TORONTO, Feb. 6, 2020 /CNW/ - 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, is pleased to announce that it has closed its
previously announced bought-deal prospectus offering (the
"Offering") for total gross proceeds of $10,000,012.
The Offering was led by Echelon Wealth Partners Inc., as lead
underwriter and sole book runner, and included Desjardins Capital
Markets (collectively, the "Underwriters"). The Offering was
comprised of the issuance of 45,454,600 units of the Company
("Units"), at a price of $0.22 per
Unit. Each Unit consists of one common share of the Company,
and one common share purchase warrant to purchase a common share at
a price of $0.29 for a period of 36
months from the closing of the Offering. The Company intends
to use the net proceeds of the Offering to fund its Ontario retail expansion strategy.
"Earlier this week, we opened our first META branded store in
Ontario at 378 Yonge Street in
downtown Toronto," said
Mark Goliger, CEO of Meta Growth.
"Feedback to date has been resoundingly positive. We continue
to expand in Ontario, with
construction of our second META branded store located in
Kitchener expected to be completed
within the next few weeks. We are eager to put the proceeds
from this financing to work in the Ontario market where our goal is to obtain a
first-mover advantage by reaching the maximum number of stores
available per operator as quickly as possible."
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any securities in the United States. The securities have not
been and will not be registered under the U.S. Securities Act or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About Meta Growth
Meta Growth is a leader in secure, safe and responsible access
to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co.™,
Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational
cannabis retail stores, Meta Growth enables the public to gain
knowledgeable access to Canada's
network of authorized Licensed Producers of cannabis. National
Access Cannabis d/b/a Meta Growth is listed on the TSX Venture
Exchange under the symbol (TSXV: META).
For more information on Meta Growth, visit:
metagrowth.com
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.
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 opening of cannabis retail stores in Ontario, including the timing of submission of
related applications. 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 receipt of Retail Store
Authorizations Ontario cannabis retail stores; the ability of the
Company to submit additional store authorization applications and
receipt of related Retail Store Authorizations; future legislative
and regulatory developments; inability to access sufficient capital
from internal and external sources, and/or inability to access
sufficient capital on favourable terms; general business, economic,
competitive, political, regulatory and social uncertainties; the
delay or failure to receive regulatory approvals and the
recreational 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.
1 New Cannabis Ventures, Public
Cannabis Company Revenue & Income Tracker. Largest Canadian
publicly traded cannabis retailer by revenue.
SOURCE National Access Cannabis Corp d/b/a Meta Growth