TORONTO, Aug. 26, 2019 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV: NRTH) announced today that it has successfully shipped its first order of cannabis to the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) for retail sale. The shipment marks the Company’s first foray into Alberta’s recreational retail market.
Today’s shipment is just the beginning of the Company’s relationship with the AGLC. Looking ahead, 48North has agreed to supply 2,400 kilograms of sun-grown outdoor organic cannabis from Good:Farm and 60 kilograms of its high-quality craft indoor-grown cannabis from its northern cultivation facility, delshen. Today’s shipment pertains to the 60 kilograms from its indoor facilities.
“48North is looking forward to sharing our high-quality cannabis with Alberta consumers. Without question, Alberta’s legal cannabis market is amongst the most robust in the country and we look forward to sharing our high-quality indoor-grown craft cannabis from delshen and our outdoor-grown organic cannabis from Good:Farm with Albertan consumers,” said Alison Gordon, co-CEO of 48North.
48North products are now available for retail sale in Ontario, Alberta and Quebec. 48North has committed approximately 5,000 kilograms of cannabis from its three facilities to provincial distributors in 2019.
The Company is on target to make all of the supply agreements it set out for itself in 2019.
48North Cannabis Corp. (TSXV: NRTH) is a vertically integrated cannabis company focused on the health and wellness market through cultivation and extraction, as well as the creation of innovative, authentic brands for next-generation cannabis products. 48North is developing formulations and manufacturing capabilities for its own proprietary products, as well as positioning itself to contract manufacture similar products for third parties. 48North operates Good:Farm, a 100-acre organic cannabis farm that is expected to produce more than 40,000 kg of organic, sun-grown cannabis, securing a significant first-mover advantage in the production of low-cost, next-generation, extract-based cannabis products. In addition, 48North operates two indoor-licensed cannabis production sites in Ontario. 48North cultivates unique genetics at its wholly owned subsidiary, DelShen Therapeutics Corp. (“delshen”) and processes cannabis and manufactures next-generation cannabis products at Good & Green Corp. (“Good & Green”), both Licensed Producers under the Cannabis Act. 48North has a growing portfolio of brands that include Latitude, a women’s cannabis platform (explorelatitude.com); Mother & Clone, a rapid-acting sublingual cannabis nanospray (momandclone.com); and Avitas, a single-strain vaporizer cartridge (avitasgrown.com).
DISCLAIMER & READER ADVISORY
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could,” “intend,” “expect,” “believe,” “will,” “projected,” “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Please refer to the Company’s SEDAR filings for further details concerning the risks associated with the Company’s business. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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