TSXV-Listed NAC at Fresh High as Expects to Open Network of Retail Cannabis Stores in Manitoba by Q3 2018
4 hours ago by MT Newswires
09:48 AM EST, 02/16/2018 (MT Newswires) -- National Access Cannabis' (NAC.V) shares surged 18.8% on market open Friday to fresh high of $1.20 apiece after saying that it is one of the four recipients of licenses to operate privately owned retail cannabis stores in the province.
The company said in a statement that the government of Manitoba granted the licenses, conditional upon several factors, including completing necessary agreements and providing the required documentation.
Under the terms of the Retail Organization Agreement with the Manitoba Provincial Government, NAC may build, develop and operate in approved municipalities in the province, but the number of locations is subject to ongoing discussion.
CEO Mark Goliger said: "With our history in successfully operating nationwide medical cannabis clinics, strong First Nations and Licensed Producer relationships, combined with our deep knowledge of safety, security and harm reduction, NAC is perfectly suited to exceed Manitoba's current and future cannabis retail regulatory requirements."
NAC also said it intends to deepen its relationships with CannaRoyalty (CRZ.CN), Cannabis Wheaton Income (CBW.TO), and Tilray, as it builds and develops a network of recreational cannabis stores in Manitoba in advance of the anticipated summer 2018 legalization of recreational marijuana in Canada.
