Weekend Unlimited Inc (CSE:POT) (OTCPINK:WKULF) announced Tuesday that its subsidiary Northern Lights Supply is one of ten companies to win a new cannabis retail store operating license in Alberta.
Northern Lights, in which Weekend Unlimited has moved to acquire a 49% stake, is the first retail cannabis store servicing the Edmonton International Airport, Canada’s largest oilfield industrial park and the cities of Leduc and Beaumont.
Set to open in mid-February, the store offers 6,500 square feet of retail space, making it one of the largest approved retail cannabis stores in Alberta. Also, the new retail outlet sits adjacent to Highway 2, Alberta’s busiest traffic corridor, and it is the first cannabis retail store to receive approval to advertise along the main entrance to Edmonton.
“We are thrilled to be one of a lucky ten to get a license to operate at this time. We have a strong business plan with extensive outreach partnerships in the works aimed at delivering education seminars for the hospitality industry and business organizations,” said Northern Lights Supply president Derek Shields in a statement.
The opening of Northern Lights’ retail store aims to take advantage of the market for edible and infused cannabis, which is set to be legal in the fall of 2019.
Based in Vancouver, Weekend Unlimited is a cannabis-focused investment company that specializes in the scaling of small to medium brands, primarily in the categories of flower, extracts and edibles.
Weekend Unlimited shares edged up 5.65 to finish at C$0.285 on Monday.
Contact Ellen Kelleher at [email protected]