National Access Cannabis Corp. (TSXV: META) d/b/a Meta Growth (“Meta Growth“, “META” or the “Company“), Canada’s largest publicly traded recreational cannabis retailer by revenue¹, today announced that it has entered into a loan agreement with Opaskwayak Cree Nation (“OCN“) in respect of an unsecured loan, pursuant to which OCN will lend up to $11,000,000 to META (the “Loan“). The Company plans to use the proceeds from the Loan to fund the build-out of its Ontario portfolio of cannabis retail locations as well as for working capital purposes.

The Loan has been provided by OCN, one of META’s largest shareholders.  The Loan allows META to draw-down funds as required. “We are very grateful to have such a supportive investor as OCN”, said Mark Goliger, CEO of META Growth. “OCN’s follow-on investment in META is on the back of Ontario’s recent announcement to open the market for retail cannabis stores in January 2020.  META has already assembled a portfolio of class A retail sites in Ontario.  With OCN’s funding, construction can begin so the stores can be completed and ready for March 2020 when the AGCO has indicated that it will begin licensing retail stores.”

“OCN has a diversified investment portfolio”, said Christian Sinclair, Onekanew (Chief) of OCN, a Manitoba based First Nation.  “The fastest growing industry today is cannabis.  We are very excited to be a significant investor in META and are committed to assisting the Company as it continues to carry out its strategy to expand its market share.  Our partnership with META, called “growing together”, benefits both our organizations.  The long term returns from our investment portfolio will be pumped back into our community’s infrastructure, education, and medical services.  We look forward to a long and prosperous relationship with META.”

The Loan has a 5 year term and any funds drawn down carry an interest rate of 10% per annum and incur an annual administration fee of 2.5% on the weighted average balance of the Loan advanced to the applicable date, paid annually to OCN each December 31.