National Access Cannabis Completes Alberta Acquisition

- December 3rd, 2018

National Access Cannabis acquired the minority interest of NAC Northern Alberta GP and NAC Northern Alberta Limited from NAC Alberta.

National Access Cannabis (TSXV:META) acquired the minority interest of NAC Northern Alberta GP and NAC Northern Alberta Limited from NAC Alberta.

As quoted in the press release:

National Access Cannabis, a best practices leader in delivering secure, safe, and responsible access to legal cannabis in Canada, today announced that it had acquired all of NAC Alberta Inc.’s minority interest in NAC Northern Alberta GP and NAC Northern Alberta Limited Partnership for the forgiveness of $192,702 of debt and the issuance of 2,173,913 common shares of NAC at a price of $0.69 per NAC common share (the “Acquisition”).

“This Acquisition gives NAC 100 [percent] ownership of all cannabis locations in Northern Alberta, other than Second Cup locations, at an attractive valuation, and streamlines the Company’s Alberta strategy in a highly prospective area of the province,” said Mark Goliger, CEO of NAC. “We plan on having approximately 8 non-Second Cup locations in 2018-2019 in Northern Alberta and see the potential for a sizable footprint in Northern Alberta as we grow to over an estimated 200 retail cannabis locations across the country.”

As part of an anticipated opening of up to 200 retail cannabis locations across Canada, the Company continues to develop its retail strategy in Alberta, targeting opening a total of 37 cannabis retail stores by the end of 2019.

Click here to read the full press release.

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