“Northern Lights Supply is situated in Nisku, Alberta, at the intersection to Canada’s largest oilfield industrial park, along Alberta’s busiest corridor, Highway 2 and opposite the Edmonton International Airport,” explained Mr. Cody Corrubia, President and CEO of Weekend Unlimited.
The parties have entered into a convertible secured 6% interest loan facility on November 15, 2018 for up to $1,200,000, of which the Company will initially advance $500,000. At any time during the term ending December 31, 2022, the Company has the option to convert the full amount of its $1,200,000 loan facility into 49% equity of the retail store. The option may only be exercised once Weekend has received approval from the Alberta Gaming and Liquor Commission after going through required due-diligence.
With 6,500 square feet of retail space, it is one of the largest approved retail cannabis stores in Alberta. The store was designed to take advantage of the upcoming edible and infused cannabis products schedule to be legal in the fall of 2019. Opening is planned for early December 2018.
“We look forward to working with the team at Weekend Unlimited in growing our brand in Alberta. Their experience will be invaluable in recognizing the numerous opportunities in this new and emerging industry.” stated Northern Lights Supply President Mr. Derek Shields.
For further information, please contact:
Mr. Cody Corrubia, President and CEO
Telephone: 1 (236) 317-2812 – Toll free 1(888) 556-YOLO (9656)
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.