National Access Cannabis Corp. (NAC) (TSXV: META) announced on July 10th it has an official loan agreement with Opaskwayak Cree Nation (OCN). The loan will be used by National Access Cannabis to build 50 to 70 retail cannabis locations throughout Western Canada in 2018. The dispensary locations will be built to Meta Cannabis Supply Co.™ (META) standards. META is National Access Cannabis’ retail cannabis brand.
The loan has an interest rate of 10% per year and required a commitment fee of $1,600,000 to $3,000,000. The exact total of the fee is dependent upon certain repayment variables. Completion of the loan is expected to happen within several business days.