Company Reiterates Ontario Expansion is Number 1 Priority
TORONTO, Feb. 20, 2020 /CNW/ - National Access Cannabis Corp. (TSXV: META) ("Meta Growth", "META" or the "Company"), Canada's largest publicly traded recreational cannabis retailer by revenue1, is pleased to announce that its shareholders approved all resolutions placed before them by management at the Company's annual and special meeting of shareholders held on February 19, 2020 (the "Meeting").
At the Meeting, a special resolution was passed to change the name of the Company from National Access Cannabis Corp. to Meta Growth Corp. The name change is subject to filing Articles of Amendment and obtaining requisite regulatory approval, including from the TSX Venture Exchange (the "TSXV"). Upon receipt of TSXV approval, trading under the new name will begin.
A special resolution was also passed at the Meeting approving an amendment to the Company's Stock Option Plan (the "Option Plan") and approving the creation of a Restricted Share Unit Award Plan ("RSU Plan"). Full copies of the Option Plan and RSU Plan can be found in the Company's Management Information Circular dated January 6, 2020 under the Company's profile on SEDAR (www.sedar.com).
"Our name change allows us to align our corporate brand with our retail brand, and reflects the Company's evolution from medicinal to recreational cannabis," said Mark Goliger, CEO of Meta Growth. "Brand recognition and consistency are key to our success. We recently opened the first META branded store in Ontario at 378 Yonge Street in downtown Toronto, and on February 28 we plan to open the second META branded store in the province, located in Kitchener. With the proceeds from our recently closed $10 million bought deal financing, we look forward to opening META corporate stores in Ontario where our goal is to obtain a first-mover advantage by reaching the maximum number of stores available per operator as quickly as possible."
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. The Company 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, receipt of approval from the TSXV to the Company's name change, the opening of the Toronto and Kitchener cannabis retail stores and the timing thereof, and the opening of other cannabis retail stores in Ontario, including the timing of submission of related applications. 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 receipt of Retail Store Authorizations for the Toronto and Kitchener cannabis retail stores; the ability of the Company to submit additional store authorization applications and receipt of related Retail Store Authorizations; 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 in Canada by revenue.
SOURCE National Access Cannabis Corp.
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]