Company Reiterates Ontario Expansion is Number
1 Priority
TORONTO, Feb. 20, 2020
/CNW/ - National Access Cannabis Corp. (TSXV: META)
("Meta Growth", "META" or the
"Company"), Canada's largest publicly traded recreational
cannabis retailer by revenue1, is pleased to announce
that its shareholders approved all resolutions placed before them
by management at the Company's annual and special meeting of
shareholders held on February 19,
2020 (the "Meeting").
At the Meeting, a special resolution was passed to change the
name of the Company from National Access Cannabis Corp. to Meta
Growth Corp. The name change is subject to filing Articles of
Amendment and obtaining requisite regulatory approval, including
from the TSX Venture Exchange (the "TSXV"). Upon receipt
of TSXV approval, trading under the new name will begin.
A special resolution was also passed at the Meeting approving an
amendment to the Company's Stock Option Plan (the "Option
Plan") and approving the creation of a Restricted Share Unit Award
Plan ("RSU Plan"). Full copies of the Option Plan and RSU Plan can
be found in the Company's Management Information Circular dated
January 6, 2020 under the
Company's profile on SEDAR (www.sedar.com).
"Our name change allows us to align our corporate brand with our
retail brand, and reflects the Company's evolution from
medicinal to recreational cannabis," said Mark Goliger, CEO of Meta Growth. "Brand
recognition and consistency are key to our success. We
recently opened the first META branded store in Ontario at 378 Yonge Street in downtown
Toronto, and on February 28 we plan to open the
second META branded store in the province, located in Kitchener. With the proceeds from our
recently closed $10 million bought
deal financing, we look forward to opening META corporate stores in
Ontario where our goal is to
obtain a first-mover advantage by reaching the maximum number of
stores available per operator as quickly as possible."
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. The Company
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,
receipt of approval from the TSXV to the Company's name change, the
opening of the Toronto and
Kitchener cannabis retail stores
and the timing thereof, and the opening of other cannabis retail
stores in Ontario, including the
timing of submission of related applications. 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
receipt of Retail Store Authorizations for the Toronto and Kitchener cannabis retail stores; the ability
of the Company to submit additional store authorization
applications and receipt of related Retail Store
Authorizations; 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 in Canada
by revenue.
SOURCE National Access Cannabis Corp.