CannaRoyalty expected to distribute various cannabis products through NAC retail locations, which are anticipated to open starting in Q3-2018
OTTAWA, Feb. 16, 2018 /CNW/ - CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) ("CannaRoyalty" or the "Company"), an active investor and operator in the legal cannabis industry, announced today that National Access Cannabis Corp. ("NAC") has been chosen by the government of Manitoba as one of four conditional recipients of licenses to operate privately owned retail cannabis stores in Manitoba. CannaRoyalty has a binding term sheet with NAC regarding the distribution of cannabis products for Manitoba dispensaries. CannaRoyalty, Cannabis Wheaton Income Corp. and Tilray collectively participated in NAC's response to Manitoba's November 2017 Request for Proposals ("RFP"). The number of retail locations to be opened by NAC remains subject to ongoing discussion with the Province.
"We would like to congratulate NAC on this substantial win and appreciate CannaRoyalty's inclusion as part of this RFP," said Marc Lustig, CEO of CannaRoyalty. "This development reinforces the quality of CannaRoyalty's value-added downstream cannabis product portfolio, which has received growing attention from Canadian and international players over the past several months. This partnership will provide NAC access to key elements of CannaRoyalty's product suite, which have been proven in mature, sophisticated markets such as California. As Health Canada finalizes its proposed approach to the regulation of cannabis and moves to allow the production and sale of an extended product shelf such as edibles, pre-rolls and concentrates, we anticipate significant demand from consumers in these areas as we have seen in other mature cannabis markets, globally."
"With a proven portfolio of branded products and years of industry expertise, we are pleased to work with CannaRoyalty to provide Manitobans a greater variety of choice in our new retail stores," said Mark Goliger, CEO of NAC. "CannaRoyalty's deep retail cannabis, distribution and product experience combined with our history of running safe and responsible medical care clinics contributed to our successful application."
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio. CannaRoyalty's shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's expectations with respect to pursuing new opportunities and future growth for Trichome and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: competition from banks and other lenders; movements and long term trends in interest rates; the ability of management to select companies that will increase in value and to compete for desirable transactions; the ability to source desirable transactions; dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history; changes in laws; limited operating history; reliance on management; requirements for additional financing; and regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE CannaRoyalty Corp.
For further information: For further inquiries, please contact: Marc Lustig, [email protected], 1-844-556-5070, www.cannaroyalty.com; Jonathan Ross, CFA, LodeRock Advisors Inc., [email protected], 416-283-0178