month period reached $11.7 million, a 14.2% increase compared to $10.3 million in the prior-year period. Growth was achieved despite significant supply shortfalls in the Company's maple cream cookie category, with the estimated revenue impact remaining approximately $1 million during the nine-month period.

• Gross Profit Performance - Gross margin for the nine-month period was 19.3% compared to 22.2% in the prior year. Gross margin for the three-month period was 10.6% compared to 19.3% in the corresponding period last year. The decline in both periods primarily reflects a different sales mix, including increased bulk maple syrup sales to wholesale customers, as well as higher packaging, transportation and fuel-related costs. The third quarter was additionally impacted by softer demand in certain travel and tourism-related channels, resulting in a more pronounced margin contraction during the period.

• Operating Results - The Company continued to invest in commercial growth initiatives, distribution infrastructure, and operational capabilities. These investments, combined with margin pressures experienced during the period, contributed to an increase in operating losses relative to the comparative period.

Operational Highlights

• Exclusive Maple Cream Cookie Supply Agreement - During the quarter, Turkey Hill Sugarbush Ltd., a wholly owned subsidiary of THS, entered into an exclusivity agreement with Commercial Bakeries Corporation, a leading Toronto-based manufacturer of private-label cookies and baked snacks. Under the agreement, Turkey Hill will act as the exclusive supplier of maple cream cookies to the Canadian travel and tourism channel, including duty-free, travel retail, and tourism-focused distributors and retailers.

• Increased Packaging Capacity - The Company's new cartoning machine became operational during the quarter. The equipment is expected to improve packaging efficiency, increase throughput, and support future sales growth initiatives.

• Continued International Expansion - THS continued to strengthen its international sales presence and distribution capabilities while leveraging its warehouse infrastructure in British Columbia and Vermont to support customer growth and improved service levels.

CEO Commentary

"We are pleased to have delivered continued double-digit revenue growth despite ongoing supply constraints in our largest product category and a challenging operating environment," said Tom Zaffis, CEO of THS Maple Holdings Ltd. "Our gross margins were impacted during the quarter by a higher proportion of lower-margin wholesale sales, increased transportation and packaging costs, and softer demand in certain travel-related channels, due in part to current geo-political activities. Most of these factors reflect strategic decisions to support customer relationships, optimize inventory levels, and expand our market presence. Looking ahead, we believe our investments in packaging capacity, distribution infrastructure, such as in Western Canada and international market development position THS to capture future growth opportunities and improve operating leverage as volumes continue to increase."

Strategic Outlook

THS continues to focus on enhancing supply chain efficiencies, improving margins, and expanding market share in key regions. With increasing global demand for natural sweeteners and maple products, the Company remains confident in its ability to deliver long-term value for shareholders.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of 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 press 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 press release, forward-looking statements relate, among other things, to: the expectation that the Company's margins will improve; the benefits associated with becoming a publicly traded company and having access to broader capital markets; the benefits of acquiring a retail kiosk in the Old Port of Montreal; the viability of the Company opening its first US warehouse; and the Company's ability to optimize production and expand distribution. 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 such 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 press release. Except as required by law, THS assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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