National Access Cannabis Corp. Enters Agreement to Acquire 100% of New Leaf Emporium Inc. and Looks to Expand Retail Operations to Saskatchewan
Ryan Allway
January 16th, 2019
News
TORONTO, Jan. 16, 2019 /CNW/ – National Access Cannabis Corp. (“NAC” or the “Company“) (TSXV:META), is pleased to announce that its wholly owned subsidiary, NAC Prairies Ltd. (“NAC Prairies“), has entered into a share purchase agreement in respect of an arm’s length transaction with the shareholders of New Leaf Emporium Inc. (“New Leaf Emporium“), whereby NAC Prairies will acquire all of the issued and outstanding shares of New Leaf Emporium (the “New Leaf Emporium Shares“). Under the terms of the share purchase agreement, the total purchase price payable for the New Leaf Emporium Shares is $1.6 million, comprised of a cash payment of $1.2 million from NAC Prairies and the issuance of 649,880 common shares of NAC, which have an aggregate dollar value of approximately $400,000 (the “Purchase Price“). Additionally, NAC Prairies will reimburse New Leaf Emporium for certain expenses associated with the build out of the Moose Jaw premises on standard commercial terms. The Purchase Price and New Leaf Emporium Shares have been placed into escrow and will be released to the respective parties upon the Saskatchewan Liquor and Gaming Authority providing NAC with approval to operate the New Leaf Emporium premises in Moose Jaw, Saskatchewan, following which NAC Prairies will own all of the issued and outstanding shares of New Leaf Emporium.
“We’re growing our footprint into Saskatchewan,” said Mark Goliger, CEO of NAC. “We’ve worked diligently to be the national leader in cannabis retail, having opened 21 stores to date in the complex regulatory markets of Alberta and Manitoba, and with our experience, Saskatchewan is an ideal expansion market for NAC. We have what’s required: great relationships with Licensed Producers, existing e-commerce infrastructure, and retail operator know-how. Moose Jaw is the right market to start, with the New Leaf Emporium store operational today as one of only 2 stores serving a population of 35,000. We’re ready to lead the way for customers in three provinces through a proven model of safety, education and customer service while delivering sustained returns and increased growth for our shareholders.”
Pending regulatory approval, NAC will immediately take full operation of the New Leaf Emporium retail cannabis store in central Moose Jaw at the corner of Main and Athabasca and offer online sales throughout Saskatchewan.
The Company currently has 21 cannabis retail locations open in total, split as follows:
- 14 NewLeaf Cannabis™ stores in Alberta
- 7 Meta Cannabis Supply Co.™ stores in Manitoba
The Company opened a new Meta Cannabis Supply Co. location in Morden, Manitoba on Friday, January 11th, for a total of 21 stores across Canada, with an additional seven retail stores planned to open throughout Manitoba by the end of Q2 2019.
Previous announcements regarding NAC’s retail store expansion may be found through the following links:
January 10, 2019, National Access Cannabis Corp. Provides Sales Update for Retail Cannabis Operations since Federal Legalization
November 21, 2018, National Access Cannabis becomes Canada’s largest private recreational cannabis retailer by store count, leading the country with 17 stores
May 15, 2018, NAC Launches Meta Cannabis Supply Co., a Premium Retail Cannabis Store Brand, for the Canadian Recreational Market
About National Access Cannabis Corp.
NAC delivers secure, safe, and responsible access to legal cannabis in Canada. Through its Canada-wide network of medical cannabis clinics, partner pharmacies, NAC Bio’s clinical research division, Meta Cannabis Supply Co. and NewLeaf Cannabis 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.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 release of the Purchase Price and New Leaf Shares from escrow, New Leaf receiving a cannabis retail permit granted by the Saskatchewan Liquor and Gaming Authority in respect of its premises in Moose Jaw, Saskatchewan, NAC’s anticipated expansion into Saskatchewan, 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 growth plans in Manitoba. 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.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Rob is the co-founding President of Pelorus Equity Group and has more than 18 years of experience in the real estate finance industry. Since the formation of Pelorus in 2010, he has raised more than $175,000,000 in secured real estate transactions. Rob’s primary role at Pelorus Equity Group is the development of strategic alliances with […]
The producers of O’ Cannabiz have decades of experience producing national-profile events and creating global connections between business communities in the arts, broadcasting, media and technology. They have organized trade summit initiatives with governments around the world. And they have worked closely with sponsors in all levels of Canadian government.
Crop Infrastructure is engaged in the business of investing, constructing, owning and leasing mega-greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations.
True Leaf is a Licensed Producer of cannabis preparing to launch a program to provide seed-to-shelf solutions for micro-cultivators.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
