TORONTO, Jan. 9, 2020
/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 Patricia Gertrude Donnelly, one of the winners
of the Ontario cannabis store
lottery, relating to a new
Kitchener cannabis retail location. META anticipates that
this will be the first legal cannabis store to open in Kitchener, Ontario.
The winner submitted 589 Fairway Road South in Kitchener as the store location. Pending
regulatory approval by the AGCO, and pursuant to the terms of
the Agreement, the retail location will be independently owned
and operated by the winner, with Meta Growth acting as a consulting
partner and service provider, for a 5-year term, to
support the store's operations.
"The Kitchener store is an
opportunity to introduce the city's cannabis consumers to the
new Meta Cannabis Co. brand," said Mark
Goliger, CEO of Meta Growth. "With our first to market
advantage in the region, combined with our newly announced
Toronto META location, we have a solid foundation for a
successful rollout of META stores across the province."
"Opening the first licensed cannabis store in Kitchener is an exciting launch for us and the
customers in the area", said Patricia
Gertrude Donnelly, the Ontario cannabis lottery winner. "We look
forward to working with META based on their ability to launch and
operate in new markets as well as across several provinces, coupled
with a beautiful and efficient retail design in their Meta Cannabis
Co. stores."
The Kitchener location will be
the second retail store in Ontario
that the Company has announced under the Meta Cannabis Co. banner.
This announcement follows the December 19,
2019 announcement that META had entered into an agreement
with a winner of the Ontario
cannabis lottery for a store in Toronto.
New Meta Cannabis Co. Retail Brand and Store Design
The registered retail store name is Meta Cannabis
Co. Fairway. It is the second store under the Company's
newly redesigned national retail banner. The new space concept is
designed to be a cool and comfortable environment that is all about
customer experience. The new logo design has also evolved into a
multidimensional word mark which represents vibe, cannabis
culture, being introspective and going beyond.
Meta Growth National Cannabis Retail Network
Meta Growth currently has 36 licenses and 34 operating stores in
its nationwide network (either owned or in partnership) in
Manitoba, Saskatchewan, Alberta and British
Columbia. Ten of the locations are Meta Cannabis Supply Co.
stores, 25 are NewLeaf Cannabis stores and one is a joint venture
named Sicamous Trading Company. The Company plans to have a network
of 90 operating stores in five provinces including Ontario by the end of 2020, pending provincial
regulatory approvals.
About Meta Growth
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 Kitchener
cannabis retail store, the number of customers who may potentially
visit this cannabis retail store, and the opening of other cannabis
retail stores in Ontario and
across Canada. 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 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