CannaRoyalty Corp.
CSE : CRZ
CSE : CRZ.CN
CNSX : CRZ
OTCQX : CNNRF

CannaRoyalty Corp.

September 05, 2017 08:00 ET

CannaRoyalty Investee, AltMed, Opens First Arizona Dispensary

AltMed plans to open additional MüV by AltMed dispensaries in Arizona and Florida

OTTAWA, ONTARIO--(Marketwired - Sept. 5, 2017) - CannaRoyalty Corp. (CSE:CRZ)(CSE:CRZ.CN)(CNSX:CRZ)(OTCQX:CNNRF) ("CannaRoyalty" or the "Company"), an active investor and operator in the legal cannabis industry, is pleased to announce that one of its investee companies, Alternative Medical Enterprises LLC ("AltMed"), has opened its inaugural MüV by AltMed dispensary in Phoenix, Arizona. The dispensary launch represents an important milestone as both AltMed Arizona and AltMed Florida expand to become fully integrated leaders in medical cannabis production and dispensing. In Florida, MüV products are expected to be available for patients during the first quarter of 2018. CannaRoyalty receives a 3.5% royalty on the net sales of MüV products until July 2026. CannaRoyalty also currently holds an 8.3% ownership stake in AltMed, as well as the right to license MüV products in Canada, California, Nevada, Massachusetts, Washington, Oregon, and Puerto Rico.

"This is a significant milestone toward the achievement of AltMed's strategic objectives and value creation for CannaRoyalty shareholders," said Marc Lustig, CEO of CannaRoyalty. "We are proud to be partnered with the experienced team at AltMed, we congratulate them on this significant step and look forward to continuing to work closely together on the outstanding opportunities that exist within the Arizona and Florida markets."

AltMed Enterprises CEO Michael Smullen added, "we are in the very enviable position of being able to master all facets of fully integrated operations with our experience in the development, production and now dispensing of medical cannabis in Arizona. Our Arizona platform will also enable us to transfer our expertise and proven success in that market, to Florida."

AltMed's first dispensary in Phoenix will make the entire line of MüV cannabis infused products available in one location for Arizona patients. It will offer order-ahead pickup and delivery, and beyond the MüV line, a wide selection of flower strains and products will be available to meet every patient's needs. Beyond the new dispensary, AltMed will also continue to offer its popular MüV products wholesale to many other dispensaries throughout the state.

MüV™

The MüV brand of cannabis infused products was launched in Arizona in 2016 and has quickly gained international attention and recognition. In its first six months alone, MüV received four best of Arizona medical cannabis awards, including two first prizes for its proprietary extractions that are the basis of all MüV products.

About AltMed

Alternative Medical Enterprises, LLC, headquartered in Sarasota, FL and doing business as AltMed Enterprises, is a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabinoids.

About CannaRoyalty

CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.

Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.

Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.

Contact Information