Weekend Unlimited Announces Retail License For Northern Lights Supply In Alberta

 One of Only Ten New Licenses Granted, First Northern Lights Supply Retail Store to Be Open In February

CANADA: Weekend Unlimited has announce that Northern Lights Supply, for which Weekend Unlimited has previously announced an arms-length agreement to acquire 49% of, was one of ten to get a new cannabis retail store operating license in Alberta.

Northern Lights SupplyKey Points:

  • Northern Lights Supply is the first retail cannabis store servicing the Edmonton International Airport, Canada’s largest oilfield industrial park and the cities of Leduc and Beaumont
  • Northern Lights Supply is situated adjacent Highway 2, Alberta’s busiest corridor and is the first cannabis retail store to receive approval to advertise their brand along the main entrance to Edmonton with published traffic counts of 100,000 + vehicles a day
  • The store provides 6,500 square feet of retail space, making it one of the largest approved retail Cannabis stores in Alberta
  • Northern Lights Supply was designed to take advantage of the upcoming edible and infused cannabis products schedule to be legal in the fall of 2019
  • Opening planned for mid-February

“After 16 months of planning and preparation we are excited but prepared to begin operating and serving this community,” stated Northern Lights Supply President Derek Shields. “We are thrilled to one of a lucky ten to get a license to operate at this time. We have a strong business plan with extensive outreach partnerships in the works aimed at delivering educational seminars for the hospitality industry and business organizations,” added Mr. Shields.

“We are passionate about this new store and aim to be at the forefront of education within Alberta, using the store to educate businesses and the community overall about the cannabis industry. Our store model has been designed to be replicated in Alberta as additional opportunities to expand arise and the partnerships we build in the community are essential to do so in a sustainable way,” explained Mr. Shields.

 

Weekend Unlimited Enters Retail Cannabis Space In Alberta, Canada

The Northern Lights Supply 6,500 sq. ft. retail operation is based in Alberta with opening planned for December 2018

CANADA: Weekend Unlimited has announced that it has entered into an arms-length agreement which provides Weekend the option to acquire 49% of a retail cannabis store located in Nisku, Alberta.

Northern Lights Supply is situated in Nisku, Alberta, at the intersection to Canada’s largest oilfield industrial park, along Alberta’s busiest corridor, Highway 2 and opposite the Edmonton International Airport,” explained Mr. Cody Corrubia, President and CEO of Weekend Unlimited.

Weekend Unlimited BrandsThe parties have entered into a convertible secured 6% interest loan facility on November 15, 2018 for up to $1,200,000, of which the Company will initially advance $500,000. At any time during the term ending December 31, 2022, the Company has the option to convert the full amount of its $1,200,000 loan facility into 49% equity of the retail store. The option may only be exercised once Weekend has received approval from the Alberta Gaming and Liquor Commission after going through required due-diligence.

With 6,500 square feet of retail space, it is one of the largest approved retail cannabis stores in Alberta. The store was designed to take advantage of the upcoming edible and infused cannabis products schedule to be legal in the fall of 2019.  Opening is planned for early December 2018.

“We look forward to working with the team at Weekend Unlimited in growing our brand in Alberta. Their experience will be invaluable in recognizing the numerous opportunities in this new and emerging industry.” stated Northern Lights Supply President Mr. Derek Shields.