Solo Growth is ideally positioned to capitalize on the market opportunity presented by the legalization of cannabis in Canada with the enactment of Bill C-45, the Cannabis Act, which received Royal Assent on June 7, 2018 and came into force on October 17, 2018.
- Strong balance sheet and prudent capital management with an estimated working capital position of $18.5 million (March 2019)
- This will allow the Company to pursue value-add opportunities and fund launch when supply issues are resolved
- Evolution of the Company’s corporate strategy to include accretive strategic acquisitions, partnerships and/or other ventures aimed at enhancing long-term shareholder value
- Successful build-out of the critical administrative, accounting and human resources personnel negates need for third party services agreement and enables relocation of corporate headquarters, saving approximately $200,000 in annualized costs
- Three of the Company’s first fully-constructed and completed Alberta retail stores (Lloydminster, Vermilion and Vegreville) have had inspections completed by the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”).
- As a result, the Company will be able to open these stores immediately upon granting of an AGLC license, which remains at the discretion of AGLC subject to the prevailing supply constraints in Canada
- An additional four stores (Calgary, Edmonton, Spruce Grove and Stony Plain) are near completion and expected to be ready for inspection through March / April 2019