TORONTO, March 9, 2020 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH), is pleased to announce that Charles Vennat, currently Chief Corporate Officer, has assumed the position of Chief Executive Officer, effective immediately. Mr. Vennat replaces Alison Gordon, who leaves 48North after serving as the Company's CEO for nearly three years.
"On behalf of the entire 48North team and our Board of Directors, I would like to thank Alison for her trailblazing leadership during her three years as 48North's CEO. During her tenure, we introduced 48North's initial suite of cannabis products to the recreational marketplace, opened one of the world's largest licensed outdoor cannabis operations, raised significant capital, and built a strong brand. We wish Alison all the best in her future endeavours," said Martin Cauchon, Chair of 48North's Board of Directors.
"I am honoured to serve as 48North's Chief Executive Officer," said Charles Vennat, CEO of 48North. "Over the past quarter, we have been diligently focused on operational upgrades, successfully conducting post-harvest activities from Good:Farm, building consumer loyalty, and preparing the launch of our impressive suite of next-generation brands. Provincial wholesalers, retailers, and consumers alike are demanding 48North's products – largely a result of the significant progress the Company has made in building a strong, authentic and trusted brand in Canada."
"Looking ahead, I have every confidence that 2020 will be a momentous year for 48North. The Company has successfully entered into a new phase of growth, with strong demand across the country for our products, it is now time to leverage our industry leading team to deliver reliable, high-quality and consistent products for Canadian consumers," continued Charles.
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 organically-grown, 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); Avitas, a single-strain vaporizer cartridge (avitasgrown.com); Quill, a leader in the manufacturing of beautifully designed, lifestyle-focused and sleek vape products (quill.me) and Sackville & Co, a leading U.S.-based cannabis brand focused on design-forward cannabis accessories and CBD products (sackvilleandco.com).
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.
For further information: Connor Whitworth, Senior Director of Corporate Affairs, 48North, (416) 639 5891 ext. 316, [email protected]