NAC expected to open a network of retail cannabis stores in Manitoba by Q3 2018
OTTAWA, Feb. 16, 2018 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSX VENTURE: NAC), Canada's best practices leader in delivering secure, safe and responsible access to legal cannabis, today announced that the government of Manitoba has chosen the Company as one of four recipients of licenses to operate privately owned retail cannabis stores in the Province, conditional upon several factors, including completing necessary agreements and providing the required documentation as outlined in the Province's November 2017 Request for Proposals ("RFP"). Under the terms of the Retail Organization Agreement with the Manitoba Provincial Government, NAC will be permitted to build, develop and operate in approved municipalities in the Province. The number of locations remains subject to ongoing discussion with the Province.
"With our history in successfully operating nationwide medical cannabis clinics, strong First Nations and Licensed Producer relationships, combined with our deep knowledge of safety, security and harm reduction, NAC is perfectly suited to exceed Manitoba's current and future cannabis retail regulatory requirements," said Mark Goliger, Chief Executive Officer of NAC. "With the Province's decision today, Manitobans will have responsible, secure access to recreational marijuana once legalization occurs. We'd like to thank the team at Cannabis Compliance Inc. for their assistance in executing this successful RFP. We're excited about our company's future in recreational marijuana distribution and I look forward to providing you with updates as we develop these new locations."
NAC intends to deepen its relationships with CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF), Cannabis Wheaton Income Corp. (TSX VENTURE: CBW), and Tilray, as it builds and develops a network of recreational cannabis stores in Manitoba in advance of the anticipated summer 2018 legalization of recreational marijuana in Canada.
About National Access Cannabis
National Access Cannabis is Canada's best practices leader in delivering secure, safe, and responsible access to legal cannabis. Through its Canada-wide network of care centres, NAC enables patients and the public to gain knowledge and access to Canada's network of authorized Licensed Producers of Cannabis.
National Access Cannabis Corp. is listed on the TSX Venture Exchange under the symbol (TSXV: NAC).
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the expected timing of NAC opening retail cannabis stores in Manitoba, the completion of the conditions and documentation outlined in the RFP including the execution of necessary agreements, legalization of recreational cannabis in Canada and future cannabis regulatory retail requirements. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those that are currently contemplated by these statements depending on, among other things, the risks and failure to obtain distribution and operating licenses from applicable regulatory authorities. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, its securities, or its financial or operating results (as applicable). The statements in this news release are made as of the date of this release.
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: National Access Cannabis Corp., Mark Goliger, Chief Executive Officer, 1 (800) 411-1126, [email protected]; Media Relations, Matt Ryan, VP, Marketing, (647) 633-9330, [email protected]; Investor Relations, Robert Kelly, LodeRock Advisors Inc., (416) 992-4539, [email protected]