TORONTO, March 26, 2020 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH), is pleased to announce that it has shipped the first order of its vape product Avitas to the Ontario Cannabis Store for retail sale. The Avitas vape marks the Company's first vape product available for sale.
Avitas, available in over 500 stores in Washington, Oregon and Colorado is one of the best-selling single strain vaporizer cartridges in the United States and represents 48North's first product introduction as part of its vaporizer strategy. Avitas develops 100% additive free, single strain, ultra-refined and purified, vaporizer cartridges. Single strain vaporizer cartridges represent the fastest-growing, next-generation cannabis product category in the United States.
To start, 48North will be launching a Super Citrus Haze vaporizer cartridge, using flower that has been hand selected for flavor, aroma and cannabinoid profile. This unique sativa forward strain is earthy and citrusy to the tongue with terpenes that evoke herbs like black pepper and cloves. The Company uses a gentle extraction method to preserve the flower's cannabinoid and terpene profiles, resulting in single strain, full spectrum oils – clean and simple.
Successfully launching the company's first vape product to market is indicative of 48North's renewed commitment to improving operations, investing in product design, and supporting high-quality experiences for Canadian consumers.
"Since the beginning, 48North has been committed to selling next-generation cannabis products to Canadian consumers. In response, the company has built landmark partnerships with brands like Apothecanna and Avitas to bring some of the highest-quality products to consumers. Bringing market-tested brands from the United States to Canada has been part of the 48North strategy from the beginning. In doing so, we capitalize on a head-start with brand building and fostering consumer loyality. We very excited to share this product with Canadians across the country," said Kirsten Gauthier, CMO of 48North.
According to PAX Labs Inc., the cannabis vape market alone will account for $600 million in sales in Canada by 2021.
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. 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.
For further information: Connor Whitworth, Senior Director of Corporate Affairs, 48North, (416) 639 5891 ext. 316, [email protected]
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...