Q1 Revenue Up 45%; $7.7 million vs. $5.4 millionGross Profit Increases to 37% of Sales vs. 36% Prior YearOperating Expenses Decrease to 29% of Sales vs. 33% Prior YearOperating Income $553,000 vs. $198,000Record Net Income of $324,000 vs. Net Loss of $(4,200)

EAST RUTHERFORD, N.J., June 13, 2018 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (OTCQB:MMMB), a manufacturer and marketer of specialty pre-prepared, frozen and refrigerated all-natural food products (as defined by the United States Department of Agriculture), today announced financial results for the first quarter of fiscal year 2019, ended April 30, 2018.

First Quarter Highlights:

-- First quarter of fiscal year 2019 revenue increased 45% to $7.7 million compared to $5.4 million in prior year period. -- Net income available to common stockholders was a record $324,000, or $0.01 per diluted share, during the first quarter of fiscal 2019, compared to a net loss available to common stockholders of $ (51,000), or $(0.00) per diluted share in the same quarter last year. -- EBITDA, for the first quarter was $709,000 compared to $315,000 in the first quarter of fiscal 2018. -- Sales per customer retail location (“SKUs”) increased 25% over prior year.

Carl Wolf, Chairman and CEO of MamaMancini's, commented, "We are pleased with the solid double-digit revenue increase and profitability in the first quarter. We continue to gain measurable traction with our focus on selling into the food service area on the perimeter of the retail grocery store. This continues to enable us to develop larger retail store accounts that drive revenue at superior margins.”

First Quarter 2019 Results Sales, net of slotting fees and discounts, were $7.4 million for the first quarter of fiscal 2019, a 45% increase compared to $5.4 million reported in the first quarter of fiscal 2018. The Company has sold into approximately 44,600 SKU's in retail and grocery locations at April 30, 2018 as compared to approximately 38,600 SKU's in retail and grocery locations at April 30, 2017. Gross profit for the first quarter of fiscal 2018 was $2.8 million, or 37% of sales, compared to $1.9 million, or 36% of sales, in the comparative prior year period. Record net income was for the first quarter of fiscal 2019 was $324,000, compared to a net loss of $(4,200) in the first quarter of fiscal 2018.

Outlook The Company's strategy of developing larger customers and exiting underperforming accounts that do not generate attractive returns has achieved improving operating results. The Company expects a continuation of revenue growth for the foreseeable future as it continues to develop larger accounts and introduce new product lines. As a result, the company is anticipating fiscal 2019 revenues to increase substantially over prior year and report continued profitability.

Conference Call The Company has scheduled a conference call for Thursday, June 14, 2018 at 8:30 a.m. ET, to review the results.

Interested parties may participate on the conference call by dialing (844) 889-4326 or (412) 317-9264. A replay of the conference call will be available by dialing (877) 344-7529 or (412) 317-0088, confirmation code 10121136, through June 21, 2018.

About MamaMancini's MamaMancini's is a marketer and distributor of a line of beef meatballs, turkey meatballs, and chicken meatballs all with sauce, five cheese stuffed beef, turkey and chicken meatballs all with sauce, original beef and turkey meatloaves and bacon gorgonzola beef meatloaf, and other similar Italian cuisine products. The Company's sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as Publix, Shop Rite, Jewel, Save Mart, Lucky's, Lunds and Byerlys, SUPERVALU, Safeway, Albertsons, Whole Foods Market, Shaw's, Kings, Roche Bros., Key Foods, Stop & Shop, Giant, Giant Eagle, Foodtown, Sam's Club, SpartanNash, Hy-Vee, Topps, Kroger, Shoppers, Marsh, King Kullen, Central Markets, Weis Markets, Ingles, and The Fresh Market. The Company sells to distributors such as Sysco, AWI, UNFI, Driscoll Foods, SUPERVALU, Monterrey Provision Co., Burris Logistics and C&S Wholesale Grocers. In addition, the Company sells a wide variety of its products through QVC, the world's largest direct to consumer marketer, via on air presentations, auto ship programs, and direct purchases through the internet.

Forward Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2017 and other filings made by the Company with the Securities and Exchange Commission.

Contact:

Carl WolfChairman and CEO MamaMancini’s Holdings, Inc.Stock Symbol: MMMB973-985-0280

Financial Tables to Follow

MamaMancini’s Holdings, Inc.Condensed Consolidated Balance Sheets

April 30, January 31, 2018 2018 ------------- ------------- (unaudited) Assets Current Assets: Cash $ 479,110 $ 581,322 Accounts receivable, net 3,781,968 3,084,715 Inventories 1,122,595 824,276 Prepaid expenses 188,769 261,980 - ----------- - ----------- Total current assets 5,572,442 4,752,293 - ----------- - ----------- Property and equipment, net 2,764,853 2,499,875 Deposits 20,177 20,177 - ----------- - ----------- Total Assets $ 8,357,472 $ 7,272,345 - ----------- - ----------- Liabilities and Stockholders’ Deficit Liabilities: Current Liabilities: Accounts payable and accrued expenses $ 3,959,001 $ 3,456,918 Line of credit, net 3,174,369 2,688,764 Term loan 106,938 106,938 Note payable – net 1,385,687 1,403,082 - ----------- - ----------- Total current liabilities 8,625,995 7,655,702 - ----------- - ----------- Term loan - net of current 610,292 651,677 Note payable - net of current portion — 250,000 Notes payable - related party 649,656 649,656 - ----------- - ----------- Total long-term liabilities 1,259,948 1,551,333 - ----------- - ----------- Total Liabilities 9,885,943 9,207,035 - ----------- - ----------- Commitments and contingencies Stockholders’ Deficit: Series A Preferred stock, $0.00001 par value; 120,000 shares authorized; 23,400 issued as of April 30, 2018 and January 31, 2018, 0 — — and 23,400 shares outstanding as of January 31, 2018 and 2017 Preferred stock, $0.00001 par value; 19,880,000 shares authorized; — — no shares issued and outstanding Common stock, $0.00001 par value; 250,000,000 shares authorized; 31,823,993 and 31,753,437 shares issued and outstanding as of April 319 319 30, 2018 and January 31, 2018, respectively Additional paid in capital 16,427,012 16,344,794 Accumulated deficit (17,806,302 ) (18,130,303 ) Less: Treasury stock, 230,000 shares, respectively (149,500 ) (149,500 ) - ----------- - ----------- Total Stockholders’ Deficit (1,528,471 ) (1,934,690 ) - ----------- - ----------- Total Liabilities and Stockholders’ Deficit $ 8,357,472 $ 7,272,345 - ----------- - -----------

MamaMancini’s Holdings, Inc.Condensed Consolidated Statements of Operations(unaudited)

For the Three Months Ended ---------------------------- April 30, April 30, 2018 2017 ------------ ------------ Sales - net of slotting fees and discounts $ 7,741,994 $ 5,357,301 Cost of sales 4,913,448 3,414,807 - ---------- - ---------- Gross profit 2,828,546 1,942,494 - ---------- - ---------- Operating expenses Research and development 30,096 33,998 General and administrative expenses 2,244,937 1,710,717 - ---------- - ---------- Total operating expenses 2,275,033 1,744,715 - ---------- - ---------- Income from operations 553,513 197,779 - ---------- - ---------- Other expenses Interest expense (188,141 ) (181,159 ) Amortization of debt discount (41,371 ) (20,853 ) - ---------- - ---------- Total other expenses (229,512 ) (202,012 ) - ---------- - ---------- Net income (loss) 324,001 (4,233 ) Less: preferred dividends — (46,800 ) - ---------- - ---------- Net income (loss) available to common stockholders $ 324,001 $ (51,033 ) - ---------- - ---------- Net income (loss) per common share – basic and diluted $ 0.01 $ (0.00 ) - ---------- - ---------- Weighted average common shares outstanding - basic 31,780,111 27,810,717 - ---------- - ---------- - diluted 34,655,399 27,810,717 - ---------- - ----------

MamaMancini’s Holdings, Inc.Condensed Consolidated Statements of Changes in Stockholders’ DeficitFor the Period from February 1, 2018 through April 30, 2018(unaudited)

Series A Additional Preferred Common Stock Treasury Stock Paid In Accumulated Stockholders’ Stock -------- ------------------- ----------------------- Sha Amou Shares Amount Shares Amount Capital Deficit Deficit res nt -- --- ----------- ----- --------- ---------- ------------ ------------- ------------ Balance, February 1, - $ - 31,753,437 $ 319 (230,000 ) $ (149,500 ) $ 16,344,794 $ (18,130,303 ) $ (1,934,690 ) 2018 Share-based - - - - - - 42,218 - 42,218 compensation Common stock issued for the - - 40,000 - - - 40,000 - 40,000 exercise of options Common stock issued for the - - 30,556 - - - - - 30,556 exercise of warrants Net income - - - - - - - 324,001 324,001 - - - ---------- - --- -------- - -------- - ---------- - ----------- - ---------- Balance, April 30, - $ - 31,823,993 $ 319 (230,000 ) $ (149,500 ) $ 16,427,012 $ (17,806,302 ) $ (1,528,471 ) 2018 - - - ---------- - --- -------- - -------- - ---------- - ----------- - ----------

MamaMancini’s Holdings, Inc.Condensed Consolidated Statements of Cash Flows(unaudited)

For the Three Months Ended ------------------------ April 30, April 30, 2018 2017 ---------- ---------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 324,001 $ (4,233 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation 155,242 117,581 Amortization of debt discount 41,371 17,280 Share-based compensation 42,218 90,150 Changes in operating assets and liabilities: (Increase) Decrease in: Accounts receivable (697,253 ) (483,917 ) Inventories (298,319 ) 163,694 Prepaid expenses 73,211 (34,239 ) Increase (Decrease) in: Accounts payable and accrued expenses 498,427 662,956 - -------- - -------- Net Cash Provided by Operating Activities 138,898 529,272 - -------- - -------- CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for fixed assets (420,220 ) (661,025 ) - -------- - -------- Net Cash Used in Investing Activities (420,220 ) (661,025 ) - -------- - -------- CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of note payable (300,000 ) (300,000 ) Borrowings (repayments) of line of credit, net 480,495 245,046 Repayment of term loan (41,385 ) (35,001 ) Proceeds from exercise of options 40,000 — - -------- - -------- Net Cash Provided by (Used in) Financing Activities 179,110 (89,955 ) - -------- - -------- Net Decrease in Cash (102,212 ) (221,798 ) Cash - Beginning of Period 581,322 670,807 - -------- - -------- Cash - End of Period $ 479,110 $ 449,099 - -------- - -------- SUPPLEMENTARY CASH FLOW INFORMATION: Cash Paid During the Period for: Income taxes $ — $ — - -------- - -------- Interest $ 181,204 $ 66,941 - -------- - -------- SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Stock issued for Series A Preferred dividends $ — $ 46,800 - -------- - -------- Debt issuance costs included in principal balance of note $ — $ 52,236 - -------- - --------