According to the most recent data available from the Newfoundland and Labrador Liquor Corporation (“NLC”), annual sales of cannabis is growing rapidly at a double-digit growth rate within the region. The NLC reported total retail cannabis sales increased by 17.2% for a total of over $61 million for its fiscal year 2022.[1]
Along with its direct delivery distribution platform to licensed cannabis retailers, Atlantic operates eight retail locations throughout Newfoundland and Labrador.
About Atlantic Cultivation Inc.
Atlantic Cultivation Inc. is owned by a team of Newfoundlanders and Labradorians that believes in offering great quality cannabis to the people in Newfoundland and Labrador and throughout the country. We have created an amazing team obsessed with Quality, Community and Fun. Our cannabis cultivation and processing facility is in St. John’s, NL. We also own and operate Atlantic Cannabis retail locations across the province. Visit one of our locations to find exciting cannabis products from us and our partners.
[1] https://www.nlliquorcorp.com/about-newfoundland-labrador-liquor-corporation/news-releases/302-newfoundland-and-labrador-liquor-corporation-nlc-announces-fourth-quarter-q4-performance
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Jason McBride, Corporate Development
604-283-2301 (ext. 219)
jason@nextleafsolutions.com
On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the Company’s anticipated delivery of its products to provincial markets across Canada and those regarding the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s MD&A for the most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The Canadian Securities Exchange has not reviewed or approved the contents of this press release.