- New retail store at 130, 5403 Crowchild Trail NW,
Calgary expected to open
June 5th, with 10 built out stores
throughout Alberta currently
awaiting licensing.
- With 25 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.
- NAC continues to execute on its business plan to have 40
stores operating by the end of calendar 2019, and 110 by the end of
calendar 2020.
TORONTO, May 31, 2019 /CNW/ - National Access Cannabis
Corp. ("NAC" or the "Company") (TSXV: META),
Canada's largest private cannabis
retailer, today responded to the Alberta Gaming, Liquor and
Cannabis Commission ("AGLC") lifting the moratorium on new
cannabis retail store openings in Alberta and has indicated that it will be
releasing 5 retail cannabis retail licences per week. NAC expects
to open one new retail location in Calgary on June
5th, with an additional 10 built out stores
throughout Alberta currently
awaiting licensing.
The new retail location is listed below:
Expected to Open June
5:
NewLeaf Cannabis
130, 5403 Crowchild Trail NW
Calgary, Alberta
T3A 2G8
"We've been waiting for this positive news from the AGLC," said
Mark Goliger, CEO of NAC. "We're
ready to open new stores throughout Alberta. We anticipate a new store opening in
the Varsity neighbourhood in Calgary on June
5th, with 18 additional licences submitted and 10
stores built out awaiting licensing and regulatory approval. Today,
we have the largest footprint of retail cannabis stores in the
province of Alberta, and
Canada as a whole, and we're
working to maintain this position by continuing to aggressively
pursue expansion opportunities in the early stage, and extremely
high growth, cannabis industry."
NAC is the national leader in retail cannabis. Currently
operating in 3 provinces, NAC has applied for licences in
British Columbia and plans to make
applications for licences in Ontario once licensing opens up to more
private retailers. NAC's experienced team of retail industry
professionals is focussed on achieving its business plan of having
40 operating stores by the end of calendar 2019, and 110 operating
stores by the end of calendar 2020.
Previous announcements regarding NAC's retail store expansion
may be found through the following links:
April 23, 2019, National Access
Cannabis Corp. Continues Growth with License for 25th Canadian
Retail Location
April 18, 2019, National Access
Cannabis Corp. Enters Saskatchewan
and Continues National Retail Expansion with Acquisition of 24th
Retail Location
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
About National Access Cannabis Corp.
NAC is
Canada's largest recreational
cannabis retailer. With 25 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:
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, the
location of such cannabis retail stores and plans to make
applications for licences in Ontario once licensing opens up to more
private retailers. 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 AGLC reinstating its
moratorium, the ability to obtain or maintain licences to retail
cannabis products; future legislative and regulatory developments
involving cannabis including Ontario opening up licensing to more private
retailers; inability to access sufficient capital from internal and
external sources, and/or inability to access sufficient capital on
favourable terms; the competitive conditions of the cannabis
industry; the competitive and business strategies of the Company;
the labour market generally and the ability to access, hire and
retain employees; and the medical and potential 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.