TORONTO, July 28, 2020 /CNW/ - 48North Cannabis Corp.
("48North" or the "Company") (TSXV: NRTH) is pleased to announce
the appointment of Michael Highdale
as Chief Operating Officer, effective immediately.
Michael is a results-oriented CPG executive with extensive
experience in leading large scale and complex businesses in the
food and beverage industry. Before joining 48North, Michael was the
Vice-President, Operations at Sofina Foods Inc., one of
Canada's leading manufacturers of
primary and further processed protein products for both retail and
foodservice customers as well as international markets.
"I am thrilled to have Michael, an experienced leader in the
food and beverage space, join the Company's industry leading team
as COO. In recent months, 48North has made significant progress in
professionalizing its operational and manufacturing capacities.
Without question, Michael has the experience required to continue
implementing these improvements, ensuring that 48North's facilities
remain first-class in the cannabis industry and beyond," said
Charles Vennat, CEO of 48North.
With 48North moving towards its second season of outdoor
harvest, this enhancement to its executive team will help ensure a
continued focused on the cultivation of high-quality cannabis and
emphasis on meeting the strong demand for its products. The Company
will continue to provide updates as 48North executes on its
strategy.
48North has granted an aggregate of 500,000 stock options (each
an "Option'") to certain directors, officers, and employees of the
Company. The Options vest through the passage of time and/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 $0.21 per Share
for a period of three years from the date of grant. 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 manufacturing high-quality products,
building progressive and thought-provoking brands, and low-cost
cultivation. 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 organically 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.
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.
Public health crises, including the ongoing novel coronavirus
(COVID-19) pandemic, could have significant economic and
geopolitical impacts that may adversely affect the Company's
business, financial condition and/or results of operations.
SOURCE 48North Cannabis Corp.