Cannabis Wheaton Income Corp. (TSX VENTURE: CBW) welcomes Kanata Earth Inc. as the first participant in the recently announced Wheaton Licensing Program and the cornerstone of its First Nations strategy. Kanata Earth, rooted in the Cree word "Kanata Aski", meaning "clean soil/earth", is a First Nations-owned management company providing turnkey solutions for First Nation communities wishing to participate in the regulated cannabis industry. Kanata Earth has already submitted one application to become a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations, with immediate plans to submit applications on behalf of another four First Nations across central and western Canada.
Hugo Alves, President of Cannabis Wheaton stated, "We are proud to welcome Kanata Earth to the Wheaton Licensing Program as its very first entrant and as the cornerstone of our First Nations strategy. The Kanata Earth principals are the epitome of what we would want in a Wheaton Licensing partner -- smart, professional entrepreneurs who are innovative, driven and most importantly passionate about helping their community.
"During my time as the head of the Cannabis Group at Bennett Jones I explored a variety of cannabis-focused initiatives involving First Nations and, in my view, the Kanata Earth model is far and away the most compelling for First Nations wishing to participate in the regulated cannabis industry because it puts the bulk of the economic rewards where they should be -- with the sponsoring First Nation. The Canadian federal government has a mandate to help First Nations participate in emerging economic opportunities and we believe that Kanata Earth provides the best model to accomplish that goal with respect to the new cannabis economy. We are thrilled to be working with Kanata Earth and honored to be able to play a role in helping First Nations meaningfully participate in the cannabis industry."
David Wagstaff, Chief Financial Officer of Kanata commented, "We at Kanata Earth are very excited to be the first participant in the Cannabis Wheaton Licensing program. We believe that Cannabis Wheaton is the perfect partner for Kanata Earth at this stage, and we look forward to leveraging their expertise and support as we roll out our plans for facilitating entry into the cannabis industry for our First Nations community partners."
Mike Lickver, Executive Vice President of Cannabis Wheaton noted, "In assessing entrants to the Wheaton Licensing Program we look at one aspect over all others -- the quality of the management team. Kanata Earth exemplifies the sophisticated management teams that the Wheaton Licensing Program is after. I am confident that Kanata Earth will execute on its goal of helping Indigenous Canadians and creating a framework for their perpetual success in the cannabis economy. It's an exciting day for Wheaton and we couldn't be happier to welcome Kanata Earth into the Wheaton family. We are looking forward to helping them grow while staying close to our own values of growth through diversity."
For more information on the Wheaton Licensing Program and the application requirements please contact licensing@cannabiswheaton.com.
ON BEHALF OF THE BOARD
"Chuck Rifici"
Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE: CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
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