Eden Empire Continues British Columbia Expansion Landing Two Additional Municipal Approvals

VANCOUVER, British Columbia, Oct. 24, 2019 (GLOBE NEWSWIRE) — Eden Empire (“Eden” or “the Company”) is pleased to announce that it gained municipal approvals for locations on Davie Street and Cambie Street, respectively. The next phase of approvals, which would result in Eden obtaining licenses for these locations, is provincial approval.
Both retail stores are in arguably two of the best locations in BC and amongst the best locations in Canada. Our prospective locations on Davie Street and Cambie Street fit well with Eden’s footprint in BC, where Eden currently has the largest footprint, with the maximum eight locations permitted.In addition to the Davie Street and Cambie Street locations, Eden also has approvals for: Vancouver (Kingsway Street), Vernon, Salmon Arm, Victoria and Nanaimo.Davie Street Location. With a population density of 21,833 people per square kilometer, the West End, where Davie Street is located, is one of Canada’s most densely populated neighborhoods. The location is situated near to English Bay, one of the highest pedestrian trafficked areas in Vancouver. With a population of approximately 44,560 in the West End, not including other Vancouver locals and tourists in the area, we strongly believe that we can count on a high frequency of repeat customers in the area, especially as condo development and restaurant openings increase in the West End.Cambie Street Location. Located at the intersection of Cambie Street and King Edward Street, the “Cambie Corridor” is another ideal location in Vancouver for an Eden store due to the number of residential buildings, continued high rise residential development, and proximity to public transportation, including Skytrain access.  The “Cambie Corridor” has a population of approximately 42,555 which is growing due to the number of high-rise towers, duplexes, townhouses, facilities, access to public transportation, and proximity to the City of Vancouver and Vancouver Airport.In addition to our locations in BC, Eden continues to look at opportunities across Canada and in the US, where Eden has already started to invest, beginning in Michigan.From Gerry Trapasso, CEO: “Eden continues to secure the best locations in BC. This is where our potential, our ability to capitalize on the market, and our brand recognition meets.”This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions precedent to the receipt of the approval of regulators (including the Liquor and Cannabis Regulation Branch of British Columbia) and the lack of material changes to general economic, market and business conditions. Forward-looking information is subject to the risk that those factors will not materialize, and to other risks. Except as required by law, Eden does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.The securities of Eden offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States.For further information, please contact: Gerry Trapasso, CEOEmail: [email protected]
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