National Access Cannabis Corp. Responds to the AGLC Lifting the Moratorium on Cannabis Retail Stores in Alberta

• New retail store at 130, 5403 Crowchild Trail NW, Calgary expected to open June 5th, with 10 built out stores throughout Alberta currently awaiting licensing.
• With 25 stores in Alberta, Manitoba and Saskatchewan, NAC has the largest footprint of any private or public cannabis retailer in Canada, according to provincial licensing statistics.
• 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, May 31, 2019 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada's largest private cannabis retailer, today responded to  the Alberta Gaming, Liquor and Cannabis Commission ("AGLC") lifting the moratorium on new cannabis retail store openings in Alberta and has indicated that it will be releasing 5 retail cannabis retail licences per week. NAC expects to open one new retail location in Calgary on June 5^th, with an additional 10 built out stores throughout Alberta currently awaiting licensing.

The new retail location is listed below:

Expected to Open June 5:
NewLeaf Cannabis
130, 5403 Crowchild Trail NW  
Calgary, Alberta
T3A 2G8

"We've been waiting for this positive news from the AGLC," said Mark Goliger, CEO of NAC. "We're ready to open new stores throughout Alberta. We anticipate a new store opening in the Varsity neighbourhood in Calgary on June 5^th, with 18 additional licences submitted and 10 stores built out awaiting licensing and regulatory approval. Today, we have the largest footprint of retail cannabis stores in the province of Alberta, and Canada as a whole, and we're working to maintain this position by continuing to aggressively pursue expansion opportunities in the early stage, and extremely high growth, cannabis industry."

NAC is the national leader in retail cannabis. Currently operating in 3 provinces, NAC has applied for licences in British Columbia and plans to make applications for licences in Ontario once licensing opens up to more private retailers. NAC's experienced team of retail industry professionals is focussed 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:

April 23, 2019, National Access Cannabis Corp. Continues Growth with License for 25th Canadian Retail Location

April 18, 2019, National Access Cannabis Corp. Enters Saskatchewan and Continues National Retail Expansion with Acquisition of 24th Retail Location

April 16, 2019, National Access Cannabis Generates $16.2 million in Revenue in Q2 2019. Retail Cannabis Stores Generate $15.9 million in Revenue and Adjusted EBITDA^[1] of $1.8 million

About National Access Cannabis Corp.
NAC is Canada's largest recreational cannabis retailer. With 25 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).

For more information, visit:
www.nationalaccesscannabis.com
www.metacannabis.com
www.newleafcannabis.ca
www.nacbio.com
www.nacmedical.com

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 for NAC cannabis retail stores, the number of NAC cannabis retail stores expected to open and/or become licensed, the location of such 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 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; 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 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: Mark Goliger, Chief Executive Officer, National Access Cannabis, Tel: [phone], [email protected]; Investor Relations: Emily Gibbs, LodeRock Advisors Inc., Tel: [phone], [email protected]; Media Inquiries: Jessica Patriquin, Tel: [phone] x 230, Cell: 416-995-8496, [email protected]