WINNIPEG, Manitoba, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Eden Empire Inc. (CSE: EDEN) (the "Company" or "Eden") is pleased to announce that it will open its first Canadian retail location in Winnipeg, Manitoba after passing all applicable inspections with the Liquor, Gaming & Cannabis Authority of Manitoba. The Winnipeg location, located at #6-2230 McPhillips Street, will open immediately upon completion of construction of the retail store which is anticipated for the first week of February.
Eden Empire, using its award winning and established nationwide brand, will operate retail cannabis stores in Canada and the United States. The Company intends to expand its business to cannabis cultivation, extraction, and processing and to become a fully integrated cannabis product company in various states throughout the US.
Gerry Trapasso, Director & CEO, commented, "Winnipeg offers an excellent outlook for the EDEN brand. We expect this store to flourish in an underserved area of the city. Additionally, we are excited to roll out a direct-to-customer delivery service, furthering our reach and expanding sales beyond our brick and mortar location. We are serving a specific market segment and our in-store experience amplifies our brand and loyal following.”
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 Winnipeg location; the estimated timing of the opening of the Winnipeg location; the expansion of Eden’s business to include a direct-to-customer delivery service; the general outlook of the Winnipeg 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.