CannaRoyalty and Æther Gardens Sign LOI for Launch of CR Brands into the Nevada Market with a focus on Las Vegas
Ottawa, Canada – November 7, 2017 – CannaRoyalty Corp. (CSE:CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), an active investor and operator in the legal cannabis industry, today announced that it signed a letter of intent (“LOI”) with Æther Gardens (“Aether Gardens” or “AEG”), a vertically-integrated cannabis cultivator, extractor, and manufacturer based in Nevada. The LOI focuses on the launch of CR Brands products into the Nevada market through AEG with a focus on Las Vegas and includes the assistance of CR Advisory for the production and launch of products.
“This agreement represents a meaningful opportunity for CannaRoyalty to access the large and rapidly-growing demand for cannabis in the Nevada market and in Las Vegas, in particular,” said Marc Lustig, CEO of CannaRoyalty. “We are excited to combine AEG’s world-class cultivation and production facilities with CannaRoyalty’s product platforms and commercialization expertise. The addition of Nevada builds our existing brand foothold in major U.S. cannabis markets. We expect that by executing on our opportunities in California, Florida, Nevada and our other markets, we will generate substantial value for shareholders.”
This arrangement represents the Company’s third advisory mandate since the launch of its CR Advisory division in July 2017. This agreement positions the Company to support and guide AEG’s introduction of CR Brands products in the Nevada market.
2016 projections suggest that Nevada sales will grow at a compound annual rate of 51%, to sales of USD$630 million by 20201.
1Source: New Frontier and ArcView Market Research. (2016). 2016 Nevada Legal Cannabis Market State Profile
About Aether Gardens
Aether Gardens is a vertically-integrated design/operate/management company with State of Nevada cannabis cultivation and processing licenses. AEG operates a 18+-acre master plan with dedicated onsite cultivation, processing, extraction and manufacturing facilities with cGMP design/focus. Serving the Nevada marketplace with a full spectrum of hand-selected products, AEG is focused on delivering safe medicinal products at affordable patient-level prices. The company commits to maintaining a sciences-forward, cutting edge approach while maintaining high quality, consistency, and efficacy in the scaled production of cannabis-based products.
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
For further inquiries, please contact:
Marc Lustig, CEO
Jonathan Ross, CFA
LodeRock Advisors Inc.