Beleave Inc. (OTCQX: BLEVF) (CNX: BE) Announces Strategic Alliance Agreement with Rollins Group
78Beleave Inc. (OTCQX: BLEVF) (CNX: BE) Announces Strategic Alliance Agreement with Rollins Group - RICH TV LIVE - November 9, 2018 - Beleave Inc. (BE.CN) (BLEVF) ("Beleave" or the "Company") is pleased to announce it has entered into a Strategic Alliance Agreement (the "Agreement") with the Rollins Group Inc. ("Rollins") to open and operate cannabis retail stores across Canada . Rollins will apply for cannabis retail sales licenses across the country to open and operate cannabis retail stores. Beleave is supporting Rollins to secure lease covenants for all planned locations. Rollins will be responsible for managing the day-to day operations of the stores.
Key Takeaways of the Agreement:
Rollins plans to open its first nine locations in Ontario with an additional 31 locations planned, pending approval in the province of Ontario ;
Rollins has agreed to purchase up to 1,000 kg of dry cannabis (or equivalents) of Beleave product annually per location; and
Rollins shall provide Beleave with an option to purchase up to 15% of all outstanding equity.
Beleave and Rollins have created a Joint Relationship Committee to review the growth and performance of the retail locations, comprised of Andrew Wnek , CEO of Beleave, Bojan Krasic , President & CFO of Beleave, and David Shekthter and Daniel Stern , the principal partners at Rollins.
"We're very happy to be working with David and Daniel who have a track record of success in the cannabis industry," said Beleave CEO, Andrew Wnek . "We look forward to meeting our customers in these new stores and serving the communities around them."
Rollins has agreed to deal exclusively with Beleave, not directly or indirectly entering into any agreement that would compete with or conflict with the terms of the Agreement, without the express written consent from Beleave.
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