The Pas Local News

National Access Cannabis Enters a Loan Agreement with Opaskwayak Cree Nation

According to a news release from National Access Cannabis the company has entered a loan agreement with Opaskwayak Cree Nation which would see OCN lending 35 million dollars to National Access Cannabis and NAC plans to use proceeds from the loan to expand 50 to 70 cannabis retailers in Western Canada.

 

NAC CEO Mark Goliger stated in the news release that this financing will help fund the build out of their recreational cannabis retailers in Western Canada in time for retail legalization of recreational cannabis in Canada this October. OCN is expected to receive a commitment fee of $1,600,000 to $3,000,000 depending on repayment circumstances.

 

OCN Chief Christian Sinclair stated that OCN has always believed in and supported the vision of NAC and believes that this financing will allow them to build a dominant footprint of cannabis retail operations.

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