- Wildflower Brands’ announcement of plans to acquire City Cannabis Corp. represents the latest step in Wildflower’s international expansion
- City Cannabis is only the company with multiple licenses in British Columbia, and the only BC-based retailer to go public
- The proposed acquisition represents a major opportunity to gain exposure to the Canadian consumer market, as City Cannabis anticipates operating stores across Canada
The recently announced LOI (http://ibn.fm/oq9Gy) for the acquisition of Vancouver-based licensed cannabis retailer City Cannabis Corp. by wellness brand builder Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) is a major step for Wildflower. The move points to the potential of a Canada-wide retail presence with City’s own plans for retail expansion. Vancouver news outlet BIV noted that City Cannabis — termed Vancouver’s “first legal cannabis boutique” — expects to eventually operate 20 to 30 stores across the country (http://ibn.fm/9HQWj). Wildflower already sells various CBD products throughout the U.S., and this latest announcement is seen as one part of Wildflower’s ongoing strategy to build itself as an international player in the global cannabis market.
City Cannabis is a cannabis retailer holding two of the three City of Vancouver licenses to sell cannabis, and it is the only company with multiple licenses in the Province of British Columbia. It is also expected to be the only BC-based cannabis retailer to go public. In addition, the company currently has multiple cannabis retail license applications submitted in the provinces of British Columbia and Alberta.
In a news release, William MacLean, Wildflower’s CEO, commented, “City Cannabis and Wildflower are the perfect combination of premier products and a premier consumer retail experience. City Cannabis’ retail consumer data and insight will help shape development of Wildflower’s product line-up while the retail expertise of City Cannabis will aid Wildflower in its retail expansion.”
Krystian Wetulani, City Cannabis’ CEO, added, “Wildflower has a tremendous team that has developed several prominent cannabis brands and we are excited to join with them to bring their branding and marketing expertise to City Cannabis as we expand into the Canadian regulated market.”
For more information, visit the company’s website at www.WildflowerBrands.co
NOTE TO INVESTORS: The latest news and updates relating to WLDFF are available in the company’s newsroom at http://ibn.fm/WLDFF
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