• 15 locations operational across B.C, Ontario and Saskatchewan.
• $42.7M annual forecasted revenue for next fiscal year.
• Company has plans to increase the operational footprint to 18 stores after opening its seventh B.C location in Kelowna and the potential development locations in Ontario.

VANCOUVER, BC, Nov. 12, 2021 /CNW/ – Kiaro Holdings Corp. (TSXV: KO) (“Kiaro” or the “Company“) a Canadian cannabis retailer and distributor, is pleased to announce the opening of its latest retail location in Orleans, Ontario (Unit D002, 3838 Innes Road, Orleans, Ontario, K1W 0C8). The brand currently has 15 locations operational across B.C, Ontario and Saskatchewan.

“We continue to see the Kiaro brand grow across Canada, providing a best-in-class retail cannabis experience to each and every customer we serve. The continued increase in our retail footprint to a potential of 18 stores in early 2022 will drive us towards $42.7M in target revenue for the next fiscal year” stated Daniel Petrov, Chief Executive Officer of Kiaro.

After opening of Kiaro’s seventh B.C location in Kelowna later this year and the potential development locations in Ontario, the company plans to grow the operational footprint to 18 stores.

Kiaro Holdings Corp.

Based in Vancouver, British Columbia, Kiaro is an independent, omni-channel cannabis retailer and distributor. Through existing storefronts across British Columbia, Saskatchewan, and Ontario, and with the completion of the recent acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro has 15 stores with another three expected in early 2022. This is in addition to its wholesale distribution division servicing Saskatchewan, and ecommerce sites in Canada, the US and Australia. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 70 years of collective retail and wholesale focused experience, Kiaro’s leadership team has a proven track record of executing on acquisitions and financings, and moreover growing brands across North America. The Company plans to continue its growth trajectory through its consumer-centric retail, ecommerce, and wholesale distribution segments over the coming years.

Forward-Looking Information

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Kiaro, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the use of proceeds of the Offering, overall growth of the Canadian cannabis market and retail opportunities, the award of new operating permits and licenses in various jurisdictions, the future trading price of the Common Shares, and the timing and amount of any dispositions of the Common Shares. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Kiaro’s control. These risks, uncertainties and assumptions include, but are not limited to, those described in filing statement of the Company dated September 29, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Furthermore, any forward looking information with respect to future expansion plans is subject to the qualification that management of Kiaro may decide, and the assumptions that any construction or conversion would not be cost prohibitive, required permits will be obtained and the labour, materials and equipment necessary to complete such construction or conversion will be available. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Kiaro does not intend, nor undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit investors.kiaro.com
For our most recent analyst report, click here

SOURCE Kiaro Holdings Corp.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

ROCK CREEK, BC, Sept. 2, 2021 /CNW/ – SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy“) a holder of a federal licence to cultivate, process, and sell cannabis under the Cannabis Act is pleased to announce that it has received an amendment to its sales licence that allows the sale of concentrates, edibles and topicals directly to the medical and recreational markets in Canada.

About the Sales Amendment

Health Canada has amended SpeakEasy’s current licence to include authorization for the Company to sell additional classes of cannabis including extracts, concentrates, topicals and edibles. The amendment also allows the Company to sell extracts, concentrates edibles and topicals into the recreational market and also directly to medical patients. This amendment allows the Company to ship products across the country into one of the fastest growing product categories in the Canadian cannabis market.⁽²⁾

Founder, Marc Geen states, “This is a major milestone for SpeakEasy, becoming as vertically integrated as possible, in order to be efficient and cost effective has been a goal from the beginning and achieving this licence, was an extremely important piece of that strategy. With our huge low-cost outdoor grow facility, our on-site lab, on-site packaging fulfilment and finally sales and distribution direct to the consumer and recreational market, we now have everything we need to bring our high quality and low-cost products directly to market. With this final piece, our brands can come to life, the journey of fulfilling our vision of becoming a recognized brand in the industry, can begin.“

Consumer Facing Brands

As SpeakEasy continues to build on its agricultural success, the focus has never shifted from the opportunity in establishing consumer brand loyalty. The agricultural foundation that the Company has achieved is a critical steppingstone into this next phase. The stage is set, as SpeakEasy continues to build on its core principles – product quality, respecting the culture and achieving a competitive price point. The Company believes that the Canadian cannabis market is years from maturity and full of opportunity and is excited about this next phase of their business.

Additional Revenue Stream

The amendment to SpeakEasy’s licence allows the Company the opportunity to pursue additional revenue streams in addition to the established business-to-business sales, with potential for increased margins and more consistent cash flows. The business will continually seek innovative ways to establish new revenue streams in the evolving market while building strong relationships.

Extracts Processing Infrastructure

SpeakEasy continues to process its 2020 outdoor harvest into a variety of extract products. The Company anticipates processing the remainder of the yield before the end of the calendar year.

The onsite extraction facility is fully operational and has the ability to produce up to 250 KG of concentrates per month, or 3,000,000 grams per year and is capable of covering the entire spectrum of the extraction market. The Company anticipates processing it’s estimated 144,000 KG 2021 outdoor harvest within a 12 month period.

SpeakEasy has been dedicated to building a solid portfolio of extraction assets to compete with the rapidly growing extracts market. The Company is excited to increase its line of value-added products while continuing to increase margins. SpeakEasy extracts brands will focus on delivering high-quality extracts to the consumer market.

This sales licence amendment brings SpeakEasy one step closer to becoming one of Canada‘s leading cannabis companies.

About Canada‘s Cannabis Market

The Canadian cannabis market grew 118% in 2020 to $2.6B and is expected to grow another 60% by the end of 2021.⁽¹⁾⁽³⁾

Sales of cannabis extracts and concentrates tripled between the first and final quarter of last year, ending 2020 with approximately $324 million in retail sales, according to Statistics Canada data⁽²⁾. In the January-March period, the extracts products made up 7.4% of sales. By the end of the fourth quarter, they increased to 14.9%.⁽²⁾

Founder Marc Geen, further states: “This industry keeps getting more exciting as it grows and matures. Informed, educated consumers, higher-quality and the demand for fair pricing are the driving forces within the Canadian cannabis market and I feel we can accommodate all of those demands. Right now is a great time to be in this industry, it’s the golden era of cannabis and we feel that SpeakEasy has positioned itself correctly to be able to leverage all of our strengths. As always, thank you to our incredible staff, shareholders and everyone in the SpeakEasy family, without you none of this would be possible.”

About SpeakEasy Cannabis Club Ltd.

SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages five generations of farming experience in B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft cannabis at scale in a portion of its 63,200 square foot indoor cannabis complex and has completed its harvest of its 60-acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 144,000 kilograms in 2021.

On behalf of the Board of the Directors

Forward Looking Statement

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning SpeakEasy’s expectation that the receipt of the amendment to its license will allow it to pursue additional revenue streams, expectations concerning potential for increased margins and more consistent cash flows; its expectations that it will process the balance of its 2020 harvest before the end of the calendar year, projections that its total yearly production of cannabis flower and biomass will be in excess of approximately 144,000 kilograms in 2021 and the expected timing to process scuh production, its expecations concerning the projected growth of Canada’s cannabis industry, including sales of cannabis extracts and concentrates, and its intent to produce and sell high quality craft cannabis, and all other statements that are not statements of historical fact.

Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in Canada and generally; the demand for CBD distillate, cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain and retain all applicable licences under the Cannabis Act and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

The Canadian Securities Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, BC, July 20, 2021 /CNW/ – Vext Science, Inc. (“Vext” or the “Company”) (CSE: VEXT) (OTCQX: VEXTF) a cannabinoid operator and brand leader based in Arizona, leveraging its core expertise in extraction, manufacturing, cultivation and marketing to build a profitable multi-state footprint, today provided an update on its progress toward establishing a retail presence in the State of Ohio.

As announced on March 15, 2021, Vext has signed a letter of intent (the “LOI”) to form a joint venture to access a provisional cannabis dispensary license (the “Provisional License”) held by an Ohio entity (the “License Co.”). The License Co. has now received a Certificate of Operation by the Ohio Board of Pharmacy (the “Board”) and is fully operational. Once the License Co. has been operational for 12 months, Vext and its joint venture partner may apply to the Board for a change in ownership of the Provisional License.

Ohio’s state-sanctioned cannabis sales are expected to be between US$350 million to US$425 million in 2021, under a highly regulated, medical-only framework, compared to US$221.5 million in 2020¹.

Eric Offenberger, CEO of Vext commented, “As we continue to build out our profitable Arizona footprint, we are looking to Ohio as another leg of growth for Vext. The Vapen brand is already being sold in dispensaries across the State. In 12 months, alongside our joint venture partner, we will be positioned to gain access to a coveted retail license in a premier location. The Ohio medical market is demonstrating solid growth, exceeding initial industry projections. It also displays the characteristics we look at from a return on capital perspective, including a limited license structure very similar to what we are familiar with in Arizona, and the potential to transition to adult-use at some point in the future. Between the expansion of our cultivation footprint in Arizona, which we expect will support continued growth in the state, and our pending build-out in Ohio, the next 12 months will be a very exciting period for Vext.”

For further information regarding the LOI, see the press release filed on Vext’s SEDAR profile on March 15, 2021.

About VEXT Science, Inc.

Vext Science, Inc. is a US-based Cannabis THC and Hemp cannabinoid products company manufacturing THC cartridges, concentrates, edibles and accessories under the Vapen Brand, and Hemp based products under the Pure Touch Botanicals brand as well as the Vapen CBD brand. Based in Arizona, Vext Science, Inc. has one of the leading THC concentrates, edibles, and distillate cartridge brands sold in most of the state’s 100+ dispensaries. Herbal Wellness Center is one of Arizona’s leading dispensaries and we execute all aspects of the cultivation, extraction, edibles infusion and manufacturing processes which insures a product of the highest quality and purity. Product quality and purity are core to our marketing strategy. Vext Science, Inc. is executing its business growth by leveraging experience and expertise in extractions, product manufacturing, and marketing to expand in the U.S. through revenue and profit-sharing joint venture partnerships. For more information visit our website at www.VextScience.com.

For more details on the Vapen brand:
Vapen website: VapenBrands.com 
Instagram: @vapen 
Facebook: @vapenclear

COVID-19 Risk Factor

VEXT may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to COVID-19. An outbreak of infectious disease, a pandemic, or a similar public health threat, such as the recent outbreak of COVID-19, or a fear of any of the foregoing, could adversely impact VEXT by causing operating, manufacturing, supply chain, and project development delays and disruptions, labor shortages, travel, and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how VEXT may be affected if such a pandemic persists for an extended period of time, including as a result of the waiver of regulatory requirements or the implementation of emergency regulations to which VEXT is subject. Although VEXT has been deemed essential and/or has been permitted to continue operating its facilities in the states in which it operates during the pendency of the COVID-19 pandemic, there is no assurance that the Company’s operations will continue to be deemed essential and/or will continue to be permitted to operate. VEXT may incur expenses or delays relating to such events outside of its control, which could have a material adverse impact on its business, operating results, financial condition and the trading price of the Company’s Common Shares.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in VEXT’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should, on track” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements related COVID-19, to future developments and the business and operations of VEXT, the anticipated size of the cannabis market in Ohio, the formation of the joint venture pursuant to the LOI and the transfer of the Provisional License, which are subject to the risk factors contained in Vext’s continuous disclosure filed on SEDAR.

Although VEXT has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; being engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindered market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward- looking statements in this news release are made as of the date of this release. VEXT disclaims any intention or obligation to update or revise such information, except as required by applicable law, and VEXT does not assume any liability for disclosure relating to any other company mentioned herein.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Eric Offenberger
Chief Executive Officer
844-211-3725

SOURCE VEXT Science, Inc.

For further information: Jonathan Ross, VEXT Investor Relations, [email protected], 416-283-0178

Related Links

https://vextscience.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Country’s largest single-brand network of retail cannabis stores marked event in Nation’s Capital
where Canadian government legalized recreational cannabis just 33 months ago  

CALGARY, AB, July 9, 2021 /CNW/ – Inner Spirit Holdings Ltd. (“Inner Spirit” or the “Company“) (CSE: ISH) (OTCQB: INSHF), a Canadian company that has established a national network of Spiritleaf retail cannabis stores, today announced the celebration for the opening of its 100^th Spiritleaf store. With its first location opened in October 2018 after recreational cannabis was legalized in Canada, Spiritleaf has developed into a retail powerhouse with more cannabis retail outlets opened than any other company in the country.

100^th Store Opening

The Company celebrated the 100^th store opening milestone with a ribbon-cutting ceremony at the Spiritleaf South Keys store located in the south end of Ottawa, Ontario. Company President and CEO Darren Bondar, Spiritleaf Vice President Cecil Horwitz and Spiritleaf South Keys Owner Richard Dufour were in attendance, along with Spiritleaf employees and representatives from the local community. Due to the COVID-19 pandemic, the event was scaled to respect all local gathering restrictions.

“We celebrated the 100^th Spiritleaf store with everyone who helped us get there. It’s an amazing achievement for our trailblazing community. In just 33 months since legalization, we’ve opened more than 100 corporate and franchise stores from coast to coast across the country, which is one new store about every 10 days. That growth trajectory has been tremendous, and we have such respect and gratitude for our franchise partners and all the Spritleaf staff for making this happen. It’s a testament to our collective passion, dedication and energy that we have reached this milestone,” said Bondar.

As part of the national celebration, Spiritleaf is thanking its guests this weekend at each store by providing commemorative #100 pins to the first 100 guests.

“When Spiritleaf opens a store, it creates new jobs and business prospects in the local community. The benefits range from store management and staff positions to more work for suppliers, contractors and construction crews. While we’re pleased our stores bring such local business benefits, we’re just as focused on being a good corporate citizen and supporting important causes. One of the actions I’m most proud of has been our partnership with the Gord Downie & Chanie Wenjack Fund to seek out possible paths to reconciliation for the country. Our recent support for the 215 Pledge is an example of our ongoing commitment to these vital communities and to the Downie-Wenjack Fund. Our brand has been built around being as authentic to the cannabis plant as we can be and to inspire peace, love and harmony in all our communities,” noted Bondar.

National Expansion

The Company continued to expand its network with the opening of nine additional Spiritleaf stores across three provinces in June and early July. This has included the Company’s first stores in Manitoba. Please visit www.spiritleaf.ca for information on store locations and their operating hours. The new stores include the following:

• Spiritleaf Beaches, Toronto, Ontario
• Spiritleaf Bonnyville, Bonnyville, Alberta
• Spiritleaf Eastwinds, Winnipeg, Manitoba
• Spiritleaf Imperial Centre, Brampton, Ontario
• Spiritleaf Orleans, Ottawa
• Spiritleaf South Keys, Ottawa
• Spiritleaf St. Vital, Winnipeg
• Spiritleaf Unicity, Winnipeg
• Spiritleaf Varsity, Calgary

Company Updates

The Company announced that Spiritleaf along with its founder Darren Bondar has been selected as one of the finalists for the EY Entrepreneur of the Year® 2021 Prairies award. The EY program celebrates entrepreneurs whose ambitions deliver innovation, growth and prosperity that transform our world. Regional winners will be announced later this month and will go on to compete in a Canada-wide competition that concludes in November.

Additionally, Spiritleaf has been recognized as a finalist in two categories by the Retail Council of Canada’s 2021 Excellence in Retailing Awards competition. The awards celebrate the best retail innovations found across the country with winners announced in September. Spiritleaf has been recognized for its in-store experience and design and for its retail marketing prowess.

Spiritleaf stores have been operating with enhanced customer service processes to ensure the safety of employees and customers due to the COVID-19 pandemic. Spiritleaf’s Select & Collect service enables customers to pre-shop and order online prior to pick-up in store or curbside or via delivery where permitted. The fast-growing and popular Spiritleaf Collective customer benefits program, which recently surpassed 310,000 members, streamlines and individualizes the shopping experience for guests.

To acknowledge the support from these members, the Company is currently running its virtual Spirit Bus Tour across the country for a second consecutive summer. The tour has been making “stops” at Spiritleaf stores where Spiritleaf Collective members can access exclusive promotions and special edition festival swag. Bus postcards containing the access code to the tour are available in-store or by email or text for Spiritleaf Collective members and no purchase is required. Please visit www.spiritbustour.ca for tour dates and details.

About Inner Spirit

Inner Spirit Holdings Ltd. (CSE:ISH) (OTCQB:INSHF) is a retailer and franchisor of Spiritleaf recreational cannabis stores across Canada. The Spiritleaf network includes 101 franchised and corporate-owned locations, all operated with an entrepreneurial spirit and with the goal of creating deep and lasting ties within local communities. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products. The Company is led by passionate advocates for cannabis who have years of retail, franchise and consumer marketing experience. Spiritleaf has been recognized with a Franchisees’ Choice Designation from the Canadian Franchise Association for its award-winning support centre for two consecutive years, a MarCom Platinum Award for marketing excellence, and a Hermes Gold Award for its creative customer benefits program. Learn more at www.innerspiritholdings.com and www.spiritleaf.ca.

SOURCE Inner Spirit Holdings Ltd.

For further information: Darren Bondar, President and CEO, Email: [email protected], Phone: 1 (403) 930-9300, www.innerspiritholdings.com

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Merger includes retail, distribution and cultivation capabilities in the limited license market where adult-use sales are expected to reach up to US$230 million in 2023[1]

Toronto, Ontario–(Newsfile Corp. – June 28, 2021) – SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) (“SLANG” or the “Company“), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced that it has entered into an agreement and plan of merger (the “Merger Agreement”) to acquire High Fidelity, Inc. (“HI-FI”), Vermont’s largest medical cannabis company (the “Merger”).

Key Transaction Benefits:

• Delivers an accretive transaction on prospective Adjusted EBITDA basis
• Broadens SLANG’s core market footprint to include Vermont, adding to its existing core markets of Colorado and Oregon
• Adds two of the five medical cannabis licenses in Vermont with four fully operational dispensaries, including in the Burlington area, with ability to add two new retail dispensaries upon receipt of licenses
• Expands SLANG’s operational footprint with the addition of Vermont’s leading vertically integrated cannabis company, which includes a 28,000-square-foot cultivation, production, lab, and distribution facility, with a planned 50,000-square-foot expansion expected to be completed in 2022
• Strengthens SLANG’s experienced leadership further with engaged and aligned local management teams including a proven and profitable operator with an eight-year history

Key Vermont Market Benefits:

• Creates new jobs with competitive wages and benefit packages
• Brings fresh capital investment into the state, helping to build infrastructure to meet market demand
• Provides immediate opportunity for Vermont-branded product distribution to a larger US market through SLANG’s established 2200-outlet retail pipeline
• Adds expertise to support best manufacturing practices, innovation and regulatory compliance
• Creates strong partnership in supporting the social justice initiatives in Vermont’s cannabis laws

HI-FI is one of Vermont’s premier vertically integrated cannabis companies, founded in 2012 in Burlington, the state’s largest urban and cultural center. The Company owns two of the five medical cannabis licenses in Vermont, Champlain Valley Dispensary (“CVD”) and Southern Vermont Wellness (“SVW”), and services approximately 70 percent of registered patients^[2]. In June 2021, both CVD and SVW commenced operating under a new brand name, CeresMED. In the upcoming licensing process for adult use, current medical license holders will have early access to the market alongside Vermont’s craft growers, giving them a significant opportunity to build consumer loyalty. In addition to the four dispensaries, HI-FI operates statewide home delivery services and wholesale distribution of its own branded products as well as SLANG branded products. HI-FI has a long-standing mutually beneficial relationship with SLANG as a licensed manufacturer and distributor of leading vape brand, O.pen, in Vermont since 2015. Additionally, the Merger is expected to lead to the introduction of more of SLANG’s award-winning, market-leading brands (District Edibles, Firefly, Bakked and Lunchbox Alchemy) to the Vermont market.

Retail sales in Vermont for adult-use cannabis products are expected to begin in the fall of 2022, with sales expected to reach up to US$230 million in 2023.

“We recognized the value in High Fidelity as a local success story and pioneer in the Vermont cannabis community, focused on providing access to patients and consumers”, said Chris Driessen, Chief Executive Officer of SLANG. “The High Fidelity team is proud of their accomplishments to date and are committed to the ‘Vermont Way’ of doing things, which means a focus on quality, collaboration and the best consumer and employee experience. We understand these core values and are equally committed to nurturing their value-driven culture. This partnership will not only serve the cannabis community, it will bring quality jobs and revenue to the local and state economy.”

Shayne Lynn, President of HI-FI said, “Since our inception, we have led the Vermont cannabis industry with a ‘people first’ philosophy and a focus on expanding patient access and consumer education. With this transaction, we will be able to share experience and resources to help build new regional brands and create a new business model in the industry. As part of SLANG, we can continue to expand our offerings, create more jobs in our communities and remain true to our Vermont heritage, which the SLANG team values tremendously.”

In addition to four medical cannabis licenses, HI-FI also owns Ceres Natural Remedies, Vermont’s original CBD store. Since 2016, Ceres has grown to include three retail stores and a portfolio of Ceres branded products with distribution in over 1,200 retail locations, which will expand the SLANG network to over 3,400 total points of retail distribution. In addition to its own branded products, Ceres has a strong track record of scaling up regional and national brands through its sales channels. In 2019, Ceres purchased trētap, a Vermont-based sparkling beverage company and the first of its kind to utilize organic tree water from maple sugarbushes. In 2019, Ceres launched trētap CBD, with four new sparkling beverages infused with CBD.

Additionally, HI-FI is awaiting approval of a social equity application for a retail medical cannabis license in New Jersey. This application was submitted in collaboration with partners native to Trenton, N.J. with a mission to support communities disproportionately affected by the War on Drugs.

Driessen concluded, “Having already worked with the HI-FI team for a number of years, we are excited to expand our relationship with the team and participate in the Vermont market in a more significant way.”

Lynn will join SLANG’s leadership team and is expected to join the Company’s board of directors upon closing of the Merger.

Transaction details:

At the closing of the Merger, SLANG will pay US$12,000,000 of the Purchase Price by issuing an aggregate of 31,578,947 restricted voting shares in the capital of SLANG (the “SLANG Shares”) (based on an implied price per share of US$0.38), and paying US$3,000,000 in cash. At the 18-month anniversary of the closing of the Merger, SLANG will pay US$250,000 of the Purchase Price by issuing 657,894 SLANG Shares (based on an implied price per share of US$0.38), and paying US$2,000,000 in cash. Pursuant to the Merger Agreement, SLANG may issue additional SLANG Shares upon the achievement of certain performance milestones. Completion of the Merger remains subject to the satisfaction or waiver of all conditions precedent in the Merger Agreement, including the receipt of the approval of the State of Vermont’s Department of Public Safety and any other government authority whose approval is required. Closing of the Merger is expected to occur in Q3 2021.

To be added to SLANG’s email distribution list, please email [email protected] to be added to SLANG’s email distribution list, please email [email protected] with “SLNG” in the subject.

About SLANG Worldwide Inc.

SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements included in this news release include, but are not limited to, statements in respect of the completion of the Merger on the terms described herein or at all and the manufacture and distribution of new SLANG-branded products in Vermont.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings “Risk Factors” in SLANG’s annual information form dated April 29, 2021 and other disclosure documents available on the Company’s profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Media and Investor inquiries
[email protected]

KCSA Strategic Communications
Phil Carlson / Elizabeth Barker
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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

EDMONTON, AB, June 2, 2021 /CNW/ – Nova Cannabis Inc. (the “Company” or “Nova“) (TSXV: NOVC), today announced several business developments intended to accelerate the Company’s growth, including:

• Entering into two conditional asset purchase agreements to acquire a total of six retail cannabis locations in Ontario, which will be operated under the “Value Buds” banner;
• Acquiring the Queen Street West “Nova Cannabis” store and converting it to the “Value Buds” banner;
• Opening two additional “Value Buds” stores in Toronto;
• Is in the process of applying to graduate to the Toronto Stock Exchange (“TSX“) from the TSX Venture Exchange (“TSXV“);
• Adopting an equity incentive plan to tie management compensation to the performance of the common shares of Nova (“Shares“); and
• Retaining new investor relations and marketing advisory firms.

Growth in Ontario: On Track to open at least 30 Value Buds stores in 2021

Nova has entered into 21 lease agreements for new retail locations across Ontario that will serve the communities where the value-conscious cannabis consumer works, shops, and lives. Nova anticipates all of these locations will be built and ready to open by the end of 2021 (with stores operating as soon as Retail Store Authorizations (“RSAs“) and approvals have been obtained from the Alcohol and Gaming Commission of Ontario (“AGCO“)).  An additional 30 plus locations in Ontario are in various stages of due diligence and negotiation with landlords.

Nova has also signed two asset purchase agreements to acquire a total of six retail store locations in Ontario from two separate entities (the “Transactions“). All six of these stores have received RSAs from the AGCO and will open to the public upon receiving approval to open from the AGCO.

“We are aggressively executing against our plan to expand the Value Buds banner this year and the acquisition of these six locations in Ontario provides us greater speed to market and compliments our organic expansion plans,” said Darren Karasiuk, CEO of Nova. “Each of the six locations has been issued a conditional RSA and work will begin immediately upon closing the Transactions to convert the stores to the Value Buds banner, and to obtain approval to open from the AGCO, just in time to take full advantage of the anticipated summer demand.”

Total consideration payable on closing, for all six locations, will be $0.8 million in cash and $1.1 million in Shares, based on the 10-day volume weighted average price (VWAP) of the Shares on June 1, 2021. Completion of the transactions are conditional upon Nova’s satisfaction of its due diligence review, obtaining all necessary third-party approvals and consents, including TSXV approval of the Transactions and listing of the Shares, and other customary conditions for transactions of this nature.

Acquisition of Queen Street West “Nova Cannabis” and Conversion to “Value Buds”

On May 11, 2021, the Company completed the acquisition of the “Nova Cannabis” store located at 499 Queen Street West, Toronto, which was previously operated under an agreement between a subsidiary of the Company and the license holder who obtained one of the first 25 retail store authorizations in Ontario via the Ontario lottery process (the “Applicant“). On November 29, 2020, the Applicant exercised its option under the agreement to require Nova to purchase the assets of the store for $1.0 million, plus customary adjustments. On May 14, 2021, the Company converted the store to the “Value Buds” banner.

Two New Value Buds Stores Opened in Toronto

On May 14, 2021, the Company opened Value Buds Lansdowne, at 1287 Bloor Street West, Toronto, and, on May 19^th, opened Value Buds Queen Street East, at 728 Queen Street East, Toronto.

“As previously announced, the conversion of our Nova Cannabis stores in Alberta to the Value Buds banner is proceeding at or better than expectations, and early results are proving out our thesis that there is significant demand for a value-focused cannabis retailer”, noted Karasiuk. “Between our acquisition of six soon to open locations, the three Toronto locations we opened in May and our robust pipeline of stores under development, we are well on track to have a minimum of 30 Value Buds stores open in Ontario, and a minimum 60 cannabis retail stores operating in Alberta and Saskatchewan by year end 2021.”

Application for Graduation to TSX

The Company is pleased to announce that it is in the process of applying for graduation from the TSXV to the TSX. Listing on the TSX is subject to the Company fulfilling all requirements of the TSX. The TSX is currently in the process of reviewing the Company’s initial application documents.

Adoption of 2021 Equity Incentive Plan

On May 17, 2021, the Company’s board of directors (the “Board“) adopted a new equity incentive plan (the “2021 Equity Incentive Plan“). The purpose of the 2021 Equity Incentive Plan is to develop senior management’s interests in the Company’s growth by providing them with an opportunity to acquire proprietary interests in Nova, to attract and retain valuable individuals to the Company using a competitive method of compensation, and to align the interests of senior management with the interests of shareholders by applying a compensation mechanism which will promote maximized distributions to shareholders and long-term growth.

The maximum number of Shares available for issuance from treasury pursuant to the exercise or redemption, as applicable, of awards granted under the 2021 Equity Incentive Plan, together with Shares issuable pursuant to all other security-based compensation arrangements of the Company, shall not exceed 10% of the total issued and outstanding Shares (calculated on a non-diluted basis). In accordance with the foregoing, for so long as the Shares remain listed on the TSXV, the number of Shares available for issuance from treasury pursuant to the exercise or redemption, as applicable, of awards granted under the 2021 Equity Incentive Plan, together with Shares issuable pursuant to all other security-based compensation arrangements of the Company, shall be 5,668,568.  The types of awards available under the 2021 Equity Incentive Plan include options, restricted share units, performance share units, deferred share units, and dividend-equivalent rights.

The TSXV has conditionally approved the 2021 Equity Incentive Plan subject to, among other things, the receipt of disinterested Shareholder approval at the next annual and special meeting of the shareholders of the Company to be held on June 22, 2021 (the “Meeting“). Further details regarding the 2021 Equity Incentive Plan are included in the management information circular of the Company which has been delivered to shareholders and filed on SEDAR in connection with the Meeting.

Retention of Investor Relations and Marketing Firms

Nova has also announced that it has retained the services of Loderock Advisors Inc. (“Loderock Advisors“) to provide strategic investor relations and capital markets communication services to the Company, and have retained Hybrid Financial Ltd. (“Hybrid Financial“) to provide marketing services to the Company.

LodeRock Advisors is a group of senior capital markets communications executives who develop and execute communications programs in order to help companies achieve their capital markets objectives and capture the full potential of their public listing. The engagement of LodeRock Advisors remains subject to the approval of the TSXV. Under the terms of the agreement with LodeRock Advisors, which will continue until either party has terminated the agreement upon thirty days’ notice, Nova will pay LodeRock Advisors a monthly fee of $12,000 for ongoing strategic communication services. At the time of this agreement neither LodeRock Advisors, nor its principals, have any direct or indirect interest in any Shares.

Hybrid Financial is a sales and distribution company that has been engaged to heighten market and brand awareness for Nova and to broaden the Company’s reach within the investment community. Using a data driven approach, Hybrid Financial provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has agreed to comply with all applicable securities laws and policies of the TSXV, and any other exchange upon which the Shares are traded, in providing its services. Hybrid Financial has been engaged by the Company for an initial period of six months (the “Initial Term“), which Initial Term shall be renewed automatically for successive periods thereafter, unless terminated by the Company in accordance with the agreement. Hybrid Financial will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term.

ABOUT NOVA CANNABIS INC.

Nova is one of Canada’s largest and fastest growing cannabis retailers with a goal to disrupt the cannabis retail market by offering a wide range of high-quality cannabis products at every-day best value prices. The Company currently operates 54 locations across Alberta, Ontario, and Saskatchewan primarily under its Value Buds and Nova Cannabis banners. The Company is majority owned by Alcanna Inc. (TSX: CLIQ).

Nova’s common shares trade on the TSX Venture Exchange under the symbol “NOVC”.

Additional information about Nova Cannabis Inc. is available at www.sedar.com and the Company’s website at www.novacannabis.ca.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements or information (collectively “forward-looking statements“) within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “continue”, “anticipate”, “will”, “should”, “plan”, “intention”, and similar words suggesting future events or future performance. All statements and information other than statements of historical fact contained in this news release are forward-looking statements. In particular, this news release contains forward-looking statements pertaining to: Nova’s retail cannabis business strategy, including organic growth and strategic acquisitions; Nova’s discount pricing model; the conversion of Nova Cannabis stores to the Value Buds banner and the timing thereof; the Company’s 2021 objectives, including planned construction of new stores, timing of new store openings, evaluation of potential sites and sales growth, particularly in the Value Buds banner; the ability of the Company to obtain government licenses for its new stores; and expectations as to consumer demands.

With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other things: the Company’s ability to identify locations for, construct and open, new stores and the cost related thereto; the availability of hardware and equipment for those stores; government regulation and applicable laws will not change in a manner adverse to the Company; receipt of necessary regulatory approvals to open new stores; the Company’s ability to obtain leases for new sites and attract the necessary personnel to operate new stores; the cost of converting existing stores to the Value Buds banner; demand for the products the Company sells; other factors that will drive sales growth in the Value Buds banner; availability of acquisition opportunities; sustainability of competitors’ businesses and competition in the retail cannabis industry, including from the illicit cannabis market; consumer demands; and factors that influence consumer behavior.

Although the Company believes that the expectations reflected in the forward-looking statements, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations and assumptions will prove to be correct, especially given the unprecedented uncertainty of the full extent and impact of COVID-19. Readers should not place undue reliance on forward-looking statements included in this news release. Forward looking statements are not guarantees of future performance and involve a number of risks and uncertainties that may cause actual performance and financial results to differ materially from any estimates, forecasts or projections. These risks and uncertainties include, among other things, the duration and severity of the COVID-19 pandemic on the business, operations and financial condition of the Company; the risk that Nova will be unable to execute its strategic plan and growth strategy, as planned, without significant adverse impacts from various factors beyond its control; dependence on suppliers; potential delays or changes in plans with respect to capital expenditures and the availability of capital on acceptable terms; risks inherent in the retail cannabis industry; competition for, among other things, customers, supply, capital and skilled personnel; changes in labour costs and markets; incorrect assessments of the value of acquisitions; general economic and political conditions in Canada (including Alberta and Ontario), and globally; industry conditions, including changes in government regulations; fluctuations in foreign exchange or interest rates; unanticipated operating events; failure to obtain regulatory and third–party consents and approvals when required; changes in tax and other laws that affect us and our shareholders; the potential failure of counterparties to honour their contractual obligations; stock market volatility; and the other factors described in the Company’s public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are made as of the date hereof. Except as expressly required by applicable securities legislation, Nova does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nova Cannabis Inc.

For further information: Darren Karasiuk, CEO, Nova Cannabis Inc., (416) 580-8768, [email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

“Today’s news represents a significant milestone towards High Tide becoming the first major cannabis retailer anywhere in the world to be listed on Nasdaq, making our shares more accessible to a larger audience of both retail and institutional investors, and increasing our appeal to potential M&A targets,” said Raj Grover, President and Chief Executive Officer of High Tide. “The announced share consolidation, coupled with other recent progress in our application, gives us confidence that we remain on course to meet the listing standards and begin trading on Nasdaq by the end of this month,” added Mr. Grover.

Acquires Three Operating Dispensaries in Northeast Pennsylvania

Purchase Price Represents a Mid-Single Digit Multiple of KCR’s Expected 2021 EBITDA

NEW YORK and TORONTO, May 3, 2021 /CNW/ – TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today reported it has closed the previously announced acquisition of GuadCo, LLC and KCR Holdings LLC (collectively “KCR”) for an implied enterprise value of US$70 million (the “transaction”). The transaction adds three retail dispensaries located in Bethlehem, Allentown and Stroudsburg to complement the Company’s existing retail footprint in Southeastern Pennsylvania.

As an operator of three well managed dispensaries in the Northeast region, KCR expands TerrAscend’s retail footprint, diversifies the Company’s customer base and enhances margins through deeper vertical integration of its market leading brands Kind Tree, Ilera, and Prism.

“With the closing of this acquisition, TerrAscend doubles our owned footprint to six dispensaries and further solidifies our leadership position as a branded manufacturer in Pennsylvania, where we distribute our products to 100% of the dispensaries in the Commonwealth,” said Jason Wild, Executive Chairman of TerrAscend.

Transaction Details
TerrAscend previously owned 10% of KCR and has acquired the remaining 90% of the equity for total consideration of $63 million, comprised of $36 million in stock, $20.25 million in cash and a $6.75 million note. The purchase price is expected to represent a mid-single digit multiple of KCR’s 2021 EBITDA.

The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

About TerrAscend
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, and California in addition to operating as a licensed producer in Canada. TerrAscend operates an award-winning chain of Apothecarium dispensary retail locations as well as scaled cultivation, processing and manufacturing facilities on both the East and West coasts. TerrAscend’s best-in-class cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use market. The Company owns several synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com.

Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include statements with respect to future revenue and profits. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in the Company’s most recently filed MD&A, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.

While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.

SOURCE TerrAscend

For further information: Keith Stauffer, Chief Financial Officer, [email protected]; Daniel Foley, SVP, Treasurer, [email protected]

Related Links

https://www.terrascend.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Acquires Three Operating Dispensaries in Northeast Pennsylvania

Purchase price represents a mid-single digit multiple of KCR’s expected 2021 EBITDA

NEW YORK and TORONTO, April 20, 2021 /CNW/ – TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE:TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced it has entered into a definitive agreement to acquire GuadCo, LLC and KCR Holdings LLC (collectively “KCR”) for an implied enterprise value of US$70 million (the “transaction”).  Upon close, the transaction will add three retail dispensaries located in Bethlehem, Allentown and Stroudsburg to complement the Company’s existing retail footprint in Southeastern Pennsylvania.

As an operator of three well managed dispensaries in the Northeast region of Pennsylvania, KCR expands TerrAscend’s retail footprint, diversifies the Company’s customer base and enhances margins through deeper vertical integration. The transaction will be immediately accretive upon closing, which is expected to occur in the second quarter, subject to customary regulatory approvals.

“The Pennsylvania medical cannabis market is a key focus for the Company,” said Jason Wild, Executive Chairman of TerrAscend. “This transaction doubles our owned footprint to six dispensaries in the state and provides patients in Pennsylvania’s Northeast region access to TerrAscend’s outstanding products, service, and support. This expanded retail footprint further solidifies our position as the leading branded cultivator and manufacturer in Pennsylvania.”

Transaction Details
TerrAscend currently owns 10% of KCR and will acquire the remaining 90% of the equity for total consideration of $63 million, comprised of $36 million in stock, $20.25 million in cash and a $6.75 million note. The purchase price is expected to represent a mid-single digit multiple of KCR’s 2021 EBITDA.

The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

About TerrAscend
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, and California in addition to operating as a licensed producer in Canada. TerrAscend operates an award-winning chain of Apothecarium dispensary retail locations as well as scaled cultivation, processing and manufacturing facilities on both the East and West coasts. TerrAscend’s best-in-class cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use market. The Company owns several synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com.

Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include statements with respect to future revenue and profits. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in the Company’s most recently filed MD&A, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.

While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.

SOURCE TerrAscend

For further information: For more information regarding TerrAscend:  Keith Stauffer, Chief Financial Officer, [email protected]; Daniel Foley, SVP, Treasurer, [email protected]

Related Links

https://www.terrascend.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.