TORONTO, Feb. 24, 2020
/CNW/ - Meta Growth Corp. (TSXV: META) ("Meta Growth", "META"
or the "Company"), Canada's
largest publicly traded recreational cannabis retailer by
revenue1, is pleased to announce that it has been
approved by the Alcohol and Gaming Commission of Ontario ("AGCO") for a Cannabis Retail
Operator Licence in the province of Ontario. The licence provides Meta Growth with
the opportunity to expand its retail network across the province of
Ontario, pending all required
regulatory approvals.
The Company has publicly expressed its ambition to expand
across Ontario with the maximum
allowable number of stores, and has already secured various premium
retail sites that, if approved and licenced, will soon be Meta
Cannabis Co. stores. The retail strategy consists of opening
urban and suburban locations to service customers across the
province.
There is currently one open and operating Meta Cannabis Co.
store in Ontario at 378 Yonge
Street, in the heart of downtown Toronto. A second Meta Cannabis Co. location
will open on February 28,
2020 in Kitchener, Ontario. Both of these locations are
owned and operated by separate Ontario Cannabis Lottery winners
with consulting services and brand licensing being provided by Meta
Growth through two separate Service Agreements.
"Securing our Cannabis Retail Operator Licence in Ontario is a necessary milestone for our
expansion in Ontario," said
Mark Goliger, CEO of Meta
Growth. "We have secured urban and suburban prime real estate
which are ready to build and are planned to open as soon as
possible once the licensing approvals begin for the industry in
April 2020. Having recently secured
$21 million in gross financing
through debt and equity, our roll out strategy is to open swiftly
and at scale, leveraging our efficiencies in building and operating
a current retail enterprise network of 35 locations across the
country."
New Meta Cannabis Co. Retail Brand and Store
Experience
While the store front banner and brand Meta Cannabis Supply Co.
has been established in Manitoba
and Saskatchewan, for future
Ontario stores the Company has
enhanced and redesigned its retail store banner and
brand changing the name to Meta Cannabis Co. and altering
store design. The new logo design has evolved into a
multidimensional word mark which represents vibe, cannabis
culture, being introspective and going beyond. The new retail space
concept is designed to be a cool and comfortable environment that
is all about customer experience.
The shopper experience is based on a layout of design-focused
fixtures and product merchandising that is coupled with guidance
and consulting with highly trained staff which are known as
Friendly Guides. The store concept and brand are intended for all
legal age audiences, from novices to cannasseurs. This strategy is
supported by products and purchasing being curated in a range of
price points and quality levels, to serve all customer desires and
diversity.
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,
the opening of the Kitchener
cannabis retail store 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 d/b/a Meta Growth