- With three new licences to open retail stores at 110 – 3725 Rundlehorn Drive NE, Calgary; Unit 101 8721 – 156 Street NW, Edmonton; and Unit 7 - 8, 620 - 1st Avenue NW, Airdrie, the Company has assembled a portfolio of 18 stores in Alberta, and 28 stores in total.
- With 25 stores open 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, June 18, 2019 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada's largest cannabis retailer according to provincial licensing statistics, today announced it has received three additional licences from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC") to open cannabis retail stores in Alberta. The retail stores will be located in the cities of Calgary, Edmonton and Airdrie. The announcement comes following the previously released news that the AGLC has lifted the moratorium on new cannabis retail licences.
The new retail locations are listed below:
NewLeaf Cannabis - Rundlehorn
110 – 3725 Rundlehorn Drive NE, Calgary
NewLeaf Cannabis - Jasper Park
Unit 101 8721 – 156 Street NW, Edmonton, Alberta
NewLeaf Cannabis - Airdrie
Unit 7 - 8, 620 - 1st Ave NW, Airdrie, Alberta
"We're growing rapidly in Alberta," said Mark Goliger, CEO of NAC. "With three new licences and the new location recently opened June 5th in the Varsity neighbourhood in Calgary, we continue to expand our private cannabis retailing footprint in Alberta and our growth isn't done. We have 15 additional licences submitted and 7 more stores built awaiting licensing and regulatory approval in Alberta."
NAC is the national leader in retail cannabis. Currently operating in three 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 focused 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:
May 31, 2019, National Access Cannabis Corp. Responds to the AGLC Lifting the Moratorium on Cannabis Retail Stores in Alberta
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 by provincial store count. With a portfolio of 28 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; general business, economic, competitive, political and social uncertainties; timing and completion of construction of the Company's retail locations; the delay or failure to receive regulatory approvals; 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 recreational and medical 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.
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