TORONTO, Aug. 13, 2019 /CNW/ - 48North Cannabis Corp.
("48North" or the "Company") (TSXV:NRTH) is pleased to announce
that it has appointed Charles Vennat
as Chief Corporate Officer, effective immediately.
Charles, an accomplished entrepreneur with extensive experience
working in highly-regulated sectors, most recently as President of
Bastos of Canada Ltd., a manufacturer of tobacco products, is
joining the Company to drive the corporation's business plan and
strategic vision.
"Charles has a proven track record in translating business
strategy into actionable goals for strategic growth and
performance. At Bastos, he led the strategic turnaround of the
firm, developed key client relationships, expended into new
markets, and led the negotiations leading the eventual sale of
Bastos to private interests in 2018," said Alison Gordon, co-CEO of 48North.
"Without question, Charles' operational and business acumen in
highly-regulated sectors, such as tobacco and food, will be of
critical importance to 48North's aggressive growth and expansion
plans," continued Jeannette
VanderMarel, co-CEO of 48North.
"48North is at a critical moment in its growth trajectory; it
has disruptive production, a world-class brand, an industry-leading
team, and a strategic business-plan designed for the long-term. I
look forward to leading 48North in the operationalization of its
business plan and setting the course for the long-term," said
Charles Vennat, Chief Corporate
Officer of 48North.
48North has granted an aggregate of 700,000 stock options (each
an "Option") to certain directors, officers, and employees of the
Company. The Options vest through the passage of time or the
achievement of specific goals. The specific goals for the Options
vary based upon the duties and responsibility of the recipient.
Each Option is exercisable into one common share ("Share") of the
Company at a price of $0.87 per Share
for a period of three years from the date of grant. All of the
Options have been granted pursuant to the Company's Stock Option
Plan which has been previously approved by the Company's
shareholders and the TSX Venture Exchange. The Company also
confirmed Kirsten Gauthier as Chief
Marketing Officer.
About 48North
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 2599760 Ontario
Corp. dba Good & Green ("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.
SOURCE 48North Cannabis Corp.