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).
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.
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
For further information: Meta Growth: Mark Goliger, Chief Executive Officer, Meta Growth, Tel: 647-689-6382, [email protected]; Media Inquiries: Jessica Patriquin, Tel: 416-640-5525 x 230, Cell: 416-995-8496, [email protected]