VANCOUVER, March 9 , 2020 – PRESS RELEASE – Arcannabis Enterprises (BC) Inc., (the“Company” or “Arcannabis”), one of Vancouver’s premier “All Recreational Cannabis” retail store brands, is pleased to announce that it anticipates the soft opening of two licensed stores located at 1290 East 12th Avenue, Vancouver, B.C. and 225 SE Marine Drive, Vancouver, B.C. d/b/a ARCANNABIS STORE on April 1, 2020, with grand openings to commence on April 20, 2020.
On February 9, 2020, Arcannabis was granted its first Cannabis Retail Store (CRS) license and a municipal development permit, in addition to its provincial cannabis retail license from the Province of British Columbia. On March 3, 2020, Arcannabis successfully completed its final inspection by the City of Vancouver and met all requirements to be granted a municipal business license.
The City of Vancouver currently has 20 legal licensed retail storefronts run by 14 different operators. The Company anticipates opening two additional licensed stores in Vancouver and Vernon B.C. shortly after the grand openings of the 12th Avenue and SE Marine Drive locations, with the goal of having 4 stores operational by fall 2020.
“We are very pleased to be opening two retail locations in Vancouver, B.C., with a third and fourth retail location anticipated to follow by fall 2020. We are committed to providing the highest quality recreational cannabis products at our retail locations, personalized retail experiences to our customers and to educating the public on the use of cannabis,” says Tony Dinh, a founder of Arcannabis. “It’s been a long journey to reach this point since first applying for a CRS license in August 2018 and we are elated to finally be opening our first two stores. We’d also like to thank our private investors for their patience and belief in our vision. We can’t wait to be reunited with our customers from MMJ Canada and to build new customer relationships.”
Arcannabis will be one of Vancouver’s premier “All Recreational Cannabis” retail store brands. It has been 100% privately funded to date, with no licensed producers or institutional investors.
Arcannabis has an experienced management team comprised of Tony Dinh and Joe Le, two original founding members of MMJ Canada, a leading medicinal dispensary company. Before departing MMJ Canada in 2018, Dinh and Le helped build MMJ Canada into a brand with multiple operating stores, 150 employees, 45,000 customers and approximately $28M in revenues.