- Wildflower Brands’ dominance is growing with its proposed acquisition of City Cannabis Co., Vancouver’s first legal cannabis boutique
- A building permit has been issued for a third City Cannabis store, to be located in one of Vancouver’s busiest pedestrian and retail districts
- British Columbia’s legal cannabis market is projected to reach $722 million by 2024
- Wildflower Brands serves cannabis consumers in the U.S. and Canada, with distribution in over 300 stores
Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) continues to reach numerous significant milestones in its drive to create brands that work in synergy with the company’s slogan of ‘Plants Heal’. Wildflower’s success toward becoming a global wellness brand leader can be seen in its growing distribution network within the United States and its recently announced letter of intent to acquire City Cannabis Co. of Vancouver, British Columbia (http://ibn.fm/p9E3u).
As a cannabis company dedicated to developing and designing brands that focus on plant-based health and wellness products, Wildflower’s reach extends to both the medicinal and recreational sectors. The acquisition of City Cannabis, which already has two retail shops open in Vancouver, includes a third location now that a building permit has been issued by the city. The retail site location on Cambie Street is situated along one of the busiest corners in the city, with pedestrian traffic currently at 12,000-plus per day and growing year-over-year, Wildflower stated in a news release (http://ibn.fm/e6POT).
“City Cannabis is the first multiple location operator to come out of British Columbia and has a proven track record in opening and licensing premier cannabis retail locations,” William MacLean, CEO of Wildflower Brands, said in the release. “With the addition of the Cambie Village location, their current 610 Robson Street location will congruently continue to strengthen brand dominance. BC has always been considered the most cultured cannabis market in the world and City Cannabis is building a cohesive network of operations that will provide consumers with the ultimate retail experience anywhere in Canada.”
A new report by Arcview Market Research and BDS Analytics estimates that British Columbia’s legal cannabis market will surge to $722 million by 2024 after ringing up $19.1 million in 2018, as the Vancouver Sun reports (http://ibn.fm/ZfQcV). Since the city of Vancouver has the authority to license and zone for a limited number of cannabis businesses, dispensaries and retail shops with proper provincial licenses are expected to flourish.
MacLean said that Wildflower is excited to combine its premier products with the consummate retail experience offered by City Cannabis Co.
“City’s retail consumer data and insight will help shape development of Wildflower’s product line-up while the retail expertise of City will aid Wildflower in its retail expansion,” MacLean added. “The combination of Wildflower and City will form a truly global cannabis company.”
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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