One of Canada’s truly vertically-integrated cannabis companies continues its upward momentum with its aggressive strategy of acquiring premium assets.
And for value and opportunity investors in the retail cannabis space, this is big news.
On January 24th,Westleaf Inc. (
V.WL,
Forum) announced it had acquired 100% of cannabis retail company
Canndara Canada Inc. With more than 50 prospective premium retail locations across Canada, Canndara already has 17 development permits awarded in Western Canada.
On January 28, 2019, the Company announced it had signed a definitive agreement to acquire Delta 9 Cannabis Inc.’s (
TSX: V.NINE,
OTCQB: VRNDF,
Forum) 50% interest in the Delta West extraction facility, bringing Westleaf's total ownership to 100%.
And a day later, Westleaf
announced that it had struck a deal for an option to buy two Saskatoon SK cannabis outlets once the stores open, expected to follow the Prairie Records cannabis store opening in Warman SK on February 1, 2019.
These recent acquisitions have highlighted Westleaf’s upward momentum not only in the expanding retail sector but in its strong stock performance.
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Westleaf Highlights:
- 100% Ownership of Delta West – The world class extraction facility now under construction in Calgary will be 100% owned and operated by Westleaf and will allow further expansion of the product line by end of 2019.
- Expanded Retail Footprint in Western Canada – The Canndara acquisition further expands the Prairie Records portfolio of premium cannabis retail stores across Western Canada.
- Opening of Prairie Records Store – The opening of a Prairie Records store in Warman, Saskatchewan represents a significant milestone for Westleaf as it begins rolling out this unique retail concept.
- Accelerated Brand Recognition – The option agreement to purchase the Saskatoon retail operations, allows Prairie Records to accelerate brand recognition in Saskatchewan and drive traffic to its e-commerce platform.
“The opening of a Prairie Records store in Warman, Saskatchewan, the addition of new stores in Saskatoon, adding the Canndara retail footprint and the consolidation of Delta West represents a significant milestone for Westleaf. Collectively these transactions accelerate the building out of our corporate strategy,” said Scott Hurd, President and CEO of Westleaf. “As a vertically integrated cannabis company we are steadfast in our commitment to execute on our plans to have assets across the value chain.”
Hurd added, “Combined with the cultivation facility under construction near Battleford, Saskatchewan and the extraction and production centre under construction in Calgary, Alberta, our strategy is rolling out as planned.”
Westleaf Cannabis Inc. President and CEO Scott Hurd
Unique Brand Proposition: Prairie Records
Focusing exclusively on densely-populated neighborhoods, high traffic areas, and tourist destinations, Prairie Records retail stores will be situated in some of the most premium retail locations across the country. The foundation of the retail concept is ingrained with a desire to create an unparalleled cannabis purchasing experience through tactile in-store features and product offerings that celebrate and promote the inherent relationship between music and cannabis.
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Featuring a rollout of upwards of
50 retail locations in markets across Western Canada by the end of 2020 – including its first Alberta location in Calgary’s iconic Palace Theatre – Westleaf says they’re
“committed to becoming a leader in the cannabis retail market in Canada”.
Westleaf also plans to service the Saskatchewan retail cannabis community by launching a Prairie Records store in Warman, just north of Saskatoon, with an extended product offering through its e-commerce platform that will serve the entire province of Saskatchewan. Other retail plans include evaluating and securing numerous cannabis retail options throughout Alberta, Saskatchewan, British Columbia, and potentially Ontario (subject to provincial regulations) – all of which is in addition to Westleaf being added to the pre-qualified list for the
Manitoba lottery for cannabis retail licenses.
About Westleaf
Westleaf is a vertically integrated cannabis company focused on innovative retail experiences and engaging cannabis brands as well as cultivation, production and extraction of cannabis products. Westleaf is rolling out a national footprint for its retail concept
Prairie Records, with upwards of 50 stores planned for British Columbia, Alberta, Saskatchewan and potentially Ontario through the end of 2020. Westleaf also has two large scale production facilities under construction and scheduled for completion in 2019.
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www.westleaf.com
www.prairierecords.ca
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.