TORONTO, June 12, 2019 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH) announced today that it has shipped its first order of cannabis to the Société québécoise du cannabis (SQDC) for retail sale. The shipment marks the Company's first foray into the Canadian recreational retail market.
In February, the Company announced that it had signed Canada's first-ever letter of intent for outdoor- grown cannabis with the SQDC, Quebec's sole legal retailer of recreational cannabis. Under the agreement, 48North agreed to supply 1,200 kilograms of cannabis to the SQDC from its outdoor farm in Brant County, Ont., and 120 kilograms of indoor-grown cannabis from its facilities in Brantford, Ont., and Kirkland Lake, Ont. Today's shipment pertains to the 120 kilograms from its indoor facilities.
"48North is looking forward to sharing our high-quality cannabis with Quebec consumers. Today's shipment marks a major milestone for the organization. As we look ahead, the Company is well-prepared to deliver on all of its supply agreements, including ones it has signed with provincial distributors, and looks forward to sharing its products with consumers across Canada," said Alison Gordon, co-CEO of 48North.
By the end of the year, 48North products will be 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.
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 kilograms 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 with more than 86,000 square feet of production capacity. 48North cultivates unique genetics at its wholly owned subsidiaries, DelShen Therapeutics Corp. ("DelShen") and 2599760 Ontario Corp. dba Good & Green ("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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SOURCE 48North Cannabis Corp.