Dec 21, 2017, 07:00 ET
NAC Has Established 4 Exclusive Partnerships to Date with Manitoban First Nations
OTTAWA, Dec. 21, 2017 /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 medical cannabis today announced that the Company has entered into a Limited Partnership Agreement (the "Agreement") with the Nisichawayasihk Cree Nation of Manitoba. Under the terms of the Agreement, the Nisichawayasihk Cree Nation will partner with NAC to establish a retail recreational cannabis store in Thompson, Manitoba, when legally permissible to do so.
Today's announcement is in addition to the previous First Nations partnerships announced on December 15, 2017. Similarly, it is intended that the new Thompson, Manitoba location will be staffed by Nisichawayasihk Cree Nation members and trained using NAC's proprietary model to ensure safe and secure distribution of legal cannabis.
"Situated in the 'Hub of the North', the proposed Thompson location will provide much needed access to legal cannabis to broad group of Northern Manitobans," said Mark Goliger, Chief Executive Officer of National Access Cannabis. "Extending our First Nation's relationships will not only provide better access, it also enables our partners to provide their members with better economic opportunities through the safe and secure operations of the new locations."
"Working with NAC, we can leverage their deep experience in effectively operating a clinical cannabis model to establish a safe, secure and legal retail location," said Chief Marcel Moody, Nisichawayasihk Cree Nation. "Providing our band members with meaningful employment opportunities is a significant priority, we look forward to working closely with the NAC team as the new location is completed and opened for the Summer 2018 legalization."
The Company also announces that it has granted stock options to purchase an aggregate 250,000 common shares of the Company to an officer of NAC. The stock options have an exercise price of $0.51 per common share and expire five years from the date of grant. One-fifth of the options granted will vest immediately, with the remaining options granted vesting over the course of three installments, each installment vesting every three months following the date of grant.
About National Access Cannabis
National Access Cannabis is Canada's best practices leader in delivering secure, safe, and responsible access to legal medical cannabis. NAC enables patients to gain knowledge and the legal medical documentation required to navigate Canada's disparate network of authorized Licensed Producers of Cannabis. Through its Canada-wide network of care centres, NAC has partnered with health professionals to improve the quality of life of its local members and provide services designed to inform, educate and supply expert advice.
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 entering into of the limited partnership agreements and future developments including the establishment of a recreational cannabis distribution network in Manitoba, the structure thereof and the anticipated benefits to Manitoban stakeholders. 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]; Investor Relations, Robert Kelly, LodeRock Advisors Inc., (416) 992-4539, [email protected]
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