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Meta Growth Not Selling to Evergreen

Meta Growth has announced it won’t be moving forward with its previous announcement to sell its medical cannabis clinics division to Evergreen Pacific Insurance Corporation.

It has been terminated “immediately,” according to a news release from Meta Growth.

The sale was originally announced on Nov. 1, 2019.

Evergreen Pacific Insurance Corporation is an “insurance product developer and brokerage, which owns and operates a captive marketing and sales distribution channel.” Evergreen’s website states its “ecosystem” of companies focuses on the “comprehensive needs of the alternative healthcare consumer.”

“META’s focus remains on maintaining a leadership position within the retail recreation cannabis industry and we are committed to finding the right home for our established medical clinics division,” said Mark Goliger, Meta Growth’s CEO.

META describes itself as the “largest Canadian recreational cannabis retailer,” according to its website, with 36 licensed stores in Alberta, Saskatchewan, and Manitoba.

In December, Meta Growth’s retail stores recorded a quarterly revenue of $17.1 million. Six stores opened in that quarter.

The company was previously known as National Access Cannabis, with the name change taking place in November of 2019.

Photo credit: CBD-Infos-com/pixabay