Alcanna's NOVA Cannabis opens 5 stores in Alberta

EDMONTON, Oct. 17, 2018 /CNW/ - Alcanna Inc. ("Alcanna" or the "Company") (TSX: CLIQ) is pleased to announce that at 10 a.m. MT on October 17, 2018, it will be adding the NOVA Cannabis brand to its stable of controlled-substance retail banners with the opening of its first five stores in Alberta.

NOVA Cannabis' highly-trained Customer Experience Representatives will begin engaging both new and experienced customers with superior product knowledge and socially responsible advice at 10 a.m. MT.

"Yesterday, and for decades before, criminals operating outside the law controlled 100% of the recreational cannabis trade. Now, civil society begins to take back that activity through laws, regulations, quality controls and private enterprise that creates jobs and pays taxes. Alcanna is delighted to be on the front lines of that effort.

Alcanna opens the first 5 of its anticipated 37 Alberta retail stores today. In setting its retail prices, Alcanna will be cognizant of black-market pricing and will set our prices accordingly within the limits of a legitimate business. But notwithstanding financial considerations, Alcanna's NOVA Cannabis retail stores will always have at least one product priced at our "Black Market Buster" special. A one gram package of cannabis that we will be selling at $6.95, a price we believe to be equivalent to the black-market price. We will rotate which product that is amongst all licensed producers. No one should ever have to stay with the black market strictly because of price. 

Established and experienced retailers like Alcanna, with a robust and healthy balance sheet, can do more than just open the legal market for cannabis with welcoming retail stores and well-trained staff. We can begin the process of hastening the end of crime and criminal activity in the cannabis trade. Alcanna intends to do both."  ­

— James Burns, CEO of Alcanna Inc.

The following NOVA Cannabis stores will be open from 10 a.m. to 10 p.m. starting on October 17, 2018:

NOVA Cannabis at Willow Park
252-10816 Macleod Trail SE, Calgary, AB T2J 5N8

NOVA Cannabis at Whyte Ave
8015 104 Street NW, Edmonton, AB T6E 4E3

NOVA Cannabis at Namao
9611 167 Avenue NW, Edmonton, AB T5Z 3L1

NOVA Cannabis at Southpointe
101-9310 Southfort Drive, Fort Saskatchewan, AB T8L 0C5

NOVA Cannabis at Grove Landing
12-17 Nelson Drive, Spruce Grove, AB T7X 3X3

About Alcanna's NOVA Cannabis

Alcanna's NOVA Cannabis is a reimagined customer retail experience with fully immersive, state-of-the-art stores that offer an inviting and educational brand experience. NOVA intends to develop a robust network of cannabis retail stores that comply with all provincial and municipal requirements, making product, consumer and public safety a top priority.

NOVA Cannabis is operated by Alcanna, Inc., who will leverage its 25-year history of safely selling controlled substances in retail settings to ensure public safety and strict compliance with all relevant government regulations.

Additional information about NOVA Cannabis is available at www.novacannabisstore.ca.

About Alcanna Inc.

Alcanna (formerly Liquor Stores North America) is one of the largest private sector retailers of alcohol in North America and by far the largest in Canada – owning and operating 228 locations in Alberta, British Columbia and Alaska. With revenues in excess of $600 million per year, Alcanna safely and responsibly processes over 20 million individual retail transactions of beverage alcohol annually.

Alcanna's innovative Wine and Beyond brand brought an entirely new concept to alcohol sales in Alberta in a large format experiential retail environment with over 12,000 different products to choose from, many sold only at Alcanna stores, at extremely competitive prices. Our Liquor Depot brand is ubiquitous throughout Alberta and our new Deep Discount Liquor banner has brought the lowest prices in the province to Albertans in an attractive and consumer-friendly environment.

Alcanna's common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols "CLIQ" and "CLIQ.DB", respectively.

Additional information about Alcanna Inc. is available at www.sedar.com and the Company's website at www.alcanna.ca/investors.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "will", "should", "plan" and similar words suggesting future events or future performance. All statements and information other than statements of historical fact contained in this news release are forward-looking statements.

Although the Company believes that the expectations reflected in the forward-looking statements, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations and assumptions will prove to be correct. Readers should not place undue reliance on forward-looking statements included in this news release. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that may cause actual performance and financial results to differ materially from any estimates, forecasts or projections. These risks and uncertainties include, among other things, the factors described in the Company's public filings (including the Annual Information Form) available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are made as of the date hereof. Except as expressly required by applicable securities legislation, Alcanna does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE Alcanna Inc.

James Burns, Chief Executive Officer, Alcanna Inc., [phone]; Dave Crapper, SVP Communications and Investor Relations, Alcanna Inc., [phone]