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Starbuds secures multiple locations in Ontario, with government expected to announce it will privatize cannabis sales

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CALGARY, Alberta, July 31, 2018 (GLOBE NEWSWIRE) -- 10330698 Canada Ltd., holder of Starbuds Canada (Starbuds), a joint venture between Compass Cannabis Clinic and Starbuds U.S., is pleased to announce it has secured multiple real estate locations in Ontario and has entered into multiple operational agreements with stakeholders for additional locations.

The Ontario government will reportedly allow private stores to sell cannabis once recreational cannabis becomes legal on October 17. Starbuds is well-positioned to be a leader for retail cannabis distribution in Ontario, securing real estate for retail locations in advance of regulations coming into effect.

"It's a game-changer for Canada, the industry as a whole, and for the communities in Ontario. We look forward to further extending our expansion plans to include Ontario and provide further investment opportunities for our stakeholders," said Dave Martyn, President of Starbuds Canada and Compass Cannabis Clinic. "As one of North America's fastest growing cannabis brands, this provides favourable circumstances for us to extend our services there."

The initial locations in Whitby and Windsor, ON are the company's first entry into the eastern market. The medicinal arm of the company, Compass Cannabis Clinic, already has multiple locations open throughout B.C. and Alberta and is a leader in the medicinal cannabis industry, paving its way to becoming a nationally recognized and trusted entity.

"We're thrilled to have an opportunity for our joint venture to expand into Ontario. Consumers should have options in who they purchase cannabis from, and this expansion only strengthens our position as a leading provider across not only Canada but North America as well," said Brian Ruden, Founder and CEO of Starbuds U.S. "Our goal is to provide fantastic customer service combined with educational support for patrons in Ontario, along with further investment opportunities for our stakeholders."

To accelerate their expansion, 10330698 Canada Ltd., holder of Starbuds Canada (Starbuds) is launching a private placement for investors. Further information can be received by contacting investor@starbuds.co.  Starbuds Canada is also accepting applications for franchised locations into the end of the year and 2019. The real estate is convertible to Compass Cannabis Clinic in the event that private retail is not approved. Further information can be received by contacting franchise@starbuds.co.

Starbuds is participating in the upcoming Benzinga Cannabis Capital Conference, and MJBizConINT'L in Toronto, ON in August. To learn more about Compass Cannabis Clinic and Starbuds, please email franchise@starbuds.co or visit compasscannabis.ca and starbuds.co.

About Starbuds Canada:
Starbuds Canada, part of North America's fastest growing cannabis network, is changing the way Canadians think about cannabis and its many uses. Through a joint venture with Compass Cannabis Clinic, Starbuds is coming to Canada with an aggressive expansion plan across British Columbia, Alberta, and Saskatchewan. Founded in 2013, Starbuds was the first retail outlet to receive licensing when Colorado legalized recreational cannabis. With 13 locations now operating across Colorado and Maryland, Starbuds also has licensing to operate in Louisiana, and Massachusetts. In 2017, Starbuds generated over $50 million in revenue. Learn more about Starbuds at http://starbuds.co 

About Compass Cannabis Clinic:
Compass Cannabis Clinic is a medical cannabis consultation company whose core business is focused on providing educational and consultation services to Canadians who are able to obtain cannabis from a licensed producer under Canada's ACMPR. Compass has forty confirmed leases for locations across Canada, a mix of operational clinics that are now open, in development, or in preparation with the intended use of becoming retail cannabis stores. The company has been recently selected by the Saskatchewan Liquor and Gaming Authority as a cannabis retailer for Weyburn, SK, and as of this post has received 12 retail development permits across the province of Alberta. The retail license is through Compass's subsidiary company and in partnership with Starbuds, one of the leading multiple state cannabis retailers in the United States. With a rapidly growing patient base currently being served and an aggressive real estate acquisition strategy, the company is poised to be one of the largest cannabis organizations in Canada with ongoing development strategies to expand into Australia and the United States.

For media inquires, please contact:
Angela Cabucos
Brookline Public Relations, Inc.
403-538-5641 ext 109
acabucos@brooklinepr.com 

Cautionary Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Compass' actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

The forward-looking information in this news release includes disclosure about the conversion and opening of future Compass locations and the future success of the business and operations of Compass.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; reliance on key and qualified personnel; the inability to convert current Compass locations into retail cannabis retail locations; the inability to successfully complete the transactions contemplated by the Letter of Intent; and regulatory and other risks associated with the cannabis industry in general. Compass Cannabis cautions that the foregoing list of material risk factors and assumptions is not exhaustive.

Compass assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.


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