- With a new licence to open a retail store at 543 3 Street South East, Medicine Hat, NAC has assembled a portfolio of 25 stores in Alberta, with 35 licensed stores in total.
- Two new retail stores in Alberta are scheduled to open in August, with 5 additional stores scheduled to open across Alberta in September and October 2019.
- NAC continues to execute on its business plan to have 40 stores operating by the end of calendar 2019, and 110 by the end of calendar 2020.
TORONTO, Aug. 8, 2019 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada's largest cannabis retailer1, today announced it has received an additional licence from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC") to open a cannabis retail store in Medicine Hat, Alberta. The announcement comes following the previously released news that the AGLC has lifted the moratorium on new cannabis retail licences. The Company also announces the planned opening of two new retail locations in August, with an additional 5 stores anticipated to open to the public in September and October.
The newly licenced retail location is listed below:
NewLeaf Cannabis – Medicine Hat
543 3 Street SE, Medicine Hat, Alberta
Dates for the anticipated retail location openings in August are listed below:
Scheduled opening August 14, 2019:
101 – 400 Main Street N, Airdrie
Scheduled opening August 21, 2019:
55 Castleridge Blvd NE, Calgary
"National Access Cannabis now has 10 new licences granted in Alberta since the lifting of the moratorium by the AGLC, and we've been working hard to get these stores open to the public," said Mark Goliger, CEO of NAC. "With our plan to open 7 of our recently licenced locations across Alberta in the next three months, we look forward to the sales and revenues from this increased footprint. With our operating expertise and proven track record of retail expansion, we see a clear path to growing our store count, and we plan to continue successfully expanding our retail stores across multiple jurisdictions."
NAC is the national leader in retail cannabis1. Currently operating in three provinces, NAC has applied for licences in British Columbia and plans to make applications for licences in Ontario. NAC's experienced team of retail industry professionals is focused on achieving its business plan of having 40 operating stores by the end of calendar 2019, and 110 operating stores by the end of calendar 2020.
Previous announcements regarding NAC's retail store expansion may be found through the following links:
About National Access Cannabis Corp.
NAC is Canada's largest recreational cannabis retailer1. With a portfolio of 35 licensed retail locations nationwide, NAC is the leader in secure, safe and responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational cannabis retail stores and NAC Medical's cannabis clinics and pharmacy partnerships, NAC enables the public and registered patients to gain knowledgeable access to Canada's network of authorized Licensed Producers of cannabis. NAC is listed on the TSX Venture Exchange under the symbol (TSXV: META).
1Canaccord Genuity, Canadian Cannabis Report, July 17, 2019
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 number of NAC cannabis retail stores expected to open and/or become licensed, the opening dates for NAC cannabis retail stores, the location of NAC's cannabis retail stores and plans to make applications for licences in Ontario once licensing opens up to more private retailers. 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, including the number of NAC cannabis retail stores expected to open, may differ materially from those that are currently contemplated by these statements depending on, among other things, risks relating to the AGLC reinstating its moratorium, the ability to obtain or maintain licences to retail cannabis products; future legislative and regulatory developments involving cannabis including Ontario opening up licensing to more private retailers; 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 and social uncertainties; timing and completion of construction of the Company's retail locations; the delay or failure to receive regulatory approvals; the competitive conditions of the cannabis industry; the competitive and business strategies of the Company; the labour market generally and the ability to access, hire and retain employees; and the recreational and medical 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: National Access Cannabis: Mark Goliger, Chief Executive Officer, National Access Cannabis, Tel: 647-689-6382, [email protected]; Investor Relations: Emily Gibbs, LodeRock Advisors Inc., Tel: 416-546-8775, [email protected]; Media Inquiries: Jessica Patriquin, Tel: 416-640-5525 x 230, Cell: 416-995-8496, [email protected]