Author: Ravi Shankar

Nine month revenue rises 20% to $3.15 million, while operating income increases 77% as KAYA focuses on margins, cash generation and operating discipline

KINGSTON, Jamaica and LOS ANGELES, Nov. 12, 2026 (GLOBE NEWSWIRE) — NUGL, Inc. (OTC: NUGL) (“NUGL” or the “Company”), operator of the KAYA cannabis and lifestyle brand in Jamaica, today reported results for the three and nine months ended September 30, 2026.

Revenue for the first nine months of 2026 increased 20.0% to $3.147 million, while operating income rose 77.0% to $301,869. Net cash provided by operating activities increased to $282,962, compared with $154,692 during the same period last year.

Third quarter revenue increased 3.2% to $1.037 million. Gross profit rose 7.3% to $601,154, lifting gross margin to approximately 58.0% from 55.7% a year earlier, while operating income increased 10.2% to $142,892.

Q3 September 30, 2026 Financial Result

Financial measure	Q3 2026		Nine months 2026
Revenue	$1,037,021 (+3.2%)		$3,146,960 (+20.0%)
Gross profit	$601,154 (+7.3%)		$1,672,834 (+15.4%)
Operating income	$142,892 (+10.2%)		$301,869 (+77.0%)
Net income	$188,598		$124,488

Periods ended September 30, 2026. Percentages in parentheses show year-over-year growth.

For the three months ended September 30, 2026:

• Gross margin increased to approximately 58.0%, from approximately 55.7%.

For the nine months ended September 30, 2026:

• Net cash provided by operating activities increased to $282,962, compared with $154,692 in the prior year period.

Third-quarter net income was $188,598, compared with $474,610 in the prior year quarter, a decline of 60.3%. The year over year comparison was significantly affected by changes in the fair value of derivative liabilities and other non operating items. Operating income increased 10.2% to $142,892.

Cash and cash equivalents were $226,415 at September 30, 2026, compared with $121,554 at December 31, 2025.

Working capital improved to $169,403, compared with a working capital deficit of approximately $52,000 at year end 2025.

The results come nearly a decade after KAYA entered Jamaica’s emerging regulated cannabis industry, during which the global sector shifted from limited legal supply and rapid expansion to increasingly competitive markets where pricing, efficiency, cash generation and differentiation are more important.

A Decade in Jamaica’s Cannabis Market

KAYA’s history began during the formation of Jamaica’s regulated cannabis industry. In 2015, the team participated in legal cannabis research, cultivation and processing with the University of Technology, Jamaica under one of two early research and development authorizations issued by the Government of Jamaica.

The program progressed into legal research cultivation at the UTech Ganja Lab in 2016 and included the cultivation and testing of more than 45 cannabis genetics.

Kaya Farms subsequently received its commercial cultivation licence and completed its first regulated commercial harvest in February 2018 under Jamaica’s Cannabis Licensing Authority.

On March 10, 2018, Kaya Herb House Drax Hall opened as Jamaica’s first legal medical cannabis dispensary and the first regulated cannabis retail operation of its kind in the Caribbean. The location established KAYA’s model of combining cannabis retail with food and beverage, hospitality, music, events and Jamaican culture.

KAYA later expanded its retail footprint to Falmouth, Kingston and Ocho Rios and added licensed processing through Kaya Extracts. The Group entered international markets with its first commercial cannabis oil export to the Cayman Islands in 2020 and cannabis flower exports to Australia in 2021.

Today, KAYA operates four licensed medical cannabis retail locations together with cultivation, processing, Kaya Pizza, Square Grouper Bar and other hospitality and experiential businesses.

From Ganja Supply to Ganja Economics

The cannabis industry KAYA entered a decade ago is materially different from the market today.

Growing supply across established cannabis markets has increased pricing pressure, reshaping market economics. Locally, compliant businesses continue to face competition from the illicit market, which does not carry the same regulatory costs. As global dynamics shift from rapid expansion toward disciplined execution, sustainable growth relies on operational efficiency, margin expansion, strong brand equity and optimizing core assets.

Management believes KAYA’s competitive position is increasingly tied to its vertically integrated Jamaican operations and the broader consumer experience surrounding the cannabis product.

“We have spent more than a decade learning what we are good at and, just as importantly, what we do not need to be,” said Bali Vaswani, Chief Executive Officer of NUGL, Inc.

“Our focus is Jamaica: producing consistent, high-grade ganja efficiently; converting that production into products our customers want; controlling the experience through our own retail locations; and building food, hospitality, tourism and culture around KAYA. We do not need to chase every category or every market simply because it becomes available.”

“There is significant work ahead, but the direction of the business is becoming clearer. Edibles are still not legal in Jamaica, where they represent a significant product category in more mature cannabis markets, leaving additional room for the Jamaican market to develop as regulations evolve.”

“KAYA also has something we believe is difficult to replicate. We have spent a decade operating at the intersection of ganja and Jamaica, combining cultivation, genetics, processing and retail with food, music, hospitality, tourism and culture. You can grow cannabis in many places. You cannot recreate Jamaica.”

Operating Strategy

Management’s priorities are increasingly centered on improving productivity and returns from KAYA’s existing vertically integrated platform, maximizing efficiency at every stage of its seed-to-sale operations.

The Company is focused on gross margin, operating cash generation, revenue per location, cultivation efficiency, compliant distribution and delivery, third-party product sales, hospitality and tourism revenue, strategic collaborations, and greater utilization of existing assets.

KAYA currently operates medical cannabis retail locations in Drax Hall, Kingston, Falmouth and Ocho Rios, supported by Kaya Farms and Kaya Extracts.

Kaya Pizza operates at Drax Hall and Ocho Rios, while Square Grouper Bar operates at Drax Hall and Kingston.

KAYA’s international collaborations include TYSON 2.0, the cannabis and wellness brand founded by Mike Tyson. TYSON 2.0 products are cultivated locally and are now available across all four KAYA retail locations, extending the relationship from its initial Jamaican launch into an active part of the Company’s retail platform.

At Drax Hall, the Company has continued broadening the destination offering, including the recent addition of five pickleball courts alongside cannabis retail, food and beverage, events and farm related experiences.

Management believes the combination of cannabis, hospitality, food and beverage, and experiential offerings creates multiple revenue streams while reducing the Company’s dependence on the pricing of any single cannabis product.

Outlook

For the remainder of 2026, NUGL intends to maintain its focus on operating performance, cash generation and disciplined capital allocation.

The Company continues to evaluate opportunities across cannabis retail, cultivation, processing, hospitality, food and beverage, tourism, strategic collaborations and further development of its NUGL.AI digital platform.

Management also continues to monitor the development of regulated cannabis markets internationally, particularly in areas where KAYA’s operating experience, genetics, products, retail platform or strategic relationships could create opportunities without requiring significant capital deployment.

“Our first decade was about building the foundation for a heavily regulated industry,” said Vaswani. “The next phase centers on driving efficiency, discipline and value while positioning ourselves for expanding global opportunities.”

About NUGL, Inc.

NUGL, Inc. is a cannabis lifestyle and technology company operating through the KAYA Group in Jamaica and through the developing NUGL.AI digital intelligence platform and marketplace designed for the cannabis, digital asset, and emerging biotech industries. It functions as a searchable, data-driven layer that tracks real-time market signals, sentiment, and sector news.

Through KAYA, the Company operates licensed medical cannabis retail locations, cultivation and processing operations, food and beverage concepts, hospitality and experiential offerings, branded merchandise and strategic collaborations. Kaya Herb House, Drax Hall opened in March 2018 and serves as the Company’s flagship operating location.

For more information, visit www.kayaherbhouse.com or follow KAYA at @kaya.inc.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval with respect to any transaction or otherwise. No offer of securities shall be made except in accordance with applicable law, including by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Forward Looking Statements

This press release contains forward looking statements regarding, among other matters, the Company’s strategy, operating performance, cash generation, profitability, brand development, expansion opportunities, digital platform and development of the KAYA and NUGL businesses.

Forward looking statements are based on management’s current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Words including “believe,” “expect,” “intend,” “plan,” “may,” “will,” “could,” “continue,” “opportunity” and similar expressions identify forward looking statements.

Investors should not place undue reliance on forward looking statements. Additional risks and uncertainties are described in NUGL’s disclosures filed with OTC Markets. The Company undertakes no obligation to update forward looking statements except as required by applicable law.

Investor and Media Contact

Leonardo Sammarco
Investor Relations
NUGL, Inc.
Tel: +1 (876) 627-9333
Email: ir@nugl.com

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/74e643c6-ad3d-41a7-8d1e-37b806553752

https://www.globenewswire.com/NewsRoom/AttachmentNg/defc9376-7906-4533-acff-f4d4922b47e4

Nine month revenue rises 20% to $3.15 million, while operating income increases 77% as KAYA focuses on margins, cash generation and operating discipline

KINGSTON, Jamaica and LOS ANGELES, Nov. 12, 2026 (GLOBE NEWSWIRE) — NUGL, Inc. (OTC: NUGL) (“NUGL” or the “Company”), operator of the KAYA cannabis and lifestyle brand in Jamaica, today reported results for the three and nine months ended September 30, 2026.

Revenue for the first nine months of 2026 increased 20.0% to $3.147 million, while operating income rose 77.0% to $301,869. Net cash provided by operating activities increased to $282,962, compared with $154,692 during the same period last year.

Third quarter revenue increased 3.2% to $1.037 million. Gross profit rose 7.3% to $601,154, lifting gross margin to approximately 58.0% from 55.7% a year earlier, while operating income increased 10.2% to $142,892.

Q3 September 30, 2026 Financial Result

Financial measure	Q3 2026		Nine months 2026
Revenue	$1,037,021 (+3.2%)		$3,146,960 (+20.0%)
Gross profit	$601,154 (+7.3%)		$1,672,834 (+15.4%)
Operating income	$142,892 (+10.2%)		$301,869 (+77.0%)
Net income	$188,598		$124,488

Periods ended September 30, 2026. Percentages in parentheses show year-over-year growth.

For the three months ended September 30, 2026:

• Gross margin increased to approximately 58.0%, from approximately 55.7%.

For the nine months ended September 30, 2026:

• Net cash provided by operating activities increased to $282,962, compared with $154,692 in the prior year period.

Third-quarter net income was $188,598, compared with $474,610 in the prior year quarter, a decline of 60.3%. The year over year comparison was significantly affected by changes in the fair value of derivative liabilities and other non operating items. Operating income increased 10.2% to $142,892.

Cash and cash equivalents were $226,415 at September 30, 2026, compared with $121,554 at December 31, 2025.

Working capital improved to $169,403, compared with a working capital deficit of approximately $52,000 at year end 2025.

The results come nearly a decade after KAYA entered Jamaica’s emerging regulated cannabis industry, during which the global sector shifted from limited legal supply and rapid expansion to increasingly competitive markets where pricing, efficiency, cash generation and differentiation are more important.

A Decade in Jamaica’s Cannabis Market

KAYA’s history began during the formation of Jamaica’s regulated cannabis industry. In 2015, the team participated in legal cannabis research, cultivation and processing with the University of Technology, Jamaica under one of two early research and development authorizations issued by the Government of Jamaica.

The program progressed into legal research cultivation at the UTech Ganja Lab in 2016 and included the cultivation and testing of more than 45 cannabis genetics.

Kaya Farms subsequently received its commercial cultivation licence and completed its first regulated commercial harvest in February 2018 under Jamaica’s Cannabis Licensing Authority.

On March 10, 2018, Kaya Herb House Drax Hall opened as Jamaica’s first legal medical cannabis dispensary and the first regulated cannabis retail operation of its kind in the Caribbean. The location established KAYA’s model of combining cannabis retail with food and beverage, hospitality, music, events and Jamaican culture.

KAYA later expanded its retail footprint to Falmouth, Kingston and Ocho Rios and added licensed processing through Kaya Extracts. The Group entered international markets with its first commercial cannabis oil export to the Cayman Islands in 2020 and cannabis flower exports to Australia in 2021.

Today, KAYA operates four licensed medical cannabis retail locations together with cultivation, processing, Kaya Pizza, Square Grouper Bar and other hospitality and experiential businesses.

From Ganja Supply to Ganja Economics

The cannabis industry KAYA entered a decade ago is materially different from the market today.

Growing supply across established cannabis markets has increased pricing pressure, reshaping market economics. Locally, compliant businesses continue to face competition from the illicit market, which does not carry the same regulatory costs. As global dynamics shift from rapid expansion toward disciplined execution, sustainable growth relies on operational efficiency, margin expansion, strong brand equity and optimizing core assets.

Management believes KAYA’s competitive position is increasingly tied to its vertically integrated Jamaican operations and the broader consumer experience surrounding the cannabis product.

“We have spent more than a decade learning what we are good at and, just as importantly, what we do not need to be,” said Bali Vaswani, Chief Executive Officer of NUGL, Inc.

“Our focus is Jamaica: producing consistent, high-grade ganja efficiently; converting that production into products our customers want; controlling the experience through our own retail locations; and building food, hospitality, tourism and culture around KAYA. We do not need to chase every category or every market simply because it becomes available.”

“There is significant work ahead, but the direction of the business is becoming clearer. Edibles are still not legal in Jamaica, where they represent a significant product category in more mature cannabis markets, leaving additional room for the Jamaican market to develop as regulations evolve.”

“KAYA also has something we believe is difficult to replicate. We have spent a decade operating at the intersection of ganja and Jamaica, combining cultivation, genetics, processing and retail with food, music, hospitality, tourism and culture. You can grow cannabis in many places. You cannot recreate Jamaica.”

Operating Strategy

Management’s priorities are increasingly centered on improving productivity and returns from KAYA’s existing vertically integrated platform, maximizing efficiency at every stage of its seed-to-sale operations.

The Company is focused on gross margin, operating cash generation, revenue per location, cultivation efficiency, compliant distribution and delivery, third-party product sales, hospitality and tourism revenue, strategic collaborations, and greater utilization of existing assets.

KAYA currently operates medical cannabis retail locations in Drax Hall, Kingston, Falmouth and Ocho Rios, supported by Kaya Farms and Kaya Extracts.

Kaya Pizza operates at Drax Hall and Ocho Rios, while Square Grouper Bar operates at Drax Hall and Kingston.

KAYA’s international collaborations include TYSON 2.0, the cannabis and wellness brand founded by Mike Tyson. TYSON 2.0 products are cultivated locally and are now available across all four KAYA retail locations, extending the relationship from its initial Jamaican launch into an active part of the Company’s retail platform.

At Drax Hall, the Company has continued broadening the destination offering, including the recent addition of five pickleball courts alongside cannabis retail, food and beverage, events and farm related experiences.

Management believes the combination of cannabis, hospitality, food and beverage, and experiential offerings creates multiple revenue streams while reducing the Company’s dependence on the pricing of any single cannabis product.

Outlook

For the remainder of 2026, NUGL intends to maintain its focus on operating performance, cash generation and disciplined capital allocation.

The Company continues to evaluate opportunities across cannabis retail, cultivation, processing, hospitality, food and beverage, tourism, strategic collaborations and further development of its NUGL.AI digital platform.

Management also continues to monitor the development of regulated cannabis markets internationally, particularly in areas where KAYA’s operating experience, genetics, products, retail platform or strategic relationships could create opportunities without requiring significant capital deployment.

“Our first decade was about building the foundation for a heavily regulated industry,” said Vaswani. “The next phase centers on driving efficiency, discipline and value while positioning ourselves for expanding global opportunities.”

About NUGL, Inc.

NUGL, Inc. is a cannabis lifestyle and technology company operating through the KAYA Group in Jamaica and through the developing NUGL.AI digital intelligence platform and marketplace designed for the cannabis, digital asset, and emerging biotech industries. It functions as a searchable, data-driven layer that tracks real-time market signals, sentiment, and sector news.

Through KAYA, the Company operates licensed medical cannabis retail locations, cultivation and processing operations, food and beverage concepts, hospitality and experiential offerings, branded merchandise and strategic collaborations. Kaya Herb House, Drax Hall opened in March 2018 and serves as the Company’s flagship operating location.

For more information, visit www.kayaherbhouse.com or follow KAYA at @kaya.inc.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval with respect to any transaction or otherwise. No offer of securities shall be made except in accordance with applicable law, including by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Forward Looking Statements

This press release contains forward looking statements regarding, among other matters, the Company’s strategy, operating performance, cash generation, profitability, brand development, expansion opportunities, digital platform and development of the KAYA and NUGL businesses.

Forward looking statements are based on management’s current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Words including “believe,” “expect,” “intend,” “plan,” “may,” “will,” “could,” “continue,” “opportunity” and similar expressions identify forward looking statements.

Investors should not place undue reliance on forward looking statements. Additional risks and uncertainties are described in NUGL’s disclosures filed with OTC Markets. The Company undertakes no obligation to update forward looking statements except as required by applicable law.

Investor and Media Contact

Leonardo Sammarco
Investor Relations
NUGL, Inc.
Tel: +1 (876) 627-9333
Email: ir@nugl.com

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/74e643c6-ad3d-41a7-8d1e-37b806553752

https://www.globenewswire.com/NewsRoom/AttachmentNg/defc9376-7906-4533-acff-f4d4922b47e4

Nine month revenue rises 20% to $3.15 million, while operating income increases 77% as KAYA focuses on margins, cash generation and operating discipline

KINGSTON, Jamaica and LOS ANGELES, Nov. 12, 2026 (GLOBE NEWSWIRE) — NUGL, Inc. (OTC: NUGL) (“NUGL” or the “Company”), operator of the KAYA cannabis and lifestyle brand in Jamaica, today reported results for the three and nine months ended September 30, 2026.

Revenue for the first nine months of 2026 increased 20.0% to $3.147 million, while operating income rose 77.0% to $301,869. Net cash provided by operating activities increased to $282,962, compared with $154,692 during the same period last year.

Third quarter revenue increased 3.2% to $1.037 million. Gross profit rose 7.3% to $601,154, lifting gross margin to approximately 58.0% from 55.7% a year earlier, while operating income increased 10.2% to $142,892.

Q3 September 30, 2026 Financial Result

Financial measure	Q3 2026		Nine months 2026
Revenue	$1,037,021 (+3.2%)		$3,146,960 (+20.0%)
Gross profit	$601,154 (+7.3%)		$1,672,834 (+15.4%)
Operating income	$142,892 (+10.2%)		$301,869 (+77.0%)
Net income	$188,598		$124,488

Periods ended September 30, 2026. Percentages in parentheses show year-over-year growth.

For the three months ended September 30, 2026:

• Gross margin increased to approximately 58.0%, from approximately 55.7%.

For the nine months ended September 30, 2026:

• Net cash provided by operating activities increased to $282,962, compared with $154,692 in the prior year period.

Third-quarter net income was $188,598, compared with $474,610 in the prior year quarter, a decline of 60.3%. The year over year comparison was significantly affected by changes in the fair value of derivative liabilities and other non operating items. Operating income increased 10.2% to $142,892.

Cash and cash equivalents were $226,415 at September 30, 2026, compared with $121,554 at December 31, 2025.

Working capital improved to $169,403, compared with a working capital deficit of approximately $52,000 at year end 2025.

The results come nearly a decade after KAYA entered Jamaica’s emerging regulated cannabis industry, during which the global sector shifted from limited legal supply and rapid expansion to increasingly competitive markets where pricing, efficiency, cash generation and differentiation are more important.

A Decade in Jamaica’s Cannabis Market

KAYA’s history began during the formation of Jamaica’s regulated cannabis industry. In 2015, the team participated in legal cannabis research, cultivation and processing with the University of Technology, Jamaica under one of two early research and development authorizations issued by the Government of Jamaica.

The program progressed into legal research cultivation at the UTech Ganja Lab in 2016 and included the cultivation and testing of more than 45 cannabis genetics.

Kaya Farms subsequently received its commercial cultivation licence and completed its first regulated commercial harvest in February 2018 under Jamaica’s Cannabis Licensing Authority.

On March 10, 2018, Kaya Herb House Drax Hall opened as Jamaica’s first legal medical cannabis dispensary and the first regulated cannabis retail operation of its kind in the Caribbean. The location established KAYA’s model of combining cannabis retail with food and beverage, hospitality, music, events and Jamaican culture.

KAYA later expanded its retail footprint to Falmouth, Kingston and Ocho Rios and added licensed processing through Kaya Extracts. The Group entered international markets with its first commercial cannabis oil export to the Cayman Islands in 2020 and cannabis flower exports to Australia in 2021.

Today, KAYA operates four licensed medical cannabis retail locations together with cultivation, processing, Kaya Pizza, Square Grouper Bar and other hospitality and experiential businesses.

From Ganja Supply to Ganja Economics

The cannabis industry KAYA entered a decade ago is materially different from the market today.

Growing supply across established cannabis markets has increased pricing pressure, reshaping market economics. Locally, compliant businesses continue to face competition from the illicit market, which does not carry the same regulatory costs. As global dynamics shift from rapid expansion toward disciplined execution, sustainable growth relies on operational efficiency, margin expansion, strong brand equity and optimizing core assets.

Management believes KAYA’s competitive position is increasingly tied to its vertically integrated Jamaican operations and the broader consumer experience surrounding the cannabis product.

“We have spent more than a decade learning what we are good at and, just as importantly, what we do not need to be,” said Bali Vaswani, Chief Executive Officer of NUGL, Inc.

“Our focus is Jamaica: producing consistent, high-grade ganja efficiently; converting that production into products our customers want; controlling the experience through our own retail locations; and building food, hospitality, tourism and culture around KAYA. We do not need to chase every category or every market simply because it becomes available.”

“There is significant work ahead, but the direction of the business is becoming clearer. Edibles are still not legal in Jamaica, where they represent a significant product category in more mature cannabis markets, leaving additional room for the Jamaican market to develop as regulations evolve.”

“KAYA also has something we believe is difficult to replicate. We have spent a decade operating at the intersection of ganja and Jamaica, combining cultivation, genetics, processing and retail with food, music, hospitality, tourism and culture. You can grow cannabis in many places. You cannot recreate Jamaica.”

Operating Strategy

Management’s priorities are increasingly centered on improving productivity and returns from KAYA’s existing vertically integrated platform, maximizing efficiency at every stage of its seed-to-sale operations.

The Company is focused on gross margin, operating cash generation, revenue per location, cultivation efficiency, compliant distribution and delivery, third-party product sales, hospitality and tourism revenue, strategic collaborations, and greater utilization of existing assets.

KAYA currently operates medical cannabis retail locations in Drax Hall, Kingston, Falmouth and Ocho Rios, supported by Kaya Farms and Kaya Extracts.

Kaya Pizza operates at Drax Hall and Ocho Rios, while Square Grouper Bar operates at Drax Hall and Kingston.

KAYA’s international collaborations include TYSON 2.0, the cannabis and wellness brand founded by Mike Tyson. TYSON 2.0 products are cultivated locally and are now available across all four KAYA retail locations, extending the relationship from its initial Jamaican launch into an active part of the Company’s retail platform.

At Drax Hall, the Company has continued broadening the destination offering, including the recent addition of five pickleball courts alongside cannabis retail, food and beverage, events and farm related experiences.

Management believes the combination of cannabis, hospitality, food and beverage, and experiential offerings creates multiple revenue streams while reducing the Company’s dependence on the pricing of any single cannabis product.

Outlook

For the remainder of 2026, NUGL intends to maintain its focus on operating performance, cash generation and disciplined capital allocation.

The Company continues to evaluate opportunities across cannabis retail, cultivation, processing, hospitality, food and beverage, tourism, strategic collaborations and further development of its NUGL.AI digital platform.

Management also continues to monitor the development of regulated cannabis markets internationally, particularly in areas where KAYA’s operating experience, genetics, products, retail platform or strategic relationships could create opportunities without requiring significant capital deployment.

“Our first decade was about building the foundation for a heavily regulated industry,” said Vaswani. “The next phase centers on driving efficiency, discipline and value while positioning ourselves for expanding global opportunities.”

About NUGL, Inc.

NUGL, Inc. is a cannabis lifestyle and technology company operating through the KAYA Group in Jamaica and through the developing NUGL.AI digital intelligence platform and marketplace designed for the cannabis, digital asset, and emerging biotech industries. It functions as a searchable, data-driven layer that tracks real-time market signals, sentiment, and sector news.

Through KAYA, the Company operates licensed medical cannabis retail locations, cultivation and processing operations, food and beverage concepts, hospitality and experiential offerings, branded merchandise and strategic collaborations. Kaya Herb House, Drax Hall opened in March 2018 and serves as the Company’s flagship operating location.

For more information, visit www.kayaherbhouse.com or follow KAYA at @kaya.inc.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval with respect to any transaction or otherwise. No offer of securities shall be made except in accordance with applicable law, including by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Forward Looking Statements

This press release contains forward looking statements regarding, among other matters, the Company’s strategy, operating performance, cash generation, profitability, brand development, expansion opportunities, digital platform and development of the KAYA and NUGL businesses.

Forward looking statements are based on management’s current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Words including “believe,” “expect,” “intend,” “plan,” “may,” “will,” “could,” “continue,” “opportunity” and similar expressions identify forward looking statements.

Investors should not place undue reliance on forward looking statements. Additional risks and uncertainties are described in NUGL’s disclosures filed with OTC Markets. The Company undertakes no obligation to update forward looking statements except as required by applicable law.

Investor and Media Contact

Leonardo Sammarco
Investor Relations
NUGL, Inc.
Tel: +1 (876) 627-9333
Email: ir@nugl.com

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/74e643c6-ad3d-41a7-8d1e-37b806553752

https://www.globenewswire.com/NewsRoom/AttachmentNg/defc9376-7906-4533-acff-f4d4922b47e4

Personalized experience helps readers find the local stories that matter most to them

BUFFALO, N.Y., Nov. 12, 2026 (GLOBE NEWSWIRE) — The Buffalo News launched a redesigned website that lets readers shape the experience around their own communities, interests and routines. Built with reader feedback, the new site offers simpler navigation, stronger visual storytelling and more coverage of the topics Buffalo cares about.

For decades, news websites have followed the structure of the newsroom: sections, beats and a single homepage for everyone. The new BuffaloNews.com moves away from that one-size-fits-all model toward a personalized experience organized around each reader’s neighborhood, teams, schools, businesses and interests.

“The Buffalo News is still built on our reporters, our trusted newsroom and our community,” said Sean Jacobsen, president and publisher of The Buffalo News. “This redesign lets readers make the site their own, so the stories that matter most to them in their community, their teams, their schools and their work are always easy to find.”

The site becomes more relevant the more readers use it. New features include:

• Improved discovery: Redesigned homepage and section pages surface more stories and make it easier to explore topics.
• Cleaner article pages: A streamlined layout with fewer distractions keeps the story at the center.
• Customization: Readers can adjust how they use the site, including putting the e-edition front and center.
• My Stories: A mobile-first personal feed tailored to each reader’s interests.
• Journalist profiles: More prominent highlights help readers get to know the people behind the local reporting.

Readers can explore BuffaloNews.com and see “Where Your Story Lives.”

About Lee Enterprises

Lee Enterprises is a leading provider of local news and information and a major subscription and advertising platform with 193 owned and managed brands across 28 states. Lee’s markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; and Davenport, IA. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net. 

Attachment

• The Buffalo News Unveils Redesigned Website Built Around the Reader

CONTACT: Jillian Jordan
Lee Enterprises
jillian.jordan@lee.net

Personalized experience helps readers find the local stories that matter most to them

BUFFALO, N.Y., Nov. 12, 2026 (GLOBE NEWSWIRE) — The Buffalo News launched a redesigned website that lets readers shape the experience around their own communities, interests and routines. Built with reader feedback, the new site offers simpler navigation, stronger visual storytelling and more coverage of the topics Buffalo cares about.

For decades, news websites have followed the structure of the newsroom: sections, beats and a single homepage for everyone. The new BuffaloNews.com moves away from that one-size-fits-all model toward a personalized experience organized around each reader’s neighborhood, teams, schools, businesses and interests.

“The Buffalo News is still built on our reporters, our trusted newsroom and our community,” said Sean Jacobsen, president and publisher of The Buffalo News. “This redesign lets readers make the site their own, so the stories that matter most to them in their community, their teams, their schools and their work are always easy to find.”

The site becomes more relevant the more readers use it. New features include:

• Improved discovery: Redesigned homepage and section pages surface more stories and make it easier to explore topics.
• Cleaner article pages: A streamlined layout with fewer distractions keeps the story at the center.
• Customization: Readers can adjust how they use the site, including putting the e-edition front and center.
• My Stories: A mobile-first personal feed tailored to each reader’s interests.
• Journalist profiles: More prominent highlights help readers get to know the people behind the local reporting.

Readers can explore BuffaloNews.com and see “Where Your Story Lives.”

About Lee Enterprises

Lee Enterprises is a leading provider of local news and information and a major subscription and advertising platform with 193 owned and managed brands across 28 states. Lee’s markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; and Davenport, IA. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net. 

Attachment

• The Buffalo News Unveils Redesigned Website Built Around the Reader

CONTACT: Jillian Jordan
Lee Enterprises
jillian.jordan@lee.net

GROSSE POINTE FARMS, Mich., Nov. 12, 2026 (GLOBE NEWSWIRE) — Saga Communications, Inc. (Nasdaq – SGA) (the “Company” or “Saga”) today reported that net revenue decreased 5.4% to $26.7 million for the quarter ended September 30, 2026 compared to $28.2 million for the same period last year. Station operating expense decreased 1.7% for the quarter to $24.2 million compared to the same period last year. For the quarter, we had an operating loss of $9.8 million compared to an operating loss of $626 thousand for the same quarter last year and station operating income (a non-GAAP financial measure) was $2.4 million compared to $3.5 million for the same period last year. For the quarter, the Company recorded a non-cash impairment charge based on an evaluation of FCC license values of $9.2 million. Without the non-cash impairment charge, the Company’s operating loss would have been $563 thousand for the quarter compared to an operating loss of $626 thousand for the same period last year. Capital expenditures were $900 thousand for the quarter compared to $600 thousand for the same period last year. We had a net loss of $7.1 million for the quarter compared to a net loss of $532 thousand for the third quarter last year primarily as a result of the non-cash impairment charge disclosed above. Without the non-cash impairment charge, the Company’s net loss would have been approximately $240 thousand or $0.03 per share compared to a net loss of $0.08 per share for the third quarter last year.

The impairment was driven by an increase in interest rates which increased the discount rate used in the fair value calculation, a decrease in operating margins in our business and the industry as a whole and reductions in market revenue projections used in our fair value calculations.

Net revenue decreased 5.8% to $75.9 million for the nine-month period ended September 30, 2026 compared to $80.6 million for the same period last year. Station operating expense increased 1.2% for the nine-month period to $69.7 million compared to the same period last year. For the nine-month period, we had an operating loss of $12.4 million compared to an operating loss of $1.5 million for the same period last year, and station operating income (a non-GAAP financial measure) of $6.2 million compared to $11.7 million for the same period last year. Without the non-cash impairment charge for the nine-month period the Company’s operating loss would have been $3.2 million. Capital expenditures for the nine-months were $2.9 million compared to $2.6 million for the same period last year. We had a net loss of $8.5 million, or $1.34 per fully diluted share, for the nine month period primarily as a result of the non-cash impairment charge previously disclosed compared to a net loss of $979 thousand or $0.15 per share for the same period last year. Without the non-cash impairment charge, the Company’s net loss would have been approximately $1.7 million or $0.26 per fully diluted share compared to a net loss of $0.15 per share for the same period last year.

For the quarter ended September 30, 2026, we recorded $154 thousand of non-cash rent expense. This was attributable to the previously reported sale of 24 telecommunications towers and related property in October of last year for a total cash purchase price of $10.7 million, as amended in the second quarter of 2026 to provide for market rent under the related leases and promissory notes payable to the Company, which are offset against our lease payments. This non-cash rent expense is partially offset by non-cash interest income on the notes of $127 thousand for the quarter. The Company retains long term access to those assets with no cash expense. Without this non-cash expense our station operating expense would have decreased 2.3% for the quarter. For the nine-month period ended September 30, 2026 we recorded $561 thousand of non-cash rent expense. Going forward we expect to continue to record approximately $154 thousand per quarter and $616 thousand per year in non-cash rental expense attributable to the tower sale. Net revenues for the quarter and year to date ended September 30, 2026 were reduced by $188 thousand for the quarter and $564 thousand for the year to date due to the transfer of certain income producing leases associated with the towers that were sold. Adjusting for the sale net revenue would have decreased 4.7% for the quarter and 5.1% for the year.

Gross political revenue was $1.2 million and $73 thousand, respectively, for the third quarter in 2026 and 2025. Gross political revenue was $1.9 million for the nine-month period ended September 30, 2026 compared to $395 thousand for the comparable period last year. The Company has approximately $3.6 million of gross political revenue sold for the fourth quarter.

The Company’s balance sheet reflects $23.5 million in cash and short-term investments as of September 30, 2026 and $22.4 million as of November 9, 2026. The Company expects to spend approximately $3.0 – $3.5 million for capital expenditures during 2026.

The Company paid a quarterly dividend of $0.25 per share on October 16, 2026. The aggregate amount of the quarterly dividend was approximately $1.6 million.

Saga’s Board of Directors today declared a quarterly cash dividend of $0.25 per share, reflecting the Board’s continued commitment to a disciplined and balanced approach to capital allocation. The dividend will be paid on December 11, 2026 to shareholders of record on November 23, 2026. The aggregate amount of the payment will be approximately $1.6 million. Including the recently declared dividend, the Company will have paid over $148 million in dividends to shareholders since the first special dividend was paid in 2012.

The Board regularly evaluates Saga’s capital allocation priorities with a focus on maximizing long-term shareholder value. In maintaining the quarterly dividend, the Board determined that the Company’s current financial position provides flexibility to continue returning capital to shareholders while also investing in Saga’s strategic priorities and digital transformation and evaluating other opportunities to deploy capital. The Board will continue to assess dividends, share repurchases, investments in the business and other potential uses of capital based on the relative opportunities available to create long-term shareholder value.

Saga’s 2026 Third Quarter conference call will be held on Thursday, November 12, 2026 at 11:00 a.m Eastern time. The dial-in number for the call is (973) 528-0008. Enter conference code 707110. A recording and transcript of the call will be posted to the Company’s website as soon as it is available after the call.

The Company requests that all parties that have a question that they would like to submit to the Company please email the inquiry by 10:00 a.m. Eastern time on November 12, 2026 to SagaIR@sagacom.com. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing directions will be discussed during the call.

Saga utilizes certain financial measures that are not calculated in accordance with generally accepted accounting principles (GAAP) to assess its financial performance. The attached Selected Supplemental Financial Data tables disclose the Company’s reconciliation of non-GAAP measures: GAAP operating income to station operating income, GAAP net income to trailing twelve-month consolidated EBITDA, as well as other financial data. Such non-GAAP measures include station operating income and trailing 12-month consolidated EBITDA. These non-GAAP measures are generally recognized by the broadcasting industry as measures of performance and are used by Saga to assess its financial performance including, but not limited to, evaluating individual station and market-level performance, evaluating overall operations, evaluating the Company’s financial position, and as a primary but not exclusive measure for incentive-based compensation of executives and other members of management. Saga’s management believes these non-GAAP measures are used by analysts who report on the industry and by investors to provide meaningful comparisons between broadcasting groups, as well as an indicator of their market value. These measures are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not as a substitute for the results of operations presented on a GAAP basis, including net operating revenue, operating income, and net income. Reconciliations for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the Selected Supplemental Financial Data tables.

This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10Q. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement.

Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a focus on providing opportunities complementary to our core radio business including digital, e-commerce, local on-line news services and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 28 AM radio stations and 78 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.

Contact:
Samuel D. Bush
(313) 886-7070

Saga Communications, Inc. Selected Consolidated Financial Data For the Three and Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s except per share data) (Unaudited)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
Operating Results
Net operating revenue	$	26,656			$	28,166			$	75,925			$	80,607
Station operating expense		24,247				24,674				69,695				68,863
Corporate general and administrative		2,779				2,820				8,431				9,061
Depreciation and amortization		1,183				1,307				3,541				3,900
(Gain) loss on sale of assets, net		(990	)			(9	)			(2,540	)			298
Impairment of intangible assets		9,212				—				9,212				—
Operating loss		(9,775	)			(626	)			(12,414	)			(1,515	)
Interest expense		41				108				224				322
Interest income		(295	)			(216	)			(1,107	)			(648	)
Other expense (income), net		26				(81	)			(30	)			(105	)
Loss before income tax expense		(9,547	)			(437	)			(11,501	)			(1,084	)
Income tax (benefit) expense
Current		—				290				75				130
Deferred		(2,455	)			(195	)			(3,050	)			(235	)
		(2,455	)			95				(2,975	)			(105	)
Net loss	$	(7,092	)		$	(532	)		$	(8,526	)		$	(979	)
Loss per share:
Basic	$	(1.11	)		$	(0.08	)		$	(1.34	)		$	(0.15	)
Diluted	$	(1.11	)		$	(0.08	)		$	(1.34	)		$	(0.15	)
Weighted average common shares		6,101				6,164				6,089				6,156
Weighted average common and common equivalent shares		6,101				6,164				6,089				6,156

	September 30,
	2026			2025
Balance Sheet Data
Working capital	$	24,378		$	31,951
Net fixed assets	$	44,443		$	47,154
Net intangible assets and other assets	$	96,662		$	120,864
Total assets	$	183,046		$	218,352
Long-term debt	$	—		$	5,000
Stockholders’ equity	$	140,019		$	162,057

Saga Communications, Inc. Selected Consolidated Financial Data Statement of Cash Flows For the Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s except per share data) (Unaudited)
	Nine Months Ended
	September 30,
	2026				2025
	(Unaudited)
	(In thousands)
Cash flows from operating activities:
Net loss	$	(8,526	)		$	(979	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		3,541				3,900
Deferred income tax benefit		(3,050	)			(235	)
Amortization of deferred costs		15				24
Compensation expense related to restricted stock awards		1,554				1,648
Provision for credit losses		402				372
(Gain) Loss on sale of assets, net		(2,540	)			298
Extinguishment of deferred financing costs		34				—
Gain on insurance claim		(64	)			(105	)
Non-cash rent expense		561				—
Non-cash interest income		(508	)			—
Barter revenue (net)		(92	)			(147	)
Impairment of intangible assets		9,212				—
Deferred and other compensation		(268	)			(106	)
Changes in operating lease assets and liabilities (net)		(45	)			(64	)
Changes in assets and liabilities:
(Increase) decrease in current assets		(1,418	)			(1,005	)
(Decrease) increase in accounts payable, accrued expenses, and other liabilities		(253	)			1,881
Total adjustments		7,081				6,461
Net cash (used in) provided by operating activities		(1,445	)			5,482
Cash flows from investing activities:
Purchase of short-term investments		(18,879	)			(13,619	)
Redemption of short-term investments		18,879				13,619
Acquisition of property and equipment (Capital Expenditures)		(2,922	)			(2,600	)
Proceeds from sale and disposal of assets		3,993				37
Proceeds from insurance claims, redemption of investments and other		64				105
Net cash provided by (used in) investing activities		1,135				(2,458	)
Cash flows from financing activities:
Cash dividends paid		(3,176	)			(4,824	)
Payments on long term debt		(5,000	)			—
Purchase of treasury shares		(30	)			—
Net cash used in financing activities		(8,206	)			(4,824	)
Net decrease in cash and cash equivalents		(8,516	)			(1,800	)
Cash and cash equivalents, beginning of period		22,506				18,860
Cash and cash equivalents, end of period	$	13,990			$	17,060

Saga Communications, Inc. Selected Supplemental Financial Data Reconciliation of GAAP Operating Loss to Station Operating Income (a non-GAAP financial measure) For the Three and Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s) (Unaudited)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026					2025
Operating loss	$	(9,775	)		$	(626	)		$	(12,414	)			$	(1,515	)
Plus:
Corporate general and administrative		2,779				2,820				8,431					9,061
(Gain) loss on sale of assets, net		(990	)			(9	)			(2,540	)				298
Impairment of intangible assets		9,212				—				9,212					—
Depreciation and amortization		1,183				1,307				3,541					3,900
Station operating income	$	2,409			$	3,492			$	6,230				$	11,744
Other financial data
Depreciation and amortization:
Radio Stations	$	1,147			$	1,263			$	3,419				$	3,770
Corporate	$	36			$	44			$	122				$	130
Compensation expense related to restricted stock awards	$	488			$	518			$	1,554		(1)		$	1,648		(1)
(Gain) loss on sale of assets, net(2)	$	(990	)		$	(9	)		$	(2,540	)			$	298
Other income, net(2)	$	26			$	(81	)		$	(30	)			$	(105	)
Deferred income tax (benefit) expense(2)	$	(2,455	)		$	(195	)		$	(3,050	)			$	(235	)
Impairment of intangible assets(2)	$	9,212			$	—			$	9,212				$	—
Non-cash rent expense	$	154			$	—			$	561		(1)		$	—		(1)
Non-cash interest income	$	(127	)		$	—			$	(508	)	(1)		$	—		(1)
Acquisition of property and equipment (Capital Expenditures)	$	881			$	590			$	2,922		(1)		$	2,600		(1)
(1)  As presented in the Statement of Cash Flows in the Selected Consolidated Financial Data tables
(2)  As presented in the Operating Results in the Selected Consolidated Financial Data tables

Saga Communications, Inc. Selected Supplemental Financial Data Reconciliation of GAAP Net Loss to Trailing 12 Month Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”(1)) (a non-GAAP financial measure) September 30, 2026 (amounts in 000’s) (Unaudited)
					Less:				Plus:				Trailing
	12 Months Ended				9 Months Ended				9 Months Ended				12 Months Ended
	December 31,				September 30,				September 30,				September 30,
	2025				2025				2026				2026
Net loss	$	(7,899	)		$	(979	)		$	(8,526	)		$	(15,446	)
Exclusions:
Gain (loss) on sale of assets, net		11,522				(298	)			2,540				14,360
Impairment of goodwill		(19,229	)			—				—				(19,229	)
Impairment of intangible assets		(1,168	)			—				(9,212	)			(10,380	)
Other income, net		1,088				900				1,229				1,417
Total exclusions		(7,787	)			602				(5,443	)			(13,832	)
Consolidated adjusted net loss		(112	)			(1,581	)			(3,083	)			(1,614	)
Plus:
Interest expense		420				322				224				322
Income tax benefit		(2,570	)			(105	)			(2,975	)			(5,440	)
Non-cash rent expense		54				—				561				615
Depreciation & amortization expense		5,178				3,900				3,541				4,819
Non-cash compensation		2,132				1,648				1,554				2,038
Trailing twelve month consolidated EBITDA	$	5,102			$	4,184			$	(178	)		$	740
(1)  We have continued to utilize the calculation prescribed by our previous Credit Facility for period to period comparison.

GROSSE POINTE FARMS, Mich., Nov. 12, 2026 (GLOBE NEWSWIRE) — Saga Communications, Inc. (Nasdaq – SGA) (the “Company” or “Saga”) today reported that net revenue decreased 5.4% to $26.7 million for the quarter ended September 30, 2026 compared to $28.2 million for the same period last year. Station operating expense decreased 1.7% for the quarter to $24.2 million compared to the same period last year. For the quarter, we had an operating loss of $9.8 million compared to an operating loss of $626 thousand for the same quarter last year and station operating income (a non-GAAP financial measure) was $2.4 million compared to $3.5 million for the same period last year. For the quarter, the Company recorded a non-cash impairment charge based on an evaluation of FCC license values of $9.2 million. Without the non-cash impairment charge, the Company’s operating loss would have been $563 thousand for the quarter compared to an operating loss of $626 thousand for the same period last year. Capital expenditures were $900 thousand for the quarter compared to $600 thousand for the same period last year. We had a net loss of $7.1 million for the quarter compared to a net loss of $532 thousand for the third quarter last year primarily as a result of the non-cash impairment charge disclosed above. Without the non-cash impairment charge, the Company’s net loss would have been approximately $240 thousand or $0.03 per share compared to a net loss of $0.08 per share for the third quarter last year.

The impairment was driven by an increase in interest rates which increased the discount rate used in the fair value calculation, a decrease in operating margins in our business and the industry as a whole and reductions in market revenue projections used in our fair value calculations.

Net revenue decreased 5.8% to $75.9 million for the nine-month period ended September 30, 2026 compared to $80.6 million for the same period last year. Station operating expense increased 1.2% for the nine-month period to $69.7 million compared to the same period last year. For the nine-month period, we had an operating loss of $12.4 million compared to an operating loss of $1.5 million for the same period last year, and station operating income (a non-GAAP financial measure) of $6.2 million compared to $11.7 million for the same period last year. Without the non-cash impairment charge for the nine-month period the Company’s operating loss would have been $3.2 million. Capital expenditures for the nine-months were $2.9 million compared to $2.6 million for the same period last year. We had a net loss of $8.5 million, or $1.34 per fully diluted share, for the nine month period primarily as a result of the non-cash impairment charge previously disclosed compared to a net loss of $979 thousand or $0.15 per share for the same period last year. Without the non-cash impairment charge, the Company’s net loss would have been approximately $1.7 million or $0.26 per fully diluted share compared to a net loss of $0.15 per share for the same period last year.

For the quarter ended September 30, 2026, we recorded $154 thousand of non-cash rent expense. This was attributable to the previously reported sale of 24 telecommunications towers and related property in October of last year for a total cash purchase price of $10.7 million, as amended in the second quarter of 2026 to provide for market rent under the related leases and promissory notes payable to the Company, which are offset against our lease payments. This non-cash rent expense is partially offset by non-cash interest income on the notes of $127 thousand for the quarter. The Company retains long term access to those assets with no cash expense. Without this non-cash expense our station operating expense would have decreased 2.3% for the quarter. For the nine-month period ended September 30, 2026 we recorded $561 thousand of non-cash rent expense. Going forward we expect to continue to record approximately $154 thousand per quarter and $616 thousand per year in non-cash rental expense attributable to the tower sale. Net revenues for the quarter and year to date ended September 30, 2026 were reduced by $188 thousand for the quarter and $564 thousand for the year to date due to the transfer of certain income producing leases associated with the towers that were sold. Adjusting for the sale net revenue would have decreased 4.7% for the quarter and 5.1% for the year.

Gross political revenue was $1.2 million and $73 thousand, respectively, for the third quarter in 2026 and 2025. Gross political revenue was $1.9 million for the nine-month period ended September 30, 2026 compared to $395 thousand for the comparable period last year. The Company has approximately $3.6 million of gross political revenue sold for the fourth quarter.

The Company’s balance sheet reflects $23.5 million in cash and short-term investments as of September 30, 2026 and $22.4 million as of November 9, 2026. The Company expects to spend approximately $3.0 – $3.5 million for capital expenditures during 2026.

The Company paid a quarterly dividend of $0.25 per share on October 16, 2026. The aggregate amount of the quarterly dividend was approximately $1.6 million.

Saga’s Board of Directors today declared a quarterly cash dividend of $0.25 per share, reflecting the Board’s continued commitment to a disciplined and balanced approach to capital allocation. The dividend will be paid on December 11, 2026 to shareholders of record on November 23, 2026. The aggregate amount of the payment will be approximately $1.6 million. Including the recently declared dividend, the Company will have paid over $148 million in dividends to shareholders since the first special dividend was paid in 2012.

The Board regularly evaluates Saga’s capital allocation priorities with a focus on maximizing long-term shareholder value. In maintaining the quarterly dividend, the Board determined that the Company’s current financial position provides flexibility to continue returning capital to shareholders while also investing in Saga’s strategic priorities and digital transformation and evaluating other opportunities to deploy capital. The Board will continue to assess dividends, share repurchases, investments in the business and other potential uses of capital based on the relative opportunities available to create long-term shareholder value.

Saga’s 2026 Third Quarter conference call will be held on Thursday, November 12, 2026 at 11:00 a.m Eastern time. The dial-in number for the call is (973) 528-0008. Enter conference code 707110. A recording and transcript of the call will be posted to the Company’s website as soon as it is available after the call.

The Company requests that all parties that have a question that they would like to submit to the Company please email the inquiry by 10:00 a.m. Eastern time on November 12, 2026 to SagaIR@sagacom.com. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing directions will be discussed during the call.

Saga utilizes certain financial measures that are not calculated in accordance with generally accepted accounting principles (GAAP) to assess its financial performance. The attached Selected Supplemental Financial Data tables disclose the Company’s reconciliation of non-GAAP measures: GAAP operating income to station operating income, GAAP net income to trailing twelve-month consolidated EBITDA, as well as other financial data. Such non-GAAP measures include station operating income and trailing 12-month consolidated EBITDA. These non-GAAP measures are generally recognized by the broadcasting industry as measures of performance and are used by Saga to assess its financial performance including, but not limited to, evaluating individual station and market-level performance, evaluating overall operations, evaluating the Company’s financial position, and as a primary but not exclusive measure for incentive-based compensation of executives and other members of management. Saga’s management believes these non-GAAP measures are used by analysts who report on the industry and by investors to provide meaningful comparisons between broadcasting groups, as well as an indicator of their market value. These measures are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not as a substitute for the results of operations presented on a GAAP basis, including net operating revenue, operating income, and net income. Reconciliations for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the Selected Supplemental Financial Data tables.

This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10Q. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement.

Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a focus on providing opportunities complementary to our core radio business including digital, e-commerce, local on-line news services and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 28 AM radio stations and 78 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.

Contact:
Samuel D. Bush
(313) 886-7070

Saga Communications, Inc. Selected Consolidated Financial Data For the Three and Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s except per share data) (Unaudited)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
Operating Results
Net operating revenue	$	26,656			$	28,166			$	75,925			$	80,607
Station operating expense		24,247				24,674				69,695				68,863
Corporate general and administrative		2,779				2,820				8,431				9,061
Depreciation and amortization		1,183				1,307				3,541				3,900
(Gain) loss on sale of assets, net		(990	)			(9	)			(2,540	)			298
Impairment of intangible assets		9,212				—				9,212				—
Operating loss		(9,775	)			(626	)			(12,414	)			(1,515	)
Interest expense		41				108				224				322
Interest income		(295	)			(216	)			(1,107	)			(648	)
Other expense (income), net		26				(81	)			(30	)			(105	)
Loss before income tax expense		(9,547	)			(437	)			(11,501	)			(1,084	)
Income tax (benefit) expense
Current		—				290				75				130
Deferred		(2,455	)			(195	)			(3,050	)			(235	)
		(2,455	)			95				(2,975	)			(105	)
Net loss	$	(7,092	)		$	(532	)		$	(8,526	)		$	(979	)
Loss per share:
Basic	$	(1.11	)		$	(0.08	)		$	(1.34	)		$	(0.15	)
Diluted	$	(1.11	)		$	(0.08	)		$	(1.34	)		$	(0.15	)
Weighted average common shares		6,101				6,164				6,089				6,156
Weighted average common and common equivalent shares		6,101				6,164				6,089				6,156

	September 30,
	2026			2025
Balance Sheet Data
Working capital	$	24,378		$	31,951
Net fixed assets	$	44,443		$	47,154
Net intangible assets and other assets	$	96,662		$	120,864
Total assets	$	183,046		$	218,352
Long-term debt	$	—		$	5,000
Stockholders’ equity	$	140,019		$	162,057

Saga Communications, Inc. Selected Consolidated Financial Data Statement of Cash Flows For the Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s except per share data) (Unaudited)
	Nine Months Ended
	September 30,
	2026				2025
	(Unaudited)
	(In thousands)
Cash flows from operating activities:
Net loss	$	(8,526	)		$	(979	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		3,541				3,900
Deferred income tax benefit		(3,050	)			(235	)
Amortization of deferred costs		15				24
Compensation expense related to restricted stock awards		1,554				1,648
Provision for credit losses		402				372
(Gain) Loss on sale of assets, net		(2,540	)			298
Extinguishment of deferred financing costs		34				—
Gain on insurance claim		(64	)			(105	)
Non-cash rent expense		561				—
Non-cash interest income		(508	)			—
Barter revenue (net)		(92	)			(147	)
Impairment of intangible assets		9,212				—
Deferred and other compensation		(268	)			(106	)
Changes in operating lease assets and liabilities (net)		(45	)			(64	)
Changes in assets and liabilities:
(Increase) decrease in current assets		(1,418	)			(1,005	)
(Decrease) increase in accounts payable, accrued expenses, and other liabilities		(253	)			1,881
Total adjustments		7,081				6,461
Net cash (used in) provided by operating activities		(1,445	)			5,482
Cash flows from investing activities:
Purchase of short-term investments		(18,879	)			(13,619	)
Redemption of short-term investments		18,879				13,619
Acquisition of property and equipment (Capital Expenditures)		(2,922	)			(2,600	)
Proceeds from sale and disposal of assets		3,993				37
Proceeds from insurance claims, redemption of investments and other		64				105
Net cash provided by (used in) investing activities		1,135				(2,458	)
Cash flows from financing activities:
Cash dividends paid		(3,176	)			(4,824	)
Payments on long term debt		(5,000	)			—
Purchase of treasury shares		(30	)			—
Net cash used in financing activities		(8,206	)			(4,824	)
Net decrease in cash and cash equivalents		(8,516	)			(1,800	)
Cash and cash equivalents, beginning of period		22,506				18,860
Cash and cash equivalents, end of period	$	13,990			$	17,060

Saga Communications, Inc. Selected Supplemental Financial Data Reconciliation of GAAP Operating Loss to Station Operating Income (a non-GAAP financial measure) For the Three and Nine Months Ended September 30, 2026 and 2025 (amounts in 000’s) (Unaudited)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026					2025
Operating loss	$	(9,775	)		$	(626	)		$	(12,414	)			$	(1,515	)
Plus:
Corporate general and administrative		2,779				2,820				8,431					9,061
(Gain) loss on sale of assets, net		(990	)			(9	)			(2,540	)				298
Impairment of intangible assets		9,212				—				9,212					—
Depreciation and amortization		1,183				1,307				3,541					3,900
Station operating income	$	2,409			$	3,492			$	6,230				$	11,744
Other financial data
Depreciation and amortization:
Radio Stations	$	1,147			$	1,263			$	3,419				$	3,770
Corporate	$	36			$	44			$	122				$	130
Compensation expense related to restricted stock awards	$	488			$	518			$	1,554		(1)		$	1,648		(1)
(Gain) loss on sale of assets, net(2)	$	(990	)		$	(9	)		$	(2,540	)			$	298
Other income, net(2)	$	26			$	(81	)		$	(30	)			$	(105	)
Deferred income tax (benefit) expense(2)	$	(2,455	)		$	(195	)		$	(3,050	)			$	(235	)
Impairment of intangible assets(2)	$	9,212			$	—			$	9,212				$	—
Non-cash rent expense	$	154			$	—			$	561		(1)		$	—		(1)
Non-cash interest income	$	(127	)		$	—			$	(508	)	(1)		$	—		(1)
Acquisition of property and equipment (Capital Expenditures)	$	881			$	590			$	2,922		(1)		$	2,600		(1)
(1)  As presented in the Statement of Cash Flows in the Selected Consolidated Financial Data tables
(2)  As presented in the Operating Results in the Selected Consolidated Financial Data tables

Saga Communications, Inc. Selected Supplemental Financial Data Reconciliation of GAAP Net Loss to Trailing 12 Month Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”(1)) (a non-GAAP financial measure) September 30, 2026 (amounts in 000’s) (Unaudited)
					Less:				Plus:				Trailing
	12 Months Ended				9 Months Ended				9 Months Ended				12 Months Ended
	December 31,				September 30,				September 30,				September 30,
	2025				2025				2026				2026
Net loss	$	(7,899	)		$	(979	)		$	(8,526	)		$	(15,446	)
Exclusions:
Gain (loss) on sale of assets, net		11,522				(298	)			2,540				14,360
Impairment of goodwill		(19,229	)			—				—				(19,229	)
Impairment of intangible assets		(1,168	)			—				(9,212	)			(10,380	)
Other income, net		1,088				900				1,229				1,417
Total exclusions		(7,787	)			602				(5,443	)			(13,832	)
Consolidated adjusted net loss		(112	)			(1,581	)			(3,083	)			(1,614	)
Plus:
Interest expense		420				322				224				322
Income tax benefit		(2,570	)			(105	)			(2,975	)			(5,440	)
Non-cash rent expense		54				—				561				615
Depreciation & amortization expense		5,178				3,900				3,541				4,819
Non-cash compensation		2,132				1,648				1,554				2,038
Trailing twelve month consolidated EBITDA	$	5,102			$	4,184			$	(178	)		$	740
(1)  We have continued to utilize the calculation prescribed by our previous Credit Facility for period to period comparison.

EVANSVILLE, Ind., Nov. 12, 2026 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (the “Company” or “Old National”) today announced that its Board of Directors declared a quarterly cash dividend of $0.145 per share on the Company’s outstanding shares of common stock. This quarterly cash dividend will be payable on December 15, 2026, to shareholders of record as of the close of business on December 5, 2026.

In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on February 20, 2027, to shareholders of record as of the close of business on February 5, 2027.

ABOUT OLD NATIONAL
Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $74 billion of assets and $41 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2026, Points of Light named Old National one of “The Civic 50” for the third consecutive year – an honor recognizing the 50 most community-minded companies in the United States – and also named Old National the Financials Sector Leader among nominated banks and financial services organizations.

Investor Relations:
Lynell Durchholz
(812) 464-1366
Lynell.Durchholz@oldnational.com

Media Relations:
Scott Reinhard
(612) 716-0304
Scott.Reinhard@oldnational.com

EVANSVILLE, Ind., Nov. 12, 2026 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (the “Company” or “Old National”) today announced that its Board of Directors declared a quarterly cash dividend of $0.145 per share on the Company’s outstanding shares of common stock. This quarterly cash dividend will be payable on December 15, 2026, to shareholders of record as of the close of business on December 5, 2026.

In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on February 20, 2027, to shareholders of record as of the close of business on February 5, 2027.

ABOUT OLD NATIONAL
Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $74 billion of assets and $41 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2026, Points of Light named Old National one of “The Civic 50” for the third consecutive year – an honor recognizing the 50 most community-minded companies in the United States – and also named Old National the Financials Sector Leader among nominated banks and financial services organizations.

Investor Relations:
Lynell Durchholz
(812) 464-1366
Lynell.Durchholz@oldnational.com

Media Relations:
Scott Reinhard
(612) 716-0304
Scott.Reinhard@oldnational.com

Licensed Football Agent and Former Professional Footballer Engaged as Senior Football Advisor to Support the Build-Out of ASG’s Football Representation Business

PALO ALTO, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Game Your Game, Inc. (Nasdaq: GYGY) (“GYG” or the “Company”), an AI-powered sports performance technology company, today announced that Altus Sports Group, Inc. (“ASG”), its majority-owned subsidiary, has engaged Colin Gordon, through ASG’s UK subsidiary, as Senior Football Advisor, a consulting role. Gordon, a licensed football agent with more than three decades in professional football and player representation, began his engagement effective November 1, 2026.

The engagement is ASG’s first senior football hire since its formation in August 2026 and a step in ASG’s strategy to build a representation platform for leading football agents, designed to give them the infrastructure and support to grow their client rosters and serve players and coaches better. Gordon will advise ASG’s senior management on football strategy and support the development of ASG’s football representation business.

“Football is one of the world’s largest sports markets, and relationships decide who wins in it,” said Soumya Das, Chairman and Chief Executive Officer of Game Your Game. “Colin has spent decades building exactly those relationships with players, coaches, agents and clubs. Bringing him into ASG gives us an experienced operator to help build our football representation business.”

An Experienced Agent and Agency Founder

A former professional footballer, Gordon co-founded Key Sports Management in 1999, where his former clients included Theo Walcott, former England manager Steve McClaren and former England goalkeeper David James. He left Key Sports in 2016. Since leaving Key Sports, he has continued his agency work across several organizations, was majority owner of National League club Kidderminster Harriers and helped establish the football division of M&C Saatchi. He holds a FIFA football agent license.

“Colin has built a representation business and attracted agents of strong character, which is what we intend to do at ASG,” said Michele Rinchiuso, Chief Executive Officer of ASG. “He knows the game from the dressing room to the negotiating table. He also shares our belief that agents can grow faster on a shared platform with the right infrastructure behind them.”

Building ASG’s Football Representation Business

In his role, Gordon will help identify and bring partner agencies, licensed agents and coaches onto the platform ASG is building, build ASG’s roster of represented players and coaches, and originate representation and transfer mandates. ASG is being designed to give agents who join the infrastructure and support of a dedicated football representation platform, with the backing of its parent, GYG. ASG expects Gordon’s relationships with agents, coaches and clubs to help it identify potential partnerships and acquisitions in football representation.

“Representation is changing,” said Colin Gordon. “Players and agents want more than a deal-maker. They want infrastructure and support that can be hard for an independent agency to build on its own. ASG is building a platform designed to provide that, and I’m excited to help bring the right agents, players and coaches into it.”

About Game Your Game, Inc.

Game Your Game, Inc. (Nasdaq: GYGY) is an AI-powered sports performance technology company. The Company develops and markets the GameGolf KZN AI™ platform, an integrated golf performance ecosystem of proprietary shot-tracking hardware and subscription-based software solutions. The platform leverages advanced GPS tracking, embedded neural network technology, and AI-powered analytics to provide golfers of all skill levels with real-time insights, on-course strategy recommendations, and personalized performance data. Game Your Game’s technology has been used by golfers in more than 140 countries, with over 36,000 golf courses mapped and an estimated 300 million shots recorded through January 2024. The Company is headquartered in Palo Alto, California. For more information, visit www.gameyourgame.com.

About Altus Sports Group, Inc.

Altus Sports Group, Inc., a majority-owned subsidiary of Game Your Game, Inc., was formed in August 2026 to build a connected platform for the sports business across talent representation, athlete branding and sports marketing. For more information, visit www.altus-sports.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the anticipated contribution of Mr. Gordon to ASG; the growth of ASG’s football representation business; ASG’s ability to attract talent agents, coaches, clients and partners to its platform; any potential acquisitions, investments or partnerships and the timing, likelihood and success thereof; and the Company’s expectations regarding its business and industry. Forward-looking statements are generally identified by words such as “may,” “could,” “will,” “expects,” “intends,” “plans,” “seeks,” “believes,” “anticipates,” “estimates,” “potential,” “continue” and similar expressions, or the negative of these terms or other comparable terminology. These statements are based on current expectations and assumptions that are subject to significant risks and uncertainties, many of which are beyond the Company’s control, including, among others: the ability of ASG to attract and retain talent agents, clients and key personnel, including Mr. Gordon and ASG’s founding team; ASG’s limited operating history and the fact that ASG has not yet generated revenue; the Company’s limited experience operating outside the golf technology industry; the fact that Mr. Gordon is engaged as a consultant whose engagement may be terminated, and that there can be no assurance that any of his current or former clients, or any other agents, players or coaches, will engage ASG; the ability of ASG to identify, negotiate, finance and complete any acquisitions, investments or partnerships on acceptable terms or at all; the Company’s need for substantial additional capital to fund its operations, including ASG, and any acquisitions; the Company’s ability to regain compliance with Nasdaq’s minimum bid price requirement and maintain the listing of its common stock; the interests of ASG’s minority stockholders; fluctuations in foreign currency exchange rates, including the British pound; competition in the sports representation and marketing industries; FIFA, Football Association, league and other regulatory rules applicable to football agents and talent representation; general economic and market conditions; and the other risks described in the Company’s filings with the Securities and Exchange Commission, including the risk factors described in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, the Company’s Registration Statement on Form S-1 (File No. 333-296763), as amended, which was declared effective by the SEC on July 28, 2026, and the prospectus forming a part thereof, and other periodic and current reports filed with the SEC from time to time, which are available at www.sec.gov. Actual results may differ materially from those expressed or implied in forward-looking statements. The Company undertakes no obligation to update any forward-looking statement, except as required by law. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Investor and Media Contact

KCSA Strategic Communications
Phil Carlson, Managing Director
GYGY@KCSA.com