Unified Global to Acquire Its First Canadian Cannabis Dispensary Chain in Alberta
Unified Global Corp (OTC PINK:CHYL) announced a Letter of Intent to acquire its first cannabis retail dispensaries in Alberta, specifically Canmore Cannabis Company and Cochrane Cannabis Company. These dispensaries are viewed positively due to their strong cash flow and community engagement. The acquisition aims to support sales growth, profit margins, and increase product offerings. The deal awaits regulatory approval from Alberta's cannabis regulator. Unified Global plans to become a vertically integrated cannabis operator across Canada and the U.S.
- Acquisition of Canmore and Cochrane Cannabis Companies expected to enhance cash flow and community engagement.
- Expected support for sales growth and profit margin improvement.
- Expansion of product offerings and employee development opportunities.
- Transaction contingent on regulatory approval from AGLC, which may delay completion.
- Uncertainty around successful execution of strategic plans and potential challenges in integration.
DENVER, CO & CALGARY, AB / ACCESSWIRE / October 15, 2021 / Unified Global Corp (OTC PINK:CHYL) ("Unified Global") announced today that it has signed a Letter of Intent to acquire its first chain of neighborhood cannabis retail dispensaries in Canada. Canmore Cannabis Company and Cochrane Cannabis Company are expected to become the anchor dispensaries for Unified Global in Alberta. These anchor dispensaries were chosen for strong positive cash flow and excellent community engagement.
"We want to work with entrepreneurs that have a very direct relationship with their neighbors and customers. The Canmore & Cochrane Cannabis Companies are great operators with teams that have established trust in their region," stated Unified Global's Chief Executive Officer, Charles Hawley.
"We're thrilled to be joining other small business owners into Unified Global's collective and be part of Unified's plan to become a vertically integrated international cannabis company that will help us grow, as well providing our shareholders with liquidity," said Matt Urbanowicz, Canmore Cannabis Company's current Managing Partner.
Among other benefits by joining with Unified Global, the Canmore and Cochrane Cannabis Companies will have support for their sales growth, bottom line profit margins, extended product offering to more proprietary products, as well as educational, career advancement and stock option opportunities for their employees.
The transaction is expected to close upon satisfaction or waiver of standard conditions for transactions of a similar nature, including receipt of regulatory approvals from the AGLC, the Alberta government's cannabis regulator.
About Unified Global
Unified Global intends to become a vertically integrated Canadian/American MultiState Operator (Can-Am MSO) by acquiring and consolidating cannabis operations in various mature cannabis markets. Unified is led by an experienced team with significant cannabis operating expertise from the US and Canada.
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UNIFIED GLOBAL CORP.
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Cautionary Statements
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely," "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained in this press release includes, without limitation, the Company's intention to acquire the Canmore Cannabis Company and the Cochrane Cannabis Company, strategic plans for Unified Global generally, the growth rate, size or nature of the cannabis market, the success of the cannabis retailers which Unified Global acquires or in which it intends to invest, Unified Global's business plans, Unified Global's business strategy and investment plans, and Unified Global's ability to grow and become a vertically integrated cannabis company. There is no assurance that the transactions described herein will occur on the expected timeline, in the manner described or at all.
Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including the inability or failure of Unified Global in completing the acquisition of the Cochrane Cannabis Company or Canmore Cannabis Company as described, or at all, the receipt of all applicable regulatory approvals for the transaction, including the AGLC's approval as required under applicable law, the inability or failure of Unified Global to execute their business and strategic plans as contemplated or at all, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence in the COVID-19 pandemic.
Other risk factors include: the risks resulting from the US marijuana industry, which may be legal under certain state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit Unified Global's ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Unified Global to service its current or future debt; Unified Global's ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.
The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. Unified Global undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE: Unified Global Corp.
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