National Access Cannabis Corp. Closes NewLeaf Acquisition
- With the closing of the Acquisition, NAC expects to have 24 retail locations open by October 17, 2018, and 60 retail applications in process. The Company expects to open a total of 50 to 70 locations in aggregate by the end of the year, with plans to open an additional 100 to 150 retail locations during 2019, subject to regulatory approvals
- NAC continues to evaluate locations with our strategic partnership with The Second Cup Ltd. across Western Canada and Ontario to operate retail cannabis stores under the Meta Cannabis Supply Co. brand
OTTAWA, Sept. 11, 2018 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada's best practices leader in delivering secure, safe, and responsible access to legal cannabis today announced it has closed the previously announced acquisition (the "Acquisition") of 100% of the shares of Alberta-based The Green Company Ltd. ("NewLeaf").
"Between our organic retail opportunities, this Acquisition and our Strategic Alliance with The Second Cup Ltd., NAC is positioned to become one of Canada's largest national cannabis retailers," said Mark Goliger, CEO of NAC. "We have set aggressive but achievable goals over the next 18 months and expect to open up to 220 retail cannabis locations over that period. I'd like to thank our management team, Board of Directors and shareholders for their support as we enter the most exciting period in our company's history."
Previous announcements regarding NewLeaf may be found through the following links:
September 10, 2018 – National Access Cannabis Exercises Option to Acquire 100% of Alberta-Based The Green Company Ltd. and Announces Changes to Board of Directors
About National Access Cannabis Corp.
NAC is Canada's best practices leader in delivering secure, safe, and responsible access to legal cannabis. Through its Canada-wide network of care centres, pharmacies, NAC Bio's clinical research division, NewLeaf recreational cannabis retail stores and Meta Cannabis Supply Co.™ recreational cannabis retail stores, NAC enables patients and the public to gain knowledge and access to Canada's network of authorized Licensed Producers of Cannabis.
NAC is listed on the TSX Venture Exchange under the symbol (TSXV: META). For more information, visit www.nationalaccesscannabis.com, www.nacbio.com, www.metacannabis.com and www.newleafcannabis.ca
Cautionary Statements
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 opening dates of NAC retail locations and the number of NAC retail locations expected to open. 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 the ability to obtain or maintain licenses to retail cannabis products; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; and the medical and potential 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.
National Access Cannabis Corp.: Mark Goliger, Chief Executive Officer, 1-800-411-1126, [email protected]; Investor Relations: Emily Gibbs, LodeRock Advisors Inc., 416-546-8775, [email protected]; Media Inquiries: Jessica Patriquin, Maverick PR, O 416-640-5525 x 230, M 416-995-8496, [email protected]
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