TORONTO, June 19, 2019 /CNW/ - National Access Cannabis
Corp. ("NAC" or "the Company") (TSXV: META), Canada's largest cannabis retailer according
to provincial licensing statistics, today announced that it has
filed and received a receipt for a preliminary base shelf
prospectus (the "Base Shelf") with the securities
commissions in each of the provinces of Canada, except Quebec.
"Growing our industry leading footprint from a portfolio of 28
stores to 110 stores by the end of calendar 2020 will require
growth capital," said Mark Goliger,
CEO of NAC. "The base shelf will provide our Company with maximum
flexibility to access capital in the future in order to execute on
our strategic growth initiatives."
The Base Shelf, when made final, will enable offerings of up to
$200 million of common shares,
preferred shares, subscription receipts, warrants, units, and debt
securities, or any combination thereof (collectively, the
"Securities") at any time during the 25-month period that
the final base shelf prospectus is effective.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy Securities, nor will there be any
sale of the Securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under securities laws of any such jurisdiction.
If any Securities are offered in the future, the terms of any
such Securities and the intended use of the net proceeds resulting
from such offering would be established at the time of the offering
and would be described in a prospectus supplement filed with the
applicable Canadian securities regulatory authorities.
About National Access Cannabis Corp.
NAC is
Canada's largest recreational
cannabis retailer by provincial store count. With a portfolio of 28
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
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.
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 number of NAC cannabis retail stores expected to open and/or
become licensed, the issuance of Securities, the terms thereof and
the use of proceeds from the sale of such Securities. 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, including the
number of NAC cannabis retail stores expected to open, 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; general business, economic, competitive,
political and social uncertainties; timing and completion of
construction of the Company's retail locations; the delay or
failure to receive regulatory approvals; 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 recreational and medical
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.
SOURCE National Access Cannabis Corp.