- With final retail licences granted by the Alberta government, NAC expects to have an initial five retail locations open soon under the NewLeaf Cannabis brand.
- Nationally, the Company expects to open a total of 50 locations in aggregate by the end of the year, with plans to open an additional 100 to 150 retail locations during 2019, subject to regulatory approvals.
OTTAWA, Oct. 25, 2018 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), a best practices leader in delivering secure, safe, and responsible access to legal cannabis in Canada today announced that five Canadian retail locations owned by NAC have been granted licenses, in the province of Alberta.
NAC acquired 100 per cent of The Green Company Ltd. ("NewLeaf Cannabis") in September 2018 to strengthen and enhance its footprint in the province. The acquisition of NewLeaf Cannabis™ by NAC added a second retail brand to its roster in addition to the Company's existing Meta Cannabis Supply Co.™ ("META") brand.
NAC is working diligently in Alberta to open 37 cannabis retail locations, including 25 proposed NewLeaf Cannabis stores and 12 proposed META stores, as soon as possible. A staff of close to 200 employees excitedly await the opportunity to serve the local communities at the five locations listed below:
Southland Location - Calgary, Southland: #111, 13 Southland Crescent SW, T2W 0K4
Midnapore Location - Calgary, Midnapore: #29, 240 Midpark Way SE, T2X 1N4
Deer Valley Location - Calgary, Deer Valley: #18, 13750 Bow Bottom Trail SE, T2J 6T5
Westbrook Location - Calgary, Westbrook: #110, 1935 - 37 Street SW, T3E 3E4
Mayor Magrath Location – Lethbridge, Mayor Magrath: 1328 Mayor Magrath, T1K 2R2
When doors open to the public, NAC will be well-positioned to help Canadians usher in a new era of responsible cannabis consumption. The approachable NewLeaf Cannabis brand and the widespread reach of 25-total proposed locations across Alberta will focus on offering a wide selection of the most in-demand Licensed Producer cannabis and cannabis accessory brands.
"NewLeaf Cannabis' community outreach, real estate strategy and well-known brand name have positioned it to flourish under NAC's stewardship," said Mark Goliger, CEO of NAC. "Together, the NewLeaf Cannabis and META brands will maximize NAC's retail footprint across Alberta, bolster our overall market strength and provide Alberta's recreational customers with exceptional in-store experiences, education and access to quality products."
"We are incredibly proud of our team and what we have achieved to-date," said Angus Taylor, one of the NewLeaf Cannabis original founders, "The timeline was tight for retailers to prepare for something as new and challenging as legalized cannabis. Getting to the place we are now, with multiple stores ready to open their doors to the public very soon, is an amazing feeling."
The NewLeaf Cannabis website will continue to keep the communities it serves updated in real time while the company works with the Alberta Government over the coming weeks to secure and announce the remaining store licenses.
Previous announcements regarding NAC's acquisition of NewLeaf Cannabis may be found through the following links:
September 11, 2018 – National Access Cannabis Corp. Closes NewLeaf Acquisition
About National Access Cannabis Corp.
NAC is a best practices leader in delivering secure, safe, and responsible access to legal cannabis in Canada. Through its Canada-wide network of medical cannabis clinics, partner pharmacies, NAC Bio's clinical research division, NewLeaf Cannabis™ and Meta Cannabis Supply Co.™ recreational cannabis retail stores, NAC enables patients and the public to gain knowledge and access to Canada's network of authorized Licensed Producers of cannabis. NAC is listed on the TSX Venture Exchange under the symbol (TSXV: META).
For more information, visit:
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 dates of NAC retail locations and the number of NAC retail locations expected to open in the future, NAC's plans to secure additional store licenses from the Alberta Government and the selection of products and brands that will be offered at NAC retail locations. 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 the ability to obtain or maintain licenses to retail cannabis products; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; and the medical and potential 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.
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.
SOURCE National Access Cannabis Corp.
For further information: NewLeaf Cannabis Media Inquiries: Chad Hason, NewLeaf Cannabis, 403-464-4541, [email protected], www.newleafcannabis.ca; NewLeaf Cannabis Media Kit: www.newleafcannabis.ca/media/; For more information: National Access Cannabis: Mark Goliger, Chief Executive Officer, National Access Cannabis, 1-800-411-1126, [email protected]; Investor Relations: Emily Gibbs, LodeRock Advisors Inc., 416-546-8775, [email protected]