GREY:LQSIF - Post by User
Post by
finnboyon Dec 17, 2019 6:26pm
171 Views
Post# 30466068
New Ontario Stores
New Ontario Stores Alcanna Targeting 10 Nova Cannabis Stores in Ontario by Aug 2020; Gained 5.9% on Friday
07:21 AM EST, 12/16/2019 (MT Newswires) -- Alcanna Inc. (CLIQ.TO), owner of the Nova Cannabis store brand, says it is targeting 10 Nova Cannabis stores in Ontario by August 31, 2020 and another 10-15 by year end. It expects to hit the 30 store limit before September 2021 and pursuing additional stores up to the 75 maximum.
"Ontario has just taken a tremendous step in getting cannabis out of the hands of black-market criminals and into safe, regulated legal hands," said James Burns, Alcanna's CEO and Vice Chair. "Nova Cannabis will open stores carefully and calculatedly in Ontario as we have done in Alberta. All stores are not equal. Great real estate is the best way to ensure long term viability and profitability in retail and we will only build on great sites in Ontario as we have done in Alberta."
Alcanna also has the financial capacity to build out the Ontario market without needing to access capital markets.