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National Access has $60M in sales since pot made legal

2019-10-15 11:08 ET - News Release

Mr. Mark Goliger reports

NATIONAL ACCESS CANNABIS CORP. GENERATES OVER $60 MILLION IN RETAIL SALES IN THE FIRST YEAR SINCE FEDERAL LEGALIZATION AT A CUMULATIVE GROSS MARGIN OF 32%(I)

National Access Cannabis Corp. has provided investors with a corporate and retail sales update. The company is successfully executing on its growth strategy and has achieved over $60-million in retail sales since legalization, with cumulative gross margin of 32 per cent. The company is targeting to have 40 operating stores by the end of calendar year 2019.

"NAC is already one of the highest revenue generators in the Canadian cannabis space and, by revenue, is the largest publicly traded recreational cannabis retailer in the country. In a highly regulated market like Canada, we view owning retail shelf space and the data gleaned from millions of customer interactions as a pipeline to accessing customers and developing long-term brands and loyalty," said Mark Goliger, chief executive officer of National Access. "With one of the largest and most visible networks of retail storefronts across Canada and a proven track record of repeat customers, NAC is well positioned to continue playing a pivotal role in the growing industry. I am proud of our team for bringing us to over $60-million since federal legalization and for generating positive and growing adjusted EBITDA on a retail basis, all while significantly expanding our store network."

Mr. Goliger added: "As the cannabis industry continues to evolve, and the introduction of new products is on the horizon, NAC has a well-defined growth road map focused on building shareholder value. We are focused on building value for shareholders as our team continues to drive performance from existing stores, introduces enhanced store concepts and executes on a robust pipeline of new store locations. We believe that retail is the most strategic segment of the cannabis value chain, as it is the retailers who are able to interact directly with clients and influence their purchasing decisions, it is the retailers who have access to data associated with millions of customer transactions, and it is the retailers who make the decision as to what products to sell."

The company's current portfolio of 35 licensed locations is split as follows:

  • 25 NewLeaf Cannabis stores in Alberta;
  • Nine Meta Cannabis Supply Co. stores in Manitoba;
  • One Meta Cannabis store in Saskatchewan.

The newest retail locations:

  • Opened Sept: 11, 2019: Leduc Plaza, unit 103, 6207 50 St., Leduc, Alta.;
  • Opened Sept. 11, 2019: North Hill, 1535 19 St. NW, Calgary, Alta.;
  • Opened Oct. 2, 2019: Bridgeland, Unit C 824 Edmonton Trail NE, Calgary, Alta.

About National Access Cannabis Corp.

With a portfolio of 35 licensed retail locations nationwide, National Access is a leader in secure, safe and responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis and NewLeaf recreational cannabis retail stores, and NAC Medical's cannabis clinics and pharmacy partnerships, National Access enables the public and registered patients to gain knowledgeable access to Canada's network of authorized licensed producers of cannabis.

We seek Safe Harbor.

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