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Second Cup & NAC Alliance

Se­cond Cup and National Access Cannabis (NAC) have established a strategic alliance to de­velop and oper­ate a network of NAC-branded private cannabis stores.

NAC CEO, Mark Goliger, says, “The relationship al­lows us to quick­ly ex­pand our footprint in prov­en high-traf­fic re­tail lo­ca­tions across Canada. With an initial focus on Western Canada, we’ll look to work with Second Cup to license select storefronts, utilizing our proven business model to deliver secure, safe, and responsible access.”

Garry Macdonald, President & CEO of Second Cup, notes, “This stra­tegic rela­tion­ship pro­vides Se­cond Cup with a great op­por­tun­ity to lever­age our se­lect real estate assets to in­crease value for share­hold­ers and fran­chis­ee part­ners.”

NAC-branded stores will be lo­cat­ed across West­ern Canada, where private stores will be retailing cannabis. NAC has already been se­lect­ed by Manitoba’s gov­ern­ment as one of the organizations to han­dle re­tail sales of cannabis.

NAC will apply for the licenses and will work with Se­cond Cup and ap­plic­able fran­chis­ees to con­struct stores carry­ing can­na­bis prod­ucts.

In consideration of Second Cup agreeing to enter into this strategic alliance, NAC has issued to Second Cup warrants to purchase an aggregate of 5,000,000 common shares of the Company. The warrants have an exercise price of $0.91 per common share and expire on April 12, 2023. The issuance of the warrants remains subject to requisite regulatory approval, including the approval of the TSX Venture Exchange.