Source: The Daily Marijuana Observer
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Meta Growth (TSXV:META) has received retail license approval from the Alcohol and Gaming Commission of Ontario (AGCO)
  • The license will enable the company to expand its network of retail stores throughout Ontario
  • Meta Growth currently provides consulting services and brand licensing to two stores in the province
  • Current focus is on adding to its existing network of 35 stores around the country with the addition of its own Ontario-based outlets
  • Shares in the company are currently trading at C$0.15, with a market cap of C$35.4 million

Meta Growth (TSXV:META) has received retail license approval from the Alcohol and Gaming Commission of Ontario (AGCO).

The company currently has a network of 35 retail cannabis stores throughout Canada and is looking to expand its presence in Ontario.

Pending final regulatory clearance, Meta Growth plans to open the maximum number of allowable stores. Various retail sites have already been acquired in both urban and suburban locations.

There are currently two independently-owned stores operating in the province under the company’s ‘Meta Cannabis Co.’ brand.

Located in Toronto and Kitchener, Meta Growth provides consulting services and brand licensing to these outlets.

The company’s CEO, Mark Goliger, said that securing the Cannabis Retail Operator Licence was a necessary step for expansion in Ontario.

“We have secured urban and suburban prime real estate which are ready to build and are planned to open as soon as possible once the licensing approvals begin for the industry in April 2020,” he added.

“Having recently secured C$21 million in gross financing through debt and equity, our roll out strategy is to open swiftly and at scale…”

Meta Growth is well established in other parts of the country, with stores operating in Manitoba and Saskatchewan under the ‘Meta Cannabis Supply Co.’ brand.

However, the future Ontario stores will meet consumers under the new ‘Meta Cannabis Co.’ brand.

The outlets will also feature updated and revitalised store banners and store designs.

A core pillar of the company’s strategy is its customer experience – which it says is led by their highly trained staff, known as ‘Friendly Guides’.

The redesigned retail spaces will also offer a “cool and comfortable environment,” serving a range of customers “from novices to cannasseurs.”

Shares in Meta Growth are currently trading at C$0.15, with a market cap of C$35.4 million.

More From The Market Herald
BioHarvest - CEO, Ilan Sobel

" BioHarvest Sciences (CSE:BHSC) exploring opportunities to sell its cannabis products in the Canadian market

BioHarvest Sciences (BHSC) is exploring opportunities to acquire an existing licensed facility or a Licensed Producer in Canada.
HEXO - CEO, Scott Cooper.

" HEXO (TSX:HEXO) delineates its path forward

HEXO (HEXO) has announced cost-saving initiatives to carry the company into the future.

" Tinley’s (CSE:TNY) makes production announcement, closes first tranche of private placement

The Tinley Beverage Company (TNY) will begin making Green Monké products at its Long Beach facility.

" Tinley (CSE:TNY) announces first product clearance under California distribution license

The Tinley Beverage Company (TNY) has released an update regarding products manufactured at its Long Beach facility.