Beleave signs cannabis retail deal with Rollins Group
BELEAVE INC. has entered into a strategic alliance agreement with Rollins Group Inc. to open and operate cannabis retail stores across Canada.
Rollins will apply for cannabis retail sales licences across the country to open and operate cannabis retail stores. Beleave is supporting Rollins to secure lease covenants for all planned locations. Rollins will be responsible for managing the day-to-day operations of the stores.
Key takeaways of the agreement:
• Rollins plans to open its first nine locations in Ontario with an additional 31 locations planned, pending approval in the province of Ontario.
• Rollins has agreed to purchase up to 1,000 kilograms of Beleaveâ€™s dry cannabis product (or equivalents) annually per location.
• Rollins shall provide Beleave with an option to purchase up to 15 per cent of all outstanding equity. Beleave and Rollins have created a joint relationship committee to review the growth and performance of the retail locations, comprising Andrew Wnek, chief executive officer of Beleave, Bojan Krasic, president and chief financial officer of Beleave, and David Shekthter and Daniel Stern, the principal partners at Rollins.
“We’re very happy to be working with David and Daniel, who have a track record of success in the cannabis industry,” said Mr. Wnek. “We look forward to meeting our customers in these new stores and serving the communities around them.”
Rollins has agreed to deal exclusively with Beleave, not directly or indirectly entering into any agreement that would compete with or conflict with the terms of the agreement, without the express written consent from Beleave.
About Beleave Inc.
Beleave is a vertically integrated Canadian cannabis company headquartered in Oakville, Ont., that operates streamlined facilities throughout Canada to cultivate high-quality cannabis flower, oil, and extracts with financed capacity in excess of 150,000 kilograms per year.
We seek Safe Harbor.
Roger Emmanuel Ferreira, Mark Heselton, Bojan Krasic, Mark Miles, Vasilios Panagiotakopoulos, Andrew T Wnek
(BE) Shares: 419,215,391