TORONTO, Nov. 9, 2018 /PRNewswire/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") is pleased to announce it has entered into a Strategic Alliance Agreement (the "Agreement") with the Rollins Group Inc. ("Rollins") to open and operate cannabis retail stores across Canada.
Rollins will apply for cannabis retail sales licenses across the country to open and operate cannabis retail stores. Beleave is supporting Rollins to secure lease covenants for all planned locations. Rollins will be responsible for managing the day-to day operations of the stores.
Key Takeaways of the Agreement:
- Rollins plans to open its first nine locations in Ontario with an additional 31 locations planned, pending approval in the province of Ontario;
- Rollins has agreed to purchase up to 1,000 kg of dry cannabis (or equivalents) of Beleave product annually per location; and
- Rollins shall provide Beleave with an option to purchase up to 15% of all outstanding equity.
Beleave and Rollins have created a Joint Relationship Committee to review the growth and performance of the retail locations, comprised of Andrew Wnek, CEO of Beleave, Bojan Krasic, President & CFO of Beleave, and David Shekthter and Daniel Stern, the principal partners at Rollins.
"We're very happy to be working with David and Daniel who have a track record of success in the cannabis industry," said Beleave CEO, Andrew Wnek. "We look forward to meeting our customers in these new stores and serving the communities around them."
Rollins has agreed to deal exclusively with Beleave, not directly or indirectly entering into any agreement that would compete with or conflict with the terms of the Agreement, without the express written consent from Beleave.
ABOUT ROLLINS GROUP INC.
Launched in 2018, Rollin's is positioned to be one of Canada's top cannabis retail shopping chains. Rollin's will provide customers with a fun, warm, and inviting experience which caters to both beginners and advanced cannabis users. It is a mix of new-age retail with an "old-school" feel, making sure that customers are comfortable and educated at all times. Whether you live in the busy urban city or relaxing small town, Rollin's is looking to be strategically positioned and designed to cater to all demographics.
With many years of experience in the legal Cannabis industry, Rollin's management team is comprised of successful and reputable industry veterans who have founded and operated some of Canada's largest cannabis companies to date.
Rollin's is truly a "people's" brand, and will one-day be a household name.
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that operates streamlined facilities throughout Canada to cultivate high-quality cannabis flower, oil, and extracts with funded capacity in excess of 150,000 kg per year.
Fully-licensed to cultivate and sell medical and recreational cannabis, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave is currently developing new product lines for October 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave is growing its storefront and online sales presence rapidly through its wholly-owned subsidiaries, Beleave Kannabis Corp. and Seven Oaks, which are licensed for medicinal and recreational sales respectively. The company's first retail location is opening this fall in Lloydminster, Saskatchewan. Beleave has also developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner.
Through its majority ownership of Procannmed S.A.S., Beleave has access to 27 hectares of outdoor grow space and is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market.
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
SOURCE Beleave Inc.