National Access Cannabis (TSXV: META) announced this morning that it will be changing its name to that of Meta Growth. Concurrently, the firm has entered an agreement to sell its medical cannabis clinics division, allowing the firm to wholly focus on its retail cannabis operations.
The name change to Meta Growth is being conducted to better represent the company as a whole. While shareholders have yet to vote on the name change, the firm has already entered the process of operating under the name for business purposes. The new name is intended to reflect cannabis culture through strength, passion, and a unique presence in the retail space.
Commenting on the name change from National Access Cannabis to that of Meta Growth, CEO Mark Goliger stated, “As the cannabis industry has evolved, our focus has shifted from medicinal to recreational cannabis, and today, retail is our portfolio and our future. Brand recognition and consistency are key to our success and META is ready to continue to maintain our leadership position in the Canadian retail market.“
In conjun ction with the realignment of Meta Growth’s operations, it has entered a definitive agreement with that of Evergreen Pacific Insurance Corporation to sell its medical cannabis clinics division. The sale will take the form of an all cash transaction, valued at $4 million. The sale of assets is expected to close by November 30, 2019.
The medical cannabis clinics division was viewed as a non-core asset to that of National Access Cannabis, and as a result was sold off to further fund the development and growth of its retail operations.
National Access Cannabis, now Meta Growth, closed yesterdays session at $0.28 on the TSX Venture.
Information for this briefing was found via Sedar and National Access Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.