TORONTO, Nov. 1, 2019 /CNW/ - 48North Cannabis Corp.
("48North" or the "Company") (TSXV: NRTH) is pleased to announce
that Alan Gertner has been appointed
to the Company's Board of Directors, effective immediately.
Mr. Gertner, an industry leader with a track record of
excellence, has held a series of executive positions in the
cannabis sector. Most recently, Alan served as the Chief Retail
Officer of Canopy Growth Corporation where he managed the
development and deployment of Canopy's brands across North America and internationally. Before
joining Canopy, Alan founded Hiku ("Tokyo Smoke") a cannabis brand
and retailer that was acquired by Canopy for $600 million.
"48North is honoured to welcome Alan to our Board of Directors,"
said Alison Gordon, CEO of 48North.
"Alan's experience in cannabis will be of significant value to the
Company as we continue on our journey to become one of the most
well-known, respected, and beloved cannabis brands. Alan's finger
is on the pulse of the cannabis industry both domestically and
internationally, his experience in building successful brands and
executive experience at the world's largest cannabis company will
be critical to the future success of 48North."
"I am truly excited to be joining 48North's Board of Directors
as 48North has quickly become one of Canada's leading and most recongnized cannabis
brands. I believe strongly in the Company's laser-focus on building
trust with consumers and developing innovative next-generation
cannabis products for the health and wellness market. I look
forward to supporting the Company as it strategically enters the
burgeoning U.S. cannabis market and cementing its position in the
Canadian landscape," said Alan
Gertner, 48North Board Member.
48North announced today that Jeannette
VanderMarel has resigned from the Company's Board of
Directors.
48North has granted an aggregate of 200,000 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 $0.60 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.
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 which produces 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:House"), 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); Avitas, a
single-strain vaporizer cartridge (avitasgrown.com) and Quill, a
leader in the manufacturing of beautifully designed,
lifestyle-focused and sleek vape products (quill.me).
DISCLAIMER & READER ADVISORY
Neither the 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. 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.