TORONTO, Nov. 19, 2019 /CNW/ - National Access Cannabis
Corp (TSXV: META) d/b/a Meta Growth ("Meta Growth", "META" or
"the Company"), Canada's largest
publicly traded recreational cannabis retailer by
revenue1, is pleased to announce that it has reached a
new agreement to extend its $9,000,000 loan (the "Loan") from
Opaskwayak Cree Nation ("OCN") to December 31, 2022.
The original Loan was set to mature on December 14, 2019. As one of META's largest
shareholders, owning approximately 10.8 million shares, OCN has
agreed to extend the maturity of the Loan until December 31, 2022, at an interest rate of 10% per
annum, and an annual administration fee of $225,000.
"OCN sees the ongoing investment into META as a growth
opportunity for both META and OCN. The income that OCN
generates from the interest on the Loan helps OCN with investing in
our community infrastructure, such as housing," said Christian Sinclair, Onekanew (Leader) of OCN and
Board Member of META. "We hope to continue to capitalize on
opportunities with META as the Ontario government is anticipated to issue
additional licenses for cannabis retail locations."
"OCN has been a significant stakeholder in META since the
Company's inception," said Mark
Goliger, CEO of META. "By keeping the money in the Company,
we can take advantage of growth opportunities, including expanding
into the Ontario market in
2020. We are very grateful of OCN's continued support of
META."
About Meta Growth
With a portfolio of 35 licensed
retail locations nationwide, META is a 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,
META enables the public to gain knowledgeable access to
Canada's network of authorized
Licensed Producers of cannabis. META is listed on the TSX Venture
Exchange under the symbol (TSXV: META).
For more information on Meta Growth, visit:
metagrowth.com
metacannabis.com
newleafcannabis.ca
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,
potential regulatory changes affecting the cannabis
retail environment and cannabis retail licensing in the
province of Ontario, and the number of cannabis
retail locations expected to open and/or become licensed in the
future. 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
future legislative and regulatory developments; 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, regulatory and social
uncertainties; the delay or failure to receive regulatory approvals
and the recreational 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.
1
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New Cannabis
Ventures, Public Cannabis Company Revenue & Income Tracker.
Largest publicly traded cannabis retailer by
revenue.
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SOURCE National Access Cannabis Corp.