Eden Empire Secures Cannabis Development Permit and Announces Joint Venture in Historic Gastown Vancouver Canadian Stock Exchange:EDEN.CN

Eden Empire Secures Cannabis Development Permit and Announces Joint Venture in Historic Gastown Vancouver Canadian Stock Exchange:EDEN.CN

News Highlights

VANCOUVER, British Columbia, April 05, 2021 (News) — EDEN™ (CSE:EDEN), is thrilled to announce that the City of Vancouver has granted to EDEN™ a development permit for a new retail cannabis location at 348 Water Street, located in the heart of Gastown, Vancouver. EDEN™ has also entered into a letter of intent with an arm’s length third party to operate its Gastown location as a joint venture for proceeds of $500,000CAD. EDEN™ intends to use these funds to expand its footprint in the State of Michigan.

Key Takeaways

  • Gastown serves as a primary shopping, dining and entertainment district in the heart of Downtown Vancouver.
  • This location sits just steps from the Historic Steam Clock and Terminal SkyTrain Station.
  • Expected to use the proceeds for further expansion in the US cannabis market.

Gerry Trapasso, Director & CEO, commented, “Being located just footsteps from Terminal Station and the historic Gastown Steam Clock makes this location a massive attraction for tourists, visitors and residents of the area. We are extremely excited about the introduction to this area and feel our boutique style culture provides an exciting opportunity in Gastown. Obtaining the Gastown location allows EDEN to uniquely position itself with key retail locations within the City of Vancouver.

The gross proceeds brought in through this JV will be used to further our expansion in the US and comes after more powerful news is released from the State of Michigan.”

For further information or should you have any questions, please feel free to email us at investors@edenempire.com.

Gerry Trapasso, CEO

About Eden Empire

EDEN™ is in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales. EDEN™ intends to expand its retail operations in Canada and to expand its business to cannabis cultivation, extraction and processing‎ and become a fully integrated cannabis product company in the United States.

EDEN™ has an award winning and established nationwide brand, including a substantial intellectual property portfolio, and a dedicated management team with extensive cannabis industry experience. Upon completion of EDEN’s currently intended acquisitions, and approval to operate its retail locations, the Company is expected to have a significant retail cannabis footprint in Canada and Michigan. Retail cannabis operations are an emerging sector with significant cash flow potential.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the opening of Eden’s retail cannabis store at the 348 Water St. location; the estimated timing of the opening of the Water Street location; the general outlook of the Water Street location and the potential for it to amplify Eden’s brand and loyal following; the Company’s future operations of retail cannabis stores in the United States and Canada; the Company expanding its business to cannabis cultivation, extraction and processing and becoming a fully integrated cannabis company in the United States; the completion of the Company’s currently intended acquisitions; the receipt of all necessary licenses and approvals to operate the Company’s retail locations; the performance of the cannabis industry generally and its cash flow potential; and the proposed future transactions Eden may undertake and their expected timing.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Eden to control or predict, that may cause Eden’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: Eden may not obtain the requisite regulatory approvals and may not begin operating cannabis retail or cultivation and processing operations; that the actual use of proceeds may differ from those currently stated; the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; currency fluctuations; regulatory restrictions and the possibility for changes in laws, rules, and regulations in the industry; liability, competition, loss of key employees and other related risks and uncertainties. Eden does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3807854c-886f-4dce-9799-59f0c3ce8b82

  • Check the latest Business news updates and information updates.
  • Please share this news Eden Empire Secures Cannabis Development Permit and Announces Joint Venture in Historic Gastown Vancouver Canadian Stock Exchange:EDEN.CN with your friends and family to support us your one share helps us a lot.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Local martial arts companies try to support and help Asian residents to protect themselves from hate crimes

Local martial arts companies try to support and help Asian residents to protect themselves from hate crimes

For students like Bethany Tan, these classes have helped her gain physical skills, but she also gained confidence. “It’s not living in fear,” Gonzalez said. ...
At Utah’s Spring Football Game, Britain Covey

At Utah’s Spring Football Game, Britain Covey

Student-athlete Britain Covey with all-access sound during Utah’s Spring Football Game on Saturday, Apr. 17 in Salt Lake City. Follow Pac-12 football this ...
Read the stars and predict the future in the mystical storytelling game ‘Grotto’

Read the stars and predict the future in the mystical storytelling game ‘Grotto’

Grotto will be out on Switch towards the end of this year, some time between August and December. “Their fate will change according to your auguries,” ...
Anker’s Soundcore Liberty Air 2 true wireless earbuds have dropped to $50 today at Best Buy

Anker’s Soundcore Liberty Air 2 true wireless earbuds have dropped to $50 today at Best Buy

The Liberty Air 2 may not be Anker’s most recent earbuds, but that doesn’t mean they don’t have good value. For eg, they have an excellent battery life. You ...
UGA researchers say states can save money on bridges – WGAU

UGA researchers say states can save money on bridges – WGAU

Stephan Durham, a professor in the College of Engineering and one of the study’s co-authors, says your home’s heating and cooling system serves as a good ...
Massachusetts millionaires’ tax would have ‘adverse impact’ on many small businesses News

Massachusetts millionaires’ tax would have ‘adverse impact’ on many small businesses News

Lawmakers this session are likely to advance a ballot initiative that would propose a constitutional amendment to impose the surtax. The millionaires tax could ...
These three games lead the way in Game Developers Choice Awards Nominations | KLBK | KAMC

These three games lead the way in Game Developers Choice Awards Nominations | KLBK | KAMC

The 21st Annual Game Developers Choice Awards has announced its final list of nominees. Winners in all categories will be honored at the Game Developers ...
Supermarkets were overwhelmed with business at the start of the pandemic, but costs also skyrocketed |   News news

Supermarkets were overwhelmed with business at the start of the pandemic, but costs also skyrocketed | News news

Karina Gomez, a cashier at the Woodman’s Market on South Gammon Road, works at a plexiglass-shielded checkout line in late March 2020. All of these stores were ...
Daniel Gafford, the great wizard man, loves classic video games for an incredibly identifiable reason

Daniel Gafford, the great wizard man, loves classic video games for an incredibly identifiable reason

Maybe this can help fans come up with a nickname for Gafford, as he doesn’t currently have one listed on Basketball Reference. How about ‘The Finisher,’ in a ...
Show next
Compsmag - Latest News from tech, business and health
Logo