- Eden Empire (EDEN) has entered into a joint venture for its proposed flagship Vancouver dispensary
- The company will sell a 50-per-cent interest in the location to a private arm’s-length third party for C$1,050,000 in cash
- It will operate the location while sharing associated costs with the buyer
- Eden engages in retail cannabis sales with the intention of becoming a fully integrated cannabis producer
- Eden Empire (EDEN) is unchanged trading at $0.045 per share
Eden Empire (EDEN) has entered into a joint venture for its proposed flagship Vancouver dispensary.
Pursuant to the share purchase agreement, the company will sell a 50-per-cent interest in the location to a private arm’s-length third party for C$1,050,000 in cash.
Eden will operate the location through a joint venture vehicle while sharing associated costs with the buyer.
Key location takeaways
- Sits on Davie Street’s 1600 Block in Vancouver’s West End, which is well-anchored with a new supermarket, drugstore and liquor store
- Just steps from English Bay Beach and the Vancouver Seawall
- Daily traffic of 7,000 vehicles and 4,000 pedestrians
Gerry Trapasso, Director and CEO of Eden Empire, stated,
“Eden is excited to link into a JV for another store in Canada. The partnership will be one of growth, and both parties are excited about this location in the heart of the West End. This location is a two-floor giant that will allow for massive branding exposure and become a destination for locals, cannabis connoisseurs and tourists looking to experience the best that Vancouver has to offer in the cannabis market. This partnership will allow the company to project powerfully in Vancouver and prepare for the imminent expansion in the state of Michigan.”
Eden engages in retail cannabis sales with the intention of becoming a fully integrated cannabis producer.
Eden Empire (EDEN) is unchanged trading at $0.045 per share as of 10:20 am ET.
