Born out of the pandemic, and out of co-founders
"We are excited to invest in Sleepout, especially the two founders Mark and Hannah, to help them take their premium blackout curtain to market. We believe this product is a best-in-class solution for one of the most common sleep problems, and will help people get a longer and better night's sleep. We look forward to fuelling their growth with our market expertise and expanding our portfolio of online sleep wellness accessories to be sold digitally across
"We are thrilled to receive this investment from
Sustainably designed with premium Greenguard® and OEKO-TEX® certified 100 percent blackout fabric, the Sleepout Curtain is incredibly effective at keeping out light. It temporarily installs to any window using industrial-strength locking suction cups and blocks extra light with the help of the proprietary Sleepout Pads — a new non-damaging adhesive technology designed specifically to block light bleeds. The easy-to-install and remove kit packs into a reusable carrying bag that can fit into a backpack or suitcase, making it the perfect blackout solution for home and travel. Sleepout curtains will be sold online through the company's eCommerce website sleepoutcurtains.com and become a part of Sleep Country's growing digital ecosystem.
The company has already established a customer base through one of Kickstarter's top campaigns that ran from June to
About Sleep Country
Sleep Country is
About Sleepout
For more information about Sleep Country, visit www.sleepcountryir.ca.
For more information about Sleepout, visit www.sleepoutcurtains.com.
Non-IFRS Measures and Retail Industry Metrics
The Company prepares its consolidated financial statements in accordance with IFRS. In order to provide additional insight into the business, to provide investors with supplemental measures of its operating performance and to highlight trends in its business that may not otherwise be apparent when relying solely on IFRS financial measures, the Company uses certain non-IFRS measures, including "Same Store Sales" or "SSS", "EBITDA", "Operating EBITDA", "Operating EBITDA Margin", "Adjusted Net Income" and "Adjusted EPS". These measures are provided as additional information to complement IFRS measures by providing further understanding of the Company's results of operations from management's perspective. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers.
Readers are cautioned that these non-IFRS measures are not recognized under IFRS and do not have a standardized meaning prescribed by IFRS. They are therefore unlikely to be comparable to similarly titled measures presented by other publicly traded companies. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS.
Forward-looking Information
This release contains forward-looking information and forward-looking statements which reflect the current view of management with respect to the Company's objectives, plans, goals, strategies, outlook, results of operations, financial and operating performance, prospects and opportunities. Wherever used, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe" and similar expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indicators of whether, or the times at which, such events, performance or results will be achieved. All of the information in this release containing forward-looking information or forward-looking statements is qualified by these cautionary statements.
Forward-looking information and forward-looking statements are based on information available to management at the time they are made, underlying estimates, opinions and assumptions made by management and management's current good faith belief with respect to future strategies, prospects, events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally. Such risks and uncertainties include, but are not limited to, those described in the Company's 2020 Annual Information Form (the "AIF") filed on
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