Nova Releases Year End 2020 Results and Announces Change of Auditor

EDMONTON, AB, April 27, 2021 /CNW/ - Nova Cannabis Inc. (the "Company" or "Nova") (TSXV: NOVC) today announced that it has released its annual audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2020, both of which are available from the Company's profile on SEDAR, at www.sedar.com, or on the Company's website at www.novacannabis.ca. 

As the consolidated financial statements and the management's discussion and analysis are for the year ended December 31, 2020, they only reflect the financial results of the legacy business of YSS Corp. (which was subsequently renamed Nova Cannabis Inc. on March 22, 2021) and do not reflect the completion of the reverse take-over that closed on March 22, 2021, which resulted in YSS Corp. acquiring Alcanna Inc.'s (TSX: CLIQ) retail cannabis division, or the concurrent financing of Alcanna Cannabis Stores Finance Ltd. (now a subsidiary of the Company) that was completed on February 10, 2021.

Change in Auditor

As contemplated in the Company's management information circular dated February 12, 2021, which is available from the Company's profile on SEDAR, at www.sedar.com, Nova also announced today that KPMG LLP of Calgary, Alberta will resign as auditor of Nova on April 28, 2021 and that the Company has engaged PricewaterhouseCoopers LLP of Edmonton, Alberta to become the auditor of the Company effective April 28, 2021.

ABOUT NOVA CANNABIS INC.

Nova is one of Canada's largest and fastest growing cannabis retailers with a goal to disrupt the cannabis retail market by offering a wide range of high-quality cannabis products at every-day best value prices. The Company currently operates 53 locations across Alberta, Ontario and Saskatchewan primarily under its Value Buds and Nova Cannabis banners. The Company is majority owned by Alcanna Inc. (TSX: CLIQ).

Nova's common shares trade on the TSX Venture Exchange under the symbol "NOVC".

Additional information about Nova Cannabis Inc. is available at www.sedar.com and the Company's website at www.novacannabis.ca.  

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nova Cannabis Inc.