CannaRoyalty and Æther Gardens Sign LOI for Launch of CR Brands into the Nevada Market with a focus on Las Vegas
Ottawa, Canada – November 7, 2017 – CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) (“CannaRoyalty” or the “Company”), an active investor and operator in the legal cannabis industry, today announced that it signed a letter of intent (“LOI”) with Æther Gardens (“Aether Gardens” or “AEG”), a vertically-integrated cannabis cultivator, extractor, and manufacturer based in Nevada. The LOI focuses on the launch of CR Brands products into the Nevada market through AEG with a focus on Las Vegas and includes the assistance of CR Advisory for the production and launch of products.
“This agreement represents a meaningful opportunity for CannaRoyalty to access the large and rapidly-growing demand for cannabis in the Nevada market and in Las Vegas, in particular,” said Marc Lustig, CEO of CannaRoyalty. “We are excited to combine AEG’s world-class cultivation and production facilities with CannaRoyalty’s product platforms and commercialization expertise. The addition of Nevada builds our existing brand foothold in major U.S. cannabis markets. We expect that by executing on our opportunities in California, Florida, Nevada and our other markets, we will generate substantial value for shareholders.”
This arrangement represents the Company’s third advisory mandate since the launch of its CR Advisory division in July 2017. This agreement positions the Company to support and guide AEG’s introduction of CR Brands products in the Nevada market.2016 projections suggest that Nevada sales will grow at a compound annual rate of 51%, to sales of USD$630 million by 2020*.
* Source: New Frontier and ArcView Market Research. (2016). 2016 Nevada Legal Cannabis Market State Profile
About Aether Gardens
Aether Gardens is a vertically-integrated design/operate/management company with State of Nevada cannabis cultivation and processing licenses. AEG operates a 18+-acre master plan with dedicated onsite cultivation, processing, extraction and manufacturing facilities with cGMP design/focus. Serving the Nevada marketplace with a full spectrum of hand-selected products, AEG is focused on delivering safe medicinal products at affordable patient-level prices. The company commits to maintaining a sciences-forward, cutting edge approach while maintaining high quality, consistency, and efficacy in the scaled production of cannabis-based products.
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements including the Company’s expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.