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.
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 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).
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press release constitute forward-looking information. These
statements relate to future events or future performance. The use
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"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.