Meta Growth Secures Cannabis Retail Operator Licence to Expand Ontario Network of Retail Stores

by ahnationtalk on February 25, 202042 Views

TORONTO, Feb. 24, 2020  – Meta Growth Corp. (TSXV: META) (“Meta Growth”, “META” or the “Company”), Canada’s largest publicly traded recreational cannabis retailer by revenue1, is pleased to announce that it has been approved by the Alcohol and Gaming Commission of Ontario (“AGCO”) for a Cannabis Retail Operator Licence in the province of Ontario. The licence provides Meta Growth with the opportunity to expand its retail network across the province of Ontario, pending all required regulatory approvals.

The Company has publicly expressed its ambition to expand across Ontario with the maximum allowable number of stores, and has already secured various premium retail sites that, if approved and licenced, will soon be Meta Cannabis Co. stores. The retail strategy consists of opening urban and suburban locations to service customers across the province.

There is currently one open and operating Meta Cannabis Co. store in Ontario at 378 Yonge Street, in the heart of downtown Toronto. A second Meta Cannabis Co. location will open on February 28, 2020 in Kitchener, Ontario. Both of these locations are owned and operated by separate Ontario Cannabis Lottery winners with consulting services and brand licensing being provided by Meta Growth through two separate Service Agreements.

“Securing our Cannabis Retail Operator Licence in Ontario is a necessary milestone for our expansion in Ontario,” said Mark Goliger, CEO of Meta Growth. “We have secured urban and suburban prime real estate which are ready to build and are planned to open as soon as possible once the licensing approvals begin for the industry in April 2020. Having recently secured $21 million in gross financing through debt and equity, our roll out strategy is to open swiftly and at scale, leveraging our efficiencies in building and operating a current retail enterprise network of 35 locations across the country.”

New Meta Cannabis Co. Retail Brand and Store Experience

While the store front banner and brand Meta Cannabis Supply Co. has been established in Manitoba and Saskatchewan, for future Ontario stores the Company has enhanced and redesigned its retail store banner and brand changing the name to Meta Cannabis Co. and altering store design. The new logo design has evolved into a multidimensional word mark which represents vibe, cannabis culture, being introspective and going beyond. The new retail space concept is designed to be a cool and comfortable environment that is all about customer experience.

The shopper experience is based on a layout of design-focused fixtures and product merchandising that is coupled with guidance and consulting with highly trained staff which are known as Friendly Guides. The store concept and brand are intended for all legal age audiences, from novices to cannasseurs. This strategy is supported by products and purchasing being curated in a range of price points and quality levels, to serve all customer desires and diversity.

About Meta Growth

Meta Growth is a leader in secure, safe and responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co.™, Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational cannabis retail stores, Meta Growth enables the public to gain knowledgeable access to Canada’s network of authorized Licensed Producers of cannabis. The Company is listed on the TSX Venture Exchange under the symbol (TSXV: META).

For more information on Meta Growth, visit:
metagrowth.com 
metacannabis.com 
newleafcannabis.ca

For further information: Meta Growth: Mark Goliger, Chief Executive Officer, Meta Growth, Tel: 647-689-6382, corporate@metagrowth.com; Media Inquiries: Jessica Patriquin, Tel: 416-640-5525 x 230, Cell: 416-995-8496, jessicap@wearemaverick.com

NT4

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