- Completes acquisition of New Leaf Emporium Inc., adding
Moose Jaw, Saskatchewan location,
and province-wide e-commerce operations, to NAC's industry leading
portfolio of recreational cannabis retail stores.
- With 24 stores in Alberta,
Manitoba and Saskatchewan, NAC has the largest footprint of
any private or public cannabis retailer in Canada, according to provincial licensing
statistics.
- The Company expects to have 40 stores operating by the end
of calendar 2019, and 110 by the end of calendar 2020.
TORONTO, April 18, 2019 /CNW/ - National
Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META),
Canada's largest private cannabis
retailer, today announced it has closed the previously announced
acquisition of Saskatchewan-based
New Leaf Emporium Inc. ("New Leaf Emporium") and will take full
operation of the New Leaf Emporium retail cannabis store and offer
online sales throughout Saskatchewan.
"Today we're operating in three provinces," said Mark Goliger, CEO of NAC. "No other cannabis
retailer has our provincial footprint. We're the national leader in
cannabis retail, having opened 24 stores to date in the complex
regulatory markets of Alberta,
Manitoba, and Saskatchewan, however, the journey is just
beginning for our Company and our industry. Our team is
focused on building our national retail footprint to 40 stores by
the end of calendar 2019, and to 110 stores by the end of calendar
2020. British Columbia is our next target market, followed
by Ontario."
NAC will take full operation of the New Leaf Emporium retail
cannabis store, open since October 22,
2018, in central Moose Jaw
at the corner of Main and Athabasca and offer online sales throughout
Saskatchewan. The New Leaf
Emporium store is one of only two stores serving Moose Jaw's population of 35,000.
The Company currently has 24 cannabis retail locations open in
total, distributed provincially as follows:
- 14 in Alberta
- 9 in Manitoba
- 1 in Saskatchewan
In addition to the 24 bricks and mortar stores, NAC is also
allowed to sell via its e-commerce platform in the provinces of
Manitoba and Saskatchewan, based on provincial
regulations.
Previous announcements regarding NAC's retail store expansion
may be found through the following links:
April 16, 2019, National Access
Cannabis Generates $16.2 million in
Revenue in Q2 2019. Retail Cannabis Stores Generate $15.9 million in Revenue and Adjusted
EBITDA[1] of $1.8
million
January 16, 2019, National Access
Cannabis Corp. Enters Agreement to Acquire 100% of New Leaf
Emporium Inc. and Looks to Expand Retail Operations to Saskatchewan
November 21, 2018, National Access
Cannabis becomes Canada's largest
private recreational cannabis retailer by store count, leading the
country with 17 stores
May 15, 2018, NAC Launches Meta
Cannabis Supply Co., a Premium Retail Cannabis Store Brand, for the
Canadian Recreational Market
About National Access Cannabis Corp.
NAC is
Canada's largest recreational
cannabis retailer. With 24 retail locations nationwide, NAC is the
leader in secure, safe and responsible access to legal recreational
cannabis in Canada. Through its
Canada-wide network of Meta
Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational cannabis
retail stores and NAC Medical's cannabis clinics and pharmacy
partnerships, NAC enables the public and registered patients to
gain knowledgeable access to Canada's network of authorized Licensed
Producers of cannabis. NAC is listed on the TSX Venture Exchange
under the symbol (TSXV: META).
For more information,
visit:
http://www.nationalaccesscannabis.com/
www.metacannabis.com
www.newleafcannabis.ca
www.nacbio.com
www.nacmedical.com
Cautionary Statements
This news release contains forward looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward looking
statements or information. Forward-looking statements and
information in this news release includes, but is not limited
to, the opening dates for NAC cannabis retail
stores, the number of NAC cannabis retail stores expected to open
and/or become licensed, and the Company's provincial growth plans.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements and information
are based are reasonable, undue reliance should not be placed on
the forward-looking statements and information because the Company
cannot give any assurance that they will prove to be
correct. Since forward looking statements and information
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results and
developments may differ materially from those that are currently
contemplated by these statements depending on, among other things,
risks relating to the ability to obtain or maintain licenses to
retail cannabis products; future legislative and regulatory
developments involving cannabis; the ability of the Company to
implement its business strategy; inability to access sufficient
capital from internal and external sources, and/or inability to
access sufficient capital on favourable terms; the labour market
generally and the ability to access, hire and retain employees; and
the cannabis industry in Canada
generally. The Company cautions that the foregoing list of risks
and uncertainties is not exhaustive.
The forward-looking statements and information contained in
this news release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statement or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE National Access Cannabis Corp.