FOUR20 acquires Urban Canna and Green Rock Cannabis retailers

Calgary, AB, June 21, 2021– 420 Premium Markets Ltd. (“FOUR20”) is pleased to announce that they have completed their first two cannabis retail acquisitions with the acquisition of all five operating locations from Urban Canna and all four operating locations from Green Rock Cannabis. Both companies are Alberta-based, which helps solidify FOUR20’s strong position in the province with a total store count of 23.

The recent acquisitions will help FOUR20 continue to have a dominant role in the Calgary market, with four additional stores in that municipality (a total of 12 in the city), as well as the foray into several new markets in the province with Okotoks, Sylvan Lake, St. Albert and Lethbridge. In addition to the operating locations, one of the deals also includes a non-operating lease in Ontario, a key first step for FOUR20 to move into the burgeoning market out east. These deals are accelerating the company’s steady growth trajectory for 2021 and beyond.

“We are very excited to welcome these new stores to our retail portfolio, as both the Urban Canna and Green Rock locations are well positioned and we look forward to adding the FOUR20 brand and operational success to these new locations,” said Scott Morrow, CEO of 420 Premium Markets Ltd. “Both companies have been operating great businesses and we look forward to learning from them and their teams as we continue to expand throughout Alberta and the rest of Canada.”

FOUR20 was one of four cannabis retail stores open on day one of legalization in Alberta back in 2018 and has since grown organically to 14 locations throughout the province before these milestone acquisitions. The company will continue to focus on providing excellent service, education and operating in a socially responsible manner.

 – Scott Morrow, CEO