TORONTO, Dec. 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, today announced that it has entered into an
agreement (the "Agreement") with one of the winners of the
Ontario cannabis store lottery for
an anticipated new Toronto
cannabis retail location.
The winner of the lottery, 11522302 Canada Inc., submitted 378
Yonge Street in downtown Toronto
as the store location. Pending regulatory approval by the Alcohol
and Gaming Commission of Ontario
("AGCO"), the retail location will be independently owned and
operated by 11522302 Canada Inc, and pursuant to the Agreement,
Meta Growth will act as a consulting partner and service provider
to support the store's operations. This location has now commenced
a mandatory 15-day public notice period which serves to notify the
public that an application has been submitted for a cannabis retail
store at that location.
"With today's announcement, the newly refined META brand is set
to launch in Ontario – a solid
first step to spark our expansion across the province," said
Mark Goliger, CEO of Meta Growth.
"This premium real estate location will introduce a high volume of
customers to the META brand. Through our agreement with the owner,
we plan to make this site one of the top performing stores in the
country."
"The new META store on Yonge Street is exciting for us," the
store's owner said in a statement. "We are working with META
because of its experience managing multiple cannabis retail
outlets across several provinces, as well as its cannabis product
and service expertise and the stunning retail design of its stores.
We look forward to our store standing out in this competitive
cannabis market."
New Meta Cannabis Co. Retail Brand and Store Design
The registered retail banner for the store is Meta Cannabis
Co. 378 Yonge, which will be the first store to be opened under
the new redesigned Meta Cannabis Co. brand and retail design
developed by META, for the future roll out of the national retail
chain. The new retail space concept is multidimensional and is
designed to be a cool and comfortable environment, which is all
about vibe and customer experience. The new Meta Cannabis Co. logo
design has been redesigned to be a multidimensional wordmark, which
represents vibe, cannabis culture, being introspective and going
beyond.
Meta Growth National Cannabis Retail Network
Meta Growth currently has 36 licences and 34 operating stores in
its network, either owned or with partnership interest, in
Manitoba, Saskatchewan, Alberta and British
Columbia. Ten of those locations are Meta Cannabis Supply
Co. stores, 25 of those locations are NewLeaf Cannabis stores and
one is a joint venture location named Sicamous Trading Company. The
Company plans to have a network of 90 operating stores by the end
of 2020, in Ontario, Manitoba, Saskatchewan, Alberta and British
Columbia, pending provincial regulatory approvals.
About Meta Growth
With a portfolio of 36 licensed retail locations in its
nationwide network, Meta Growth is a leader in secure, safe and
responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co.™,
Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational
cannabis retail stores, Meta Growth enables the public to gain
knowledgeable access to Canada's
network of authorized Licensed Producers of cannabis. National
Access Cannabis d/b/a Meta Growth 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,
the opening of the 378 Yonge Street cannabis retail store and the
number of customers who may potentially visit this cannabis retail
store. 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
378 Yonge Street location and 11522302 Canada Inc successfully
completing regulatory approvals and the 15 day public notice
period; 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 New Cannabis Ventures, Public
Cannabis Company Revenue & Income Tracker. Largest publicly
traded cannabis retailer by revenue.
SOURCE National Access Cannabis Corp d/b/a Meta Growth