National Access Cannabis Corp. Enters Saskatchewan and Continues National Retail Expansion with Acquisition of 24th Retail Location
- Completes acquisition of New Leaf Emporium Inc., adding Moose Jaw, Saskatchewan location, and province-wide e-commerce operations, to NAC's industry leading portfolio of recreational cannabis retail stores.
- With 24 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.
- The Company expects to have 40 stores operating by the end of calendar 2019, and 110 by the end of calendar 2020.
TORONTO, April 18, 2019 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada'slargest private cannabis retailer, today announced it has closed the previously announced acquisition of Saskatchewan-based New Leaf Emporium Inc. ("New Leaf Emporium") and will take full operation of the New Leaf Emporium retail cannabis store and offer online sales throughout Saskatchewan.
Today we're operating in three provinces
said Mark Goliger, CEO of NAC.
No other cannabis retailer has our provincial footprint. We're the national leader in cannabis retail, having opened 24 stores to date in the complex regulatory markets of Alberta, Manitoba, and Saskatchewan, however, the journey is just beginning for our Company and our industry. Our team is focused on building our national retail footprint to 40 stores by the end of calendar 2019, and to 110 stores by the end of calendar 2020. British Columbia is our next target market, followed by Ontario
NAC will take full operation of the New Leaf Emporium retail cannabis store, open since October 22, 2018, in central Moose Jaw at the corner of Main and Athabasca and offer online sales throughout Saskatchewan. The New Leaf Emporium store is one of only two stores serving Moose Jaw's population of 35,000.
The Company currently has 24 cannabis retail locations open in total, distributed provincially as follows:
- 14 in Alberta
- 9 in Manitoba
- 1 in Saskatchewan
In addition to the 24 bricks and mortar stores, NAC is also allowed to sell via its e-commerce platform in the provinces of Manitoba and Saskatchewan, based on provincial regulations.
Previous announcements regarding NAC's retail store expansion may be found through the following links:
NAC is Canada's largest recreational cannabis retailer. With 24 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'snetwork of authorized Licensed Producers of cannabis. NAC is listed on the TSX Venture Exchange under the symbol (TSXV: META).
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, and the Company's provincial growth plans. 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; the ability of the Company to implement its business strategy; 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 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.