TORONTO, Aug. 2, 2019 /CNW/ - National Access
Cannabis Corp. ("NAC" or the "Company") (TSXV: META),
Canada's largest cannabis
retailer1, announces that it has filed and received a
receipt from the Ontario Securities Commission dated August 2, 2019 (the "Receipt") for a final
base shelf prospectus of the Company dated August 1, 2019 (the "Final Prospectus").
The Final Prospectus was filed with the securities regulatory
authorities in each of the Provinces of Canada, other than Quebec.
"The base shelf provides our Company with maximum flexibility to
access future capital as needed in order to execute on our
strategic growth initiatives," said Mark Goliger, CEO of
NAC.
The Final Prospectus will enable NAC to complete 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") from
time to time during the 25-month period that the Final Prospectus
remains effective.
The Securities may be offered in amounts, at prices and on terms
to be determined based on market conditions at the time of sale and
set forth in an accompanying prospectus supplement (each, a
"Prospectus Supplement"). In addition, the Securities may be
offered and issued in consideration for the acquisition of other
businesses, assets or securities by the Company or one of its
subsidiaries. The consideration for any such acquisition may
consist of the Securities separately, a combination of Securities
or any combination of, among other things, Securities, cash and
assumption of liabilities. The specific terms of any Securities
offered and the intended use of the net proceeds resulting from
such offering will be described in the applicable Prospectus
Supplement.
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.
A copy of the Final Prospectus can be found under the
Company's profile on SEDAR at www.sedar.com. Copies of the
Final Prospectus may also be obtained by contacting the Corporate
Secretary of the Company at Centennial Place, 520 3 Ave SW #1900,
Calgary, AB T2P 0R3, telephone:
403-232-9600.
About National Access Cannabis Corp.
NAC is
Canada's largest recreational
cannabis retailer1. With a portfolio of 34 licensed
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).
1Canaccord Genuity, Canadian Cannabis Report,
July 17, 2019
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 potential offering and 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.