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Weekend Unlimited acquiring vertically integrated cannabis operations in Oklahoma

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PPK has secured licenses in Oklahoma for cultivation, processing, transportation and has applied for a retail license

Additional Information:

Company: Weekend Unlimited
Website: http://www.weekendunlimited.com
Stock Symbol: CSE: POT
Date Published: Feb 26, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Weekend Unlimited has signed a letter of intent with PPK LLC to acquire 51% of its vertically integrated cannabis operations in Wilburton, Oklahoma.

PPK has secured licenses in Oklahoma for cultivation, processing, transportation and has applied for a retail license

Paul Chu, Weekend Unlimited President and CEO, stated: “We have strategically targeted Oklahoma, the state has moved faster than any other state in embracing the industry, and we see the business-friendly market translating into a consumer-friendly environment where the best brands will succeed for the long term.”

The 7-acre property includes two main buildings, with the larger 15,000 square foot facility housing nursery, cultivation and extraction activities, including a 1500 square foot retail designated space for a concept store to be developed as a first location in Oklahoma.

The smaller 5,000 square foot building will be used for production and packaging of Weekend’s Canna Candys brand, scheduled for mid-March, with distribution and sales in Oklahoma expected by April 1st.

The company's product focus for the Oklahoma medical market will be centred upon vape cartridges, dab rigs and candy products, which will be expanded to include beverages, topicals and supplements.

Weekend will acquire 51% of the operation in exchange for $5,610,000, consisting of 50% cash and 50% shares, with an option to purchase the balance.

On February 23rd, Northern Lights Supply celebrated its grand opening of its Nisku, Alberta location, near the Edmonton International Airport, less than 3 weeks after receiving one of 10 new licenses in Alberta.

With 6,500 square feet of retail space, one of the largest approved retail cannabis stores in Alberta, it is designed to take advantage of the upcoming edible and infused cannabis products schedule to be legal in the fall of 2019.

Weekend has an agreement to acquire 49% of Northern Lights.

Derek Shields, President of Northern Lights Supply, stated: "The initial customer response confirmed we hit a home run with not only our store design and selection but just as important, our team's commitment to cannabis education. With very little promotion our grand opening achieved sales of $27,000 (approximately 35% margin) and our customers provided terrific feedback, mainly that they appreciated an education focused experience in the store, something we see as our number one priority."

Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments.

The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles.

Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems.

Weekend Unlimited, which began trading on the CSE on October 15th, is currently trading at $0.14.

For more information, please visit the company’s website at www.weekendunlimited.com or contact Paul Chu, President and CEO, at 1-888-556-9656 or email ir@weekendunlimited.com.

I’m Megan Edwards for Investmentpitch Media