Cannabis
National Access Cannabis Corp. Provides Sales Update for Retail Cannabis Operations Since Federal Legalization
National Access Cannabis Corp. (“NAC” or “the Company”) (TSXV: META), Canada’slargest cannabis retailer1, today provided investors with a corporate and retail sales update. The Company is successfully executing on its growth strategy and has achieved over $50 million in retail sales since legalization, with cumulative gross margin in excess of 31%. The Company is targeting to have 40 operating stores by the end of calendar 2019.
“NAC is rapidly growing its store count and revenue,” said Mark Goliger, CEO of NAC. “We have been granted 10 licenses in Alberta since the ending of the moratorium on May 31st, and we expect positive movement with our licence applications in British Columbia. We now have 30 stores open, with another 5 stores licensed and in development. We expect continued revenue momentum as we roll out improved and streamlined store designs to enhance customer experience. With the recent filing of our final base shelf prospectus to provide us with flexible access to capital, we are confident in our ability to execute on our strategic growth initiatives to continue our leadership position in Canadian cannabis retail.”
The Company’s current portfolio of 35 licensed locations is split as follows:
- 25 NewLeaf Cannabis stores in Alberta
- 9 Meta Cannabis Supply Co. stores in Manitoba
- 1 Meta Cannabis Supply Co. store in Saskatchewan
The newest retail location opened August 20, 2019:
NewLeaf Cannabis – Falconridge
55 Castleridge Blvd NE, Calgary
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
SOURCE National Access Cannabis Corp.
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