CannaRoyalty Congratulates National Access Cannabis Corp. on the Conditional Approval of a License to Operate Private Retail Cannabis Stores in Manitoba
Ottawa, Canada – February 16, 2018 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), an active investor and operator in the legal cannabis industry, announced today that National Access Cannabis Corp. (“NAC”) has been chosen by the government of Manitoba as one of four conditional recipients of licenses to operate privately owned retail cannabis stores in Manitoba. CannaRoyalty has a binding term sheet with NAC regarding the distribution of cannabis products for Manitoba dispensaries. CannaRoyalty, Cannabis Wheaton Income Corp. and Tilray collectively participated in NAC’s response to Manitoba’s November 2017 Request for Proposals (“RFP”). The number of retail locations to be opened by NAC remains subject to ongoing discussion with the Province.
“We would like to congratulate NAC on this substantial win and appreciate CannaRoyalty’s inclusion as part of this RFP,” said Marc Lustig, CEO of CannaRoyalty. “This development reinforces the quality of CannaRoyalty’s value-added downstream cannabis product portfolio, which has received growing attention from Canadian and international players over the past several months. This partnership will provide NAC access to key elements of CannaRoyalty’s product suite, which have been proven in mature, sophisticated markets such as California. As Health Canada finalizes its proposed approach to the regulation of cannabis and moves to allow the production and sale of an extended product shelf such as edibles, pre-rolls and concentrates, we anticipate significant demand from consumers in these areas as we have seen in other mature cannabis markets, globally.”
“With a proven portfolio of branded products and years of industry expertise, we are pleased to work with CannaRoyalty to provide Manitobans a greater variety of choice in our new retail stores,” said Mark Goliger, CEO of NAC. “CannaRoyalty’s deep retail cannabis, distribution and product experience combined with our history of running safe and responsible medical care clinics contributed to our successful application.”
CannaRoyalty is an active investor and operator in the legal cannabis industry. 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. CannaRoyalty’s shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.